‘Clients may claim cash remittances’

The LBC Development Bank yesterday posted an announcement outside their Cebu City branch saying that clients may claim all  ATM Bilis Padala or Remittance Card balances at any LBC Express branch.

Beth Morales of LBC Express in Gorordo Avenue, Cebu City, said owners of the ATM Bilis Padala Card or Remittance Card only need to show the card and any valid ID to claim their money.

Morales said they will  process transactions and transfer money to the LBC Express Padala. Clients may claim their balances within a day.

Claimants will be advised that their senders through ATM Bilis Padala Card should start sending their remittances through LBC Express. This can be done online.

Marina Parado was  among the ATM Bilis Padala Card holders who earlier came to withdraw her balance through the ATM but found out that the Philippine Deposit Insurance Corp. (PDIC)   put the bank under receivership and  closed the ATMs.

“My daughter sent me money through LBC from abroad. I was supposed to withdraw through ATM but the machine was taped by PDIC. I’m just happy that I can still get it through LBC Express,” she said.

The ATM Bilis Padala is where remittances are being sent. Instead of using  transaction numbers to get money, cardholders just have to withdraw by ATM.

Morales said remittance money is separate from cash deposited in the bank by depositors who are directly affected with the closure.

At 9 a.m. tomorrow, the PDIC will hold a depositors’ forum in the Cebu City Public Library at 9 a.m.

After the forum, claim forms will be distributed to depositors, LBC said in its notices.