PDIC pays deposit insurance to depositors of the closed Rural Bank of Polomolok

KIDAPAWAN CITY - The Philippine Deposit Insurance Corporation (PDIC) has started paying deposit insurance through Postal Money Orders (PMOs) to all depositors eligible for outright payment who maintained deposits with the closed Rural Bank of Polomolok (South Cotabato), Inc.

Eligible for outright payment of deposit insurance are individual depositors with valid deposit balances of P100,000 and below who have no outstanding loans with the closed bank and have a complete mailing address in the bank records or updated this information through the PDIC Mailing Address Update Form.

 

The PMOs amounting to P15,000 and below may be encashed either with the local

post office or with the nearest branch of the Land Bank of the Philippines. Meanwhile, PMOs above P15,000 may be deposited to the depositor’s account in any local bank.

 

Depositors who have not received their checks after October 6 from their local post office are advised to contact the PDIC Public Assistance Department during office hours at telephone number (02) 8841-4141, or e-mail PDIC at polomolok-pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline during office hours at 1-800-1-888-PDIC (7342).

 

Rural Bank of Polomolok (South Cotabato), Inc. was ordered closed by virtue of Monetary Board Resolution No. 985.A dated July 14, 2022. It is a four-unit rural bank with Head Office located on National Highway in the village of Magsaysay in Polomolok town in South Cotabato. Its branches are in General Santos City, South Cotabato; and in Alabel and Maasim in Sarangani. (Mindanao Examiner)