PDIC to pay claims of BF depositors starting June 15

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Monday, May 30, 2011

STATE-run Philippine Deposit Insurance Corp. (PDIC) announced it will settle claims for Banco Filipino Savings & Mortgage Bank (BF) depositors with account balances of more than P10,000 starting June 15 to Aug. 19.

The agency said the schedule is a month ahead of the previous settlement and will be conducted in 42 sites nationwide. The settlement will be done in three batches.

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The first batch will be for 20 branches and will start on June 15. The second batch will be for 24 branches and will start on June 21 while the third batch of 18 branches to start on July 15.

PDIC said smaller BF branches will not be used for claims settlement.

PDIC advised depositors to proceed to the branch or settlement center on their appointment dates based on the priority or reference numbers given when their claims were received.

Officials said details of the claims settlement will be posted on the PDIC website at www.pdic.gov.ph, in bank premises and newspapers.

PDIC reminded depositors to bring their claims status sheets that were issued when their claims were received and two original IDs submitted during the filing. Depositors who are minors are asked to submit the original and a photocopy of the birth certificate issued by the National Statistics Office or duly certified copy if issued by the local civil registrar.

Claimants who are not the signatory in the bank records are required to submit a duly-notarized or authenticated Special Power of Attorney executed by the depositor or parent of the minor depositor.

PDIC said valid claims will be paid on site.

PDIC has paid more than 75,000 depositors with valid accounts P5,000 and below in the past weeks, amounting to P86.2 million in postal money orders (PMOs). These PMOs are encashable in Land Bank of the Philippines branches nationwide.

The mailing of payments for valid accounts with balances of P10, 000 and below started in the last week of this month.

Published in the Sun.Star Cebu newspaper on May 31, 2011.