PDIC to pay Bangko Buena Consolidated depositors starting August 29

THE Philippine Deposit Insurance Corporation (PDIC) will service the deposit insurance claims of depositors of the closed Bangko Buena Consolidated Inc. (a rural bank) starting August 29, from 8 a.m. to 5 p.m.

Claims of depositors will be serviced on August 29 and 30 at the bank’s head office located at 23 Valeria St., corner Rizal St., Barangay Nonoy, Iloilo City, for depositors who maintained their accounts at the head office, and at the Barotac Nuevo Branch located at M. H. del Pilar St., Barangay Ilaud Poblacion, Barotac Nuevo, Iloilo, for depositors who maintained their accounts at said branch.

Meanwhile, PDIC will service on August 29 to 31 the claims of depositors of the following branches: Culasi, Dao, Lambunao, Pandan and Buenavista.

The payout sites are: Culasi Branch located in Barangay Centro Sur (Poblacion), Culasi, Antique; Dao Branch located in Barangay Poblacion Ilaya, Dao, Capiz; Lambunao Branch located at Coalition St. cor. Gonzales St., Barangay Poblacion, Ilawod, Lambunao, Iloilo; Pandan Branch located on Dybuco St., cor. Justice Zaldivar St., Barangay Centro Norte (Poblacion), Pandan, Antique; and Agri-Eco Hall, Guimaras State College for Buenavista Branch.

Claims of depositors who maintained their accounts at the bank’s Bacolod Branch located on San Juan-Burgos St., Barangay 10, Bacolod City, will be serviced on August 29 only.

Filing of claims is waived for depositors with valid deposit balances of P100,000 and below; who have no obligations with the bank, have not acted as co-makers of these obligations, are not spouses of the borrowers, have updated and complete mailing address in the bank records or through the PDIC-provided Mailing Address Update Form (MAUF), and have not maintained the account under the name of business entities. Postal Money Order checks (PMO) will be sent to said depositors at their respective mailing addresses.

All other depositors, regardless of the type of their account or account balance, have to file deposit insurance claims. All valid claims will be paid.

When filing claims for deposit insurance, depositors have to personally present their savings passbook, Certificate of Time Deposit or other evidence of deposit, and one valid photo-bearing ID with their signature. It is recommended, however, that they bring at least two valid IDs in case of discrepancy in signature.

Depositors who are below 18 years old should be represented by a parent. For these depositors, a photocopy of the child’s Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar is required. The parent should sign the Claim Form and other requirements. However, if the claimant is not the signatory in the bank records, the original copy of a notarized or authenticated Special Power of Attorney (SPA) of depositor or parent of a minor depositor is required.

PDIC will not accept claims that are incomplete or lack the requisite documents. The deposit insurer may also require other documents in the course of processing of claims. PDIC reminds depositors to deal only with PDIC authorized officers.

For more information on the payout process and requirements, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at

Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).

The procedures and requirements for filing of deposit insurance claims are also posted in the PDIC website, The Claim Form and format of the SPA may also be downloaded free of charge from the PDIC website. (PR)


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