PDIC starts insurance payment to depositors of Antique bank

The Philippine Deposit Insurance Corporation (PDIC) started mailing Postal Money Orders (PMOs) to all depositors eligible for outright payment with deposits in the closed Rural Bank of Tibiao (Antique), Inc. on June 10, 2020, following the lifting of the enhanced community quarantine in Metro Manila.

Eligible for outright payment of deposit insurance are individual depositors with valid deposit balances of PhP100,000 and below who have no outstanding loans with the closed bank, and have complete mailing address in the bank records or updated this information through the PDIC Mailing Address Update Form (MAUF).

PMOs amounting to PhP15,000 and below may be encashed either with the local post office or with the nearest branch of the Land Bank of the Philippines. Meanwhile, PMOs above PhP15,000 may be deposited to the depositor’s account in any local bank.

The PDIC also advised depositors who have already filed their claims thru email during the ECQ to wait for their Payment Notices which provide instructions on how depositors can claim their deposit insurance payments.

Rural Bank of Tibiao (Antique), Inc. was ordered closed by the Monetary Board through Resolution No. 344.A dated March 5, 2020. It is a single-unit rural bank located on Gov A. T. Lim Avenue, Poblacion, Tibiao, Antique.

Depositors who have not received their checks by July 21, 2020 are advised to contact the Public Assistance Department during office hours at telephone number (02) 8841-4141, or e-mail PDIC at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline during office hours at 1-800-1-888-PDIC (7342). Inquiries may also be sent to the official PDIC Facebook account at www.facebook.com/OfficialPDIC.