Valiant Bank depositors have until July 16 to file deposit insurance claims

The Philippine Deposit Insurance Corporation (PDIC) announced that depositors of the closed Valiant Bank, Inc. (A Rural Bank) in Iloilo City have until July 16, 2021 to file their deposit insurance claims.

The last day for filing deposit insurance claims was moved to July 16, 2021 from May 17, 2021 to allow the depositors more time to prepare the required documents for filing of claims, and to ensure that affected depositors are not disenfranchised because of the implementation of community quarantine.

Based on latest PDIC data, deposit insurance claims for 1,294 deposit accounts with aggregate insured deposits amounting to PhP26.9 million have yet to be filed by depositors. Data also showed that as of May 31, 2021, PDIC had paid depositors of the closed Valiant Bank the total amount of PhP386.7 million, corresponding to 91.2% of the bank’s total insured deposits amounting to PhP424.1 million.

Depositors are advised to file their claims either via electronic mail (e-mail) at pad@pdic.gov.ph or through postal mail or courier addressed to the PDIC Public Assistance Department, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City 1226.

Claims may also be filed personally at the PDIC’s Public Assistance Center in Makati City on a per appointment basis. To make an appointment, depositors may call the Public Assistance Hotline at (02) 8841-4141 or at Toll Free number 1-800-1-888-7342 or 1-800-1-888-PDIC, send an email to pad@pdic.gov.ph, or send a private message at PDIC’s official Facebook page, www.facebook.com/OfficialPDIC.

When filing claims through email, scanned copies or photo images of the signed, accomplished and notarized Claim Form, evidence of deposit (i.e., savings passbook, certificate of time deposit, etc.), and one valid photo-bearing ID with the depositor’s signature should be attached to the email.

Scanned copy or photo image of the first page with account name/number and last page with account balance, or the front and back portion of the certificate of time deposit should be sent as email attachments.

For claims filed personally or via postal mail or courier service, depositors are advised to submit the accomplished, signed and notarized Claim Form, original Savings Passbook and/or Certificate of Time Deposit and photocopy of one (1) valid photo-bearing ID with depositor’s signature.

The depositors are further advised that additional documents and/or original copy of documents submitted via email may be required by PDIC, as necessary, in the course of evaluation and processing of claims.

The Claim Form may be downloaded from the PDIC website at http://www.pdic.gov.ph/files/New_PDIC_Claim_Form.pdf. The Claim Form is free and there is no fee for filing deposit insurance claims.

Depositors who are below 18 years old should be represented by a parent or guardian who should sign on the Claim Form, and submit a photocopy of their Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar together with a valid ID of the parent or guardian. Representatives of claimants are required to submit an original copy of a notarized Special Power of Attorney (SPA) of the depositor, or parent or guardian of a minor depositor. The Special Power of Attorney template may be downloaded from the PDIC website.

Under the PDIC Charter, depositors are given two years from bank takeover to file deposit insurance claims with the PDIC. Valiant Bank was taken over by the PDIC on May 17, 2019 after it was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on May 16, 2019.

Depositors who have outstanding loans or payables to the bank will be referred to the duly designated Loans Officer prior to the settlement of their deposit insurance claims.

For more information, depositors may call the PDIC Public Assistance Hotline at (02) 8841-41-41, or the Toll-free hotline 1-800-1-888-PDIC or 1-800-1-888-7342 during office hours. Depositors may also send an e-mail to the PDIC Public Assistance Department at pad@pdic.gov.ph or private message at the official PDIC Facebook page, www.facebook.com/OfficialPDIC.