The Philippine Depositors Insurance Corp. (PDIC) will start its claims settlement operations (CSO) in Cebu in three Banco Filipino (BF) branches this month.
PDIC officer in charge executive vice president Imelda S. Singson said depositors should go to the branches or designated CSO sites on their appointment dates based on the priority or reference numbers given to the depositors during the claims receiving operations (CRO).
The PDIC said in a statement that it already dispatched all payments through the postal offices for BF depositors with balances of P10,000 and below.
However, these scheduled CSO are for those depositors with account balances of P10,000 and below whose accounts were found to have incomplete names and addresses or no addresses on record.
The holders of these accounts need to file claims and these are the depositors to be entertained on the scheduled CSO.
For depositors with accounts in Banco Filipino Juan Luna branch, the PDIC representatives will entertain them starting June 15 until June 30.
Claims from depositors of BF Mango Avenue branch will then be served starting July 1 to 26 while the BF Mandaue Branch along A.C. Cortes will entertain depositors with claims starting July 27 to August 19.
As of December 2010, there are 10,480 accounts opened in Cebu.
Singson said the three Cebu branches were among the 20 CSO sites servicing claims for for Banco Filipino Savings and Mortgage Bank (BF) depositors on June 15.
Singson said that the first batch of the CSO will be for 20 branches to start on June 15, second batch for 24 branches to start on June 21 and third batch for 18 branches to start on July 15.
She said some branches, however, wouldn’t be used as CSO sites due to space limitations in their premises.
“We remind the depositors to bring their Claims Status Sheets (CSS) issued during the CRO and original copy of the two valid IDs submitted during the filing of the claim. Depositors who are minors are required to submit the original and clear photocopy of birth certificate issued by the National Statistics Office or duly certified copy if issued by the local civil registrar. If the claimant is not the signatory in the bank records, he is required to submit a duly notarized or authenticated Special Power of Attorney executed by the depositor or parent of minor depositor.”
During the CSO, valid claims will be paid onsite. Depositors who filed claims that may be found deficient in supporting documents will be requested to submit additional documents according to Singzon.
As of May 30, PDIC has already paid more than 75,000 depositors with valid accounts amounting to P5,000 and below during the past weeks totaling to about P86.2 million in postal money orders (PMOs), which depositors can have encashed in Land Bank branches nationwide.
Singson said payments for valid accounts with balances of P10,000 and below with complete addresses and without outstanding bank loans started on the last week of May 2011. /Reporter Aileen Garcia-Yap