PDIC starts paying depositors of closed Camarines Norte bank

MANILA -- The Philippine Deposit Insurance Corporation (PDIC) said Wednesday it started mailing postal money orders (PMOs) to depositors of the closed Rural Bank of Sta. Elena (Camarines Norte), Inc. on Monday, six working days after the bank's takeover last Aug. 3.

In a statement, the PDIC said PMOs have started to be sent to depositors eligible for outright payment and who maintained deposits with the closed bank.

Eligible for outright payment of deposit insurance are depositors with valid deposit balances of PHP100,000 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).

The RuralBank of Sta. Elena was ordered closed by the Bangko Sentral ng Pilipinas last Aug. 2.

It is a single-unit rural bank located in Sta. Elena town in the province of Camarines Norte.

Depositors who have not received their checks are advised to contact the PDIC's Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail PDIC at

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 (PR)