PDIC starts deposit insurance payment to depositors of Rural Bank of Larena

THE Philippine Deposit Insurance Corporation (PDIC) has started mailing Postal Money Orders (PMOs) to all depositors eligible for outright payment who maintained deposits with the closed Rural Bank of Larena (Siquijor) on October 22, seven working days after the bank’s takeover on October 11.

Eligible for outright payment of deposit insurance are individual depositors with valid deposit balances of P100,000 and below who have no outstanding loans with the closed bank, and have complete mailing address in the bank records or updated this information through the PDIC Mailing Address Update Form (MAUF).

PMOs amounting to P15,000 and below may be encashed either with the local post office or with the nearest branch of the Land Bank of the Philippines. Meanwhile, PMOs above P15,000 may be deposited to the depositor’s account in any local bank.

Rural Bank of Larena was ordered closed by the Monetary Board through Resolution 1570.A dated October 10, 2019. It is a single-unit rural bank located on Bonifacio St., Barangay North Poblacion, Larena, Siquijor.

Depositors who have not received their checks after two weeks are advised to contact the Public Assistance Department at telephone number (02) 8841-4141, or e-mail PDIC at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342). Inquiries may also be sent to the official PDIC Facebook account at www.facebook.com/OfficialPDIC. (PR)