Depositors of closed banks urged to file claims

MANILA, Philippines - The Philippine Deposit Insurance Corp. has urged depositors of the closed Community Bank (Rural Bank of Alfonso, Inc.) and Rural Bank of Magsingal (Ilocos Sur) Inc. to file insurance claims starting next week.

The notice was made for depositors who were not able to file their claims during the claims settlement operations earlier this month.

PDIC said depositors of Rural Bank of Magsingal may start submitting their claims on March 30, while clients of Community Bank may do so starting April 1.

Depositors may file their insurance claims personally or send them through mail to the PDIC office in Makati.

The state deposit insurer reminded bank clients they need to present the original evidence of deposit, two valid identification documents (IDs), and a photocopy of their birth certificate if they are below 18 years old.

Those who would submit claims on behalf of other depositors should also present an original copy of a notarized Special Power Of Attorney.

“PDIC will not accept claims which are incomplete or lacking requirements. Other documents may be required by PDIC in the course of processing of claims,” the state deposit insurer said.

Community Bank was ordered closed by the Bangko Sentral ng Pilipinas on Feb. 26. The bank is a three-unit firm with its head office located in Alfonso, Cavite, while its two branches are in Binan, Laguna and Gen. Aguinaldo, Cavite.

Rural Bank of Magsingal, meanwhile, was ordered closed on March 5. The bank is a single-unit company located in San Vicente, Magsingal, Ilocos Sur.