These are the Terms and Conditions ("Agreement") for PSBank Online ("PSBO") and all its features and/or functionalities ("Service") between PSBank ("Bank") and its depositors and borrowers ("Customer") who registered for the Online Banking Service. This Agreement shall be in addition to, and not in derogation of, other terms and conditions relating to any account of the Customer and/or the respective product or service provided by the Bank.

Your availment and activation of the Online Banking Service will be deemed as confirmation that you have read and understood the Agreement and that you unconditionally bind yourself to all terms and conditions herein. PSBank may, at any time, modify this Agreement, and such modifications shall be effective immediately upon posting of the modified Agreement in the PSBank Website @ www.psbank.com.ph, or in the PSBO. You agree to review the Agreement periodically, and your continued access or use of the Service shall be deemed as your conclusive acceptance of the modified Agreement.

This Agreement shall be effective, valid, and binding from the time you agreed to it and will exist up to the time that it is terminated by you or us, save for those provisions that will remain effective after termination as stated in the Agreement, laws or regulations.

A version of this Agreement in a language other than English may be provided for convenience only, and you understand and agree that the English language version shall prevail in the event of any conflict.

DEFINITIONS

'Account' refers to the Savings / Current / Time Deposit, Loan, Debit or any other type of account which a Customer maintains with PSBank and has enrolled and/or opened in PSBank Online banking service.

‘User Account’ refers to the account created by the Customer and registered at PSBank Online in order to access PSBO, subject to its activation by the Customer, the existence of active Account/s, and the terms and conditions herein.

'Bank' shall be used alternately with 'PSBank' to refer to Philippine Savings Bank.

'App' means the Bank's Mobile Banking Application which will be downloaded onto the mobile phone of the Customer. Usual data charges apply for the App download.

‘Check Image’ is an electronic image of an original paper check drawn on PSBank or other local banks against or payable to the account of the Customer.

'Customer' refers to an individual client (single proprietors included) who maintains an account with PSBank and enroll this in and uses PSBank Online banking service.

‘Device’ refers to the personal computer, desktop, laptop or any device being used by the Customer in accessing PSBO.

'Enroll / Enrollment' refers to the Customer's initiative to register with the PSBank Online banking service subject to approval of the Bank.

'Financial Transactions' refer to any payment, prepaid reloading, fund transfer requests, mobile check deposit, PayMe, PaSend and Cardless Withdrawal request services, and other debit transactions initiated by Customer thru PSBO that maybe executed immediately or on a future date specified by Customer.

'Instruction' shall be used herein to collectively refer to any inquiry, change, update, subscription or any other requests such as but not limited to financial and non-financial transactions requested by Customer using his Password.

‘Mobile Check Deposit’ shall refer to the service/feature which allows a customer to deposit qualified / eligible checks electronically to the customer’s PSBank account or allow customer to pay bill via mobile check deposit by capturing an electronic check image acceptable to, and within the parameters set by PSBank, and transmitting electronically such check image and information to PSBank.

'PaSend Instant Cash Padala' shall refer to the service / feature which allows a customer to send cash via mobile, and can be withdrawn by the beneficiaries at any PSBank or Metrobank ATMs.

‘PayMe’ shall refer to the service / feature which enables customer to collect cash from other PSB Mobile users through their mobile number.

'Password' pertains to the 8 to 15 -digit alphanumeric password used by Customer to access PSBO or transact an online banking transaction. It refers to either the password nominated by the Customer or the one-time transaction password generated by the Bank to authenticate a financial transaction.

'Username' pertains to the up to 15 alphanumeric user access nominated by the Customer during his enrollment to the PSBank Online banking service.

‘Pre-termination’ refers to the full withdrawal of the deposit amount before maturity date of the deposit.

'Prepaid Reload', refers to the payment service that allows Customers to reload/top-up their PSBank Prepaid Accounts, prepaid cellular and/or broadband accounts.

‘Quick Response (QR) Code’, refers to a unique machine-readable code consisting of an array of black and white squares, used for storing information to identify an intended beneficiary of funds (for fund transfers) or a payee (for payments).

'Service' shall be used herein to collectively describe the PSBank Online banking service, including the mobile check deposit service, online account opening service, and all its features and functionalities such as financial and non-financial transactions.

'SMS Alerts', refers to the subscription-based SMS messaging functionality of PSBank Online wherein the Customer may request for in order to receive periodic SMS messages based on triggers or conditions s/he set on his Account.

All the terms "You", "Your" and "Yours" will refer to the PSBank Customer enrolled in PSBank Online Banking Service. The terms "We", "Us" and "Our" refer to PSBank.

ONE TIME PASSWORD (OTP)

The service is an added protection on the use of PSBank Online by requiring you to authenticate your identity by using an OTP, which will be generated via PSBank Online.

The generated OTP is valid for five (5) minutes from the time it was requested.

SAVE USERNAME

The Service allows you to save your username in PSBO to eliminate the need to input for future logins. After opting in to the Service and upon opening the App, the username field on the login page will be populated automatically. The characters displayed will be masked except for the last 3 characters.

TOUCH ID / FACE ID

The Service provides you an alternative way to authenticate your identity to login to the App. Instead of using your Username and Password, your identity is authenticated using any of the fingerprints / biometrics registered in your mobile phone. This feature is only available to mobile phones with fingerprint sensors and with OS versions that support the Touch ID/Face ID functionality.

QUICK VIEW

The Service allows you to view your account balances in PSBank Mobile App without authentication. By clicking the Quick View button in the log-in page, client will be able to view the balances of his/her enrolled accounts. Through the Service, you will also be able to Lock / Unlock all cards linked to a chosen Account. Only the last 4 digits of the account number of each account will be viewable in the Service.

ELIGIBLE CUSTOMER

PSBank Online banking services are available on Customer’s request for enrollment and upon approval of the Bank.

Any PSBank Customer with active or new accounts may enroll in the Online Banking Service by providing the needed customer information and nominating a username and password in accessing his/her bank accounts thru PSBO. The bank has the sole discretion to approve or decline a Customer’s enrollment requests for any justifiable reason.

Joint "or" account may be enrolled in PSBank Online and Mobile banking. Each owner / holder of the joint “or" account has to enroll individually and separately use a different username and password.  "Joint "AND" accounts are not allowed.  The Accountholder(s) agrees that all transactions arising from the use of PSBank Online and Mobile Banking facilities to operate designated "Joint OR" account(s) shall be binding on all "Joint OR" Accountholders.

Partnership and corporate accounts, as well as joint "and" accounts, cannot be enrolled in the Online Banking Service.

ONLINE ACCOUNT OPENING PROCESS

’Online Account Opening’ shall refer to registering, opening and setting-up your PSBank Mobile account in reference to different PSBank products and services, including but not limited to Savings / Current / Time Deposit, Loan, Debit or any other type of account which a Customer will open and maintain thru the use of PSBank Mobile (PSBM).Depending on the specific PSBank Product or Service that you are availing, you will be asked to provide information such as your complete name, address, mobile number, email address, date of birth, place of birth, nationality, source of funds, nature of work, photo of yourself and your valid ID in accordance with the requirements of Know-Your-Customer (“KYC”) of the BSP.  We may verify your registration information through a third party verification vendor, as we may deem necessary.  In some cases, we may ask you to provide additional details or information that can aid in verifying your identity.

This online account opening service is available thru PSBank Mobile for eligible Customers.  Additional “Account”, may be opened, subject to the satisfactory compliance with the requirements of the bank, along with the existing regulations and laws on Anti-Money Laundering Act and the Bangko Sentral ng Pilipinas rules.

You agree with the following process of Online Account opening through PSB Mobile:

• You should be a Filipino citizen aged 18 and above
• You need to provide all the information being required in the Online Application Form
• You will submit a valid ID and take a live photo of one-self/selfie
• You will nominate log-in credentials needed to facilitate enrollment in PSBM/PSBO
• Online Account Opening facility will issue a Reference Number to acknowledge receipt of your application
• The information and other personal details you will provide will be verified by the Bank in a manner it seems fit and appropriate which may include but not limited to manual, electronic and other means, in accordance with the policies and  procedures of the Bank, and the rules and regulations of the Bangko Sentral ng Pilipinas
• If there are additional supporting documents that will be required, you will be instructed to upload the said documents to the Bank’s Corporate Website – Document Upload module

ACCOUNT OPENED THRU ONLINE ACCOUNT OPENING

Savings account will be automatically opened for qualified Online Account Opening applications.  This account will automatically be enrolled in the PSBank Mobile App and Online services.  The account is zero maintaining balance but you need to fund this account within 90 working days.  Otherwise, account will automatically be closed if not funded after the 90-day period.  Once the account is funded, you will have the option to request for an ATM Debit Mastercard. In opening the account thru PSBM App:

• You hereby certify that all personal, financial and all other kinds of information pertaining to yourself, as provided in your deposit account application are true and correct. You authorize PSBank to verify your Information from other banks, credit bureaus, government and/or private institution where your Information may be obtained.
• You hereby certify that all supporting documents submitted in connection with your deposit account application are authentic and contain true and accurate information. You authorize PSBank to verify your Supporting Documents with government agencies and/or other private institutions.
• You understand that the collection and processing of your information are necessary for PSBank’s evaluation of your deposit account application and for other legal purposes as provided in this Agreement.
• You understand that any misrepresentation of your Information or withholding of information required to be disclosed herein, or any finding that your Supporting Documents are spurious or incorrect may cause the disapproval of your deposit account application.
• You acknowledge that the final decision to approve or decline my deposit account application is upon the absolute discretion of PSBank.
• You agree that your deposit account application remains PSBank’s property and the same may be used on its discretion whether your deposit account application is granted or not.
• You authorize PSBank to send you status of your deposit account application and /or updates about your deposit account via SMS / text, email, mail or other means of communication.
• In case of disapproval of your deposit account application, the Bank shall not be obliged to disclose the reason/s for such disapproval.

MOBILE CHECK DEPOSIT

This service is available exclusively thru the PSBank Mobile App for eligible customer with individual or “joint or” deposit account, maintained at the Bank and enrolled in PSBM App.

The Bank has the sole discretion in the determination of checks that are appropriate for this service. The Bank shall have no liability to you or any other person in the conversion and processing of your deposited check to a Check Image.

You agree that you shall only deposit qualified/eligible checks which have met all of the following requirements:

• Checks are drawn on the Bank or other local banks;
• Checks are payable in Philippine currency only;
• Checks are dated not more than 6 months prior to the date of deposit;
• Checks shall be either payable to:
  • The Customer that owns the account that the check is being deposited to. Checks that are payable to joint “and” accounts are not acceptable; or
  • The billers/merchants with whom the Bank has arrangements for mobile check payment, and validly issued by the Customer who is availing the Mobile Check Deposit.
• Checks must be completely filled out, signed, and endorsed/presented, in accordance with the pertinent laws on negotiable instruments;
• Checks shall not have any alteration;
• The entire amount indicated in the check must be deposited to the client’s current/savings account or, in the case of bills payments, deposited entirely to a specific biller/merchant. Partial negotiation shall not be allowed under this service; and
• Checks must not have been previously endorsed/negotiated/presented, either manually or electronically. Checks previously deposited through PSBank Mobile Banking which were returned shall be directly deposited to your Branch of Account, if for re-deposit or second presentment.
• Checks are acceptable under the terms of your PSBank Account and not prohibited by PSBank under the current rules relating to the service.

The Bank, at its sole discretion, may change periodically the foregoing requirements without prior notice. You agree to follow any and all other procedures and instructions for use of the Mobile Check deposit as the Bank may establish from time to time.

In order to use the Service, you must obtain and maintain, at your expense, compatible hardware and software as specified by PSBank from time to time.

To avail of the Mobile Check Deposit, you agree to perform and complete the following procedure:

1. You have to capture an electronic image, through the use of any device capable of capturing images, of a qualified check and you have to perform the following:
   1. Indicate the following at the back of the check:
      • “For electronic endorsement at PSBank only”
      • Account No. where the check will be deposited
      • Date of Deposit
   2. Endorse the item by signing at the back thereof. By endorsing the item, you agree that any item transmitted through this service is for mobile deposit only.
2. The check electronic image must be legible and must pass the Image Quality Assurance (IQA) standards set by PCHC; and
3. Once prompted, you must upload the check image to PSBM and type in all necessary information required. Details shall include, but not be limited to, name of payee; name of payor; issuing bank; date of issuance; full amount of the check in words and in figures; and purpose (for bills payment transactions).
4. You shall also be responsible for visually inspecting the check and ensuring its legibility. You shall be responsible for accurately capturing and uploading a check image and the correct information of the check into PSBM. The Bank shall not be liable for rejected/returned checks which do not meet the foregoing requirements and specifications.

Once the Check Image has been uploaded to PSBM, the Bank shall validate the Check Image if it meets the required specifications and Image Quality Assurance (IQA) standards, as determined by the Bank. Once the check image has been validated to have passed the required specifications, PSBank Clearing Department shall review the check on its features, technicalities and shall ensure that the check is compliant with PSBank policies and PCHC’s rules.  Checks received within the set clearing cut-off shall be processed within the day. Checks received after the clearing cut-off shall be processed the next banking day.

While the check is still being processed, you may monitor the pending amount to be credited to your account under “Account Details” of PSBM. You may also monitor the status of the check submitted which should be reflected under “Scheduled / Pending Transactions”.

You shall be notified of the status of your deposit when the:

• Check has been received and will be submitted for processing;
• Check amount has been credited to payee account;
• Check has been rejected by Clearing Department, CICS or PCHC; or
• Check has been cleared or has been dishonored.

Once the check has been successfully processed and credited to payee account, the check images should be properly tagged that they were electronically processed.

For your protection, the Bank may establish limits on the amount and/or number of transactions per business day. The Bank may periodically change, without need of prior notice, the foregoing limits in accordance with the pertinent laws, rules, and regulations.

When using the service, you may experience technical or other difficulties. We cannot assume responsibility for any technical or other difficulties or any resulting damages that you may incur. The service has qualification requirements, and we reserve the right to change the qualifications at any time without prior notice. We reserve the right to change, suspend or discontinue the service, in whole or in part, or your use of the service, in whole or in part, immediately and at any time without prior notice to you.

You agree to notify PSBank of any suspected errors regarding items deposited through the service.

In availing the mobile check deposit service, you warrant to the Bank that:

• You shall only deposit qualified / eligible checks;
• You shall not deposit duplicate checks, re-deposit or renegotiate the corresponding paper check;
• All information you have provided to the Bank are true and accurate;
• You shall comply with the terms and conditions of this Agreement, applicable laws, rules and regulations, and any and all procedures and instructions for use of the service as the Bank may establish from time to time;
• You are not aware of any circumstances which may impair the acceptability of check;
• In mobile check deposit for bills payments, you are solely responsible in ensuring that you have sufficient funds in your account. The Bank shall not be liable if such mobile check deposit is rejected due to insufficiency of funds.
• Once the check has been successfully deposited and negotiated, you shall hold PSBank, its directors, employees and agents free and harmless from any claim, action, damage, loss, liability, costs and all other expenses suffered or incurred in connection with a claim, suit, demand or other proceeding, or any damage or cost incurred arising from or in relation to this service.
• You shall be solely responsible for the original Item, including storage, retrieval and destruction. Upon your receipt of the Bank’s confirmation that it has received an image that you transmitted, you agree to prominently mark the item as “Electronically Presented” or “VOID” and to retain the physical/original copy of check for at least one-hundred eighty (180) calendar days from the date of the image transmission in a place of safekeeping and not to transmit or provide the check to any other person or financial institution. After 180 days, you agree to destroy the check that you transmitted as an image, or otherwise render it incapable of further transmission, deposit, or presentment. During the time the retained check is available, you agree to promptly provide it to the Bank upon its request to facilitate the clearing and collection process, to address third party claims, or for our own audit purposes. You agree that the electronic image of the Item or check as defined by Law and the Rules on Electronic Evidence shall become the legal and faithful representation of the Item for purposes of the Mobile Check Deposit.

You agree that fee/s may be charged for this service, and for any and all processed checks, including returned / rejected checks. For this purpose, you authorize the Bank to charge and debit any such fee from your account.

The manner in which the items are cleared, presented for payment, and collected shall be in PSBank's sole discretion subject to the Rules for Deposit Accounts and disclosures governing your account.

The Bank, at its sole discretion, may reject a mobile check deposit transaction if such transaction is not in accordance with this Agreement or if not in the best interests of the Bank.

We are not responsible for checks that we do not receive or for images that are dropped during transmission. An image of a check shall be deemed received when you receive a confirmation from PSBank that we have received the image. Receipt of such confirmation does not mean that the transmission was error free or complete. If there is a discrepancy between the entered and confirmed amount against the amount on the scanned image, we will credit the account based on the scanned image. The check shall be deemed to have been deposited at the branch where the account is maintained.

We further reserve the right to charge back to your account at any time; any item that we subsequently determine was not an eligible check. You agree that PSBank is not liable for any loss, costs, or fees you may incur as a result of our chargeback of an ineligible check.

TIME DEPOSIT

The Depositor agrees with the placement of its funds to a Time Deposit indicated in the Time Deposit Confirmation Advice (TDCA), which shall contain, among others, the principal, term, affiliate account and interest rate.

The TDCA shall be issued under the name of the Depositor.  It is not a negotiable instrument and may not be negotiated by endorsement and/or delivery but may be assigned to the Bank with prior consent of Depositor in writing.

The Time Deposit account opened in the PSB Online shall have an affiliate account. The source account you selected in opening Time Deposit Account in the PSB Online will automatically be your affiliate account for the crediting of principal amount and/or interest of Time Deposit Account on maturity or pre-termination.

Affiliate accounts should be under the same account name / ownership as the Time Deposit Account.

You may choose short term placements in 30, 60 or 90 days. With maturity instructions:

• Payout Principal and Interest Upon Maturity
• Payout Interest and Rollover Principal Upon Maturity
• Rollover Principal and Interest Upon Maturity

We shall send via email to your declared email address the corresponding Confirmation Advice for the Time Deposit placements you made via PSBO.

Pre-Termination shall be done via PSBO, the App or at any PSBank Branch.

Pre-termination is defined as the partial or full withdrawal of the deposit amount before maturity date of the deposit. Pre-termination of a time deposit account is subject to the Bank's approval and is subject to documentary stamp taxes and pre-termination penalty, which shall be for the account of the Depositor.

A partial withdrawal before its maturity date will pre-terminate the account. The remaining balance, if re-deposited, will be considered as a new deposit under a new interest rate and account number.

Pre-Termination of a Time deposit account is subject to documentary stamp taxes and pre-termination charges, which shall be for your account.

CONSENT TO PROCESSING AND SHARING OF DATA

In providing the Information and related electronic documents and in availing the PSBO, you hereby authorize the Bank, without need of prior notice, to collect, record, use, process, store, and/or share to any of its affiliates and/or subsidiaries within the Metrobank Group (the Group), or its agents or service providers, or third parties which provide necessary and related services or have contractual obligations with the Group, or to any government agency or regulatory body authorized by law to receive, my Information, personal circumstances and relevant account information, data or opinion, including but not limited to account opening date, account balances and any or all other Information pertaining to all my Account/s now existing and/or which hereafter may be opened, whether or not assigned as collateral, for any of the following purposes:

1. In order to commence and facilitate the efficient delivery, administration, operation and/or implementation of your deposit account and other related products and services you availed from the Bank;
2. For your protection and/or of the Bank against fraudulent, unauthorized, or illegal transactions, and anti-money laundering and terrorist financing risks;
3. In the validation, verification, and/or updating of your Information and related documents;
4. In order for the Bank to enforce its rights and interests and/or to perform its obligation by reason of any law, rules and regulations, contract, or orders from any court or quasi-judicial and administrative offices;
5. In the investigation, prosecution, or defense of the Bank or its directors, officers, and/or employees with regard to the settlement of disputes or claims pertaining to this deposit account and other related products and services.;
6. In order to communicate with you relevant marketing information, to carry out market research about their products and services, cross-refer, cross-sell, inquire on my status, and make credit opinion and evaluation and that you are aware that you will be contacted through automated or electronic means including email, phone, mobile applications, and post or automated calls; and
7. In order to analyze your banking and financial transactions so that they can make a customer profile and send you customized communications.

In granting the above authorities, Depositor waives his or her right to data privacy and confidentiality and such other rights as may be provided under Republic Act (R.A.) No. 1405 (Law on Secrecy of Bank Deposits), R.A. No. 6426 (Foreign Currency Deposit Act of the Philippines), R.A. No. 8791 (General Banking Law of 2000), R.A. No. 10173 (Data Privacy Act of 2012), and all other applicable rules and regulations issued by the Bangko Sentral ng Pilipinas and other regulatory bodies that uphold data privacy and confidentiality, which may be in conflict with the Bank’s obligation in carrying out said authorities.

For Interbank Fund Transfer transactions, you hereby give your consent to the implementation of PESONet and InstaPay-related services, including the sharing of relevant data, to prevent fraud and unlawful access to InstaPay and PESONet accounts and transactions.

Depositor is aware that the data subject rights available to him or her are listed on PSBank’s Privacy Policy Statement available on https://www.psbank.com.ph/ and that the above consent and authorization shall remain valid and subsisting unless otherwise revoked or cancelled in writing.

SECURITY

The Bank shall process and safeguard Customer's personal, account and any other information communicated to it in accordance with the declared, specified and legitimate purpose for which they were obtained within the bounds of applicable Philippine laws  such as Republic Act Nos. 1405 and 6426 (deposit secrecy laws), Republic Act No. 10173 (Data Privacy Act of 2012), their Implementing Rules & Regulations and other related rules & regulations that may be issued by the pertinent regulatory agencies such as, but not limited to,  the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), and the National Privacy Commission (NPC).

The Privacy and Security Policy, which contains the norms, infrastructure, standards, and procedures by which the Bank shall continually safeguard customer information and ensure its confidentiality, shall be made available to Customer through the Bank's website.

You are aware that PSBank Online is accessible through the username and password you registered with the Bank and any Instruction using the same, whether initiated by you or not, shall be deemed to have originated from you.

You are aware of the confidential nature of your password or any other passwords, and this Agreement and confirm that you accept full responsibility for all transactions processed through the use of your password. Any Instruction using your password shall be conclusively presumed to have been made or authorized by you.

You agree that the Bank shall not be liable for any fraudulent, duplicate or erroneous instructions given to the Bank by usage of your password. The Bank shall not be required to verify or make further inquiry into the identity of the sender, or the message integrity of any Instruction received by it, so long as it satisfies itself of the correctness of the username, password and /or mobile phone device you used to transact on PSB Online.

You shall not disclose to other people any information that should only be known by you (Account Number and assigned Account Nickname, Username and Password). You shall not hold PSBank liable, and shall further hold it free and harmless, and defend it, against any and all claims or causes of action or accusation, for all unauthorized transactions as a consequence of your Account details and PSB Online information being known and hence misused by any other person.

You understand that the Service has various internal security measures and you agree to use the following precautions when using the Service, to further minimize the probability of error, fraud or any unauthorized transactions:

• You shall not store nor record your password in the manner that would compromise the security of your PSBank Online transactions.
• You undertake to change your password at regular interval, at the instruction of PSBank, or on any event of breach of confidentiality.
• You hereby acknowledge and accept that SMS notifications may be sent to you without being encrypted and may include your name and information pertaining to your Account(s). You undertake to delete from the Inbox / Sent Items Folder of the mobile phone and/or of the e-mail address all messages relating to the Service including but not limited to SMS Alerts that may contain certain Account information. The Bank shall not be held liable for any breach of confidentiality of Account details sent to the Customer's mobile device and/or email.
• You shall log off after using the Service to prevent unauthorized access to your account.
• You undertake to protect your mobile device / telecommunications equipment from any data failure, corruption, computer viruses and bugs or related defects.

You undertake to inform and call PSBank Customer Experience Group, immediately and without delay, of any event of loss / stolen or change of mobile phone and/or SIM for immediate deactivation of the Service.  All transactions and instructions conducted and received via your SIM prior to the knowledge of PSBank of such loss or theft shall be binding upon you and shall be presumed to have been sent by you. You shall therefore not hold PSBank liable, and shall further hold it free and harmless, and defend it, against any and all claims or causes of action or accusation, for all unauthorized transactions and instructions executed prior to the knowledge of PSBank of such loss or theft.

You undertake to protect your mobile device / telecommunications equipment from any data failure, corruption, computer viruses and bugs or related defects.

You shall then be solely liable for any loss in connection with breach of the terms and conditions contained herein due to negligent actions or failure to advice the Bank within a reasonable time about any unauthorized access to your Accounts.

AVAILABILITY

The Bank shall use reasonable efforts to ensure that the Service is available 24/7 and shall exert best efforts to execute Instructions such as but not limited to SMS Alerts, Payments and Fund Transfers within the timeframe specified by the Bank. However, we do not guarantee the fulfillment of Instructions / availability of PSB Online banking service by reason of the services being temporarily unavailable due to maintenance; computer, telecommunication, electrical, network failure and/or any other reasons beyond the control of the Bank. We shall not be liable for any loss, damage whether direct or indirect, costs, charges or expenses incurred or to be incurred by Customer due to a delay / inability in providing the Service.

You acknowledge that the receipt of any text / SMS message including but not limited to SMS Alerts may be delayed or disrupted by factor(s) affecting your telecommunications equipment or network facilities provided by your telecoms service provider and other factors outside our control such as but not limited to signal problems, mobile number inactive or inaccessible or cellular equipment malfunction, closed / blocked / dormant mobile service accounts or insufficient mobile airtime credits/balance. The Bank shall not be held liable for any loss, damages any late charges, penalty, loss, damage, expenses, whether direct or indirect, incurred / to be incurred by Customer on account of such non-receipt of SMS messages.

FINANCIAL TRANSACTIONS

Any Instruction received thru PSBank Online shall be irrevocable and the Bank shall not be held liable for any erroneous transaction/s arising from inaccurate information you supplied.

You shall be responsible for keying in the correct account number/s, bill reference numbers or any account identification numbers for any payment, prepaid reload, fund transfer or any other financial instructions, including transactions made via QR Code.

You shall hold the Bank harmless against any claims arising out of mistakes you made in transacting Prepaid Reload including but not limited to (1) mobile number keyed in by mistake; (2) postpaid number selected for reload; (3) selection of expired prepaid mobile number or any other inadvertent / wrong entry.

You shall hold the Bank harmless against any loss, damages any late charges, penalty, loss, damage, expenses, whether direct or indirect, incurred / to be incurred by you and/or the Utilities / Services not being delivered by the Merchant Establishments on account of such non-processing of Instructions due to the inadvertent typing errors / inaccurate information you supplied.

In the event of any payment Instruction declined or any failed prepaid reload transaction for any reason whatsoever, the Bank shall credit back the amount of payment to your Account and shall not be liable for any late charges, penalty, loss, damage, whether direct or indirect, costs, charges or expenses you incurred in this regard.

You further agree that any complaint in connection with unprocessed prepaid reload or declined / unposted payments shall be referred to and addressed by your telecom provider or your merchant establishment/s.

You agree that the Bank may place limits, as it deems fit from time to time, on the number of transactions that you may carry out in a particular period or the aggregate payments and/or fund transfers that the Customer may make during a particular period or any other restrictions as the Bank may, in its sole discretion, place on the Account. You hereby agree to abide by and be bound by all such limits that may be placed by the Bank from time to time.

PASEND INSTANT CASH PADALA

The Service specifically enables PSBank customers to send money to beneficiaries who do not have an existing deposit account/s using the Bank’s “Cardless Withdrawal” facility which is available in both PSBank and Metrobank ATMs.  This service has a transaction limit per day and will require the following information of beneficiary during the creation of request:  Name, Mobile Number, Date of Birth, Birthplace, Address and Purpose of PaSend transaction.  You should acknowledge responsibility to provide true information about the intended beneficiary and ensure that PaSend will be received by such declared beneficiary.  Misuse and abuse of PaSend service may trigger the bank to perform an investigation and suspend service to both sender and beneficiary.

QUICK RESPONSE (QR)

Via the QR Service of PSBank Online and Mobile App, you can generate a QR Code for eligible target accounts to receive funds, or send funds / payments from your account by simply scanning or uploading the QR Code of the beneficiary or payee.

You agree to ensure that the generated QR Code for the target / receiving account is only provided to your intended senders / payers to secure the privacy of your account.

By using the QR Service, you agree to be bound by the terms and conditions governing QR and related financial transactions, e.g. fund transfer and payments, included herein.

You agree that the use of the Service is at your own risk — you shall assume all incidental risks such as risks related to account privacy due to the inter-operability nature of the QR Codes, erroneous payments due to scanning or uploading of wrong QR Codes and other risks arising out of your use of the Service.

PROFILE SETTINGS

You understand that you have full rights to modify any profile information registered for the Service and have the sole option to enroll in subscription-based SMS Alerts. The Bank has the sole discretion to deny at any time certain profile management and subscription rights.

You agree that Instructions such as request to modify your PSBank Online profile information including but not limited to addition / change of e-mail address may also be given by phone to the Bank’s Customer Experience Group.

The Bank will exercise due diligence in verifying your details over the phone, but you understand that you shall be solely responsible and liable for any and all losses that may be suffered / incurred by you as a consequence of inaccurate information or inadvertent error that transpired during the phone conversation. Furthermore, you hereby forever released, waived and forever discharged and quitclaimed PSBank, including its stockholders, its corporate officers, directors, agents, its staff and employees, of and from any and all claims, demands, and/or rights or causes of action whatsoever that may now or hereafter develop as a consequence of inaccurate information or inadvertent error that transpired during the phone conversation.

SMS NOTIFICATIONS

You understand that PSBank Online SMS Alerts is a subscription-based SMS service that enables you to request and receive real-time SMS notifications including but not limited to account balance reporting, debit notifications, mobile check deposit status and debit frequency alerts. SMS alerts are triggered by the specific settings/limits you set prior to activation of the SMS alert service.

By subscribing to PSBank Online SMS Alerts you understand that Alerts is a trigger-based SMS service, and you hereby grant permission to the Bank to send out SMS messages to your mobile phone any time of the day.

You also hold the Bank harmless from any and all liability relating to secrecy laws or regulations, should any Alerts be delivered to your mobile phone which may include your name and information pertaining to your Account(s) be viewed or accessed by persons other than yourself.

You understand that by enrolling and/or activating the services available at the PSBank Online, you hereby agree and grant permission to the Bank to push SMS messages relating to the Service any time of the day. You thereby hold the Bank free and harmless against any and all liability, administrative, civil or criminal, including, but not limited to, those relating SMS spam complaints.

FEES

You understand that your access to PSBank Online banking services will utilize the network facilities and services of your telecom provider and to this extent such access will also be subject to and governed by any terms and conditions prescribed by your telecom provider in separate agreements with you.

You agree that your telecom provider has the sole discretion to charge fees as it may deem fit and you shall be responsible for all fees, charges and expenses which may be imposed by your provider in servicing your telecommunications equipment in connection with the use of PSBank Online banking service.

However, you, at any time, may discontinue or unsubscribe to the services such as but not limited to SMS Alerts, but you shall remain liable for payment of airtime, bill or other charges in connection with availing of the services provided in the PSBank Online which may have been charged by your telecom service provider prior to such disconnection/ un subscription requests.

PSBank shall not be involved in or in any way liable to for any dispute between you and a cellular service provider or any third-party service provider.

Without prejudice to applicable BSP (Bangko Sentral ng Pilipinas) Rules and Regulations, PSBank likewise reserve the right to charge a fee for services availed in the PSBank Online, exclusive of the amount payable to any of your telecom service provider, and at the absolute discretion of PSBank at any time without your prior consent. Proper and timely notice of such changes in charges however shall be made on the PSBank Website and/or other media shall be consistently made prior to effecting any change. Proper and timely notice shall mean the standard 30-day notice prior to the effectivity on changes of terms and conditions of contracts. Such notice shall be deemed accepted by you to be sufficient and proper upon your conformity with this Agreement.

TERMINATION

The Bank may at its sole discretion temporarily suspend or terminate the services in the PSBank Mobile Online either wholly or partially, for whatever reason, without giving any prior notice. The Bank shall not be liable for any loss, damage whether direct or indirect, costs, charges or expenses incurred or to be incurred by you due to a delay / inability in providing the Service.

The Bank may also act upon your request for temporary turn off of any services in PSBank Online. You understand that all financial transactions for future date execution shall be automatically cancelled and all subscription-based Alerts shall be suspended. You shall hold the Bank harmless against any claims, loss, damages, costs, charges or expenses arising out of cancellation and non-execution of future-dated financial transactions and subscription-based Alerts as a consequence of such deactivation request.

DEACTIVATION

You hereby irrevocably authorized the Bank to permanently deactivate your User Account

in case of your failure to activate it for a period of three (3) years from registration, or your failure to maintain any active Account with the Bank. In permanently deactivating your User Account, the Bank shall have the right not to include the same in the Bank’s system or pool of registered online accounts.

OWNERSHIP & LICENSE

You agree that PSBank retains all ownership and proprietary rights in the Services, associated content, technology, and website(s). Your use of the Services is subject to and conditioned upon your complete compliance with this Agreement. Without limiting the effect of the foregoing, any breach of this Agreement immediately terminates your right to use the Services. Without limiting the restriction of the foregoing, you may not use the Services (i) in any anti-competitive manner, (ii) for any purpose that would be contrary to PSBank's business interest, or (iii) to PSBank's actual or potential economic disadvantage in any aspect.  You may not copy, reproduce, distribute or create derivative works from the content and agree not to reverse engineer or reverse compile any of the technology used to provide the Services.

DISCLAIMER OF WARRANTIES AND LIMITATION OF THE BANK’S LIABILITY

Under no circumstances shall We be liable for any loss or damages whatsoever arising out of or in connection with: (i) your use of or access to (or inability to use or access) the Service; or (ii) any failure, error, omission, interruption, defect or delay in transmission of any data relating to the Service, unless it is caused solely by the negligence or willful default on Our part or on the part of Our staff or agents. We shall not be liable to you and/or third party for any modification, non-availability, malfunctioning, suspension or discontinuance of the Service, whether within or outside our control.

GOVERNING LAW

This Agreement shall be governed by the pertinent laws of the Republic of the Philippines as well as all applicable rules and regulations of the Bangko Sentral ng Pilipinas.  PSBank is a financial institution being supervised by the Bangko Sentral ng Pilipinas (BSP), and BSP may be reached with the following points of contact:

BSP contact details: (632) 8708-7087
BSP Webchat:  http://www.bsp.gov.ph
SMS: 21582277 for Globe subscribers only
BSP Facebook: https://www.facebook.com/BangkoSentralngPilipinas/
BSP Consumer Affairs email address:  /[email protected]

LAWFUL USE

You agree that you will not use our Service in an unlawful, fraudulent or abusive manner or for any purpose that is not allowed by this Agreement.

ATTORNEY’S FEES

Should We be compelled to engage the services of Legal Counsel to enforce the terms of this Agreement or when the matter is referred to a collection agent, Client agrees to pay collection and/or attorney's fees equal to the amount sought to be recovered, which in no case be less than PhP5,000 and liquidated damages equal to the amount sought to be recovered aside from actual costs of collection.

VENUE

Any and all actions arising out of this Agreement shall be solely and exclusively filed before the proper court of Makati City, to the exclusion of all other venues.

CORRESPONDENCE

All the required notices and correspondences, including but not limited to demand letters, summons, subpoenas or notifications for any judicial or extra-judicial action, relative to any account of the Depositor, shall be sent to the Depositor in the last known address indicated in the Bank’s records. The mere act of sending any correspondence, by mail or by messenger or by email, or by other electronic means, to said last known address shall be valid and effective notice to Depositor for all legal purposes and the fact that any communication is not actually received by the Depositor or returned unclaimed to the Bank or that no person was found at the address given or the address cannot be located, shall not relieve the Depositor from the effects of such notice.

CONFIRMATION OF ACCOUNTS

Per Bangko Sentral ng Pilipinas (BSP) Circular 871, the Bank has the obligation to confirm by direct verification, at least once a year, the Client’s deposit and loan account balances, and other outstanding balances of borrowings, liabilities, receivables and payables. In order for the Bank to comply with its obligation, the Client hereby agrees to receive via mail or email or other electronic means, at the Bank’s option, any confirmation letter that the Bank shall issue pursuant to the said BSP Circular or any amendments thereto, without need of prior confirmation or instruction from Client.

GENERAL PROVISIONS ON DEPOSITS AND OTHER PRODUCTS AND SERVICES

OPENING OF ACCOUNTS

Deposit accounts, herein referred to as the “Account”, may be opened, subject to the satisfactory compliance with the requirements of the bank, along with the existing regulations and laws on Anti Money Laundering Act and the Bangko Sentral ng Pilipinas rules.

ACCEPTANCE OF DEPOSIT AND OTHER ITEMS

In receiving items for deposit, the Bank obligates itself only as Depositor’s collecting agent, assuming no responsibility beyond due care.  The Bank reserves the right to verify the actual deposit, remittance, and other items for crediting / payment to the Account.

Only the deposits actually received, verified, and system-validated by the Bank shall be credited to the Account, and shall be honored as valid by the Bank.  The Bank shall not be liable for any discrepancy in the amount of deposit verified / system validated against the amount stated in the deposit slip. The crediting of the amount in the Account including the withdrawal thereof is conditioned on the clearing of the items (i.e. check, draft, bills, and other items) and actual receipt by the Bank of cleared funds or proceeds thereof.

The acceptance of check for deposit is subject to the rules and regulations of the PCHC. The Depositor allows the electronic clearing of check and hereby waives the presentation of the original thereof to the drawee bank upon implementation of the Check Image Clearing Systems (CICS).

The Bank may refuse certain items for deposits, such as but not limited to provincial, foreign, second endorsed, post dated, stale (presented after six months from date of issue), spurious, paid, and previously dishonored checks, and other similar items which the Bank may deem appropriate.

The Depositor guarantees all endorsement appearing on the check / item or lack of endorsement thereof, and assumes full responsibility for the correctness, due execution, validity, and genuineness of the checks / items deposited. The Bank is given the authority to charge back or debit any item previously credited and/or hold funds in the Account if:

1. the Bank fails to receive the fund; or
2. the Bank subsequently receives notice and proof that: (a) any item is invalid by reason of forgery or otherwise; (b) the Depositor is not entitled to the proceeds thereof; (c) will subject the Bank to liability by reason of its guarantee of prior endorsement thereon; or
3. for any other justifiable reasons as may be determined by the Bank.

For this purpose, an affidavit or written complaint from the payee, drawer, endorser, or any other party to the instrument attesting to the forgery of any signature or endorsement thereon, or to the alteration of any material part thereof, or to any fact which puts in question the right of the Depositor to the proceeds, may be considered by the Bank as sufficient proof and notice. The foregoing is without prejudice to the right of the Bank to make its own assessment of the sufficiency of proof to deem the hold out and/or debit of the Account appropriate under the circumstances. If any deposit Item is returned or dishonored, it may be claimed from the Bank by the Depositor or his duly authorized representative, or it may be transmitted by the Bank, by messenger or by mail to the Depositor, at his last known address as indicated in the Bank's records.

Article 1250 of the Civil Code of the Philippines shall not apply to all bank deposits and other items or currencies received by the Bank, and the value of currency shall be deemed to be at its value at the time when the deposit was made.

SURVIVORSHIP CLAUSE

The joint Depositors cannot withdraw any portion of the said deposit account without the consent of the other.  However, upon death of any of the Depositors, the whole amount of the funds shall belong to the surviving co-depositor/s, and may forthwith be withdrawn by the latter.  The said provision contained in the agreement is valid and binding between the joint Depositors, but it has an effect of a gift of donation mortis causa made by the deceased co-depositor during his lifetime but effective upon death as stipulated in the AADA.  The acquisition by the survivor of the share of the decedent of the joint account is considered to be acquired by bequest and hence subject to estate tax under Section 84 of the 1997 Tax Code.

INTEREST

Savings and Time Deposit Accounts shall earn interest at such rates determined by the Bank in accordance with the pertinent regulations and guidelines issued by the BSP. To earn interest, the Depositor shall maintain in the account a minimum balance as determined by the Bank from time to time. Such interest shall be computed on a per annum basis and based on the actual daily available balance. No interest shall be paid for accounts which are dormant or closed prior to interest posting. Should a dormant account be reactivated, earning of interest shall commence immediately, on the same day when the account was reactivated. All returned checks shall be excluded from interest computation from date of deposit to date of return. The Depositor shall present the passbook to the Bank to have the interest entered thereon.

The foregoing shall be without prejudice to the right of the Bank to determine from time to time other types of accounts that may no longer bear interest as the Bank may deem appropriate owing to various market forces and regulatory requirements.

Prevailing interest rates are posted through the bank's corporate website and branch's premises.  Interest is subject to change without prior notice and is subject to applicable taxes as provided in the rules and regulations of the BIR.

SERVICE FEES AND OTHER BANK CHARGES

The Depositor is required to maintain the prescribed minimum balance as defined by the Bank from time to time. A monthly service charge shall be collected on the account if the monthly average daily balance (ADB) falls below the required minimum ADB for at least two (2) consecutive months. Dormant account which balance is below the required minimum ADB will be subject to the appropriate charge for falling below the minimum ADB.

The Bank reserves the right to impose new maintaining balance as well as service and maintenance charges within the limits allowed by law or pertinent regulations. The Bank is authorized to automatically deduct such charges from the Account, and the Bank shall not be liable for the resulting of dishonor of checks and other instruments due to insufficient funds.

Service Fees, interest, charges and penalties can change over time.  Notifications shall be sent to the Depositor in the last known address indicated in the Bank’s records or by other electronic means.  The Bank will post any changes through the corporate website, as well as in the bulletin boards of the branches.

OVERDRAFTS AND OBLIGATIONS

Overdrawing is not allowed. If the Bank’s service charge, penalty, or fee shall result in the account being overdrawn then the overdraft shall be treated as loan payable to the Bank, and within twenty four (24) hours, the Depositor shall pay the same plus interest, service fee and other charges as determined by the Bank.

TRANSACTION CUT-OFF TIME

Transactions or cancellations made after the designated cut-off time or on Saturdays and Sundays, and non-banking days shall be considered for the following banking day. However, the Bank shall have the right to reject the transactions made after cut-off time when it deems necessary and without need of prior notice. The Depositor hereby hold the Bank harmless from any claims and liabilities as a result of the rejection of the transactions made after cut-off time.

AUTHORITY TO HOLD / DEBIT / SET OFF

The Bank is hereby authorized, without need of prior notice / demand to the Depositor,  to hold as security for any and all obligations with the Bank, all monies, properties or securities of the Depositor currently now in, or which may hereafter come into the possession or under the control of the Bank in any way, for so much thereof as will be sufficient to pay any or all obligations incurred by the Depositor from the Bank,  or by reason of any other transactions between the same parties now existing or hereafter contracted, to sell in any public or private sale any of such properties or securities of Depositor, and to apply the proceeds to the payment if any Depositor’s obligations heretofore mentioned. The Bank is likewise fully authorized to charge to the Account any and all of his maturing obligations to the Bank, including loans, interest, penalty, charges and without need of prior written notice or demand, other receivables whether or not covered by promissory notes or other credit agreements. For this purpose, the Depositor hereby assigns to the Bank the funds in the Account as security for the payment of any and all obligations which the Depositor may incur from the Bank.

The Bank is also authorized, without need of prior notice to and consent of the Depositor, to hold and/or debit the Account in case of erroneous credit, cancelled remittance, remittance subject of a stop payment request, or fraudulent acts of whatever kind and nature, including but not limited to, misrepresentation, the submission of false, forged, or misleading documents or information, and similar instruction.

In case the Bank receives any information or notice and/or proof of any conflict involving the Account and/or funds on deposit among co-depositors, the Depositor’s authorized signatories, officers, directors, shareholders, and/or other persons claiming rights and interest over the same, the Bank is further authorized, without need or prior notice to the Depositor,  to hold the Account and/or funds until it is satisfied that the conflict is resolved or is in receipt of a court order directing the Bank to release the funds in favor of the Depositor or to any person designated by the court.

In case the Bank receives any notice of garnishment / attachment / levy or freeze order, or asset preservation order, or other similar order / notice from the court / quasi-judicial office / government agency directed against the Depositor’s properties in the possession of the Bank, the Bank is authorized, without need or prior notice to the Depositor, to hold, freeze and/or deliver to the court / quasi-judicial office / government agency or authorized person the funds in the Account and/or property of the Depositor.

The foregoing is without prejudice to the right of the Bank to make its own assessment of the sufficiency of proof to deem the hold out and/or debit of the Account appropriate under the circumstances. The Bank shall not be liable for the dishonor of checks, drafts, notes or other instruments because of the insufficiency of funds as a result of the Bank’s exercise of the foregoing authorities.

AMLA COMPLIANCE

In relation to and/or to enable the Bank to comply with local and international anti-money laundering laws and regulations, the Depositor hereby authorizes the Bank to disclose to local and/or international government entities / authorities and/or regulatory bodies, bank’s subsidiaries and affiliates, and/or its local and/or foreign correspondent banks, information relative to the Depositor and/or his accounts and transactions, which shall include, but not limited to the following information: birthdate, birthplace, employment, profession, business address, contact information, date when account was opened, transaction details, purpose of the transaction, etc. The foregoing includes the authority of the Bank to supply any supporting transactional documents, when required by any of those entities / bodies / authorities.

The Depositor releases and holds the Bank, its directors, officers, employees, representative and/or agent, free and harmless from any liability, suit, action, loss, and/or damage that may arise out of such disclosure.

If engaged in Money Services Business (MSB), the Depositor authorizes the Bank and/or its authorized representative to conduct audit / inspection / examination on the Depositor, at the Depositor’s expense, including but not limited to the Depositor’s business operations, types of customers and customer profile, distribution channel, jurisdictions which the Depositor is exposed to, the Depositor’s Anti-Money Laundering and Combating the Financing of Terrorism (AML / CFT) program and measures, and compliance with all applicable AML / CFT laws, rules, and regulations, and to verify / check if all the information, data and documents, representations, certifications and declarations made and/or provided by the Depositor to the Bank are true, correct, and accurate. This authority applies as well to the audit / inspection / examination on the Depositor as may be required by any applicable AML / CFT laws, rules, and regulations and/or by the relevant agencies / bodies / authorities. The Depositor shall provide the Bank with, and allow the Bank to have access to any and all information, records, and documents, as may be necessary or required by the Bank and/or its authorized representatives in connection with the conduct of the said audit / inspection / examination.  Currencies received by the Bank, and the value of currency shall be deemed to be at its value at the time when the deposit was made.

CLOSING OF ACCOUNTS

The Depositor acknowledges the right of the Bank, which is hereby given the authority, to close the Account, without need of prior notice to the Depositor, in case: (a) the Account is mishandled; (b) the identity / business / pertinent information / documents provided by the Depositor is/are fictitious / false / forged; (c)  the Account is used for illegal activities; (d) the account balance is zero for at least ninety (90) days; (e) when closure is required by law or regulation; or (f) for any reason  when the continuation of the Account is not in the best interest of the Bank, at the sole determination of the Bank.

In the event the Account is closed, the Depositor authorizes the Bank, at its option, to report such closure and the reason(s) thereof to the BSP, AMLC, BAP, or any other relevant agency as required by law, or any central monitoring entity or body established by BAP to keep record of and monitor all mishandled Accounts.

In the event of such closure, the Bank shall issue a Manager’s Check for the remaining balance of the Account. The Bank shall send notice to the Depositor after such closure. However, the Bank shall be entitled and is authorized to hold the release of the funds unless and until the Depositor has submitted valid, legal, and acceptable documents proving that the Depositor is entitled to the funds.

The Depositor agrees to hold the Bank and its officers and employees free and harmless from any and all liabilities, claims and demands of whatever kind or nature in connection with or arising from (a) the closing of the Account and/or (b) if a current account, the dishonor of any check there under which may be presented to the Bank after the closing thereof, and/or (c) such reporting by the Bank of the closing of the Account and the reason(s) thereof.

LIMITATIONS ON LIABILITY

The Bank shall not be liable for any loss or damage that may be incurred by the Depositor or any third party for any failure to perform its obligations due to acts of God (i.e. flood, earthquake, fire, or other natural disasters), war, invasion, acts of foreign enemies, hostilities (whether or not war is declared), civil disturbance, rebellion, terrorist activities, government sanction, labor dispute, strike, lock out, electrical or telephone or utility service interruption or failure, or any event beyond the control of the Bank.

The Bank, without negligence on its part, shall not be liable for any failure to provide any service or perform its obligations due to technical error or system failure, or failure of any computer, machine, data processing system, computer program deficiencies, or other equipment defects. The Bank reserves the right to reverse the effects of any erroneous transactions brought about by any system-related errors herein, without need of prior notice.

The Bank shall not be liable for failure to notify the Depositor of freezing, garnishment, attachment, or levy of the Account.

The Depositor shall indemnify and hold harmless the Bank, its directors, officers, employees, and agents free and harmless from any claim, damage, liability, or suit which may be incurred or suffered in connection with the implementation of the transactions done pursuant to the instruction of the Depositor on the Account.

UPDATING OF INFORMATION

It shall be the responsibility of the Depositor to update all information and records pertaining to him and his Account with the Bank and to submit documents in support thereof. The failure of the Depositor to update the information/records shall be deemed as the depositor’s confirmation that all the information, documents, and records relative to him and the Account which the Bank maintains continues to be current, valid, and effective, and that the Bank has the right to rely thereon, until the Bank receives the required update and supporting documents to the satisfaction of the Bank.

TELEGRAPHIC TRANSFER / MAIL TRANSFER / DRAFTS / OTHER MONEY TRANSFERS

It is distinctly understood that the issuing, remitting Branch, Bank shall assume no responsibility whatsoever for delay in the execution of this payment resulting from errors and, or delays in the transmission of the Bank's relative instruction to its paying branch, office or correspondent, or any other cause(s) beyond its control.

RIGHT TO OUTSOURCE AND ENGAGE THIRD PARTY

In providing its products, services, facilities, the Depositor recognizes the right of the Bank to engage the services of service providers and third parties as the Bank may deem necessary or appropriate in order to perform its rights and obligations herein.

DEPOSIT INSURANCE

Deposits are insured with the PDIC up to a maximum amount of PESOS: FIVE HUNDRED THOUSAND (PhP500,000.00) per depositor.

This deposit insurance coverage, payment of insured deposits, as well as any other matter relating to said deposit insurance are subject to Republic Act No. 3591, as amended and the implementing rules and regulations issued by PDIC.

CUSTOMER COMPLAINTS

The Depositor shall communicate with the Bank regarding any complaint / concern on his Account through the use of the following points of contact:

Email: [email protected]
Customer experience hotline (632) 8845-8888
Live Chat through the Bank’s website at psbank.com.ph, and official Facebook account

The Bank shall conduct an investigation in accordance with its established procedures and shall notify the Depositor if its findings, which shall be considered as final and conclusive.

CONSENT TO THE TERMS AND CONDITIONS

By opening the Account,  and in availing / using the product/s, facility/ies, and service/s, including but not limited to electronic / mobile / internet banking services and other related channels, of the Bank, the Depositor agrees to be bound by the operational rules and regulations, policies, terms and conditions governing the said product/s, facility/ies, and service/s, including any amendment or supplement thereon, as well as the functionalities and features of the product / facility/ies and services  and the required fees associated therewith. The Depositor further agrees and accepts to be bound by the data privacy and security policies of the Bank, and to pay any fees associated with the use of the said product/s, facility/ies, and service/s. the Depositor further affirms and accepts the features, requirements, risks, and benefits in availing the product/s, facility/ies, and service/s as fully disclosed and explained by the Bank.

In granting the above authorities, the Depositor hereby waives his or her right to data privacy and confidentiality and such other rights as may be provided under Republic Act (R.A.) No. 1405 (Law on Secrecy of Bank Deposits),R.A. No. 6426 (Foreign Currency Deposit Act of the Philippines), R.A. No. 8791 (General Banking Law of 2000), R.A. No. 10173 (Data Privacy Act of 2012), and all other applicable rules and regulations issued by the Bangko Sentral ng Pilipinas and other regulatory bodies that uphold data privacy and confidentiality, which may be in conflict with the Bank’s obligation in carrying out said authorities.

The Depositor is aware that the data subject rights available to him or her are listed on PSBank’s Privacy Policy Statement available on https://www.psbank.com.ph/ and that the above consent and authorization shall remain valid and subsisting unless otherwise revoked or cancelled.

AMENDMENTS

The Bank reserves the right to change, amend, modify, or supplement from time to time, any of the terms and conditions herein provided, and such changes shall be effective immediately upon posting thereof. Said changes or supplements, if posted in the Bank's website (www.psbank.com.ph) or conspicuous place inside the premises of the Bank shall constitute sufficient notice to the Depositor.  By accessing or using the PSBank Mobile Service after any changes have been made, you signify your agreement on a prospective basis to the modified Terms and Conditions and all the changes thereafter.  Be sure to turn to this page periodically to ensure familiarity with most current version of the Agreement.

Should the Depositor not agree with the amendment / modification / supplement of the Agreement, he may terminate the Agreement and close the Account, provided prior notice is given to the Bank at least thirty (30) days prior to such termination / closure, otherwise, the amendment / modification / supplement shall be binding to him.

In all cases, not specifically provided in these Terms and Conditions, or otherwise by written agreement between the Bank and Depositor, or in case not covered by laws, the rules and regulations of BSP, AMLC, and other related regulatory agencies, the usual customs and procedures common to Philippine banks shall govern the transactions between the Bank and Depositor.

COMMON PROVISIONS FOR ATM / PREPAID / DEBIT CARD ACCOUNT

The Depositor acknowledges that the card is not transferable and is the property of the Bank. The Depositor shall return the card upon demand to the Bank for cancellation in case the Depositor no longer maintains the deposit covered by the card or said Account has been closed or if the card is withdrawn by the Bank for any reason whatsoever. It is agreed and understood that the Bank has absolute discretion to withdraw the card and its services upon notice to the Depositor.

The Depositor also agrees that the Bank may cause the ATM to retain the card automatically at any time and without notice to the Depositor.

For his protection, the Depositor shall, never disclose to any person his Personal Identification Number (PIN). The Depositor shall in all circumstances assume full responsibility for all transactions processed by the use of the card whether or not processed with the Depositor's knowledge or by his authority. All deposits are subject to verification. Only the amount actually verified / counted will be credited to the Account.

The Bank shall inform the Depositor of any discrepancy noted during the verification and actual piece-count against the deposit slip) within seventy-two (72) hours from the date the deposit was made.

The Depositor agrees that the transaction record issued automatically by the ATM at the time the deposit transaction was made presents what the depositor purports to have deposited and shall not be binding on the Bank.

The Bank shall impose a limit to the amount that can be withdrawn notwithstanding the sufficiency of the balance of the Depositor.

In case the card is lost or stolen, the Depositor shall notify the Bank immediately upon knowledge of such incident, and the bank shall confirm such notification, through any means available. The Bank shall not be responsible for any unauthorized transaction against an ATM account until after it has received the notice and has sent the notification

The Bank shall replace a card damaged for whatever reason, at no cost to the cardholder, provided that the damaged card has its full original value and has not been used by the cardholder for any transaction. In the event that the damaged card has less than its original value and/or has been used by the cardholder for any transaction, PSBank shall issue a replacement card with value equal to the remaining balance of the damaged card, subject to cardholder's payment of service fees.

The Bank shall not be liable for failure of the Depositor to transact or withdraw funds through the ATM when the Bank is under off-line conditions, during servicing time of the machine or when machine and communication line breakdown occurs or other conditions not within the control of the Bank.

The Bank shall not be liable to the cardholder for any loss suffered as a result of the Bank being prevented from or delayed in providing any banking or other services to the cardholder due to strikes, Industrial action, power failure, systems or equipment or any other causes beyond the Bank's control.

The cardholder agrees to hold the Bank and its officers and employees free and harmless from any and all liabilities, claims and demands of whatever kind and nature in connection with or arising from a) use of card in Inter Bank Fund Transfer Facility (IBFT); b) closing/ termination of the card; c) the reporting by the Bank of the closing of the card and the reason/s thereof to the BAP or to any central monitoring entity or body established by the BAP to keep record of and monitor all mishandles cards.

The card belongs to the Bank and the Bank or any of its authorized officers, employees, associate or agent may retain the card, require the cardholder to return the card or suspend or cancel the use of the card at any time in its absolute discretion. The Bank shall not be held liable for any loss or damages suffered by the cardholder as a result thereof.

The card will not become valid or operational until the cardholder acknowledges receipt of the card and the related PIN and by signing the appropriate Bank documents. For ATM card issued without a PIN mailer, cardholder may utilize the Manage ATM Card module in PSBank Mobile and Online banking to activate card, nominate and change PIN.  The card is only valid up to the last day of the month / year indicated on the face of the card. The card must not be used outside of that period or if the Bank has required by notice in writing to the cardholder to the cardholder that it should be returned to the Bank. When the period of validity expires, the card must be destroyed immediately by the cardholder by cutting it in half through the magnetic strip.

The cardholder must take all reasonable precautions to prevent unauthorized use of the card.

The Bank will issue a card only when the cardholder has completed an application form and it has been accepted by the Bank. The cardholder is only authorized to enter into a transaction if the amount is less than or is equivalent to the balance of the card.

Generally, transactions cannot be cancelled by the Cardholder after it has been completed. If the Cardholder wishes to cancel the completed transaction, a request for a charge back shall be requested to the merchant. A credit to the client's prepaid account will be initiated by the bank upon the instruction of the merchant as long as the Bank will not be liable for any loss or damages resulting from such instruction for refund.

Transactions made in any of Mastercard's accredited merchants, in a currency other than the PHILIPPINE PESO, shall be converted to the amount equivalent to the local currency based on the prevailing exchange rate on the day the Instruction to convert was received.

The card shall not be used as payment for any illegal purchases, or for any unlawful purposes. The Cardholder authorizes the bank to discontinue the card even without prior notice in any of the following cases: mishandling/misuse of card, fictitious identity, and illegal activities or in any other event when the continuation of the card is not in the best interest of the Bank, at the sole determination of the Bank.

The Cardholder shall sign the card immediately upon receipt thereof and agrees to safeguard the card as if it were cash. PSBank may, at its option, assign a system-generated personal identification number (PIN) to a card to enable the cardholder to withdraw cash or do balance inquiries via ATM. It is also advised that the cardholder immediately change this initial PIN and nominate his own set of numbers. It is also advised that the PIN be committed to memory and that the piece of paper containing the PIN be shredded for confidentiality purpose

Unless earlier terminated by the Bank, voluntarily cancelled or returned by the cardholder, the card shall be valid from the day of issuance or renewal, and expires on the last day of the month initiated on the face of the card. The cardholder may request the renewal of the card subject through (i) Customer Service, subject to Positive Identification (PID), (ii) Corporate Website, (iii) any PSBank Branch. Request for renewal shall be subject to PSBank's requirements at the time of filling of the request and approval thereof shall be the sole discretion of the Bank.

Issuance and Usage

1. The issue and use of the Debit Card shall be subject to Bangko Sentral ng Pilipinas' regulations on debit card issuance as also PSBank's Terms and Conditions, in force from time to time.
2. The Debit Card and the related PIN will be issued in the name of the cardholder who will be responsible in keeping the card and the PIN under his/her custody.
3. The cardholder shall be responsible for all transactions effected by the use of the Debit Card, whether or not the transaction were/are authorized by the cardholder, and shall indemnify the bank for the loss or damage caused by any and all unauthorized use of the Debit Card or related PIN including any penal action arising on account of violation of any BSP guidelines or the Anti Money Laundering Act or any other laws, rules and regulations for the time being in force.
4. In case of Joint OR accounts, all account holders, jointly or severally, shall indemnify the Bank, as above, against all actions, losses, claims and consequences arising out of the usage of the Debit Card, the safety of the PIN and the transaction/s effecting using the Debit Card. In case such JOINT OR Accounts, all account holders shall be deemed to be jointly or severally responsible and liable for all duties and liabilities cast upon the cardholder. The account shall be debited, with the amount of any withdrawal, transfer, and/or any other transactions effected by the use of the Debit card. The cardholder shall maintain sufficient funds in the account to meet any transactions. The cardholder shall not be entitled to over-withdraw from the account, with the Bank or withdraw funds by use of the card in excess of the overdraft limit, if any, agreed with the Bank.

Card Facilities

1. An individual may apply for as many deposit accounts as he could with each account linked to a Debit card. Corporate accounts can apply for a Debit Card for their employees' payroll account. Payroll accounts shall be supported by Memorandum of Agreement signed by the authorized representatives of the corporation and the Bank.
2. The cardholder may use the card to pay for goods or services at retailers or suppliers worldwide who accept the card by encoding the PIN or signing a sales voucher or by entering the card information on the Internet. The Bank will debit from the card's balance the amount of any such transaction authorized in such way.
3. The cardholder may use the card in conjunction with the PIN to withdraw money from the automated teller machines (ATM) authorized to accept the card. The amount of money withdrawn by the cardholder shall be debited from the card's balance.
4. Telephone and mail order purchases, which require the cardholder to quote the number printed on the card and fill out forms showing the number printed on the card, respectively, are not allowed.
5. As the Debit Card is linked to a deposit account, the funds in the deposit account are subject to the rules and terms and conditions for deposits stated in herein, and is insured by the Philippine Deposit Insurance Corporation (PDIC) up to PhP500,000.00. Cash withdrawals may be done via PSBank's and other banks' ATM. The card may be used for POS purchases in BancNet, and Mastercard affiliated merchants and establishments requiring either the cardholder's signature or PIN encoding.
6. The card is subject to dormancy as applicable to the linked deposit account.

PSBANK PREPAID CARD

The Card

PSBank Prepaid Card is affiliated with MasterCard and is a member of BancNet which may be purchased for personal use or as a beneficiary account to a remittance or for any legal reason it may serve.

The PSBank Prepaid Mastercard Cardholder understands that there is no "Joint" account / names in the application of the PSBank Prepaid Mastercard, and cannot avail of two (2) or more PSBank Prepaid Mastercard at anytime.

Card Value

The Cardholder determines the value of the card by exchanging an amount of not more than PhP100,000.00 / month, with a maximum load of PhP500,000.00. Only cash or its equivalent (e.g. fund transfer from a deposit account) shall be accepted. No checks shall be accepted.  Prepaid Card is NOT a deposit account and the value stored is not insured in PDIC.

Card Reload

The card can be re-loaded with additional value, provided that it will not exceed PhP100,000.00 per month and shall not exceed the maximum limit of PhP500,000.00 at any given time.  Re-loading of card can be done via:

1. Over-the Counter cash deposit at any PSBank Branches
2. Fund Transfer using PSBank Mobile and Online Banking from an existing deposit account
3. Interbank Fund Transfer from other banks

Proof and Record of Transactions

1. Each successful banking transaction shall be evidenced by a system generated reference number and may be used by the Bank as basis in investigating any complaint by the Customer. A system-generated notification which contains a list of all successful or failed transactions shall also be sent to the Customer's registered e-mail address or mobile number after the transaction.
2. Statement of Account (SOA) for the past two (2) months of the Customer's enrolled deposit or loan account or the Transaction History of the PSBank Prepaid Mastercard may be downloaded and printed via PSBO.
3. The Customer may also make an online request for a copy of the Bank Statement dating more than two (2) months back. For this purpose, the Customer hereby authorizes the Bank to transmit the Bank Statement to the Customer's enrolled e-mail address if such was the mode, otherwise, Statement requests may be mailed, or delivered to the last known address of the Customer, or shall be sent via SMS, or for branch pick-up, as the case may be. The Bank reserves the right to reject the printing of the Bank Statement for a Customer whose deposit account status is disqualified for printing, or for any other reason as may be determined by the Bank.
4. The Customer understands that the Bank shall not automatically release the monthly transaction history of his/her PSBank Prepaid Mastercard but shall be available via the applicable Bank's e-banking services.
5. The Customer agrees that if the Bank does not receive any complaint within twenty (20) calendar days from statement cut-off date, the said Statement and all transactions therein shall be considered correct and any claims against the Bank shall be waived.
6. The Bank's record of the transactions processed by the use of the Bank's service, facilities, and channels shall be conclusive proof of the nature and circumstances surrounding the transactions, as well as of the Instructions received and shall be binding for all purposes.

Promotions

The Customer hereby authorizes the Bank and its partners to offer promotions in writing, or through the electronic banking channels of the Bank.

COOLING-OFF PERIOD

A cooling-off period of two (2) banking days is granted from the date of account opening. During the cooling-off period, the Account Holder may cancel or terminate the account without penalties, by submitting a written notice to the Bank. The Bank, however, reserves the right to deduct the documentary stamp and other taxes due thereon, if any, and collect reasonable processing, closure / pre-termination, and administrative fees when applicable, to cover the costs incurred during account opening.  The cooling-off period is available for financial consumers who are individuals, or micro and small enterprises as defined in applicable DTI regulations.

Get more information on the following services:

PSBank QR

PayPal Fund Transfer Services

InstaPay and PESONet

For more information:

• Chat with us through PSBank LiveChat, para lahat ng tanong mo may sagot ora mismo!
• Contact  our Customer Experience Hotline at (632) 8845-8888.
• Visit any PSBank branch near you!