PDIC unable to reach 25,000 small BF depositors

Depositors who have P10,000 or less with Banco Filipino Savings and Mortgage Bank should file their claims with Philippine Deposit Insurance Corp., as the agency has no way of reaching some 25,000 of them.

PDIC executive vice president Cristina Q. Orbeta, who is also the agency’s officer-in-charge, said Wednesday the agency had been sending payments to Banco Filipino’s small depositors but thousands of such accounts had incomplete data.

The state deposit insurer earlier said that filing of claims for small accounts was waived for deposits with complete names and addresses on record.

However, Orbeta said more than 25,000 such accounts were found to have incomplete names and addresses or no addresses on record.

These depositors will not receive check payments by June 20, supposedly the last day of payment of claims for small depositors, and they will have to file their deposit insurance claims, Obeta said.

These claims should be processed during the scheduled claims settlement operations (CSO) for Banco Filipino in designated CSO sites, Obeta added.

Orbeta said that during the CSO, valid claims with complete supporting documents would be paid onsite.

But those who might be found deficient in supporting documents would be required to submit additional documents.

Those filing claims—which may be done by mail—must submit an accomplished claim form that is available at the PDIC office, CSO sites or the PDIC website (www.pdic.gov.ph).

Claimants should also turn in an original copy of their passbook, certificate of time deposit, bank statements, unused checks or ATM cards.

They should also submit clear photocopies of two valid IDs bearing the photos and signatures of the depositors or claimants.

Orbeta said the servicing of new claims would be undertaken in three batches from middle of June to August 19.

PDIC is “committed to pay deposit insurance for all valid deposits as soon as possible,” she said.

Further, Orbeta said PDIC has paid more than 75,000 depositors with deposits of P5,000 and less.

She said payments for these valid accounts—in the form of postal money orders—were sent directly to the depositors’ last known addresses based on Banco Filipino records.