Stricken clients may now file bank claims

MANILA, Philippines—People whose deposit insurance claims have been denied by the Philippine Deposit Insurance Corp. (PDIC) may now file their appeal, according to officials of the state-owned firm.

PDIC has already issued the rules and regulations for the filing of petitions to reconsider their deposit insurance claims.

Under Regulatory Issuance No. 2011-03, which took effect last June 30, requests for reconsideration must be sent to the PDIC office on Ayala Avenue in Makati City. The petition must be filed within 60 days upon receipt of the notice of denial of deposit insurance claims.

The request form may be downloaded from PDIC’s website. It must be accompanied by certified true copies of evidence of deposits placed in the closed bank.

The requirements will enable PDIC to readily verify and authenticate the representations and submissions of the depositor.

PDIC will decide on the appeals within 120 days from receipt of the request for reconsideration.

PDIC is the government institution that handles the payment of deposit insurance claims of clients of banks that have been ordered closed by the Bangko Sentral ng Pilipinas.