PDIC starts deposit insurance payment to depositors of the closed Community Rural Bank of Dingras (Ilocos Norte), Inc.

The Philippine Deposit Insurance Corporation (PDIC) announced that it has started mailing postal money orders (PMOs) for all valid deposit accounts with balances of ₱100,000 and below maintained with the closed Community Rural Bank of Dingras (Ilocos Norte), Inc. on November 17, 2016, 14 days after the bank’s closure on November 3, 2016.

Eligible to receive early payments via PMOs are depositors with valid deposit balances of ₱100,000 and below; who have no outstanding loans with the closed bank, and who have complete mailing address in the bank records or updated this information through the PDIC Mailing Address Update Form (MAUF).

These PMOs may be encashed either with the local postal office or with the nearest branch of the Land Bank of the Philippines.

Depositors who do not receive their checks are advised to contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail PDIC at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342). Inquiries may also be sent to the official PDIC Facebook account at www.facebook.com/OfficialPDIC.

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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