Borrowers from closed banks are urged to use ARN for proper record keeping

The Philippine Deposit Insurance Corporation (PDIC), liquidator of closed banks, announced that loan repayments and record keeping would be more efficient if closed bank borrowers used their account reference numbers (ARNs) when paying in branches of the National Bank of the Philippines (PNB).

The PDIC explained that the ARN is a unique number generated for each loan account held at closed banks. This ensures that borrower payments are properly recorded and accounted for, providing the state deposit insurer with up-to-date loan balances and a basis to, among other things, enable effective cancellations and/or releases of mortgages on fully repaid loans.

RNAs are provided to borrowers at various times, including when they make walk-in visits to closed bank premises during PDIC takeover operations, or through letters of formal notice sent to all the borrowers. RNAs are also made available to borrowers when making personal visits and inquiries at the PDIC Public Assistance Center on the 3rd Floor, SSS Building, 6782 Ayala Avenue corner VA Rufino St., Makati City.

The liquidator has partnered with the PNB to accept loan repayments from borrowers to make transactions more convenient. When you fill in the PNB payment slip, the ARN must be indicated in the part referring to the “Card number, Subscriber number or Policy/plan/reference number”.

Borrowers who have not yet received their ARN can request through one of the following contact channels: by sending an e-mail to [email protected]by sending a private message to the official PDIC Facebook page at by calling the PDIC Public Helpline hotline during office hours at (02) 8841-4141 (for those in Metro Manila) or the PDIC toll-free line at 1-800-1-888-PDIC or 1-800-1-888-7342 during business hours (for those outside Metro Manila).

The PDIC reminded borrowers of closed banks that despite the bank’s closure, they are still required to pay their loan obligations.

Loan recovery is a mode of liquidation used by the PDIC to be able to pool funds for closed banks and enable the settlement of creditor claims. In addition to paying at PNB branches nationwide, borrowers can also pay their loans personally at the PDIC Public Assistance Center, or by postal money order (PMO) or check payable to the designated account name for the bank closed.

Recently, the PDIC launched its Closed Bank Lending Incentive Program, which offers substantial incentives and discounts to qualified borrowers who will make a one-time cash payment on their loans. Interested borrowers can visit for more details on CLIP.

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