CALAPILLO, MARK KEVIN PEDROLA

1 0 2 7 1 9 9 7
POTOTAN, ILOILO

BARANGAY TUMCON ILAUD, POTOTAN, ILOILO

PHILIPPINES 5008 12

6 3 9 5 0 2 2 8 7 8 1 7

ITSMEMARKEVIN@GMAIL.COM WWW.FACEBOOK .COM/ITSMEMARKEVIN

FILIPINO

POTOTAN FARMERS MULTI-PURPOSE COOPERATIVE OFFICE SECRETARY

MATIAS YUSAY STREET, POTOTAN, ILOILO

PHILIPPINES 5008
POTOTANFARMERSMPC@YAHOO.COM

11,000.00

MARK KEVIN P. CALAPILLO

 Terms and Conditions Governing the Opening & Maintenance of Accounts
1. Agreement. The accountholder (the “ACCOUNTHOLDER” or currency) opened and/or maintained with the BANK, investments and/or
“ACCOUNTHOLDERS”) hereby agrees to be governed and bound by these placements in products of the BANK, and other services and facilities of the
terms and conditions governing the opening and maintenance of accounts (the BANK (the “Account” or “Accounts”) which may be accessed through various
“Terms and Conditions”). The ACCOUNTHOLDER may access the Terms channels provided by the BANK, shall be subject to and governed by these
and Conditions at www.pnb.com.ph. Terms and Conditions, as may be amended, revised or modified from time to
time.
2. Accounts. The ACCOUNTHOLDER agrees that deposits (savings,
current, time deposit and/or other deposit products, whether in local or foreign
All terms and conditions of existing deposits, investments, placements, 7. Interest. Deposit Accounts with a minimum balance as prescribed
products, services, facilities and/or other accounts of the ACCOUNTHOLDER by the BANK shall earn interest based on rates as may be determined by the
with the BANK, insofar as these are not inconsistent with these Terms and BANK from time to time.
Conditions, shall remain in full force and effect and shall form part hereof.
Interest will be computed based on the average daily balance of the Deposit
3. Account Opening and Maintenance. The Account may be opened Account and shall be credited to form part of the principal on the last day of
and maintained upon the ACCOUNTHOLDER’s compliance with all account the interest period (the “Interest Payment Date”). No interest shall be paid on
opening/maintenance requirements, such as but not limited to, submission of savings and/or demand deposit accounts closed prior to Interest Payment
duly completed and executed account opening forms, appropriate resolutions Date even if these accounts meet the required minimum balance to earn
and approvals and such other supporting documents acceptable to the BANK, interest at the time of closure.
proper verification of identity and signatures pursuant to “Know Your
Customer” (KYC) requirements and delivery of the minimum account All interest earned shall be subject to withholding tax at prevailing rates except
requirement as may be prescribed by the BANK. those with a valid certificate of exemption from the Bureau of Internal Revenue
(“BIR”). For this purpose, the ACCOUNTHOLDER agrees to hold the Bank
4. Data Privacy. The ACCOUNTHOLDER consents to the collection, free and harmless from any liability that may arise as a result of the BANK’s
use, processing, transfer, sharing, consolidation, management and disclosure reliance on such exemption submitted by the ACCOUNTHOLDER.
of the ACCOUNTHOLDER’s information, to the extent necessary and
appropriate, for the following purposes: (i) verifying the ACCOUNTHOLDER’s The ACCOUNTHOLDER authorizes the BANK to disclose or submit to the BIR
identity and performing customer due diligence; (ii) providing the or any government agency such information as may be necessary in
ACCOUNTHOLDER services in respect of the Account, including but not connection with the withholding or exemption from taxes under this provision.
limited to, administering, facilitating, handling, and implementing transactions,
orders and instructions for the Account and any matter arising in connection 8. Fees and Charges. A fee shall be charged on the following based
thereto; (iii) managing the business operations of the BANK including without on existing policies of the BANK:
limitation to business continuity planning, risk management, safety and
security, system enhancement, product development and research, audit, a. Active Deposit Accounts falling below the required minimum
warehousing and retrieval of data; (iv) meeting the BANK’s legal and monthlymaintaining balance for two (2) consecutive months;
compliance obligations arising from foreign or domestic law or regulation on b. Dormancy fee on deposit accounts inactive or without client initiated
money laundering, terrorist financing, fraud, exchange of information and transactions for 5 years and falling below the required minimum
other applicable laws; (v) enforcing or defending the remedies or rights of the maintaining balance;
BANK in respect of the Account; (vi) evaluating the ACCOUNTHOLDER’s c. Deposit Accounts closed within a month after opening;
suitability and eligibility to avail of products, services and facilities provided by d. Request for the issuance of certification of account balances;
the BANK and select third parties and promoting and offering these products, e. Replacement of lost or damaged passbook and Automated Teller
services and facilities to the ACCOUNTHOLDER on a “no commitment” basis; Machine (ATM) card;
(vii) requesting feedback and participation in surveys, seminars and the like f. Stop payment requests for check/s; and
and conducting market research and analysis for statistical purposes, g. Other services related to the Account upon due notice to the
demographics and market trends; (viii) enabling the BANK to assign or ACCOUNTHOLDER.
transfer, wholly or partially, any of its rights, obligations, liabilities and causes
of action, tangible or intangible, to a third party; and (ix) any other purpose The fees/charges under items (a), (b) or (c) shall be automatically debited by
related to the foregoing, to the following entities: (i) the BANK’s overseas and the BANK from the Deposit Account (regardless of whether the Deposit
domestic branches and offices; (ii) third parties selected by the BANK; (iii) Account is owned singly or jointly). In case the Deposit Account is insufficient
agents, subcontractors, vendors, service providers, and professional advisers to answer for the fees/charges, the BANK shall deduct said amounts from
of the BANK; (iv) counterparties, correspondent banks, clearing houses, fund other Accounts of the ACCOUNTHOLDER with the BANK. The fees/charges
managers, withholding agents, trade repositories, registrars, exchanges, under items (d), (e), (f) or (g) may either be paid directly by the
credit bureaus and agencies; (v) trustees, counsels, attorneys-in-fact, ACCOUNTHOLDER to the BANK or deducted from the Deposit Account. For
beneficiaries, nominees, intermediaries, or any person acting on the purposes of this Section, the ACCOUNTHOLDER hereby authorizes the
ACCOUNTHOLDER’s behalf; (vi) guarantors, sureties, security providers, or BANK to debit said fees/charges from the Deposit Account or other Accounts
any person acquiring interests in, or assuming the risk on, the Account ; (vii) of the ACCOUNTHOLDER with the BANK.
liquidators, administrators, executors or trustees of the ACCOUNTHOLDER’s
assets; (viii) actual or proposed assignee/s of any rights, interests, liabilities 9. Deposit Items. (a) Cash. Deposits shall be credited to the Deposit Account
and obligations of the BANK in respect of the Account; and (ix) brokers, after verification and count by the BANK. The amount verified shall be deemed
insurers, re-insurers, loyalty program providers, and other providers of to be the correct amount deposited by the ACCOUNTHOLDER. Any
optional products, services and facilities related to the Account. This consent discrepancies noted shall be communicated to the ACCOUNTHOLDER.
shall be valid and effective until termination of the Account, unless required by
law or regulation, or for enforcement of rights and obligations, or other In case there is an arrangement between the BANK and the
compelling reasons. The ACCOUNTHOLDER acknowledges that it has all the ACCOUNTHOLDER for acceptance of deposits without count, the
rights of a data subject under Republic Act 10173 or the Data Privacy Act of ACCOUNTHOLDER hereby assumes the sole responsibility for any
2012 such as the right to object to the processing of ACCOUNTHOLDER’s shortages/overages which may result after the deposit is counted and the total
information and to suspend or withdraw the consent given herein, subject to thereof checked against the amounts indicated on the deposit slip/s. In case
any action which the BANK may deem appropriate in respect of the Account. of shortages/overages, the ACCOUNTHOLDER agrees that it holds the BANK
For further information, the ACCOUNTHOLDER may access the BANK’s Data free and harmless from any liability arising from the no count arrangement and
Privacy Statement at www.pnb.com.ph. authorizes the BANK to correct the entries in the deposit slip/s presented to
reconcile with the actual deposit received and verified by the BANK’s
5. Deposit Account Balance. Except for manifest error, the personnel. This provision shall apply as well to deposits made through the
ACCOUNTHOLDER agrees that the outstanding balance of the Account BANK’s night depository facility, ATM or deposit pick-up services.
appearing in the records of the BANK is accurate and conclusive and shall be
binding upon the ACCOUNTHOLDER. (b) Check Deposits. The BANK reserves the right to reject any check
deposits, including but not limited to, second/multiple-endorsed checks,
6. Maintaining Balance. The ACCOUNTHOLDER shall maintain, at treasury warrants and postal money orders.
all times, the required minimum monthly balance relative to deposit accounts
(the “Deposit Account”). The BANK shall notify the ACCOUNTHOLDER of any Each check/draft/negotiable instrument received by the BANK for deposit or
changes in the required minimum monthly maintaining balance and the collection is subject to actual receipt in cash of the proceeds thereof. In
imposition of service and maintenance fees in case ACCOUNTHOLDER fails receiving check deposits, the BANK obligates itself only as the
to meet the new maintaining balance at least sixty (60) days prior to the ACCOUNTHOLDER’s collecting agent and assumes no responsibility beyond
implementation of said change. the exercise of due care.
Until such time when the deposit item is cleared and the funds are transferred appropriate under the circumstances, including the institution of any suit to
to and in the BANK’s possession, withdrawal against these uncollected funds resolve the conflict or dispute, or the BANK may, in its sole and absolute
shall not be allowed by the BANK. Furthermore, until such receipt, the deposit discretion, release the funds in the Deposit Account to any one of the
item shall be held at the risk of the ACCOUNTHOLDER and the BANK ACCOUNTHOLDERS. In this regard, the ACCCOUNHOLDERS shall hold the
assumes no responsibility beyond the exercise of due care. The BANK will not BANK free and harmless from any and all liabilities, damages, costs and
be liable for default or negligence of its correspondents nor for losses in transit expenses which the BANK, its directors, officers, employees, or
and no correspondent shall be liable except for its negligence. representatives may incur or suffer arising from the freezing of the Deposit
Account or any action taken by the BANK in its discretion.
The BANK reserves the right to charge back any defective or lost item
previously credited to the Deposit Account or to reverse/correct entries that The ACCOUNTHOLDERS hereby certify and declare, under penalties of
were erroneously reflected regardless of the time that has lapsed and whether perjury, that every time a withdrawal/fund transfer/disbursement is made, the
or not the deposit item itself can be returned to the Deposit Account due to other ACCOUNTHOLDER/S is/are still living as of the date and time of such
mistake or technical errors without need of any notice. The withdrawal/fund transfer/disbursement, and the BANK may, at its discretion,
ACCOUNTHOLDER assumes full responsibility for the validity of the deposit rely on such certification and declaration and the ACCOUNTHOLDERS agree
item as well as the correctness and genuineness of endorsement/s thereon. to keep the BANK free and harmless from any liability that may arise as a
result of such reliance.
(c) Loss or Theft of Deposit Item. The BANK shall not be responsible
for any payment it may make on any deposit item prior to its notice of loss/theft In the event of death of any of the ACCOUNTHOLDERS, the BANK will be
of deposit item and such payment shall have the same effects as if made to promptly notified of such death in writing by the surviving ACCOUNTHOLDER/
the ACCOUNTHOLDER personally except in case of patently discernable acts S.
of forgery or irregularity.
14. Joint and Several Account (“OR Account”)
10. Erroneous credit. In addition to the BANK’s rights in Section 9(b), - The
the ACCOUNTHOLDER agrees that the BANK is authorized, without need of ACCOUNTHOLDERS agree with one another and with the BANK that all
notice or consent, to debit any amount erroneously credited to the Account moneys heretofore, now or hereafter deposited by them or any of them to the
arising from the following: (i) errors in deposit or remittance transactions; (ii) credit of the Deposit Account are and shall be received and held by the BANK
cancelled remittance transactions; (iii) remittance or payment transactions with the understanding and upon the condition that said moneys deposited
subject of a stop payment request or for verification; (iv) fraudulent, illegal or without reference to previous ownership shall be the property of the
suspicious transactions; or (v) any circumstance similar to the foregoing. ACCOUNTHOLDERS as solidary owners.

The ACCOUNTHOLDER shall be obligated to keep any amount erroneously The available balance to the credit of the Deposit Account at anytime shall be
credited to the Account separate from his own funds deposited in the Account. subject to withdrawal or other disposal in whole or in part by check or written
It is understood that the ACCOUNTHOLDER shall be deemed to have orders by any of the ACCOUNTHOLDERS, it being understood that the
received such amount in trust for the BANK and shall have the obligation to ACCOUNTHOLDERS agree and authorize the BANK to honor, at its
immediately notify the BANK of such erroneous credit. In case the discretion, (i) any withdrawal, funds transfer, payment instruction, or
ACCOUNTHOLDER has withdrawn the same, the ACCOUNTHOLDER disbursement effected by any of the ACCOUNTHOLDERS through any of the
undertakes to remit and deliver the same to the BANK without need of BANK’s products, services, facilities and channels; or (ii) any assignment or
demand. The encumbrance of the Deposit Account by any of the ACCOUNTHOLDERS as
ACCOUNTHOLDER’s failure to deliver the funds representing erroneous security for any obligation of any or all of the ACCOUNTHOLDERS. For these
credit to his Account shall constitute wilful breach of trust. purposes, the ACCOUNTHOLDERS agree that by such withdrawal, funds
transfer, payment instruction, disbursement, assignment or encumbrance,
11. Accounts of Minors. In case the ACCOUNTHOLDER is a minor, it each ACCOUNTHOLDER irrevocably designates and appoints the other
is agreed that the parent(s), guardian(s) and/or the person(s) exercising ACCOUNTHOLDER/S as agents and the BANK is hereby authorized to act
parental authority over the minor: (i) have read and understood and are bound upon the signature of any one of the ACCOUNTHOLDERS, all without inquiry
by these Terms and Conditions; (ii) have explained to the minor the use and or regard by the BANK with respect to the use or disposition of the funds so
operation of the Deposit Account, products, services, facilities and channels; withdrawn, paid out, disbursed, assigned or encumbered. This designation,
and (iii) undertake to explain to the minor the use and operation of any new appointment and authority shall also include, but not limited to, the following
accounts, products, services, facilities, channels and any enhancements/new acts or documents: (i) pre-termination, termination or closure of the Account;
features thereof, as well as any new terms, conditions and changes thereto. (ii) transfer of all or any part of the balance of the Deposit Account to the
The parent(s), guardian(s) and/or the person(s) exercising parental authority individual account of any of the ACCOUNTHOLDERS with the BANK; (iii)
acknowledge that they have principal and solidary liability with the instruction to change address or requests for statement of account (SOA) or
ACCOUNTHOLDER and, as such, hold the BANK free and harmless and bank certifications or any other instructions concerning the operation of the
indemnified from damages, liabilities, claims, suits and causes of action arising Deposit Account; (iv) Affidavit of Loss and request for replacement of
from the minor’s use and operation of the Deposit passbook, confirmation advice of time deposit, or ATM card; (v) submission of
Account and any of the BANK’s products, services, facilities and channels. a Special Power of Attorney authorizing a third party to withdraw, effect funds
transfer, disburse funds or make any other transaction relating to the Deposit
12. In Trust For (ITF) Accounts. In ITF accounts opened by the Account, or assign or encumber the Deposit Account as security for any
ACCOUNTHOLDER for the benefit of third party/ies (the “Beneficiary/ies”), the obligation; and (vi) instruction to add an ACCOUNTHOLDER or delete an
ACCOUNTHOLDER reserves the right to close, terminate, assign, pledge or ACCOUNTHOLDER from the Deposit Account. Notwithstanding the
encumber the Account without notice to, or the consent of, the Beneficiary/ foregoing, the BANK reserves the right, in its discretion, to require the written
ies. The Beneficiary/ies shall be entitled to the balance of the Deposit Account consent or approval of all ACCOUNTHOLDERS for any such action taken by
in case of the ACCOUNTHOLDER’s death, subject to compliance by the any of the ACCOUNTHOLDERS in connection with the Deposit Account.
Beneficiary/ies with the BANK’s requirements and settlement of taxes due on
the Deposit Account, if any. The ACCOUNTHOLDER/S or each of the ACCOUNTHOLDERS hereby
authorizes the BANK to accept for deposit into the Deposit Account any check
13. Joint Account. Each of the ACCOUNTHOLDERS represents to be payable to any, some or all of the ACCOUNTHOLDERS without need of
of legal age or have the capacity to open a deposit account or enter into legally indorsement by any of the ACCOUNTHOLDERS. The ACCOUNTHOLDERS
binding contracts. hereby hold the BANK, its directors, officers and employees free and
harmless from any claims, liabilities, and causes of action arising out of: (i)
In case of conflicting claims, instructions or representations between or among reliance on the authority given by the ACCOUNTHOLDERS in favor of each
the ACCOUNTHOLDERS, the BANK is hereby authorized to freeze the other in performing the acts herein; and (ii) the BANK’s acceptance of checks
Deposit Account until the ACCOUNTHOLDERS shall have resolved their payable to any of the ACCOUNTHOLDERS for deposit into the Deposit
conflict, or the BANK receives a court order authorizing the release of funds Account in accordance with the authorization herein granted.
to one, some or all ACCOUNTHOLDERS. The BANK shall have the right, but
without any obligation to do so, to take any action it deems necessary and
 The ACCOUNTHOLDERS hereby agree that upon the death of any of the BANK liable for any loss or damage which the ACCOUNTHOLDER may incur
ACCOUNTHOLDERS, the funds in the Deposit Account shall be payable to arising from such refusal.
and collectible by the surviving ACCOUNTHOLDER/S subject to compliance
with the BANK’s requirements and settlement of taxes due on the Deposit 18. Hold-out, Assignment or Encumbrance of Account. In case an
Account, if any. The surviving ACCOUNTHOLDERS hereby hold the BANK ACCOUNTHOLDER is a married individual, whether the Account is a
free and harmless and indemnified from any and all taxes, claims/debts and singlename account or a joint account, the ACCOUNTHOLDER hereby
liabilities arising from or in connection with this survivorship provision. represents and warrants that the ACCOUNTHOLDER’s spouse has given
consent to and has authorized the constitution of a holdout, assignment or any
15. For Joint Account (“AND Account”) - The ACCOUNTHOLDERS form of encumbrance that may be made by the ACCOUNTHOLDER on the
agree with one another and with the BANK that all moneys heretofore, now or Account.
hereafter deposited by them or any of them to the credit of the Account are
and shall be received and held by the BANK with the understanding and upon 19. Dormant Account. The BANK shall notify the ACCOUNTHOLDER,
the condition that said moneys deposited without reference to previous by registered mail at the ACCOUNTHOLDER’s address of record, of the
ownership shall be the property of all ACCOUNTHOLDERS jointly. dormancy of the Deposit Account at least sixty (60) days prior to the date of
dormancy and the possible imposition of dormancy fee in case the Deposit
The available balance to the credit of the Account at anytime shall be subject Account is not updated. A Deposit Account is considered dormant if it remains
to withdrawal or other disposal in whole or in part by check or written orders inactive or without any client-initiated transactions for a period of two (2) years
by the ACCOUNTHOLDERS. for Savings Account and one (1) year for Current Account. Reactivation of
dormant account shall be personally made by the ACCOUNTHOLDER,
The ACCOUNTHOLDERS hereby agree that upon the death of any one of subject to compliance with the BANK’s requirements for such reactivation.
the ACCOUNTHOLDERS, the funds in the Account shall be payable to and
collectible jointly by the surviving ACCOUNTHOLDER/S and the legal heirs 20. Unclaimed Balances. Pursuant to Act 3036, as amended, all
of the deceased ACCOUNTHOLDER upon compliance with the BANK’s unclaimed balances held by the BANK in favor of any person known to be
requirements and the settlement of taxes on the Deposit Account, if any. The dead or who has not made further deposits/withdrawals for a period of ten (10)
surviving ACCOUNTHOLDERS hereby hold the BANK free and harmless years or more shall be transferred to the credit of the Republic of the
and indemnified from any and all taxes, claims/debts and liabilities arising Philippines.
from or in connection with the release of the proceeds of the Account in
accordance with this provision. 21. Bank’s Right to Close Account. The BANK reserves the right to
close the Account at any time without prior notice to the ACCOUNTHOLDER
16. Non-Individual Account. In case of corporate, partnership or any in case: (i) the Account is mishandled. i.e., issuance of unfunded or
non-individual account, the ACCOUNTHOLDER represents and warrants to insufficiently funded check(s) pursuant to Section 36 hereof; (ii) the Account is
the BANK on a continuing basis that the documents and information submitted involved in, or used, or suspected to be used for any suspicious, fraudulent,
and the representations made in the relevant bank forms for account opening criminal, unlawful or money laundering activities; (iii) there was/ were
are up-to-date, complete, true, correct, accurate and that all appropriate and misrepresentation(s) in the opening of the Account; (iv) the
necessary actions have been taken to authorize the execution of documents, ACCOUNTHOLDER fails to provide the BANK additional
instruments and agreements related to the opening of the Account as well as information/document on the Account as may be required by the BANK or by
the availment of products, services, facilities and channels of the BANK. The any applicable laws, rules and regulations, or in support of transactions
ACCOUNTHOLDER hereby acknowledges and agrees that, unless and until thereon; or (v) the BANK perceives, at any time, that it may be exposed to any
the BANK receives notices in writing of any changes, the BANK is authorized financial, legal, reputational or other risk in maintaining the Account. The
to fully rely and act on such information and representations for all purposes BANK is authorized to report the closure of the Account and the reason(s)
without liability and without need of conducting any further verification on the therefore to the Bankers Association of the Philippines or to any central
accuracy of such information and representation. monitoring entity or body established to keep record of and monitor
mishandled accounts if the Account is improperly handled or for
In cases where: (a) there is a claim or dispute, including intra-corporate misrepresentation by the ACCOUNTHOLDER or for any other reasonable or
disputes, relating to the Account; (b) there are conflicting claims or justifiable cause as determined by the BANK.
representations causing or threatening to cause confusion or doubt as to the
ownership of; or manner of operating, the Account; (c) the BANK receives Upon closure of the Account, the BANK shall pay to the ACCOUNTHOLDER
contradictory instructions, written or otherwise, or any instruction not to allow the proceeds via Manager’s Check net of all applicable charges, fees and/ or
signatory/ies to operate the Account; (d) there is an instruction or request by taxes and/or such amounts which shall answer for all outstanding liabilities of
any person, natural or juridical, for the BANK to freeze the Account; or (e) the ACCOUNTHOLDER under any of the products, services and facilities
there arise events or circumstances analogous or similar to any of the availed of by said ACCOUNTHOLDER.
foregoing, the BANK shall have the right, in its sole discretion, but without
any obligation to do so, to freeze the Deposit Account and/or take any 22. Set-off. The BANK is hereby authorized to and may, at any time in
necessary action, including but not limited to, the filing of interpleader suits, its discretion, without notice to the ACCOUNTHOLDERS, charge any Account
any of which acts performed by the BANK are hereby expressly authorized, and/or apply such amount therein as shall be sufficient to pay any and all
confirmed and ratified by the ACCOUNTHOLDER. For this purpose, the obligations of the ACCOUNTHOLDER/S to the BANK or its parent company,
ACCOUNTHOLDER hereby agrees to fully indemnify and hold the BANK, its subsidiaries or affiliates, including loans, interest, penalties, charges and other
directors, officers, employees and representative, free and harmless against receivables from the ACCOUNTHOLDER/S whether or not covered by
any and all liabilities which the BANK, its directors, officers, employees and promissory notes, credit agreements or other evidence of indebtedness. The
agents may incur or suffer in connection with the BANK’s act of freezing the BANK or its parent company, subsidiaries or affiliates shall not thereafter be
Deposit Account or the pursuit of any action which the BANK, at its option, liable for any loss or damage arising from such charge or application of the
considers appropriate including the filing of interpleader suits. Account to the payment of said obligations. The ACCOUNTHOLDER agrees
that this right to set-off applies regardless whether the outstanding obligation
17. Peso Accounts of Non-residents. Non-residents may open a Peso is in a currency different from the currency of the Account applied for set-off,
Deposit Account subject to approval by the BANK and compliance with or is held at a branch in a different jurisdiction, or held by the
applicable laws, rules and regulations. The ACCOUNTHOLDER agrees and ACCOUNTHOLDER jointly with other persons. For purposes of this provision,
undertakes that the Peso Deposit Account can only be funded by Peso the ACCOUNTHOLDER hereby gives the BANK, its parent company,
currency proceeds from sources allowed and supported by documents subsidiaries and affiliates, full power and authority to implement the foregoing
required under pertinent regulations. It is understood that every time the acts, the performance of which are hereby expressly authorized, confirmed
ACCOUNTHOLDER makes or causes a deposit to be made, transfers or and ratified by the ACCOUNTHOLDER. This authorization is coupled with
remits funds to the Peso Deposit Account, the ACCOUNTHOLDER represents interest and shall subsist despite the ACCOUNTHOLDER’s death or
that the funds come from legitimate sources. The BANK reserves the right to incapacity. The BANK, its parent company, subsidiaries and affiliates, are
refuse to accept any deposit, transfer or remittance of funds into the Peso likewise authorized to set-off or withhold as security for any obligation with the
Deposit Account for failure of the ACCOUNTHOLDER to submit the required BANK, its parent company, subsidiaries and affiliates, all monies, properties
documents. For this purpose, the ACCOUNTHOLDER agrees not to hold the or securities of the ACCOUNTHOLDER now in or which may hereafter come
into the possession or under the control of the BANK, whether left with the having authority or right to such disclosure of information, as and when
BANK for safekeeping or otherwise, to sell in any public or private sale any of required by the circumstances. As such, the ACCOUNTHOLDER expressly
such properties or securities of the ACCOUNTHOLDER, and to apply so much waives the ACCOUNTHOLDER’s right under confidentiality laws in the
of the proceeds thereof as will be sufficient to pay such obligations of the Philippines or in other jurisdiction including but not limited to R.A. No. 1405 or
ACCOUNTHOLDER. The Law on Secrecy of Bank Deposits, R.A. No. 6426 or The Foreign Currency
Deposit Act and R.A. No. 8791 or the General Banking Law of 2000, as may
23. Deposit Insurance. Deposit Accounts are insured by the Philippine be amended from time to time, and allow processing, storing, access to and/or
Deposit Insurance Corporation (PDIC) up to a maximum amount of sharing of any information regarding the Account as well as the related
P500,000.00 per ACCOUNTHOLDER or such other amount as may be set by banking products, services, facilities and channels which the
law or PDIC rules and regulations. PDIC shall presume that the name/s ACCOUNTHOLDER has activated, enrolled in or availed of pursuant to these
appearing on the deposit instrument is/are the actual/beneficial owner/s of the Terms and Conditions.
deposit, except as provided herein.
The ACCOUNTHOLDER hereby holds the BANK, its directors, officers,
In case of transfer or break-up of deposits, PDIC shall recognize actual/ employees and other duly authorized representative free and harmless
beneficial ownership of transferees who are qualified relatives of the against any and all liability arising from any loss or damage which the
transferor. Qualified relatives are transferees within the second degree of ACCOUNTHOLDER may incur or suffer as a result of such disclosure. The
consanguinity or affinity of the transferor. The relationship of the transferor and ACCOUNTHOLDER agrees that all particulars, data, information and
the transferee shall be proven by relevant documents such as, but not limited documents provided or submitted to the BANK are complete, accurate and
to, birth certificates and marriage certificates. true to the best of the ACCOUNTHOLDER’s knowledge, and the
ACCOUNTHOLDER shall immediately notify the BANK in writing of any
In case of (a) deposits in the name of, or transfers or break-up of deposits in changes thereto.
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 26. Notice. All communications and notices required to be given to the
transfers/break-up will result in increased deposit insurance coverage, PDIC ACCOUNTHOLDER shall be personally delivered or transmitted by postal or
shall recognize beneficial ownership of the entity or transferee provided that registered mail, courier delivery, telefax, electronic mail, text message,
the deposit account records show the (1) details or information establishing telephone call or any social messaging platform to the ACCOUNTHOLDER at
the right and capacity and the relationship of the entity with the individual/s; or the ACCOUNTHOLDER’s address/email/contact number appearing in the
(2) details or information establishing the validity or effectivity of the deposit Account Opening Form or such other address that may hereafter be given in
transfer; or (3) copy of a board resolution, order of competent government writing by the ACCOUNTHOLDER to the BANK. Except as otherwise specified
body/agency, contract or similar document as required/provided by applicable herein, all notices shall be deemed received by the ACCOUNTHOLDER: (a)
laws. In the absence of any of the foregoing, PDIC shall deem the outstanding if delivered personally or though courier, upon delivery; (b) if sent by postage
deposit maintained for the benefit of the transferor although in the name of the prepaid registered mail, the date five (5) days after posting; (c) if sent by
transferee, subject to consolidation with the other deposits of the transferor. facsimile transmission, upon receipt of confirmation of the facsimile
transmission; or (d) if sent by electronic mail or through text message, phone
PDIC may require additional documents from the ACCOUNTHOLDER to call or any social messaging platform, upon successful transmission of the
ascertain the details of the deposit transfer or the right and capacity of the message based on the record of the BANK.
transferee or the latter’s relationship to the transferor.
27. Offer to Participate in Promos. The ACCOUNTHOLDER hereby
24. Anti-Money Laundering. The Account is further subject to the authorizes the BANK, its parent company, subsidiaries, affiliates, and partner
provisions of Republic Act No. 9160, otherwise known as the “Anti-Money institutions to offer promotional participation, advertisements, surveys or such
Laundering Act of 2001”, including any and all amendments, rules or other similar programs by communicating to the ACCOUNTHOLDER in
regulations pertaining thereto. For this purpose, the BANK and its branches, writing, or by electronic mail, or by facsimile transmission, or by short
agencies and instrumentalities are authorized to disclose such data and messaging service (SMS), or by such other electronic transmission which the
papers, and make inquiries and reports, as required by regulatory agencies, BANK, at its option, considers appropriate and effective or through the BANK
whether in the Philippines or abroad, in connection with Anti-Money channels or any one of them including posting in the BANK’s website.
Laundering regulations without incurring any criminal, civil or administrative
liability. The ACCOUNTHOLDER hereby agrees to keep the BANK, its 28. Cooling off Period. If applicable, the ACCOUNTHOLDER is given
directors, officers and employees, free and harmless from any and all liabilities two (2) banking days from opening an account, making of an investment or
for any action it has taken, or for refraining from taking any action, in placement or availing of other BANK products, facilities and services and
compliance with said law. signing the covering contract or agreement within which to notify the BANK of
the ACCOUNTHOLDER’s intention to cancel or terminate the agreement. The
25. Disclosure of Information. The ACCOUNTHOLDER hereby BANK is hereby authorized to collect reasonable amount of processing and
authorizes the BANK to share and disclose all information, whether administrative fees as a result of such cancellation or termination; provided
personal/sensitive/ privileged or otherwise, as may be updated or amended that, the BANK shall be entitled to recover any loss incurred by the BANK
from time to time, relating to the ACCOUNTHOLDER and/or the Account arising from the cancellation or termination of the contract or agreement.
and/or any of the ACCOUNTHOLDER’s properties or investments with the
BANK, to: (i) government agencies, credit information/investigation 29. Binding Effect. These Terms and Conditions are binding on each
companies, financial institutions, credit bureaus, other banks, credit card and all the ACCOUNTHOLDERS and their respective heirs, executors,
companies, consumer reporting or reference agencies, whether based in the administrators and assigns.
Philippines or in other jurisdiction, for reports of the ACCOUNTHOLDER’s
credit history and account updates including but not limited to past due or 30. Amendments. The BANK reserves the right to add, reverse, modify,
litigation status of accounts, full payments, or settlement of previously reported amend, supplement or cancel, from time to time, in whole or in part, any of the
defaulting accounts; (ii) such bodies/agencies having regulatory authority over accounts, products, services and facilities and these Terms and Conditions.
the BANK, or having regulatory authority or jurisdiction where checks, Any such addition, revision, modification, amendment, supplement or
deposits, withdrawals or fund transfers pass/are cleared/transmitted or cancellation will take effect and are deemed binding on the
delivered; (iii) court of competent jurisdiction or any competent judicial body ACCOUNTHOLDER upon notice in accordance with Section 26 hereof or by
pursuant to a lawful order; (iv) foreign or domestic tax authorities pursuant to: display or advertisement in the BANK premises, or on the BANK’s website,
(a) the US Foreign Account Compliance Act (FATCA) or any similar present automated teller machines (ATMs) screen or any similar platform, or by other
or future foreign or domestic law or regulation on automatic exchange of tax electronic means including short messaging service or similar means of
or financial account information; (b) any intergovernmental agreement of the delivery or by such other methods of communication which the BANK
Republic of the Philippines on automatic exchange of tax or financial account considers appropriate and effective. Upon such notice, all such additions,
information; and (c) any agreement entered into, or to be entered into by the revisions, modifications, amendments, supplements or cancellation shall form
BANK, its subsidiaries, affiliates and agents pursuant to the FATCA or similar an integral part of these Terms and Conditions. The ACCOUNTHOLDER
law or regulation on automatic exchange of tax or financial account likewise agrees to regularly access [the BANK’s website] for any amendment
information; or (v) such other persons or entities the BANK may deem as to these Terms and Conditions.
31. Limitation of Actions. Any claim or action arising from any of the and/or suspend the ATM Card or any service offered in connection therewith
BANK’s deposit products, services or facilities shall be instituted within a at any time without prior notice.
period of ten (10) years from the date of maturity, in case of a time deposit, or
from the date of the last transaction, in case of other deposit products, services 37. Current Account. The ACCOUNTHOLDER shall be responsible for all
and facilities. The ACCOUNTHOLDER acknowledges that failure to file such checks issued from the Deposit Account. The ACCOUNTHOLDER
claim or action within said period shall extinguish any right which the undertakes to observe extraordinary diligence in the custody and use of the
ACCOUNTHOLDER may have arising from such claim or action. checks or checkbooks. The ACCOUNTHOLDER shall assume full
responsibility for any forged, unauthorized and/or altered checks. In such
32. Article 1250 of the Civil Code. The ACCOUNTHOLDER cases, the presumption is that the ACCOUNTHOLDER has been negligent in
acknowledges that Article 1250 of the New Civil Code which states that: “In the custody and/or use of the check/s or checkbook/s.
case of extraordinary inflation or deflation of the currency stipulated should
supervene, the value of the currency at the time of the establishment of the All blank spaces on checks drawn must be properly completed. The BANK
obligation shall be the basis of payment” does not apply to the Account. may dishonor checks if signatures are not in accordance with the specimen(s)
registered with the BANK. Any erasure or alteration of the date of the check,
33. Governing Law. These Terms and Conditions are governed by the name of the payee, amount in words, amount in figures, the drawer’s
Philippine law and rules and regulations, existing or prospective, applicable on signature(s), account name, account number, check number, MICR
the Account, issued by the Bangko Sentral ng Pilipinas (BSP), Philippine characters, regardless of any counter-signature or initials that appear to
Deposit Insurance Corporation (PDIC), Philippine Clearing House Corporation authorize the erasure or alteration will not be honored. In case of erasure or
(PCHC), and such other agencies regulating, monitoring or supervising alteration, the ACCOUNTHOLDER must issue a new check.
banking operations.
A request to close or terminate the Deposit Account shall be effected by the
34. Separability Clause. In the event that any provision of these Terms BANK only after all checks drawn by the ACCOUNTHOLDER against the
and Conditions shall be declared invalid, illegal or unenforceable by competent Deposit Account and unissued checks shall have been accounted for to the
court, the other provisions not affected thereby shall remain valid and satisfaction of the BANK. The ACCOUNTHOLDER shall return to the BANK
enforceable. all unissued checks and shall be liable to the BANK for any damage or liability
which the BANK may incur or suffer by reason of the ACCOUNTHOLDER’s
35. Supplementary Provisions. Provisions pertaining to specific failure to surrender unused checks. In addition to the BANK’s right to close the
products, facilities, services, and channels of the BANK shall likewise be Deposit Account in Section 21 hereof, the ACCOUNTHOLDER hereby
provided in a separate supplementary document and, together with these authorizes the BANK to close the Deposit Account even without prior notice to
Terms and Conditions, shall constitute one integrated document. the ACCOUNTHOLDER upon the occurrence of any of the following events:
(i) issuance of three (3) no sufficient fund (NSF)/late funded checks within a
Deposit Products and Services period of thirty (30) days; (ii) issuance of five (5) NSF/late funded checks within
a period of ninety (90) days; (iii) issuance of NSF checks with any amount
36. Savings Account. (a) Passbook. The Passbook is non-transferable. The grossly disproportionate with the deposit balance of the Deposit Account; (iv)
ACCOUNTHOLDER agrees that the BANK shall not be liable for payments failure to maintain the minimum maintaining balance requirement for at least
made to any person who shall present the passbook issued for the Deposit three (3) consecutive months; (v) overdraft (negative balances) due to service
Account. No entries other than those effected by the Bank shall be recorded charges; or (vi) adverse credit reports of findings regarding the
in the Passbook. The Passbook is issued to assist the ACCOUNTHOLDER in ACCOUNTHOLDER. In the event the Deposit Account is closed for any of the
monitoring transactions and account balance of the Account. The foregoing reasons, the ACCOUNTHOLDER further authorizes the BANK to
ACCOUNTHOLDER acknowledges that since without Passbook transactions report such closure and the reason/s therefore to any credit information entity
are allowed (i.e. through ATM or other BANK Channels), the BANK’s records or body established to keep record of any monitor mishandled accounts.
shall prevail in case of discrepancy on the amount of balance shown in the
Passbook and the BANK’s records. a) Checkbook. Pre-encoded checkbooks are available upon opening of the
Deposit Account. The checkbook ordered will be available for pick-up at the
(b) Automated Teller Machine (ATM) Card. The ACCOUNTHOLDER Maintaining Branch (or delivered to the given address, if requested and subject
acknowledges that the ATM card is and shall remain the property of the BANK to security procedures). The checkbook request will be subject to fee or charge
and must be surrendered to the BANK upon request. The ACCOUNTHOLDER which the ACCOUNTHOLDER authorizes the BANK to debit from the Deposit
must keep the ATM card in a secure place at all times and exercise due Account. In case the checkbook(s) will be picked-up or received by a
caution to prevent its loss, theft or misuse. In case of loss or theft of ATM card, representative, the ACCOUNTHOLDER must submit a letter of authorization
the ACCOUNTHOLDER agrees to immediately report the loss or theft by and acknowledgment that the BANK shall not be liable for any loss or damage
calling the PNB Customer Care Hotline or the BANK’s Branch where the suffered or may be suffered by the ACCOUNTHOLDER arising from the
Account is maintained (the “Maintaining Branch”). ATM cards that are BANK’s release of the checkbook(s) to the ACCOUNTHOLDER’s authorized
captured for no apparent reason in any ATM shall likewise be considered lost representative.
and must likewise be reported promptly. Prior to the BANK’s receipt of any
report of loss or theft, all transactions generated through the use of the ATM b)Statement of Account (SOA). The BANK shall send an itemized SOA
card shall be deemed conclusively binding on and authorized by the (monthly/quarterly) through mail to the ACCOUNTHOLDER’s address on
ACCOUNTHOLDER and the BANK will not held liable for any loss or damage record. The ACCOUNTHOLDER shall promptly notify the BANK in writing of
incurred by the ACCOUNTHOLDER. any change of address, failing which the BANK’s sending of SOA to the
address on record shall be deemed sufficient. In case the ACCOUNTHOLDER
The ACCOUNTHOLDER shall not reveal the Personal Identification Number opts to pick-up the SOA, the ACCOUNTHOLDER has six (6) months from
(PIN) or cause to reveal the PIN to any person under any circumstances. The statement date to claim the SOA from the Maintaining Branch.
ACCOUNTHOLDER shall assume full responsibility for all transactions made
through the use of the ATM card whether or not made with the Except as otherwise provided hereunder or under the separate agreements
ACCOUNTHOLDER’s knowledge or authority. The ACCOUNTHOLDER must covering specific accounts, the ACCOUNTHOLDER shall be deemed to have
notify the BANK of any error or irregularity in ATM transaction/statements accepted the correctness of the entries made therein and/or waived any claims
immediately upon knowledge of such error or irregularity. The BANK may against the BANK if, after the lapse of fifteen (15) days from the date of receipt
require the ACCOUNTHOLDER to submit a written report or complaint on the of such statement, the BANK does not receive any written complaint or notice
erroneous or irregular ATM transaction/statements. The ACCOUNTHOLDER of discrepancy from the ACCOUNTHOLDER.
is bound by the additional provisions contained in the PIN mailer envelope.
Failure on the part of the ACCOUNTHOLDER to pick-up the SOA within six
Use of the ATM Card is subject to revocation and/or repossession upon receipt (6) months from statement date shall authorize the BANK to dispose the SOA
of notice by the BANK of any violation of any of these Terms and Conditions including related document/s such as scanned images of cancelled/
or for any other reason(s) which, in the opinion of the BANK, would prejudice negotiated checks and copies of debit and credit memoranda.
the interest of either or both the ACCOUNTHOLDER and/or the BANK. The
ACCOUNTHOLDER acknowledges that the BANK may withdraw, disable
c) Dishonor and Return of Checks. Return of checks drawn against the processing of the services available in DBS for any reason determined by
insufficient funds (DAIF) or drawn against uncollected deposits (DAUD), or the BANK.
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 The ACCOUNTHOLDER shall accept full responsibility for all transactions
BANK for the clearing of the foreign currency denominated checks. The BANK made through any Digital Banking channel that use the ATM Cardholder and
reserves the right to dishonor and return checks, at its discretion, without prior ATM PIN, or the Username and User Password, with or without the
notification at any time and the ACCOUNTHOLDER agrees that the BANK ACCOUNTHOLDER’s knowledge or authority, and shall accept the BANK’s
shall not incur any liability arising from said dishonor and return. Fees from the record of transaction as conclusive and binding for all purposes.
return and/or dishonor of checks shall be for the account of the
ACCOUNTHOLDER and shall be debited automatically from the Deposit The ACCOUNTHOLDER agrees that the use of the DBS is at the
Account without prior notice. ACCOUNTHOLDER’s own risk and shall assume all risks, errors, omissions
and delays incidental to or arising out of the use of DBS. The
d)Stop Payment. Stop payment request of a check or deposit item shall not ACCOUNTHOLDER shall ensure the correctness of all transaction
be valid unless made in writing using the prescribed form of the BANK and information given and hold the BANK free and harmless from any damages
duly acknowledged as received by the BANK. The stop payment request shall resulting from the BANK’s reliance on the transactional information provided
be subject to applicable fee pursuant to Section 8 and is accepted on the by the
assumption that the check has not been negotiated as of the date and time of ACCOUNTHOLDER.
the stop payment request.
The BANK shall not be obliged to complete financial transactions that are not
Should any lost check be negotiated despite the BANK’s exercise of covered by sufficient funds. Only cleared and withdrawable balances of
reasonable diligence, the ACCOUNTHOLDER agrees to hold the BANK, its enrolled Accounts shall be considered for these transactions. In case of
directors, officers, employees and agents free and harmless from any loss or insufficient funds in the enrolled Account, the request will automatically be
damage arising from such negotiation. cancelled, without need of prior notice. The BANK shall have no obligation or
liability for cancelled transactions due to insufficiency of funds in the enrolled
38. Time Deposit Account. A time deposit may be opened for a Account.
minimum amount and term as determined by the BANK. Upon opening of a
time deposit, the ACCOUNTHOLDER shall be issued a confirmation advice The BANK will not be liable for any losses resulting from circumstances over
which shall no longer be presented upon maturity or pre-termination of the which it has no direct control, including, but not limited to, the failure of
time deposit. In the event the check(s) intended to fund the time deposit is/are electronic or mechanical equipment or communication lines or other
returned, it is understood that the confirmation advice shall be deemed as interconnection problems, severe inclement weather, earthquakes, floods or
cancelled. The ACCOUNTHOLDER acknowledges that the time deposit shall other such events.
be automatically paid and terminated at maturity date and the proceeds
thereof shall be credited to the designated settlement account which shall earn The BANK does not warrant or represent that access to the whole or part of
interest at rate applicable to such deposit account from the date of credit to the DBS, or information and/or functions herein will be provided uninterrupted
the date of actual withdrawal or renewal. In the absence of a settlement or free from errors or unauthorized third party interception or that any identified
account, the ACCOUNTHOLDER acknowledges that the BANK reserves the defect will be corrected, or that there will be no delays, failures, errors,
right to assign a settlement account. In case of pre-termination, applicable omissions, or loss of transmitted information, or that no viruses or other
taxes and charges shall be deducted from the net proceeds of the time deposit contaminating or destructive properties will be transmitted or that no damage
and the ACCOUNTHOLDER hereby authorizes the BANK to debit such taxes will occur to the computer or mobile system of the ACCOUNTHOLDER. The
and charges from the net proceeds. In the event of any discrepancy between ACCOUNTHOLDER understands that account information, details, and/or
the confirmation advice and the BANK’s records, it is understood that the services may not be available during end of day batch processing and/or
BANK’s records shall prevail. In case of renewal, the BANK shall issue a new system maintenance.
confirmation advice.
The BANK, including its directors, stockholders, officers, and agents, shall in
39. Foreign Currency Deposit Account. Withdrawals in foreign no event be liable for any loss or damages arising in connection with the
currency notes are subject to availability of such notes. Fractions of foreign access or use or the inability to access or use the DBS, or reliance on the
currencies may, at the BANK’s option, be paid in pesos. Conversion rates from information contained herein, or for any technical, hardware or software failure
one currency to another will be based on the BANK’s prevailing buying and of any kind, or the interruption, error, defect, omission, delay in operation or
selling rates. The ACCOUNTHOLDER agrees that service fees may be transmission, computer viruses or line or system failure, even if the BANK is
charged for foreign currency cash withdrawals/deposits and authorizes the advised of the possibility of such damages, loss or expenses.
BANK to debit such fees from the Account. The BANK shall pay the
ACCOUNTHOLDER in the currency required by the ACCOUNTHOLDER and/ Availment of the DBS constitutes acceptance of these Terms and Conditions
or such other currency. and subsequent amendments thereof. In case of conflict between these Terms
and Conditions in the Digital Banking Service and the terms and conditions
40. Digital Banking Service (DBS). The ACCOUNTHOLDER who wish governing the relevant transaction/s, product/s, and/or service/s provided
to avail of the BANK’s DBS shall enroll the Account with the Maintaining herein, the latter will prevail. All terms and conditions of the
Branch. The BANK reserves the right to impose additional restrictions on or ACCOUNTHOLDER’s Account with the BANK insofar as not inconsistent
refuse enrolment of certain Accounts to DBS. Upon enrolment to DBS, the herewith shall remain in full force and effect.
ACCOUNTHOLDER will have access to the BANK’s Internet and Mobile
Banking facilities and such other facilities as the BANK may offer from time to 41. Consumer Assistance. The Bank has provided the following channels
time. For joint “OR” Accounts, the ACCOUNTHOLDERS hereby authorize for the ACCOUNTHOLDER to provide feedback in order to continuously
each joint ACCOUNTHOLDER to enroll the Account in DBS and agree with improve the service:
one another that all transactions to be made by any one of them via DBS are
deemed done with the consent and within the lifetime of all co-depositors and 1. Approach our Customer Assistance Officer (CAO) or the Sales and
such transactions are jointly and severally binding on each and every one of ServiceHead (SSH) in the Branch.
them. 2. Call PNB’s 24/7 Customer Care Hotline at +632 573 8888 or
emailcustomercare@pnb.com.ph.
The BANK reserves the right to cancel, terminate, or suspend the use of the
DBS for any reason, including, but not limited to, improper handling, zero The ACCOUNTHOLDER may also refer their concerns to the BSP Financial
account balance, or violation of these Terms and Conditions and those specific Consumer Protection Office at (02) 708-7087 or email
to DBS. The ACCOUNTHOLDER may, at any time, cancel or terminate consumeraffairs@bsp.gov.ph.
access or use of the DBS through a request made to the Maintaining Branch.
The BANK reserves the right to deny, reject or refuse to grant, act on, or
execute a request, instruction, or transaction of the ACCOUNTHOLDER for
NA023 Sept‘18