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PDIC urges Rural Bank of Maigo clients to file deposit insurance claims until Nov 13

The Philippine Deposit Insurance Corporation (PDIC) announced that depositors of the closed Rural Bank of Maigo (Lanao del Norte), Inc. have until November 13, 2020 to file their deposit insurance claims.

Based on the latest PDIC data, deposit insurance claims for 419 deposit accounts with aggregate insured deposits amounting to PhP2.6 million have yet to be filed by depositors. 

Data also showed that as of September 30, 2020, PDIC had paid depositors of the closed Rural Bank of Maigo (Lanao del Norte), Inc. the total amount of PhP59.5 million, corresponding to 95.8% of the bank’s total insured deposits amounting to PhP62.1 million.

Depositors are advised to file their claims either online via electronic mail (e-mail) at pad@pdic.gov.ph or through postal mail or courier addressed to the PDIC Public Assistance Department, 6th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

Claims may also be filed personally at the PDIC’s Public Assistance Center in Makati City on a per appointment basis. 

To make an appointment, depositors may call the Public Assistance Hotline at (02) 8841-4141 or at Toll-Free number 1-800-1-888-7342 or 1-800-1-888-PDIC, send an e-mail to pad@pdic.gov.ph, or send a private message at PDIC’s official Facebook account,www.facebook.com/OfficialPDIC.

When filing claims through e-mail, scanned copies or photo images of the signed and accomplished Claim Form, evidence of deposit (i.e., savings passbook, certificate of time deposit, etc.), and one valid photo-bearing ID with the depositor’s signature should be attached to the e-mail. 

A scanned copy or photo image of the first and last page of the passbook, or the front and back portion of the certificate of time deposit should be sent as e-mail attachments.

For claims filed personally or via postal mail or courier service, depositors are advised to enclose the accomplished and signed Claim Form, original Savings
Passbook and/or Certificate of Time Deposit and photocopy of one (1) valid photo-bearing ID with the depositor’s signature.

The depositors are further advised that additional documents and/or original copies of documents submitted via e-mail may be required by PDIC, as necessary, in the course of evaluation and processing of claims.

The Claim Form can be downloaded from the PDIC website http://www.pdic.gov.ph/files/New_PDIC_Claim_Form.pdf. The Claim Form is free and there is no fee for filing deposit insurance claims.

Depositors who are below 18 years old should mail or submit either a photocopy of their Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar. 

Representatives of claimants are required to mail or submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor. The Special Power of Attorney template may be downloaded from the PDIC website.

The last day for filing deposit insurance claims was moved to November 13, 2020 from September 14, 2020 to allow the depositors more time to prepare the required documents before filing their claims, and to ensure that affected depositors are not disenfranchised because of the enhanced community quarantine.

Under the PDIC Charter, depositors are given two years from bank takeover to file deposit insurance claims with the PDIC. Rural Bank of Maigo (Lanao del Norte), Inc. was taken over by the PDIC on September 14, 2018 after it was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on September 13, 2018.

Depositors who will not be able to file their deposit insurance claims with PDIC on or before November 13, 2020 may file a claim against the assets of the bank with the Liquidation Court (Regional Trial Court – Branch 5, Iligan City, Lanao del Norte) under Sp. Proc. No. 19-1788. Payment of these claims shall be subject to availability of assets of the closed bank, legal priority and approval of the Liquidation Court.

Depositors who have outstanding loans or payables to the bank will be referred to the duly designated Loans Officer prior to the settlement of their deposit insurance claims.

For more information, depositors may call the PDIC Public Assistance Hotline at (02) 8841-41-41, or the Toll-free hotline 1-800-1-888-PDIC or 1-800-1-888-7342 during office hours. Depositors may also send an e-mail to the PDIC Public Assistance Department at pad@pdic.gov.ph or private message at the official PDIC Facebook account, www.facebook.com/OfficialPDIC. (PDIC)

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