Terms and Conditions
- I have read, understood and hereby agree to Security Bank Corporation’s (BANK)terms and conditionsfor opening and maintaining accounts as set forth on the websitewww.securitybank.comwhich may be amended from time to time and I agree to abide by the same;
- By opening an account online with the BANK, I am fully aware that this involves the transmission of personal data, and information through the internet and I fully assume all risks involved relevant to this transaction;
- I agree to provide the necessary KYC documents and information required for account opening and warrant the same are genuine, true, accurate and valid at the time of submission to the BANK. I undertake to immediately inform the BANK of any changes in the above.
- Any document and information that I provide online through the Security Bank Online Application (SBOL) or the Security Bank Webpage shall be used by the BANK for Know-your-customer (KYC) validation for purposes of account opening;
- The BANK shall send me a reference number and shall validate the KYC information and documents that I provided online through its customer service and/or mobile application, at the discretion of the BANK. Once validated, the BANK will confirm the account opening through electronic mail, video or phone call or SMS.
- For limited or restrictive accounts only: I confirm that I have not opened any such accounts with any other bank and I do not have valid identification required by the BANK’s KYC policy. I further acknowledge that I have been informed of the limitations of accounts so opened until the completion of KYC process namely-
- Aggregate Balance up to P100,000.00 only on all deposit accounts.
- Prohibition on receipt of foreign wire transfers/remittance
In case of non-submission of the valid ID and non-compliance with the complete KYC process within a year of account opening, I understand that my account(s) shall be closed without further notice.
- The BANK reserves the right to limit the use or close the account upon failure of the customer to submit the necessary KYC documents and information, violation of the terms of declaration and terms and conditions in item 1 or non-compliance with the regulations of the Bangko Sentral ng Pilipinas and the Anti-money Laundering Council (AMLC).
- The right in the preceding section is without prejudice to the other rights and remedies available to the BANK under this Agreement and existing provisions of law. Notwithstanding any contrary provision, I agree to indemnify and hereby renders the BANK free and harmless from any liability whatsoever which may arise as a result of or in connection with my non-compliance with my undertakings herein.
GENERAL TERMS AND CONDITIONS
The following are the general terms and conditions that apply to accounts opened, and any future account/s that the Depositor may open with Security Bank Corporation. By signing the required account opening forms, the Depositor agrees that our account/investment relationship shall be governed and bound by these Terms and Conditions. Security Bank Corporation and the Depositor, our customer, agree that the word “BANK” shall refer to any and all units and branches of Security Bank Corporation. The word “DEPOSITOR” or “CLIENT” shall refer to the person or persons opening and maintaining the account/investment relationship with the BANK.
The word “ACCOUNT” shall refer to one or all accounts opened, maintained, and existing, whether Active or ant, by the Depositor. Security Bank Corporation, and the Depositor, our customer, agree that “Debit” means deduction from the Depositor’s account, and “Credit” means addition to the Depositor’s account.
SUBMISSION OF DOCUMENTARY REQUIREMENTS
The Depositor agrees that the BANK shall open the account upon complete submission of all regulatory and bank documentary requirements. By opening the account, the Depositor agrees to be bound by the BANK’s policies, together with the terms and conditions stipulated in this agreement, including all other existing laws and regulations. Should the BANK agree to provisionally open an account pending the completion of the documentary requirements, the BANK reserves the right to unilaterally close the account if the pending requirements are not received by the BANK within 20 calendar days, for Individual clients or 45 calendar days for business clients. In any case, the BANK reserves the right to close automatically, freeze or place in an inoperative status any account, should the Depositor fail to 1) submit documentary requirements for account opening within the extension period after provisional account opening, 2) update/reply to the BANK’s formal request for status update on pending government applications which would change client’s account status, or 3) if the BANK has reasonable grounds to believe that the account is being misused, or the individual/entity operating the account was known subsequently to pose undue risks to the BANK.
FAILURE OF VERIFICATION
The BANK shall exert efforts in ascertaining the accuracy of the information given by the Depositor in the Customer Information File (CIF) or Account Opening Form (AOF) Folder. Should the BANK have reason to believe that any of the information furnished by the Depositor therein is false, inaccurate, erroneous or is otherwise not capable of verification, the BANK shall have the right, and is so hereby authorized to close the account without notice to the Depositor. The BANK shall not be liable for whatever losses or damages that may arise against the Depositor as a result thereof.
DISCLOSURE OF DEPOSITOR INFORMATION
The BANK shall treat information relating to the depositor, deposit account and transactions on the deposit account as confidential. However, in order to facilitate banking transactions and subject to remain in effect for five (5) years after account closure, the Depositor authorizes the Bank to disclose information relating to the depositor, deposit account and transactions on the deposit account, to the following: (1) Other banks, financial institutions, credit agencies or credit bureaus for the purpose of profiling, credit evaluation/reference checks, verifying authenticity of information provided by the Depositor or to address queries relating to anti-money laundering due diligence on transactions that were coursed through the BANK; (2) Counterparties and their respective banks in relation to fund transfers, payments, drawing of checks, and other transactions; (3) Agents, contractors or third party service providers who provide operational services to the BANK, such as courier services, telecommunications, information technology, payment, payroll processing, training, market research, storage, archival, customer support investigation services or other services to the BANK; (4) Regulatory or government agencies to comply with existing laws, rules and regulations.
All deposits must be made by the Depositor personally or by his authorized representative by filling out the appropriate deposit slip. The BANK shall consider any person depositing for, and on the Depositor’s behalf, as duly authorized by the Depositor to perform the deposit transaction. The BANK shall accept deposits, investments or payments either in cash, check or debit from another account/s. In accepting checks as deposit, the BANK shall act merely as a collecting agent, and shall have no responsibility beyond the exercise of due care in transmitting the items electronically via Check Image Clearing System (CICS) of PCHC, where the physical check is not included in the collection or return process, as a payment instrument. The Depositor shall not be credited for nor shall the Depositor be allowed to withdraw the amount corresponding to the said checks until cleared funds have been actually received by the BANK. Checks received after the BANK’s cut-off time shall be processed on the next banking day. For acceptance of crossed checks payable to one depositor for deposit to a joint “AND” or “OR” account of said depositor, the depositor commits and undertakes to indemnify the BANK in the event that the issuer of the said check or any affected third party complains, objects, or otherwise files a claim against the BANK as a result of said accommodation. Should the BANK accept for deposit, checks that are not endorsed by the payee, the depositor holds the BANK free and harmless from any and all liabilities, claims and demands of whatever kind and nature that may arise from said accommodation. All endorsements or lack of endorsements on the checks deposited with the BANK are guaranteed by the Depositor. Proceeds of deposit or collection items shall be credited to the Depositor’s account, net of service charges that may be collected by the BANK or by the drawee/collecting bank. The BANK shall not be liable for items lost in transit.
The Depositor shall have full responsibility for the correctness, genuineness, and validity of all items deposited as well as of all endorsements, signatures and information found thereon. For all deposits including, but not limited to, deposit subject to count arrangement or for later verification, the Depositor acknowledges that the BANK’s count is deemed accurate and final. All notes and coin deposits must be sorted according to denomination and the BANK’s prescribed number of pieces per bundle/bag prior to acceptance. The BANK has the right to debit automatically, the Depositor’s account for any shortages or discrepancies due to counterfeit or out-of- circulation cash notes/coins, insertion, and/or errors in counting, which were found after our receipt of cash items, despite any machine-validated or manually-signed acknowledgement receipt. The BANK reserves the right to refuse any deposit contemplated herein should such refusal be necessary to protect the BANK’s own interest. The BANK shall be held free and harmless from any claim or dispute arising from the execution and implementation of the present Terms and Conditions. In making a deposit, the Depositor agrees to assume full responsibility for the accuracy and correctness of the information filled out in the deposit slip, and the Depositor further agrees to hold the BANK free and harmless from any liability for losses due to any discrepancy therein, such as but not limited to, the statement of an incorrect account number although the name of the Depositor is correctly written. The Depositor agrees that for Foreign Currency accounts that the Depositor opens, these shall be funded purely by foreign currency receipts eligible for deposit under CB Circular No. 960 as amended by CB Circular No. 1318, and the Depositor undertakes to hold the BANK free and harmless from liability for deposits made in violation of said law, rules and circulars. The BANK shall endeavor to keep on hand an updated balance of the Depositor’s account. It is however the duty of the Depositor to periodically ascertain from the BANK the actual balance based on cleared funds.
The BANK has the right to offset the deposit against any indebtedness owed by the Depositor to the BANK without need of prior notice to said Depositor. Deposits under hold-out, garnishment, sequestration, with adverse claim, or any other legal/contractual impediment, are not subject to withdrawal up to the amount covered by the lien or claim. Nevertheless, should the Depositor succeed in withdrawing the levied amount, in whole or in part, the Depositor shall deposit back the amount corresponding to the amount withdrawn not later than three (3) business days from notice by the BANK. When the account is closed, whether by the BANK or by the Depositor, the BANK may require the Depositor to surrender all unused checks before the balance of the account is released. The BANK shall not be liable for any loss or damage incurred by the Depositor or a third party due to computer programming defects, errors due to faulty communication lines, or any defect in the material or workmanship of any computer equipment. Article 1250 of the Civil Code of the Philippines shall not apply to the account.
Withdrawals or funds transfers must be made by the Depositor personally or through an authorized representative upon presentation of the passbook, a duly accomplished withdrawal/debit slip via over-the- counter or through the use of other available facilities (ATMs, Phone Banking, Internet Banking, etc.). Signature of the representative should be duly authenticated by the Depositor on the withdrawal/debit slip. At the BANK’s discretion, withdrawals may be made in amount/s exceeding his withdrawable balance which represents the Depositor’s ledger balance less uncollected check deposits and deposit with lien. However, for any withdrawal, the BANK may require a 7-day advance written notice, whenever in the opinion of the BANK, the same may be deemed advisable. The Depositor is allowed a certain number of withdrawals / funds transfer from his account in any given month (depending on the product), in excess of which, the BANK reserves the right to impose a service charge or a lower interest rate. The BANK does not warrant availability of foreign currency notes at all times to meet withdrawal requirements. In case of non-availability of currency notes, withdrawals may be in the form of telegraphic transfers, demand drafts, mail transfers or in the currency which is legal tender in the Philippines. If the Depositor opts to withdraw in the form of telegraphic transfer, demand draft or mail transfer, the same shall be construed as an application for such services and may be subject to the usual processing fees.
SECURITY BANK ATM CARD / MASTERCARD DEBIT CARD
The SECURITY BANK ATM CARD/MASTERCARD DEBIT CARD (“CARD”) is issued to the Depositor (“the cardholder”) together with a corresponding PIN Mailer to be used on the BANK’s or other bank’s Automated Teller Machine (ATM). The card can also be used as a debit card to make purchases with or without a PIN CODE on any physical or online Point of Sale (POS) terminal networks or any other electronic devices and online facilities installed by the BANK in which the card is applicable. For security purposes, the cardholder should immediately affix his signature at the back of the ATM Card upon receipt. For the cardholder’s protection, the Depositor agrees, at all times, to: (a) immediately change the computer-generated PIN upon receipt; (b) safely keep the ATM Card and PIN in the Depositor’s sole possession; (c) not disclose the PIN, record it on the ATM Card or otherwise make it available to anyone under any circumstance.
LOSS OF THE SECURITY BANK ATM CARD/MASTERCARD DEBIT CARD
The Cardholder shall immediately make a phoned-in report to the BANK for any loss, theft, and known or suspected unauthorized use of the Card. The Cardholder shall be liable for all authorized and unauthorized ATM or Debit Card transactions, including any withdrawals and purchases using the Card. The phoned-in report shall automatically free the Cardholder from any liability but any unauthorized charges made against the lost/stolen CARD prior to the phoned-in report shall be for the exclusive account of the Cardholder.
FOREIGN CURRENCY ATM CARD/MASTERCARD DEBIT CARD TRANSACTIONS
For transactions made in foreign currencies in the Philippines or abroad, the manner of conversion from the transaction currency to the payment currency (Philippine Pesos) would be automatically made using prevailing exchange rate of Security Bank and/or the international network where the transaction was coursed through at posting date.
Any funds transfer to own account or third-party account, made by the individual or corporate clients thru branch should be documented in writing via transfer application form or client’s letter of instruction and signed by the Depositor/s, following the account’s signature rules. Funds transfer made via e-channels (SBOL, DigiBanker, ATM) are confirmed by the depositor to have been made or authorized by encoding PIN or password, known only to the client. Should the requested transaction be incapable of being performed by the BANK in the manner instructed by the Depositor, without the BANK disclosing details about the Depositor and/or the Depositor’s account, the execution of the funds transfer request shall be deemed as the Depositor’s express authority to the BANK to make such disclosure within the terms of the applicable regulation, and without any need for any prior notice or further consent or documentation. By the foregoing authority, the BANK shall not be in violation of any of the secrecy laws for making such disclosures. Further, the Depositor warrants that the funds subject to any funds transfer transaction originate from bonafide transactions and shall be used for legal purposes. Further, for any funds transfer credited to the Depositor’s account, the BANK should be notified in writing within one (1) day from the date of credit in case the Depositor does not want to accept the credit and stating the reason thereof. The BANK shall be free and harmless from any liability or complaint arising for any funds transfer credited made to the Depositor’s account.
AUTOMATIC FUNDS TRANSFER SERVICES
For automatic funds transfer services, the Depositor shall be required to accomplish and sign the back portion of the Accounts Opened and Signing Instruction Form (AOSIF) or Signing Instruction Form (SIF) or Individual/Corporate Fund Transfer Application and Maintenance Form, which shall support the Depositor’s standing instruction to avail any of the following specific type of Funds Transfer services:
- Security Check Protector – is a fund transfer facility, which enables clients to transfer their money to their Checking Accounts in order to avoid the hassle of insufficient funds, linking to a maximum of three (3) other movement (Checking/Savings) source accounts. Under this facility, recipient accounts obtain funds from the source accounts every time the Checking Account balance falls short in funding in-clearing checks or other debit transactions.
- Security Scheduler – is a fund transfer facility which enables the system to transfer automatically a specified amount from a client’s enrolled movement account (Checking/Savings Accounts) to another designated account at a specified time or frequency to settle obligations, transfer allowances or meet funding requirements for his business. Under this facility, the client may enroll various recipient accounts to be linked to his personal/source accounts or vice versa. Frequency and amount to be transferred can be set to each recipient account as dictated by the client.
- Security Maximizer – is a fund transfer facility, which enables the client to transfer automatically excess/surplus funds from his account to other accounts. Under this facility, the client may enroll a source account to as much as three (3) receiving accounts wherein he may set the minimum and maximum amounts to be transferred to each recipients whenever there are excess funds from the source account.
Whenever a fund transfer to be made in this facility falls on a Saturday, Sunday or public holiday under the Laws of the Republic of the Philippines, such transfer may be made in the next succeeding banking day. Joint accounts can be enrolled provided that all Accountholders sign on the required application form.
Linking of third party accounts may be allowed provided said third party accounts shall be receiving accounts only. The owners of the third party accounts to be enrolled shall be required to sign in the enrollment portion of the required application form. Instructions for any changes, cancellation, and/or revisions relating to the conduct of the Fund Transfer Services shall remain in force unless sooner revoked by the Depositor/s in writing. The Fund Transfer Services shall be made / used for legitimate purposes, and shall not be used for Money Laundering or for any other illegal purposes. The BANK may, at any time and for whatever reason, reject any transaction without incurring any liability. The BANK shall not be held liable for any indirect, incidental, or consequential loss, loss of profit, or damage suffered by the Depositor by reason of error or failure to complete or effect transaction if said error or failure resulted from accident, force majeure, strike, war, viruses, tampering, fraudulent use, or misuse or the Depositor’s noncompliance with the stated procedures.
POSTING OF TRANSACTIONS
All transactions posted to a Depositor’s account shall be validated on a bank’s transaction slip (i.e. deposit slip, withdrawal/debit slip, MTAF, etc.) and are for the account of the Depositor. However, in the event of any crediting error, misposting, erroneous posting or discrepancy in posting of cash, check or funds transfer to the Depositor’s account, due to technical or human errors in posting a transaction in the system, which may be found after rigid verification process of transactions is conducted in accordance with the bank’s internal policies, the BANK reserves the right to automatically debit the Depositor’s account without the express authority from the latter or prior written demand from the Bank.
SECURITY BANK ONLINE SERVICES
The Depositor acknowledges that once the Terms and Conditions detailed on the Security Bank Online enrolment page has been accepted during enrolment in the facility, he is deemed to have agreed thereto. Among others, the Depositor agrees and accepts, that:
- The Depositor understands the corresponding risks entailed in availing of the services in Security Bank Online. The Depositor understands that all other Terms and Conditions governing the services offered in Security Bank Online shall remain in full force and effect. The Depositor is bound by any and all laws, rules, regulations and official issuances applicable to Security Bank Online now existing or which may thereafter be issued or communicated by the BANK through whatever means, as well as such other Terms and Conditions governing the use of other facilities, benefits, or service which the BANK may make available to the Depositor in connection with Security Bank Online. The Depositor likewise agrees that the Depositor’s continued use of Security Bank Online thereafter shall constitute the Depositor’s acceptance of the modifications and revised Terms and Conditions.
- By accepting the terms and conditions and by using Security Bank Online, the Depositor is bound by the Terms and Conditions governing the same, its nature, present and future functionalities and operating features, and to pay any applicable fees associated with the use of the same. Acceptance of the terms and conditions online would amount to acceptance in writing.
A minimum maintaining average daily balance as set by the BANK shall be required for all accounts. A monthly service fee as posted in the bank premises and at the bank website (www.securitybank.com) shall be charged to the account whenever its balance falls below the minimum average daily balance requirement for two (2) consecutive months. The BANK reserves the right to change the minimum balance requirement and corresponding charges therein
The Depositor agrees that the Depositor’s account/s, whether active or dormant, shall be subject to such service charges imposed by the BANK. The BANK shall have the right to deduct such charges against the account/s and such right shall have preference over the payment of any checks/drafts, which may have been drawn from the Depositor’s account/s. Thus, the BANK shall not be liable for the dishonor of the Depositor’s checks/drafts because of insufficient funds caused by such deduction. Checks drawn against insufficient funds or uncollected deposits shall be subject to service charges whether subsequently funded or returned. A nominal charge shall be collected on accounts which are closed within 30 days from the date of opening. A monthly service charge imposed by the BANK shall be charged if the daily balance of the Depositor’s account/s falls, at any time during the month, below the minimum maintaining balance required by the BANK. Accounts with zero balance due to service charges or other causes may be closed by the BANK without prior notice to the Depositor. Such service charges to be imposed by the BANK shall be provided to the client as Attachment to the Terms and Conditions to be sent via Statement of Account (SOA) or Thank you Letter, and posted in the bank premises and at the bank website (www.securitybank.com). The BANK reserves the right to change the minimum balance requirement and corresponding charges therein.
Current / Checking accounts with no activity (deposit / withdrawal / encashment) for one (1) year and Savings accounts with no activity for two (2) years shall be classified as dormant. Dormant accounts shall be subject to minimum monthly service charge if they fall below the required minimum monthly balance. The minimum monthly service charge may be amended by the BANK from time to time as circumstances may warrant. Accounts with zero or negative balance due to service charges or other causes may be closed by the BANK. Deposits remaining dormant for more than ten (10) years shall be escheated in favor of the National Treasury as provided by law.
The BANK reserves the right to close the account at any time without prior notice to the Depositor if the account is, in the BANK’s opinion, not maintained in a satisfactory manner, when the account is being used as a tool for the commission of fraud or any other crime or when the continued existence of the account with the BANK would prejudice its interest in any way. Should closure of the account be effected by the BANK as a result of improper handling through the issuance of insufficiently unfunded check/s, the BANK is authorized to report such closure and the reason/s thereof to the Bankers Association of the Philippines (BAP), or to any central monitoring body established by the BAP to record and monitor the mishandled deposit accounts of its member banks. The Depositor further agrees to hold the BANK free and harmless from any liability for losses due to any or all liabilities, claims, demands of whatever kind and nature in connection with or arising from (a.) The closure of the account and/or (b.) The dishonor of any check thereunder which may be presented to the BANK after the closure of the account and/or (c.) Reporting by the BANK of the closure of the account and the reason/s thereof to the BAP.
CLOSURE OF ACCOUNTS
A Current Account/Savings Account may be opened with a minimum initial deposit in the amount set by the BANK. For client-initiated closing of an account, a withdrawal/debit slip shall be filled out for the entire amount of the balance outstanding in such account. The BANK may close an account any time without prior notice to the Depositor, if the deposit balance becomes zero, due to collection of service charges by the BANK or withdrawal by the Depositor, or for violation of existing rules and regulations of the BANK, the Bangko Sentral ng Pilipinas, Anti-Money Laundering Council, Bankers’ Association of the Philippines, or any other agency to which the BANK may be affiliated, or for such other reason which the BANK may deem reasonable for the protection of its interest. A nominal charge shall be collected on accounts which are closed within 30 days from the date of opening. The BANK may, at any time, return to the Depositor his deposit together with the interest due. The Depositor/s may be notified either personally or by mail of the BANK’s intention to close the account and the interest will cease from the date of such notification. Deposits may be withdrawn only in the manner provided therein.
The account shall earn interest net of applicable withholding tax if it meets the required minimum balance set by the BANK. Interest earned shall be credited to the Depositor’s account at the end of every month or quarter, whichever is applicable. A reduced interest rate may apply if the account fails to meet the required frequency of withdrawal per quarter. A check item accepted for deposit does not earn interest until after the proceeds of such item have been cleared and fully credited to the account. No interest shall be paid on the account if (a) for ten () consecutive years there is no deposit, withdrawal, or notice from the Depositor; or (b) the account is closed before the end of the month. No interest shall be paid on dormant accounts or when the BANK has requested the Depositor to close his account in which case, the account stops accruing interest as soon as the BANK transfers the balance to Accounts Payable or issued a Manager’s Check in favor of the Depositor.
Interest rates are computed as follows:
Daily accrued gross interest= End of Day Cleared Balance x Applicable Interest Rate x 1/365
Interest payout (net of tax)= Sum of all accrued interests for the month or for the quarter less Applicable Tax Rate
Note, however, that: a) Payout of interests for CASA is either monthly or quarterly, depending on the product type; and b) The computation above does not include special bonus interests or penalty interests rules for certain deposit products.
STATEMENT OF ACCOUNT
The Statement of Account (SOA) is the official record of the transactions and balances of the account. It shall be provided to the Depositor periodically either through pick-up from the Depository Branch, or electronic mail/e-mail to the e-mail address provided by the Depositor depending on the regulatory requirements on the matter. As advised in the SOA, the Depositor should promptly notify the BANK through 24-hour Customer Service hotline at (632) 88-791-88 or e-mail at [emailprotected] of any exceptions noted in the statement within twenty (20) calendar days from receipt thereof. Otherwise, the Depositor shall be deemed to have accepted the correctness of the statement. For a Depositor opting to have his SOA emailed, the Depositor shall inform the BANK immediately in case of any change in his e-mail address. Should the Depositor request for a statement of account prior to his cycle date, his account shall be debited for the processing fee. Special statements, on the other hand, shall be available at the Depository branch for pick-up by the Depositor or his duly authorized representative. The BANK reserves the right to destroy monthly bank statements including any related cancelled/paid checks and/or any debit/credit memos remaining unclaimed for a period of 90 calendar days from the time the SOA was made available for pick-up, or from the time it was e-mailed, or from the time the SOA, and scanned copies of the issued checks (if available) were sent via e-mail. Securing the designated e-mail address against unauthorized use shall be the sole responsibility of the Depositor. In opting to receive the SOA via e-mail, the Depositor assumes the risks involved in e-mail transmissions, such as but not limited to, the risk that the information may not be delivered, the account information becomes exposed to unknown third parties and lose its confidential nature, the risk that the e-mail account is hacked and such other risks inherent in e-mail communications. The e-mail of the SOA to the Depositor is one-way and informational in nature. Sending an e-mail message to the e-mail address used by the BANK in sending the SOA, or replying to e-mail messages sent by the BANK therefrom will produce no useful results. Further, the BANK shall not be faulted in cases when the SOA is not e-mailed to the Depositor due to circumstances beyond the BANK’s control, including but not limited to network congestion, transmission interference, internet/e-mail service provider downtime, etc. As such, the Depositor agrees to hold the BANK free and harmless from liability for any damages that may arise as a result thereof
Checkbooks shall be issued only to the accountholder personally, or to an authorized representative upon receipt by the BANK of an accomplished and duly signed checkbook requisition slip. The Depositor shall exercise care in requisitioning for additional checkbooks. To ensure continuous supply of the checkbooks, the requisition by the Depositor must be made at least one (1) month in advance of the expected delivery. Checkbooks shall be issued to the Depositor for a fee to be debited from the account of the Depositor upon checkbook order (via automatic checkbook re-order facility, over-the-counter request or alternate channels). Charges are subject to increase without prior notice to the client. Checkbooks requested through different alternate channels are deemed final. Checkbook requests done through the use of other available facilities (ATM, Phone Banking, etc.) shall be processed accordingly. It is understood, however, that requests made by accounts with insufficient balance to cover the cost of checkbook shall not be processed. Ordered checkbooks must be claimed within 90 calendar days from the date of requisition, otherwise, these checkbooks shall be destroyed. The Depositor shall safeguard all utilized checks with utmost care to preclude any possible loss and/or pilferage. Checkbook loss should be reported to the BANK immediately in writing. The BANK shall not be held liable for lost checks which are honored by the BANK before written notice of loss is received. The Depositor shall be fully responsible for all checks issued under the Depositor’s account. Neither the BANK nor its correspondent bank(s) shall examine the checks for any irregularity. The BANK also reserves the right not to release the checkbooks ordered if account is deemed improperly handled. The BANK would not be liable for any bank charges, such as but not limited to, Returned Checks and Other Cash Items (RCOCI) charges and Minimum Balance (MINB) charges that shall arise as a result of the debit of the checkbook charges.
STOP PAYMENT ORDER (SPO)
The SPO shall take effect on the next banking day from the date of the acceptance of the Depositor’s request for an SPO. The Depositor shall not hold the BANK liable if payment is made or accrued before the SPO is effected. No SPO or the renewal thereof shall bind the BANK unless: (i) made in writing; (ii) the check is described in all particulars; and (iii) served upon any Authorized Officer of the BANK’s branch where the account is maintained. The service of a request for stop payment, or its renewal, upon the branch of account shall not constitute notice, actual or constructive, to any other branch. The SPO shall be effective for 180 days counted from receipt by the BANK of the request, renewable for no longer than another period of 180 days counted from receipt by the BANK of the request for renewal. By directing the BANK to stop payment on a check, the Depositor agrees to indemnify, and hold the BANK harmless against, and from any and all losses, claims, damages or expenses which the Depositor or any person shall suffer as a result of the non-payment of any check under the Depositor’s SPO. In case of joint “or” accounts, the SPO shall be made only by the drawer of the check. On-Us Check/s payable to the BANK, i.e., Security Bank, SB, Security Bank Corporation, SBC, the BANK, Security Bank and Trust Company, SBTC or any of its affiliates and subsidiaries, such as but not limited to, Security Bank Savings, SB Cards Corporation, SB Cards, SB Capital Corporation, among others, shall not be accepted for SPO.
PASSBOOK OR RECORD BOOK
The Depositor shall be furnished with a Passbook or Record book where the BANK shall, upon presentation of the Passbook or Record book, record all deposits/withdrawals made. No entries in the Passbook or Record book shall be made except by the BANK. However, mere possession of the Passbook or Record book shall not be presumed or deemed as acceptable proof of the balance of the account as deposits and withdrawals may be allowed at the BANK’s discretion, without presentation of the Passbook or Recordbook. The Passbook or Recordbook is neither transferable nor assignable, and cannot be pledged or assigned as security in favor of any party other than the BANK (for Passbook). Except for computer-generated entries, typewritten or manual entries, and any other alteration, superimposition or erasure on the passbook shall render said entries void and invalid. In case of any discrepancy or inconsistency between the entries in the Passbook or Recordbook and Bank Records, the latter shall prevail and shall be the basis for allowing withdrawals and other transactions.
In the payment of funds or transaction of other business on the account, during the lifetime of all the joint accountholders, the BANK shall follow the authority given by the Depositors in the AOSIF or SIF thus, any one, any two, any three, all, etc. Any of the Depositors may deposit and endorse for deposit in the account, checks, drafts, bills of exchange and/or other instruments for the payment of money payable or purporting to belong to any one or more of the Depositors. The BANK is authorized to honor and pay any debit from the account instruction, issued checks or other written orders by any one, any two, or all of the Depositor/s in accordance with the authority so given by them in the AOSIF or SIF, all without the need of inquiry by the BANK as to the use or disposition of the funds so withdrawn. The Depositors are jointly and severally liable for the payment of any obligation to the BANK in connection with the operation of the account. In compliance with Section 97 of the National Internal Revenue Code, the BANK shall freeze or hold any withdrawal from an account maintained by a Depositor, whether alone or jointly with another, upon knowledge of said Depositor’s death, unless a certification from the Commissioner of the Bureau of Internal Revenue that Estate taxes have been paid is shown. The release of the hold shall be subject to the submission of the other requirements of the BANK for deceased Depositor accounts.
In accordance with the authority given by the Depositor/s in the AOSIF or SIF and USSC or the Secretary’s Certificate of Partnership/Board Resolution, the BANK shall recognize the signature of any one, any two or all the authorized signatories in the payment of funds or transaction of other business on the account, unless revoked in writing by the Depositor. The authorized signatories may deposit and endorse for deposit in the account, checks, drafts, bills of exchange and/or other instruments for the payment of money payable or purporting to belong to the firm. The BANK is authorized to honor and pay to the debit of the account, checks or other written orders of the Depositor’s authorized signatory/ies, without a need to inquire as to the use or disposition of the funds so withdrawn.
The deposit balance under hold-out may not be withdrawn while the hold-out / lien remains in full force.
The Bank may reject any transaction without incurring any liability, if in its reasonable opinion, facilitating the transaction constitutes an unsound banking practice as defined under the BSP regulations, or is in breach of any other applicable law or regulation.
OFFER AND ACCEPTANCE OF OTHER BANK PRODUCTS
The Depositor may avail of consumer loans or additional bank products (but not limited to auto loans, credit cards, etc.) subject to the BANK’s terms and conditions. Acceptance by the Depositor of the credit card or the proceeds of any loan released pursuant thereto shall be conclusive proof of the Depositor-Borrower’s Acknowledgement of his/her additional indebtedness to the BANK under the Terms and Conditions set forth by the BANK prevailing at the time the additional loan is approved.
RETENTION OF DEPOSITOR INFORMATION
The Depositor is hereby informed that the BANK follows the required retention periods in the safekeeping of records and/or information belonging to the Depositor as set by the Bangko Sentral ng Pilipinas and pursuant to existing laws and regulation. The Depositor hereby agrees that records and/or information belonging to the Depositor may no longer be available if requested beyond the aforementioned retention periods as these records and/ or information may have already been validly disposed of by the BANK.
Applicable deposit accounts are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum of Five Hundred Thousand Pesos (P500,000.00) per Depositor. The rules of the PDIC related to deposit shall apply. PDIC shall presume that the name/s appearing on the certificate of deposit is/are the actual/beneficial owners of the deposit, except as provided therein. In case of transfer or break-up of deposits, PDIC shall recognize actual/beneficial ownership or 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 transfer or break-up of deposits in favor of entities, either singly or jointly with individuals, and (b) transfer or break-up of deposits in favor of non-individual relatives whenever such transfer or break-up shall result in increased deposit insurance coverage, PDIC shall recognize the beneficial ownership of the entity or transferee provided that the deposit account records show the following: i.) details, or information establishing the right and capacity or the relationship of the entity with the individuals; ii.) details, or information establishing the validity or effectivity of the deposit transfer; or iii.) copy of the 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 the consolidation with the other deposits of the transferor. PDIC may require additional documents from the Depositor to ascertain the details of the deposit/transfer or the right and capacity of the transferee or his/her relationship to the transferor.
INQUIRIES OR COMPLAINTS
For inquiries and complaints, please call our 24-Hour Customer Service hotline at (632) 888-791- 88 or e-mail us at [emailprotected]Security Bank Corporation is regulated by the Bangko Sentralng Pilipinashttps://www.bsp.gov.ph
VARIATION OF TERMS AND CONDITIONS
The BANK reserves the right to change any or all of these terms and conditions. The Depositor shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Depositor does not agree with the new/revised terms and conditions have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.
All notices, statements, account information and other matters may be mailed or delivered toclient’s last known mailing or electronic mail address as specified in the bank records.
EFFECTIVITY OF OTHER TERMS AND CONDITIONS
The terms and conditions of the Depositor’s other accounts shall remain in full force and shall be read and construed to harmonize with these Terms and Conditions.
DISPUTES OR DISAGREEMENTS
In case of corporate disputes or disagreements among co-depositors pertaining to the account or the funds therein, for the protection of its interest, the BANK shall have the right to freeze or place the account in an inoperative status until the opposing parties agree upon a mutual resolution or until otherwise directed by a court of law or similar body/entity.
These terms and conditions are governed by the laws of the Republic of the Philippines.
Revised as of November 2022
Which Philippine debit card can be used internationally? ›
PNB Debit MasterCard - Philippine National Bank. PNB Debit MasterCard is a PIN-based ATM Card which provides 24/7 banking convenience using various channels. The card can be used across the globe wherever MasterCard and Maestro is accepted. It can be used for cashless purchases at over 32 million shops worldwide.Why is my debit card declined when I have money? ›
There are a number of issues that could result in a debit card decline. For starters, you could be mistaken about your balance, or you may have reached your daily limit for withdrawals. The bank may feel the transaction is suspicious, based on your purchase history. Technical issues may also be to blame.Which bank gives Visa debit card in Philippines? ›
CIMB Bank Philippines is an issuer partner of Visa. The Visa debit card allows CIMB Bank customers to perform ATM withdrawals, make in-store purchases, and transact online locally or overseas.How do I check my Security Bank debit card balance? ›
Simply text the following keywords using your registered mobile number: Outstanding Balance Inquiry: SB[space]OB[space]last 4 digits of your card number and send to 2086 for Globe & TM Subscribers and 4629 for SMART & TNT Subscribers.Can I use my debit card from USA in Philippines? ›
Yes, credit cards and debit cards issued in the U.S. will work in the Philippines as long as the vender accepts that card type (Visa, MasterCard, American Express, Diners Club, etc.).Can I use my US Visa debit card in Philippines? ›
With Visa Debit, you can use your card everywhere that Visa is accepted -- sign for purchases or use a PIN to verify, and you're done. Better security – Visa monitors your account 24 hours a day to help prevent, detect, and resolve fraud on your Visa Debit card.What US bank can I use in the Philippines? ›
Two U.S. banks have representative offices in the country: Wells Fargo Bank and Bank of New York Mellon. Reflecting a long history of economic and political ties, all commercial banks in the Philippines have correspondent U.S. banking relationships.Can I use my foreign ATM card in Philippines? ›
The Philippines ATM PINs
That means that many ATMs can accept PIN codes of varying lengths. If you have a chip and PIN card with a 4 digit PIN - from Europe, the UK or Australia, for example - it should be accepted in the Philippines with no problem.
- GCash Mastercard – widely used e-wallet in the Philippines. ...
- Maya – 4.5% base interest rate per annum. ...
- UnionBank Lazada Debit Card – discount vouchers and cashback rebates. ...
- BDO – one of the banks with the most ATM machines across the country.
Debit cards typically expire every two to three years. When your debit card is close to expiring, your bank or credit union will typically automatically send you a new one. This is one of the reasons why it's important to have your current address on file with your financial institution.
Can I use my Security Bank debit card abroad? ›
It is an international Debit and ATM MasterCard that you may use for ATM withdrawals, point of sale and online purchases both locally and abroad.How much is the maximum withdrawal for Security Bank? ›
*Over-the-Counter (OTC) at any Security Bank branches – up to 30,000 maximum withdrawal limit per day. **The replenishment of our Credit Limit will take effect every after posting of payment. Was this article helpful?Why is my bank saying insufficient funds when I have money? ›
Why does it say I have insufficient funds available, when I have money on my account? The reason it says you have insufficient funds is likely due to the fact that there automatically is reserved an amount on your account.Why is my debit card not working? ›
Lack of available funds. Expired card information is being used. Possible magnetic strip damage (in this case, you'll need a new card). PIN was entered incorrectly.Is there a limit on my debit card? ›
With a debit card, there is no credit limit. Debit card approvals depend on the available balance in your linked checking or savings account and any overdraft protection you may have on the account.How much money can I take to Philippines from USA? ›
The transportation of foreign currency or monetary instruments is legal. However, the carrying of foreign currency in excess of US$10,000.00 or its equivalent in other foreign currencies must be declared to a Customs Officer or the Bangko Sentral ng Pilipinas.
The currency of the Philippines is the Philippine peso (PHP). Some ATMs accept international credit and debit cards. Shops in towns and cities usually accept international credit cards.Can I open a bank account in the Philippines while in USA? ›
Who can open a bank account in the Philippines? Anyone can open a bank account in the Philippines. In the past, non-residents, including those holding a temporary visitor's visa, couldonly open a foreign currency deposit account, or a peso account funded by foreign currency deposits converted to peso.Which US debit card can be used internationally? ›
Things to consider when making payments overseas
Foreign merchants may take payments from Visa, Mastercard, American Express and Discover credit cards, although acceptance in some countries may be limited compared to within the U.S. To save money, try to use a credit card that doesn't have a foreign transaction fee.
Yes. Wells Fargo cards can be used internationally anywhere the card network is accepted.
Where can I withdraw USD in Philippines? ›
The only ATMs dispensing USD here in the Philippine are those in Citibank branches. Look for that ATM marked with $ sign. If you have an account with Citibank you can also do $ withdrawals over-the-counter.Can I withdraw BPI in USA? ›
Can I use my BPI Debit Mastercard outside the Philippines? Yes, you can use your BPI Debit Mastercard to withdraw in the local currency of the country you are in at any Mastercard-affiliated ATM. Yes, you can use your BPI Debit Mastercard to pay in stores wherever Mastercard is accepted.What bank in Philippines is international? ›
PNB maintains its position as the Philippine bank with the most extensive international reach with more than 70 overseas branches, representative offices, remittance centers and subsidiaries across Asia, Europe, the Middle East, and North America.Can I use my debit card in USA? ›
Using a debit card
You can use any Mastercard or Visa branded debit card in the United States. The Visa or Mastercard exchange rate applies to foreign currency transactions.
It is wise to look for available international bank ATMs such as Chinatrust, Citibank, HSBC, Maybank, & Standard Chartered Bank, as they DO NOT charge for withdrawals using a foreign/overseas card (info is inaccurate: as per 2013, at least Citibank and Chinatrust DO charge 200 peso commission for foreign cards of any ...Is it better to use card or cash in Philippines? ›
Cards can be used in bigger cities and in major tourist resorts in the Philippines - but carrying cash as an alternative and for smaller purchases is a good plan.Can I use my debit card abroad ATM? ›
You may be charged for using your debit or credit card abroad to buy something or when you withdraw cash in a foreign currency. What you'll pay depends on the transaction you make and the card you use.What cards can I use in Philippines? ›
The unit of currency in the Philippines is the Peso (P) which is divided into 100 centavos (c). Bank notes come in: P10, P20, P50, P100, P200, P500 and P1000. Coins come in: 5c, 10c, 25c, P1, P5, and P10. Most major credit cards are accepted with Visa and MasterCard being the most widely so.What is the best international bank in the Philippines? ›
The Top 10 banks in the Philippines include CIMB Bank, Lucio Tan's Philippine National Bank (PNB), Ayala-led Bank of the Philippine Islands, Aboitiz-led Union Bank of the Philippines, and Sy-led BDO Unibank.Can I withdraw money from ATM in Philippines? ›
With a debit or ATM card, account holders can withdraw money, check their account balance, and transfer money. However, these transactions can be costly if you don't know the ATM fees in the Philippines. ATM fees vary from bank to bank.
Which debit cards are accepted internationally? ›
- SBI Global International Debit Card.
- ICICI Bank Sapphiro International Debit Card.
- Axis Bank Burgundy Debit Card.
- HDFC EasyShop Platinum Debit Card.
- HSBC Premier Platinum Debit Card.
- Yes World Debit Card.
Note that international usage is only provided on Visa and MasterCard debit cards. If you have a RuPay Card, you can ask your bank to provide a Visa or MasterCard debit card.Which debit card can be used internationally? ›
- SBI International Debit Cards.
- HDFC EasyShop Platinum Debit Card.
- ICICI Bank Sapphiro International Debit Card.
- Axis Bank Burgundy Debit Card.
- YES World Debit Card.
- HSBC Premier Platinum Debit Card.
- Bank of Baroda (BoB) Visa Vyapaar DI Debit Card.
Yes, you can use your debit card internationally, though you may incur foreign transaction fees. Depending on where you travel, you might find merchants that only accept cash — or may only accept cards from specific issuers — so it's a good idea to have a mix of payment methods with you.Can all Visa debit cards be used internationally? ›
Yes, anywhere Visa is accepted. Visa fees will apply, and it will show on your statement as an international 1% transaction service fee.What is the best debit card for Travelling overseas? ›
- 86 400 Spend Account.
- Citi Global Currency Account.
- Great Southern Bank Everyday Edge Account.
- HSBC Everyday Global Account.
- ING Orange Everyday.
- Macquarie Transaction Account.
- Suncorp Bank Everyday Options Account.
- UBank USpend.
How does Visa Debit work internationally? Visa Debit is accepted at millions of merchants worldwide and can be used for purchases made in store (excluding Virtual Visa Debit), online, over the phone and by mail.How do I know if my debit card works internationally? ›
How would I know if my debit, credit or ATM card is accepted overseas? Check if your ATM card has a Visa or PLUS logo. If it does, it will be accepted at any ATM that is marked with the same logos.How do I make my debit card international? ›
All you need to do is inform your bank about certain specifics, i.e. the currency, daily usage limit, time period etc. Once you have informed your bank, subject to sufficient funds available in your account, your bank will activate international usage on your card.Why my debit card is not eligible for international transaction? ›
As per the RBI guidelines, banks issues Debit Cards only for domestic usage unless international use is specifically sought by the customer.
Are any debit cards free to use abroad? ›
Spending on your debit card while abroad could see you hit with a raft of costly fees. While challenger banks like Starling, Monzo and Revolut offer fee-free spending and cash withdrawals abroad (some limits may apply), other banks still charge you for using your debit card abroad.Do Bank of America debit cards work internationally? ›
Traveling Internationally? Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiry 1 as well as the ATM operator access fee.