Banco Filipino Update

I've been really busy the past few months (notice the sharp drop in blog post rate) but I was finally able to file a claim with the PDIC this month. I'd actually had the documents ready for some months, I just didn't have the time. I spent a little less than an hour at the PDIC office. Most of that time was spent waiting for my number to be called. The actual filing took less than ten minutes, because all my documents were in order. I found the PDIC staff to be pleasant and courteous. There were a lot of other people filing claims, I don't know how many of them were Banco Filipino depositors.
Here are a few tips for Banco Filipino account holders wo have yet to file their claims:
1. Download the form here: PDIC Claim Form

2. Read the instructions on the form carefully and fill in the form. Instructions are also available at the PDIC website: How to File Claims

3. Make sure to bring all required original documents and photocopies.

4. Bring three valid IDs if you have them. One for the building pass, and two to present to the PDIC officer (I think they only need one but better to be safe.). If you only have one ID you might be allowed to retrieve your ID from the building guard.

The PDIC office is located at the 4th floor of the SSS building, Rufino (formerly Herrera) corner Ayala.

Banco Filipino

The Monetary Board decided yesterday (March 17, 2011) to place Banco Filipino under the receivership of the Philippine Deposit Insurance Corporation (PDIC). This ends days of depositor uncertainty. Now the waiting begins. Depositors with balances of P5000 and below will be mailed postal money orders. Those with larger deposits need to file claims forms.
Unfortunately I have some money deposited with Banco Filipino. I was attracted to the higher interest rates and was quite aware of the risks, especially in light of the Legacy debacle. What's more I was already aware a few months ago of trouble brewing between the bank and the BSP. There were some news reports about their war of words, but I chose to ignore them. There are lessons to be learned here, I'll let you decide what they are.
Media Release on the BSP Website
Edit: Here's a page on the PDIC site where you can download a claim form: PDIC: How to file claims
Scroll to the bottom of the page for the form download link.