Grow your money faster with higher interest rates

Just like Solenn and Nico, you can earn monthly
and quarterly bonus interest rates with our
Money Builder account ideal for your long-term
financial goals.

Grow your money faster with higher interest rates

Just like Solenn and Nico,
you can earn monthly and
quarterly bonus interest rates
with our Money Builder
account ideal for your
long-term financial goals.

Let’s collaborate to build lasting assets

Earn more with additional quarterly bonus incentives on top of your base interest, bonus monthly interest, and quarterly interest rates. With Money Builder, you can achieve up to 5.7675% p.a.– the more you save, the more you earn!

Higher Interest Rate

Enjoy high interest rates that surpass the returns offered by our regular savings account.

Save at your own pace

Add cash anytime—no schedules, penalties, or lock-ins.

More with Bonus Rates

Reward yourself with additional monthly and quarterly bonus interest rates on top of your base interest rate.

Monitor anytime, anywhere.

Comes with a passbook, 100% recycled debit Mastercard, and online/mobile app access.

Higher Interest Rate

Enjoy high interest rates that surpass the returns offered by our regular savings account.

Save at your own pace

Add cash anytime—no schedules, penalties, or lock-ins.

More with Bonus Rates

Reward yourself with additional monthly and quarterly bonus interest rates on top of your base interest rate.

Monitor anytime, anywhere.

Comes with a passbook, 100% recycled debit Mastercard, and online/mobile app access.

What is Money Builder?

Money Builder is a high-interest savings account that offers monthly and quarterly bonus interest on top of the base interest rates.

This savings account is perfect for those who want to earn more, enjoy flexible terms, and save for long-term goals.

Maintaining balance PHP10,000
Balance to earn interest PHP10,000
Interest rate (p.a.) 0.0675%*
Monthly Bonus Interest
Rate (p.a.)
0.1000%
Quarterly Bonus Interest
Rate (p.a.)
0.1000%

*Earn these bonus interest rates per annum if no withdrawal is made within the calendar month or quarter.

 

Want to earn more?

Open your first Money Builder account and earn additional quarterly bonus incentives.

ADB Range  Rate p.a. equivalent of
cash incentive
PHP10,000 to PHP24,999.99 2.25%
PHP25,000 to PHP99,999.99  3.00%
PHP100,000 to PHP499,999.99 4.00%
PHP500,000 to PHP999,999.99  5.00%
PHP1,000,000 and up  5.50%

*All qualified accounts will earn this tiered rates if no withdrawal made during the quarter calendar.

Promo Period: November 26 to December 31, 2024

DTI Fair Trade Permit No. FTEB-207937, Series of 2024.

What is Money Builder?

Money Builder is a high-interest savings account that offers monthly and quarterly bonus interest on top of the base interest rates.

This savings account is perfect for those who want to earn more, enjoy flexible terms, and save for long-term goals.

Maintaining balance PHP10,000
Balance to earn interest PHP10,000
Interest rate (p.a.) 0.0675%*
Monthly Bonus Interest
Rate (p.a.)
0.1000%
Quarterly Bonus Interest
Rate (p.a.)
0.1000%

*Earn these bonus interest rates per annum if no withdrawal is made within the calendar month or quarter.

 

Want to earn more?

Open your first Money Builder account and earn additional quarterly bonus incentives.

ADB Range  Rate p.a. equivalent of
cash incentive
PHP10,000 to PHP24,999.99 2.25%
PHP25,000 to PHP99,999.99  3.00%
PHP100,000 to PHP499,999.99 4.00%
PHP500,000 to PHP999,999.99  5.00%
PHP1,000,000 and up  5.50%

*All qualified accounts will earn this tiered rates if no withdrawal made during the quarter calendar.

Promo Period: November 26 to December 31, 2024

DTI Fair Trade Permit No. FTEB-207937, Series of 2024.

Requirements

  • For Resident Citizen, Non-resident Citizen, and Resident Alien
    1 primary valid ID or 2 secondary valid IDs. Click here for the list of valid IDs
  • For Non-resident Alien
    Passport or Alien Certification of Registration (ACR) I – Card

Requirements

  • For Resident Citizen, Non-resident Citizen, and Resident Alien
    1 primary valid ID or 2 secondary valid IDs. Click here for the list of valid IDs
  • For Non-resident Alien
    Passport or Alien Certification of Registration (ACR) I – Card

Together in love, together in finance

Join Solenn and Nico on their BetterBanking™ journey and discover why they love Security Bank’s products and services.

Money Builder Promo – Frequently Asked Questions

What is the duration of the promo?

The promo runs from November 26 to December 31, 2024.

Who is eligible to participate in this promo?

This promo is open to new and existing checking or savings accountholders who will open their first Money Builder savings account within the promo period.

First Money Builder account means clients who do not have an active Money Builder account prior to the campaign period. 

Can I participate in the promo if I already have a Money Builder account?

No. Only clients opening their first active Money Builder account during the promo period are eligible.

Can I participate in the promo if I already opened a Money Builder before but now inactive?

Yes. We will consider this as your first Money Builder account given you do not have any active Money Builder. 

Is this promo valid in conjunction with the 10k Save Up Challenge?

No. If you register for the 10k Save Up Challenge, you will no longer be entitled to the additional 1% bonus (offer 1) of 10K Save Up Challenge.

Who can participate in this promo?

Only individual clients are eligible. Joint accounts will only receive one reward, and only the primary accountholder is part of the promo.

How many times can I participate in the promo?

Clients are eligible to earn the cash incentives only once. The first Money Builder account opened within the promo period will qualify for the promo rates. Opening multiple Money Builder accounts does not guarantee additional cash incentives.

What are the cash incentives for the promo?

Cash incentives will be based on your Average Daily Balance (ADB) during the promo period:

ADB Range  Gross Rate p.a. (Cash Incentives) 
PHP10,000 to 24,999.99  2.25%
PHP25,000 to 99,999.99  3.00% 
PHP100,000 to 499,999.99  4.00%
PHP500,000 to 999,999.99  5.00%
PHP1,000,000 and up  5.50% 
What is the maximum incentive I can earn?

The maximum cash incentive you can earn is PHP75,000, subject to withholding taxes.

What are the deposit requirements?

Incoming transfers from other SBC accounts shall not be qualified as top-up for this promo, except if sourced from maturing investments.  Fresh funds should originate from external sources (OTC/CAM cash and check deposits, transfers from other banks).

Until When can I deposit fresh funds to qualify for the quarterly bonus cash incentives?

Clients can deposit fresh funds until December 31, 2024, only. 

What will be the basis for my promo rate in Money Builder?

The promo rate will be based on your fresh funds deposited from the account opening date until December 31, 2024. The total fresh funds accumulated during the day of your account opening until December 31, 2024, will determine the bracket of gross rate p.a. you qualify for. 

Can I top up fresh funds in 2025 and increase my promo gross rate p.a.?

No. Only fresh funds deposited until December 31, 2024, will qualify for the bonus rates. Depositing fresh funds in 2025 will not increase your promo rates (gross rate p.a.).

Deposit dates  Fresh funds deposited  Deposit qualify? 

November 27, 2024 

PHP100,000 

YES 

November 29, 2024 

PHP100,000 

YES 

December 10, 2024 

PHP300,000 

YES 

January 31, 2025 

PHP500,000 

NO 

Total fresh funds qualified for the promo: PHP500,000

Quarterly bonus cash incentives: 5.00% gross rate p.a.

What is the minimum balance to earn interest?

The minimum balance to earn interest is PHP10,000.

How does the interest work for this account?

Base Interest: The account earns a base interest of 0.0675% per year on an ADB of PHP10,000.

Monthly Bonus Interest: An additional 0.1000% is earned if no withdrawal is made in a calendar month. 

Quarterly Bonus Interest: An additional 0.1000% is earned if no withdrawal is made in a calendar quarter. 

Quarterly Bonus Incentive: An additional quarterly bonus based on your ADB will be credited in April 2025 and July 2025, provided no withdrawals are made during the eligible quarter. 

 

When will the quarterly bonus incentives be credited?

The quarterly bonus incentives will be credited in April 2025 and July 2025. 

Can I qualify for the monthly or quarterly bonuses if I open the account late in the month?

You must open the account on the first banking day of the calendar month or quarter to qualify for the bonuses in that period. If opened later, you will qualify for the bonus in the following month or quarter.

Can I qualify for the quarterly bonus cash incentive if I open the account in 2025?

No. You must open the account on the from November 18, 2024 to December 31, 2024 to qualify for the bonus cash incentive.

Are there any fees or charges that apply?

Standard fees, such as those for early account closure or maintaining below the required balance, will apply according to the existing terms and conditions of the Money Builder account and deposit account terms and conditions.

How can I inquire about this promo?

For inquiries, you can contact the Security Bank Customer Service Hotline at +632 8887-9188, email at [email protected], or reach out through in-app chat via the new Security Bank mobile app.

Are there any other terms and conditions?

All accounts are subject to the existing Know Your Customer (KYC) policies, account opening procedures, and other terms applicable to Security Bank products. All decisions made by the Bank regarding this promo are final and irrevocable.

Money Builder Promo – Promo Mechanics

General Guidelines
  1. This promo will run from November 26 to December 31, 2024 (11:59 PM Philippine Standard Time).
  2. This exclusive promo rate is available to all new and existing checking or savings accountholders who will open their first Money Builder savings account from November 26, 2024 – December 31, 2024.
    NOTE: First Money Builder means clients with no active Money Builder account prior to the campaign period.
  1. This promo is not valid in conjunction with the 10k Save Up challenge. Customers who register for the 10k Save Up Challenge will no longer be entitled to the additional 1% on the balances in the Money Builder account.
  2. Only Individual clients are eligible to participate in the promo.
  3. The account must remain active throughout the promo period and rewarding schedules.
  4. For joint and/or accounts, only one reward will be granted regardless of the number of accountholders. The primary account holder will be the one eligible for the promo, but the reward will be credited to the joint account. If the secondary account holder also wants to join the promo, they must open their first Money Builder account where client is the primary account holder.
    NOTE: Client is only eligible to earn the cash incentives once. Only the first Money Builder account opened within the promo period will qualify for the promo rates. Opening multiple Money Builder accounts will not guarantee additional cash incentives.
  5. All qualified accounts shall earn an additional quarterly bonus cash incentive:
    ADB Range Gross rate p.a. equivalent to cash incentives
    PHP10,000 to 24,999.99 2.25%
    PHP25,000 to 99,999.99 3.00%
    PHP100,000 to 499,999.99 4.00%
    PHP500,000 to 999,999.99 5.00%
    PHP1,000,000 and up 5.50%

    *The maximum amount of incentives that qualified clients can earn and receive will be Seventy-Five Thousand Pesos only (PHP75,000).

  6. All deposits must be in fresh funds. Fresh funds in checking or savings account (“CASA”) or fund transfers from other Security Bank accounts. Fresh funds must originate from outside Security Bank. The bank reserves the right to not include deposits that do not meet these criteria.
    Deposit fresh funds by Maintain balance until First Release of cash incentives Maintain balance until Second release of cash incentives
    December 31, 2024 March 31, 2025 April 2025 June 30, 2025 July 2025
  7. The minimum opening, maintaining, and balance to earn interest is PHP 10,000.
  8. The account earns the base interest rate of 0.0675% at PHP 10,000 average daily balance. The interest is computed at 365 days based on daily cleared balance for the eligible month. The interest is credited at the end of the eligible month, subject to withholding taxes.
  9. The account earns the additional 0.1000% monthly bonus interest rate if the customer does not withdraw from his account within a calendar month. The additional interest is computed at 365 days based on daily cleared balance for the eligible month.
  10. The account earns the additional 0.1000% quarterly bonus interest rate if the customer does not withdraw from his account within a calendar quarter. The additional interest is computed at 365 days based on daily cleared balance for the last month of the eligible calendar quarter.
  11. The account earns the additional quarterly bonus incentive based on daily cleared balance for the calendar quarter if the customer does not withdraw from his account within a calendar quarter. The incentive is computed at 365 days based on daily cleared balance for the calendar quarter. The incentive will be credited in April 2025 and July 2025.
    Account opening period Quarterly incentive rewarding schedules
    November 26 to December 31, 2024 April 2025 July 2025
  12. All quarterly bonus incentives will be credited through cash incentives capped at seventy-five thousand pesos (PHP75,000), subject to withholding taxes.
  13. Newly opened accounts shall qualify for the quarterly bonus interests only if the account was opened on the first banking day of the calendar month / calendar quarter. Otherwise, the account will be eligible to earn bonus interests in the following month/quarter, if no withdrawal is made and within ADB requirement.
  14. All new account openings are subject to existing policies and procedures of SBC, including, but not limited to the following:
    -Accounts opened during these new interest rates will be subject to existing Know your customer (KYC/eKYC)/account opening policies.
    -Accounts closed within thirty (30) days from account opening will be subject to corresponding early closure penalty fees.
    -Existing below maintaining balance charges corresponding to the participating product shall be applied.
  15. Usage of all SBC products will follow existing product terms and conditions.
  16. 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.
  17. All questions and disputes with respect to any of the promos under this campaign shall be resolved solely by the Bank with the concurrence of DTI, and any decision shall be considered final and irrevocable.
  18. All queries regarding this promo shall be directed to Security Bank Customer Service Hotline at +632 8887–9188, contact us at [email protected], or via in-app chat through the all-new Security Bank mobile app.

Per DTI Fair Trade Permit No. FTEB-207937, Series of 2024.

    Fine Print

    Terms and Conditions until December 9, 2024

    TERMS AND CONDITIONS – INDIVIDUAL

    TERMS AND CONDITIONS

    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;

    By opening an account online with the BANK, I am fully aware that this involves the transmission of personal data and information through the Internet and I fully assume all risks involved relevant to this transaction;

    I agree to provide the necessary KYC documents and information required for account opening and warrant the same are genuine, true, accurate, and valid at the time of submission to the BANK. I undertake to immediately inform the BANK of any changes in the above.

    Any document and information that I provide online through the Security Bank Online Application (SBOL) or the Security Bank Webpage shall be used by the BANK for Know-Your-Customer (KYC) validation for purposes of account opening;

    The BANK shall send me a reference number and shall validate the KYC information and documents that I provided online through its customer service and/or mobile application, at the discretion of the BANK. Once validated, the BANK will confirm the account opening through electronic mail, video or phone call, or SMS.

    For limited or restrictive accounts only: I confirm that I have not opened any such accounts with any other bank, and I do not have valid identification required by the BANK’s KYC policy. I further acknowledge that I have been informed of the limitations of accounts so opened until the completion of the KYC process namely-

    (1) Aggregate Balance up to P100,000.00 only on all deposit accounts.

    (2) Prohibition on receipt of foreign wire transfers/remittance

    In case of non-submission of the valid ID and non-compliance with the complete KYC process within a year of account opening, I understand that my account(s) shall be closed without further notice.

    The BANK reserves the right to limit the use or close the account upon failure of the customer to submit the necessary KYC documents and information, violation of the terms of declaration and terms and conditions in item 1, or non-compliance with the regulations of the Bangko Sentral ng Pilipinas and the Anti-money Laundering Council (AMLC).

    The right in the preceding section is without prejudice to the other rights and remedies available to the BANK under this Agreement and existing provisions of law. Notwithstanding any contrary provision, I agree to indemnify and hereby render 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 accounts that the Depositor may open with Security Bank Corporation through any of its branches or by way of its online account opening channel. 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, our customer, agree that “Debit” means deduction from the Depositor’s account, and “Credit” means addition to the Depositor’s account.

     

    SUBMISSION OF DOCUMENTARY REQUIREMENTS

    The Depositor agrees that the BANK shall open the account upon complete submission of all regulatory and bank documentary requirements. By opening the account, the Depositor agrees to be bound by the BANK’s policies, together with the terms and conditions stipulated in this agreement, including all other existing laws and regulations. Should the BANK agree to provisionally open an account pending the completion of the documentary requirements, the BANK reserves the right to unilaterally close the account if the pending requirements are not received by the BANK within 20 calendar days, for Individual clients or 45 calendar days for business clients.  In any case, the BANK reserves the right to close automatically, freeze, or place in an inoperative status any account, should the Depositor fail to

    1) submit documentary requirements for account opening within the extension period after provisional account opening,

    2) update/reply to the BANK’s formal request for status updates on pending government applications which would change the 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 Form (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 the authenticity of the information provided by the Depositor or addressing 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.

     

    DISCLOSURE OF INFORMATION TO SERVICE PROVIDERS AND DATA PRIVACY NOTICE

    I authorize the BANK to process, transfer, share, and disclose any information relating to my credit data, information which is not classified as Personal Identifiable Information (PII) and which is shared with third parties (e.g., score, income prediction, performance data for DPD, credit card usage, in case of partnerships), social networking score data,  telecom or mobile usage data or “telco score” to credit info data providers or credit scoring service providers (i.e. Globe Telecom, Inc., Smart Telecommunications, Inc., and other telecommunications service provider), third party open API providers such as Brankas, etc. for the purpose of credit verification, collection, credit review and credit scoring/analytics, and statistical and risk analysis. This provision shall apply only if I gave my consent for Security Bank Corporation to share and process any information relating to my account/s to any member of the Security Bank Corporation Group (Security Bank Corporation and its affiliates and subsidiaries reported as part of Security Bank Corporation’s conglomerate map/group structure as defined under BSP Circular 749) and Bancassurance companies or their authorized Service Providers and representatives, for purposes of cross-selling products and services, profiling and credit evaluation/reference checks, audit and account balance confirmation and allow them to contact me for this purpose (i.e. by e-mail, SMS, call), or in case of audit where my account is chosen as a sample for account balance confirmation.

     

    USE OF ACCOUNT

    The Depositor agrees that the account is strictly for personal use and shall not be used for business or commercial purposes whatsoever. The Depositor further agrees that it shall not, at any time, make transactions involving the deposit or transfer of funds from the Depositor’s business account to its personal account or vice versa. The Bank reserves the right to close the account at any time without prior notice to the Depositor if the Depositor is found to have violated this provision.

     

    DEPOSITS/PLACEMENTS/PAYMENTS

    A Current Account/Savings Account may be opened with a minimum initial deposit in the amount set by the BANK.

    All deposits must be made by the Depositor personally or by his authorized representative by filling out the appropriate deposit slip or Universal Transaction Slip (UTS). The BANK shall consider any person depositing for and on the Depositor’s behalf, as duly authorized by the Depositor to perform the deposit transaction.

    The BANK shall accept deposits, investments, or payments either in cash, check, or debit from another account/s. In accepting checks as deposits, 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 the 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.

    For acceptance of checks denominated in a foreign currency deposited in the BANK, the depositor agrees to reimburse and authorizes the BANK to debit the value of the check, together with any other charges, fees, costs, and damages caused to the Bank in the event that the same will be held liable by the foreign correspondent bank or any affected third party for fraud, forgery, material alteration on the check or if the check has been dishonored and found spurious, defective and returned for any reason whatsoever, regardless of the period of time that has elapsed.

    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, deposits 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 acknowledgment receipt and transaction slip.

    At its discretion, the Bank may accept an initial deposit via check. In case of return of the check for whatever reason, the Client shall fund the account by depositing the amount depending on the required initial deposit of the product opened plus an amount to cover possible charges, if any. The Bank shall inform the Client of the total amount required to be deposited to prevent the closure of the account.

    For check/s deposited whether as an initial deposit or in the course of the banking relationship, the Client agrees to reimburse and indemnify the Bank and authorizes the Bank to debit the value of the check, together with any other charges, fees, claims, costs and damages caused to the Bank in the event of any suit, liability, responsibility or claim by any third party or government institution/agency for fraud, forgery, material alteration on the check or if the check has been dishonored and found spurious, defective and returned for any reason whatsoever, regardless of the period of time that has elapsed. The Client undertakes to hold the Bank free and harmless and undertakes to defend the Bank, its stockholders, directors, officers, employees, and agents, from such suit, responsibility, or claim, at the Client’s expense unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

    For bulk or large cash deposits, the Depositor agrees to call the servicing branch before bringing the deposit. For purposes of complying with any applicable BSP regulations, the Bank may require the client to submit documentary requirements prior to its acceptance of bulk or large cash deposits.

    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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

    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 with 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT. Article 1250 of the Civil Code of the Philippines shall not apply to the account.

     

    ARTICLE 1250 OF THE CIVIL CODE OF THE PHILIPPINES

    Article 1250. In case an extraordinary inflation or deflation of the currency stipulated should intervene, the value of the currency at the time of the establishment of the obligation shall be the basis of payment, unless there is an agreement to the contrary.

    For extraordinary inflation (or deflation) to affect an obligation, the following requisites must be proven:

    1. that there was an official declaration of extraordinary inflation or deflation from the Bangko Sentral ng Pilipinas (BSP);
    2. that the obligation was contractual in nature; and
    3. that the parties expressly agreed to consider the effects of the extraordinary inflation or deflation.

     

    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.). The signature of the representative should be duly authenticated by the Depositor on the withdrawal/debit slip and the signature of the Depositor, and its authorized representative is validated by the Teller. 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 deposits 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 transfers 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 specifically in eSecure Savings Account.  The BANK does not warrant the 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.

    The cardholder (except for cards in relation to SSS pension) may assign an authorized representative to receive the Card on his/her behalf subject to the submission of the following requirements (i) authorization letter signed by the cardholder, naming therein the person who is authorized to receive the Card on his/her behalf; (ii) 1 valid Primary ID or 2 Secondary IDs of the cardholder and his/her authorized representative. SSS ATM Card must be personally received by the depositor/pensioner.

     

    LOSS OF THE SECURITY BANK ATM CARD/MASTERCARD DEBIT CARD

    The Cardholder shall immediately make a phoned-in report to the BANK for any loss, theft, and known or suspected unauthorized use of the Card. The Cardholder shall be liable for all authorized and unauthorized ATM or Debit Card transactions, including any withdrawals and purchases using the Card. The phoned-in report shall automatically free the Cardholder from any liability but any unauthorized charges made against the lost/stolen CARD prior to the phoned-in report shall be for the exclusive account of the Cardholder.

     

    FOREIGN CURRENCY ATM CARD/MASTERCARD DEBIT CARD TRANSACTIONS 

    For transactions made in foreign currencies in the Philippines or abroad, the manner of conversion from the transaction currency to the payment currency (Philippine Pesos) would be automatically made using a prevailing exchange rate of the Security Bank and/or the international network where the transaction was coursed through at posting date.

     

    FUNDS TRANSFER

    Any funds transfer to the own account or third party account, made by the individual or corporate clients through the 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. Fund transfers 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    AUTOMATIC FUNDS TRANSFER SERVICES

    For automatic funds transfer services, the Depositor shall be required to accomplish and sign the Individual/Corporate Fund Transfer Application and Maintenance Form, which shall support the Depositor’s standing instruction to avail of any of the following specific type of Funds Transfer services:

    1. Security Check Protector – is a fund transfer facility, that 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 recipient 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    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.

     

    HOLD AND AUTOMATIC DEBIT OF ACCOUNTS

    The Depositor represents and warrants that he or she is duly authorized to receive any funds that may be credited to his or her account and that the said funds are subject of a lawful transaction.  In this regard, the Depositor hereby authorizes the bank to place on hold and/or automatically debit the Depositor Account without the express authority from the Depositor and without prior written demand and notice from the Bank in the following instances: (1) Technical and human errors from either the Bank, Depositor or Remitter that results in mis posting, erroneous posting or discrepancy in posting of cash, check or funds transfer to the Depositor’s account; (2) Remittance and fund transfers where there is a dispute and request from the remitter to stop credit, hold or investigate the fund transfer and remittance;  (3) Where the Bank suspects that any transaction on the account is fraudulent or represents the proceeds  and is otherwise subject of, any unlawful activity; (4) Failure of the Depositor to update or provide complete KYC information and supporting documents under Anti-money Laundering and Terrorist Financing Regulations; (5) Upon order of a competent court, the Anti-money Laundering Council or any government body. (6) Any situation similar and analogous to the foregoing. The Depositor agrees to indemnify and hold the Bank free and harmless and without any liability in the Bank’s implementation of the above hold and debit of the Depositor’s account under this section.

     

    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 MONTHLY AVERAGE DAILY BALANCE (ADB)

    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 monthly Average Daily Balance (ADB) requirement and corresponding charges therein.  The formula to compute for monthly ADB is, as follows:

     

    ADB = (Day 1 ending balance + Day 2 ending balance … + Day 30/31 ending balance

    Number of days in the  month (i.e. 30/31 days)

     

    The Bank may waive the maintenance of the monthly ADB and to lift/cancel such waiver for whatever reason, at any time and at its sole discretion.

     

    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 that 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 an Attachment to the Terms and Conditions to be sent via Statement of Account (SOA) or Thank you Letter, and posted on the bank premises and on the bank website (www.securitybank.com). The BANK reserves the right to change the minimum monthly Average Daily Balance (ADB) requirement and corresponding charges therein.

    FEES AND CHARGES: https://www.securitybank.com/personal/accounts/fees-charges/


    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 a 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 balances 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.

    Checks issued from a dormant account, even if such account has enough funds to cover the amount of the check, shall be returned and the reason for the return of the check shall be indicated as “Drawn Against Dormant Account.

     

    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, or 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

    For client-initiated closing of an account, a withdrawal/debit slip/MTAF/Check Issuance/UTS shall be filled out for the entire amount of the balance outstanding in such account. The BANK may close an account at any time with 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 that are closed within 30 days from the date of opening. The BANK may, at any time, return to the Depositor his deposit together with the interest due. The Depositor/s may be notified either personally or by mail of the BANK’s intention to close the account and the interest will cease from the date of such notification. Deposits may be withdrawn only in the manner provided therein.

    The BANK retains the right to close, at its sole discretion, with prior notice to the Depositor, any of your account/s for reasons which the BANK may deem reasonable for the protection of its interest at any time and without obligation to disclose the reason for such closure. The depositor agrees to hold the Bank and its officers and employees free from harm from any and all liabilities, claims, and demands of whatever kind or nature in connection with or arising from the closure of your account.

     

    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 account at the end of every month or quarter, whichever is applicable. A reduced interest rate may apply if the account fails to meet the required frequency of withdrawal per quarter. A check item accepted for deposit does not earn interest until after the proceeds of such item have been cleared and fully credited to the account. No interest shall be paid on the account if (a) for ten (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.

     

    INTEREST COMPUTATION

    Interest rates are computed as follows:

     

    Daily accrued gross interest = End of Day Cleared Balance x Applicable Interest Rate x 1/365

    Interest payout (net of tax) = Sum of all accrued interests for the month or for the quarter less Applicable Tax Rate

     

    Note, however, that: a) Payout of interests for CASA is either monthly or quarterly, depending on the product type; and b) The computation above does not include special bonus interests or penalty interests’ rules for certain deposit products.

     

    STATEMENT OF ACCOUNT

    The Statement of Account (SOA) serves as the official record of the account’s transactions and balances. It is provided to the Depositor through the official online banking channels of the Security Bank or pick-up from the Depository branch. If any discrepancies are noted in the statement, the Depositor should promptly notify the BANK through the 24-hour Customer Service hotline at (632) 888-791-88 or email at [email protected] within twenty (20) calendar days from receiving the statement. Failure to do so will be considered as the Depositor’s acceptance of the statement’s accuracy.

    In the case of a change in the provided email address, the Depositor must inform the BANK immediately. Requesting an SOA before the cycle date will incur a processing fee. Special statements can be picked up at the Depository branch by the Depositor or their authorized representative.

    The BANK retains the right to dispose of monthly bank statements, including any related canceled/paid checks and debit/credit memos, left unclaimed for 90 calendar days from the time the SOA was made available for pick-up or download in the official online banking channels of Security Bank.

    The Depositor assumes all risks associated when choosing to receive the eSOA via official online banking channels of Security Bank. This includes risks such as the account information being exposed to unknown third parties, the account being hacked, and other inherent risks in online banking channels.

    If a client fails to view or download their Statement of Account (eSOA) through the official online banking channels, clients are encouraged to follow these steps: (1) Report the non-availability of eSOA. Clients should notify their preferred branch or customer service channels immediately, preferably within the specified timeframe mentioned in the terms and conditions (2) KYC, and provide the necessary information. When reporting the non-availability of the eSOA, clients may be required to provide specific details, such as their account information, any relevant transaction details, and the period for which the statement was not visible (3) Request SOA anytime and anywhere at Depository Branch.

    The Depositor acknowledges that electronic Statements of Account (eSOA) are available exclusively for viewing and download through the official online banking channels provided by Security Bank. The Depositor may opt to pick up a physical copy of the Statement of Account (SOA) at any depository branch of the Security Bank. The Depositor understands and agrees that it is their responsibility to regularly check their online banking account for the availability of eSOA or to visit a depository branch to obtain a physical copy of the SOA if necessary.

     

    CHECKBOOK

    Checkbooks shall be issued only to the accountholder personally, or to an authorized representative. The Depositor shall exercise care in requisitioning for additional checkbooks. To ensure a 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 with prior notice to the client. Checkbooks requested through different alternate channels are deemed final. Checkbook requests made using 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 the 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 the 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 monthly Average Daily Balance (ADB) 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 Account Details Form (ADF)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 ADF, 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 the event of the death of a Depositor, the BANK shall freeze or hold any withdrawal from an account maintained by such Depositor upon knowledge of said Depositor’s death.  The release of the hold shall be subject to the submission of the other requirements of the BANK for deceased Depositor accounts and collection of 6% FWT from the total proceeds, as may be applicable, pursuant to R.A. 10963 (TRAIN LAW) and its implementing rules and regulations.

    If the deceased Depositor owns the account jointly with other persons, each surviving co-depositor can be allowed to withdraw up to their proportionate share in the account, in the absence of proof to the contrary, provided that a certified true copy of the death certificate of the deceased depositor is submitted.  The Bank shall freeze or hold any withdrawal from the share of the deceased Depositor until the requirements of the Bank for deceased Depositor accounts are complied with. The collection of the 6% FWT, as may be applicable, pursuant to R.A. 10963 (TRAIN LAW) and its implementing rules and regulations shall be based on the proportionate share of the deceased Depositor. I and/or person(s) exercising parental or legal authority acknowledge that they have principal and solidary liability with the Depository and, as such, hold the Bank free and harmless and indemnified from damages, liabilities, claims, suits, and causes of action arising from the use and operation of the Accounts, products, services, facilities, and channels.

    In the case of the account being opened as an “In-Trust- For” Account (ITF Account), the Depositor agrees that the owner of the funds is the individual for whose benefit the ITF Account is opened and that the Depositor is merely holding and operating said account in trust for such owner.

     

    SIGNING INSTRUCTIONS

    In accordance with the authority given by the Depositor/s in the ADF, and Universal Specimen Signature Card (USSC) or the Secretary’s Certificate of Partnership/Board Resolution or the specimen signature signed by the Depositor during the video interview via Skype or MS Teams or other similar Information Communication Technology applications, 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.

     

    E-MAIL OR SHORT MESSAGING SERVICE (SMS) INSTRUCTIONS

    The BANK may act or execute on the specific instruction received from the Depositor and/or co-Depositor thru their registered contact information (mobile number &/or e-mail address) in the database. The said instruction, whether sent electronically, scanned, via facsimile or thru SMS from the Depositor &/or co-Depositor using their registered e-mail address or mobile number, shall be recognized by the BANK as deemed authorized and valid.   The BANK may validate/confirm directly with the Depositor &/or Co-Depositor at its discretion or option thru phone call, or any public video chat/conference call available such as Viber, messenger, Skype, Zoom, or similar. The Bank may require a separate document or undertaking as it may deem necessary to implement the foregoing instructions.

     

    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 regulations.

    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:

    1. details, or information establishing the right and capacity or the relationship of the entity with the individuals;
    2. details, or information establishing the validity or effectivity of the deposit transfer; or
    3. 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.

      

    FRAUD AWARENESS

    The Depositor is hereby informed that the BANK continuously updates its Fraud Awareness page on its website (https://www.securitybank.com/fraud-awareness/) to ensure that the latest trends, typologies, and safety precautions related to fraud are properly disseminated for the awareness of its customers and the general public. The Depositor agrees to be vigilant by making himself aware of the different types of fraud and ways to prevent it by accessing the Fraud Awareness page on the BANK’s website or through its other channels.

     

    INQUIRIES OR COMPLAINTS

    1. The Client shall report his/her concerns on the Account to any Security Bank Corporation branch nearest to the Client, or by contacting our 24/7 Customer Service Hotline below or sending an email to [email protected].

    Customer Service hotline              +632 888-791-88

    (Toll-free for PLDT landline)          1-800-1-888-1250

    Provided that, concerns relating to the loss of Client’s mobile device and/or replacement and/or change of number of any mobile phone or device (used by Client) for the generation and/or reception of OTP should be immediately reported to the Customer Service Hotline at the numbers provided above.

    2. The Client agrees to Security Bank Corporation’s conduct of verification when he/she contacts Security Bank Corporation via the Customer Service Hotline.

    3. Security Bank Corporation shall only act upon the Client’s concerns when the following information is completely provided:

    I. Client name, ATM/Credit Card Number and/or enrolled Security Bank Corporation Account Number;
    II. Details of the error or transaction as applicable, such as date, merchant/subscriber number, amount, mobile number, and reference number for the transaction in question or completion of the transaction dispute form when necessary. The dispute form is available/downloadable at https://www.securitybank.com/online-forms/.

    4. Security Bank Corporation will respond to the inquiries and provide resolution feedback to the concerns raised within seven to twenty (7- 20) banking days from the receipt of the complaint, and for complaints requiring more time to investigate and resolve, Security Bank Corporation will advise the client, accordingly, including the progress thereof.

    5. An official response from the concerned unit will be provided to the Client once the investigation is completed. However, Security Bank Corporation does not guarantee the reversal of the Client’s transaction.

    Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (http://www.bsp.gov.ph).

     

    CHANGE OF TERMS AND CONDITIONS

    The BANK reserves the right to change any or all of these terms and conditions. The Depositor shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective.  Any such modification, amendment, or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Depositor does not agree with the new/revised terms and conditions have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from the issuance of public notice.

     

    NOTICES AND COMMUNICATIONS

    Notices and communications may be sent to the Depositor through any of the following modes: (i) mail or delivery to Depositor’s last known mailing address;  (ii) transmission electronically to Depositor’s electronic mail (email) address as appearing in the records of the Bank;  (iii) through short messaging service (SMS) to Depositor’s registered mobile number as appearing in the records of the Bank; (iv) other available Bank channels or any one of them including posting on the Bank’s website or Mobile app; or (v) such other electronic transmission or use of an electronic platform as may be deemed appropriate by the Bank or as may otherwise be permitted by law or banking regulations, any of which mode of communication or transmission when sent shall be valid and effective notice to Depositor. Notice to one shall be deemed sufficient notice to the other co-depositors/obligors.

     

    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.

     

    ACCESS CODE/PERSONAL IDENTIFICATION NUMBER (PIN)

    The Depositor agrees to assume full responsibility for maintaining the confidentiality of his personal identification number (PIN) and/or Access Code. All transactions made through the use of the PIN/Access Code shall be conclusively presumed to have been performed by or authorized solely by the Depositor.

    The Depositor agrees and undertakes to regularly change the Access Code/PIN. The Depositor should immediately change the Access Code/PIN once compromised through the BANK’s Change Access Device facility.

     

    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.

     

    LIABILITY

    Subject to the provisions herein, 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 and as prescribed by the regulatory body.

    If the BANK is found liable for any act or omission for the BANK’s provision of services in relation to the Account or any reason whatsoever, its liability will be limited to the service fee charged to me or my actual proven damages, whichever is less. It will not be liable for any indirect, special or consequential loss or damages arising in any way out of the BANK’s provision of services in relation to the Account or any reason whatsoever unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    COMPLIANCE WITH RELEVANT LAWS, RULES AND REGULATIONS

    The Depositor warrants and agrees that he/she will comply with all laws, regulations, ordinances, rules, decrees, and other directives applicable to my use of Security Bank Online and other services of Security Bank Corporation. In no event shall Security Bank Corporation be obligated to take any action that it believes, in good faith, would cause it to be in violation of any laws, regulations, ordinances, rules, decrees, or directives applicable to the Account or the Depositor.

    Security Bank Corporation and the Depositor shall likewise comply with the provisions of Republic Act No. 10175 or the Cybercrime Prevention Act of 2012, its Implementing Rules and Regulations, Republic Act No. 9160, as amended or the Anti-Money Laundering Law, as amended, and its Implementing Rules and Regulations, Republic Act. No. 10173 or the Data Privacy Act of 2012, its Implementing Rules and Regulations, and other related issuances, laws, and regulations, as may be applicable.

     

    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.

    Updated Terms and Conditions effective December 10, 2024

    TERMS AND CONDITIONS – INDIVIDUAL

    TERMS AND CONDITIONS

    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;

    By opening an account online with the BANK, I am fully aware that this involves the transmission of personal data and information through the Internet and I fully assume all risks involved relevant to this transaction;

    I agree to provide the necessary KYC documents and information required for account opening and warrant the same are genuine, true, accurate, and valid at the time of submission to the BANK. I undertake to immediately inform the BANK of any changes in the above.

    Any document and information that I provide online through the Security Bank Online Application (SBOL) or the Security Bank Webpage shall be used by the BANK for Know-Your-Customer (KYC) validation for purposes of account opening;

    The BANK shall send me a reference number and shall validate the KYC information and documents that I provided online through its customer service and/or mobile application, at the discretion of the BANK. Once validated, the BANK will confirm the account opening through electronic mail, video or phone call, or SMS.

    For limited or restrictive accounts only: I confirm that I have not opened any such accounts with any other bank, and I do not have valid identification required by the BANK’s KYC policy. I further acknowledge that I have been informed of the limitations of accounts so opened until the completion of the KYC process namely-

    (1) Aggregate Balance up to P100,000.00 only on all deposit accounts.

    (2) Prohibition on receipt of foreign wire transfers/remittance

    In case of non-submission of the valid ID and non-compliance with the complete KYC process within a year of account opening, I understand that my account(s) shall be closed without further notice.

    The BANK reserves the right to limit the use or close the account upon failure of the customer to submit the necessary KYC documents and information, violation of the terms of declaration and terms and conditions in item 1, or non-compliance with the regulations of the Bangko Sentral ng Pilipinas and the Anti-money Laundering Council (AMLC).

    The right in the preceding section is without prejudice to the other rights and remedies available to the BANK under this Agreement and existing provisions of law. Notwithstanding any contrary provision, I agree to indemnify and hereby render 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 accounts that the Depositor may open with Security Bank Corporation through any of its branches or by way of its online account opening channel. 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, our customer, agree that “Debit” means deduction from the Depositor’s account, and “Credit” means addition to the Depositor’s account.

     

    SUBMISSION OF DOCUMENTARY REQUIREMENTS

    The Depositor agrees that the BANK shall open the account upon complete submission of all regulatory and bank documentary requirements. By opening the account, the Depositor agrees to be bound by the BANK’s policies, together with the terms and conditions stipulated in this agreement, including all other existing laws and regulations. Should the BANK agree to provisionally open an account pending the completion of the documentary requirements, the BANK reserves the right to unilaterally close the account if the pending requirements are not received by the BANK within 20 calendar days, for Individual clients or 45 calendar days for business clients.  In any case, the BANK reserves the right to close automatically, freeze, or place in an inoperative status any account, should the Depositor fail to

    1) submit documentary requirements for account opening within the extension period after provisional account opening,

    2) update/reply to the BANK’s formal request for status updates on pending government applications which would change the 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 Form (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 the authenticity of the information provided by the Depositor or addressing 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.

     

    DISCLOSURE OF INFORMATION TO SERVICE PROVIDERS AND DATA PRIVACY NOTICE

    I authorize the BANK to process, transfer, share, and disclose any information relating to my credit data, information which is not classified as Personal Identifiable Information (PII) and which is shared with third parties (e.g., score, income prediction, performance data for DPD, credit card usage, in case of partnerships), social networking score data,  telecom or mobile usage data or “telco score” to credit info data providers or credit scoring service providers (i.e. Globe Telecom, Inc., Smart Telecommunications, Inc., and other telecommunications service provider), third party open API providers such as Brankas, etc. for the purpose of credit verification, collection, credit review and credit scoring/analytics, and statistical and risk analysis. This provision shall apply only if I gave my consent for Security Bank Corporation to share and process any information relating to my account/s to any member of the Security Bank Corporation Group (Security Bank Corporation and its affiliates and subsidiaries reported as part of Security Bank Corporation’s conglomerate map/group structure as defined under BSP Circular 749) and Bancassurance companies or their authorized Service Providers and representatives, for purposes of cross-selling products and services, profiling and credit evaluation/reference checks, audit and account balance confirmation and allow them to contact me for this purpose (i.e. by e-mail, SMS, call), or in case of audit where my account is chosen as a sample for account balance confirmation.

     

    USE OF ACCOUNT

    The Depositor agrees that the account is strictly for personal use and shall not be used for business or commercial purposes whatsoever. The Depositor further agrees that it shall not, at any time, make transactions involving the deposit or transfer of funds from the Depositor’s business account to its personal account or vice versa. The Bank reserves the right to close the account at any time without prior notice to the Depositor if the Depositor is found to have violated this provision.

     

    DEPOSITS/PLACEMENTS/PAYMENTS

    A Current Account/Savings Account may be opened with a minimum initial deposit in the amount set by the BANK.

    All deposits must be made by the Depositor personally or by his authorized representative by filling out the appropriate deposit slip or Universal Transaction Slip (UTS). The BANK shall consider any person depositing for and on the Depositor’s behalf, as duly authorized by the Depositor to perform the deposit transaction.

    The BANK shall accept deposits, investments, or payments either in cash, check, or debit from another account/s. In accepting checks as deposits, 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 the 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.

    For acceptance of checks denominated in a foreign currency deposited in the BANK, the depositor agrees to reimburse and authorizes the BANK to debit the value of the check, together with any other charges, fees, costs, and damages caused to the Bank in the event that the same will be held liable by the foreign correspondent bank or any affected third party for fraud, forgery, material alteration on the check or if the check has been dishonored and found spurious, defective and returned for any reason whatsoever, regardless of the period of time that has elapsed.

    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, deposits 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 acknowledgment receipt and transaction slip.

    At its discretion, the Bank may accept an initial deposit via check. In case of return of the check for whatever reason, the Client shall fund the account by depositing the amount depending on the required initial deposit of the product opened plus an amount to cover possible charges, if any. The Bank shall inform the Client of the total amount required to be deposited to prevent the closure of the account.

    For check/s deposited whether as an initial deposit or in the course of the banking relationship, the Client agrees to reimburse and indemnify the Bank and authorizes the Bank to debit the value of the check, together with any other charges, fees, claims, costs and damages caused to the Bank in the event of any suit, liability, responsibility or claim by any third party or government institution/agency for fraud, forgery, material alteration on the check or if the check has been dishonored and found spurious, defective and returned for any reason whatsoever, regardless of the period of time that has elapsed. The Client undertakes to hold the Bank free and harmless and undertakes to defend the Bank, its stockholders, directors, officers, employees, and agents, from such suit, responsibility, or claim, at the Client’s expense unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

    For bulk or large cash deposits, the Depositor agrees to call the servicing branch before bringing the deposit. For purposes of complying with any applicable BSP regulations, the Bank may require the client to submit documentary requirements prior to its acceptance of bulk or large cash deposits.

    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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

    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 with 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT. Article 1250 of the Civil Code of the Philippines shall not apply to the account.

     

    ARTICLE 1250 OF THE CIVIL CODE OF THE PHILIPPINES

    Article 1250. In case an extraordinary inflation or deflation of the currency stipulated should intervene, the value of the currency at the time of the establishment of the obligation shall be the basis of payment, unless there is an agreement to the contrary.

    For extraordinary inflation (or deflation) to affect an obligation, the following requisites must be proven:

    1. that there was an official declaration of extraordinary inflation or deflation from the Bangko Sentral ng Pilipinas (BSP);
    2. that the obligation was contractual in nature; and
    3. that the parties expressly agreed to consider the effects of the extraordinary inflation or deflation.

     

    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.). The signature of the representative should be duly authenticated by the Depositor on the withdrawal/debit slip and the signature of the Depositor, and its authorized representative is validated by the Teller. 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 deposits 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 transfers 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 specifically in eSecure Savings Account.  The BANK does not warrant the 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.

    The cardholder (except for cards in relation to SSS pension) may assign an authorized representative to receive the Card on his/her behalf subject to the submission of the following requirements (i) authorization letter signed by the cardholder, naming therein the person who is authorized to receive the Card on his/her behalf; (ii) 1 valid Primary ID or 2 Secondary IDs of the cardholder and his/her authorized representative. SSS ATM Card must be personally received by the depositor/pensioner.

     

    LOSS OF THE SECURITY BANK ATM CARD/MASTERCARD DEBIT CARD

    The Cardholder shall immediately make a phoned-in report to the BANK for any loss, theft, and known or suspected unauthorized use of the Card. The Cardholder shall be liable for all authorized and unauthorized ATM or Debit Card transactions, including any withdrawals and purchases using the Card. The phoned-in report shall automatically free the Cardholder from any liability but any unauthorized charges made against the lost/stolen CARD prior to the phoned-in report shall be for the exclusive account of the Cardholder.

     

    FOREIGN CURRENCY ATM CARD/MASTERCARD DEBIT CARD TRANSACTIONS 

    For transactions made in foreign currencies in the Philippines or abroad, the manner of conversion from the transaction currency to the payment currency (Philippine Pesos) would be automatically made using a prevailing exchange rate of the Security Bank and/or the international network where the transaction was coursed through at posting date.

     

    FUNDS TRANSFER

    Any funds transfer to the own account or third party account, made by the individual or corporate clients through the 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. Fund transfers 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    AUTOMATIC FUNDS TRANSFER SERVICES

    For automatic funds transfer services, the Depositor shall be required to accomplish and sign the Individual/Corporate Fund Transfer Application and Maintenance Form, which shall support the Depositor’s standing instruction to avail of any of the following specific type of Funds Transfer services:

    1. Security Check Protector – is a fund transfer facility, that 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 recipient 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 unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    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.

     

    HOLD AND AUTOMATIC DEBIT OF ACCOUNTS

    The Depositor represents and warrants that he or she is duly authorized to receive any funds that may be credited to his or her account and that the said funds are subject of a lawful transaction.  In this regard, the Depositor hereby authorizes the bank to place on hold and/or automatically debit the Depositor Account without the express authority from the Depositor and without prior written demand and notice from the Bank in the following instances: (1) Technical and human errors from either the Bank, Depositor or Remitter that results in mis posting, erroneous posting or discrepancy in posting of cash, check or funds transfer to the Depositor’s account; (2) Remittance and fund transfers where there is a dispute and request from the remitter to stop credit, hold or investigate the fund transfer and remittance;  (3) Where the Bank suspects that any transaction on the account is fraudulent or represents the proceeds  and is otherwise subject of, any unlawful activity; (4) Failure of the Depositor to update or provide complete KYC information and supporting documents under Anti-money Laundering and Terrorist Financing Regulations; (5) Upon order of a competent court, the Anti-money Laundering Council or any government body. (6) Any situation similar and analogous to the foregoing. The Depositor agrees to indemnify and hold the Bank free and harmless and without any liability in the Bank’s implementation of the above hold and debit of the Depositor’s account under this section.

     

    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 MONTHLY AVERAGE DAILY BALANCE (ADB)

    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 monthly Average Daily Balance (ADB) requirement and corresponding charges therein.  The formula to compute for monthly ADB is, as follows:

     

    ADB = (Day 1 ending balance + Day 2 ending balance … + Day 30/31 ending balance

    Number of days in the  month (i.e. 30/31 days)

     

    The Bank may waive the maintenance of the monthly ADB and to lift/cancel such waiver for whatever reason, at any time and at its sole discretion.

     

    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 that 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 an Attachment to the Terms and Conditions to be sent via Statement of Account (SOA) or Thank you Letter, and posted on the bank premises and on the bank website (www.securitybank.com). The BANK reserves the right to change the minimum monthly Average Daily Balance (ADB) requirement and corresponding charges therein.

    FEES AND CHARGES: https://www.securitybank.com/personal/accounts/fees-charges/


    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 a 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 balances 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.

    Checks issued from a dormant account, even if such account has enough funds to cover the amount of the check, shall be returned and the reason for the return of the check shall be indicated as “Drawn Against Dormant Account.

     

    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, or 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

    For client-initiated closing of an account, a withdrawal/debit slip/MTAF/Check Issuance/UTS shall be filled out for the entire amount of the balance outstanding in such account. The BANK may close an account at any time with 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 that are closed within 30 days from the date of opening. The BANK may, at any time, return to the Depositor his deposit together with the interest due. The Depositor/s may be notified either personally or by mail of the BANK’s intention to close the account and the interest will cease from the date of such notification. Deposits may be withdrawn only in the manner provided therein.

    The BANK retains the right to close, at its sole discretion, with prior notice to the Depositor, any of your account/s for reasons which the BANK may deem reasonable for the protection of its interest at any time and without obligation to disclose the reason for such closure. The depositor agrees to hold the Bank and its officers and employees free from harm from any and all liabilities, claims, and demands of whatever kind or nature in connection with or arising from the closure of your account.

     

    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 account at the end of every month or quarter, whichever is applicable. A reduced interest rate may apply if the account fails to meet the required frequency of withdrawal per quarter. A check item accepted for deposit does not earn interest until after the proceeds of such item have been cleared and fully credited to the account. No interest shall be paid on the account if (a) for ten (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.

     

    INTEREST COMPUTATION

    Interest rates are computed as follows:

     

    Daily accrued gross interest = End of Day Cleared Balance x Applicable Interest Rate x 1/365

    Interest payout (net of tax) = Sum of all accrued interests for the month or for the quarter less Applicable Tax Rate

     

    Note, however, that: a) Payout of interests for CASA is either monthly or quarterly, depending on the product type; and b) The computation above does not include special bonus interests or penalty interests’ rules for certain deposit products.

     

    STATEMENT OF ACCOUNT

    The Statement of Account (SOA) serves as the official record of the account’s transactions and balances. It is provided to the Depositor through the official online banking channels of the Security Bank or pick-up from the Depository branch. If any discrepancies are noted in the statement, the Depositor should promptly notify the BANK through the 24-hour Customer Service hotline at (632) 888-791-88 or email at [email protected] within twenty (20) calendar days from receiving the statement. Failure to do so will be considered as the Depositor’s acceptance of the statement’s accuracy.

    In the case of a change in the provided email address, the Depositor must inform the BANK immediately. Requesting an SOA before the cycle date will incur a processing fee. Special statements can be picked up at the Depository branch by the Depositor or their authorized representative.

    The BANK retains the right to dispose of monthly bank statements, including any related canceled/paid checks and debit/credit memos, left unclaimed for 90 calendar days from the time the SOA was made available for pick-up or download in the official online banking channels of Security Bank.

    The Depositor assumes all risks associated when choosing to receive the eSOA via official online banking channels of Security Bank. This includes risks such as the account information being exposed to unknown third parties, the account being hacked, and other inherent risks in online banking channels.

    If a client fails to view or download their Statement of Account (eSOA) through the official online banking channels, clients are encouraged to follow these steps: (1) Report the non-availability of eSOA. Clients should notify their preferred branch or customer service channels immediately, preferably within the specified timeframe mentioned in the terms and conditions (2) KYC, and provide the necessary information. When reporting the non-availability of the eSOA, clients may be required to provide specific details, such as their account information, any relevant transaction details, and the period for which the statement was not visible (3) Request SOA anytime and anywhere at Depository Branch.

    The Depositor acknowledges that electronic Statements of Account (eSOA) are available exclusively for viewing and download through the official online banking channels provided by Security Bank. The Depositor may opt to pick up a physical copy of the Statement of Account (SOA) at any depository branch of the Security Bank. The Depositor understands and agrees that it is their responsibility to regularly check their online banking account for the availability of eSOA or to visit a depository branch to obtain a physical copy of the SOA if necessary.

     

    CHECKBOOK

    Checkbooks shall be issued only to the accountholder personally, or to an authorized representative. The Depositor shall exercise care in requisitioning for additional checkbooks. To ensure a 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 with prior notice to the client. Checkbooks requested through different alternate channels are deemed final. Checkbook requests made using 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 the 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 the 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 monthly Average Daily Balance (ADB) 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 Account Details Form (ADF)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 ADF, 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 the event of the death of a Depositor, the BANK shall freeze or hold any withdrawal from an account maintained by such Depositor upon knowledge of said Depositor’s death.  The release of the hold shall be subject to the submission of the other requirements of the BANK for deceased Depositor accounts and collection of 6% FWT from the total proceeds, as may be applicable, pursuant to R.A. 10963 (TRAIN LAW) and its implementing rules and regulations.

    If the deceased Depositor owns the account jointly with other persons, each surviving co-depositor can be allowed to withdraw up to their proportionate share in the account, in the absence of proof to the contrary, provided that a certified true copy of the death certificate of the deceased depositor is submitted.  The Bank shall freeze or hold any withdrawal from the share of the deceased Depositor until the requirements of the Bank for deceased Depositor accounts are complied with. The collection of the 6% FWT, as may be applicable, pursuant to R.A. 10963 (TRAIN LAW) and its implementing rules and regulations shall be based on the proportionate share of the deceased Depositor. I and/or person(s) exercising parental or legal authority acknowledge that they have principal and solidary liability with the Depository and, as such, hold the Bank free and harmless and indemnified from damages, liabilities, claims, suits, and causes of action arising from the use and operation of the Accounts, products, services, facilities, and channels.

    In the case of the account being opened as an “In-Trust- For” Account (ITF Account), the Depositor agrees that the owner of the funds is the individual for whose benefit the ITF Account is opened and that the Depositor is merely holding and operating said account in trust for such owner.

     

    SIGNING INSTRUCTIONS

    In accordance with the authority given by the Depositor/s in the ADF, and Universal Specimen Signature Card (USSC) or the Secretary’s Certificate of Partnership/Board Resolution or the specimen signature signed by the Depositor during the video interview via Skype or MS Teams or other similar Information Communication Technology applications, 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.

     

    E-MAIL OR SHORT MESSAGING SERVICE (SMS) INSTRUCTIONS

    The BANK may act or execute on the specific instruction received from the Depositor and/or co-Depositor thru their registered contact information (mobile number &/or e-mail address) in the database. The said instruction, whether sent electronically, scanned, via facsimile or thru SMS from the Depositor &/or co-Depositor using their registered e-mail address or mobile number, shall be recognized by the BANK as deemed authorized and valid.   The BANK may validate/confirm directly with the Depositor &/or Co-Depositor at its discretion or option thru phone call, or any public video chat/conference call available such as Viber, messenger, Skype, Zoom, or similar. The Bank may require a separate document or undertaking as it may deem necessary to implement the foregoing instructions.

     

    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 regulations.

    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:

    1. details, or information establishing the right and capacity or the relationship of the entity with the individuals;
    2. details, or information establishing the validity or effectivity of the deposit transfer; or
    3. 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.


    CUSTOMER SEGMENTATION

    1. The Bank periodically reviews and updates its customer segmentation strategies to enhance services, improve customer experiences, and align with evolving market trends. Customer segments are determined based on various factors, including but not limited to the Total Relationship Balance (“TRB”), financial behavior, transaction history, and account activity like deposits, investment placements, and withdrawals.

    2. The Bank maintains four (4) main customer service segments, each with their respective TRB criteria. Customers agree to maintain the TRB requirement for their chosen service segment:

    Segment TRB Range (in PHP)
    Blue 0.00 – 24,999.99
    Silver 25,000.00 – 499,999.99
    Gold 500,000.00 – 4,999,999.99
    Wealth 5,000,000.00 or higher

     

    The customer’s TRB is computed based on the following products:

    a. Outstanding balance of Checking and/or Savings accounts
    b. Outstanding balance of Time Deposits
    c. Outstanding balance of Long Term Negotiated Certificate of Deposit (“LTNCD”)
    d. Outstanding balance of Trust Investments Principal amounts
    e. Acquisition value of Derivative Products
    f. Acquisition value of Fixed Income Securities Distribution (“FISD”)
    g. Acquisition value of SB Equities Investments
    h. Annual Premium Equivalents of FWD Insurance Products

    The Bank reserves the right to amend the segmentation model and eligibility criteria, subject to notice to the customer in accordance with the regulations of the Bangko Sentral ng Pilipinas.

    3. Gold Circle Supplemental Terms & Conditions

    i. “Gold Circle” is a priority banking program that allows eligible bank clients to enjoy certain features and benefits. In exchange for enjoying the benefits provided to Gold Circle members, the Customer agrees to maintain the TRB requirement of the program.

    ii. Gold Circle members who fail to meet the required TRB for three (3) consecutive months shall be charged a service fee of Php1,000.00. Such Service fee shall be debited from any one of the Client’s bank accounts at the Bank’s sole discretion.

    iii. Cancellation or termination of “Gold Circle Membership” may either be client-initiated or bank- initiated. For client-initiated cancellation, a cancellation request letter or Customer Request Form (CRF) must be signed by the client explicitly stating the reason for cancellation/ termination.

    iv. The Client’s membership to the Gold Circle may also be cancelled by the Bank should the Client fail to meet the required TRB for six (6) consecutive months. In the case of Gold Circle cancellation, the Client shall be retagged to the service segment matching their TRB as of the month immediately preceding the Gold Circle cancellation.

    4. Upgrades and Downgrades

    i. Upgrades and downgrades to the different segments may happen periodically and may either be implemented by the Bank or initiated by the customer.

    ii. The Bank may, at its discretion, reassign Customers to different segments to ensure that the services provided are better tailored to their financial needs.  Customers may be eligible for upgrades or downgrades based on predefined criteria as stated in Customer Segmentation clause 2.

    iii. Upgrades. Clients who meet the TRB requirement of a higher segment for the past three (3) consecutive months may be upgraded and/or nudged for an upgrade by the Bank. Specifically for the Gold Circle membership program, all upgrades will only take place upon the Client’s confirmation.

    iv. Downgrades. The following downgrade provisions apply for all segments except for Gold Circle, which are covered by the Supplemental Terms under Customer Segmenation clause 3. Non-Gold Circle clients who fail to meet the TRB requirement of their current segment for three (3) consecutive months may be downgraded by the Bank. The Client shall then be retagged to the service segment matching their TRB as of the month immediately preceding the downgrade.

    v. Customers may also request for an update of their servicing segment at any time through the Bank’s designated channels. Clients requesting to be tagged to a higher segment must have met the minimum requirement for the next higher segment.

    5. Service Offerings & Fees

    The Bank will strive to tailor its products and services to meet the specific needs of each customer segment, providing personalized and relevant financial solutions.  All relevant benefits, services, and fees will be posted on the bank website (www.securitybank.com) and/or at a conspicuous place within the bank premises.  Customers will be notified of any changes at least 60 days prior to any change as provided by banking regulations.

    6. Special Provisions for Individual Payroll Accountholders

    i. Notwithstanding the TRB eligibility requirement outlined in Customer Segmentation Sec. 2; Payroll customers may qualify for higher segments based on their monthly salary value credited to their Security Bank accounts.

    ii. Qualified Payroll accounts shall include:

    • Accounts that are properly tagged to and receive regular or recurring credits from a Company that availed or have an agreement of the Bank’s payroll facility/service (account opening and/or crediting via Payroll Manager);
    • Open and active payroll accounts that are currently and properly tagged or linked to a company or an organization that availed of the Bank’s payroll facility
    • For the purposes of customer segment eligibility, the following shall be considered as “monthly salary”:
    • Regular or recurring credit from a Company that availed of the payroll facility with the Bank
    • Company HR or employee -provided salary figure/range during the employee’s account opening
    • Shall not include interbank or intrabank fund transfers coming from individual remitters other than the Company to which the payroll accountholder is currently affiliated with
    • Range or actual figures of the total gross monthly salary or payout provided to the Bank by the Company that availed or have an agreement of the Bank’s payroll facility/service (account opening and/or crediting via Payroll Manager);
    • Range or actual figures of the total gross monthly salary or payout provided to the Bank declared by the employee/beneficiary during account opening under a Company that availed or have an agreement of the Bank’s payroll facility/service (account opening and/or crediting via Payroll Manager);

    iv. Eligibility based on monthly salary credits shall apply for the Client’s first twelve (12) months as a Bank client. After which, standard eligibility criteria and applicable fees based on TRB shall apply.

     

    FRAUD AWARENESS

    The Depositor is hereby informed that the BANK continuously updates its Fraud Awareness page on its website (https://www.securitybank.com/fraud-awareness/) to ensure that the latest trends, typologies, and safety precautions related to fraud are properly disseminated for the awareness of its customers and the general public. The Depositor agrees to be vigilant by making himself aware of the different types of fraud and ways to prevent it by accessing the Fraud Awareness page on the BANK’s website or through its other channels.

     

    INQUIRIES OR COMPLAINTS

    1. The Client shall report his/her concerns on the Account to any Security Bank Corporation branch nearest to the Client, or by contacting our 24/7 Customer Service Hotline below or sending an email to [email protected].

    Customer Service hotline              +632 888-791-88

    (Toll-free for PLDT landline)          1-800-1-888-1250

    Provided that, concerns relating to the loss of Client’s mobile device and/or replacement and/or change of number of any mobile phone or device (used by Client) for the generation and/or reception of OTP should be immediately reported to the Customer Service Hotline at the numbers provided above.

    2. The Client agrees to Security Bank Corporation’s conduct of verification when he/she contacts Security Bank Corporation via the Customer Service Hotline.

    3. Security Bank Corporation shall only act upon the Client’s concerns when the following information is completely provided:

    I. Client name, ATM/Credit Card Number and/or enrolled Security Bank Corporation Account Number;
    II. Details of the error or transaction as applicable, such as date, merchant/subscriber number, amount, mobile number, and reference number for the transaction in question or completion of the transaction dispute form when necessary. The dispute form is available/downloadable at https://www.securitybank.com/online-forms/.

    4. Security Bank Corporation will respond to the inquiries and provide resolution feedback to the concerns raised within seven to twenty (7- 20) banking days from the receipt of the complaint, and for complaints requiring more time to investigate and resolve, Security Bank Corporation will advise the client, accordingly, including the progress thereof.

    5. An official response from the concerned unit will be provided to the Client once the investigation is completed. However, Security Bank Corporation does not guarantee the reversal of the Client’s transaction.

    Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (http://www.bsp.gov.ph).

     

    CHANGE OF TERMS AND CONDITIONS

    The BANK reserves the right to change any or all of these terms and conditions. The Depositor shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective.  Any such modification, amendment, or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Depositor does not agree with the new/revised terms and conditions have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from the issuance of public notice.

     

    NOTICES AND COMMUNICATIONS

    Notices and communications may be sent to the Depositor through any of the following modes: (i) mail or delivery to Depositor’s last known mailing address;  (ii) transmission electronically to Depositor’s electronic mail (email) address as appearing in the records of the Bank;  (iii) through short messaging service (SMS) to Depositor’s registered mobile number as appearing in the records of the Bank; (iv) other available Bank channels or any one of them including posting on the Bank’s website or Mobile app; or (v) such other electronic transmission or use of an electronic platform as may be deemed appropriate by the Bank or as may otherwise be permitted by law or banking regulations, any of which mode of communication or transmission when sent shall be valid and effective notice to Depositor. Notice to one shall be deemed sufficient notice to the other co-depositors/obligors.

     

    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.

     

    ACCESS CODE/PERSONAL IDENTIFICATION NUMBER (PIN)

    The Depositor agrees to assume full responsibility for maintaining the confidentiality of his personal identification number (PIN) and/or Access Code. All transactions made through the use of the PIN/Access Code shall be conclusively presumed to have been performed by or authorized solely by the Depositor.

    The Depositor agrees and undertakes to regularly change the Access Code/PIN. The Depositor should immediately change the Access Code/PIN once compromised through the BANK’s Change Access Device facility.

     

    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.

     

    LIABILITY

    Subject to the provisions herein, 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 and as prescribed by the regulatory body.

    If the BANK is found liable for any act or omission for the BANK’s provision of services in relation to the Account or any reason whatsoever, its liability will be limited to the service fee charged to me or my actual proven damages, whichever is less. It will not be liable for any indirect, special or consequential loss or damages arising in any way out of the BANK’s provision of services in relation to the Account or any reason whatsoever unless the BANK is found to be guilty of gross negligence and willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the CLIENT.

     

    COMPLIANCE WITH RELEVANT LAWS, RULES AND REGULATIONS

    The Depositor warrants and agrees that he/she will comply with all laws, regulations, ordinances, rules, decrees, and other directives applicable to my use of Security Bank Online and other services of Security Bank Corporation. In no event shall Security Bank Corporation be obligated to take any action that it believes, in good faith, would cause it to be in violation of any laws, regulations, ordinances, rules, decrees, or directives applicable to the Account or the Depositor.

    Security Bank Corporation and the Depositor shall likewise comply with the provisions of Republic Act No. 10175 or the Cybercrime Prevention Act of 2012, its Implementing Rules and Regulations, Republic Act No. 9160, as amended or the Anti-Money Laundering Law, as amended, and its Implementing Rules and Regulations, Republic Act. No. 10173 or the Data Privacy Act of 2012, its Implementing Rules and Regulations, and other related issuances, laws, and regulations, as may be applicable.

     

    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.

    Fees and Charges
    Fees and Charges
    Dormancy (starts on the 25th month) -per month PHP350
    Charge for Falling Below Min. Bal – per month PHP300
    Early Closure Fee (within 30 days) PHP300
    Card Replacement Fee PHP150
    Interbank Withdrawal Fee(BancNet/Megalink) PHP10

    For further inquiries, please call the Security Bank hotline at 887-9188.

    List of Valid IDs
    Primary ID Secondary ID
    ACR / ICR Barangay Certification
    Digitized Persons with Disabilities (PWD) ID City Health Card / Health Certificate Card
    Driver’s License Company ID – Shall be classified as Primary ID for Security Bank employees and subsidiaries
    GSIS e-Card DSWD Certification
    Integrated Bar of the Philippines GOCC ID [e.g. Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)]
    Maritime Industry Authority (MARINA) ID NBI Clearance
    NCDA ID OFW ID
    Passport OWWA ID
    Philippine Identification (PhilID) Card Pag-IBIG Loyalty Card
    Postal ID (PVC Plastic Card) Digitized/PVC PhilHealth Insurance Card ng Bayan (PHICB)
    PRC ID Police Clearance
    School ID Postal ID (Paper-based card)
    Senior Citizen Card Seaman’s Book
    Special Resident Retiree’s Visa (SRRV) ID Solo Parent ID
    SSS Card Tax Identification Number (TIN)
    Unified Multi-Purpose ID  
    Voter’s ID  

    Additional identifications (IDs) or documents may be required by our branch based on the interview and the type of account to be opened. The Bank reserves the right to decline account opening request based on its evaluations.

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