PDIC starts paying Nation Bank depositors
BACOLOD CITY -- The Philippine Deposit Insurance Corporation (PDIC) Claims Servicing Team is expected to pay 330 depositors of closed Nation Bank until February 27 according to Democrito Bitang, the PDIC-assigned deputy receiver.
"This is because we can accommodate up to 30 depositors a day," he said.
Last Friday the management started to process and pay 30 regular savings depositors at the Nation Bank main office in Bacolod City with balances of P100,000 and below.
As a matter of fact, the biggest claims paid by PDIC in Bacolod on their first day of payouts were P65,000 to P70,000.
As a scheme, a depositor is assigned a specific day when he or she can file a claim, based on the number indicated on the claim form.
There were depositors who were not immediately able to claim payments due to lack of documentary requirements like identification cards.
Some depositors with problem or questions on their accounts were not given claim forms as of now for further examination.
PDIC reminds all depositors personally appear to the office and submit the duly accomplished claim form.
Original evidence of deposit such as savings, certificate of time deposit, or bank statement, including unused checks, and original and photocopy of two valid identification documents are also needed.
On the case of depositors aging 18 below are required to submit a copy of birth certificate duly certified by the National Statistics Office or the Local Civil Registrar.
The same procedure is being followed in the other four branches of Nation Bank in Negros Occidental and Iloilo.
PDIC under the law pays a maximum deposit insurance of P250,000 for each depositor, together with earned interest up to the closure date.
In Western Visayas, Nation Bank has about 6,000 depositors in all its five branches when it officially closed on Dec. 22, 2008. PDIC took over its branches, assets, records, and affairs, 10 days after it declared a bank holiday. The Monetary Board placed the bank under the PDIC receivership on Dec. 19.