PRBank depositors have to wait until March 18

By Kit Bagaipo
Inquirer Visayas Bureau
First Posted 06:46:00 03/09/2009

Filed Under: Banking, Legacy banking group

TAGBILARAN CITY—Depositors of the closed Pilipino Rural Bank (PRBank) whose insurance claims are not yet processed by the Philippine Deposit Insurance Corp. (PDIC) will again have to wait until March 18.

The deposit insurer ended on Friday its initial claims servicing operations but hundreds of depositors were unable to get their insurance claims.

Although the PDIC representatives did not reveal the number of claims already paid, they admitted that not all regular savings accounts with deposit balances of P100,000 and below were serviced.

The PRBank Tagbilaran had over 14,000 clients when the bank shut down last Dec. 12, following the collapse of its affiliate rural banks across the country belonging to the Legacy Group.

In an advisory, the PDIC said they would start distributing numbered claim forms at the premises of PRBank on March 18 for depositors with regular savings accounts, time deposits, special savings accounts and current/demand deposits.

The date on the claim form should correspond to a particular filing date, the advisory said.

Depositors are required to personally file their claims except those who are below 7 years old.

According to the PDIC advisory, claims they receive will be processed through its home office in Manila. Valid claims will be paid through registered mail to the depositor’s address indicated in the claim form.

No fees are charged for the processing and payment of all deposit insurance claims, the PDIC reminds depositors of the closed rural bank.