Terms and Conditions

TERMS, CONDITIONS, AND AGREEMENTS FOR OPENING OF ACCOUNT/PLACEMENT/INVESTMENT

I agree to be bound by the following terms and conditions governing any account(s)/investment(s) (hereinafter referred to as “Account”), which I have opened or may hereafter open at any branch/department of ROBINSONS BANK CORPORATION (the “Bank”). The words “I”, “Me”, “Us”, and “Our’’ used herein shall refer to the person(s) who opened the Account. The words “You” and “Your” shall refer to the Bank. Where the Account is opened by more than one person, “I”, “Me”, and “My” shall read as “We, “Us”, and “Our’’, respectively, and unless the context otherwise requires, our obligations and liabilities hereunder shall be joint and solidary.

A. GENERAL TERMS AND CONDITIONS

  1. In receiving items for deposit, you shall be deemed to act merely as my/our collecting agent and you shall have no responsibility beyond the exercise of due care in selecting correspondents. Until such time as you are actually paid, you shall have the right to charge back my/our account for any amount previously credited, whether or not the deposited item is returned. You shall not be liable for items lost in transit, including but not limited to checks drawn on you which are not paid because of insufficiency of funds, forgery, unauthorized overdrafts, stoppage of payment or any other reason. I/We shall assume full responsibility for the correctness, genuineness, and validity of all items deposited as well as of all endorsements thereon. You shall not be liable for any loss which I/we may sustain from “subject-to-count” deposits.In making a deposit, I/we agree to assume full responsibility for the accuracy and correctness of the information filled out in the deposit slip and I/we further agree to hold you free and harmless from any liability for losses due to an incorrect number indicated in the deposit slip although the name of the depositor is correctly written.

  2. Withdrawals from a Savings Account other than an ATM account shall be made by submitting a duly accomplished withdrawal slip and presentation of the passbook. I/We will pay any stamp, transmission or other charges related to withdrawals from the account upon demand.

  3. You shall not be responsible or liable for any diminution due to taxes or imposts or depreciation in the value of funds credited to the account (which funds may be deposited by you in your name and subject to your control with such depository/ies as you may select) or for the unavailability of such funds due to restrictions on convertibility, moratoriums, requisitions, involuntary transfer, distraints of any character, exercise of military usurped power, acts of war or civil strife or other cases beyond your control.In the case of Dollar Accounts, I/we hereby warrant that the same: (a) shall not be funded by foreign currency which is required to be sold/surrendered under existing Bangko Sentral ng Pilipinas (BSP) rules and regulations to the banking system; and (b) shall be funded purely by foreign currency receipts eligible for deposit under BSP Circular No. 960, as amended by BSP Circular Nos. 1318 and 1389, and undertake to hold you free and harmless from liability for deposits made in violation of said law, rules, and circulars.

  4. You may, at any time and your sole discretion, discharge your entire liability with respect to the Account by mailing me/us, at the address set forth on the reverse side hereof, your draft in currency set forth in the Account, without recourse to you as drawer, payable to my/our order, in the amount of the credit balance in the Account, together with such other documents, if any, which in your sole discretion may be necessary to transfer such funds to me/us.

  5. You may, at any time at your discretion and without notice to me/us, set off or apply to the payment of any obligation, matured or unmatured, that may be owing to you by any one of us, any and all moneys which may be in your hands or otherwise belonging to me/us. I/We shall remain liable for any deficiency. My/Our monetary obligations hereunder shall earn interest at market rates from the time that they are due until the same are fully paid.

  6. My/Our account is subject to and shall be governed by all pertinent laws, the rules and regulations of the Bank, the Bankers Association of the Philippines (BAP), and the Bangko Sentral ng Pilipinas (BSP). In the event that my/our Account is closed by you, you are authorized to volunteer, provide and disclose information on or affecting my/our Account to members of the BAP, the BSP or any central monitoring body created to monitor and keep record of undesirable bank account/account holders.

  7. In the event that the BSP, or any other governmental body/agency, or any competent court, should declare that any deposit, investment, placement, service, or other product of the Bank is in violation of any existing law, regulation, policy, circular, etc., I/we shall hold you free and harmless from any and all damages, suits, claim, etc. which may arise from or is relative to such violation.

  8. I/We recognize your right to unilaterally close my/our Account, without prior notice to me/us, in the event that it should be improperly handled, e.g. (i) drawing, issuing, or endorsing checks to said Account without funds to support the checks, or against insufficient funds; (ii) kiting; (iii) frequent issuance of checks with signatures that differ from the specimen signatures on file; (iv) previous involvement in fraud or an attempt to defraud as indicated by reports received, whether or not such reports are confirmed; (v) discovery by the Bank of any misrepresentation or inaccurate/false/fraudulent data provided by me/us to the Bank; or (vi) other similar or analogous transactions which you may deem unsatisfactory. My/Our Account may also be unilaterally closed by the Bank without cause by giving one (1) month notice in writing prior to the intended date of closure.

    Notice of closure of my/our Account shall be sent by registered mail to my/our last known address appearing in your records. The Manager’s check for the balance remaining, if any, shall be picked up at the branch of account. In cases where my/our identity, other corporate information, or other personal circumstances of authorized signatories is/are in question, I/We hereby authorize you to keep the proceeds of such closed account until I/we can, to your satisfaction, properly identify myself/ourselves or validate my/our personal circumstances.

    In case the Account is mishandled by me/us, or where a check is drawn against insufficient funds or uncollected deposits, or has technical defects, or when a stop payment order (unless by reason of stolen/lost check) has been requested, or for other grounds prescribed by law, clearing house regulations, or regulations of the government agency concerned, you shall have the right to impose or deduct therefrom an amount to cover penalties, fines, and charges in accordance with your rules and regulations. You may also impose and deduct in other instances such other fees in accordance with such rules and regulations.

    In cases of remittances, I/we hereby authorize you to remit back to the Bank or account of origin said remittance/s, even though the same may have already been duly credited to my/our account, should you deem the acceptance by you of said remittance to be, in your sole discretion, a possible violation of any Anti-Money Laundering Law, regulation, or policy or any other regulation, law or policy (whether now existing or in the future), and I/we agree to render you free and harmless from any damage, suits, fees, cost, or charges, arising out of, whether directly or indirectly, the rewiring of such remittance/s.

    In instances where temporary overdrawings or drawings against uncollected funds are allowed under express agreement or prior arrangement, interest on the overdrawn amount shall be collected at the prevailing market rate and I/we shall be liable for the total amount withdrawn plus the interest due thereon.

  9. I/We shall maintain the minimum balance that you shall require for the Account, which minimum balance you may increase or decrease from time to time without the need of my/our prior consent. If the balance falls below said minimum balance, I/we shall pay a service charge as may be imposed by the Bank.

  10. I/We shall immediately notify you in case of loss of the checkbook, passbook, certificate or other evidence of the account and shall be liable and indemnify you for any damage caused by such loss.

  11. The provisions of Article 1250 of the Civil Code of the Philippines shall not be applicable.

  12. For ATM accounts, the terms and conditions set forth in your Card Application form an integral part of this Agreement and are incorporated herein by reference.

  13. Unless otherwise advised, you shall automatically roll over/renew my/our account at every maturity.

  14. Each of us hereby authorizes and empowers any of the others to endorse for deposit in the Accounts any and all checks, drafts, notes, or other instruments for the payment of money, payable or purporting to belong to any one or more of us, and should any such instrument(s) be received by the Bank without being so endorsed. The Bank is hereby authorized to endorse it (them) on our behalf and credit the same into our account/investment. I/We assume full responsibility for the correctness, genuineness, and validity of all endorsement appearing on the checks or other items deposited to the account.
  15. In compliance with law, we attest under pain of perjury that all withdrawals that any or all of us will make from this account will be understood to have been made with an explicit affirmation that all the account holders are still living on the date of such withdrawals and that any attestation, if any, that any or all of us will make as to the existence of all accountees, may be fully relied on by you at your discretion, but without obligation to do so, for which you shall be kept free and harmless for such reliance by all of us.
  16. I/We shall promptly notify you of any change of address. Correspondence sent to my/our last address given to you shall be deemed to have been received by me/us.
  17. Your liability for any and all damages arising from oversight, operating errors, non-return of items, payment on stop payment items and similar acts of inadvertence shall be limited to the actual damages proved but in no case to exceed P10,000.00.
  18. In case you are compelled to take judicial or extrajudicial action to enforce collection of any amount or debt arising out of the Account, I/we shall indemnify you for attorney’s fees in the amount of at least 10% of the total amount due, including accrued interests. Venue of such actions or any action hereunder shall be Quezon City or any other place, at your sole option.
  19. You shall have the right to amend or supplement these terms and conditions from time to time without notice to us. However, any such change may be effected by posting notice thereof for ten (10) days in a conspicuous place in your premises.
  20. For Current Accounts, I/we shall be furnished copy/copies of my/our Statement of Account monthly. For all other types of accounts, I/we shall be furnished copy/copies of my/our Statement of Account only upon my/our request to you and upon payment of the applicable fees.I/We shall carefully check all entries in the Statement of Account to be sent to me/us and shall report to you in writing any exception to any entry therein within ten (10) days from receipt of the Statement. If you do not receive any communication regarding the statement within the said period, said Statement of Account shall be considered complete and correct. A Statement of Account with a Hold Order from me/us, if unclaimed after thirty (30) days from the date of the last entry on said Statement, shall be immediately mailed to me/us at my/our address last appearing in your records.
  21. Maintenance Fee - A monthly maintenance fee will be charged for accounts falling below the required minimum Average Daily Balance (ADB). You shall duly notify me/us in writing or advise me/us by posting the notice at a conspicuous place of the Bank premises of changes in the charges to be collected sixty (60) calendar days prior to the effectivity of such changes.Service Charge - A service fee will be charged to accounts closed within ninety (90) days from its opening.
  22. I/We further agree to waive my/our right to secrecy of the bank deposits under Section 2 of Republic Act No. 1405 or “An Act Prohibiting Disclosure of or Inquiry into Deposits with any Banking Institution and Providing Penalty Therefore”, of Republic Act Number 6426 or “An Act Instituting a Foreign Currency Deposit System in the Philippines, and for other, Purposes” and Republic Act No. 8791 or the General Banking Law of 2000.

  23. Furthermore, I/we hereby consent to the processing of the information indicated below under Republic Act No. 10173 or “An Act Protecting Individual Personal Information in Information and Communications Systems in the Government and the Public Sector, Creating for this Purpose a National Privacy Commission, and for other Purposes.”

  24. Dispute over Account Funds. The Bank may refuse to pay out any Money from an Account until any dispute over the deposits or funds (including, without limitation, any dispute over the persons who are authorized to represent or act for the Depositor/Client) have been resolved by a court, or by agreement of the parties that is documented to the Bank’s satisfaction. The Bank may file for an action for interpleader with respect to any money where the Bank has been notified of disputed claims to that money, or the Bank has a reasonable ground to believe that a dispute over the deposits or funds exist. If any person asserts that a dispute exists, the Bank is not required to determine whether the dispute has merit in order to refuse to pay funds or interplead the funds. The Depositor/Client agrees to reimburse the Bank for any expenses, including legal and attorney’s fees that the Bank incurs because of any dispute.

B. SPECIFIC CONDITIONS FOR SIMPLE SAVINGS ACCOUNT

  1. I/We agree to maintain a balance of not more than Php 45,000.00 at any given time. I/We understand that any transaction which shall cause the balance of my/our Simple Savings Account (the “Account”) to exceed the maximum amount allowed shall be refused by the Bank.

  2. Should the balance of my/our Account reach Php40,000.00, I/we permit the Bank to send a short message service (SMS) to my/our registered mobile number/s reminding me/us of the maximum account balance allowed for the Account.

  3. Should I/we require the balance of my/our Account to exceed the maximum allowable amount, I/we understand that my/our Account shall be closed. I/We may choose to open a regular deposit account for this purpose, subject to my/our compliance with the required KYC procedures for regular deposit account.

  1. I/We shall hold the Bank free and harmless from any and all damages, suit, costs, expenses, etc., which may arise from or may be caused by the Bank’s refusal of any transaction pursuant to clause 25 hereof.

  2. I/We agree that my/our Account shall be funded within thirty (30) days from opening, otherwise, the Account shall be closed by the Bank without prior notice to me/us.

  3. I/We agree that if my/our Account remains inactive due to lack of transactions for twelve (12) consecutive months and with zero (0) balance at the end of said twelve-month period, the Account shall be closed by the Bank without prior notice to me/us.

  4. I/We agree to be charged a processing fee for balance inquiry made in any Robinsons Bank Automated Teller Machine (ATM), as well as withdrawals made in any Robinsons Bank or other local and foreign bank ATMs.

  5. I/We agree that in order to avail of other facilities for deposit accounts (e.g. over-the-counter withdrawal), you may require me/us to accomplish other standard bank forms and to submit identification documents necessary for you to establish my/our identity/identities.

  6. I/We understand and agree that if I/we wish to avail of your other (deposit) products, I/we shall comply anew with the KYC procedures required for said product and I/we shall update my/our Client Information and Authorization Record Form.

C. SPECIAL CONDITIONS FOR IPONsurance® SAVINGS ACCOUNT

  1. I understand that the free life insurance which comes with the opening of an IPONsurance® Savings Account is covered by a group life insurance that is provided by a third party insurance company, and coverage of which shall be based on the three (3) months average daily balance of my account/s, but not to exceed P4,000,000.00, regardless of the number of account I open.

  2. I understand that in order to continue enjoying the free life insurance, I should maintain a minimum average daily balance (ADB) of P20,000.00.

  3. I agree that upon the occurrence of any of the following shall render me ineligible for the insurance coverage:A. Failure to maintain the required minimum average daily balance of my account;B. Upon closing of my account, for whatever reason; and C. Upon reaching the age of sixty-six (66) years old.

  4. I agreed that if on account of illness or disability I am rendered bedridden or confined in a hospital/clinic on the date that my insurance would take effect, that I shall not be considered insured on such date. I understand that my insurance shall take effect only on the first day of the month coincident with or immediately following my full recovery from such illness or disability or my discharge from the hospital/clinic as fully recovered patient.

  5. I understand that for any claim to be processed, my designated beneficiary/ies are required to accomplish a Claimant Statement Death Claim Form and submit this together with the original or certified true copies of all documents required by the third-party insurance provider, to any Robinsons Brank branch.

  6. I understand that only the beneficiary/ies that I nominated during account opening shall be eligible to file and claim proceeds of said insurance coverage; and that proceeds of the life insurance shall be equally divided if more than one (1) beneficiary has been nominated, unless percentage of share for each beneficiary has been identified during the account opening.

  7. I understand that the insurance coverage shall be contestable after the account has been opened and up to two (2) years that the account has been active; provided that I have maintained the required monthly ADB throughout the two (2) year contestability period, otherwise, the contestability period shall commence on the next month that the required ADB of the account is met.

  8. I shall hold the Bank free and harmless from any and all damages, suits, costs, expenses, etc. which may arise from or may be caused by delays or refusal of the insurance provider to honour insurance claims.

D. SPECIFIC CONDITIONS FOR SPECIAL SAVINGS ACCOUNT (”SSA”)

  1. Upon maturity of an SSA, it shall earn the prevailing interest rates of an ordinary savings account unless I/we give you written authority/instruction to reinvest said deposit for a specified period.

  2. If the SSA is withdrawn before the end of the stipulated period, it shall earn the applicable rate that may be allowed by the Bank or the prevailing savings account interest rate, whichever is higher, regardless of the number of days it stayed with you.

E. SPECIFIC CONDITIONS FOR JOINT AND SOLIDARY (“AND”/ “BOTH” or “ALL”) ACCOUNT

  1. The funds in the account are the property of all/both of us and shall be payable to and collectible by all/both of us jointly during our lifetime.

  2. Should any one of us or all/both of us simultaneously die, the account shall be paid equally to the survivor/s and the estate/s of the deceased account holder/s. The share pertaining to the estate of a deceased shall be paid to the executor appointed in his will, the administrator appointed by the court, or his heirs, as the case may be. The Account shall be deemed as one without right of survivorship and the herein terms and conditions shall be binding upon each of us and our heirs, executors, administrators, and assigns.

  3. We agree that any payments made from the Account by virtue of a receipt/check/withdrawal order from all/both of us jointly or from the attorney-in-fact appointed by all /both of us during our lifetime or before you shall have the actual notice of the death of any of us shall be valid and will completely release and discharge you from any liability for said payment.

F. SPECIFIC CONDITIONS FOR JOINT AND SOLIDARY (“EITHER”/ “ANYONE”) ACCOUNT

  1. The funds in the account are owned by us jointly and severally and shall be payable to and collectable by any one/either of us during our lifetime. Upon the death of any one of us, the funds shall be payable and collectible by the survivor or any of the survivors and in case of death of the last survivor, shall be payable to and collectable by his estate. The Bank may, however, require the submission of documents, including tax clearances, should the circumstances warrant.

  2. Should all/both of us die simultaneously, our account shall be paid to any one of our executors/administrators/ heirs who shall first make a written demand for the payment thereof.

  3. Any payment made from the Account by virtue of a receipt/check/withdrawal order from any one/either of us or from the attorney-in-fact appointed by any one/either of us during our lifetime or before you shall have the actual notice of the death of any one/either of us who liability for such payment.

G. SPECIFIC CONDITIONS FOR CHECKING ACCOUNTS

  1. Withdrawals from Current Accounts can be made by your checks/drafts/telegraphic transfers and also by debit instructions in the currency of the Account at my/our written request. I/We will pay any stamp, transmission or other charges related to withdrawals from the Account upon demand.

  2. Checkbooks shall be kept in a safe place, preferably under lock and key.

  3. Should the Account be mishandled or not conducted or not used in a manner satisfactory to you, in addition to your right to close the Account without prior notice, I/we shall return to you and duly account for all unused checks in my/our possession.

    A. Stop payment orders shall be in your prescribed form.

    B. In requesting for stop payment of particular checks, I/we agree to hold you free and harmless from all damages and costs that you may incur on account of refusing payment thereof. I/We also agree not to hold you liable on account of

  4. I/We shall hold you free and harmless from any damage that may be caused by your premature payment through inadvertence of any postdated check that I/we may issue.

  5. Any check presented to you after closure of my/our Account, whether or not closed at your instance under the terms hereof, shall be dishonored for the reason “Account Closed” and you shall not incur any liability by reason of dishonor.

H. SPECIFIC CONDITIONS FOR PAYROLL ACCOUNTS

  1. I/We agree that my/our account shall be governed by the terms and conditions of the existing payroll service agreement. In the event that I/we are separated/terminated/dismissed from my/our employment or my/our account becomes inactive due to lack of payroll credit/s therein for a continuous period of six (6) months, you are hereby authorized to close it in the event there is zero or no more balance in it; otherwise, you are similarly authorized to convert and tag it as a regular savings account subject to the terms and conditions governing such regular savings account such as maintaining balance.

  2. I/We shall hold you free and harmless from any liability or claim that may arise from the closure of my/our account or conversion into regular savings account, as the case may be, for the reason stated above.

I. ADDITIONAL PROVISIONS ON HANDLING OF ALL DEPOSIT ACCOUNTS

  1. Unless covered by existing written deposit pick-up agreement or check collection agreement, I/we agree not to give or hand over my/our cash/checks for deposit to my/our account to any Bank officer, employee, or personnel in any place except only to the Teller on duty inside the Bank at the Teller’s counter and not to leave cash/check deposits to the Teller on duty at the Teller’s counter without demanding my/our copy of duly validated deposit slip, passbook , or relevant evidence of deposit. Neither shall I/we ask, allow, or require any cash delivery from any Bank officer, employee, or personnel, except when such delivery is covered by an existing written cash delivery agreement.

  2. I/We agree not to appoint/make any Bank officer, employee, personnel, as my/our agent or representative to make deposits to, withdrawals from, or operate any of, my/our deposit accounts with the Bank or to safekeep any withdrawn cash or deposit related documents on my/our behalf. Neither shall I/we give oral instructions to any Bank officer, employee, or personnel to implement transactions on my/our deposit account unless covered by appropriate written, filled-out, and duly signed documents by me/us and submitted to the Bank at the time of the transaction. For avoidance of doubt, I/we agree to absolutely not instruct any Bank officer, employee, or personnel to make any transaction on my/our deposit accounts that is subject to subsequent documentation or regularization.

  3. Consistent with existing BSP regulations, I/we agree not to ask, require, or allow any Bank officer, employee, or personnel to prepare or fill-out for me/us the deposit or withdrawal slips or other required Bank forms.

  4. I/We agree to hold the Bank, its stockholders, directors, officers, employees or agents, free and harmless from any loss, damage, or injury arising from, related to, or in connection, with any of my/our violation of any of the foregoing stipulations in Nos. 49, 50 and 51 hereof and I/we undertake to defend the Bank, its stockholders, directors, officers, employees, or agents from any suit, action, or proceeding at my/our cost arising from, related to, or in connection therewith.

J. SPECIFIC CONDITIONS FOR FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)

  1. As a U.S. Person(s), I/we agree and acknowledge that I/we am/are subject to the requirements of the United States Foreign Account Tax Compliance Act (“FATCA”) and the regulations of the United States Internal Revenue Services (“US IRS”), including all subsequent amendments or supplements thereto (collectively “FATCA/US Regulations”), which require the Bank to report directly to the US IRS/BIR information about financial accounts held by US taxpayers or held by foreign entities in which US taxpayers hold a substantial ownership interest.

  2. Pursuant to FATCA, I/we hereby consent, agree and permit disclosure of the information or data relating to me/us, my/our accounts, and bank transactions with me/us as may be required by law, competent courts, or government, or regulatory bodies, or other offices or agencies authorized by law. I/we understand and agree that the Bank may be required to report my/our accounts, including the handling thereof, to the Bangko Sentral ng Pilipinas, the Anti-Money Laundering Council, credit bureaus, and/or any other governmental or regulatory body of the Philippines and the United States of America.

  3. Accordingly, I/we hereby authorize the Bank to disclose and report to the U.S. Internal Revenue Service (IRS) / Bureau of Internal Revenue (BIR) pertinent information as required under FATCA.

  4. I/We likewise agree and consent to waive my/our rights and privileges under such other laws of the Philippines, which will require the issuance of a consent and/or waiver for the disclosure and/or processing of any and all information relating to my/our Account with the Bank for purposes of compliance with FATCA, and I/we hereby agree to indemnify and hold free and harmless the Bank, its stockholders, officers, and employees from any and all damages, costs and liabilities arising from or as a consequence of the above disclosure of information and waiver of rights.

  5. Where I/we have answered/declared that I/we am/are not a US Person and have submitted the required documents in support thereof. I/We hereby affirm and confirm the truth of such declaration. I/We undertake to inform the Bank in writing of any change in circumstances that will affect the accuracy of such declaration within thirty (30) calendar days from the occurrence of such change. Further, I/we hereby acknowledge that the Bank discovers that I/we am/are US Person(s), then the Bank, its subsidiaries and affiliates are hereby absolutely and unconditionally authorized to report and disclose to the US IRS/BIR the Required Information. I/We further undertake/s to provide the Bank with such Required Information as may be requested by the Bank.

K. SPECIFIC CONDITIONS FOR E-AYUDA ACCOUNT

  1. Should the balance of my/our Account reach Php 20,000.00, I/we permit the Bank to send a short message service (SMS) to my/our registered mobile number/s reminding me/us of the maximum account balance allowed for the Account.

  2. Should I/we require the balance of my/our Account to exceed the maximum allowable amount, I/we understand that my/our Account shall be closed. I/We may choose to open a regular deposit account for this purpose, subject to my/our compliance with the required KYC procedures for regular deposit account.

  3. I/We shall hold the Bank free and harmless from any and all damages, suit, costs, expenses, etc., which may arise from or may be caused by the Bank’s refusal of any transaction pursuant to clause 66 hereof.

  4. I/We agree that my/our Account shall be funded within thirty (30) days from opening, otherwise, the Account shall be closed by the Bank without prior notice to me/us.

  5. I/We agree that if my/our Account remains inactive due to lack of transactions for twelve (12) consecutive months and with zero (0) balance at the end of said twelve-month period, the Account shall be closed by the Bank without prior notice to me/us.

  6. I/We agree to be charged a processing fee for balance inquiry made in any Robinsons Bank Automated Teller Machine (ATM), as well as withdrawals made in any Robinsons Bank Branch or Automated Teller Machine (ATM).

  7. I/We agree that in order to avail of other facilities for deposit accounts (e.g. over-the-counter withdrawal), you may require me/us to accomplish other standard bank forms and to submit identification documents necessary for you to establish my/our identity/identities.

  8. I/We understand and agree that if I/we wish to avail of your other (deposit) products, I/we shall comply anew with the KYC procedures required for said product and I/we shall update my/our Client Information and Authorization Record Form.

L. MISCELLANEOUS PROVISIONS

  1. I/We acknowledge and accept that, the Bank: (a) may collect, use and process my/our personal data/information in relation to services and facilities of my/our Account; (b) there is disclosure of my/our personal, sensitive personal, and financial information (hereafter, the “Disclosed Information”) to your Affiliates or Participants or such other third party or their sub-processors exclusively for the purpose of providing and facilitating your services under my/our Account in accordance with these terms and conditions and your Privacy Consent and Notice (PCN). Such disclosure and use of information may be necessary or inevitable for the purposes of giving effect to any Electronic Instruction from me/us and/or facilitate or enable the use of my/our Account. Failure to allow such disclosure, access to or use of my/our Information may result in our inability to offer or continue to offer services and facilities related to my/our Account.

  2. In the event that I/we provide personal, sensitive personal and financial information, relating to third parties, I/we hereby: (a) confirm that I/we have obtained his/her consent or are otherwise entitled to provide this information to you and for you to use it in accordance with the specified transaction/s with the Bank; (b) agree to ensure that the personal, sensitive personal and financial information of the said third parties is accurate; and (c) agree to update you in writing in the event or any material change to the said personal, sensitive personal and financial information.

  3. Your authority to collect, use or disclose the Disclosed Information as set out in Clause 75 above shall survive the termination of the services covered under this Terms and Conditions insofar as such continued collection, use or disclosure of the Disclosed Information remains necessary to fulfill any and all legal obligations the Bank or I/we may have relative to the prior provision of services to me/us, to fulfill any legitimate interests of the Bank, to comply with existing laws and regulations, the protection of the Bank’s lawful rights and interests in legal proceedings and/or in the establishment, exercise or defense of the Bank’s legal claims. Our rights and abilities in in Clause 75 above shall be in addition to and without prejudice to our other rights of disclosure pursuant to the Terms and Conditions, Privacy Consent and Notice (PCN), and Republic Act No. 10173, otherwise known as the Data Privacy Act of 2012.

  4. I/We agree that I/we have full and sole responsibility over the truthfulness and accuracy of the personal data that I/we will provide you in relation to herein services. Neither you nor any of your personnel shall be liable for any loss or damage suffered by me/us or any user as a result of any disclosure of any information which I/we have consented you to collect, use or disclose for the purposes provided in this clause or where such collection, use or disclosure is allowed under the applicable laws in the Philippines.

  5. I/We hereby allow and authorize Robinsons Bank, its parent company including its shareholders, subsidiaries, affiliates, agents and third-party service providers to offer specially selected products and services to me/us through telephone/mail/e-mail/fax/SMS.

  6. I/We signify our interest in receiving invites to the marketing initiatives, campaigns, and programs of the Bank, its parent company including its shareholders, subsidiaries, affiliates, agents and third-party service providers. In this regard, I hereby authorize the Bank to share my/our personal information to its parent company including its shareholders, subsidiaries, affiliates, agents and third-party service providers in order to facilitate the sending of invites to me/us. This consent and authorization remains valid, effective, and subsisting until otherwise revoked or cancelled in writing by me/us.

  7. I/We acknowledge that this Terms and Conditions for Opening of Account/Placement/Investment is an integral part of the Client Information and Authorization Record and does not require separate signature/s by me/us, our signature/s in the Client Information and Authorization Record being legally sufficient, binding, and enforceable.