PDIC advises borrowers of Rural Bank of Basey to settle obligations

Philippine Deposit Insurance Corporation logo (Photo grabbed from pdic.gov.ph)

BORROWERS of the now-closed Rural Bank of Basey (Samar), Inc. in Samar are advised to pay their obligations.

The Philippine Deposit Insurance Corporation (PDIC), the receiver of the closed Rural Bank of Basey (Samar), Inc., said that borrowers are “under obligation to pay their loans notwithstanding the closure of the bank.”

“Deposits of borrowers who have past due loans with the bank are automatically applied to their loans, by operation of law. If the loans are on current status, the borrowers may opt to apply their deposits against their loans, to avoid paying interest on their loans,” said PDIC.

In a statement, PDIC reminded borrowers to transact only with authorized PDIC representatives, adding that it has not engaged any person, agent or agency to collect the loan payments for and in behalf of the bank.

Borrowers are advised to always secure copies of Official Receipts issued by the PDIC, as liquidator of the closed Rural Bank of Basey, it said.

Borrowers of Rural Bank of Basey may pay their loans and other obligations through any of the following modes:

- by paying directly at any Philippine National Bank (PNB) branch. Payment should be for the account name, PDIC FAO BURL – Rural Bank of Basey (Samar), Inc. Borrowers are advised to indicate their assigned Account Reference Numbers on the PNB payment slips and keep copies of the same to ensure proper recording of their payments;

- by paying through postal money order (PMO) or check payable to PDIC FAO BURL – Rural Bank of Basey (Samar), Inc. Payment should be directly sent via mail to the PDIC Loans Management Department III, Fifth

Floor, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City; or

- by paying directly at the PDIC Public Assistance Center located at the Third Floor, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City.

PDIC, as receiver, will issue Official Receipts for all payments received upon verification and shall send the Official Receipt to the borrowers through mail.

Borrowers who do not receive their Official Receipts are advised to send by mail, e-mail or fax a copy of their PNB deposit or payment slips to Madeleine C. Ribay, deputy receiver for loans, Fifth Floor, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City or via e-mail at mcribay@pdic.gov.ph and to Thelma A. Peña a tbarias@pdic.gov.ph.

Borrowers of the bank may contact the PDIC-Public Assistance Department for any queries or concerns at (02) 841-4630 or send these through email at pad@pdic.gov.ph or private message at PDIC’s Facebook account, www.facebook.com/OfficialPDIC. Borrowers outside Metro Manila may also call PDIC at its Toll Free Hotline at 1-800-1-888-PDIC (7342).

Rural Bank of Basey was ordered closed by virtue of Monetary Board Resolution No. 724.B on May 16, 2019. (SunStar Philippines)


SunStar website welcomes friendly debate, but comments posted on this site do not necessarily reflect the views of the SunStar management and its affiliates. SunStar reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.

Forum rules:

Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent. Do not shout or use CAPITAL LETTERS!