Terms and Conditions

The term "Bank", "we" and/or "our" shall refer to any of the said Bank of the Philippine Islands, or BPI Family Savings Bank, Inc. or BPI Direct Savings Bank, Inc. or any member of the BPI Unibank or any of its subsidiaries and affiliates. The terms "you" and/or "your" shall refer to the accountholder(s) of any of the Bank of the Philippine Islands or BPI Family Savings Bank, Inc. or BPI Direct Savings Bank, Inc. or any member of the BPI Unibank or any of its subsidiaries and affiliates.

The terms "Account" and/or "Accounts" shall refer to each account or such account(s), product(s), service(s) or facility(ies) of the Bank which you opened and/or availed pursuant to these Terms and Conditions.

1. Applicability of/Conformity to Terms and Conditions; Amendments and Nomination/Enrollment Effectivity – You agree that any current, savings, time deposit and/or other accounts (whether in local or foreign currency) which you opened and/or maintained with the Bank, shall be considered as part of the Bank’s Accounts, products, services and facilities, which may be accessed through various channels. Such Accounts, products, services, facilities and channels shall be subject to and governed by the Terms and Conditions set forth herein or as the same may be amended, modified and revised from time to time.

All terms and conditions of existing current, savings, time deposit and/or such other account agreements with the Bank, insofar as these are not inconsistent with the terms and conditions governing all the other Bank products, services, facilities and channels, shall remain in full force and effect and shall form part hereof.

You further agree that the Bank shall, from time to time, and, at its discretion, have the right to add, revise, modify, amend, supplement or cancel, in whole or in part, any of the Accounts and such other products, services, facilities and channels, as well as the terms and conditions thereof, such as but not limited to terms and conditions on minimum balance requirement to earn interest; tiered rates of interest and corresponding placement brackets; and relevant charges and fees. Any such addition, revision, modification, amendment, supplement or cancellation will take effect and are deemed binding on you upon notice to you in writing or by display or advertisement in the Bank premises, or by publication, or by posting on the Bank’s website, or by electronic mail or such other electronic transmission including short messaging service or similar means of delivery or by such other methods of communication which the Bank considers appropriate and effective, all of which additions, revisions, modifications, amendments, supplement or cancellation shall form an integral part of these Terms and Conditions.

New Accounts and such other products, services, facilities and channels may be introduced by the Bank from time to time. By using these new Accounts and such other products, services, facilities and channels when they become available, you agree to be bound by the terms and conditions covering the same including any and all amendments, modifications and revisions thereof. The existing terms and conditions relating to the Accounts and such other products, services, facilities and channels already availed shall likewise govern the availment of upgraded/expanded/improved versions, as well as variants or affiliated versions thereof, in addition to any other or new terms and conditions, insofar as these are not inconsistent therewith.

Any Accounts and such other products, services and facilities and/or its upgraded/expanded/improved versions, variants and/or affiliated versions thereof which are availed and/or covered under the appropriate terms and conditions may automatically be activated and/or enrolled by the Bank, at its option, in the pertinent delivery system or channel of the Bank without need of further notice or advice to you.

The Bank, its parent company, any member of the BPI Unibank, its subsidiaries and affiliates or partner institutions may, from time to time, undertake marketing and sales promotions for which separate terms and conditions or promotional mechanics shall be developed and which shall be in effect during the period specified by the Bank. It is understood and agreed that such terms and conditions are supplementary to these Terms and Conditions.

In case the Accountholder is a minor, it is agreed that the parent(s), guardian(s) and/or the person(s) exercising parental authority over the minor: (i) have read and understood and are bound by these Terms and Conditions; (ii) have explained to the minor the use and operation of the Accounts, products, services, facilities and channels; and (iii) undertake to explain to the minor the use and operation of any new Accounts, products, services, facilities, channels and any enhancements/new features thereof, as well as any new terms, conditions and changes thereto. The parent(s), guardian(s) and/or person(s) exercising parental authority acknowledge that they have principal and solidary liability with the Accountholder and, as such, hold the Bank free and harmless and indemnified from damages, liabilities, claims, suits and causes of action arising from the use and operation of the Accounts, products, services, facilities and channels.

In the case of deposit in trust such as the "In-Trust- For" Account ( ITF Account ), you hereby agree that the owner of the funds is the individual for whose benefit the ITF Account is opened and that you are merely holding and operating said account in trust for such owner.

If any of these Terms and Conditions or its modifications, additions, revisions, amendments or supplements thereto is declared to be invalid or unenforceable, the remaining portions or provisions thereof shall remain in full force and effect.

2. Other Governing Laws, Rules and Regulations - The Terms and Conditions herein shall be governed by and construed in accordance with the applicable laws of the Republic of the Philippines and by the Bank’s by-laws, regulations and practices which shall be brought to your attention by publication, display, advertisement, posters including posting on the Bank’s website or otherwise, by electronic mail, facsimile transmission or by such other electronic transmission including short messaging service or similar means of delivery and you submit to the non-exclusive jurisdiction of Philippine courts.

All circulars, rules and regulations and guidelines of 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/investment placements shall form part of and shall be deemed incorporated by reference into these Terms and Conditions. You also agree that all the Accounts and such other products, services, facilities and channels shall likewise be governed by all applicable circulars, rules and regulations of the BSP, PDIC, AMLC and such other relevant government regulatory bodies or agencies.

3. Account Opening and Maintenance – The Accounts may be opened and maintained at the sole discretion of the Bank, upon your compliance with all the account opening/maintenance/documentary requirements as may be required/imposed by the Bank from time to time such as, but not limited to, "Know Your Customer" ("KYC") as required by the AMLC, the submission of duly completed and executed account opening forms, the appropriate corporate Board Resolutions and approvals, delivery of the initial deposit amount and such other supporting documents as may be prescribed by the Bank.

You agree to nominate a branch of convenience, which may be any Bank branch which will: (a) identify, assist and orient you in your account opening; and (b) facilitate your over-the-counter transactions.

4. Representations and Warranties – You represent and warrant to the Bank on a continuing basis that:

(a) You have secured all appropriate corporate approvals and authorizations necessary to make the terms and conditions of the Accounts, products, services, facilities and channels as well as any modifications, additions, revisions and/or supplements thereto, binding and enforceable;

(b) You shall not misuse, abuse nor employ any of the Accounts, products, services, facilities and channels for purposes other than the intended use thereof;

(c) Nothing in the Terms and Conditions governing the Accounts, products, services, facilities and channels shall interfere with, or result to a breach of the provisions of any other agreements binding upon you;

(d) All particulars, data, information and documents which you provided or submitted to the Bank are complete, accurate and true to your best knowledge, and you shall immediately notify the Bank in writing of any changes thereto.

5. Banking Days - “Banking Days” are from Monday through Friday, except for banking, legal and/or special holidays, whenever such term is used in reference to (i) banking days of regular branches; (ii) determining the period of time i.e. notices, performance of action etc., or (iii) days of the week when Bank transactions are posted into the Bank's system.

The Bank may choose to open selected regular bank branches and kiosks on weekends to open Accounts and cross-sell specific identified Bank products.

6. Acceptance of Deposits - The Bank may accept your deposits in cash or check, or similar instruments such as money orders/treasury warrants. In the case of check deposits, the Bank acts only as your collecting agent in receiving your checks and other items/documents for collection. You further agree to assume full responsibility for the correctness, authenticity and validity of all endorsements appearing on the checks or other items deposited to the Bank. Drawings may not be made against such check deposits, until actual payment has been received by the Bank, or full proceeds has been collected from correspondent banks, in accordance with: (i) existing BSP/Philippine Clearing House Corporation (PCHC) rules and regulations; or (ii) clearing or collection arrangements made with correspondent banks, in case of checks denominated in foreign currency. However, the Bank may still charge back any spurious, defective, erroneous or lost item credited to the Account regardless of the time that has elapsed, whether or not the item itself can be returned. Second endorsed checks are not allowed. Deposits made through the Bank’s night depository facility or through deposit pick-up service, shall be subject to the Bank's final count and verification, the findings of which shall prevail over the figures/amounts you indicated in the deposit slip. The Bank shall notify you of any discrepancy.

The Bank may likewise accept credits to/debits from the Accounts (i.e. payroll accounts, remittances or fund transfers or suppliers'/distributors' accounts).

In case of credits/payments to your Account, you represent that you are entitled to receive such credits/payments from the payor. In case of debits/payments from your Account, you represent that you have authorized such debits/payments to the payee. The Bank is hereby authorized to effect any adjustments on what has been credited to/debited from the Accounts to, among others, correct any error or mistake committed, without need for any further instrument, deed, consent or authorization. Should the Account balance be insufficient to allow debit of such amount in order to correct said error or mistake, you hereby 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 with others, or whether maintained with the Bank or any member of the BPI Unibank or any of their subsidiaries or affiliates. This is without prejudice to the Bank's right to consolidate, transfer and set-off your Account balances as set forth In Section 28.

7. Interest on Accounts - Interest on your Accounts will be calculated based on such Accounts' daily balance provided that your balance does not fall below the required balance to earn interest. Interest earned shall be credited according to the Bank-determined interest rate as are/will be reflected on the pricing and rates advisories and as the same may be amended, revised, updated and/or supplemented from time to time.

8. Minimum Account Balance - You shall maintain account balances at the agreed/required 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)

The Bank may impose and collect service charges and/or maintenance fees on Accounts, whether active or dormant, where the Account balances: (i) have fallen below the required minimum monthly ADB, for dormant accounts; and (ii) have fallen below for at least two (2) consecutive months, for active accounts. Any Account with zero balance, regardless of status, may automatically be closed by the Bank without notice.

You agree not to close the Account within one (1) month from Account opening and hereby authorize the Bank to immediately and automatically effect a one (1) month partial hold-out on your Account, in an amount equivalent to a maintenance fee specified in an attachment herein which shall be made an integral part hereof, or in such other amount as may be prescribed by the Bank from time to time. You agree that in the event that the Account is closed within one (1) month from Account opening, the maintenance fee shall immediately be paid and the amount subject of the partial hold-out shall automatically be applied to the payment of said fee.

You acknowledge that you are at all times aware of the required minimum monthly ADB, the service charges, maintenance fees, dormancy fees and penalties applicable for various types of Accounts, products, services, facilities and channels, as the case may be, 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 such area near the Bank’s ATM or in conspicuous places within the Bank’s premises and/or posted in the Bank’s website, whichever is applicable, all of which are made integral parts hereof.

The Bank may waive the maintenance of the monthly ADB. The Bank, however, reserves the right, in its sole discretion and at any time, to lift/cancel such waiver for whatever reason.

The Bank may, from time to time, revise and/or change the applicable fees, charges, penalties including increases in the required minimum monthly ADB for various types of Accounts, products, services, facilities and channels, as the case may be. Notices of any change or revision will be provided to you through Statements of Account, through the Bank channels, publication, display or advertisement, posting in the ATM on-screen messages or such area near the Bank’s ATM or in conspicuous places within the Bank’s premises and/or through posting in the Bank’s website 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, 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 and/or availment of the Accounts, products, services, facilities and channels of the Bank 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.

9. Dormant Accounts - In compliance with BSP rules and regulations, any of your Accounts which remains inactive or where no client-initiated transactions were performed [i.e. two (2) years for Savings Accounts and one (1) year for Current Account], will be considered dormant and for dormant accounts which are or have fallen below the required minimum monthly ADB, a corresponding monthly service/dormancy fee or as the same may be revised, updated, modified and/or changed from time to time, will be imposed until reactivated by a deposit or withdrawal of funds. Moreover, Accounts inactive for ten (10) years shall be escheated in favor of the Treasurer of the Philippines.

You shall be informed by registered mail with return card or proof of delivery (POD) service of the Philippine Postal Corporation and other mail couriers on your last known address at least sixty (60) calendar days prior to the imposition of service/dormancy fee.

10. Authority to Impose Charges - You hereby authorize the Bank to impose from time to time service charges and such other bank charges on any or all of the Accounts and such other products, services, facilities and channels within legal and regulatory limits.

11. Account Withdrawals - Only signatures appearing on the signature cards on file will be honored by the Bank for withdrawals and transfer of funds. Such withdrawals/transfer of funds from your Accounts shall be subject to the following terms:

(a) Savings Accounts - You agree that the Bank shall not be liable for payments made to any person who shall present such savings passbook. No entries other than those effected by the Bank shall be recorded in the Savings Passbook.

The savings passbook is issued to assist you in monitoring your transactions and account balance. However, since your Account allows you to transact business even without the savings passbook, through your ATM and such other Bank channels, the amount of balance shown therein will not be conclusive, unless updated and verified by the Bank after comparison with its records.

In the event of any discrepancy between the entries in the savings passbook and the Bank's records, the latter shall prevail. Savings passbooks are not transferable. Only duly accomplished withdrawal slips containing signatures, using the English or any other Anglicized alphabet, in ink or other means of writing with a character of permanence shall be honored.

For non-passbook accounts, you hereby agree to withdraw through the ATM. The Bank reserves the right to impose fees and charges for non-passbook transactions undertaken over-the-counter.

(b) Current Accounts – Withdrawals from Current Accounts made thru checks should be duly executed by you. Only checks containing signatures, using the English or any other Anglicized alphabet, in ink or other means of writing with a character of permanence shall be honored.

(c) Time Deposits – Time deposits (TD) are deemed automatically paid/terminated at maturity date with proceeds credited to a settlement account you designated upon your TD account opening pursuant to your instruction appearing on your TD certificate. Presentation of the certificate will no longer be necessary to effect auto-payment on maturity date/last maturity date. If terminated prior to maturity date/last maturity date, the original certificate shall be endorsed and surrendered for payment, proceeds of which will be credited to your designated settlement Account.

(d) Foreign Currency Deposits - Withdrawals in foreign currency notes are subject to availability of such notes. Fractions of foreign currencies may, at the Bank's discretion, be paid in pesos. Conversion rates from one currency to another will be based on the Bank's prevailing buying and selling rates. Service fees may be charged for foreign currency cash withdrawals/deposits. The Bank shall have the right to pay your withdrawal in the currency you require and/or such other currency at the Bank's absolute discretion.

12. Signature Cards - You agree to complete and submit signature cards containing your specimen signatures or those of your authorized signatory(ies) with authentication by the duly appointed corporate secretary/managing partner/appropriate officer, if a juridical entity, and Customer Information Sheet (CIS) and other required bank forms in such manner and in such frequency as may be required by the Bank, existing laws, and/or applicable BSP and AMLC regulations.

13. Reliance - You hereby irrevocably and unconditionally authorize the Bank to:

(a) Rely and act, without liability on the Bank's part, upon:

(i) notices, requests and other correspondences and documents which may from time to time be received by the Bank and sent, or purport to be given, by you or upon your behalf through telephone, telex, facsimile, short messaging services (SMS), electronic mail transmissions or through scanning, whether as a picture image of a scanned document or as an attachment to an email, transaction triggers, including encoded data or uploaded files, or such other means shall be deemed fully authorized by and conclusively binding upon you;

(ii) the genuineness of the documents submitted, and the signatures and seals on such documents; and

(iii) all instructions, information, orders, requests and communications (collectively, the "Instructions") received by the Bank from you or any of your authorized representatives by whatever medium.

(iv) all Instructions which the Bank, in its sole discretion, reasonably believed in good faith to have emanated from you through the use of your BPI Debit Card/Data/Number.

(b) Accept such Instructions as correct, accurate and duly authorized by you.

You hereby agree that the Bank may, at its option, record any and all of your telephone communications with the Bank. You further acknowledge and agree that such recordings may be used by the Bank for any purpose including as evidence in any judicial, administrative or proceeding.

The Bank will process your transactions based on the Instructions you have given. The Bank is entitled to (but is not bound) to take such steps in connection with or in reliance upon the Instructions as the Bank may in good faith consider appropriate. The Bank shall not be held liable for transactions that have been completed based on erroneous requests including but not limited to: (i) erroneous and invalid data, such as but not limited to, mobile number, Account/reference number, merchant name or scheduled dates for payment/funds transfer inputted; or (ii) erroneous amount inputted. As such, the Bank will not be responsible for the verification and accuracy of Instructions received by the Bank. The Bank's records and books shall be conclusive evidence of such Instructions.

In consideration of the Bank acting in accordance with the Instructions, you hereby irrevocably agree to indemnify and hold the Bank free and harmless from and against all liabilities, losses, claims, actions, suits, proceedings, demands, damages, costs and expenses of whatever nature arising out of or in connection with the Bank's reliance and implementation of the Instructions.

14. Joint Accounts – For Joint “AND” and Joint “OR” Accounts, you agree to be governed by the following terms and conditions:

(a) Each person who is a signatory for a Joint Account shall be deemed an Accountholder of such Joint Account.

(b) Each of you represents that you are of legal age or have the capacity to open a deposit account or enter into legally binding contracts.

(c) Any balance credited to your Joint Account(s), presently or in the future, is and will be owned by you as Joint Accountholders and unless the contrary is proved, your respective interests in the Joint Account is presumed equal. In case of death of any of the Joint Accountholders, you acknowledge that the interest, if any, of the heirs of the deceased Joint Accountholder, shall be limited to the share of the deceased Joint Accountholder in the Joint Account.

(d) Your obligations or any amount including whatever fees, charges, or taxes, which may be due and owing to the Bank, shall be joint and several and the Bank may set-off/debit/reimburse the same from any Account jointly held by you or any Account held individually by any of you.

(e) Each of the surviving Accountholders shall immediately notify the Bank in writing of the death of any one of the Accountholders. Upon receipt of the written notice of death, the Bank may hold all moneys and items in the name of the Accountholders (i) to the credit of all the Accountholders, or surviving Accountholders, as the case may be; or (ii) as security for, any services, facilities, products or obligations then outstanding in the name of all or any of the Accountholders. Any release of the funds shall be subject to applicable laws, rules and regulations, as well as the Bank’s policies, procedures and practices.

(f) In case the Bank receives contradictory instructions from the Joint Accountholders, the Bank may, at its option, require all Joint Accountholders to provide the Bank with common instructions. In the absence of such common instructions, the Bank may opt to either freeze the Account or file an action for interpleader in court or take such other appropriate actions or remedies to resolve the contradictory instructions. You agree to reimburse the Bank for the cost of suit, attorney's fees, and other expenses that the Bank may incur in resolving the contradictory instructions.

(g) Notice to any one of you shall be deemed sufficient notice to all of you.

(h) In cases where:

(i) there is a claim or dispute relating to the Account, or

(ii) there are conflicting claims or representations causing or threatening to cause confusion or doubt as to the ownership of, or manner of operating the Account, or

(iii) the Bank receives contradictory instructions, written or otherwise, or any instruction not to allow a co-depositor to operate the Account, or

(iv) there is an instruction or request by any person natural or juridical, for the Bank to freeze the Account, or

(v) there exists or occurs circumstances or events analogous or similar to any of the foregoing.

The Bank shall have the right, in its sole discretion, but without any obligation to do so, to freeze the Account and/or take any necessary action, including but not limited to, the filing of interpleader suits, any of which acts performed by the Bank are hereby expressly authorized, confirmed and ratified by you. For this purpose, you hereby agree to fully indemnify and hold the Bank, its directors, officers, employees and representatives free and harmless against any and all liabilities including civil, criminal or administrative liabilities, which the Bank, its directors, officers, employees and representatives or any of them may incur or suffer in connection with the Bank's act of freezing the Account or the pursuit of any such action which the Bank, at its option, considers appropriate including the filing of interpleader suits.

(i) You all agree that any check payable to any one or a combination of some or all of the Joint Accountholders, may be deposited to the Joint Account without need of the signature/endorsement(s) of all or any of the payee(s). Furthermore, you agree that all funds deposited into the Joint Account shall be owned by all of you as Joint Accountholders regardless of the source of funds or payee(s) of the checks deposited into the Joint Account.

14.1. For Joint “AND” Accounts, you agree that the signatures of all Accountholders are required for all transactions of whatever nature relating to the Accounts.

14.2. For Joint “OR” Accounts, you agree to be governed by the following terms and conditions:

(a) BPI Debit Cards may be issued to some or all of you. In such cases, the Bank may implement debit instructions for such Accounts which are received from any one of you using any of the BPI Debit Cards.

(b) All instructions, notices or communications, directions and transactions, including any assignment or encumbrance to be made by any one of you through any of the Bank’s Accounts and channels are deemed done with the consent of your Joint Accountholders.

(c) Further, by opening a Joint “OR” Account, as joint co-depositors, each of you warrants that you have irrevocably designated, constituted and appointed each other as attorney-in-fact and authorize each other to do any transactions relating to the Account. Thus, you authorize the Bank to honor, at the Bank’s sole discretion but without obligation to do so, (i) any withdrawal, funds transfer or disbursement effected by any one of you through the Bank’s Accounts and channels, (ii) any assignment or encumbrance of the Account by any of you, as security for any obligation, and (iii) all checks, instructions by telephone, notices or other communications, directions, other instruments and transactions signed and effected by any one of you without restriction.

(d) The provisions of items (a), (b) and (c) above notwithstanding, you agree that the Bank shall not honor the following instructions or documents unless otherwise specifically instructed in writing or executed by all of you:

(i) Instruction to change address or any other instructions concerning the maintenance of the Account;

(ii) Affidavit of loss and request for replacement of passbook or certificate of deposit or any other evidence of Account ownership. Affidavit of Loss and request for replacement of BPI Debit Card should be executed by the Accountholder to whom the Card was issued;

(iii) Special Power of Attorney authorizing a third party to (a) withdraw or effect funds transfer, disbursement or any transaction relating to the Account, or (b) assign or encumber the Account as security for any obligation; and

(iv) Instruction to add an Accountholder or delete an Accountholder from the Account.

15. Corporate or other Non-individual Accounts - For corporate or other non-individual Accounts, you hereby represent and warrant to the Bank on a continuing basis that the incorporation and its related documents, information and representations contained in the relevant bank forms submitted for account opening are up-to-date, complete, true, correct, accurate and that all appropriate and necessary corporate action has been taken to authorize the execution of documents, instruments and agreements related to the opening of the Accounts as well as the availment of products, services, facilities and channels of the Bank. You hereby acknowledge and agree that, unless and until the Bank receives notices in writing of any changes, the Bank is authorized to fully rely and act on such information and representations for all purposes without liability and without need of conducting any further verification on the accuracy of such information. You likewise acknowledge that your Accounts as well as the products, services, facilities and channels of the Bank availed by you shall be governed by, and that you agree to be bound by, and comply with, these Terms and Conditions, as the same may be amended, revised, updated, modified and/or supplemented from time to time.

In cases where:

(a) there is a claim or dispute, including intra-corporate disputes, relating to the Account, or

(b) there are conflicting claims or representations causing or threatening to cause confusion or doubt as to the ownership of, or manner of operating the Account, or

(c) the Bank receives contradictory instructions, written or otherwise, or any instruction not to allow a signatory to operate the Account, or

(d) there is an instruction or request by any person, natural or juridical, for the Bank to freeze the Account, or

(e) there exists or occurs circumstances or events analogous or similar to any of the foregoing.

The Bank shall have the right, in its sole discretion, but without any obligation to do so, to freeze the Account and/or take any necessary action, including but not limited to, the filing of interpleader suits, any of which acts performed by the Bank are hereby expressly authorized, confirmed and ratified by you. For this purpose, you hereby agree to fully indemnify and hold the Bank, its directors, officers, employees and representatives free and harmless against any and all liabilities including civil, criminal or administrative liabilities, which the Bank, its directors, officers, employees and representatives or any of them may incur or suffer in connection with the Bank's act of freezing the Account or the pursuit of any action which the Bank, at its option, considers appropriate including the filing of interpleader suits.

16. Waiver of Rights Under Confidentiality Laws/Disclosure of Information – You agree, consent, permit and authorize the Bank to process, store and/or make disclosures, without need of notice, of all information, whether personal/sensitive/privileged information or otherwise, relating to your Account(s) to:

(i) third persons and entities to facilitate administration and implementation of the Accounts, the Bank products, services, facilities and channels; or

(ii) the Bank’s local or foreign branches, its parent company, any member of the BPI Unibank, its subsidiaries and affiliates or such other related companies, whether organized in the Philippines or in other jurisdictions, to assist the Bank in the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure, destruction of data, administration, sharing, implementation and servicing of the Accounts, the Bank products, services, facilities and channels; or

(iii) government regulatory agencies, credit information/investigation companies, financial institutions, credit bureaus, other banks, credit card companies, loyalty program partners, consumer reporting or reference agencies, whether based in the Philippines or other jurisdictions, for reports of your credit history and account updates including but not limited to past due on litigation status of accounts, full payments, or settlement of previously reported defaulting accounts; or

(iv) third parties engaged by the Bank or by its parent company, its subsidiaries or affiliates, any member of the BPI Unibank or such other related companies under a duty of confidentiality to offer selected products and services which may interest you unless you specifically instruct otherwise in writing; or

(v) service providers or entities to assist in the administration and implementation of the Accounts, the Bank products, services, facilities and channels; or

(vi) insurers, insurance brokers or providers of deposit or credit protection or protection against all kinds of risks against loss or damage including but not limited to fraud or unauthorized charges; or

(vii) such bodies/agencies having regulatory authority over the Bank, or having regulatory authority or jurisdiction where your checks, deposits, withdrawals or fund transfers pass/are cleared/transmitted or delivered; or

(viii) such other persons or entities the Bank may deem as having authority or right to such disclosure of information, as and when required by the circumstances, as in the case of:

(a) the Bank’s participation in any ATM network, electronic fund and/or credit card network; or

(b) resulting from the Bank's outsourcing of its functions, such as but not limited to, compliance with Know Your Client ("KYC") requirements, completion of signature cards and Customer Information Sheets ("CIS"), signature verification, distribution of account opening kits, remittance to and remittance from your Account(s) and printing/processing of bank statements. As such, you expressly waive your right under confidentiality laws in the Philippines or in other jurisdictions including but not limited to RA 1405 or The Law on Secrecy of Bank Deposits, RA 6426 or The Foreign Currency Deposit Act and RA 8791 or The General Banking Law, and allow processing, storing, access to and/or sharing of any information regarding your Account(s) as well as the Bank products, services, facilities and channels which you have activated, enrolled in or availed of pursuant to these Terms and Conditions.

The foregoing waiver and consent shall be deemed to likewise include any future laws which may be subsequently enacted relative to the processing, storing, sharing, updating and disclosure of any personal information or such other information that may be required for the purposes and to the entities enumerated above.

17. Waiver of Article 1250 of the New Civil Code - You expressly waive the provisions of Article 1250 of the New Civil Code (which relates to cases of extraordinary inflation or deflation of foreign currency and stipulates that unless agreement exists to the contrary, the basis of payment shall be the value of the currency at the time of establishment of the obligation) and hereby agree that said article shall not be applicable.

18. Dishonor and Return of Checks - Return of checks drawn against insufficient funds (DAIF) or drawn against uncollected deposits (DAUD), or with technical defects shall be governed by the rules and regulations of the PCHC and the BSP and/or the clearing arrangements entered into by the Bank for the clearing of foreign currency denominated checks. The Bank reserves the right to dishonor and return checks, at its discretion, without prior notification at any time and you agree that the Bank shall incur no liabilities arising from said dishonor and return. Fees for the return and/or dishonor of checks shall be for your account and shall be debited automatically from your Account without prior notice.

19. Stop Payment Order (SPO) - You acknowledge and agree that:

(a) You can request a stop payment order (SPO) of your check before the check has been paid or accepted or certified for payment by giving clear written instructions to the branch where your Account is maintained, or through the Bank channels. You agree that the SPO is accepted on the assumption that the check has not yet been negotiated as of the date and time you issued the SPO and that stale dated checks cannot be accepted for SPO.

(b) You also acknowledge that SPOs, for dated and undated checks, are valid for a period of six (6) months from the date of the Bank’s receipt of the SPOs, unless sooner renewed/extended in writing for another six (6) months. Such renewal/extension shall be effective from the Bank’s receipt of the request for renewal/extension. Furthermore, you agree that the SPO issued on the undated checks will be void and ineffective six (6) months after the date of your SPO and will, therefore, be automatically cancelled by the Bank without need for further notice. Lifting of an SPO can only be made upon your written request if the SPO is to be revoked prior to the expiration period. Issuance of SPOs are subject to the payment of applicable fees and charges which may be revised and/or changed by the Bank from time to time. Said fees and charges shall be debited from your Account without further notice.

(c) You further undertake to notify the Bank promptly in writing of any change in the conditions which give rise to your request for SPO.

20. Checkbooks: Use, Reorder - You acknowledge and agree that:

(a) You can request for checkbook reorder in the branch where your Account is maintained or through the Bank channels. You agree that:

(i) You can only request a maximum of four (4) checkbooks within a month.

(ii) The checkbook you ordered will be for pick-up at your maintaining branch, or if applicable, at your nominated branch on the date specified by the branch or as may be stated in the Bank channels' confirmation receipt of checkbook reorder. Due to storage space constraints, you hereby authorize the Bank to destroy checkbooks which are not picked-up within ninety (90) calendar days from date when the same becomes available.

(iii) Your Account will be debited for the cost of the checkbook(s) without need for further demand, notice or consent. You agree to submit a letter of authorization if such checkbook(s) will be picked-up by a representative. In no case shall the Bank be held liable for the release of the checkbook(s) to your authorized representative or for the non-transmittal of a confirmation letter, should the Bank opt to send one but without any obligation to do so and you agree to hold the Bank free and harmless therefrom.

(iv) You shall notify the Bank promptly in writing of any change in the conditions which give rise to your request for checkbook reorder.

(b) Your use of the MICR checks printed by, or secured from, entities other than those accredited by the Banker's Association of the Philippines (BAP) Accreditation Board shall constitute a waiver on the part of the drawer/issuer of the rights to claim for reimbursement/refund or damage of any kind including, but not limited to, those arising from fraudulent acts.

(c) You shall maintain your checkbooks in a secure and safe place accessible only to you and your authorized signatory(ies) and you shall ensure that it is only you or your duly authorized signatory(ies) who draw(s) or issue(s) the same. Any alterations on your checks shall be authenticated with your or your authorized signatory's(ies') full signature.

(d) You likewise acknowledge the need to exercise due care when drawing and releasing/delivering checks. You agree not to draw checks by any means which may enable a check to be altered. Neither shall you release/deliver incompletely drawn checks nor release/deliver checks by mail or any unsecured means.

(e) When drawing checks, you are bound by the conditions to which checkbooks are issued, including the following: (i) clearly state the amount in words and figures in the spaces provided on the check; (ii) write words and figures close to the left-hand margin so that other words and figures cannot be inserted; (iii) countersign alterations to checks with full signature without which the Bank reserves the right to return checks that have been altered.

(f) You shall provide security measures for the safekeeping and use of your checks and check records. You shall exercise diligence to obtain your cancelled checks and bank statements and inform the Bank in case of non-receipt of your bank statements within a reasonable time from your statement cut-off date.

21. Credit Accommodations – The Bank, at its sole discretion, may, from time to time, and subject to the terms and conditions in the Bills Purchase Application, grant you a credit accommodation by purchasing checks payable to you and advancing the amount of the check. You agree that you shall be responsible for and shall pay the resulting advance or credit thereby created and for all related charges thereon.

22. Deposit Insurance

(a) Deposits are insured by the PDIC up to a maximum amount per depositor or in such other amount as may be prescribed by applicable laws or by regulatory issuances from time to time.

(b) PDIC shall presume that the name(s) appearing on the deposit instrument is/are the actual/beneficial owner(s) of the deposit, except as provided herein.

(c) In case of transfers or break-up of deposits, PDIC shall recognize actual/beneficial ownership of transferees who are qualified relatives of the transferor in accordance with the requirements of applicable laws.

(d) In case of (a) deposits in the name of, or transfers or break-up of deposits in favor of, entities, either singly or jointly with individuals, and (b) transfers or break-up of deposits in favor of non-qualified relatives, whenever such transfers/break-up will result in increase deposit insurance coverage, PDIC shall recognize beneficial ownership of the entity or transferee provided that the deposit account records show the following:

(i) details or information establishing the right and capacity or the relationship of the entity with the individual(s), or

(ii) details or information establishing the validity or effectivity of the deposit transfer, or

(iii) copy of Board Resolution, order of competent government body/agency, contract or similar document as required/provided by applicable laws.

(e) In the absence of any of the foregoing, PDIC shall deem the outstanding deposit as maintained for the benefit of the transferor although in the name of the transferee, subject to consolidation with the other deposits of the transferor.

(f) PDIC may require additional documents from the depositor to ascertain the details of the deposit transfer or the right and capacity of the transferee or his relationship to the transferor.

23. Statements of Accounts - Statements of Accounts showing the transactions and balances in relation to your Account(s) and such other banking products, services and facilities may be provided by the Bank, at its option, and as may be allowed by laws and regulations: (i) for current accounts and accounts where the Bank opts to deliver a statement, by mail or otherwise, to your last recorded mailing address or electronic mail address; or (ii) in your maintaining branch, through “anytime Bank statement”; or (iii) through the Bank channels or any one of them. For current Accounts and such other accounts where the Bank opts to deliver a statement, you agree that if within ten (10) calendar days from your statement cut-off date, such statement has not been received, it is your responsibility to go to your maintaining branch to ask for such copy or avail of applicable channels to view, print or download such statement. Otherwise, the same shall be conclusively deemed received by you. 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.

You shall examine the bank statements and the paid checks or check images enclosed therein to ascertain if: (a) any and all the entries in the bank statements are correct; (b) the amount(s), payee(s) and other data indicated on the paid checks are true and accurate and there are no discrepancies therein; (c) there are any fraudulent, altered, forged signatures or endorsements on the checks or the checks are defective. You shall notify the Bank of any complaints or questions on the Bank statements or the enclosed paid checks or check images within twenty (20) calendar days from the transaction date. Failure to make the examination or the notification within the aforesaid period shall be deemed a conclusive admission of the correctness of the Bank statements and the enclosed paid checks or check images.

24. Notices, Statements and Communications - Notices, statements, account information and other matters and communication may be mailed or delivered to your last known mailing or electronic mail address appearing on or as may be specified in the records of the Bank or picked-up from the Bank or sent to you by such other means of communication including short messaging service (SMS) which the Bank, at its option, considers appropriate and effective. All communications sent by mail or by electronic mail or by short messaging service (SMS) or by facsimile transmission or by such other electronic transmission including posting in the Bank’s website to any of your last known address, facsimile number, mobile number or electronic mail address which you provide to the Bank in writing from time to time shall be deemed to have been duly delivered to you. Notice to one shall be deemed sufficient notice to the other co-depositors/obligors. We can also communicate to you through the Bank channels or any one of them.

25. Offer to Participate in Promos - You hereby authorize the Bank and its partner institutions to offer you participation in promotional offers, advertisements, surveys or such other similar programs by communicating to you in writing, or by electronic mail, or by facsimile transmission, or by short messaging service (SMS), or by such other electronic transmission which the Bank, at its option, considers appropriate and effective or through the Bank channels or any one of them including posting in the Bank’s website.

26. Closure of Accounts - The Bank retains the right to close, at its sole discretion, any or all your Accounts for any reason whatsoever at any time and without obligation to disclose the reasons for such closure.

The Bank is authorized to close Accounts even without prior notice in case said Accounts are: (a) mishandled by the issuance of unfunded or insufficiently funded check(s); or (b) involved in or used or suspected to be used for any fraudulent, criminal or unlawful activities; or (c) there was/were misrepresentation(s) in the opening of the said Accounts and to report such closure and the reason(s) therefore to BAP, BSP, or to any central monitoring entity or body established by the BAP or BSP to keep record of and report mishandled deposit account.

You agree that in connection with the closing of a current Account, you shall surrender all unused checks, whenever required by the Bank.

The Bank shall pay you the proceeds of your closed Accounts via Manager’s Check net of all applicable charges, fees and/or taxes and/or such amounts which shall answer for your outstanding contingent liabilities under any of the products, services and facilities availed of by you. The Bank also reserves the right not to release checkbooks, BPI Debit Card or other items paid in advance for Accounts the Bank decided to close.

You will hold the Bank and its officers and employees free and harmless from all liabilities, claims and demands of whatever kind in connection with or arising from: (a) the closing of Accounts; and/or (b) the dishonor of any check thereunder which may be presented to the Bank after the closing of the Accounts; and/or (c) the reporting of the closure of Accounts and the reason(s) therefore to the BAP, BSP, or any central monitoring entity or body or bureau established by the BAP or BSP to keep record of and monitor mishandled accounts.

27. Termination/Suspension of Agreement/Use - The Bank reserves the right to terminate or suspend the agreement covering the products, services, facilities and channels or to terminate or suspend your current or future use of the same in whole or in part, if, among others, you violate the relevant service agreement, pose a security threat, you provide any information that is untrue, inaccurate, not current or incomplete, or when the products, services, facilities or channels, in the opinion of the Bank, are being used or suspected to be used for fraudulent, criminal or unlawful activities or for any cause whatsoever, at any time without prior notice.

Your use of the BPI Debit Card is subject to revocation and/or repossession upon receipt of notice by the Bank of any violation of any of the terms and conditions stated therein and for any other reason(s) which, in the opinion of the Bank, would prejudice the interest of both yourselves and the Bank. You agree to return the BPI Debit Card at the Bank's request. You acknowledge that the Bank may withdraw, disable and/or suspend the BPI Debit Card or services offered in connection therewith without prior notice.

The arrangement between the Bank and any of its affiliated merchants in Bank products, services and facilities may be cancelled/terminated at any time without prior notice of cancellation/termination to you.

28. Consolidation/Set-Off/Transfer - You authorize the Bank to, without liability, combine or consolidate the outstanding balance in any of your Accounts with any of your other Accounts which you maintain with the Bank or its parent company or with any member of the BPI Unibank or any of its subsidiaries and affiliates, and set-off and/or transfer any moneys standing to the credit of such other Accounts in, or towards, satisfaction of your liabilities, including whatever fees, charges, taxes and/or any amount which may be owed or owing to the Bank or its parent company or any member of the BPI Unibank or any of its subsidiaries and affiliates. You agree that this right to set-off/transfer applies whether or not the outstanding obligation is in a currency different from the currency of the moneys intended for setting-off/transfer, or is held at a branch in a different jurisdiction, or held by you jointly with other persons. For such purpose, the Bank shall be entitled to convert the balance in such other Account into the same currency as the outstanding obligation, including change of Account number. The Bank’s rights hereunder shall not be affected by your death or subsequent legal incapacity. For purposes of this provision, you hereby give the Bank, its parent company, any member of the BPI Unibank, including any of its subsidiaries and affiliates, the full power and authority to implement the foregoing acts, the performance of which are hereby expressly authorized, confirmed and ratified by you.

29. Right to Dispose and Destroy Documents - The Bank reserves the right to dispose and destroy any documents relating to the Accounts or your instructions within a period of time as may be allowed under relevant laws, rules and regulations and/or after microfilming or having them imaged.

30. No Liability/Indemnity

(a) The Bank shall have no obligation or liability for any reduction due to taxes or depreciation in value of funds credited to or maintained in your Accounts.

(b) All expenses and legal costs, associated with the Bank's rights hereunder or the enforcement of your obligations under these Terms and Conditions shall be for your account and may be debited against any of your Accounts.

(c) The Bank shall incur no liability if it is unable to process your transaction because of the existence of any one or more of the following circumstances:

(i) If, through no fault of the Bank, your nominated payment Accounts does not contain sufficient funds to complete the transaction. Only cleared and withdrawable balances of said Accounts shall be considered and made available for payment. In case of insufficient funds in your nominated payment Accounts, your payment or reloading request will automatically be cancelled by the Bank;

(ii) If there are security concerns, or if the nominated payment Account does not maintain the required Average Daily Balance (ADB), or has been suspended or has expired, or if the Enrolled Credit Card Account's credit limit has been exceeded.

(iii) The facility is not working properly and you know or have been advised of the malfunction before you execute the transaction;

(iv) The merchant mishandles or delays a payment sent through the Bank channels. You understand that the Bank will make arrangements with the merchants so that the payment or reloading of your Accounts with the merchants will be done immediately. However, this is not within the control of the Bank. Delays in payment or reloading by slow responding merchants, may take longer to be credited by the merchants to your said Accounts.

(v) Channel unavailability due to reasons beyond the Bank's control and other instances as the Bank may determine.

(d) The Bank shall not be liable for:

(i) your non-compliance with the provision(s) of these Terms and Conditions;

(ii) your failure to transact during offline situations or during such other instances as the Bank may determine, including among others, exceeding the allowable number PIN/Access number encoding errors;

(iii) for any loss or damage, whether the same is caused or is due to unauthorized or fraudulent access or utilization of your BPI Debit Card, any service, facility or channel, or is attributable (directly or indirectly) to any dispute or any other matter or circumstances. These include, but is not limited to, the failure of any computer, machine, data processing system or transmission link or the BPI Debit Cards or ATM, as well as, the discontinuance or unavailability of ATM services in other countries (which services will be governed by local regulations), the temporary insufficiency of funds in such machines or otherwise;

(iv) acting or not acting upon any report for lost, stolen or captured ATM / BPI Debit Cards and request for replacement thereof; or

(v) any delay or failure to post any payments, or any misposting due to, among others, your error in encoding the Account/ATM Numbers, Mobile Numbers or Reference Numbers, as well as any discrepancy between the billing amount and the paid amount. The same shall be resolved between you and the payee-companies and/or individuals; or

(vi) Bank's failure to (a) effect any payment transaction, or (b) provide any of the Bank's products, services, facilities and channels, or (c) carry out your instructions, including telephone instructions or send a monthly statement to you.

(e) The Bank, its directors, officers, employees, agents and representatives 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 the Bank, its directors, officers, employees, agents and representatives or by any of them and which shall have arisen either directly or indirectly in connection with the Bank's implementation of these Terms and Conditions, or in performing its obligations hereunder, including but not limited to:

(i) implementation of No. II, Sections 6 and 8 hereof

(ii) implementation of SPOs or payment contrary to the request for SPOs, if the same occurs through inadvertence or accident only or payment by the Bank effected over-the-counter under an offline environment even after SPO was acknowledged by the Bank;

(iii) the Bank's reliance on your declaration and/or representation or in accepting or implementing or acting by the Bank, at its sole discretion, based on your requests and/or instructions which the Bank reasonably believes in good faith to have emanated or originated from you, or acting or failing to act thereon unless due to the willful default of the Bank; or
(iv) any and all errors inadvertently committed, as well as, any computer related errors in the handling or processing of transactions that may arise in connection with your Accounts or your availment and/or activation of any Bank's products, services, facilities and channels or the acceptance of the benefits thereon.

The above provisions shall survive the termination, cancellation or suspension of any of the Accounts as well as the products, services, facilities and channels of the Bank.

1. Use and Security of BPI Debit Card, Access Data and Access Number

(a) The Bank shall provide you with instructions on how to use the various channels. You can access any, some or all of your opened/enrolled/nominated Accounts with the use of the applicable/relevant channel's BPI Debit Card/Data/Number.

(b) You can access your Accounts through your BPI Debit Card/Data/Number 7 days a week, 24 hours a day. For purposes of dating your transactions on these 7x24 channels, a bank cut-off time has been implemented. All transactions done before the designated bank cut-off shall be posted to your Account on the same day. Transactions after cut-off on a banking day or completed on a Saturday, Sunday or banking holiday, will be posted on the next banking day.

(c) For the ATM/POS channel, you may be issued, at the sole discretion of the Bank, a BPI Debit Card which you may use to access your Accounts through the Bank's or its affiliated ATMs or POS terminals/networks and effect such permitted transactions in relation therewith. You agree to sign the BPI Debit Card promptly upon receipt thereof and to keep the BPI Debit Card secure at all times.

(d) You acknowledge that withdrawals/purchases/inquiries on your Accounts through ATMs or POS can be made only by using a valid BPI Debit Card together with your correct Personal Identification Number (PIN). A card is valid when it has the correct Joint Account Indicator (JAI), and Sequence Number.

(e) For ATM/POS channel, you acknowledge that you were provided a Temporary PIN together with the BPI Debit Card. This Temporary PIN will allow you to nominate your own personalized PIN as your first ATM transaction. You further acknowledge that this Temporary PIN will not allow you to do any withdrawal/purchase/balance inquiry transaction on your Accounts from any ATM or POS. Full access to your Account may only be made with your personalized PIN. You agree to personally nominate your own PIN promptly upon release of the BPI Debit Card and its Temporary PIN. You acknowledge that failing to nominate your PIN within two (2) banking days from date of BPI Debit Card release shall automatically deactivate the BPI Debit Card's operating status, and in such case, you are required to personally request the branch where the Account is maintained to have the BPI Debit Card reactivated.

(f) For Express Phone/Phone Banking, a Telephone Identification Number (TIN) is required for any self-service transactions which you or your Company Users may wish to undertake. A default TIN is given upon card issuance. In case the default TIN expires or the existing TIN is forgotten or blocked for whatever reason, you or your Company Users are required to nominate a new TIN and activate the service.

(g) For Express Online/BPI Online, you agree that you will properly log-out from your Accounts 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.

(h) The BPI Debit Card/Data/Number are being issued 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.

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

(j) You further agree and undertake to change your Access Data/Number from time to time as you deem necessary and whenever the Bank requires you to do so. Should you feel that your Access Data/Number has been compromised, you agree to immediately change your Access Data/Number through the Change Access Device facility.

(k) You agree and undertake to immediately call 889-10000 or report to your maintaining branch, loss or theft of any BPI Debit Card issued to you or any unauthorized use of your BPI Debit Card/Data/Number or any of your Accounts or any other breach of security within twenty-four (24) hours from such occurrence. Further, cards that are captured for no apparent reason in any ATM must likewise be reported promptly within twenty-four (24) hours from card capture. You agree that the Bank has the option, but not the obligation, to act upon reports of lost, stolen or captured cards and/or request for replacement from a finder or any person who may have an interest in the Account, such as but not limited to a co-depositor or benefactor/funder of the Account (e.g. parent or guardian). Any loss due to withdrawal/purchase/transfer of funds using any lost/stolen BPI Debit Card prior to receipt by the Bank of your written confirmation or stop payment order or report of loss made to 889-10000 shall be for your account. You acknowledge that the Bank has no obligation to issue a replacement BPI Debit Card to you following the loss or theft of the BPI Debit Card originally issued to you.

2. Internet Banking; Nomination/Enrollment of Account
It is agreed that you personally nominate/enroll each and every nominated payment Account and third party Accounts that you indicated in the Express Online/BPI Online enrollment form, and that you request that these Accounts be given the functionalities of Express Online/BPI Online. You further agree that should you nominate any of your Accounts as a nominated payment Account in Express Online/BPI Online, the Bank, at its option, may automatically enroll all your other Accounts which may be linked with your nominated payment Accounts in Express Online/BPI Online, without need for further authorization or consent on your part. You likewise further agree that by enrolling in Express Online/BPI Online, you may be automatically enrolled in the products, services and facilities which are available or are provided by the Bank such as but not limited to credit cards or loans. The Bank, however, reserves the right, at its discretion, to require your enrollment in select products, services and facilities as it may deem fit and appropriate.

3. Bank Products, Services or Facilities
By availing of Bank products, services or facilities through some or all of the channels you agree to be further bound by the terms and conditions, rules and reminders of the channel you are transacting in. For Internet Banking, you may agree to the terms and conditions by checking the “I Agree” option. It is agreed that such terms and conditions are deemed incorporated herein by reference and form an integral part of these Terms and Conditions. The following are some of the Bank products, services or facilities you may avail:

(a) Acceptance of ATM Deposits - You agree that the receipt electronically generated at the time a deposit transaction was made represents what you purport to have deposited. Your cash deposit via Cash Acceptance Machines (CAMs) shall be credited to your Account after electronic verification. However, your cash and check deposits via regular ATMs shall be credited to your Account after proper verification by two (2) authorized personnel. You further agree to assume full responsibility for the correctness, authenticity and validity of all endorsements appearing on the checks or other items deposited to the Bank.

(b) Express Payment System (EPS) – The BPI Debit Card allows you to use the facility, known as the "Express Payment System" (EPS), for payment of goods and services purchased from participating merchants. The purchased amount is automatically debited from your account through the POS.

Any EPS transaction which may be questioned shall be subject to Bank investigation, which may include among others, the verification of transaction records and confirmation with you and/or the merchant. After the investigation, the Bank has the right and is hereby authorized to automatically, without need of any further notice, act or deed, debit/credit the Account and the merchant's account depending on the results of the said investigation.

(c) International ATM Access – The Bank has existing arrangements with international networks that would allow BPI Debit Cards to be used outside the Philippines. Any withdrawal made with a BPI Debit Card against your Account in the Philippines constitutes a disbursement of the Account in the Philippines and a remittance to the country where the transaction was effected and shall be subject to the laws and regulations of both the Philippines and the country where such transactions were made.

Cash withdrawals outside the Philippines shall be in the currency of the institution owning the ATM from where such transactions were made. Cash withdrawals are also subject to exchange controls, regulations or limitations in effect in the country where the ATM is situated and will be converted at the prevailing exchange rate at the time of the transaction. Transactions shall be subject to international transaction fees as determined by the international network through which the transactions were coursed, likewise subject to exchange rate prevailing at the time of the transaction.

You also acknowledge and agree that your transactions at non-BPI/BPI Family Savings Bank ATMs in the Philippines that display the Cirrus brand mark are international in nature and may therefore be subject to international service charges.

(d) Transactions in Other ATM/POS Networks – You agree that the Bank does not have any control over the participants of the ATM or other network through which you may access your Account(s), or the ATM themselves, or the procedures or controls such ATM or other network participants adopt in regard to data/information processing. Hence, the Bank shall not be liable for any loss or damage of whatever nature incurred by you (i) instances where you are unable to use your BPI Debit Card or to avail of any service due to disruption or failure of the ATMs, the ATM or other network or communication facilities linking the same, or (ii) arising out of any failure, delay or rejection regarding the use of your BPI Debit Card or availment of any service, or (iii) when caused or due to unauthorized or fraudulent access or utilization of your BPI Debit Card or any service. You understand and agree that transactions coursed through any of these networks shall be subject to transaction fees as determined by the networks through which the transactions were coursed.

(e) Account Balance Inquiry – You can access the Available Balance or the withdrawable balance of each of your Accounts as of the date and time of your inquiry exclusive of uncleared check deposits, and any amount on hold and transactions under process and the Total Balance as of the date specified inclusive of check deposits. Likewise, you can also access the balance of your investment accounts as of the date and time indicated upon inquiry exclusive of transactions and requests under process. Auto and housing loan information are also available as of the date and time indicated upon inquiry exclusive of transactions and requests under process.

(f) Account Details Access – You can access transaction occurring within the preceding sixty (60) calendar days from date of last statement. You may, however, request for a copy of the Bank statement or account details for transactions that occurred prior to the said sixty (60) - day period. This statement shall be sent to the mailing address specified in your Signature Card for the particular account or any designated electronic mail address which you provide to the Bank in writing from time to time.

Completed Immediate Funds Transfers are reflected immediately in the withdrawable balance of your Accounts. You may view the details of the transactions in the Current Transactions screen. The Account History Screen shall reflect the transaction details on:

1. Next banking day – if your Immediate Funds Transfer is received by the Bank before Bank's cut-off downtime.

2. After two (2) banking days – if your Immediate Funds Transfer is received by the Bank after Bank's cut-off downtime.

(g) Bills Payment and Prepaid Reloading – You may avail of the Bills Payment and the Prepaid Reloading facility by enrolling your card number at your branch of account or through any of the applicable channels available by accomplishing the enrollment form indicating therein the Reference Numbers of the companies and/or individuals you wish to pay. All Bills Payment and/or Prepaid Reloading merchants that you pre-enrolled in any channel may, without need of further notice, instruments or acts, likewise be automatically enrolled in the other channels where available.

Bills Payment pertains to a bill payment while the Prepaid Reloading facility entails a reload of prepaid accounts. Prepaid accounts may include Prepaid Mobile Phone Accounts via debit from any nominated payment Account. Such payment or reload may be made via Express Teller/BPI ATMs, Express Phone/Phone Banking, Express Online/BPI Online or Express Mobile/BPI Online.

Bills Payment transactions may be effected immediately or scheduled in advance. These are subject to the cut-off times and processing schedules of the channel.

Only cleared and withdrawable balances of your nominated payment Accounts shall be considered and available for any payment.

You shall notify the Bank in writing of any and all changes in your enrolled Reference Number/Merchants.

Any misposting, delay or failure to post any payments, as well as any discrepancy between the billing amount and the paid amount shall not involve the Bank. Instead the same shall be resolved between you and the payee-companies and/or individuals.

You hereby authorize the Bank to disclose to any of the payee-companies any matter pertaining to your Accounts as may be necessary for the operation of the Bills Payment and the Prepaid Reloading.

Payment shall be for current bills only. Payments for past due or overdue account with service disconnection/termination or lapse of policy/contract shall be made directly to the collection offices of the payee-companies.

Payment procedures/stipulation imposed by your payee-companies and/or individuals which are not inconsistent herewith or with any of these Terms and Conditions or with any related documents or instruments executed by you and the Bank shall be deemed incorporated herein by reference and are hereby made an integral part of the enrollment form.

Un-enrolled Bills Payment and Prepaid Reloading may be made available for certain channels as and when additional security measures/device become available.

(h) Funds Transfers – You can only transfer funds to and from your enrolled savings and checking Accounts that are in your name and enrolled third party Accounts. The Bank may, at its option, include additional types of Accounts and additional foreign currencies Accounts that may be eligible for Funds Transfer. The amount of funds transferred shall be deducted from your nominated payment Account where the transfer came from and will be added to the Account where it is transferred to.

a. Funds Transfer may be effected immediately or scheduled in advance. These are subject to the cut-off times and processing schedules of the channel.

b. Funds Transfer can originate from your savings or current Accounts.

c. Only cleared and withdrawable balances of your nominated payment Account shall be considered for Funds Transfer. In case of insufficient funds in said Account, your Funds Transfer request will automatically be cancelled and no further attempt will be made by the Bank to make the transfer. The Bank shall have no obligation nor shall it incur any liability if it does not complete a transfer due to insufficiency of funds in your nominated payment Account. In all cases, you shall take sole responsibility for making alternate arrangements for the transfer.

d. In the case of multiple Funds Transfer coming from a nominated payment Account and the Account has only enough balance to make some but not all Funds Transfer, the Bank, in its sole discretion, may determine which of your transfer requests to complete.

e. You agree that the recipient's Account name and/or Account Number may be revealed or disclosed to you and/or indicated in your Statement of Account. Further, you agree that your Account name and/or Account Number may be revealed or disclosed to the recipient and/or indicated in the recipient's Statement of Account.

f. Foreign currency Funds Transfer are subject to the limitations set by the Bank or any governing body or regulatory agency as to the type of currency, amount, frequency, types of accounts, trading period and rates.

g. Un-enrolled Funds Transfer may be made available for certain channels as and when additional security measures/device become available.

(i) Other Special Services - You can make other service requests and inquiries such as but not limited to, Stop Payment Order (SPO), Checkbook Reorder, Address Change, Application Status Inquiries, ATM and Credit Card-related Requests and Inquiries, Loan Services Inquiries, Remittance-related Inquiries and Enrollment Procedures Inquiries through any of the channels where available, or by way of electronic mail or other electronic means using such procedures that the Bank may prescribe from time to time, which requests are deemed conclusive and binding on you. For this purpose, you hereby authorize the Bank to rely upon and act in accordance with any such requests conveyed through any of the above means. Pursuant thereto, you agree to indemnify and hold the Bank free and harmless from any claim in connection with any such requests.

4. Proofs of Transactions

Each successful banking transaction shall be evidenced for records purposes and may be used by the Bank as basis in investigating any complaints lodged by the depositor, by a system-generated:

a. Transaction Record for Express Teller/BPI ATMs or EPS;
b. Transaction Slip for EPS;
c. Confirmation Number for Express Online/BPI Online;
d. Acknowledgment Number for Express Phone/Phone Banking; and
e. Trace ID/Reference Number for Express Mobile/BPI Online

5. Other Electronic Services
You acknowledge that other features and functionalities offered in the electronic channels of the Bank are subject to and are governed by a separate service agreement of the applicable electronic channel. Your activation, usage or availment of any of these electronic channels or services shall constitute your acceptance of, and agreement to be bound by, the terms & conditions governing use of the channels or services including those pertaining to the imposition of fees, charges and penalties, reminders and footnotes in the web pages, mobile screens and audio spiels as well as any such amendments, revisions, updates, or modifications thereof which may be instituted by the Bank from time to time, all of which are likewise made an integral part of these Terms and Conditions.