General Terms and Conditions 
Governing EastWest Accounts

• Documentary Stamps Tax. Cost of checks and documentary stamps will be for your account.
• Returned/Dishonored Checks. Return of checks drawn against insufficient funds (DAIF), drawn against uncollected deposits (DAUD), or due to technical defects will be governed by the rules and regulations of the PCHC and the BSP. We may dishonor checks in accordance with applicable laws, regulations and bank policies. We will have no liabilities arising from the said dishonor.
• Mishandled Accounts. We are authorized to close account/s even without prior notice in case said account/s are mishandled by the issuance of unfunded or insufficiently funded check/s or involvement in any fraudulent or illicit activities and to report such closure and reason/s thereof to the BSP, the Banker's Association of the Philippines (BAP), or to any central monitoring entity or body established by the BAP to keep record of and monitor mishandled deposit accounts of member banks. You shall keep us and our officers and employees free and harmless from all liabilities, claims and demands of whatever kind in connection with or arising from: (a) the closing of account/s; (b) the dishonor of any check/s thereunder which may be presented to us after the closing of the account/s; and/or (c) the reporting of the closure of account/s and the reason/s thereof to the BAP or to any central monitoring entity or body established by the BAP.
• MICR Checks. Your use of MICR checks that were not issued to you by the Bank and were printed or secured from entities other than those accredited by both the Bank and the BAP Accreditation Board for drawing against your current account with us, shall constitute a waiver on your part of the rights to claim reimbursement/refund or damage of any kind arising therefrom.

• Items for Collection. Checks denominated in foreign currency received as deposits and sent to a foreign correspondent bank for collection/clearing shall be governed by the following special conditions: (1) we are acting only as your collection agent; (2) we shall not be liable for any loss, damage, or delay due to causes beyond our control, acts of God, civil disturbances, mail delays/fraud, equipment/systems failures, or other events of force majeure; and (3) we shall not be liable for any claim for non-payment of any item unless the non-payment results from our proven gross negligence or willful misconduct.
  
  Check deposits previously presented and subsequently returned by the drawee banks cannot be re-deposited.We reserve the right to charge clearing and/or collection charges for checks denominated in foreign currency for deposit/collection. You authorize us to immediately debit any of your foreign currency or peso accounts for returned checks, our minimum charges and other amounts the foreign collecting bank may impose for any returned check.
• Income Tax. Interest income from foreign currency deposits of Philippines residents is subject to tax in accordance with Philippine law.

• Transactions. Your joint 'or' account authorizes us to allow deposits, withdrawals, check transactions or written payment orders, with any number or all of the individuals who are joint account holders and whose signatures are indicated in the specimen signature card, and automatically vests in any of you to do whatever is desired with the funds without the consent of the other co-account holders.These may include checks or credits in favor of the one who signed for these withdrawals. If we receive any of these without an endorsement, we shall endorse them on your behalf and credit these to your account. We will process all these without inquiry or regard to disposition, even in cases where your account is overdrawn as a result of bank charges, and you agree to hold us free and harmless from any liability arising therefrom. Any number or all of you will be jointly and severally liable for any overdrafts on your account, as well as other interest charges we may have to impose in the course of the operation of your account. We may, however, require the written consent or approval of any or all of you for fund transfers from your joint account to any individual account (s) with us, whether owned by any, all or none of you.
• Client Instructions. At our discretion, and in the absence of instructions to the contrary, we shall credit any and all funds we receive, which purport to belong to any one or more of you, to your joint 'or' account.
  In case we receive contradictory instructions from your co-account holder (s), we may, at our option, require all co-account holders to provide us with common instructions. In the absence of the latter, we may opt to either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve your respective claims thereat. You agree to reimburse us for the cost of suit, attorney's fees, and other expenses that we incur in doing so.
  All of you hereby hold us free and harmless from and against any and all liabilities which may arise by reason of our implementation of any of your instructions or refusal to pay any proceeds of your joint 'or' account without the requisite discharge by all of you given to our satisfaction.
• Withdrawals. Whenever one or more of you withdraw from your joint 'or' account, you are doing so with the explicit and sworn declaration under pain of perjury, that all your co-accountholders are still living on the date of withdrawal.
  Upon the death of a co-accountholder, the withdrawal or release of the funds in your joint 'or' accounts shall be subject to applicable Philippine laws, regulations, and orders of courts of competent jurisdiction.
• Internet Banking Transactions. It is understood that all transactions made by anyone to your joint 'or' accounts via our internet banking facility are done with the consent of all co-account holders.

• Transactions. Your joint 'and' accounts authorize us to allow deposits, withdrawals, check transactions or written payment orders only with written consent, approval or signature of all the co-account holders of the Joint 'and' Account.
• Client Instructions. We shall only act on the instructions given or agreed by all of the co-account holder (s) of the joint 'and' account.In the event that no common instructions are given by all of the co-account holder (s), we may, at our option, either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve your respective claims thereat, it being understood that you shall reimburse us for the cost of suit, attorney's fees, and other expenses that we incur.
  
  All of you hereby hold us free and harmless from and against any and all liabilities which may arise by reason of our implementation of any of your instructions or refusal to pay any proceeds of your joint 'and' account without the requisite discharge by all of you given to our satisfaction.
• Withdrawals. Whenever one or more of you withdraw from your joint 'and' account, you are doing so with the explicit and sworn declaration under pain of perjury, that all your co-accountholders are still living on the date of withdrawal.
  
  Upon the death of a co-accountholder, the withdrawal or release of the funds in the joint account shall be subject to applicable Philippine laws, regulations and orders of courts of competent jurisdiction.
• Internet Banking Transactions. Joint 'AND' accountholders are not allowed to access their deposit accounts via our internet banking facility.

• Revocability. You may designate the FAO/ITF account as revocable or irrevocable. Under a revocable FAO/ITF account, you reserve the right at any time to close or terminate the account or withdraw any amount therefrom in accordance with these Terms and Conditions, without the consent of, or notice to, any beneficiary. Under an irrevocable FAO/ITF account, you relinquish your right to close or terminate the account and no part of the funds therein shall revert to you or may be withdrawn by you. In the absence of your written instruction, we shall process the FAO/ITF account as revocable.
• Deceased Depositor. Whatever funds remain in the FAO/ITF account upon your death shall be beneficially owned by the beneficiary (ies) and shall accordingly be released by us to the said beneficiary (ies) or to the latter's legal guardians or representative (s) upon presentation of the appropriate identification and the required tax clearance.We may require your beneficiary (ies) to provide us with an acceptable indemnity agreement,court order on appointment of legal guardian,and any other document that we may deem necessary.

Stop Payment Orders (SPO) will be made by you in writing through our branches.SPO requests may also be coursed through our Call Center, internet banking or any other electronic channel upon availability, subject to our defined SPO procedures per channel. Upon requesting for an SPO, you agree to the following:

• You will hold us free and harmless from any liability whatsoever and howsoever caused.
• You shall reimburse us for all costs, damages, expenses and injury for which we may be liable by reason of (1) non-payment of the check (2) payment contrary to the SPO if such payment occurred through inadvertence, accident or oversight (3) payment made before date and time when the SPO was received by the Bank.
• We shall return the check/s for the reason 'SPO-DAIF' (drawn against insufficient funds) if such will be the case,regardless of SPO.
• We shall debit your account for payment of fees and charges in relation to the SPO. You may likewise opt to pay these in cash.
• You will notify us promptly (subject to the applicable SPO cancellation procedures) if the check/s is/are paid,recovered or destroyed or if for any reason the SPO may be cancelled.
• For dated checks,the SPO will be in effect for six months from the date of the check/s unless you earlier cancel or renew it,as check dated more than six months upon presentation shall automatically be rejected for the reason 'stale dated'.
• For undated check/s, the SPO will be in effect for one (1) year, reckoned from the date of the request, unless otherwise cancelled or renewed.

SPO revocation or cancellationthrough our branches will also be in writing. SPO cancellation requests may also be coursed through our Call Center, internet banking or any other electronic channel upon availability, subject to our defined SPO cancellation procedures per channel. Requests for SPO cancellation within the SPO period will take effect only upon our receipt of your instructions.

We reserve the right to charge a fee for the filling of the SPO request and for an SPO cancellation order.

Checks drawn against a closed account will be returned for the reason 'Account Closed' regardless of SPO instructions.

Deposit Accounts for Children. Deposit accounts should be opened by persons of legal age for the benefit and under the name of children below seven (7) years of age. Accordingly, all indemnities/ undertakings/ representations that are supposed to have been made by the child in respect to these Terms and Conditions will be deemed to have been made by the person of legal age acting as Principal to the deposit account.

Consequently, if you open a deposit account for a minor, you agree, confirm and undertake that:

• You are solely and exclusively bound by these Terms and Conditions
• You further agree, confirm and undertake that you are solely and exclusively liable and responsible for all charges/expenses/other monies incurred/due and payable on the deposit account and debited by us from the said deposit account.

Children from 7 to 17 years of age may be allowed to open a savings or time deposit account as principal depositor (subject to P.D.No.734).

• Deposits are insured with the PDIC up to a maximum amount of Five Hundred Thousand Pesos (Php500,000.00) per depositor.
• PDIC shall recognize the registered owner/holder of a Legitimate Deposit in our books as the depositor entitled to deposit insurance,except where our records show that the Legitimate Deposit is maintained in the same right and capacity for the benefit of another depositor, in which case PDIC shall recognize the latter as the beneficial owner of the account entitled to deposit insurance.
• In cases (1) where a deposit account/s with an outstanding balance of more than the statutory maximum amount of insured deposit is/are broken up and transferred into one or more account/s; or (2) for deposit accounts and deposit transfers made in favor of individuals or of entities, either singly or jointly with individuals, from an account in the name of corporation, partnership, association, or unincorporated entity, the PDIC shall recognize the transferee/s as the beneficial owner/s of the account/s when:
  • The transfer was made with all of the following conditions present:
    1. The break-up and transfer of deposit to the transferee is for a Valid Consideration;
    2. The details or information for the transfer, which establish the validity of the transfer from the transferor to the transferee,are contained in any of our Deposit Account Records;and
    3. Copies of documents,which show the details or information for the transfer, such as but not limited to contracts, agreements, board resolutions, audited financial statements, orders of the courts or of competent government body/agency, are in our custody or possession upon takeover by PDIC.
  • The transferee/s is/are the Qualified Relative/s of the transferor. Qualified Relatives are transferees within the second degree of consanguinity or affinity of the transferor.Relationship shall be proven by relevant documents such as, but not limited to, birth certificates and marriage certificates.
• Deposit Splitting occurs whenever a deposit account/s with an outstanding balance of more than the statutory maximum amount of insured deposit maintained under the name of natural or juridical persons is/are broken down and transferred into two or more accounts in the name/s of natural or juridical persons or entities who have no Beneficial Ownership on transferred deposits in their names within one hundred twenty (120) days immediately preceding or during a bank-declared bank holiday,or immediately preceding a closure order issued by the Monetary Board for the purpose of availing of the maximum deposit insurance coverage.
• Upon the determination by the PDIC of Beneficial Ownership or Deposit Splitting, the outstanding Legitimate Deposit/s in the closed bank maintained for the benefit of the beneficial owner/transferor, although in the name of another person/s or entity/entities, shall be subject to consolidation with the other Legitimate Deposits of the beneficial owner/transferor in said closed bank for deposit insurance purposes.
• The following products are excluded from the coverage of PDIC:
  • investment products such as bonds and securities, trust accounts, and other similar instruments, including deposit products used exclusively for settlement of securities brokering transactions;
  • deposit accounts or transactions which are unfunded, or that are fictitious or fraudulent;
  • deposits that are determined to be the proceeds of an unlawful activity as defined under the Anti-Money Laundering Act (Republic Act 9160, as amended); and
  • other products declared by competent authorities to be outside the coverage of the PDIC.

• Account Number – a set of numbers assigned to your account to identify it in our system (s)
• Card Number – a set of numbers assigned to identify your card in our system (s)
• CVC or CVV – Card Verification Code or Card Verification Value. A three or four-digit code found at the back of your debit/prepaid card that provides a cryptographic check of the information embossed on your card. This code helps ascertain that a customer transacting via any alternative channels actually possesses the credit/debit card and that the card account is legitimate. Each credit card company has its own name for the CVV code, but it functions the same for all major card types.
• Password – an unspaced sequence of characters used by our system (s) to identify a user who is authorized to transact and gain access to any account maintained with us.
• PIN – Personal Identification Number.Similar to a 'password', A PIN is also an unspaced sequence of characters used by our system (s) to identify a user who is authorized to transact and gain access to any account maintained with us.
• One Time Password or OTP – a numeric code sent to a registered mobile number via SMS as a secondary mechanism of identifying users who are authorized to transact and gain access to any account maintained with us.
• Security Questions – a set of questions answers registered in EastWest Online to identify who are authorized to do non-financial transactions.

• Keeping possession of your Cards at all times
• Never keeping a written record of your Passwords, Security Questions and Answer, and PINs
• Avoiding Passwords and PIN combinations that may be easily determined by others such as your name, birthday, phone number, address, SSS numbers, etc.
• Not disclosing or not leaving any trace of your Access Codes to anyone else, including but not limited to family members, friends, Bank employees or law enforcement agencies
• Ensuring that no one sees your Access Codes while you are keying it in or logging into any of our Alternative Channels Banking Facility.

• Your Card is lost or stolen or if you suspect that it is lost or stolen or someone else has used it.
• Your Access Codes have become known to someone else or you suspect that it has become known to someone else or that your Access Code/s have been compromised.

• Your use of your Access Codes or the use of these by any person to whom you have made the Access Codes available, directly or indirectly, knowingly or unknowingly
• Your failure to notify us as soon as you become aware that your PIN or password may have been compromised or may have become known to someone else or your Card has been lost, stolen or misused
• An entry error or a fraudulent transaction made through our Alternative Channels Banking Facility

• Fund transfer
• Bills payment
• Checkbook re-order
• Check stop payment
• Statement of account download
• Time deposit opening/termination/rollover

• Customer contact information update
• Link Credit Card
• Reset Password
• Security Question update
• Email the Bank (e.g. service complaints, etc.)

Card and PIN Mailer Delivery. You may personally or through an authorized representative receive your debit or prepaid card through any of the following means:

• Branch pick-up
• Delivery to your latest mailing address per our records

If the Card/PIN mailer is to be delivered to you, it is understood that you authorize us or our official courier to deliver the Card/PIN Mailer to you or, in your absence, to any member of your household, any authorized representative or third party that we allow under our existing delivery policy. Your representative will be required to present a letter of authorization from you together with required government issued identification (ID) cards upon claiming your Card/PIN mailer. You agree to hold us free and harmless from any claim, loss or liability whatsoever arising from the delivery of the Card/PIN Mailer to your authorized representatives.

• Linked Deposit Accounts. You may request for a debit card that may be linked to a single or to multiple deposit accounts and, in case of the latter, subject to a maximum number of accounts and a maximum number of debit cards per account as we may allow.
• Debit Card Installment Transactions. Installment transactions using the debit card will only be allowed at Point-of-Sale (POS) if the available funds in your linked deposit account are sufficient to cover for the full purchase price of the item/service being purchased. Should your available funds be insufficient, the transaction will be declined. Installment transactions will be paid in the prescribed installments (e.g. equal, successive, staggered, monthly, semi-annually, etc.), in the amount and for the tenor indicated in the installment application form or installment sales slip. The first monthly installment due shall be debited from your deposit account immediately upon completion of the installment transaction. The remaining installment balance will be put on hold in your deposit account until succeeding installments become due, are debited against and fully consume this hold amount.

• Non-Transferability. Your prepaid card is non-transferable.
• PDIC Insurance. Unlike a debit card, a prepaid card is not linked to any of your deposit accounts and therefore funds loaded into it are not considered deposits and are not insured with the PDIC.
• Interest and Rewards. Prepaid card balances may only be redeemed at face value. The balance will not earn interest nor rewards and other similar incentives convertible to cash, or be purchased at a discount.
• Loading of Funds to Prepaid Cards. You may reload funds to the prepaid card anytime with the exception of non-reloadable prepaid cards, as we identify. The aggregate load limit per client per month is subject to applicable laws, particularly BSP Circular 649 (Guidelines Governing the Issuance of Electronic Money) and any amendments thereto. We may refuse to accept additional reloading if the resulting monthly load would exceed the said monthly aggregate limits. We reserve the right to charge a fee for reload transactions. Method of fee collection will be dependent on the reload channel and will be charged to you on top of your desired reload value.
  
  Reloading is via:
  • Over-the-counter (OTC) cash reloading through any EastWest branch
  • Fund transfer through EastWest Internet Banking, EastWest ATMs or BancNet ATMs
  • Other channels as we may introduce in the future
• Re-loading Limits. The reloading limit refers to the monthly aggregate amount that you may load to any and all of your Prepaid Cards. Should you exceed this load limit, we will place the exceeded amount on hold for subsequent release on the first banking day of the following month, once the monthly load limit of the Prepaid Card falls below the load limit.
• Prepaid Card issuance to Minors. The Prepaid Card account should be opened by the Parent/Guardian for the benefit and under the name of the minor client concerned. Accordingly, all indemnities/ undertakings/ representations that are to be made by the minor client in respect to these Terms and Conditions will be deemed to have been made by the Parent/Guardian acting as Principal to the Prepaid Card.
  
  Consequently, should you open a prepaid card account under the name of a minor, you agree, confirm and undertake that:
  • We are issuing the Prepaid Card to the minor client solely upon your specific instruction and at your sole risk and liability
  • You are the biological, legally adoptive parent or the legal or court-appointed guardian of the minor
  • You are solely and exclusively bound by the Terms and Conditions for the issuance of the Prepaid Card to the minor and you further agree, confirm and undertake that you are solely and exclusively liable and responsible for all charges/ expenses/ other monies incurred/due and payable on the Prepaid Card that we debit from the Prepaid Card account
• Inactivity, Auto Closure and Card Cancellation of the Prepaid Cards. Your Prepaid Card accounts will become dormant if they are inactive (no client-initiated transactions) for one (1) year. Charging of the inactivity fee shall start from the 13th month of inactivity. In the event that the balance covering your Prepaid Card becomes negative due to the charges of inactivity fees, your Prepaid Card shall be automatically closed. Prepaid cards that remain dormant for ten (10) consecutive years shall be escheated in favor of the Treasurer of the Philippines.
• Account Closure (Pagsara ng Account). You may redeem the remaining balance of your Prepaid Card account through our branch that issued you the prepaid card (over-the-counter) or any of our or BancNet's ATMs. Redemptions will be subject to transaction fees, as we determine and as determined by the international network through which the transaction was coursed. Such transaction fees shall be subject to the exchange rate prevailing at the time of the transaction. (Kung nais mong ipasara ang iyong Prepaid Card account, maaring kunin ang natitirang balance mula sa EastWest branch na nag-bigay sa iyo ng Prepaid Card o sa saan mang EastWest o BancNet ATM. Maaaring may bayad ang pagkuha ng balance depende sa network na ginamit sa pagkuha nito. Maaari ring magkaroon ng karagdagang bayad mula sa foreign exchange rate kung sa labas ng bansa ginawa ang transaksiyon).
• Client Complaints (Mga Reklamo ng Kliyente). You may communicate any complaint regarding the use of your Prepaid Card and Prepaid Card transactions to us through any of the following:
  • Our 24-Hour Customer Service Hotline at service@eastwestbanker.com or contact nos. (632) 8888-1700, Domestic Toll- Free no. 1-800-1888-8600 and U.S. Toll-Free no. 1-866-828-6295
  • Our branch that issued the prepaid card to you
• BSP Circular No. 649. To the extent applicable, these terms and conditions shall be subject to BSP Circular No. 649 Series 2009 (Guidelines Governing the Issuance of Electronic Money) which is deemed incorporated herein by reference.

Client-initiated Card Suspension or Termination. You may request us to terminate or suspend the use of your Card through any of the following:

• Your duly-signed written instructions delivered to and received by us
• Phone instructions given to our authorized representative
• Facsimile
• Email
• Internet banking
• Other electronic means

We will, on a best efforts basis and to the extent practicable, immediately effect the requested cancellation or termination. You will remain responsible for any transaction made on your account(s) until the time that we effect the termination or suspension of the use of your Card.

• You have breached these Terms and Conditions;
• If, in our reasonable opinion, your account is mishandled as determined pursuant to our existing policies and procedures, or if your account or your Card is being used for any unlawful or illegal activity or transactions;
• In case of closure, termination, suspension, garnishment, hold-out or other similar restrictions on your account
• If we have reason to believe that your Card or account has been compromised or that there has been fraudulent or unauthorized use of your Card or account or any information pertaining thereto; or
• We consider that there exists other reasonable ground/s to do so.

• Retrieval Fee. This may be charged for the retrieval of any charge slip or sales invoice copy.
• Foreign Currency Conversion Fee. This will be charged on transactions made in foreign currencies/merchants. The posted peso equivalent amount of your foreign currency transactions is inclusive of the Foreign Currency Conversion Fee.
• Annual Membership Fee. This will be charged for the Card facilities and services that are or that we may make available to you while your Card is not cancelled or terminated.
• Card Replacement Fee. This will be charged per replacement Card.
• Other Fees and Charges. You agree to pay such other fees and charges that may be imposed on your Card account.