Terms & Conditions



The Program
PlayEveryday is UnionBank's gamified loyalty program that allows its debit and credit cardholders to collect Play Points from card usage, digital transactions, and other ways defined in the program. Members will be able to move up different ranks and redeem rewards as they collect more Play Points, which they will be able to access through UnionBank Online.

Definition of Terms
  1. PlayEveryday Program – UnionBank's gamified loyalty program that's available only to PlayEveryday debit and credit cardholders.
  2. PlayEveryday Credit Cardholders – cardholders who were approved for the PlayEveryday Credit Card. Cardholders are also called "members".
  3. PlayEveryday Debit Cardholders – cardholders who opened a PlayEveryday Savings Account with a Debit Card. Cardholders are also called "members".
  4. Play Points – points that are given to the customer from card usage, digital transactions, and other ways the program specifies which can be redeemable for rewards items.
  5. Accumulated Play Points – Points accumulated through spend and select digital transactions via UnionBank Online that the member has collected since joining the PlayEveryday program net of valid reversals.
  6. Available Play Points – Available points that the member can use to redeem rewards.
  7. Ranking Up – Movement of a customer’s level from one rank to the next.
  8. Leaderboards – Top 10 customers in a defined category. The category may change from time to time. Only customers who provided their consent shall be shown in the leaderboards. Leaderboards are displayed in the PlayEveryday site and in UnionBank Online.
  9. Rewards Item – Items that are available for redemption, which includes e-gifts, cash back, and annual fee waivers.

Eligibility
Only active and current PlayEveryday Credit Card and Debit Card holders can enjoy the features of the PlayEveryday program. A member is allowed to have only one PlayEveryday Credit Card and one PlayEveryday Debit Card. The customer shall undergo the standard UnionBank's credit application process and account opening process and the Bank has the right to decline the customer.

Profile Setup in UnionBank Online
As UnionBank cardholders, PlayEveryday members have access to standard UnionBank Online functionalities and are subject to its terms and conditions. In order for cardholders to make use of its functionalities, they will have to enroll their card or account to UnionBank Online. UnionBank Online Terms & Conditions can be viewed at www.unionbankph.com/online/terms-and-conditions.

Members of the PlayEveryday program must set up their profile in UnionBank Online. Setting up entails that they enter an alias, select an avatar, nominate a primary card if the member has both PlayEveryday debit and credit cards, and agree to the terms and conditions of the PlayEveryday program. As members of the program, cardholders can view their current rank, level, accumulated points, points left to reach the next rank, leaderboards, and available points in UnionBank Online.

Members will receive e-mail, SMS, and in-app notifications to recognize their achievements throughout the program. Notifications will be communicated to the contact details that the member used to enroll in UnionBank Online.

Program Mechanics

Collecting Play Points
  1. Members get to collect Play Points from their Visa spend and from doing digital transactions via UnionBank Online. The schedule for crediting of Play Points may vary per type of transaction.
    Card Type Visa spend requirement to earn 1 Play Point
    PlayEveryday Debit Card P20 = 1 point
    PlayEveryday Credit Card P10 = 1 point
    Digital Transactions in UnionBank Online Debit Credit
    Download app and enroll PlayEveryday card
    If Debit customer 500 -
    If Credit customer - 500
    Enroll an additional PlayEveryday card
    If existing PlayEveryday Credit Card customer opened a PlayEveryday Debit Card 500 -
    If existing PlayEveryday Debit Card customer opened a PlayEveryday Credit Card - 500
    Goal setting with a minimum Goal target of P30,000
    50% accomplished 100 -
    Goal reached 300 -
    Bills Payment – for each of the first 3 bills payment transactions through UnionBank Online 100 -
    Deposit – one deposit or funds transfer transaction per month with a minimum amount of P10,000 100 -
  2. Members get to collect Play Points from Ranking Up.

    Members can move up the ranks by collecting Play Points. Each time a member reaches the next rank, he or she will be given bonus available points for rewards redemption.
    Rank Rank Point Requirement Bonus Points
    Rookie Default -
    Rising Star 2,000 300
    Celebrity 5,000 1,000
    All Star 10,000 2,000
    Superstar 20,000 5,000
    Hall of Famer 40,000 Unlock Special Feature 1
    Hall of Famer 2 64,000 Unlock Special Feature 2
    Hall of Famer 3 94,000 Unlock Special Feature 3

    Rank point requirements are based on Accumulated Play Points. Rank will not decrease even if points are used to redeem reward items. However, rank can possibly decrease due to reversal of transactions. Note that bonus points earned through promotions and ranking up are not included in accumulated points.

Hall of Famer Exclusive Benefits
Members who have reached the Hall of Famer ranks are entitled to its special features upon reaching each rank.

Leaderboards
  1. Consent to participate in the leaderboards is not a requirement in joining the PlayEveryday program.
  2. Leaderboards shall be found in both UnionBank Online and the Online Microsite of PlayEveryday.
  3. Members will get a chance to be featured in the PlayEveryday Leaderboards if they are one of the top 10 Play Points collectors for the week. Leaderboards are updated every Thursday.
    Leaderboard Description
    Top Card Usage Points collected from transactions made through PlayEveryday Debit or Credit Card such as, but not limited to, purchases and cash advance. Customers who are not current shall be taken out of the list.
    Top Points Collectors Overall points collected from all points-earning transactions
    Top Savers Goals set in UnionBank Online
    Top Big Goal Achievers Points collected from reaching 50% and 100% of Goals in UnionBank Online
  4. UnionBank shall only show those who have provided their consent via UnionBank Online prior to the release of the Leaderboards every Thursday. The cardholder can opt-in or opt-out of participating in the leaderboards via UnionBank Online.
  5. Only the alias of members will be shown in the leaderboards. Members can nominate their alias in UnionBank Online when they set up their PlayEveryday card. Because the leaderboards are revealed to the public, members are advised to refrain from using their full name as alias. There can be no duplicate alias.

Rewards Redemption
  1. Redemption channel shall only be thru UnionBank Online. 
  2. Customers can only redeem rewards not exceeding their Available Rewards Balance.
  3. If Customer has both debit and credit rewards balance, the deduction of points shall be based on the rewards proportion for each card. For example, customer wants to redeem 100 points and he has 800 Available Points from his Credit while 200 from his Debit. The system shall deduct 80% of 800 from Credit while 20% of 200 from his Debit.
  4. For eGift Rewards item, customer shall receive an e-voucher via SMS and Email from our partner vendor upon successful processing of the request. The e-voucher can then be presented to in-store merchants for redemption or can be applied for payments to online merchants. E-vouchers cannot be refunded but changing of e-vouchers to another item can be accommodated on a case to case basis.
  5. Cash Back and Annual Fee Waiver Rewards
    1. Members can avail of the cash back reward item, which they can credit to any of their UnionBank credit card or savings account or send to a recipient with an existing UnionBank credit card or savings account.
    2. For cash back to a recipient, the recipient is responsible for checking and ensuring that the card number or the account number that he/she inputs for cash back is correct. UnionBank will not be liable for any funds credited to a card or account number that belongs to someone else.
    3. Members can also avail of the annual fee waiver reward item, which will be credited to their PlayEveryday credit card or PlayEveryday debit card. Annual fee waiver for PlayEveryday supplementary credit card will be credited to the member’s PlayEveryday primary credit card.
    4. For annual fee waivers, members can avail of a quantity of more than one annual fee waiver but UnionBank will not allow reversals for annual fee waivers claimed after the first one.
  6. UnionBank reserves the right to change the reward items for the Hall of Famer ranks without prior notice to the members.

General Policies
  1. Play Points are non-transferrable.
  2. Members who have both PlayEveryday Credit and Debit Cards shall nominate a primary card through UnionBank Online where the points shall be credited.
  3. Only members who are in active and current status shall be allowed to redeem points and avail of the incentives per rank.
  4. Play points for PlayEveryday credit cardholders accrue in the Principal Cardholder's name only but points may also be earned through supplementary card usage.
  5. Points earned on the Principal Cardholder’s Account are non-transferrable.
  6. Points earned on non-PlayEveryday UnionBank Credit Card or Debit Card accounts under the same Cardholder’s name cannot be used or combined for redemption.
  7. In the case of card conversion from a non-PlayEveryday credit card to a PlayEveryday credit card, the points earned from the non-PlayEveryday credit card will not be counted in the accumulated points but will be counted as available.
  8. Play Points earned shall not expire for as long as the account remains current and active.
  9. Play points earned from spend are computed on the total qualified retail purchases.
  10. Play points earned can only be redeemed for the items viewable in the mobile app.
  11. Play points will be reversed for cancelled or disputed purchases.
  12. UnionBank reserves the right to forfeit the play points if determined that the cardholder has abused or violated the provisions stated in this terms & conditions.
  13. The Bank may at any time vary, modify or amend the terms and conditions of the Program as it may, in its absolute discretion, think fit, and the Cardholder shall be bound by such variations and amendments.
  14. Fraud and abuse relating to the earning or redemption of Rewards may result in forfeiture of Rewards.
  15. Without prejudice to any of the Bank's rights and remedies, the Bank is entitled, at any time, in its absolute discretion and without giving any reason or notice, to terminate the Program or withdraw, cancel or invalidate any reward and CashBack already issued.
  16. The Bank is not liable if it is unable to perform its obligations under these terms and conditions, due directly or indirectly to the failure of any machine or communication system, industrial dispute, war, Act of God, or anything outside the control of the Bank, its agents or any third party. The Bank shall not be responsible for any delay in the transmission to the Bank of evidence of retail purchases by the participating merchants or any other third party.
  17. Submission of the redemption warrants the Cardholder's acceptance of the Terms and Conditions.
  18. Redeemed goods or services are not exchangeable for other goods or services, nor refundable, replaceable or transferable for cash or credit under any circumstances.
  19. The Bank shall not be obliged to recognize or replace any goods or services purchased using the rebates redeemed through the program that are lost, stolen or destroyed.
  20. The Bank shall not make any representation and/or warranty on the Rebates offered under the Program. Furthermore, the Bank shall not in any way be liable to the Cardholder or any third party for any goods, services, benefits, arrangements or other privileges or the quality or performance of such goods, services, benefits, arrangements or other privileges redeemed from/supplied by any partner, service provider, merchant or any third party under/pursuant to the Program, including for any death, injury, loss of or damage to property, or consequential loss or damage of any nature that the Cardholder, and if applicable, any accompany person/s, may or has/have suffered arising from or out of the redemption of any Rebates or other Rewards. The Bank shall not be liable for Cardholders should they seek redress and direct any complaints or comments in respect of such goods, services, benefits, arrangements or other privileges to the respective partner, service provider, merchant or third party.
  21. The Cardholder hereby authorizes the Bank to disclose information regarding himself/herself and his/her Card account(s) to such third parties as the Bank deems necessary for the purposes of the Program
  22. The Bank's records of all matters relating to the Program shall be conclusive and binding on the Cardholder. The Bank is entitled, for any reason and at any time, without liability or prior notice, to suspend the calculation, accrual or redemption of Rebates, to rectify any errors in the calculation, or otherwise adjust such calculation.
  23. The Bank's decision on all matters relating to the Program shall be final and binding on the Cardholder.
  24. All questions or disputes regarding eligibility for the Program or eligibility of Rebates for redemption will be resolved by the Bank at its sole discretion.
  25. By applying for the Card and/or accepting or using the Card, that with respect to all Personal data I provide to the Bank, including those provided by me in the application form and in my profile, and those generated throughout my use of the Card/s and any Card or Bank Program automatically associated with it (such as the PlayEveryday Program) or, if allowed, those which I applied for simultaneously or subsequently, that I have read, understood and fully agree with UnionBank’s Terms and Conditions and the Bank’s Privacy Policy as found in www.unionbankph.com/privacy-security.
  26. UnionBank may, at any time, amend the Program Terms and Conditions stated herein. UnionBank will exert efforts to relay the changes to the member, but if the member does not receive the sent notifications it is his/her duty to keep himself/herself updated with the latest Program Terms and Conditions.

  1. DEFINITION OF TERMS - As used herein, the following definitions will apply:
    1. "Bank", "You", and "Your" shall refer to UnionBank of the Philippines.
    2. "Card Account" means the Credit Card Account opened by the Bank for the purpose of entering all credits and debits and received or incurred by the Primary Cardholder and the Supplementary Cardholder, if any, under these Terms and Conditions.
    3. "Card" means, as appropriate, a Mastercard or Visa Card issued by UnionBank of the Philippines.
    4. "Cardholder" means an individual to whom a Card bearing that individual's name is issued by the Bank and includes the Primary Cardholder and any Supplementary Cardholder. ("I", "Me", "My" and "Myself" shall refer to the Cardholder)
    5. "Card Transaction" means the purchase of goods and/or service, benefits and reservation (including without limitation any reservation made by the Cardholder for air, ship, rail, motor or other transportation or hotel or other lodging or accommodation or other transportation, rental or hire, whether or not utilized by the Cardholder) and/or receiving Cash Advances by the use of the card number or in any other manner including without limitation, mail, telephone or facsimile orders or reservations authorized or made by the Cardholder, regardless of whether a sales slip or Cash Advance form or other voucher or form is signed by the Cardholder.
    6. "Cash Advance" means any amount obtained by use of the Card, the card number, or in any manner authorized by the Cardholder, from the Bank or any other financial institutions for debit to the Card Account.
    7. "Charges" means amount payable by the Cardholder arising from the use of the Card or the card numbers under these Terms and Conditions and includes without limitation all Card Transactions, fees, Interest Charges, Late Payment Charges, additional expenses, damages, legal costs and disbursements, which will be debited to the Card Account and form part of the Current Balance.
    8. "Credit Limit" means the maximum debit balance permitted by the Bank of the Card Account for the Primary Card and the Supplementary Card, if any, and notified to the Primary Cardholder from time to time.
    9. "Statement Balance" or "Total Outstanding Balance" means the total debit balance (inclusive of all Charges which shall be debited to the Card Account) outstanding on the Card Account payable to the Bank according to the Bank's records as of the Statement Date. This may not include unbilled charges such as but not limited to any installment billed as of the statement cut-off date.
    10. "Interest Charges" means amount payable by the Cardholder representing cost for borrowing from or availing of the credit card line.
    11. "Late Payment Charges" means amount payable by the Cardholder representing penalty for not paying card usages and charges on or before the Payment Due Date.
    12. "Merchant Affiliates" means any corporate entity, person or other establishments supplying goods and/or services who accepts the Card as a mode of payment or reservation by the Cardholder.
    13. "Minimum Amount Due" is either Php500 or 5% of the Total Outstanding Balance whichever is higher, in addition to installment amortization/s due for the month and any amount in excess of my credit limit and/or past due amount including system-generated interest and charges.
    14. "Month" means the calendar month.
    15. "Payment Due Date" means the date specified in the Statement of Account by which date, payment of the Current Balance or any part thereof or the Minimum Amount is due to be made to the Bank.
    16. "Posting Date" means the date by which a Card Transaction is posted onto the Card Account.
    17. "Primary Cardholder" means a person other than a Supplementary Cardholder who is issued a Primary Card and for whom the Card Account is first opened by the Bank.
    18. "Statement Date" means the date by which the Statement of Account is generated.
    19. "Statement of Account" means the Bank's monthly or periodic statement sent to the Cardholder showing particulars of the Current Balance payable to the Bank
    20. "Supplementary Cardholder" means the person who has been issued a Supplementary Card.
    21. “Online Application” means having applied for a Unionbank credit card from digital channels such as but not limited to Unionbank’s website.
    22. "Transaction Date" means the date by which a Card Transaction is completed.
    23. Unless the context requires otherwise:
      1. Words denoting one gender shall include all other genders;
      2. Words denoting the singular shall include the plural and vice versa;
      3. Words importing persons shall include a sole proprietor, individual partnership firm, company, corporation or other natural or legal person whatsoever.
  1. THE CARD – The card remains Your sole property. It is not transferable. At Your sole discretion, You may suspend, terminate or cancel my Card privileges in the Philippines and abroad at any time for any reason with or without cause and without need for prior notice to me and You shall be held free and harmless from any loss suffered by me by any reason of the suspension, termination or cancellation. Continued use of my Card in case of termination or non-issuance of replacement Cards shall be deemed as fraudulent. If for any reason my right to use the Card is revoked, all my privileges shall be terminated and my entire obligation shall become due and demandable. You shall be held free and harmless from any liability due to any dispute that may arise from my refusal or failure to replace the card or whatever reason as advised by You. Advice to replace the card maybe in any medium, but not limited to the following: telephone, e-mail, writing and SMS.
  1. CARD DELIVERY – I shall be liable for any card availment/s or usages thereafter as a result of such delivery and hereby hold You free and harmless from any liability whatsoever for delivering my card as authorized herein.
    1. For Online Applications: In choosing to apply online, I agree to personally receive my approved card. The card will only be released by your official courier upon my presentation of a government-issued identification card with picture for proper identification.
    2. For All Other Applications: In choosing my residential address for my card delivery, I fully authorize You or Your official courier to release, in my absence, my approved card to any member of the household upon presentation of an identification card with picture and authorization letter. In choosing Office Address for my card delivery, I fully authorize You or Your official courier to release, in my absence, my approved card to my co-workers, secretaries or to our desk receptionist upon presentation of a government-issued identification card with picture for proper identification.
  1. VALIDITY OF CARD – The card is accepted worldwide and shall remain valid until the last day of the Month indicated thereon unless earlier terminated, voluntarily cancelled or returned by me or I use my replacement card. The card shall be automatically replaced one month before the last day of the month indicated on the latest card. The replacement of the card shall be at your sole discretion. If my card is not replaced, the whole obligation becomes due and demandable.
  1. LOST AND STOLEN CARD – In the event that my Card is lost or stolen, I shall immediately report the loss to You by calling the 24-hour Customer Service Center at telephone number (632) 8418600 if I am in Metro Manila or at Domestic Toll Free number 1-800-1888-2277 outside Metro Manila or at Universal Toll Free number IAC+800-8277-2273 (USA, NETHERLANDS, SPAIN, SWITZERLAND, MALAYSIA, AUSTRALIA, SINGAPORE, JAPAN, KOREA-KOREATEL, KOREAL-ONSE, ISRAEL) outside the Philippines. The Lost Card Protection feature absolves me from any financial liability in case the Card is used for fraudulent purposes but only from the time the loss was reported to the Bank. You can charge me a Lost Card Replacement Fee of Php400.00 to cover the processing of the replacement card.
  1. STATEMENT OF ACCOUNT – You shall give me a monthly Statement of Account enumerating my outstanding obligations. In case I do not receive the said Statement, I shall immediately inform you thereof. The Bank shall charge me a Statement of Account Reprinting fee of Php300.00 per statement. In the event of any error appearing in my Statement of Account, I hereby agree to notify You of said error immediately and in writing. If no error is reported within thirty (30) calendar days from Statement Date, I agree and confirm that you can conclusively consider the Statement of Account as true and correct. The Statement of Account shall form an integral part of this Agreement.

    If I choose to have my Statement of Account sent via e-mail to my duly designated e-mail address, I will hold myself responsible for its confidentiality. I will likewise hold the Bank free and harmless from any liability from any unauthorized access or viewing of my Statement of Account to my given e-mail address. For this purpose, the Bank's advice that they sent my Statement of Account via e-mail as shown in its e-mail confirmation registry shall be final and conclusive on me, and I agree not to dispute the receipt of my Statement of Account sent by the Bank via e-mail at my request.

    In the event that I intend to dispute a transaction/s in my Statement of Account, I hereby agree to notify the Bank immediately in writing within thirty (30) calendar days from my Statement Date. Should my dispute require the retrieval of original documents from the Bank, the Bank can charge me a Retrieval Fee of Php200 per transaction slip in the event that my dispute is invalid.
  1. CREDIT LIMIT – You shall have the sole discretion to determine the amount of my Credit Limit. I will be given a Credit Limit expressed in local currency (Philippine Peso), inclusive of Cash Advance limit, which will be my maximum allowable outstanding balance at any given time. My Credit Limit will be shared by all my Supplementary Cardholder/s. I hereby agree that the Bank reserves the right to approve or deny authorization if I exceed my approved Credit Limit. In addition, you will automatically charge me with an Overlimit Fee if you authorize my transaction or if overlimit is caused by system-generated interest and charges from my balances. The excesses may be brought about by a retail transaction, Cash Advance or accumulated interest/late charges billed on my Card Account. The amount exceeding my Credit Limit shall become due and demandable without prior notice and the credit privileges shall be suspended immediately without prior notice pending full settlement thereof.

    You may reduce my Credit Limit and Cash Advance limit and I will be duly notified of such reduction prior to its implementation. Should the outstanding balance exceed the reduced credit limit, the excess shall become immediately due and demandable without the need of further notice or advice.
  1. CUSTOMER SERVICING – I understood that by using the Bank's 24-hour phone facility in relation to my Card Account/s, the Bank may, at its sole option and discretion, tape or otherwise record all my telephone instructions. I likewise understand and agree that such taped or recorded instructions may be used by the Bank against me or any third party, for any purpose particularly, as evidence in any proceeding, judicial or administrative. Furthermore, I authorize the Bank to communicate with me through electronic means, included but not limited to Short Messages (SMS), at any permissible time under government rules and regulations for whatever purpose related to my Card Account. I allow the Bank to notify me electronically, included but not limited to Short Message Service (SMS), using the mobile number and/or electronic address shown in the Bank's record at any permissible time under government rules and regulations. Moreover, I shall hold Myself responsible for the electronic notifications the Bank sends me. As such, I hereby declare the Bank free and harmless from any liability if the information contained in the electronic notification is, by any means, accessed by any person other than myself.
  1. MERCHANT AFFILIATES – I will not hold You responsible if my Card is not honored by any Mastercard/Visa-affiliated merchant for any reason whatsoever. I will hold You free and harmless from any claim for damages as a result of the failure of any Mastercard/Visa-affiliated merchant to honor my Card. Furthermore, I will not hold You responsible for any defective product or service purchased through the Card. The existence of a claim or dispute with a Mastercard/Visa-affiliated merchant shall not relieve me of my obligation to pay any and all charges which I incurred through the use of my Card.
  1. LIMITATIONS – I hereby agree not to use my Card for the purchase of items/goods the importation of which into the Philippines of which is subject to the provisions of BSP Circular No. 1389 and all other circulars, laws, rules and regulations pertaining to importation. Likewise, I hereby agree that the proceeds of my Cash Advance availments abroad shall not be used for foreign investments or the payment of foreign loans in violation of BSP Circular No. 1353.
  1. SUPPLEMENTARY CARDS – If a Supplementary Card is issued upon my request, I shall be unconditionally liable (as primary obligor and not merely as surety) for all the charges made on the said Card including but not limited to interest and non-refundable fees and other charges which shall be promptly and fully paid by me. Should I request for the cancellation of my Supplementary Card, I agree and bind myself to pay and be liable for purchases made through Card even after the request for cancellation thereof and until such time that said Card shall have been surrendered by me to the Bank, thus preventing its effective use.
  1. ASSIGNMENT AND WAIVER – I hereby agree that the Bank may assign, discount or otherwise transfer part or all its rights and/or obligations under the Card without the need to notify or seek my consent.
  1. DISCLOSURE – You may at all times acquire, exchange and/or release information obtained from my Card Account to any third party and I hereby hold the Bank free and harmless from any liability that may arise from such disclosure. Likewise, in the event that my account becomes delinquent or past due, you shall inform me in writing such referral to a collection agency, or the transfer of my account/case from one collection agency to another, at least seven (7) days prior to the endorsement of my account/case. The notice shall include the full name of the collection agency and its contact details. Furthermore, I authorize the bank to investigate the information provided by me from whatever sources it may consider appropriate. I understand that falsifying any of the information is sufficient ground for legal action and the cancellation of my application.
  1. CONSENT FOR PROCESSING AND SHARING OF PERSONAL DATA/INFORMATION - I hereby authorize and consent to the processing, sharing and/or transferring by the Bank of my Personal Data as this term is defined under the Data Privacy Act and its Implementing Rules and Regulations ("DPA IRR") and all other issuances of the National Privacy Commission (NPC), or otherwise, relating to my account/s to any of the following for any of the specified purposes which in all cases are in compliance with or pursuant to the Bank's legal or contractual obligations: (i) government regulatory agencies, credit information/investigation companies, financial institutions, credit bureaus, other banks, credit card companies, loyalty program partners, consumer reporting or reference agencies such as Credit Card Association of the Philippines, Bankers Association of the Philippines, Credit Information Corp., and the Transunion Credit Bureau for the purpose of credit investigation, consumer reporting, or for reports of my credit history and account updates; (ii) third persons, correspondent banks, service providers and entities as the Bank deems necessary, to enable the Bank to service my account/s and to provide all the existing features of my account/s, the Bank products, services, facilities and channels, and any future enhancements thereto or to assist the Bank in the processing of my data, including its collection, recording, organization, storage, management, protection, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or destruction; (iii) third parties engaged by the Bank or by its subsidiaries or affiliates for the purpose of direct/indirect marketing to offer selected products and services which may interest me unless specifically instructed otherwise in writing; (iv) insurers, insurance brokers, or providers of deposit or credit protection or protection against all kinds of risks; or (v) regulatory authorities when such other persons or entities the Bank may deem as having authority or right to such disclosure of information as in the case of regulatory agencies, governmental or otherwise, which have required such disclosure from the Bank and when the circumstance so warrant.

    I understand that Personal Data/Information refers to any information, whether recorded in a material form or not, from which my identity is apparent or can be rea     sonably and directly ascertained by the entity holding the information, or when put together with other information would directly and certainly identify me. I am fully aware that the Bank collects my personal information from any of the following sources: 1) Personal Information Sheet or other form duly accomplished by me as requested by the Bank; 2) information collected about me when I contact the Bank or the Bank contacts me through the hotline, via email, mobile applications or services, online platforms and otherwise; and) information collected about me from other commercially available sources or recorded communication.

    I authorize the Bank and/or its authorized representative to, when deemed necessary or relevant by the Bank, (a) pursuant to BSP Circular No. 472 Series of 2005 as implemented by BIR Revenue Regulation RR-4-2005, conduct random verification with the Bureau of Internal Revenue in order to establish authenticity of the Income Tax Returns (ITR), accompanying financial statements and such other documents/information/data submitted by me, and/or (b) obtain or disclose such information regarding me or the loan/credit facilities applied for hereunder to any party as the Bank may deem necessary or as may be required or allowed by applicable laws, rules and regulations.

    I authorize 1) the regular submission and disclosure of my basic credit data (as defined under Republic Act No. 9510 and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof for purposes of including said basic credit data in a centralized credit information system as mandated by law; and 2) the sharing of my basic credit data with Accessing Entities as defined in Republic Act No. 9510 and its Implementing Rules and Regulations authorized by the CIC, and credit reporting agencies duly accredited by the CIC.

    I am aware that my personal information is collected and shared for purposes of providing the service, product and/or facility I have applied for or agreed to obtain from the Bank, or for purposes of complying with relevant government or legal mandate or requirement, I hereby consent to the disclosure required by such product, service of facility to the enumerated third parties above and further authorize the Bank, its officers, employees or representatives and third parties as enumerated above, to obtain verify and review the information that I have provided and to use and process the same in evaluating my application/s to avail of the Bank’s products and/or services, which include a broad range of credit, deposit and other financial products. I likewise authorize the collection of my personal, use and processing, directly by the Bank or through its authorized third party service providers, business partners, consultants or advisers, which have satisfied the Bank’s requirements of corporate legal, information security, and data privacy, to either improve the Bank's product or service to me or the public in general or to market any other product, service or facility of the Bank which the Bank may determine to be of interest to me.

    I agree that my authorization and consent as provided herein has been executed freely, voluntarily and with full knowledge of its consequences. It is intended to be the consent and/or permission required under the DPA IRR, Republic Act No. 1405 or the Bank Secrecy Law and all other relevant laws for the purposes specified above. It is valid as an agreement signed by me and shall have continued effect throughout the duration of my relationship with the Bank and/or existence of my account(s), and/or until the expiration of the retention limit set by laws and regulations, and/or the period set until the destruction or disposal of records as mandated by relevant laws, unless I withdraw such authorization and consent in writing. I hereby render the Bank, its officers, employees and representatives free and harmless from any and all liabilities arising from the above use and disclosure of my information.

    I certify that the information I have provided in the Personal Information Sheet (PIS) or other form or document as required by the Bank is true, correct and complete and I agree to immediately and/or periodically update the same should there be any change, mistake or inaccuracy thereon. I fully understand that said information may be used by the Bank to provide the service, product or facility I have applied for or agreed to obtain from the Bank. I fully understand that the contact information I have provided shall be used for all correspondences between me and the Bank unless I notify and promptly advise the Bank in writing of any change on said contact and other personal information. I am aware that I can request a copy of my personal information I have provided to the Bank and that for any question on the Bank’s Privacy Policy, I can contact the Bank through (02) 8418600, Domestic Toll Free (PLDT) 1-800-1888-2277, Universal Toll Free (IAC)+8008277-2273 (USA, Netherlands, Spain, Switzerland, Malaysia, Australia, Singapore, Japan, Korea-Koreatel, Koreal-Onse, Israel), Email: customer.service@unionbankph.com.

    I acknowledge that I have read, understood and fully agree with the Bank’s Privacy Policy.

    I acknowledge that the Bank has in place and implements technical and organizational measures to ensure data security in the collection, storage, and use of my personal information.

    I allow the Bank to keep my personal information only for as long as it is necessary: a) for the fulfillment of the declared, specified, and legitimate purposes provided above, or when the processing relevant to the purposes has been terminated; or b) for the establishment, exercise or defense of legal claims; or c) for legitimate business purposes, which shall be in accordance with the standards of the banking industry.

    I authorize the Bank to dispose my personal information in a secure manner in order to prevent further processing, unauthorized access, or disclosure to any other party.

    I authorize the Bank or any of its authorized representatives to share my personal data with Cebu Air, Inc. to facilitate enrollment and points crediting to the GetGo Program in the event that my application is approved and I fully understand that said information may be used by the Bank to provide the service and/or product I have applied for from the Bank. In case of any inquiries and concerns on the processing of my personal information, I may contact the Data Protection Officer through dpo@unionbankph.com

    By applying for the Card and/or accepting or using the Card, that with respect to all Personal data I provide to the Bank, including those provided by me in the application form and in my profile, and those generated throughout my use of the Card/s and any Card or Bank Program automatically associated with it or, if allowed, which I applied for simultaneously or subsequently, that I have read, understood and fully agree with UnionBank’s Terms and Conditions and the Bank’s Privacy Policy as found in https://www.unionbankph.com/privacy-security. By applying for the PlayEveryday credit card, I have read, understood and fully agree with the PlayEveryday Program Terms & Conditions as found in playeveryday.unionbankph.com/terms-and-conditions
  1. CHANGE OF TELEPHONE NUMBER/S, ADDRESS AND OTHER CONTACT DETAILS – I shall immediately notify You of any change in my residence, office address number/s (both landlines and mobile number) and email address. Notices sent to my mailing address of record shall be binding even if I did not receive the same, should I fail to notify You of my new address. In case my chosen mailing address is not accessible through postal mail or delivery, You have the option to use my alternate addresses. Under Republic Act 8484, I am hereby required to notify the Bank of any change in the place of my employment, business, residence or contact numbers.

  2. CHANGE OF STATUS – I will notify You any change in my status and submit your required documents pertaining to my change in status.
  1. TERMINATION – I may at any time notify the Bank of my intention to cancel my Card Account and terminate the use of my Card and all Supplementary Cards, by giving a notice in writing via regular mail, postal mail, email, facsimile or via telephone. My account shall be cancelled only after full payments of all fees, charges and liabilities outstanding on the card amount incurred by the use of the Card but not yet reflected in the Statement of Account. I and/or my estate shall be responsible for settling off outstanding balances on the Card and shall keep the Bank indemnified for all costs (including legal fees and Charges) and expenses incurred in recovering such outstanding balances. On the other hand, You may at any time and without prior notice to me cancel and/or terminate my Card Account and/or its privileges at any time and all Supplementary Cards, for whatever reason including without limitation, default, non-payment, delinquency, misrepresentation, fraudulent use and other similar circumstances. Upon such recall, I shall immediately settle in full my outstanding liabilities to You. My Card Account shall be deemed closed only after full payment of my liabilities. You shall not be liable to refund to me the annual membership fee or any part thereof in the event of termination of my Card Account.
    1. RIGHT TO SET-OFF. Upon termination of my Card Account, You shall have the right at your sole option, and I fully authorize You, to apply at any time to the payment of any and all of my outstanding obligations under the Card Account, whether direct or contingent, whether now due or to become due, or whether previously, presently, or subsequently incurred, any fund belonging to me now or hereafter on deposit with You, notwithstanding that my said deposit/placement has matured or not.
  1. JOINING AND ANNUAL FEES – I shall pay You a joining fee and an annual membership fee, depending on the card type You issue to me, as may be fixed by You from time to time. An annual membership fee shall continue to be billed to me as long as my Card Account is active. All paid fees are non reimbursable even if the Card privileges have been cancelled or terminated.
  1. CASH ADVANCE – All Cash Advances which I make through the use of the Card, whether via over-the-counter or thru an automated teller machine (ATM), shall be subject to an interest rate of 3.5% per month (42% per annum) computed from transaction date until full settlement of the amount, and a service fee per availment of 6.0% of the transaction amount or Php300.00 whichever is higher. For ATM transactions, certain banks – local and overseas, charge an access fee for cash withdrawals. The amount of access fee may vary depending on the ATM network (local or overseas) and shall form part of the cash advance amount. This additional fee will be charged to my card account. For over-the-counter transactions, an additional transaction fee of Php500.00 shall be charged on top of the service fee. The Bank has the option to set a cash advance limit and a daily cash limit for all Cash Advances. ATM Cash Advances and corresponding interest/service charges and transaction fees shall be for my Card Account whether the Card may have been lost and used by another person unless the Card was reported lost. The Lost Card Protection will apply. The Bank reserves the right to issue cash advance PIN to qualified cardholders upon their request The Cardholder or supplementary members shall be provided with a confidential personal identification number (PIN) which must be kept confidential and shall not be disclosed to any person.
  1. PAYMENT OF CHARGES AND REVOCATION/SUSPENSION OF CARD PRIVILEGES – I agree to pay You all my card usages and charges on or before the Payment Due Date stated in the Statement of Account. If the Payment Due Date falls on a Saturday, Sunday or Holiday, the Payment Due automatically becomes the last working day prior to the scheduled Payment Due Date. I understand that if I pay in check, said check should be cleared on or before payment Due Date for me not to incur interest and late charges. I am aware that Regional clearing checks or Out-of-town checks are not acceptable mode of payment. If my check payment is returned by the Bank for whatever reason, I shall pay the Bank a fee of Php 1,000 per returned check. I shall have the option to pay: (i) a minimum amount of either (a) Php500.00 or 5% of my Total Outstanding Balance, whichever is higher, plus any amount in excess of my Credit Limit or past due amounts; (ii) a maximum amount equivalent to the full amount of my Total Oustanding Balance or (iii) an amount in between. I shall also pay the Bank a monthly installment amortization (if applicable) for the 'Light Installment Plan" (0% and Regular Installment) that I transacted with your merchants directly or through installment plans directly offered by the Bank to me. In addition to interest charges, I shall be liable to pay (a) a Late Payment Charge of Php750.00; (b) an Overlimit Fee of Php500.00; and (c) a Certification Fee of Php100.00 per Certification Letter. In case of payment default of any of the foregoing obligations, or in case of I pay You below the required minimum amount due, the Bank reserves the right to revoke or suspend my card privileges and to demand full settlement of my obligation.

  2. INTEREST CALCULATIONS – At every billing cycle, I have the option to pay the outstanding balance in full, the Minimum Amount Due or any amount in between. No interest charges will be imposed if I pay the billed amount in full on or before the Payment Due Date. However, if I do not pay my outstanding balance in full, I am considered to have borrowed from or availed of my credit line and I will be billed an interest charge of 3.5% per month (42% per annum). In this case, the interest charge shall cover the Average Daily Balance (ADB) of individual transactions from previous statement computed from posting dates to the current statement cut-off date, plus interest on all transactions in the current billing cycle computed from posting dates to current statement cut-off date, less interest credit (based on 3.5% monthly rate) on payments computed from posting dates to statement cut-off date. I understand that in addition to the applicable service fee, any cash advance I shall avail will bear interest from the date of availment to the date of full settlement at a rate specified by You. Any interest charge incurred from 90 days and above the Payment Due Date will have a separate computation. I agree to pay the Bank interest on my obligation at a per annum rate determined and subject to change from time to time by the Bank and advised through my monthly Statement of Amount.
  1. OTHER FEES – I agree to pay such other fees relating but not limited to processing of cash payments, use or maintenance of the card, additional features or privileges that may be added to the Card, that may be imposed by the Bank as maybe required or warranted under the circumstances as determined by the Bank, upon notice to the Cardholder. I understand that the amount of said fees may be revised from time to time as the Bank may deem necessary. I agree to pay and/or shoulder the applicable Value Added Tax (VAT) or any other relevant tax as may be imposed, arising from or connected with the credit card transactions contemplated herein.
  1. LIABILITY OF THE CARDHOLDER – I assume full responsibility for all charges incurred through the use of my Card including but not limited to the interest, all non-refundable fees and the full annual membership fee, and other charges including installments, whether made in the Philippines or abroad. All charges made in currencies other than Philippine Pesos shall automatically be converted to the billing currency (Philippine Pesos) on posting date at the prevailing exchange rate selected by Mastercard or Visa International from the range of rates available in the wholesale currency markets for the applicable Processing Date, which rate may vary from the rate Mastercard or Visa International itself receives; or the government-mandated rate in effect for the applicable Processing Date plus a 3% fee for Classic and Gold Cards and 2% Fee for Platinum Cards will be added covering the cost of processing transactions in foreign currencies, which amount represents my payment to You for Your payment on my behalf of the foreign currency necessary to discharge the amount/s due to foreign Merchant Affiliate/s. The sales/charge slips which I sign each and every time a purchase is made through the use of the Card shall constitute and be considered and be construed by You as the written Application required by BSP Circular No. 1389 to enable me to purchase the foreign exchange necessary for all my non-trade Card Transactions using the Card. Also by signing the Sales/Installment Slip, I agree to be bound by the Terms and Conditions of the UnionBank Installment Plan which I confirm to have read and fully understood.

    Furthermore, in case I shall have more than one (1) credit card account with You, the default in one shall automatically be considered as a default in the other card account/s. I hereby give a general lien upon, and/or right of set-off, and/or right to hold and apply to the unpaid card obligation/s any and all deposit account/s or funds, or properties in your bank's possession or control, which I may have now or anytime hereinafter with your bank or any of its branches, subsidiaries or affiliates.
  1. TABLE OF FEES



  1. AMENDMENT – You have the right to change, alter, revise, or modify this Agreement anytime and I will be notified of such changes. It is understood that I accept the changes, alterations, revisions or modifications if I continue to keep and use the Card notwithstanding the lapse of seven (7) days from my receipt of such notification.
  1. SEPARABILITY CLAUSE – In case any portion of this Agreement is declared invalid or unenforceable, the position not otherwise affected shall remain valid and binding.
  1. BINDING EFFECT – I hereby confirm that in addition to the foregoing Terms and Conditions, I unconditionally agree to be bound by all laws, rules, regulations, terms and conditions, and official issuances applicable on the matter, relating to my card and its features, benefits and programs, now existing or which may hereinafter be enacted, issued or enforced. All the Terms and Conditions herein stated have been accepted, read and understood by me as evidenced by my use of the card or the affixing of my signature on the credit card application form, Card and/or charge/sales slip.
  1. LIMITATION OF, AND EXCLUSIONS FROM, LIABILITY – In any action arising from this Agreement or any incident thereto which I or other party may file against You, Your liability shall not exceed One Thousand Pesos (Php 1,000.00) in Philippine currency or the actual damages proven whichever is lesser. The Bank shall be under no liability to me in respect of any loss or damage arising directly or indirectly from:
    1. Any loss or damage howsoever incurred or suffered by me by reason of Your refusal or the refusal of other financial institutions or third parties, to allow a Card Transaction or to accept the Card or the PIN or to provide Cash Advance up to the Credit Limit or at all;
    2. Refusal of any merchant Affiliate of member institution of Mastercard or VISA International to honor the Card;
    3. Any defect or deficiency in the goods or services supplied to me by any Merchant Affiliate or, where applicable, for any breach or non-performance by a Merchant Affiliate or a Card Transaction;
    4. Malfunction of any ATM or disruption of communication systems;
    5. Exercise by You of Your right to demand and procure the surrender of the Card prior to its expiry date, whether such demand and surrender are made and/or procured by You or by any other person or ATM.
    6. Exercise of Your right to terminate any Card or the Card Account pursuant to the Termination Clause hereof.
    7. Any injury to my credit character and reputation rising from the repossession of the card, any request or demand for the surrender of the Card, or the refusal of any person to honor or accept the Card;
    8. Any misstatement, misrepresentation, error or omission in my Statement of Account;
    9. Any dispute between myself and any Merchant Affiliate or financial institution or any other person. My liability to You shall not be adversely affected by any such dispute or by any counterclaim or right of set-off which I may have against such Merchant Affiliate or financial institution or other person.
    10. Any loss or damage that may be incurred or suffered by me due to the acts or omissions of service providers engaged by You.
  1. ATTORNEY'S FEES AND VENUE – If You need to refer my case to a collection agency or through an Attorney-at-Law, I shall be liable to pay the cost of collection and/or attorney’s fee equivalent to 25% of the unpaid balance and the cost of litigation and judicial cost as applicable. You shall inform me in writing of such referral to a collection agency, or the transfer of my account/case from one collection agency to another, at least seven (7) days prior to the actual endorsement of my account/case. The notice shall include the full name of the collection agency and its contact details. The law of the Republic of the Philippines shall govern this Agreement and the exclusive venue of all suits to enforce this Agreement shall be in the proper courts in Pasig City, Philippines to the exclusion of any other venue.

 

Updated as of September 2018

 

These Terms and Conditions shall form part of the specific terms and conditions of UnionBank’s (the “Bank”) individual products and services and such other rules and regulations governing the account/s with the Bank and shall be applicable to any future account that may be opened with the Bank.


Provision for deposit account

Opening of Account
A Deposit Account may be opened by an individual or by two (2) or more persons jointly, who is/are free from any legal disability. The account may also be opened by a juridical entity, in the name of a corporation, partnership, association, or other juridical entities provided that all documents/ requirements are submitted and complied with.

The opening and maintenance of deposit accounts shall be at the sole discretion of the Bank upon compliance with and submission of all documentary / account opening / maintenance requirements of the Bank, and conducting Customer Due Diligence as part of Know your Customer (KYC). The branch/unit where the account was opened serves as the maintaining branch/unit. Unless allowed under existing laws and regulations, the deposit accounts shall be maintained only in the depositor/s’ true and full name.

Authenticity of Documents
The customer shall ensure the validity, correctness and genuineness of information reflected on all documents submitted to the Bank.

Signature Cards
Complete account opening forms, containing the specimen signature shall be submitted to complete account opening. A minimum of 3 specimen signatures are required per customer. For personal accounts, the account holder’s specimen signature is required. For juridical entities, specimen signatures of authorized signatories, with authentication from the corporate secretary are required. Specimen signatures are updated by the Bank every five (5) years or sooner when required by the Bank.

Changes in specimen signatures and authorized signatories shall be allowed only upon receipt of a written request from the account holder in the form acceptable to the Bank. For joint accounts, the written request should be signed by all the depositors. For corporations, associations, clubs and other unincorporated organizations, the written request must be supported by a board resolution. For partnerships, the written request must be signed by all partners.

Deposit Acceptance
Deposits may be made in the form of cash, check, or fund transfers. Cash and check deposits will only be credited after verification by the Bank. Checks will be accepted on collection basis only and may be withdrawn only after the prescribed clearing period under existing BSP/PCHC or international clearing house rules and regulations.

In receiving checks and other items for deposit, the Bank acts only as the collecting agent of the account holder and assumes no responsibility beyond care in selecting correspondents. The account holder assumes 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:
  • existing BSP/Philippine Clearing House Corporation (PCHC) rules and regulations; and/or
  • clearing or collection arrangements made with correspondent banks, in case of checks denominated in foreign currency.
The Bank is authorized to charge back any spurious, defective, erroneous or lost item credited to the deposit account regardless of the time that has elapsed, whether or not the item itself can be returned.

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, and shall prevail over the figures/amounts indicated in the deposit slip.

The Bank will notify the account holder of any discrepancy.

Second endorsed checks, post-dated and stale checks are not acceptable for deposit. Any alterations or erasures made on any check deposited regardless of any signature or initials that appear to indicate authorization of the alteration or erasure will make the check unacceptable for clearing with the PCHC.

The Bank reserves the right to refuse acceptance of deposits if it resolves that acceptance of deposits would expose itself to any risks.

Deposit and/or payment for bills authorized to be paid through the Bank via UnionBank ATM shall be credited to the corresponding accounts only after and in accordance with the results of the verification by two (2) bank personnel. The amount counted by these two (2) bank personnel from the customer's envelope coursed thru the machine, shall be deemed to be the correct amount deposited. Discrepancies noted will be communicated to the cardholder within three (3) banking days from the date deposit/payment was made.

The Bank records shall be conclusive on the amount of the deposit for credit to customer's accounts despite discrepancies.

The Bank shall not be responsible for resulting entries based on erroneous or illegible account number on the deposit slip.

The Bank reserves the right to debit the account holder's account for any amount previously credited, if uncollected.

Cash Acceptance Machine (CAM)
The Cash Acceptance Machine (CAM) is a self-service terminal that allows the customer to make cash deposits and payments.

Deposits and/or payments for bills authorized to be paid through CAM shall be credited to the corresponding accounts only after electronic verification. All successful transactions are issued a receipt, confirming the transaction.

The Bank’s records shall be conclusive on the amount of the deposit for credit to customer's accounts. It is the customer’s responsibility to ensure that the information entered in the system are correct and notes deposited are authentic.

For Foreign Currency Deposits
Deposits may be in the form of notes, checks, drafts, and telegraphic transfers via the Philippine Domestic Dollar Transfer System (PDDTS) and/or SWIFT acceptable to the Bank.

The account holder warrants that the Foreign Currency Deposits (FCD):
  • shall not be funded by foreign currency required to be sold and/or surrendered under the rules and regulations of the BSP then in effect; and
  • shall be funded purely by foreign currency receipts eligible for deposit under the rules and regulations of the BSP then in effect. The account holder holds the Bank free and harmless from liability for any deposits made in violation of any law, rules or circulars.
Checks denominated in foreign currency received as deposits and sent to a foreign correspondent bank for collection/ clearing shall be governed by the following special conditions:
  • the Bank is acting only as collection agent;
  • the Bank shall not be liable for any loss, damage, or delay due to causes beyond its control, acts of God, civil disturbances, mail delays / fraud, equipment/systems failures, or other events of force majeure; and
  • the Bank shall not be liable for any claim for non-payment of any item unless the non-payment results from the Bank’s duly established and proven gross negligence or willful misconduct.
Check deposits previously presented and subsequently returned by the drawee banks cannot be re-deposited. The Bank reserves the right to charge clearing and/or collection charges for checks denominated in foreign currency for deposit/collection.

The account holder fully authorized the Bank, to immediately debit from its foreign currency or peso accounts for any returned check/s, the Bank’s minimum charges and other amounts the foreign collecting bank may impose for any returned check. The account holder does not hold the Bank liable for any loss which may be incurred due to any changes in the exchange rate.

Checks drawn against banks located outside the US continent are usually sent for collection. The fees/charges collected by the clearing banks abroad shall be debited from the account holder's account. The checks sent for collection will be credited only upon receipt of payment.

All deposits are further subject to applicable existing and future laws, rules and regulations of the Bangko Sentral ng Pilipinas (BSP), Philippine Clearing House Corporation (PCHC) and of the Bureau of Internal Revenue (BIR).

Waiver of Article 1250 of the New Civil Code
The account holders expressly waive the provisions of Article 1250 of the New Civil Code (concerning cases of extraordinary inflation or deflation of foreign currency which provides 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 Article 1250 shall not be applicable to the accounts.

Waiver of Protest
The account holder agrees to waive presentment, protest and notice of dishonor on all checks, orders for payment, bills of exchange, promissory notes, securities, notes, electronic debits or credits or any other payment instruments (“Instrument/s”) that the Bank may receive in any way for discount, deposit, collection or acceptance on the accounts. The account holder is liable to the Bank for any Instrument received for the account holder’s account as if it were presented, protested and given notice of dishonor in the usual way.

For Third Currency Savings Account
Withdrawals can be in the form of third (3rd) currency notes (subject to availability), demand drafts, and telegraphic transfers. In case withdrawals are made in the form of third currency demand drafts, it is agreed that any dispute arising from said payment instruments between the account holder and the bank, shall be governed by laws of the third currency’s country of origin, pursuant to the Bank's depository contractual arrangement with its depository bank in the country of origin.

Passbook
Passbook-based account holders may withdraw by filling out the Bank’s withdrawal slip. No withdrawal is permitted without the presentation of the passbook. The passbook is not transferable. The Bank shall not be deemed liable for any withdrawals made by any person who presents the passbook.

The savings passbook is issued to assist the account holder in monitoring transactions and account balance. If the deposit account allows the account holder to transact business even without the savings passbook, through the ATM and other Bank channels, the account balance shown in the passbook will not be conclusive, unless first updated and verified by the Bank after comparison and validation with its records.

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

No entries, other than those effected by the Bank, shall be recorded in the passbook. In the event of any discrepancy between the entries in the passbook and the Bank's records, the latter shall prevail.

Possession of the passbook shall raise the presumption of ownership by the holder thereof. Any payment(s) in good faith made by the Bank upon the presentation of the said passbook shall be deemed valid in the absence of receipt and acknowledgement by the Bank prior to such payment of written communication from the customer stating that the passbook has been lost, stolen, or otherwise wrongfully comes unto the hands of a third person.

A notice in writing that the passbook has been lost, stolen, or has otherwise wrongfully come to the hands of a third person shall be a valid discharge which shall free the Bank from liability for refusing payment despite the presentation of such passbook. Further, in any such cases, the Bank may, at its option cause a substitute passbook to be issued to such account holder under such requirements as the Bank may deem necessary.

The Bank should be notified immediately for any change in the status or address of the account holder.

For Statement-Based (ATM) Accounts
Withdrawals from this type of account are done using the ATM card and the machine. The ATM facility allows up to PHP 20,000.00 total withdrawal per day unless otherwise indicated or requested by the customer.

The account holder accepts full responsibility for all transactions made with the use of the card regardless of whether such use was with or without the account holder’s knowledge or authority, and/or made with or without the account holder’s signature or PIN.

Encashment
Encashments are allowed only against cleared funds. Issued checks are not negotiable after six (6) months from the date of issuance. The same rules for second endorsed checks, post-dated and stale checks apply.

Rules and regulations of the Philippine Clearing House Corporation (PCHC) and BSP shall govern the return of checks (whether drawn against insufficient funds or drawn against uncollected deposits).

The Bank has the right to dishonor checks presented for reasons other than those mentioned above if it determines that honoring the check will prejudice the interest of the Bank or expose it to probable loss or damage.

Fund Transfers
A funds transfer can only be made to and from enrolled savings/checking accounts that are in the name of the account holder and enrolled third party accounts. Unenrolled funds transfer may be made available for certain channels as and when additional security measures/device became available. The account holder is responsible for ensuring that correct instructions (including transferee details) are given to the Bank. The Bank has no responsibility to verify any information contained in such instructions.

Fund transfers are done by moving funds between UnionBank accounts and other UnionBank accounts or between UnionBank accounts and non-UnionBank enrolled accounts. It may be coursed through the branches, internet banking, mobile banking, ATM machines and Cash Acceptance Machine (CAM). Electronic messages pertaining to fund transfer transactions received by the Bank shall be conclusive; otherwise, any irregularities or concerns should be immediately communicated by the account holder to the Bank. Only clear and unencumbered funds credited to the account holder’s account shall be available for transfer to other accounts.

Fund transfers may be effected immediately or scheduled in advance, and subject to the cut-off times and processing schedules of the channel. Only cleared and withdrawable balances of the nominated payment account will be considered for funds transfer. In case of insufficient available balance in said account, the 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 the nominated payment account. In all cases, the account holder shall be solely responsible for making alternate arrangements for the funds transfer.

For multiple fund transfers coming from a nominated payment account where the account balance is insufficient to successfully process the transfer, the Bank, in its sole discretion, may determine which of the fund transfer requests to complete. The account holder agrees that the recipient’s account name and/or account number of the funds transfer may be disclosed to the account holder or indicated in its statement of account. Further, the account holder also agrees that his/her/its account name and/or account number may be disclosed in the recipient/s statement of account. All disclosures are in accordance with the confidentiality laws and disclosure of information found in these Terms and Conditions.

In accepting payment/fund transfer instructions, the Bank acts merely as conduit between the customer and the payee of the bill/s, undertaking to transfer funds, and therefore, the Bank does not assume responsibility to the payee or to the customer for any discrepancies in the payment caused by account holder's error or delay in effecting the payment instructions beyond the control of the Bank.

The account holder shall not use the Bank facility to transfer funds for illegal purposes or for any form of money laundering. The account holder agrees to hold the Bank free and harmless from any legal problems that the fund transfer may result to. The Bank reserves the right not to perform any fund transfer transaction if it has sufficient grounds to believe that such transfer shall place the Bank in a bad situation or expose the Bank to violation of Anti-Money Laundering Law and existing laws and BSP regulations.

Withdrawals
Withdrawals / encashment / payments / fund transfers are allowed only against cleared funds. It shall be made only by the account holder personally or upon having a written authority, which has been duly authenticated and in such form acceptable to the Bank. Only signatures appearing on the signature cards on file will be honored by the Bank.

No withdrawal of any amount in excess of the cleared outstanding balances of an account, as shown in the bank records shall be allowed.

The Bank is not responsible for any consequences the account holder may suffer from the unprocessed request.

Applicable fees and charges shall be implemented, depending on the chosen mode of withdrawal.

Minimum Account Balance
A minimum account balance must be maintained at the agreed/required monthly average daily balance computed as follows:

Sum of end-of-day cleared account balance of the month
_________________________________________________
Actual Number of Days of the month

Required balance of an account may vary depending on the specific type of account or the product/service availed. Type of Products and corresponding Minimum ADB requirement table may be seen in branch premises and the Bank’s website (www.unionbankph.com).

A Maintenance Fee shall be charged to an active or a dormant account when the Average Daily Balance (ADB) of the said account falls below the required balance for two (2) consecutive months.

Refer to the attached Fees and Charges List (Annex A). The Fees and Charges table may also be seen posted in branch premises and the Bank’s website. Any account with zero balance for three (3) consecutive months regardless of status, may automatically be closed by the Bank without notice.

Interest, Fees, Charges and Penalties
The account holder authorizes the Bank to impose from time to time fees, service charges, and other bank charges on any or all of the accounts, and such other products, services, facilities and channels within legal and regulatory limits.

The Bank may deduct any necessary fees, service charges, or other amounts pertaining to the accounts. Unless otherwise agreed, the Bank may modify at any time, the rate of interest, fees, charges, and penalties applicable to any account or service and communicate such changes to the account holder through announcements in the branch premises.

The Bank is authorized to debit the applicable fees and charges from the account, without prior notice. If the account has insufficient funds to cover the fees and charges, the Bank may suspend its use without any liability.

For Interest Earning Accounts
Interest rates are decided by the Bank and may vary depending on the approved interest rates schedule. It is agreed that the rate of interest shall be variable based on the Bank's formula, which will be calculated based on the account’s daily cleared balance, provided that, said balance does not fall below the required balance set by the Bank for the account to earn interest.

Interest Computation
Interest computation is based on Daily Cleared Balance and is subject to applicable withholding tax. Interest is based on 365 days for Current and Savings Deposit Accounts and 360 days for short-term Time Deposits. It is accrued daily except for Dollar Access Accounts and Premium Deposit Accounts. For regular Savings Accounts, interest is posted at the last calendar day of the quarter while for Dollar Access Accounts, Power Checking and Premium Deposit Accounts at the last calendar day of the month. If account is closed before interest posting, the interest accrued is forfeited in favor of the Bank. However, interest earned as of closing date may be given upon customer's request.

Withholding Tax on Interest Income
The tax on interest earned is governed by the rates prescribed by law.

Deposit Insurance
Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to the maximum amount of Five Hundred Thousand pesos (PHP500, 000.00) per customer.

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.

In case of transfers or break-up of deposits, PDIC shall recognize actual/beneficial ownership of transferees who are qualified relatives of the transferor. Qualified relatives are transferees within the third degree of consanguinity or affinity of the transferor.

In case of (a) deposits in the name of, or transfers or break-up of deposits in favour of, entities, either singly or jointly with individuals, and (b) transfers or break-up of deposits in favour of non-qualified relatives, whenever such transfers/ break up will result in increased deposit insurance coverage, PDIC shall recognize beneficial ownership of the entity or transferee provided that the deposit account records show the following:
  • Details or information establishing the right and capacity or the relationship of the entity with the individual/s, or
  • Details or information establishing the validity or effectivity of the deposit transfer, or
  • Copy of Board Resolution, order of competent government body/agency, contract or similar document as required/provided by applicable laws.
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.

PDIC may require additional documents from the account holder to ascertain the details of the deposit transfer or the right and capacity of the transferee or his relationship to the transferor.

Dormant Account
An account becomes dormant if there has been no activity (deposit or withdrawal excluding earned interest and withholding tax imposed thereon) for a period of two (2) years for Savings Accounts and one (1) year for Current Accounts. A “Notice of Dormancy” letter shall be sent to the account holder at least 60 calendar days before the account becomes dormant. The Bank will impose a dormancy fee on a dormant account five (5) years after the last activity, provided that:
  • the balance falls below the minimum monthly ADB, if any;
  • the monthly dormancy fee will not exceed P30.00 in accordance with BSP regulations, and
  • the required two notice requirement prior to charging the dormancy fee is made, as required by existing banking regulations, or as may be amended from time to time.
Aside from dormancy fee, a monthly service charge will be automatically deducted from dormant accounts every end of the month, if the account's remaining balance is below the required minimum monthly average daily balance (ADB) for at least two (2) consecutive months, or as may be required by existing BSP regulations. Refer to the latest Fees and Charges list (Annex A) posted in the branch premises and website.

After ten (10) years of continuous inactivity, dormant accounts will be reclassified to “Due to Treasurer of the Philippines”. In accordance with the Unclaimed Balance Law, the dormant account shall be escheated in favor of the Philippine Government upon order of the court. If the “unclaimed balance” has been deposited by the Bank to the Treasurer of the Philippines, the account holder will have to go directly to the Bureau of the Treasury for the proper procedure on reactivation. The account holder may reactivate a dormant account by giving the Bank personal instructions for the purpose.

The account holder has to be physically present at the maintaining branch of account to update his/her/its specimen signature card and to make an over-the-counter transaction (deposit or withdrawal). The Bank has to fully establish the account holder’s identity before reactivating the dormant account and will require the account holder to present valid IDs before processing reactivation, posting any transaction or closing the dormant account.

For SSS Pensioner’s Savings Account
The account may be opened by an SSS pensioner in accordance with the Bank's account opening requirements together with a “Letter of Introduction” (LOI) from the SSS. Only individual accounts may be opened by pensioners.

The Bank shall be relieved from any liability in case withdrawals are disallowed by reason of SSS notice to the Bank that credits to pensioner's account have been discontinued or overpayments thereto have been noted.

The closure of account must have prior approval of SSS. The Bank must transmit to SSS any information that would come to its knowledge (e.g. Death of the Pensioner) which could warrant stopping of pension payment.

The account holder is liable for all damages and losses suffered by the Bank, arising from such closure. The Bank and its officers/employees are held free and harmless from any and all liabilities, losses, claims and causes of action of whatever kind or nature, in connection with the reporting of mishandled deposit accounts by the Bank, to the Bankers Association of the Philippines (BAP) or to any central monitoring entity or body established by the BAP.

Closure of Account
The Bank retains the right, at its sole discretion, and at any time, without obligation to disclose the reasons for such closure, to close any or all of the account holder’s accounts, refuse to accept any further deposits, and return to the account holder the whole or part of his deposit together with the interest due upon the same. The account holder may be notified either personally or by mail of the Bank's intention to close the account and interest shall cease from the date of such notification. Notice by mail shall be deemed received five (5) days after the date of posting. If upon account closure, there remains to be unpaid obligations of the account holder to the Bank, the Bank is fully authorized to withhold such amounts in the account balance, properties or securities of the account holder in the possession or custody of the Bank as may be necessary to pay existing obligations of the account holder with the Bank. The Bank is authorized to close accounts even without prior notice in case said accounts are:
  • mishandled by the issuance of unfunded or insufficiently funded check(s);
  • involved in or used or suspected to be used for any fraudulent, criminal or unlawful activities.
  • 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 body established by the BAP or BSP to keep record of and report mishandled deposit accounts.
The account holder agrees that in connection with the closing of a current account, all unused checks, whenever required by the Bank, shall promptly be surrendered.

The Bank shall pay the account holder the proceeds of the closed accounts via Manager’s Check net of all applicable charges, fees and/or taxes and/or such amounts which shall answer for the outstanding contingent or past due liabilities, if any, under any of the products, services and facilities availed of by the account holder from the Bank. The Bank also reserves the right not to release checkbooks, Automated Teller Machine (ATM) cards or other items paid in advance for Accounts the Bank decided to close.

The account holder holds the Bank and its officers and employees free and harmless from all liabilities, claims and demands of whatever kind related to:
  • the closing of accounts; and/or
  • he dishonor of any check thereunder which may be presented to the Bank after the closing of the accounts; and/or
  • 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.

Deceased Depositor
In case closure of an account upon death of the depositor, the Bank shall only release the proceeds of the account to his/her heirs subject to the Bank’s policy on deceased depositor and applicable laws and regulation.

Joint Account
This Agreement shall be binding upon account holders and their heirs, executors and administrators of joint accounts. Terms thereof shall not be waived, amended or modified, except with the written conformity of the Bank.

Joint “And” Account
The funds in a joint “and” account are presumed co-owned by all of the account holders equally, and shall be payable to and collectible by all of them jointly during their lifetime. The Bank requires the signature of all the account holders for withdrawals, check transactions, or written orders for payment. All of the joint “and” account holders shall be jointly and severally liable for any overdrafts on the account, and other penalty charges that may be imposed in the course of the operation of the account. The account holders of the joint “and” accounts authorize the Bank to allow deposits, withdrawals, check transactions or written payment orders only with written consent, approval or signature of all the coaccount holders of the Joint “and” Account. The Bank shall only act on the instructions given or agreed by all of the co-account holder(s) of the joint “and” account. In case no common instructions are given by all of the co-account holder(s), the Bank may, at its option, either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve account holders’ respective claims, and the account holders shall reimburse the Bank for the cost of suit, attorney’s fees, and other expenses that it may incur. The account holders hold the Bank free and harmless from and against any and all liabilities which may arise by reason of the Bank’s implementation of any of the instructions of the account holders or refusal to pay any proceeds of the joint “and” account without the required discharge by all of the joint “and” account holders given to the Bank in cases where:
  • there is a claim or dispute relating to the account; or
  • there are conflicting claims or representations as to the ownership of the accounts, or the manner of operating the accounts, the Bank, may at its option, exercise such remedies permitted by law, as the circumstances may warrant.
All account holders are required to endorse checks, notes, drafts and other instruments for payment.

Amounts owed to the Bank due to fees, charges, or taxes shall be the responsibility of all account holders.

Upon the death of one of the co-account holders, the remaining co-account holder(s) and the legal representative(s) of the deceased co-account holder shall comply with the provisions of the Rules of Court for settlement of estate of a deceased person, other applicable laws, rules and regulations, and pertinent Bank policies including, but not limited to, co-signing the withdrawal form and relevant documents. The remaining coaccount holder(s) and the heirs of the deceased co-account holder recognize and agree that the liability to pay any and all amounts due representing unpaid obligations, taxes, assessments or expenses arising from the release or withdrawal of the subject account or the funds therein in accordance with all applicable laws and regulations shall their sole responsibility.

Joint “OR” Account
The account holders agree and declare that the account is their joint account, belonging to both of the account holders and payable to either one of them.

The account holders authorize the Bank to recognize either of the signatures of the account holders in withdrawal transactions or fund transfers. Payments to or withdrawal made by either of the account holders shall completely discharge the Bank from any liability. The account holders authorize each of the co- account holders to endorse for deposit to the joint account all checks, notes, drafts and other instruments payable to anyone of the joint account holders.

The following instructions shall not be honored by the Bank unless all joint account holders specifically instruct in writing and/or are complied with:
  • Change in any account information
  • Instruction to change address or any other instructions concerning the maintenance or operation of the accounts.
  • Affidavit of Loss and requests for card replacement/ passbook replacement, certificate of deposit, or any other evidence of account ownership.
  • Request for bank certification
  • Addition/ deletion of account holder from the account.
  • Affidavit of Loss and request for replacement of ATM Card should be executed by the accountholder to whom the Card was issued, and conformed to by the co-account holder.
  • Special Power of Attorney authorizing a third party to;
    • withdraw, effect funds transfer, disbursement or any transaction relating to the account, or
    • assign or encumber the account as security for any obligation.

Survivorship clause for Joint “OR” Account
In case one of the co-account holders predeceases the other, the entire balance of the account shall be payable to the surviving co-account holder. The surviving account holder shall immediately notify the Bank in writing of the death of any one of the account holders. Upon receipt of the written notice of death, the Bank may hold in the name of the surviving account holder/s all funds or items to the credit of, or by way of security for, any service or product then standing in the name of all account holders, it being agreed and acknowledged that as joint owners of the joint “or” accounts, remaining co-account holder/s have the right of survivorship.

If the surviving account holder/s fail to give such written notice of death and the Bank allows withdrawals on the Joint Account before receipt of said notice, it is deemed that the surviving account holders have exercised the right of survivorship and have complied with applicable provisions / requirements of law including, among others, payment of taxes, if any, and satisfied any claims/debts/liens/right of setoff which the Bank or any heir or third party may have. The surviving account holders hereby hold the Bank free and harmless and indemnified from any and all taxes, claims/debts and liabilities arising from or in connection with this survivorship provision.

In case the Bank receives contradictory instructions from any co-account holder(s), the Bank may, at its option, require all coaccount holders to provide the Bank with common instructions. In the absence of the latter, the Bank may opt to either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve their re spective claims on the account. The account holders agree to reimburse the Bank for the cost of suit, attorney’s fees, and other expenses that the Bank may incur for the purpose.

The account holders hold the Bank free and harmless from and against any and all liabilities which may arise by reason of the Bank’s implementation of any instruction of the account holder/s or refusal to pay any proceeds of the joint “or” account without the requisite discharge by all of the account holders given to the Bank in cases where:
  • there is a claim or dispute relating to the account; or
  • there are conflicting claims or representations as to the ownership of the accounts, or the manner of operating the accounts, the Bank, may at its option, exercise such remedies permitted by law, as the circumstances may warrants satisfaction.

Declaration that Co-Accountholders are Alive
Whenever one of the account holders withdraws/effects funds transfers/draws against the account/s, the account holders are doing so based on their continuing declaration and representation, under liability for perjury, that all their coaccountholders are still living as of the date of the withdrawal/fund transfer/drawing against the account/s is made, and that the Bank, may at its discretion rely on such continuing declaration and representation and the account holders agree to keep the Bank free and harmless for its reliance on such continuing declaration and representation of the account holders.

For Minors & “In-Trust For” Accounts-deposit
For customers who are minors (below 18 years old), it is the responsibility of the parent/s or guardian/s to read, understand and be bound by the Terms and Conditions. It is the parent/s or guardian/s responsibility to explain to the minor the use of the products and services. The Bank is free from liabilities which may occur from the use of the account, products and services. In opening an In – Trust For (ITF) account, the one opening the account declares that the ITF account is being held for the sole benefit of the beneficiary(ies) named in the account opening form of the ITF account. The depositor shall provide all documents required by the Bank to establish the identity of the beneficiary(ies), the creation of the ITF account, and the purpose of the opening of the ITF account. The Bank shall be entitled to disclose any information regarding the ITF account to the beneficiary(ies), if required.

The depositor declares that the ITF account, including payment or release of the funds, is established for a legitimate purpose, and hereby holds the Bank free and harmless from any and all claims of whatever kind related to the opening, release and/or disposition of the ITF account.

The ITF account may be designated as revocable or irrevocable. Under a revocable ITF account, the account holder reserves the right at any time to close or terminate the account or withdraw from the account in accordance with these Terms and Conditions. Under an irrevocable ITF account, the right to close or terminate the ITF account is relinquished and no part of the funds therein shall revert to or may be withdrawn by the one opening the account. In the absence of a written instruction, the Bank will process the ITF account as revocable.

Whatever funds that remain in the ITF account upon the death of the depositor who opened the ITF account shall be beneficially owned by the beneficiary(ies) and shall be released by the Bank to the said beneficiary(ies) or to the latter’s legal guardians or legal representative(s) upon presentation of the appropriate identification and other required documents and payment of applicable taxes.

The Bank may require the beneficiary(ies) to provide an indemnity agreement, court order on appointment of legal guardian, and any other document that the Bank may deem necessary or required.

Requisition/ Issuance of Checkbooks
Checkbooks are reordered by accomplishing any of the following:
  • Checkbook Reorder Request Form/ Business Check Reorder Slip at any of the UnionBank branches
  • Checkbook Reorder Request Bank Stub found in the check booklet
  • Online Checkbook Reorder Request form which can be downloaded from UnionBank's online banking facility.
Payment for checkbook/s may either be in cash or debited from the account. Checkbooks may be linked to a deposit account or credit line maintained by the account holder with the Bank. Upon receiving any checkbook issued by the Bank, the account holder or its authorized representative shall piece- count the checks to ascertain its completeness and immediately notify the Bank of any discrepancy. Personal checkbook consists of fifty (50) blank checks or twenty-five (25) carbonized checks if requested by the account holder. Commercial checkbook consists of one hundred (100) blank checks. The Bank is not responsible for tampered checks once the checkbook has been released to the account holder.

The account holder shall not use checks printed by or secured from printers not accredited by the Bankers Association of the Philippines (BAP) Accreditation Board. The use of MICR checks printed by, or secured from, entities other than those accredited by the Bank 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 related to fraudulent acts.

The account holder shall at all times ensure compliance with the following:
  • maintain the checkbooks in a secure and safe place accessible only to account holder and authorized signatory(ies) and ensure that it is only the account holder
  • or the duly authorized signatory(ies) who draw(s) or issue(s) the same;
  • exercise due care when drawing and releasing/delivering checks, and shall not draw checks by any means or in any manner which may enable a check to be altered;
  • not to release/deliver/completely drawn checks nor release/deliver checks by mail or any unsecured means;
  • when drawing checks, the account holder is bound by the conditions to which checkbooks are issued, including, among others, the following:
    • clearly stating the amount in words and figures in the spaces provided on the check; and
    • writing words and figures close to the left-hand margin so that other words and figures cannot be inserted;
  • provide and observe security measures for the safekeeping and use of checks and check records;
  • exercise diligence to obtain cancelled checks and Bank statements and promptly inform the Bank in case of non-receipt of Bank statements within a reasonable time from statement cut-off date.

For Business Check
Checks with voucher are reordered by accomplishing the Business Check Reorder Slips at the branch, online via UnionBank's internet banking facility, or using the Bank Stub found in the checkbook.

Payments for checks may either be in cash or debited from the account.

Upon issuance of the checks by the Bank, the account holder or account holder's authorized representative/s shall count and acknowledge receipt of the checks. Customer or customer's authorized representative/s shall also bring any file storage device (e.g. cd or thumbdrive) for the encoding of the new check numbers by the Bank. The commercial check bundle consists of 100 blank checks with voucher. The Bank is not responsible for tampered checks once it has been released to the customer or customer's authorized representative/s.

Stop Payment Order (SPO)
An SPO may be requested only before the check has been paid or accepted or certified for payment by giving clear written instructions to the maintaining branch of the account or through the Bank channels. The account holder agrees that the SPO is accepted by the Bank on the assumption that the check has not yet been negotiated as of the date and time the SPO is issued and that stale dated checks cannot be accepted for SPO.

The SPO initiated on any check shall be made by promptly notifying the Bank in writing and by accomplishing the Bank's SPO form, among others, with the account holder fully identifying the check, indicating the date, amount, check number, and payee.

The SPO shall be effective for six (6) months, from the date of receipt of the SPO. SPOs for dated and undated checks are valid for a period of six (6) months from the date of receipt of the SPOs. SPO issued on undated checks will be void and ineffective six (6) months after the date of the SPO and will be automatically cancelled by the Bank without need for further notice. Lifting of an SPO can only be made upon a 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 account holder’s account/s without further notice.

Checks drawn against a closed account will be returned for the reason “Account Closed” regardless of SPO instructions. The Bank shall not be liable for any loss that may be suffered by the account holder due to the failure to immediately report in writing to the bank any loss or theft of check/s.

The SPO may be cancelled or lifted upon written request, if the check has not been presented to the Bank; or if the check has not been considered stale. Lifting of the SPO releases the Bank from any liability in case the check subject to SPO is later presented and paid or negotiated by the Bank.

Statement of Account
A Statement of Account (SOA) is issued quarterly for statement-based Savings Accounts. For passbook-based Savings Accounts and Dollar Access Accounts, the passbook is used to monitor transactions.

For Current Accounts, a SOA is issued monthly by regular mail within a month from availability date. The account holder is responsible for promptly examining the Statement of Account and the paid checks or check images enclosed therein to validate if:
  • any and all the entries in the Bank statements are correct;
  • the amount(s), payee(s) and other data indicated on the paid checks are true and accurate and there are no discrepancies; and
  • there are any fraudulent, altered, forged signatures or endorsements on the checks or the checks are defective.
The account holder shall promptly 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 statement date. Failure to make the examination or the notification within the said period shall be deemed a conclusive admission of the correctness of the Bank SOA and the enclosed paid checks or check images.

For current accounts and such other accounts where the Bank opts to deliver a SOA, the account holder agrees that if within ten (10) calendar days from SOA cut-off date, such statement has not been received, it is the account holder’s responsibility to go to the maintaining branch to ask for a copy of the SOA or avail of applicable Bank channels to view, print or download such statement, otherwise, the SOA shall be conclusively deemed to have been received by the account holder. The account holder agrees that if the Bank does not receive any complaint from the account holder within twenty (20) calendar days from statement 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. Any complaints received beyond the said 20-day period shall not be entertained by the Bank.

ATM Card
The UnionBank ATM card shall at all times remain the property of the Bank and the account holder agrees to promptly surrender the ATM card/s upon request. The account holder acknowledges that the Bank may withdraw or suspend the ATM card/s or related services offered without need of prior notice, and the Bank shall have no obligation to inform the account holder of the reason for such withdrawal/suspension.

The ATM card can be used in all UnionBank ATMs (on-us) and other bank’s ATM (off-site). Off-site ATM transactions are subject to fees. The cardholder is responsible for all the transactions made with the ATM card. If any account is in the name of more than one (1) person (joint account) and any one of the joint account holders may transact on the account, the Bank may issue ATM cards to some or all of the account holders, and in such cases, the Bank may implement transfer / debit / withdrawal instructions that are received from any one of the joint account holders using any of the ATM card/s issued.

The UnionBank ATM Cards are issued for the exclusive use of the account holder and are non-transferable and cannot be lent for the temporary use of any other person, nor can the same be pledged or charged as security for any reason and in any manner whatsoever.

All transactions done through the ATM card are assumed to have been made by or authorized by the account holder.

Personal Identification Number (PIN)
Along with the card, the account holder is provided a Personal Identification Number (PIN) used to access the ATM.

The account holder agrees to keep the PIN (whether Bank-assigned or the replacement PIN of the account holder’s choice) private and confidential at all times. This shall not be disclosed, given or made available to any person under any circumstances.

Non-compliance by the account holder of this provision shall relieve the Bank of any liability for any loss arising from the use of the PIN to effect any transaction relating to the accounts of the account holder. Any transaction effected using the account holder’s PIN shall be conclusively presumed to have been authorized by the account holder.

The customer may change his PIN at any time, via any UnionBank ATM.

While the cards are issued by the Bank, it is acknowledged that the Bank has no access to the PIN assigned to the card and does not have the capability to retrieve information related to the said PIN. In case the customer is unable to remember his PIN, a new card will be issued to the customer upon the latter’s submission of Bank’s requirements and payment of fees.

International ATM Access
ATM cards may also be used internationally. Such transactions are subject to the laws and regulations governing the use of international ATMs. Corresponding fees and charges shall apply. Cash withdrawals are converted to the currency of the institution owning the ATM, at the prevailing exchange rate, during the time of the transaction. The account holder agrees to be bound by the existing rules and regulations for foreign exchange.

The account holder acknowledges and agrees that the Bank does not have any control over the participants of the ATM or other networks through which the account holder may access the account/s, or the ATMs themselves, or the procedures or controls such ATM or other network participants adopt in regard to data / information processing including the electronic transmission or receipt of data or the accuracy of such data/information. Hence, the Bank shall not be liable for any loss or damage of whatever kind or nature incurred by the account holder related to the processing of the transactions through network participants and processors or through third party banks and ATM networks worldwide, including those arising from the collection, storage and communication of data relating to the account holder’s accounts.

The account holder’s account, or the electronic transmission or receipt of data or information relating to the account holder’s ATM Card transactions or accounts, such as, without limitation:
  • in instances where the account holder is unable to use the ATM card or avail of any service due to disruption or failure of the ATMs or other networks or communications facilities linking the same,
  • unauthorized or fraudulent access or utilization of the ATM card or any service including, but not limited to, the improper designation of the account from which the transaction shall be debited or credited, or
  • any rejection, disruption, failure or delay relating to the use of the ATM card or availment of any service where such rejection, disruption, failure or delay is due to circumstances beyond the Bank’s reasonable control.
The account holder agrees that by using the ATM card in ATMs outside the Philippines, the processing of the ATM Card transactions shall be subject to the collection, storage and communications of all data (such as account balance) relating to the account holder’s accounts, and the processing of the transactions may be performed, in whole or in part, electronically. Hence, apart from the Bank, there may be other entities which will have access to, and may have to collect, store or communicate, data relating to the account holder’s accounts in the processing of the ATM card transactions.

Whenever, the account holder uses the ATM card in ATMs outside the Philippines, the account holder consents to:
  • The collection, storage, communication and processing of all pertinent data, such as account balance, by any means necessary to maintain appropriate transactions and account records;
  • The release and transmission of all these necessary data to participants and the processors in the network;
  • The retention of these data by the network; and
  • The compliance of the network with all applicable laws and regulations governing disclosure of information to which they are subject.
International fees shall also apply, as determined by the international network where the transactions were coursed through.

POS Usage and Online Transactions
The ATM card may be used in POS terminals, as well as online merchants. The Bank is not liable for any loss or damage from unsuccessful transactions through POS terminals or through online merchants. Corresponding transaction fees shall be implemented for such transactions.

The account holder agrees that in cases of conflict between the account holder’s records and those of the Bank regarding reconciliation of deposit balances, the Bank's record shall, at all times, prevail.

Card Validity
The card shall be valid from the day of issuance or renewal, and expires on the last day of the month indicated on the face of the card. Card renewal may be initiated by the cardholder through the Branch. Card renewal is subject to the submission of complete requirements.

Lost or Stolen Card
The customer has an obligation to report to the Bank any case of lost or stolen card. The Lost Card Protection Feature absolves the cardholder from any financial liability in case the card is used for fraudulent purposes but only from the time the loss was reported to the Bank. The Bank may issue a new card to the customer, upon payment of corresponding fees.

Card Replacement
The cardholder can request for card replacement through the Branch. Documentary requirements need to be submitted, depending on the reason for replacement. Corresponding fees and charges may apply.

Captured Card
Captured cards that are unclaimed for three (3) days will be destroyed without need of notifying the customer. Replacement for destroyed cards may be issued to the customer upon payment of necessary fees.

ADDITIONAL PROVISIONS FOR TIME DEPOSIT ACCOUNTS (Including Peso, US Dollar Optimizer and other Time Deposit products.)

Opening of Account
A Time Deposit Account may be opened at any branch or at the head office by:
  • an individual; or
  • two (2) or more persons jointly, who is/are
  • free from any legal disability; or
  • a juridical entity, in the name of a corporation, partnership, association, or other juridical entities.
The branch/head office unit where the account was opened serves as the maintaining branch/unit. Unless allowed under existing laws and regulations, the Time Deposit Accounts shall be maintained in the depositor/s’ true and full name.

Certificate of Time Deposit
The Certificate of Time Deposit (CTD) is issued upon deposit / placement and can also be used as loan collateral.

The CTD cannot be assigned or transferred without prior written consent of the Bank. Possession or presentation of CTD will be subject to final verification against the Bank’s official records. The Bank’s records regarding the account shall always prevail in case of any conflict.

In case the original copy of the CTD is lost, the Depositor shall immediately notify the Bank by submitting a duly notarized Affidavit of Loss. Such notice shall discharge the Bank from any liability for refusing payment in case of presentation of such lost CTD.

InterestInterest
Interest rates are decided by the Bank and may vary depending on the approved interest rates schedule.

Interest Payment and Computation
Interest is paid upon maturity, or termination of the deposit, unless otherwise specified. Interest computation is based on principal amount and term and is subject to applicable withholding tax. Interest shall be computed from value date to maturity or termination date (days accrued).
Gross interest computation shall be:

Principal x Interest Rate x No. of Days Accrued
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Applicable Day-Count Convention

Termination of Time Deposit
Termination of, or withdrawals for TDs shall be accepted upon presentation of the CTD duly signed by the Depositor at the maintaining branch/unit. In case the placement, or part thereof, is withdrawn before maturity, the Time Deposit Account will be closed and the prevailing savings deposit rates, depending on the type of Time Deposit Account, shall be used as basis for computation; provided that, if the interest had been paid in advance, the corresponding rebate shall be charged against the placement.

The Bank, however, shall collect processing and administrative fees to cover expenses incurred, including documentary stamp tax, if any.

Fees and charges may apply if the depositor chooses to receive the proceeds through another mode of settlement (e.g. MC, Demand Draft or withdraw the proceeds and transfer funds electronically through telegraphic transfer or outward transfer). The fee is waived for TD proceeds applied in full for MC or Demand Draft stating the same payee/s as reflected in the CTD.

Renewal of Time Deposit
The depositor may also renew/rollover the Time Deposit through the maintaining branch/head office unit in accordance with the Bank’s guidelines. The Bank’s records pertaining to the renewal shall be valid and binding against the depositor unless the depositor notifies the Bank in writing of any error therein within three (3) banking days from receipt of renewal confirmation details.

For partial rollovers and additional deposits, the Time Deposit Account shall be closed. The proceeds shall be credited to the settlement account while the amount to be rolled over shall be processed as a new placement.

Non-renewal of Time Deposit
If the Time Deposit is not withdrawn / renewed on its maturity date, the same shall be deemed terminated and shall automatically earn interest at savings deposit prevailing rate on a per annum basis from the date of maturity to the date of actual withdrawal or renewal.

Cooling-off Period
Depositors shall be provided two (2) banking days cooling-off period, immediately following the signing of any agreement or contract, particularly for financial products or services with a long term savings component (more than one (1) year) or those subject to high pressure sales contracts. Cancellation of the Time Deposit or withdrawal of funds after the prescribed period is considered pre-termination and is subject to applicable fees and charges.

Depositors shall be permitted to cancel or treat the agreement as null and void, without penalty, subject to submission of written notice of cancellation, within the cooling-off period. The Bank, however, shall collect processing and administrative fees to cover expenses incurred, including documentary stamp tax if any.

The Bank shall not be liable for any loss arising from the depositor’s exercise of the cooling-off rights. The right to cooling-off shall not apply where there has been a drawdown of a credit facility.
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Time Deposits are further subject to the terms and conditions contained in the CTD, Product Description or other documents that the Bank may require the depositor to execute in relation to his placement/s.

CHANNELS FOR SERVICES

Online Banking
UnionBank Online Banking is a facility that allows customers to access their accounts and to perform various transactions online. These include viewing of account details, account balance, buy loads, bills payment and fund transfer using smartphone, tablet, laptop or personal computer or any channel or medium where UnionBank's Online Banking facility is made accessible by the Bank.

The online banking services of the Bank are accessed through the Internet, which is a public system over which the Bank has no control. It is the account holder’s duty to ensure at all times that any personal computer or other device, which the account holder uses to access the Bank’s online banking services, is free from and adequately protected against acquiring computer viruses and other destructive or disruptive components. The account holder is solely responsible for the performance and protection of any browser used in connection with the Bank’s online banking services including the prompt adoption by the account holder of all security patches and other security measures issued or recommended from time to time by the suppliers of such browsers.

Communication by the Internet may be affected by factors beyond the Bank’s reasonable control, including but not limited to a breakdown or failure of communication facilities, inherent technological deficiencies, network traffic congestion or any blockage, interruption, delay, corruption or Interception of such communication. The account holder acknowledges and agrees that such factors may cause the following to happen:
  • failure or delay in the online banking service of the Bank or receipt of instructions;
  • failure or delay in the execution of instructions from those prevailing at the time they were given; or
  • inability to execute instructions at prevailing quoted prices/rates or at any “at best” or at “market prices/rates”.
The account holder is responsible for the ownership and maintenance of the online account. The account is further subject to the Bank's terms and conditions regarding the Online Banking facility, which is available in the UnionBank Online Banking website, www.online.unionbankph.com.

DISCHARGE OF OUR LIABILITIES

The Bank shall not be liable for any failure to provide any service or to perform any obligation, or for any loss, damage, injury, or claim of whatever nature that the depositor may suffer in connection with the use of the Bank's systems, due to any fortuitous event, typhoons, floods, public disturbances and calamities, or any act or circumstance beyond the control of the Bank, such as but not limited to:

  • prolonged power outages, breakdown in computers and communication facilities, and other similar cases;
  • inaccurate, incomplete or delayed information is received by the depositor due to disruption or failure of any communication.
In any action arising from this Agreement or any incident thereto which the customer or any other party may file against the Bank, the Bank’s liability shall not exceed One Thousand Pesos (PHP1,000.00) in Philippine currency or the actual damages proven whichever is lesser. The Bank shall be under no liability to the customer in respect of any loss or damage arising directly or indirectly from:
  • Any loss or damage howsoever incurred or suffered by the customer by reason of the Bank’s refusal or the refusal of other financial institutions or third parties, to allow a Card Transaction or to accept the Card or the PIN or to provide Cash Advance up to the Credit Limit or at all;
  • Refusal of any merchant Affiliate of member institution of Mastercard or VISA International to honor the Card;
  • Any defect or deficiency in the goods or services supplied to the customer by any Merchant Affiliate or, where applicable, for any breach or non-performance by a Merchant Affiliate or a Card Transaction;
  • Malfunction of any ATM or disruption of communication systems;
  • Exercise by the Bank of its right to demand and procure the surrender of the Card prior to its expiry date, whether such demand and surrender are made and/or procured by the customer or by any other person or ATM.
  • Exercise of the Bank’s right to terminate any Card or the Card
  • Account pursuant to the Termination Clause hereof.
  • Any injury to the customer’s credit character and reputation arising from the repossession of the card, any request or demand for the surrender of the Card, or the refusal of any person to honor or accept the Card;
  • Any misstatement, misrepresentation, error or omission in my Statement of Account;
  • Any dispute between the customer and any Merchant Affiliate or financial institution or any other person. The customer’s liability to the Bank shall not be adversely affected by any such dispute or by any counterclaim or right of set-off which the customer may have against such Merchant Affiliate or financial institution or other person.
  • Any loss or damage that may be incurred or suffered by the customer due to the acts or omissions of service providers engaged by the Bank.
In all other cases not specifically provided under these terms and conditions, the usual customs and procedures between the Bank and the customer, the existing rules and regulations, policies and circulars (and those that may be issued from time to time) by the BSP, Banker's Association of the Philippines (BAP), the Bancnet relative to ATM banking, phone banking, or similar electronic transactions, and relevant laws and regulations affecting US dollar accounts, shall be taken into consideration in the operation and maintenance of the account and in resolving issues involving transactions between the Bank and the customer.

The customer holds the Bank free and harmless from any liability or causes of action in case limitations or restrictions are imposed on the operation and maintenance of the account, by the BSP or by the government which the Bank is bound to comply with or strictly implement.

Liability Limits
The Bank will not be liable for any loss, damage (including special, indirect or consequential damages) or delay resulting from any force majeure event, including failure, error, malfunction or inaccessibility of any of the Bank’s systems and machines. The Bank’s liability for oversight, operating errors and similar acts of inadvertence shall be limited to duly proven and established damages only but in no case exceed PHP10,000.

OTHER PROVISIONS

Phishing
The customer understands that account/s may be compromised through phishing. Phishing is a high-tech online scam that seeks to steal credit card numbers, account information, SSS numbers, passwords, and other sensitive information from the Bank clients. This is done by using fake e-mails, fraudulent Internet addresses, impostor websites, and “pop-ups”, to impersonate the Bank and trick clients/account holders into disclosing their personal data, which is then used by unauthorized persons to withdraw money from the account/s using the unique ATM/Debit Card PIN.

The account holder is advised that many of the elements of phishing attacks are beyond the control of the Bank because the activity is directed against individual users and their personal computers (PCs) as well as targeted against utility companies, retailers, etc., that use and retain financial information of their customers who may happen to be account holders or clients of the Bank.

The account holder/s acknowledge that that they were provided by the Bank, at account opening an awareness briefing on phishing, circumstances that enable phishing to occur and the indispensable role that the customer plays in its consummation.

The Bank never asks for the personal information such as the account number, password, and PIN. Customer must be cautious and should not be tricked into giving through email and fraudulent website.

The account holder is advised to be vigilant at all times and observe the following phishing prevention tips:
  • be suspicious of any e-mail with urgent request for personal information;
  • be careful of e-mails that are not personalized (sent in bulk) and/or contain spelling errors and awkward phrasing;
  • be careful and suspicious of personalized e-mails that ask for personal financial information, and note that the Bank will never ask for personal financial information of account holders by e-mail;
  • do not use links in e-mail messages that ask for personal information;
  • regularly log on your online account/s and check your Bank, credit and debit card statements to ensure that all transactions are legitimate, and
  • ensure that your Internet browser is up to date and that the most recent security updates have been promptly applied.
The account holder agrees to cooperate, through all reasonable means, with the Bank’s efforts to prevent phishing.

TThe account holder shall ensure the confidentiality of the account and card information, personal information, and card PIN, and it is the account holder’s responsibility to ensure at all times that these confidential information are not disclosed to unauthorized person/s, institutions, or websites.

TThe account holder/s agrees that they are held wholly liable for any and all future withdrawals from their account/s that may result from phishing.

TThe account holder further agrees to indemnify and hold the Bank, its officers, directors, employees, agents and representatives free and harmless against any and all losses, damages, penalties and liabilities of any kind.

Reporting of Lost/Stolen ATM Card/Unauthorized ATM Transactions
The Cardholder shall immediately report if the card is lost or stolen, or there are unauthorized debit transaction/s or other type of contingencies to UnionBank by calling the Bank’s Customer Service:
Customer Service: 84-186 or (02)8841-8600
Domestic Toll Free: 1800-1888-2277
Universal Toll Free: IAC+800-8277-2273
Trunkline: (02) 667-6388
or to his/her Maintaining Branch. Prior to receipt by UnionBank of account holder’s report of loss / theft / unauthorized transaction/s, all transactions generated by the use of the card shall be deemed conclusively binding on the account holder and UnionBank will not be held liable for any loss or damage incurred by the account holder.

Upon receipt of such occurrence, the Bank shall immediately tag the card as “Hot Card” to restrict further access to the account. The Cardholder shall further be advised to replace the ATM card to prevent from further unauthorized debit transaction. Other unauthorized transactions due to the following fraud scheme shall be handled as follows:
Fraud Scheme Bank Accountability
Clone Card due to Skimming No
Ruler Gang Yes
Good Samaritan (Simple, Glued, Lebanese) No
Malicious Claim No
Cardholder shall be informed about the possible investigation charge of PhP1,000 should the claim/complaint be proven malicious and untrue.

AMLA Reporting
The account holder authorizes the Bank to make the necessary verifications, records, reports, submittals and other processes, as well as perform such acts for the purpose of complying with the Anti-Money Laundering Act (Republic Act No. 9160, as amended), its implementing regulations, and other laws or rules regulating the accounts and the account holder hereby waives corresponding rights under Republic Act. No. 1405, as amended, Republic Act No. 6426 as amended, Section 55.1 of Republic Act No. 8791 and other applicable laws or regulations for this purpose.

Cut-off Times
Different cut-off times apply for the Processing of different instructions. If instructions are received beyond the set cut-off time, it will be processed during the next banking day.

Foreign Account Tax Compliance Act (FATCA) - deposit
The Bank reserves the right to block any payment or transaction on the account that will result in the Bank, any of its affiliates or its third party service provider/s, or any Payment Infrastructure Provider being in breach of any requirement under FATCA, similar domestic or foreign legal requirement or agreement.

For the purpose of this agreement, "Payment Infrastructure Providers" refers to any third party that forms part of the global payment systems; "FATCA" refers to section 1471 to 1474 of the United States Internal Revenue Code or any associated regulations or official guidance; "IGA" means any intergovernmental agreement between the US and any other jurisdiction, or any treaty, law, regulation or official guidance relating to an IGA, that facilitates the implementation of FATCA; "FFI Agreement" means any agreement pursuant to the implementation of FATCA or an IGA with the US Internal Revenue Service, the US Government or any other Authority.

The Bank, any affiliate, or third party service provider reserves the right to withhold or deduct an amount for any applicable tax, duties, or other lawfully collected amounts ("Collected Amounts") which are required to be withheld or deducted to comply with any law or regulation of any domestic or foreign jurisdiction, or any agreement entered into with or between any authority, as required. Any Collected Amount will be timely paid to the relevant authority as required. The Bank will notify the customer of any Collected Amount as soon as reasonably possible. The customer acknowledges that the Bank will not be required to reimburse any amount withheld or deducted by a Payment Infrastructure Provider.

Further, if the Bank, any affiliate, or third party service provider pays or are required to pay an authority from their own funds to settle an amount that should have been, but was not a Collected Amount, the customer shall pay the amount, plus any applicable interest and penalties. The customer understands that the Bank is not required to contest any demand made by an Authority for such payment.

CONSENT TO PROCESSING AND CUSTOMER INFORMATION UPDATE

By signing below, the depositor(s) authorize(s) and consent(s) to the processing, sharing and/or transferring by Union Bank of the Philippines (the “Bank”) of his/her/their Personal Data as this term is defined under the Data Privacy Act and its Implementing Rules and Regulations ("DPA IRR") and all other issuances of the National Privacy Commission (NPC), or otherwise, relating to his/her/their account(s) to any of the following for any of the specified purposes which in all cases are in compliance with or pursuant to the Bank's legal or contractual obligations:

  • government regulatory agencies, credit information/investigation companies, financial institutions, credit bureaus, other banks, credit card companies, loyalty program partners, consumer reporting or reference agencies such as Credit Card Association of the Philippines, Bankers Association of the Philippines, Credit Information Corp. and the Trans Union Credit Bureau for the purpose of credit investigation, consumer reporting, or for reports of his/her/their credit history and account updates;
  • third persons, correspondent banks, service providers and entities as the Bank deems necessary, to enable the Bank to service his/her/their account/s and to provide all the existing features of his / her / their account/s, the Bank products, services, facilities and channels, and any future enhancements thereto or to assist the Bank in the processing of his/her/their data, including its collection, recording, organization, storage, management, protection, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or destruction;
  • third parties engaged by the Bank or by its subsidiaries or affiliates for the purpose of direct/indirect marketing to offer selected products and services which may interest the depositor(s) unless specifically instructed otherwise in writing or
  • insurers, insurance brokers, or providers of deposit or credit protection or protection against all kinds of risks;
  • regulatory authorities when such other persons or entities the Bank may deem as having authority or right to such disclosure of information as in the case of regulatory agencies, governmental or otherwise, which have required such disclosure from the Bank and when the circumstance so warrant.
The depositor(s) understand/s that Personal information refers to any information, whether recorded in a material form or not, from which his/her/their identity is apparent or can be reasonably and directly ascertained by the entity holding the information, or when put together with other information would directly and certainly identify the depositor(s).

Depositors agree that they are fully aware that the Bank collects his/her/their personal information from any of the following sources:
  • Personal Information Sheet or other form duly accomplished by depositor(s) as requested by the Bank;
  • Information collected about depositor(s) when he/she/they contact/s the Bank or the Bank contacts the depositor(s) through the hotline, via email, mobile applications or services, online platforms and otherwise; and) information collected about the depositor(s) from other commercially available sources or recorded communication.
Depositor/s authorize/s the Bank and/or its authorized representative to, when deemed necessary or relevant by the Bank,
  • pursuant to BSP Circular No. 472 Series of 2005 as implemented by BIR Revenue Regulations RR-4-2005, conduct random verification with the Bureau of Internal Revenue in order to establish authenticity of the Income Tax Returns (ITR), accompanying financial statements and such other documents/information/data submitted by the depositor(s), and/or
  • obtain or disclose such information regarding the depositor(s) or the loan/credit facilities applied for hereunder to any party as the Bank may deem necessary or as may be required or allowed by applicable laws, rules and regulations.
Depositor/s authorize/s:
  • the regular submission and disclosure of his/her/their basic credit data (as defined under Republic Act No. 9510 and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof for purposes of including said basic credit data in a centralized credit information system as mandated by law; and
  • the sharing of his/her/their basic credit data with Accessing Entities as defined in Republic Act No. 9510 and its Implementing Rules and Regulations authorized by the CIC, and credit reporting agencies duly accredited by the CIC.
Depositor(s) is/are aware that his/her/their personal information is collected and shared for purposes of providing the service, product and/or facility depositor/s has/have applied for or agreed to obtain from the Bank, or for purposes of complying with relevant government or legal mandate or requirement, Depositor/s hereby consent/s to the disclosure required by such product, service of facility to the enumerated third parties above and further authorize the Bank, its officers, employees or representatives and third parties as enumerated above, to obtain verify and review the information that he/she has provided and to use and process the same in evaluating his/her/their applications to avail of the Bank’s products and/or services, which include a broad range of credit, deposit and other financial products. Depositor/s likewise authorize/s the collection of his/her/their personal, use and processing, directly by the Bank or through its authorized third party service providers, business partners, consultants or advisers, which have satisfied the Bank’s requirements of corporate legal, information security, and data privacy, to either improve the Bank's product or service to me/us or the public in general or to market any other product, service or facility of the Bank which the Bank may determine to be of interest to me/us.

Depositor/s agree/s that his/her/their authorization and consent as provided herein has been executed freely, voluntarily and with full knowledge of its consequences. It is intended to be the consent and/or permission required under the DPA IRR, RA 1405 or the Bank Secrecy Law and all other relevant laws for the purposes specified above. It is valid as an agreement signed by the depositor/s and shall have continued effect throughout the duration of depositor/s relationship with the Bank and/or existence of my account(s), and/or until the expiration of the retention limit set by laws and regulations, and/or the period set until the destruction or disposal of records as mandated by relevant laws, unless depositor/s withdraw/s such authorization and consent in writing.

Depositor/s agree to render the Bank, its officers, employees and representatives free and harmless from any and all liabilities arising from the above use and disclosure of his/her/their information. Depositor/s certify/ies that the information he/she has/have provided in the Personal Information Sheet (PIS) or other form or document as required by the Bank is true, correct and complete and he/she agree/s to immediately and/or periodically update the same should there be any change, mistake or inaccuracy thereon. Depositor/s fully understand/s that said information may be used by the Bank to provide the service, product or facility the depositor has applied for or agreed to obtain from the Bank. Depositor/s understand/s that the contact information provided shall be used for all correspondences between depositor and the Bank unless depositor/s notify and promptly advise the Bank in writing of any change on said contact and other personal information.

Depositor acknowledges that he/she has read, understood and fully agree with the Bank’s Privacy Policy as found in www.unionbankph.com/privacy-policy and receipt of which he/she confirms by his/her/their signature/s below. Depositor/s allow/s the Bank to keep his/her/their personal information only for as long as it is necessary:
  • for the fulfilment of the declared, specified, and legitimate purposes provided above, or when the processing relevant to the purposes has been terminated; or
  • for the establishment, exercise or defense of legal claims; or
  • for legitimate business purposes, which shall be in accordance with the standards of the banking industry. Depositor authorize/s the Bank to dispose his/her/their personal information in a secure manner in order to prevent further processing, unauthorized access, or disclosure to any other party.
The account holder is responsible for the electronic notification received; as such, the Bank is free and harmless from any liability if the information contained in the electronic notification is, by any means, accessed by any person other than the customer.
Customer Information Update
The Bank shall be promptly notified of any change in information of the customer (e.g. change in address or contact information), otherwise, all correspondences shall be based on the information shown on the Bank's record. The customer shall be required to update customer information at least once every three (3) years or more often as deemed necessary by the Bank in accordance with its internal policies, rules or regulations. Changes in authorized signatory/ies are allowed only upon receipt by the Bank, of a written request from the account holder. For corporations, associations, clubs and other organizations, the written request must be supported by a Board Resolution. The Bank will not be liable to honor signatures that differ from the customer's specimen signatures on file.

AGREEMENT TO BE BOUND

These Terms and Conditions shall be applicable to UnionBank deposit accounts. These are supplementary to specific terms and conditions of other UnionBank products and services availed of by the customer.

The Bank reserves the right to adopt policies, rules, and regulations from time to time, as the need arises. The Bank also reserves the right to amend, in whole or part, any of the products and services and its corresponding terms and conditions. The customer hereby consents to said policies, rules, and procedures, and agrees to abide by them.

If the customer continues to operate the account after receiving the notification of changes in these Terms and Conditions, it is assumed that the customer agrees with the modifications.

Venue of any action arising from or related to these Terms and Conditions shall be brought only in the proper courts of Pasig City, Philippines, to the exclusion of any other venues.

In case any provision or portion of these Terms and Conditions is declared invalid or unenforceable for any reason or should the Bank decide to terminate or cancel any of the products or facilities or services which it provides, it shall not affect the other provisions of these Terms and Conditions which shall remain valid and binding.

COMPLAINTS HANDLING

In case of any concerns, complaints, errors or requests, the customer may visit the nearest UnionBank branch and contact the UnionBank Customer Service through the following numbers:

Customer Service: 84-186 or (02)8841-8600
Domestic Toll Free: 1800-1888-2277
Universal Toll Free: IAC+800-8277-2273
Trunkline: (02) 667-6388
The customer may also send an email to customer.service@unionbankph.com or submit the complaint via the UnionBank website. The Bank’s Customer Assistance Officers (CAO) shall explain the Consumer Assistance process and shall then provide a reference number upon receipt of complaint for complaint resolution monitoring and timelines depending on the type of concern/complaint/request (i.e. simple or complex).

The Bank’s Customer Assistance Officers (CAO) shall explain the Consumer Assistance process and shall then provide a reference number upon receipt of complaint for complaint resolution monitoring and timelines depending on the type of concern/complaint/request (i.e. simple or complex).
  • Simple complaint/request refers to any complaint/request where frontline staff/officer solution or immediate explanation or action can be rendered. A resolution is immediate if it can be resolved without the need for third party intervention. Resolution must be achieved within a 7-day period.
  • Complex complaint/request refers to any complaint/request which needs assessment, verification, or investigation with third-party intervention. Resolution may be achieved ideally within a 45-day period.
If during assessment and investigation of complex complaints/requests that cannot be completed within the expected time frame; the Bank’s CAO shall inform the customer or complainant through given contact information as to:
  • Reason why resolution cannot be completed within the timeframe provided.
  • The need for extended time frame.
  • The expected date (not to exceed 45 days) on which the complainant may expect the resolution.
The customer or complainant shall be informed by the Bank thru its CAO upon resolution of the complaint.

Union Bank of the Philippines is supervised by the Bangko Sentral ng Pilipinas with telephone number (02) 708-7087 and e-mail address: consumeraffairs@bsp.gov.ph.

BSP CIRCULAR 857 Financial Consumer Protection