Please be advised that the Terms & Conditions (T&Cs) of our Cash Management & Trade Finance Solutions Enrollment Form for selected services will be updated to enhance transparency regarding the Bank and Customer Responsibilities and Limitations on Liability.

Our updated T&Cs will take effect on October 23, 2026. The latest version, including the highlighted clauses that have been added or revised, can be found below.

For our existing clients, we encourage you to review the updated T&Cs in their entirety to familiarize yourself with the changes. By continuing to use the DigiBanker modules listed below, you will be deemed to have accepted and agreed to the updated provisions.

Updates on the Terms & Conditions of Cash Management & Trade Finance Solutions Enrollment Form:

 

Terms and Conditions – PESONet

BANK AND CUSTOMER RESPONSIBILITIES

u. In the event a transaction is reported by the Facility as “Rejected” or “Failed” but is subsequently confirmed to have been successfully credited to the target beneficiary (an “Erroneous Rejection”), the Customer agrees to exert best efforts to assist the Bank in recovering the funds from the beneficiary.

1. For purposes of this Agreement, “Best Efforts” shall include, but is not limited to: a. Providing the Bank with the beneficiary’s latest contact information; b. Initiating contact with the beneficiary to request the return of funds; c. Facilitating a conference between the Bank, the Customer, and the beneficiary to resolve the overpayment; and d. Executing necessary waivers or documents to allow the Bank to communicate directly with the beneficiary regarding the specific transaction.
2. The Customer acknowledges that this obligation to assist stands regardless of the cause of the Erroneous Rejection, including operational errors or system malfunctions attributable to the Bank.

LIMITATIONS ON LIABILITY

In the event of an Erroneous Rejection (where a successful transfer was reported as rejected), the Bank’s liability shall be strictly limited to the correction of the transaction record and the exertion of best efforts to assist the Customer in recovering the funds from the Target Member or beneficiary.

 

Terms and Conditions – InstaPay 

All references to “Interbank Fund Transfer” and “IBFT” have been removed and replaced with “InstaPay”. 

BANK AND CUSTOMER RESPONSIBILITIES 

20. In the event a transaction is reported by the Facility as “Rejected” or “Failed” but is subsequently confirmed to have been successfully credited to the target beneficiary (an “Erroneous Rejection”), the Customer agrees to exert best efforts to assist the Bank in recovering the funds from the beneficiary.

a. For purposes of this Agreement, “Best Efforts” shall include, but is not limited to: a. Providing the Bank with the beneficiary’s latest contact information; b. Initiating contact with the beneficiary to request the return of funds; c. Facilitating a conference between the Bank, the Customer, and the beneficiary to resolve the overpayment; and d. Executing necessary waivers or documents to allow the Bank to communicate directly with the beneficiary regarding the specific transaction.

b. The Customer acknowledges that this obligation to assist stands regardless of the cause of the Erroneous Rejection, including operational errors or system malfunctions attributable to the Bank.

LIMITATIONS ON LIABILITY 

In the event of an Erroneous Rejection (where a successful transfer was reported as rejected), the Bank’s liability shall be strictly limited to the correction of the transaction record and the exertion of best efforts to assist the Customer in recovering the funds from the Target Member or beneficiary. 

 

Terms and Conditions – Auto Credit Payment Manager 

BANK AND CUSTOMER RESPONSIBILITIES

4. In the event a transaction is reported by the Facility as “Rejected” or “Failed” but is subsequently confirmed to have been successfully credited to the target beneficiary (an “Erroneous Rejection”), the Customer agrees to exert best efforts to assist the Bank in recovering the funds from the beneficiary.

a. For purposes of this Agreement, “Best Efforts” shall include, but is not limited to: i. Providing the Bank with the beneficiary’s latest contact information; ii. Initiating contact with the beneficiary to request the return of funds; iii. Facilitating a conference between the Bank, the Customer, and the beneficiary to resolve the overpayment; and iv. Executing necessary waivers or documents to allow the Bank to communicate directly with the beneficiary regarding the specific transaction.

b. The Customer acknowledges that this obligation to assist stands regardless of the cause of the Erroneous Rejection, including operational errors or system malfunctions attributable to the Bank.

LIMITATIONS ON LIABILITY 

In the event of an Erroneous Rejection (where a successful transfer was reported as rejected), the Bank’s liability shall be strictly limited to the correction of the transaction record and the exertion of best efforts to assist the Customer in recovering the funds from the beneficiary. 

 

Terms and Conditions – Bundled Product 

BANK AND CUSTOMER RESPONSIBILITIES

20. In the event a transaction is reported by the Facility as “Rejected” or “Failed” but is subsequently confirmed to have been successfully credited to the target SBC account and/or other bank beneficiary, whichever is applicable (an “Erroneous Rejection”), the Customer agrees to exert best efforts to assist the Bank in recovering the funds from the beneficiary.

a. For purposes of this Agreement, “Best Efforts” shall include, but is not limited to: a. Providing the Bank with the beneficiary’s latest contact information; b. Initiating contact with the beneficiary to request the return of funds; c. Facilitating a conference between the Bank, the Customer, and the beneficiary to resolve the overpayment; and d. Executing necessary waivers or documents to allow the Bank to communicate directly with the beneficiary regarding the specific transaction.

b.The Customer acknowledges that this obligation to assist stands regardless of the cause of the Erroneous Rejection, including operational errors or system malfunctions attributable to the Bank.”

LIMITATIONS ON LIABILITY 

In the event of an Erroneous Rejection (where a successful transfer was reported as rejected), the Bank’s liability shall be strictly limited to the correction of the transaction record and the exertion of best efforts to assist the Customer in recovering the funds from the beneficiary. 

 

Terms and Conditions – Auto-Enrollment 

BANK AND CUSTOMER RESPONSIBILITIES

20. In the event a transaction is reported by the Facility as “Rejected” or “Failed” but is subsequently confirmed to have been successfully credited to the target SBC account and/or other bank beneficiary, whichever is applicable (an “Erroneous Rejection”), the Customer agrees to exert best efforts to assist the Bank in recovering the funds from the beneficiary.

a. For purposes of this Agreement, “Best Efforts” shall include, but is not limited to: a. Providing the Bank with the beneficiary’s latest contact information; b. Initiating contact with the beneficiary to request the return of funds; c. Facilitating a conference between the Bank, the Customer, and the beneficiary to resolve the overpayment; and d. Executing necessary waivers or documents to allow the Bank to communicate directly with the beneficiary regarding the specific transaction.

b. The Customer acknowledges that this obligation to assist stands regardless of the cause of the Erroneous Rejection, including operational errors or system malfunctions attributable to the Bank.”

LIMITATIONS ON LIABILITY 

In the event of an Erroneous Rejection (where a successful transfer was reported as rejected), the Bank’s liability shall be strictly limited to the correction of the transaction record and the exertion of best efforts to assist the Customer in recovering the funds from the beneficiary. 

 

Terms and Conditions – eGovernment Modules: SSS RealTime / PhilHealth RealTime / Pag-IBIG RealTime / BIR eFPS RealTime 

8. The Customer shall be solely responsible for complying with the payment cut-off times and authorization windows prescribed by the Bank and by the BIR, SSS, PhilHealth, and Pag‑IBIG. Any payment made and/or payment instruction transmitted beyond the applicable cut‑off time or date shall not be accepted or processed by DIGIBANKER and shall either (i) be deemed invalid and required to be settled by the Customer directly with the relevant BIR, SSS, PhilHealth, or Pag-IBIG branch, or (ii) be processed on the next banking day, as may be applicable. For same-day payment transactions, the Customer shall ensure that transactions and/or all payment instructions are fully authorized within the processing window of 9:00 a.m. to 9:00 p.m., and that sufficient funds are available in the designated funding account. The Bank shall have no obligation to verify the sufficiency of funds or the accuracy, timeliness, or completeness of any instruction. Further, the Bank shall not be liable for any delay in processing, non-processing, or rejection of any transaction resulting from the Customer’s failure to authorize the transaction within the prescribed authorization window.