Ready Cash

In these Terms and Conditions Governing the Ready Cash Facility ("Terms and Conditions"), the term "Security Bank Card" means all credit cards issued by SB Cards and Security Bank ("Security Bank"). The term "Cardholder" means any person at whose request one or more Security Bank Cards have been issued.

1. Ready Cash is a form of cash advance facility wherein select principal cardholders in good credit standing may avail of cash directly charged to his/her Security Bank credit card, with applicable interest and other fees to be paid on an installment basis.
2. The Ready Cash availment shall be subject to the verification and credit approval of Security Bank.
3. Where Security Bank approves a Ready Cash availment, the total ready cash amount shall be subject to these terms and conditions and all applicable terms and conditions under the Terms and Conditions Governing the Issuance and Use of Security Bank MasterCard Credit Card and Diner's Club Credit Card ("Cards Terms and Conditions") and all related provisions of the Security Bank In-house Installment Plan.

1. The Cardholder must be a principal Security Bank credit cardholder and must be in good credit standing.
2. The total amount of Ready Cash availed ("Total Ready Cash Amount") should not be less than ten thousand pesos (P10,000).
3. The cardholder shall be required to provide the following:
   1. Total Ready Cash Amount; r
   2. Ready Cash Terms
   3. Beneficiary bank account details where Ready Cash proceeds will be credited:
      • Bank name; and
      • Bank account number; and
4. The approved total Ready Cash amount must not exceed 90% of the cardholder's available credit limit.

1. Security Bank has the absolute right and option to approve a Ready Cash availment in an amount less than the total ready cash amount requested by the Cardholder.
2. Security Bank has the absolute and exclusive right to approve or reject all Ready Cash availments.
3. Should the Cardholder's available credit limit be not sufficient to cover the Ready Cash amount availed for the chosen repayment period, Security Bank shall, at its sole discretion, determine and approve only a portion of the Ready Cash amount availed for, without the need to inform the Cardholder beforehand.
4. In case of rejection of a Cardholder's Ready Cash availment request, Security Bank is not required to notify the Cardholder of such rejection and the reason therefor. Thus, it shall be the Cardholder's responsibility to follow up the status of his/her Ready Cash availment/s with the Security Bank.
5. Once a Ready Cash availment is approved, the proceeds of the Ready Cash availments shall be credited to the Cardholder's designated bank account under the cardholder's name. The designated bank must have a branch in the Makati Central Business District and must accept inter-branch/bank deposits. Any and all inter-branch/bank deposit or transaction fees shall be charged to the Cardholder's account.
6. Once the Ready Cash availment is approved, the monthly amortizations shall be posted on the Cardholder's monthly statement of account. These shall form part of the total outstanding balance due in the Cardholder's statement of account. If the Cardholder revolves any portion of the total outstanding balance due in any given month, the account shall be subject to the computation of the Finance Charge and Late Payment Charge (if applicable) for that month.
7. If a portion of the Ready Cash remains unpaid after the chosen repayment period, the corresponding unpaid principal amount shall be charged the prevailing, standard monthly finance charges of the applicable Security Bank credit card. Should any portion of the monthly add-on interest due in any given month remains unpaid, the corresponding late payment and finance charges under the Ready Cash plan shall be applicable.
8. Once approved, the Ready Cash transaction can no longer be reversed. In case of pre-termination or cancellation of the approved Ready Cash transaction before the end of the chosen repayment period, Security Bank reserves the right to charge the Cardholder's account Five Hundred Pesos (Php500.00) as processing fee for the pre-termination of the Ready Cash transaction.
9. The add-on rates are determined by Security Bank and may be subject to change in accordance with the prevailing market rates for similar transactions and terms.
10. By submitting the form and/or application, the Cardholder thereby agrees that he/she is applying for the Ready Cash Facility at regular add-on rates notwithstanding that he/she may be qualified for personalized add-on rates which may be equal or lower than the regular add-on rates.
11. In the event that a Cardholder ceases to be of good credit standing through any of the following: (i) suspension, (ii) cancellation, or (iii) non-renewal of Security Bank credit card due to non-payment or breach of these terms and conditions, the Terms and Conditions Governing the Issuance and Use of Security Bank MasterCard Credit Card and Diner's Club Credit Card ("Cards Terms and Conditions") and all related provisions of the Security Bank In-house Installment Plan shall be applicable, and all of the unpaid installment terms as well as other account balances shall immediately become due and demandable.