Issue of January 7, 2018

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Abra Rural Bank depositors reminded on claim filing sked
by Jane B. Cadalig

Depositors of the local bank in Abra that was closed on Jan. 7, 2016 were reminded to file their claims on or before Jan. 8, the deadline of filing of deposit insurance claims.

The Philippine Deposit Insurance Corporation said that the claims for 15 accounts with a total insured deposit of P173,544.16 of the closed Rural Bank of Villaviciosa in Abra have yet to be filed by their respective depositors.

The PDIC said the depositors may file their claims in person or through mail.

Those who will claim in person were advised to proceed to the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City during office hours.

Those who opt to claim through mail should address their claim to the PDIC Public Assistance Department, 6th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

The PDIC Charter provides that depositors have two years from bank closure to file their claims. Rural Bank of Villaviciosa was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on Jan. 7, 2016.

As of Oct. 31, 2017, the PDIC said it has paid claims amounting to P1.98 million, which represents 89.1 percent of the bank’s total insured deposits of P2.22M.

The state deposit insurer said it would no longer accept depositor’s claims from the Rural Bank of Villaviciosa after Jan. 8.

“Their (those who fail to beat the deadline) recourse is to file claims against the assets of the closed bank through PDIC as liquidator. Payment of claims shall depend on available assets of the bank for distribution to creditors and the approval of the Liquidation Court,” the PDIC said.

Depositors who will claim in person were required to submit their original evidence of deposit and present one valid photo-bearing ID with signature and were advised to bring at least two valid IDs in case of discrepancies in their signature.

Those who opt to file their claims through mail should enclose their original evidence of deposit and photocopy of one valid photo-bearing ID with signature together with an accomplished claim form, which can be downloaded from

The PDIC said that depositors who are below 18 years old should submit a photocopy of their birth certificate issued by the Philippine Statistics Authority or a certified copy issued by the Local Civil Registrar.

Claimants who are not the signatories in the bank records are also required to submit an original copy of a notarized Special Power of Attorney (SPA) of the depositor or parent of a minor depositor. The format of the SPA may also be downloaded from the PDIC website.

Depositors who have been notified of their documentary deficiencies were also reminded to comply with the requirements indicated in the letter.

The procedures and requirements for the filing of deposit insurance claims are posted at

The PDIC said depositors who have outstanding loans or payables to the bank would be referred to the designated Loans Officer prior to the settlement of their deposit insurance claims.

For details, depositors and depositor-borrowers may contact the Public Assistance Department at (02) 841-4630 to 31, or e-mail

Those residing outside Metro Manila may call the PDIC toll free at 1-800-1-888-PDIC or 1-800-1-888-7342 or send private messages at Facebook through

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