NEWS/PRESS RELEASE: PR-114-12; Date of Release: October 17, 2012 – FOR IMMEDIATE RELEASE

The Philippine Deposit Insurance Corporation (PDIC) will service the deposit insurance claims of depositors of the closed Rural Bank of Balete (Aklan), Inc. (RB Balete) starting on October 17, 2012. The claims settlement operations (CSO) at the Head Office located in Poblacion, Balete, Aklan will be held from October 17 to 22, 2012. Meanwhile, the CSO for depositors of Kalibo Branch will be conducted at the premises of the closed Cooperative Rural Bank of Aklan located at Toting Reyes St., Brgy. Buswang New, Kalibo, Aklan from October 17 to 29, 2012. The announcement on the CSO is posted at the bank premises and on the PDIC website, www.pdic.gov.ph.

Depositors who have not yet received their Notice of Payment are advised to secure Control Numbers at the Head Office and Kalibo Branch starting on October 16, 2012. The Control Number corresponds to the appointment date when PDIC representatives will service the claims of depositors. These appointment dates are posted at the bank’s premises and on the PDIC website.

To secure a Control Number, depositors are required to present to the PDIC representatives their evidence of deposits such as Savings Passbook or Certificate of Time Deposit. All claims filed during the specified appointment dates during the CSO will be processed onsite and if found to be valid, will also be paid onsite.

Depositors who are issued Control Numbers beyond the schedule of appointment dates may also file their claims with the PDIC representatives during the period of the CSO. However, their claims will be processed at the PDIC Home Office in Makati City and payment of their insured deposits will be sent through mail.

Earlier, PDIC sent payments through mail to depositors who were not required to file deposit insurance claims. These are depositors who have aggregate account balances of P10,000 and below except holders of time deposit accounts; who have complete and updated addresses in the bank’s records, and who have no outstanding obligations with RB Balete.

Starting on November 12, 2012, depositors who are not able to file their claims during the CSO period may submit their claims either through mail to PDIC or personally at the PDIC Office, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

When filing deposit insurance claims, depositors are advised to mail or personally present their duly accomplished Claim Forms and Claim Status Sheets (CSS), original and photocopy of the evidence of deposit, and original and photocopy of two (2) valid photo-bearing IDs with signature of the depositor.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement. Claimants who are not the signatories in the bank records are required to bring an original copy of a notarized Special Power of Attorney (SPA) of the depositor or parent of a minor depositor.

The procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form, CSS, and format of the SPA may also be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed RB Balete is on August 18, 2014. After said date, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.
PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

Corporate Communications Dept.
Tel: (O2) 8414637 / Fax (02) 8414833
Trunkline: (02) 8414000
Email:Âccd@pdic.gov.ph