BusinessPlus Account

Built especially for your business needs. This account is your partner to Better Business Banking.

What is BusinessPlus?

The BusinessPlus Account is the perfect business partner that provides for all your company’s banking needs, and more. You get to focus on business operations while we take care of the rest. With flexible placement terms and innovative features, this account will keep up with you as you grow your business.

BusinessPlus Rates

Opening Balance PHP 5,000
Maintaining Balance PHP 50,000
Interest Rate 0.10%

*PHP 100,000 minimum balance to earn interest

Access to All Banking Essentials

  • Passbook, Checkbook, BusinessPlus MasterCard Debit Card, and access to alternative channels in just 1 account.
  • Issue up to 5 BusinessPlus Debit Cards to your employees and customize their monthly limits to your needs.
  • Exclusive discounts and privileges in partner establishments.

Award-winning Cash Management

  • The account comes with the DigiBanker Facility modules to help you with your business operations.
  • Payroll Management, Centralized CASA Manager, Automated Check Cutting, Auto-Debit and Credit Facilities, Online Remittance Applications and Check Management Monitoring
  • eGov Module (i.e. BIR, PhilHealth, SSS, Pag-IBIG remittances, etc.)

The First Business Debit Card in the Country and Made for You

Issue up to 5 Business Plus Debit Cards to your employees
Customize monthly limits according to your needs
Exclusive deals and discounts in partner establishments

Get the most out of your Account

Bundled perks

Enjoy specialized bank products like CheckRight, CheckProtector, and preferential rates on loans, FX buy and sell transactions, and investment products.

Waived balance

The minimum balance fee is waived for the first 3 months, giving you the opportunity to build up your account.

Requirements

 

ID / Document Requirements

Sole Proprietorships One (1) photo-bearing primary ID or two (2) secondary IDs
Certificate of Registration of Trade Name
Partnerships One (1) photo-bearing primary ID or two (2) secondary IDs of the partners
SEC Certificate of Registration
Articles of Partnership
Partnership Resolution
Corporations One (1) photo-bearing primary ID or two (2) secondary IDs of the authorized signatory/ies
Secretary’s Certificate of Board Resolution;
Latest General Information Sheet (GIS) duly stamped received by SEC
SEC Certificate of Registration
Articles of Incorporation
By-Laws
Unincorporated Groups One (1) photo-bearing primary ID or two (2) secondary IDs of authorized signatory/ies
Signed copy of Constitution and By-Laws
Group Resolution

Click here to see list of Valid ID’s

You can open a BusinessPlus account via Skype! Here’s how:

Fill out the online form and attach account opening documents

Please keep your reference number once the form is completed

Print and sign the application details sent to your email address

Participate in the virtual interview via Skype for validation

Once validated, account will be opened and you can now start funding it

A branch representative will deliver your checkbook & passbook, and pick up the required documents

Apply for an account today!

List of Valid IDs
List of IDs
PRIMARY ID SECONDARY ID
Passport Company ID
Driver’s License NBI Clearance
PRC ID Police Clearance
Voter’s ID Postal ID (Paper-based card)
GSIS e-Card Barangay Certification
SSS Card OWWA ID
Unified Multi-purpose ID Seaman’s Book
ACR / ICR GOCC ID [e.g. Armed FOrces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)]
Integrated Bar of the Philippines DSWD Certification
School ID PhilHealth Insurance Card ng Bayan (PHICB)
NCDA ID City Health Card / Health Certificate Card
Postal ID (PVC Plastic Card) Tax Identification Number (TIN)
Terms and Conditions

Terms and Conditions on Account Opening

  1. I have read, understood and hereby agree to Security Bank Corporation’s (BANK) terms and conditions for opening and maintaining accounts as set forth on the website www.securitybank.com which may be amended from time to time and I agree to abide by the same;
  2. By opening an account online with the BANK, I am fully aware that this involves the transmission of personal data, information through the internet and I fully assume all risks involved relevant to this transaction;
  3. 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.
  4. 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;
  5. 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.
  6. 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).
  7. 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 Dormant, by the Depositor. Security Bank Corporation, and the Depositor, ourcustomer, 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.

DEPOSITS/PLACEMENTS/PAYMENTS

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 accoun /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

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 beautomatically made using prevailing exchange rate of Security Bank and/or the international network where the transaction was coursed through at posting date.

FUNDS TRANSFER

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:

  1. 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.
  2. 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.
  3. 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:

  1. 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.
  2. 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.

MINIMUM BALANCE

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

SERVICE CHARGES

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.

DORMANT ACCOUNTS

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.

MISHANDLED ACCOUNTS

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.

INTEREST

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 accountat 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 (10) 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.

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 [email protected] 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

CHECKBOOK

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 Recordbook where the BANK shall, upon presentation of the Passbook or Recordbook, record all deposits/withdrawals made. No entries in the Passbook or Recordbook shall be made except by the BANK. However, mere possession of the Passbook or Recordbook 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.

JOINT ACCOUNTS

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.

SIGNING INSTRUCTIONS

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.

HOLD-OUT ARRANGEMENT

The deposit balance under hold-out may not be withdrawn while the hold-out / lien remains in full force.

REJECTED TRANSACTIONS

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.

DEPOSIT INSURANCE

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.

SECURITY DIGIBANKER FACILITY

A. General Provisions

1. Access to Security Digibanker System.
Upon enrollment, the BANK shall create for the Depositor a DIGIBANKER Customer Record and corresponding Access and Password Administrator User IDs which shall provide the Depositor with direct electronic access to the BANK’s Modules. It will be the joint responsibility of the designated Access and Password Administrators to create Users, grant them DIGIBANKER access, and enroll the Depositor’s accounts in DIGIBANKER. This shall allow the Depositor to create User IDs with a corresponding Access level through which assigned users can gain access via personal computers or similar devices (“remote banking terminal”) to pre-enrolled accounts maintained by the Depositor with the BANK and any of its branches, and effect electronic payments to the SSS, PhilHealth, BIR, and Pag-IBIG at the option of the Customer. The BANK shall not be liable for any unauthorized user access or authority created by the Access and Password Administrators.

The persons specified above are designated as the Password and Access Administrators of the Customer. The Customer acknowledges the security risks and agrees that the dual control of profiling the DIGIBANKER will be eliminated and waived if the Customer designates one person to act both as its Password and System Administrator.

2. Use of Security Digibanker IDs and Passwords.

a. Should favorable conditions allow, the BANK shall make DIGIBANKER available to the Depositor seven (7) days a week, twenty-four hours (24) a day. The BANK shall not be liable for the inability of the Depositor to gain successful access to the system. The BANK shall determine which services are provided under the DIGIBANKER and the operating periods and cut-off times thereon, and may amend or revise the terms and conditions applicable to these services, provided that prior notification is given to the Depositor via the News Section under the DIGIBANKER “Homepage”. Usage by the Depositor of DIGIBANKER, after such amendments or revisions are effected, shall be deemed as acceptance of such on the Depositor’s part. The BANK reserves the right to restrict, withdraw, cancel, suspend or terminate the service and/or the Depositor’s use of DIGIBANKER upon thirty (30) days prior written notice to the Depositor. The Depositor shall ensure that the IDs and Passwords of their duly assigned DIGIBANKER users are kept confidential, thereby assuming full responsibility for all transactions made using these IDs and Passwords. The Depositor shall inform the BANK immediately if any unauthorized transaction has taken place. Should information pertaining to any of the enrolled accounts fall into the hands of unauthorized persons for any reason other than due to the fault or negligence of the BANK, the Depositor unconditionally and irrevocably agrees and undertakes to keep the BANK free and harmless from any and all liabilities, claims for damages, responsibilities, causes of action, losses, in any way connected with the service required by the Depositor, including but not limited to the effect of the provisions of Republic Act 1405 (Secrecy of Bank Deposits), pertinent provisions of the General Banking Law as amended and provisions of law prohibiting disclosure of information concerning the Depositor’s transactions or deposits with banks, and any and all pertinent laws or regulations related thereto. For this purpose, the Depositor’s consent hereto shall be deemed as the Depositor’s written consent to disclose such data or information for purposes of R.A 1405, pertinent provisions of the General Banking Law, rules and regulations of the Bangko Sentral ng Pilipinas and other related laws and decrees. The implementation by the BANK of its normal procedures for maintaining the confidentiality of information relating to its Depositors and the e-payment of SSS RealTime transactions, PhilHealth RealTime transactions, Pag-IBIG RealTime transactions, or taxes shall constitute fulfillment of its obligation to exercise due care in the use and operation of the SSS Net Employer Contribution Program of the SSS, Philippines Health Insurance Corporation (PhilHealth fund) benefits and programs, Home Development Mutual Fund (Pag-IBIG fund) benefits and programs, and eFPS of the BIR.

b. The creation of User IDs and assignment of access/authority levels to the User IDs shall be the sole responsibility of the Depositor’s designated Access and Password Administrators. The BANK shall not be liable to the Depositor for any unauthorized Users/Access/Authority levels created/granted by the Access and Password Administrator designated by the Depositor.

3. Access to Deposit Accounts. Only enrolled accounts may be accessed through the DIGIBANKER. Activation of said accounts shall be effected only upon submission by the Depositor of an enrolment request letter, duly signed by the authorized signatories. Said letter should indicate the DIGIBANKER modules these accounts will be used for. For accounts belonging to a third party, the Depositor is responsible for securing authorization from the account owner for enrolment, and must submit to the BANK a Board Resolution/Secretary’s Certificate to this effect in order to initiate enrolment. All terms and conditions of existing deposit accounts covered by separate Agreement(s) that are not contrary to these provisions shall remain in full force and effect.

4. Fulfillment of Depositor Instructions.
a. Transactions executed via DIGIBANKER before the daily cut-off time in Manila (Philippines) shall be posted on the same day. Transactions executed after the daily cut-off time shall be treated as a transaction of the next business day. Instructions received by the BANK shall be acted upon only to such extent as consistent with applicable law. The BANK shall be liable only for its failure to act with good faith or to exercise reasonable care and skill, which shall be determined in accordance with the standards and practices of the banking industry. The Depositor authorizes the BANK to act upon any instructions emanating from the use of the DIGIBANKER. Any and all instructions received by the BANK shall be valid and binding upon the Depositor and shall be acted upon by the BANK. Such instructions shall be deemed correct, complete, irrevocable and binding on the Depositor upon receipt by the BANK. The Depositor hereby accepts full responsibility for all transactions executed via DIGIBANKER, including the accuracy and completeness of the corresponding instructions. The BANK shall not be liable for action or inaction upon such instructions sent, nor shall it be obliged to verify the accuracy and completeness of the instructions, or to investigate the authenticity or authority of the persons effecting the Depositor’s instructions.

b. The Depositor shall be solely liable in cases where there is an erroneous debit instruction of an account or any other erroneous datum or information indicated in DIGIBANKER where such erroneous instruction, datum or information results in a
claim or complaint by any party against the BANK. The Depositor hereby warrants the correctness of the instructions, data and information in every Payroll, SSS, PhilHealth, Pag-IBIG or BIR eFPS instruction submitted to the BANK, and any error discovered therein or which results therefrom in the course of the BANK’s performance of the agreed service shall automatically be attributable to the Depositor alone and shall remain its sole liability.

c. The Depositor holds the BANK and other members of the BANK as well as any of their officers and representatives free and harmless from any and all liabilities, claims, demands, suits of whatever nature, arising out of or in connection with the implementation of this arrangement, including any and all errors and/or omissions inadvertently committed resulting in the BANK’s failure to effect any payment transaction that the Depositor undertakes via the Modules.

5. Information Retrieved Through the DIGIBANKER. When viewing account balances in the DIGIBANKER using the foreign currency translation feature, the Depositor understands that the exchange rates used are purely indicative in nature. Account balances and other information displayed by DIGIBANKER, or any printout resulting therefrom are for reference purposes only. Records of the BANK shall be deemed final and conclusive, in the absence of manifest error.

6. Payment Cut-Off. The BANK shall validate and process electronic payment instructions only until the daily cut-off time of 9:00 p.m. Payment instructions received after the daily cut-off will be posted as next day payment.

7. Funding Account
a. During the effectivity of this Agreement, the Depositor has the option to maintain more than one (1) Funding Account for any of the Modules, as indicated in this enrolment form.

b. The Depositor may amend or add a designated Funding Account(s) for each of the Modules subject to the BANK’s consent by giving written notice of such change or addition at least ten (10) Banking days prior to the intended effective date of the change or addition. It is understood that the opening and maintenance of the Funding Account (s) and the crediting of the enrolled beneficiaries shall be further subject to and governed by the BANK’s standard requirements, procedures and agreements for opening and maintaining Bank accounts.

c. Only the cleared and withdrawable balance of the account shall be drawn upon to fund Modules payments, and the Depositor authorizes the BANK to debit the designated Funding Accounts for the Modules to cover the payment transactions initiated.

8. Average Daily Balance Requirement.

a. As compensation to the BANK for the enrolled Modules, the Depositor agrees to maintain a total Average Daily Balance (ADB) and pay such fees as may be agreed with the BANK under a separate agreement. The BANK is hereby authorized to debit the Funding Account in payment of said fees and other amounts that may be due hereunder.

b. The Depositor agrees to pay such fees as may be charged by the BANK for the use of DIGIBANKER, which fees may be increased or decreased at the discretion of the BANK upon due notice to the Depositor. The Depositor hereby authorizes the BANK to automatically debit from its deposit account maintained with its servicing Branch the Total Annual Fees, amounting to FIVE HUNDRED PESOS (PHP500.00) per Two-Factor Authentication (2FA) Token issued to a DigiBanker User, in excess of the three (3) free 2FA User Licenses offered to the Depositor by the Bank. The aforementioned authority is supported by a valid Board Resolution which shall remain valid and binding for as long as the Depositor is enrolled in the 2FA of DigiBanker. The BANK is hereby absolved from any liability which may result from its implementation of the foregoing authority.

9. Depositor’s Responsibilities

a. The Depositor shall not make or allow anyone else to make copies, in whole or in part, of this document or any of the materials or documents relative to the DigiBanker Cash Management Product.
b. The Depositor shall appoint its own officers and staff who will be trained or instructed by the BANK in the proper use or operation of the Digibanker Facility. They shall be responsible for operating the Facility and effecting the disbursements and payments contemplated hereunder. The Depositor shall set up its own internal controls for such disbursements and payments.

10. Indemnification

a. The Depositor shall indemnify and keep the BANK free and harmless from and against liabilities, losses, claims and damages arising or resulting from the (i) negligence, willful act, fraud or collusion or violation of any the terms by the Depositor, its officer, employees and representatives and the use, operation and maintenance of the BANK facilities, or (ii) act or omission, fraud or representation, of any third party, especially the Beneficiaries, provided there is no gross negligence or willful misconduct on the part of the BANK or its officers, employees and representatives; (iii) the implementation of the present Agreement, including but not limited to the following: (1) the BANK’s action or inaction on any instructions sent by the Depositor via DIGIBANKER; (2) illegal, improper or unauthorized use of DIGIBANKER, the Depositor’s DIGIBANKER ID and corresponding password; (3) any damage to the remote banking terminal, related facilities, or software as a result of access to DIGIBANKER; (4) any loss or damage resulting from access to DIGIBANKER when the same is prohibited, restricted, suspended, delayed or otherwise affected by (i) any law or regulation of the place where DIGIBANKER is accessed; any jurisdiction, regional or international authority which governs any use of any component of DIGIBANKER, any relevant Internet service provider or information service provider or system; (ii) the terms and conditions prescribed by the relevant Internet service provider or information service provider in such country of access; (5) any loss or damage resulting from any act or omission of any relevant Internet service provider or information service provider or network provider through which DIGIBANKER is accessed; (6) any loss or damage resulting from any modification, cancellation, amendment, alteration, upgrade or termination of DIGIBANKER; (7) any transfer or revelation of information on the Depositor’s Accounts to any of the BANK’s branch, subsidiary, affiliate and agent or authorized third parties determined by the BANK to be entitled to such information as required by any applicable law or as requested by any competent authority; (8) any access (or inability or delay in accessing) and/or use of any browser which the BANK recommends to the Depositor for access to DIGIBANKER; (9) any errors, inaccuracies, misstatements or omissions in the information and material contained in the BANK’s website; (10) any delay or failure in any transmission, dispatch or communication facilities; (11) any loss incurred or damage suffered by the Depositor by reason or as a consequence of (i) the misuse of the SSS Net Employer Contribution Program Facility, Philippines Health Insurance Corporation (PhilHealth fund) benefits and programs, Home Development Mutual Fund (Pag-IBIG fund) benefits and programs, or eFPS Facility, or (ii) inaccurate or incorrect information provided by the Depositor and (iii) fraud or misrepresentation on the part of the Depositor or their respective representatives.

b. The BANK shall not be liable for any and all claims, special, direct, incidental, exemplary or consequential damages, including but not charges or cause of action or those from or relating to any of the following: (1) insufficiency of funds in the enrolled account(s) to effect a transfer or payment; (ii) account(s) of the Depositor is/are closed or put on hold; (iii) garnishment of the Depositor’s Account(s), or other such order(s) prohibiting withdrawals therefrom issued by any court or other competent authority; (iv) incomplete, inaccurate, or incorrect transaction information provided by the Depositor; (v) payments made for past due or overdue accounts; (vi) improper or incorrect use of DIGIBANKER; (vii) other circumstances beyond the reasonable control of the BANK which prevent rendition of services required, such as but not limited to, flood, typhoon, earthquake, calamities, natural disasters, acts of God, fire, civil disturbance, strike, walk out, war, rebellion, electrical, computer or mechanical failures, improper handling or transmission of payment by a third party, and the like, except that which arises out of its acts constituting gross negligence in the performance of its obligations hereunder.

11. Termination. The Depositor or the BANK may terminate this service at any time for any reason which shall take effect thirty (30) days from the receipt of the other party’s written notice to the other

B. DigiBanker Modules

1. SSS REALTIME, PHILHEALTH REALTIME, EFPS REALTIME, PAG-IBIG REALTIME MODULE

A. Once enrolled in the Digibanker Facility, the DEPOSITOR shall have the following transaction capabilities:
1. View deposit account balances and monitor the transaction history of enrolled funding / deposit accounts.
2. Make payments directly to the SSS, PhilHealth, Pag-IBIG, and BIR via electronic fund transfer
3. Monitor online SSS, PhilHealth, Pag-IBIG, and eFPS payments up to two calendar months past.

B. The Depositor agrees that:
1. Only enrolled Employer PhilHealth number shall be used with the DIGIBANKER PhilHealth RealTime Module.
2. Only one enrolled Employer SSS ID Number (SSS EID No.) shall be used with the DIGIBANKER SSS RealTime Module.
3. Only one enrolled Tax Identification Number (TIN) shall be used with the Security DigiBanker eFPS RealTime Module. However, the Depositor’s subsidiaries/branch offices bearing the same first nine digits of their TIN but with a different branch code as indicated by the last three digits of the TIN may be allowed to use the same facility for purposes of paying EFPS transactions.
4. Only enrolled Employer Pag-IBIG number shall be used with the DIGIBANKER Pag-IBIG RealTime Module.
C. The Depositor shall be presumed to have read the SSS Net Employer Contribution Program for electronic remittance of contribution payments and transmission of employees’ monthly collection list from employers to the SSS Procedures and Guidelines as provided by the SSS or the e-Payment Procedures and Guidelines of the eFPS as provided by the BIR upon enrollment in this Digibanker facility.
D. The BANK shall not be liable for the Depositor’s failure to electronically pay its SSS remittance instructions, PhilHealth remittance instructions, Pag-IBIG remittance instructions, or its taxes if the Depositor is unable to access DIGIBANKER for whatever reason, such as but not limited to, system interruption or corruption among others, or the required BIR Tax Returns/Forms are not yet available in eFPS . In the event that the DIGIBANKER is unavailable or the BIR Tax Returns/Forms required by the Depositor are not yet available in eFPS, the Depositor may manually or electronically pay SSS remittance instructions at any other SSS-accredited Authorized Agent Banks (AABs), PhilHealth remittance instructions at any other PhilHealth-accredited Authorized Agent Banks (AABs), Pag-IBIG remittance instructions at any other Pag-IBIG-accredited AABs, or its taxes at any of the three Government Banks authorized to accept such payments, or at any of the BIR eFPS-accredited Authorized Agent Banks (AABs), provided the Depositor is enrolled in the respective SSS-accredited AABs, PhilHealth-accredited AABs, Pag-IBIG-accredited AABs, and BIR-accredited AABs electronic payments systems.
E. The Depositor’s SSS/PhilHealth/Pag-IBIG remittance instructions or taxes shall be deemed paid once the Depositor receives a Confirmation Number from DIGIBANKER and the Depositor’s corresponding SSS RealTime/PhilHealth RealTime/Pag-IBIG RealTime/eFPS RealTime Funding Account has been debited for the corresponding payment.
F. Any discrepancy between the remittances due and the debited amount shall be resolved with the SSS, PhilHealth, Pag-IBIG or BIR, without prejudice, however, to the right of the Depositor to seek recourse against the BANK should it be proven by competent and concrete evidence that the discrepancy resulted from the gross negligence or willful neglect of the BANK officers or employees.
G. The BANK shall only receive payments of those transactions allowed: by the Social Security System (SSS) under the DigiBanker SSS RealTime as specified under the signed MOA between Social Security System and the BANK; by the Philippines Health Insurance Corporation (PhilHealth) under the PhilHealth RealTime as specified under the signed MOA between Philippines Health Insurance Corporation and the BANK; by the Home Development Mutual Fund (Pag-IBIG fund) under the PhilHealth RealTime as specified under the signed MOA between Home Development Mutual Fund (Pag-IBIG fund) and the BANK; and by the Bureau of the Internal Revenue under the eFPS system as specified under Section 2.12 of Revenue Resolution (RR) 9-2001, issued by the Bureau of Internal Revenue.
H. The Depositor shall be responsible to observe payment cut-off deadline as prescribed by SSS/PhilHealth/Pag-IBIG. Any payment made beyond the cut-off date will not be accepted by DIGIBANKER, and shall be settled by the Customer with their respective SSS/PhilHealth/Pag-IBIG branches.

2. PAYROLL MANAGER

A. Payroll Accounts.
1. For as long as the automatic payroll credit arrangement is in place, the Depositor shall maintain the funding accounts (the “Customer Payroll Account”) for every payroll group.
2. In addition, the Depositor shall cause each of its employees or personnel covered by this service to open an account with the BANK in which their respective salaries will be credited (the “Employee Payroll Account”).
3. It is understood that the opening and maintenance of the Depositor’s Payroll Account(s) and the Employee Payroll Accounts be further subject to and governed by, the BANK’s standard requirements, procedures and agreements for opening and maintaining bank accounts.

B. Payroll Dates. The individual Employee Payroll Accounts shall be credited on the dates to be defined or encoded by the Depositor in the file containing the payroll data (net salaries across account numbers) which the Depositor shall upload or transmit to the BANK’s host computer to effect payroll (the “Payroll Dates”), provided that:
1. Uploading or transmittal of the payroll data described above shall be done by the Depositor at least one day prior to Payroll Date;
2. At least one (1) day prior to the Payroll Date, the Depositor Payroll Account shall be sufficiently funded with clear and withdrawable funds in the amount at least equal to the aggregate amount to be credited to the employees’ deposit account or Cash Cards. The Depositor hereby acknowledges that its failure to fully fund the Depositor Payroll Account as described will prevent the Facility from processing any payroll instructions even if these have been duly authorized. The BANK shall be held free and harmless from, and shall be indemnified for, any and all claims, liabilities or obligations, which any employee of the Customer or any third party may lay against the BANK by reason of the foregoing arrangement.

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 [email protected] Security Bank Corporation is supervised by Bangko Sentral ng Pilipinas with telephone number (632) 708-7087 and e-mail address at [email protected]

VARIATION OF TERMS AND CONDITIONS

The BANK reserves the right to change any or all of these terms and conditions. Any such alterations, amendments or new rules shall be posted, in the bank premises/branches, for at least 15 business days, and such notice shall be binding upon all the BANK’s Depositors as fully as though assented to by them.

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.

GOVERNING LAW

These terms and conditions are governed by the laws of the Republic of the Philippines.

VENUE

The Depositor irrevocably agrees that any legal action, suit or proceeding arising out of or relating to its deposit or any transaction or service connected therewith shall be instituted exclusively in any competent court in Makati City, Republic of the Philippines, and by execution and delivery of this Agreement.

Revised as of November 2019

Deposits are insured by PDIC up to P500,000 per depositor

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