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PDIC starts deposit insurance payment to depositors of the closed Women’s Rural Bank, Inc.

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Deposits PHP100K and below

THE Philippine Deposit Insurance Corporation (PDIC) announced that it has started mailing Postal Money Orders (PMOs) to all depositors eligible for outright payment who maintained deposits with the closed Women’s Rural Bank, Inc. on July 25, 2018, eight working days after the bank’s takeover on July 13, 2018. 

Eligible for outright payment of deposit insurance are depositors with valid deposit balances of Php 100,000 and below who have no outstanding loans with the closed bank, and have complete mailing address in the bank records or updated this information through the PDIC Mailing Address Update Form (MAUF). 

PMOs amounting to Php 15,000 and below may be encashed either with the local postal office or with the nearest branch of the Land Bank of the Philippines. Meanwhile, PMOs above Php 15,000 may be deposited to the depositor’s account in any local bank. 

Women’s Rural Bank was ordered closed by the Monetary Board through Resolution No. 1122.A dated July 12, 2018. It is a two-unit rural bank with Head Office located at 29-A, Carandang St., Barangay C (Pob.)., Rosario, Batangas. Its lone branch is located in Brgy. Bihis, Santa Teresita, Batangas. 

Depositors who have not received 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.

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