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BPI #SaveUp Account Terms and Conditions


I. Definition of Terms


The terms “BANK”, “we” or “our” shall refer to the Bank of the Philippine Islands (BPI); the terms “CLIENT”, “you”, “your” or “I” refers to the person opening and maintaining the BPI #SaveUp Account/s with the BANK; and the term “ACCOUNT” shall refer to one or all BPI #SaveUp Accounts opened or maintained by the CLIENT with the BANK in accordance with these Terms and Conditions.  


II. Applicability of/Conformity to Terms and Conditions, Rules and Regulations


You agree that your ACCOUNT shall be subject to: the Terms and Conditions governing the BANK’s Products, Services, Facilities and Channels; the BPI Debit Mastercard Terms and Conditions; the BANK’s Online Banking Terms and Conditions ; in cases where you nominate the ACCOUNT as your payroll account, the Payroll Terms and Conditions; and the BPI Data Privacy Statement, as the same may be amended or supplemented from time to time, all of which are made integral parts of these Terms and Conditions and deemed incorporated herein by reference and shall be resorted to where applicable.

                                                       

You likewise agree to be bound by the BANK’s prevailing policies, procedures, and practices as well as applicable laws and regulations, including, but not limited to, all circulars, guidelines, rules and regulations of the Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corporation (PDIC), Anti-Money Laundering Council (AMLC) and such other regulatory bodies on, among others, deposit accounts, which  shall form part of and shall be deemed incorporated by reference into these Terms and Conditions. You also agree that the ACCOUNT and such other products, services, facilities and channels shall likewise be governed by all applicable circulars, guidelines, rules and regulations of the BSP, PDIC, AMLC and such other relevant government regulatory bodies or agencies.


III. Account Opening and Maintenance


A. Account Opening and Access to Online Banking


Application for opening of the ACCOUNT may be done by downloading or accessing the BPI Mobile App. By accessing the BPI Mobile App, you will be able to electronically open the ACCOUNT and authorize the process for transmission of data, information and communication through the internet. Your use of the BPI Mobile App is subject to the BANK’s Online Banking Terms and Conditions.


Once you have downloaded or accessed the BPI Mobile App, you may proceed to apply for account opening by providing to the BANK the necessary information and documents requested electronically, and performing the actions required. The BANK, at its sole discretion, reserves the right to validate the information and documents provided through the BPI Mobile App. Once your information and submitted documents shall have been validated, your ACCOUNT will then be approved for opening in real time, and you will be allowed to perform various online banking services through the BPI Mobile App.


B. Eligibility


To open an ACCOUNT, you must be at least eighteen (18) years of age, a resident of the Philippines, and have at least one (1) valid Philippine government-issued ID1, a valid local Philippine mobile number, and a valid e-mail address. BPI #SaveUp is limited to individual accounts2, and is not available for customers whoare FATCA reportable. Such customers are requested to visit branches of the Bank and to comply with the regular requirements for account opening.


C. Documentary Requirements


The ACCOUNT may be opened and maintained at the sole discretion of the BANK, upon your compliance with all the account opening/maintenance requirements as may be imposed by the BANK from time to time such as, but not limited to: (i) Electronic Know-Your-Customer ("E-KYC") requirements; (ii) submission of duly completed account opening forms bearing an electronic signature, as well as other supporting documents transmitted to the Bank in an electronic format using the electronic platform deemed appropriate by and acceptable to the BANK; and (iii) delivery of the applicable initial deposit amount within the prescribed period.3


You hereby agree and consent that the BANK and its authorized representatives may collect: your personal information, including your name, date of birth, gender, address, and contact number; a copy of your government-issued ID; and your photograph, for E-KYC authentication.


You agree that upon disapproval of your application, the BANK shall have the right and is authorized to retain all information you provided including the documents submitted in relation to the processing and evaluation of your application.


You likewise recognize the right and authority of the BANK to close the ACCOUNT without need of further notice or demand in case you fail to deposit the applicable initial deposit amount within the prescribed period.


The BANK is authorized to close the ACCOUNT at anytime without prior notice and without liability in case (i) you provide false information or made a misrepresentation to the BANK; (ii) you submit false, forged or misleading documents or information; (iii) the ACCOUNT is involved or used or suspected to be involved or used for any fraudulent, illegal, criminal or unlawful activities; or (iv) the BANK, at its sole option and discretion, has determined that maintaining the ACCOUNT is not in its best interest.


D. Onboarding and Use of Online Banking Services


If you satisfactorily pass the BANK’s E-KYC and verification process, your ACCOUNT will be opened in real time. You will receive a notification that your ACCOUNT has been successfully opened and will be provided with your ACCOUNT details. You will likewise receive a welcome e-mail in your nominated e-mail address.


Once your ACCOUNT is opened, you will be allowed to perform various online banking services through the BPI Mobile App. The instructions made after the opening of your ACCOUNT shall be the authority of the BANK to carry out the banking transactions performed by you through the BPI Mobile App. The BANK shall have no obligation to verify the authenticity of any transaction received from you through, or purporting to have been made by you via, the BPI Mobile App, other than by means of verifying your mobile number through the One-Time Pin (“OTP”) sent, your user ID and password, or though biometric authentication methods such as but not limited to fingerprint scanning or facial recognition.


E. Credits to and Debits from the Account 


Once the ACCOUNT is opened, the BANK may accept your deposits in cash through Cash Accept Machines (CAMs). The BANK may likewise accept credits to and/or debits from the ACCOUNT (i.e., payroll accounts, remittances, or fund transfers). Should you nominate your account as a payroll account, you agree to abide by and comply with the Payroll Terms and Conditions4.


In case of credits and/or payments to your ACCOUNT, you represent that you are entitled to receive such credits and/or payments from the payor. In case of debits and/or payments from your ACCOUNT, you represent that you have authorized such debits and/or payments to the payee.



The BANK is hereby authorized to effect any adjustments on what has been credited to and/or debited from the ACCOUNT to, among others, correct any error or mistake committed, without need for any further instrument, deed, notice, consent or your authorization. Should the ACCOUNT balance be insufficient to allow debit of such amount in order to correct said error or mistake, you hereby irrevocably authorize the BANK to debit the said amount plus interest and charges, if any, from the time the amount becomes due to the BANK, from any other account in your name, whether singly or jointly held with others, or whether maintained with the BANK or with any of its subsidiaries or affiliates.


F. Minimum and Maximum Account Balance; Fees and Charges


To open the ACCOUNT, a minimum deposit, as determined by the BANK, shall be required. You shall likewise maintain your ACCOUNT balance at the agreed monthly average daily balance (ADB), computed as follows:


ADB = (Day 1 ending balance + Day 2 ending balance …+ Day 30/31 ending balance)

(Number of days in the month i.e. 30/31 days)



Your ACCOUNT balance shall not exceed the maximum amount set by the BANK, at any given time. Should any transaction (deposit, fund transfer, payroll credit, etc.) result in the breach of this threshold, such transaction shall be rejected, without need of notice to you.


The BANK may impose and collect service charges and/or maintenance fees on your ACCOUNT, whether active or dormant, should your balance fall below the required minimum monthly ADB, subject to legal and regulatory limits. Should there be no financial activity in your ACCOUNT for two (2) consecutive years (“Dormant Account”), such ACCOUNT shall be subject to a dormancy fee until the same is reactivated through a deposit or withdrawal of funds.


An ACCOUNT with deposit balances falling below the prescribed minimum maintaining balance may be closed by the BANK with notice.


You acknowledge that you are at all times aware of the required minimum or maximum  balance (as may be applicable), service charges, maintenance fees, dormancy fees and penalties applicable to the ACCOUNT, as well as any amendments, revisions or modification thereto, which fees, charges and penalties are available to you upon request or through various channels of the BANK or are published, displayed, advertised, posted in the ATM on-screen messages, or in the BANK’s website or mobile application, whichever is applicable, all of which are made integral parts hereof.


The BANK may, from time to time, revise and/or change the applicable fees, charges, penalties including increases in the required minimum or maximum balance (as may be applicable) for the ACCOUNT. Notices of any change or revision will be provided to you through your electronic Statements of Account, through the BANK channels, publication, display or advertisement, posting in the ATM on-screen messages and/or through posting in the BANK’s website or mobile application, or by electronic mail, or such other electronic transmission including short messaging service or by such other means of communication which the Bank, at its option, considers appropriate and effective, and shall be deemed sufficient notice to you. Such revisions and/or changes shall be effective on the date specified by the BANK. Your continued usage of the ACCOUNT after the effective date of such revision and/or change shall be deemed to constitute your acceptance of the changes and/or revisions without reservation.


E-Statements of Accounts showing the transactions and balances in relation to your ACCOUNT, including interest earned and fees charged, shall be provided to you monthly by the BANK. You agree that if the BANK does not receive any complaint from you within twenty (20) calendar days from transaction date, any and all transactions as well as the transaction details therein shall be considered correct and accurate and any claim against the BANK shall be deemed waived.


G. Interest on Account


Interest on your ACCOUNT will be calculated based on your ACCOUNT’s daily balance (net of applicable taxes) provided that your ACCOUNT’s balance does not fall below the minimum balance required to earn interest. Interest earned shall be credited to the ACCOUNT, at rates determined by the BANK. Interest Rates may be revised from time to time, and such revision shall take effect immediately after notice. Notices shall be provided to you through your electronic Statements of Account, through the BANK channels, publication, display or advertisement, posting in the ATM on-screen messages and/or through posting in the BANK’s website or mobile application, or by electronic mail, facsimile transmission or such other electronic transmission including short messaging service or by such other means of communication which the BANK, at its option, considers appropriate and effective, and shall be deemed sufficient notice to you. Your continued access and/or usage of the ACCOUNT after the effective date of such revision shall be deemed to constitute your acceptance of the revisions without reservation.


IV. Channels for the Account and for the Bank's Other Products, Services, and Facilities


You may access your ACCOUNT, and the BANK’s products, services, and facilities, through the different channels as set forth below. To access the ACCOUNT and such other BANK products, services, or facilities, Access Data and/or Access Number as specified below are required. For the ATM and POS channel, a Debit Card, available upon request, which may entail a fee, shall be necessary.


ChannelAccess Data / Number
Automated Teller Machine (ATM)Personal Identification Number (PIN)
Point of Sale (POS) using  a Debit CardPersonal Identification Number (PIN)
Point of Sale (POS) Contactless Payment using a Debit CardNo PIN or signature is required (Applicable for transactions with less than Php 2,000.00)
eCommerce or Online Transactions using a Debit CardEntry of Debit Card details. A one-time-PIN (OTP) may be sent to authorize the transaction.
InternetUser ID & Password 
Mobile PhoneUser ID & Password 


Given the nature of this ACCOUNT, over-the-counter transactions are subject to the policies set by the BANK. Should you transact in any of the BANK’s branches, you shall be subject to further KYC requirements, in the same manner as those applicable to regular accounts.


A. Use and Security of the Debit Card, Access Data, and Access Number


Instructions on how to utilize the service and access the various channels shall be provided in the BANK’s website as well as in the Debit Card carrier, should you avail of a Debit Card. You may generally access your ACCOUNT seven (7) days a week, twenty-four (24) hours a day, with the use of the relevant channel’s Debit Card, Access Data, or Access Number.


You may avail of a Debit Card by applying for the issuance of the same through any BPI branch or through other channels as the BANK may specify5, subject to applicable fees. You may use your Debit Card to access your ACCOUNT through the BANK’s or its affiliated ATMs or POS terminals/networks/online payment gateways and effect such permitted transactions in relation therewith. You agree to sign the Debit Card promptly upon receipt thereof and to keep the Debit Card secure at all times.


You acknowledge that withdrawals/purchases/inquiries/e-commerce and online transactions on your ACCOUNT through ATMs or POS terminals/networks/online payment gateways shall be subject to BPI Debit Mastercard Terms and Conditions.


For Online Banking, you agree that you will properly log out from your ACCOUNT at the end of each session. Failure to do so shall render you liable for any loss or damages incurred resulting from such act or omission.


Your Debit Card, Access Data, and Access Number are for your exclusive use. They are non-transferable and cannot be lent for the temporary use of another person nor can the same be pledged as security in any manner whatsoever.


You agree to assume full responsibility for maintaining the confidentiality of your Access Data and Access Number and for all transactions made in your ACCOUNT through the use of your Access Data or Access Number. The Access Data or Access Number is known only to you and as such, any transaction effected using your Access Data or Access Number is conclusively presumed to have been performed by you or are authorized solely by you.


You agree and undertake to immediately contact the BANK’s 24-hour BPI Contact Center to report the loss or theft of your Debit Card or any unauthorized use of your Debit Card, Access Data, or Access Number or any other breach of security immediately upon such occurrence or knowledge thereof. Any loss due to withdrawal/purchase/transfer of funds using any lost/stolen Debit Card, Access Data, or Access Number  prior to the receipt by the BANK of your written report of loss or unauthorized use shall be for your account.


B. Online Banking


Upon the opening of your ACCOUNT, you agree that it shall be automatically enrolled in and given the functionalities of Online Banking. You agree that your ACCOUNT may likewise be automatically enrolled in other services and facilities which are available or are provided by the BANK from time to time. The BANK, however, reserves the right, at its sole discretion, and is authorized to require or cause your 5enrolment in select products, services, and facilities as it may deem fit and appropriate.


C. Mobile Banking


Upon the loss of your SIM card and/or change of mobile number, you agree and undertake to immediately inform the BANK through its 24-hour BPI Contact Center. Any loss or damage occasioned by the purchase/transfer of funds using your SIM Card or enrolled mobile number, prior to receipt by the Bank of your written report of such loss or change, shall be for your account.


You acknowledge that the Bank may at anytime without prior notice suspend or terminate your use of mobile banking and/or related services offered for whatever reason(s) which, in the sole opinion of the Bank, would prejudice its interest or yours.


You agree and undertake not to share the SIM card and MPIN to anyone. Any transaction effected using your SIM card and MPIN shall be conclusively presumed to have been made or authorized by you.


V. Cards


A. Debit Cards


You may request that you be issued a Debit Card, a payment and withdrawal card that will allow you to access your ACCOUNT through POS terminals, eCommerce and ATMs.


To prevent unauthorized persons from using your Debit Card, you cannot use it until it is activated. You may activate your Debit Card through BPI ATMs, when you set your card PIN. You agree that all withdrawals using your Debit Card shall be conclusively presumed to have been personally made or authorized by you.


The Debit Card shall be accepted at ATMs of the BANK and other financial institutions, POS, and online payment gateways affiliated with BancNet, Mastercard, or such other networks as may be designated by the BANK from time to time.


For your own protection, the BANK shall conduct authentication procedures before proceeding with any transaction using your Debit Card:


1. ATM. Withdrawals or inquiries on your ACCOUNT through any ATM may only be made using your Debit Card and your correct PIN;


2. POS. Purchases or payments made byinserting the Debit Card in the POS, regardless of amount, shall require your Debit Card together with your correct PIN or valid signature, depending on the acquiring institution’s discretion.


3. E-commerce or Online Transactions. The BANK may send an OTP or request additional information, before proceeding with any e-commerce or online transaction. Your act of providing the OTP and/or the requested information shall be evidence that you have made correct, complete, irrevocable and binding instructions to the BANK to debit your Debit Card with the corresponding amount of the transaction and to transmit the payment to the relevant merchant.


Your use of the Debit Card shall be subject to the BPI Debit Mastercard Terms and Conditions.


B. Virtual Prepaid Card


Your ACCOUNT may be bundled with a Virtual Prepaid Card that will allow you to transact on e-commerce websites and mobile applications. The BANK shall implement a secure payment process for your protection.


The Virtual Prepaid Card with validity period as may be specified by the BANK6 may be accepted at online e-commerce websites affiliated with Mastercard, or such other networks as may be designated by the BANK from time to time.


You can load the Virtual Prepaid Card through any of the BANK’s electronic channels with up to PHILIPPINE PESOS: ONE HUNDRED THOUSAND (Php100,000) per day but in no event shall the card’s aggregate load exceed PHILIPPINE PESOS: FIVE HUNDRED THOUSAND (Php 500,000) per month, which limits may be amended from time to time. Any amount loaded into your Virtual Prepaid Card shall be debited from your ACCOUNT, and shall no longer be considered for purposes of computing your minimum or maximum account balance. You shall be allowed to request for a refund of the card load value of your Virtual Prepaid Card at any time, subject to payment of applicable fees and charges.  


For your own protection, the BANK shall conduct authentication procedures, such as sending a One-Time-Pin (“OTP”) or request for additional information, before proceeding with any e-commerce or online transaction. Your act of providing the OTP and/or the requested information shall be conclusive evidence that you have made correct, complete, irrevocable and binding instructions to the BANK to debit your Virtual Prepaid Card with the corresponding amount of the transaction and to transmit the payment to the relevant merchant.


Your use of the Virtual Prepaid Card shall be subject to the BANK’s Prepaid Card Terms and Conditions.


VI. Account Transactions


A. Fund Transfers


You may transfer funds from your ACCOUNT to your other accounts or to third party accounts within the BANK or to other local banks. The BANK shall effect such mobile fund transfer transactions provided that: (i) the ACCOUNT is sufficiently funded; (ii) you supply complete and correct information; and (iii) the transaction is within the allowable limits set by you or the BANK.


The BANK shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond the control of the BANK. The BANK shall likewise not be liable for failed or incorrect transactions resulting from an error in the information you provided.


B. Deposits


Once opened, the BANK shall accept deposits to your ACCOUNT, either in cash or check, as well as fund transfers from third-party bank accounts.


You agree that your ACCOUNT balance shall not exceed the maximum amount set by the BANK, at any given time. Should any deposit or fund transfer transaction result in the breach of such threshold, the transaction shall be automatically rejected, without need of notice to you.


C. Bills Payment


The ACCOUNT allows you to pay your bills via online or Mobile Banking. The BANK shall implement your payment instructions through an authorized payment network or via direct merchant/biller arrangement.


D. Withdrawals and Purchases


You authorize the BANK to automatically debit from your ACCOUNT an amount equal to the withdrawal, transfer, or purchase you made, plus applicable fees and charges, if any, in accordance with the BANK’s transaction records.


E. E-commerce or Online Transactions


You may use your ACCOUNT to pay for goods and services procured through e-commerce or online transactions. The BANK shall not be held liable for any undelivered goods or non-performance of services, defects, damages, and after-sales services pertaining to such goods or services, and/or any other dispute between you and the seller/service provider arising from such transaction.


F. International ATM and Debit Access


You may use your Debit Card to make ATM withdrawals and do purchases at POS terminals outside the Philippines where Mastercard is supported, subject to applicable transaction fees and foreign exchange rates.


G. Transaction Disputes


Should you find any discrepancies in your ACCOUNT transactions, you agree to communicate the same to the BANK via its 24-hour BPI Contact Center or any BPI branch. Any disputed transaction shall be investigated by the BANK, which may entail, among others, further verification of transaction records and confirmation from you, the merchant, and/or network, as may be applicable. Any dispute must be filed within twenty (20) calendar days from the transaction date. The dispute shall be resolved in accordance with the dispute processes and procedures of the BANK, MasterCard, or BancNet, as the case may be.


VII. MISCELLANEOUS PROVISIONS


A. Data Privacy Policy


You consent to the collection, processing, disclosure and retention of personal data and account information to the extent described in the BANK’s Data Privacy Statement posted on www.bpi.com.ph, as the same may be amended or supplemented from time to time.


B. Consent to Disclosure


You acknowledge and agree that updated information relating to you (including personal data), your transactions, business and credit relationships, your deposit account(s) or deposit account information or records provided by you or made available to or in the possession of BANK or any member of the BPI Group of Companies, their successors and assigns (collectively, the “Information”), may be collected, obtained, used, stored, consolidated, processed, profiled, benchmarked, disclosed, and shared by the BANK or by and between the BANK and any member of the BPI Group of Companies or by and between or among the BANK and any member of the BPI Group of Companies, for any or all of the following (the “Purposes”):


a. To approve, manage, facilitate, administer and implement transactions, services and facilities in connection with your ACCOUNT;


b. To comply with (i) the BANK’s operational, audit, administrative, credit and risk management processes, policies and procedures, (ii) these Terms and Conditions, (iii) BSP’s rules and regulations, and (iv) legal and regulatory requirements of government regulators, judicial or supervisory bodies, tax authorities, or courts of competent jurisdiction, as the same may be amended or supplemented from time to time;


c. To comply with applicable laws of the Philippines and those of other jurisdictions including the United States Foreign Account Tax Compliance Act (FATCA), the laws on the prevention of money laundering and terrorism activities, and the implementation of know your customer and sanction screening checks;


d.  To develop and enhance the product, business and customer offerings of the BANK and/or any member of the BPI Group of Companies, which may include the conduct of product, system, statistical or business analysis, surveys, schemes, planning and research;


e. To pursue marketing, sales, promotional, advertising, and business initiatives (the “Marketing Initiatives”), which may include the development, formulation, dissemination, distribution and rollout of Marketing Initiatives information, materials, documents or brochures, relating to the products, services, events, promotions, programs, and offers, of the BANK or any of the BPI Group of Companies or by third parties with which the BANK or any of the BPI Group of Companies, under a duty of confidentiality, has contracted with (the “Program Partners”), whether such Marketing Initiative is undertaken individually by the BANK or by any of the BPI Group of Companies or pursued together with any other member(s) of the BPI Group of Companies or with Program Partners under a joint venture initiative, servicing agreement, cross-selling arrangement, loyalty or promo program or any project undertaking on a collective or tie-up basis;


For purposes of these Terms and Conditions, “BPI Group of Companies” means, collectively, the BANK and its Affiliates and their respective subsidiaries and affiliates, such as, but not limited to, BPI Family Savings Bank, Inc., BPI Direct Banko, Inc., BPI Capital Corporation, BPI Asset Management and Trust Corporation, BPI/MS Insurance Corporation, BPI Century Tokyo Lease & Finance Corporation, BPI Century Tokyo Rental Corporation, and BPI Securities Corporation. Affiliate means any corporation, partnership or other form of association which is directly or indirectly controlled by the BANK.


f. To carry out, fulfill and complete the transactions authorized by you in connection with the BANK’s performance of the services, facilities and channels contemplated under these Terms and Conditions.


Pursuant to the relevant Purpose(s), the BANK may share and disclose your Information, whether within or outside the Philippines, under a duty of confidentiality:

  • to any other member of the BPI Group of Companies;
  • to its directors, officers, employees, professional advisers, legal counsels, auditors, agents, representatives, service providers, and third parties providing services to the BANK on a “need to know” basis;
  •  to merchants and promotional, network, loyalty program and joint venture partners, and their respective service providers, in order to carry out, fulfill and/or complete the transactions authorized by you;
  • to credit information companies, credit bureaus, the Credit Information Corporation (CIC) (pursuant to RA No. 9510 and its implementing rules and regulations), financial institutions, banking, and credit industry associations, credit protection provider or guarantee institutions, brokers, insurers, and underwriters, in relation to your availment of the products, services and facilities of BPI or the Bank (collectively, the “Credit Entities”);
  •  to any judicial, governmental, regulatory or supervisory body of the Philippines or those of other jurisdictions, including exchange of information among tax authorities in compliance with FATCA, as the same may be amended or supplemented from time to time;
  • to any potential transferee or assignee of the BANK’s rights and/or obligations under the relevant contracts or agreements, or in connection with any sale, acquisition, merger or consolidation of any of the BPI Group of Companies;
  • to representatives, agents or service providers engaged by the BANK or by any of the BPI Group of Companies to perform (whether within or outside the Philippines) data processing, collection, consolidation, storage and such other services in connection with the products, services, and facilities availed of by you (the “Outsourced Service Providers”);
  • to representatives, agents or service providers engaged by the BANK or by any of the BPI Group of Companies or by Program Partners, in connection with the Marketing Initiatives; and,
  • to such other persons or entities that the BANK or any of the BPI Group of Companies or the Credit Entities, if applicable, or the Outsourced Service Providers may engage or contract with to facilitate or carry out any or all of the foregoing Purposes.


The foregoing constitutes your express consent under the applicable bank secrecy, confidentiality and data privacy laws of the Philippines and other jurisdictions and you agree to hold the BANK, each member of the BPI Group of Companies, successors and assigns, and their respective directors, officers, employees, authorized representatives, agents, and service providers free and harmless from any and all liabilities, claims, damages, suits, costs, and expenses resulting from or in connection with the implementation of the Purposes and authorities conferred under these Terms and Conditions.


C. Use of Client Information


You agree that information (including documents) relating to the ACCOUNT may be shared and disclosed by the BANK to any other member of the BPI Group of Companies or Program Partners, its authorized representatives, agents and service providers, to facilitate the processing of your application or enrolment to avail of a product, channel or facility offered by the BANK, by members of the BPI Group of Companies or its Program Partners. Your application and/or enrolment to avail of such products, facilities or services of the BANK, of any member of the BPI Group of Companies or of any Program Partner shall constitute your express consent and authority to allow the disclosure and sharing of your personal data and/or account information under the applicable bank secrecy, confidentiality and data privacy laws of the Philippines and other jurisdictions to enable the BANK, any member of the BPI Group of Companies or Program Partners to process your application and/or enrolment.


D. Notices


Notices, amendments to these Terms and Conditions, and other communications may be posted in the BANK’s website, mobile app, ATM on-screen message, or in conspicuous places within its branches, or sent to you via any of the following modes: (a) mail or delivery to your last recorded mailing address; (b) transmission electronically to your registered e-mail address with the BANK; (c) short messaging service (SMS); or (d) such other mode of communication or use of an electronic platform as may be deemed appropriate by the BANK or as may otherwise be permitted by law or banking regulations, any of which mode of communication or transmission when sent shall be valid and effective notice to you.


E. Indemnification/Limitation of Liability


1. All expenses and legal costs related to the BANK’s enforcement of its rights and remedies under these Terms and Conditions or under law or equity shall be for your account and may either be debited against any of your accounts with the BANK, whether maintained under these Terms and Conditions or as regular accounts of the BANK or with any member of the BPI Group of Companies or directly collected from you.  


2. The BANK has no liability if it is unable to process your transaction due to any of the following:


a. If, through no fault of the BANK, your ACCOUNT has insufficient funds to complete a transaction or falls below the required ADB;


b. If there are security concerns, or if the ACCOUNT has been closed or suspended;


c. System downtime or service/channel unavailability due to reasons beyond the BANK’s control and other instances as the BANK may determine.


d. Force majeure or other causes beyond the BANK’s control.


3. The BANK shall not be liable for any loss or damage arising from: (i) unauthorized or fraudulent access or utilization of your ACCOUNT, or availed products, services, channels and facilities, whether or not you have knowledge of the same; (ii) any error and/or mistake attributable to you and/or your representative; or (iii) force majeure or other causes beyond the BANK’s control.


4. The BANK, its directors, officers, employees, agents, representatives and service providers (collectively the “Bank and its Officers”) shall be reimbursed/indemnified against, and shall be held free and harmless from all liabilities, actions, claims, damages, costs, taxes, fees, charges, expenses and suits, which may be brought against or suffered or incurred by them or any of them and which shall have arisen either directly or indirectly in connection with the (i) implementation or performance of these Terms and Conditions; (ii) enforcement of the BANK’s rights and remedies; (iii) the BANK's reliance and action upon your declaration and/or representation; (iv) action upon any instruction which the BANK reasonably believes in good faith to have emanated or originated from you; or (v) any and all errors inadvertently committed, including computer or machine related errors, in the handling or processing of transactions that may arise in connection with the ACCOUNT.


5. To the full extent allowed by applicable laws, the BANK shall not be liable for any special, consequential, indirect, incidental or punitive damages (or any loss of actual or anticipated revenue or profits) arising out of or in connection with the ACCOUNT or its termination, and irrespective of whether you have advised the BANK of the possibility of any such loss or damage.


The provisions of this clause on Indemnification/Limitation of Liability shall survive the termination, cancellation or suspension of the ACCOUNT.


F. Force Majeure


You agree and consent that the BANK will not be responsible or liable for any delay, non-performance, or failure to perform any of its obligations in connection with the ACCOUNT for reasons due to, arising out of, or caused by, directly or indirectly, circumstances beyond its reasonable control, including, without limitation, acts of God, natural disasters, calamities, earthquakes, fire, floods, wars, rebellion, civil or military disturbances, sabotage, acts of terrorism, criminal acts or willful misconduct by a party other than the BANK, its officers or employees, epidemics, pandemics, loss or malfunction of utilities or facilities, power outages, electrical or mechanical failure, computer hardware or software failure, system failure or system downtime, network or telecommunication failure, causes or acts attributable to third persons or parties, labor disputes, strikes, walk-outs, riots, lock-outs, or other governmental actions.


G. Severability


If any of these Terms and Conditions or amendments is declared to be invalid or unenforceable, the remaining portions or provisions hereof shall remain in full force and effect.


H. Disclaimer of Warranties


To the full extent allowed by applicable laws, all warranties, whether express or implied by law or statute, are excluded herein. The BANK does not represent or warrant to you that its products, services and channels offered herein: (i) will meet all your requirements; and (ii) will be uninterrupted, timely, secure or free from error.


I. Governing Law and Venue


The ACCOUNT and these Terms and Conditions shall be governed by and construed in accordance with Philippine laws. Any dispute arising hereunder shall be submitted to the jurisdiction of the proper courts of Makati City, Philippines, to the exclusion of all other venues.


J. Consumer Protection


To report unauthorized transactions and for comments or complaints, you may contact the BANK’s 24-hour BPI Contact Center at (+632) 889-10000 for Metro Manila; 1-800-188-89100 for domestic toll-free calls (available to PLDT subscribers); (+632) 889-10000 for mobile phone and international access; and International Toll-Free Numbers (refer to Contact Us for details) or send an email to help@bpi.com.ph.


Annex A: Payroll Terms and Conditions


In cases where you have nominated this ACCOUNT as your payroll account in accordance with these Terms and Conditions, you agree to be governed by and adhere to the following Payroll Terms and Conditions which are deemed incorporated herein by reference:


In connection with the Payroll Facility between the Bank of the Philippine Islands (hereinafter referred to as the “Bank”) and the entity constituting the Company of which I am an employee (hereinafter referred to as the “Company”), I hereby consent to the following:


1. The minimum maintaining deposit balance requirement for my designated payroll account shall be waived for as long as the aforesaid Payroll Facility between the Bank and the Company remains in effect and I continue to be employed by the Company. The Bank reserves the right to: (i) immediately close and/or cause the untagging of the aforesaid payroll account; or (ii) lift the waiver on the minimum maintaining deposit balance requirements, without need of prior written notice, demand or consultation:


a. if the Bank’s written instruction for me to validate and/or confirm the payroll tagging of my account is not fulfilled or complied with within the period prescribed therein;


b. once the Company’s Payroll Facility with the Bank is terminated;


c. upon written instruction from the Company;


d.  when the Bank incurs loss or damage arising from acts or omissions which, in the Bank’s sole determination and judgment, constitute mishandling of the payroll account and/or evident bad faith or fraud on my part;


2. The Bank is hereby expressly and irrevocably authorized to debit, without notice, my payroll account for whatever amount(s) necessary to effect any adjustment(s) on what has been credited to said payroll account for reason(s) of correction(s) or any error(s) or mistake(s) that may have been committed in the Company’s payroll preparation or in the Bank’s crediting or in cases of overdrafts.


3. The Bank shall not be responsible or liable for any delay, non-performance or failure to perform any of its obligations under this Payroll Facility for reasons due to, arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including but without limitation, acts of God, natural disasters calamities, earthquakes, fire, floods, wars, civil or military disturbances, sabotage, acts of terrorism, terrorist attacks, criminal acts or willful misconduct by a party other than the Bank, its officers or employees, epidemics, pandemics, riots, interruptions, loss or malfunction of utilities, facilities, power outages, electrical or mechanical failure, computer hardware or software failure, system failure or system downtime, network or telecommunication failure, causes or acts attributable to third persons or parties, labor disputes, strikes, walk-outs, riots, lock-outs, rebellion or acts of civil or military authority or governmental actions.


As part of this arrangement, I hereby authorize the Bank or the Company, as the case may be, to disclose and share information about me, my payroll account and my transactions to the Company or the Bank, while the aforesaid payroll arrangement with the Company remains in effect or even after its termination provided it pertains to information related to my payroll account or payroll transactions or upon receipt of advice by the Bank from the Company of my resignation, discharge, separation or termination from the Company’s employ or termination of this arrangement. I likewise authorize the Bank to disclose and share information about me, my payroll account and my transactions to its subsidiaries, affiliates, successors and assigns, their respective directors, stockholders, officers, employees, representatives, agents, service providers  and such other persons or entities engaged by it or by its subsidiaries or affiliates, when such disclosure or sharing is necessary or appropriate to facilitate, administer or implement the purposes and intentions of this arrangement or those that may relate to or arise therefrom, as and when required by the circumstances, or as may be required or allowed by applicable laws, bank policies, government regulatory rules and regulations. For this purpose, the foregoing constitutes my express consent under applicable bank secrecy, confidentiality and data privacy laws of the Philippines and other jurisdictions, Including without limitation, the provisions of RA No. 1405 (The Law on Secrecy of Bank Deposits), RA No. 6426 ( The Foreign Currency Deposit Act), RA No. 10173 (Data Privacy Act of 2012), RA No.8791 (The General Banking Law) ( collectively, the “Bank Secrecy and Privacy Laws”).


If, for whatever reason, no payroll credits are made to my payroll account for a period of two (2) consecutive calendar months, you shall have the absolute right and are hereby authorized, at your option and without need of further notice to, demand from, or consultation with, the Company or me, to automatically convert my payroll account to a regular deposit account.


By nominating this ACCOUNT as my payroll account, I hereby agree to indemnify and hold the Bank, its  subsidiaries, affiliates (collectively, the "BPI Group of Companies"), their respective directors, stockholders, officers, employees, representatives, agents, service providers and such other persons or entities engaged by them under an obligation of confidentiality, free and harmless from any and all liability, claims, demands, actions, proceedings, losses, expenses and all other liabilities of whatsoever nature or description which may be suffered or incurred by the Bank, each member of the BPI Group of Companies, their respective directors, stockholders, officers, employees, representatives, agents, service providers and such other persons or entities engaged by them, arising from or in connection with the implementation of the payroll arrangement and the authorizations I have made in connection therewith.



1 List of acceptable Philippine government-issued IDs: Driver’s License, Passport, Postal ID, PRC ID, SSS ID, UMID. IDs should not be expired and must include your name, picture, date of birth, signature, and expiration date. The BANK reserves the right to amend this list from time to time.


2Subject to amendment.


3To know the applicable initial deposit amount and the prescribed period within which to deposit, you may refer to BPI #SaveUp’s product page in the BANK’s website.


4See Annex A.


5For updates on available channels, you may refer to the BANK’s website.


6Subject to amendment from time to time.