PDIC continues processing of claims on shuttered bank

Deposit insurance claims for the closed GSIS Family Bank (A Thrift Bank) may be filed at the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City until May 14, the Philippine Deposit Insurance Corp. (PDIC) said. 

GSIS Family Bank, which was ordered closed on May 13, has P748.8 million in total estimated insured deposits involving 13,800 accounts.

A total of P481.3 million in insured deposits covering 2,192 accounts was paid during the onsite claims settlement operations (CSO).

Another P159.2 million was settled through postal money orders sent via registered mail to 10,642 accounts of depositors with balances of P100,000 and below where filing of claims was waived by the PDIC.

As of June 17, the PDIC has yet to receive deposit insurance claims for P102.4 million, covering 852 accounts.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the bank is on May 14, 2018. After that date, the PDIC shall no longer accept any deposit insurance claim.

When filing deposit insurance claims at the PDIC Public Assistance Center, depositors are advised to present an original evidence of deposit and two valid photo-bearing IDs with signature. When filing claims through mail, the same set of documents, including a duly accomplished claim form, must be enclosed.

Depositors who are 18 years old and younger should submit either a photocopy of their birth certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the local civil registrar as an additional requirement, with the claim form signed by the parent. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized special power of attorney.

In the case of a minor depositor, a Special Power of Attorney must be executed by the parent. The format of the special power of attorney may be downloaded from the PDIC website.