pdic_UsapangPera_GuideBook

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Deposit Insurance Claim Process “This is probably the most crucial part of our discussion as we will now explain to you the process of claiming your deposit insurance,” Orly says before resuming with the discussion. Automatic payment for Valid Accounts with balances of Php15,000 and below Orly quickly announced that depositors with valid accounts amounting to Php15,000 and lower are not required to file claims. These valid accounts are settled through automatic payment. To qualify for automatic payment, these depositors should not have obligations with the closed bank and should have complete and updated addresses in the bank records. Depositors of Php15,000 and below may update their addresses using the Mailing Address Update Form distributed during the Depositors-Borrowers Forum. PDIC sends payment through postal money order to the depositor’s address on record. These money orders may be encashed in any of the local post offices or branches of the Landbank of the Philippines for the convenience of the depositors. In case a depositor with a deposit account amounting to Php15,000 or below did not receive his check, he may visit and inquire with the local postal office nearest to his residence. If the check is not available, he may call the PDIC Public Assistance Hotlines at (632) 841-4630 to 31 or send an e-mail to pad@<strong>pdic</strong>.gov.ph. There are cases when some accounts below Php15,000 need further verifications. Aling Daisy asks, “How about if your deposit balance is over Php15,000?” Filing of claims for Account balances of more than Php15,000 Depositors with account balances of more than Php15,000 and 72 Member: PDIC
depositors who have obligations with the closed bank, regardless of account type and account balance, are required to file claims. Orly answers, “Claims for deposit insurances with account balances of more than Php15,000 are filed personally by the depositor in the premises of the closed bank or at the designated site during the onsite Claims Settlement Operations. The designated site will be announced in the Notice to Depositors through posters and in the newspapers. The Notice is also posted in the PDIC website, www.<strong>pdic</strong>.gov.ph. The Notice to Depositors will also indicate the period of the Claim Settlement Operations at the bank premises or designated site; and the requirements and procedures for filing claims. When the onsite Claims Settlement Operations is concluded, claims can be filed at the PDIC Claims Counter located at the 4th Floor, PDIC Ayala Extension Office, SSS Building, corner V.A. Rufino St., (formerly Herrera St.), Makati City. Claims may also be mailed to: Claims Processing Department Philippine Deposit Insurance Corporation 4/F SSS Building, 6782 Ayala Avenue cor. V.A Rufino St. 1226 Makati City, Philippines “Is there a time frame wherein we need to file our claims?”, asks Mang Domeng. “Yes, Sir,” replies Orly, “depositors of closed banks have up to two years from the actual takeover of the closed bank, to file their claims.” Steps in Filing Claims Orly then proceeds to outline the steps in the filing of claims, as follows: 1. The depositor will need to secure a Claim Form from any authorized PDIC representative. Copies of the form are distributed during the Depositors-Borrowers Forum and may Member: PDIC 73
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Copyright 2013 by the Philippine De
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Foreword Through the Philippine Dep
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insured deposits. This Guidebook is
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Table of Contents A Brief History o
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Just like in the United States of A
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Table 1 1 Maximum Deposit Insurance
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Money is Important 7
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A Brief History of Money At the hou
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Different Forms of Money Seeing his
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Financial Expert’s Corner They sa
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The Different Life-Event Stages Six
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“In our case, we are saving up fo
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The next life-event stage is where
Page 32 and 33: How to Save Mang Domeng, as if to r
Page 34 and 35: Financial Expert’s Corner Saving
Page 36: Why and How to Save 1. There are ma
Page 39 and 40: A few minutes later, Tessie is alre
Page 41 and 42: • Suspicious transactions are tra
Page 43 and 44: Financial Expert’s Corner In acco
Page 45 and 46: Banks may or may not issue an ATM c
Page 47 and 48: He says that all that bank tellers
Page 49 and 50: Tessie expresses some concerns. “
Page 51 and 52: Aling Lorna smiles and continues,
Page 53 and 54: Located on the upper left hand corn
Page 55 and 56: Financial Expert’s Corner To avoi
Page 57 and 58: Mang Domeng says to Aling Lorna,
Page 59 and 60: Financial Expert’s Corner It shou
Page 61 and 62: In closing the deposit account, you
Page 64 and 65: It’s 5:30 AM on a Wednesday, and
Page 66 and 67: The over-reliance on heuristics giv
Page 68 and 69: Financial Expert’s Corner Money a
Page 70 and 71: Financial Expert’s Corner It can
Page 72 and 73: Ponzi Schemes and Pyramiding Aling
Page 74 and 75: But before the couple leaves, Harry
Page 76: More Than Just Interest Rates 1. He
Page 79 and 80: PDIC is also authorized to investig
Page 81: Unable to suppress his smile, Orly
Page 85 and 86: The agent in a “By” deposit and
Page 87 and 88: Financial Expert’s Corner Effecti
Page 89 and 90: 3. How much is Fe Santos’s insure
Page 91 and 92: Member: PDIC 1. PDIC was created by
Page 94 and 95: It is just two weeks before Mang Do
Page 96 and 97: Figure 8 Investment Risk Profile* I
Page 98 and 99: cash or near cash account. Such acc
Page 100 and 101: Financial Expert’s Corner For lon
Page 102 and 103: Ed says, “In their simplest form,
Page 104 and 105: Stocks Mang Domeng notices a bewild
Page 106 and 107: “You see, Nanay, although they ar
Page 108 and 109: Financial Expert’s Corner The adv
Page 110 and 111: Other Places to Put Your Money 1. W
Page 112 and 113: It is just one more week before Man
Page 114 and 115: Loads have a validity of one year f
Page 116 and 117: 3. Know Your Bank’s Service Fees
Page 118 and 119: time deposit automatically renewed
Page 120 and 121: 6. Be Informed About PDIC Deposit I
Page 122 and 123: “Orly, I am an OFW,” Mang Domen
Page 124 and 125: Mang Domeng excitedly replies, “S
Page 126 and 127: The Power of Information 1. You, as
Page 128 and 129: Accrued interest - earned but still
Page 130 and 131: Ponzi Scam - an illegal financial s
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Determining If Your Expenses Are Ju
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Annex B Regulatory Issuance No. 201
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3. Granting high interest rates whe
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ANNEX A: Deposit-Related Activities
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BSP Circular No. 640 (Activities Wh
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Sample Claim Form (Page 1) Annex D
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Sample Claim Status Sheet Annex E 1
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Annex G Republic Act No. 9505 Augus
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(g) “PERA Investment Product” r
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Sec. 7. Separate Asset. -The PERA s
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(d) Disclosure requirements on the
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entitled hereto, shall be subject t
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