Terms and Conditions Governing Deposit Accounts

Gentlemen:
I/We, the undersigned depositor/s, hereinafter referred to, singly as the “Depositor” and collectively as the “Depositors”, hereby agree to the following terms and conditions
governing deposits with BDO Unibank, hereinafter referred to as “BDO” :
General Provisions On Deposits
I. Opening of Accounts (including Time Deposit Accounts) to the payment in whole or in part of any obligation
Deposit accounts, hereinafter referred to as the “Account”, may be opened subject to the that may be due to BDO from the Depositor or any one, or all, of the Depositors in a joint
approval of BDO, after taking into consideration the presentation of references account without incurring any liability therefor.
acceptable to BDO and after verification of applicant's identity and/or authority to open VI. Withdrawals
the account. The Depositor warrants that he is not suffering from any legal disability
upon opening of the account. All withdrawals must be made by the Depositor by filling out the required forms.
Withdrawals by a person other than the Depositor himself may be allowed only upon the
The Depositor shall maintain the required Average Daily Balance (ADB) as the Depositor Depositor's written authorization, accompanied by at least one valid identification card of
may be notified by BDO from time to time. A service fee shall be charged if the account the person authorized, which shall be verified by BDO.
falls below the required ADB.
The Depositor will not be permitted to withdraw from his account any amount in excess
II. Documentation of the outstanding available balance to his credit.
Documents required for personal accounts, corporations, partnerships, associations or
entities must be submitted to BDO. VII. Service and Other Bank Charges
BDO is authorized to obtain and verify information relating to the Depositor from BDO is authorized to collect from the Depositor all applicable service charges, penalty
government agencies or third parties including banks, financial institutions, and credit charge and other fees the account may incur. BDO reserves the right to impose new
bureaus to verify information provided by Depositor, conduct background check on the service and maintenance charges and change existing charges from time to time within
financial capability of the Depositor or for other purposes as BDO may deem necessary. the limits allowed by law or pertinent regulations.
BDO, without need of prior notice, is authorized to deduct all such charges and fees from
III. Deposits
the account without incurring any liability therefor not limited to any loss, damage, cost
All deposits must be made by the Depositor or by his representative by accurately filling
or expense arising from or in connection with the dishonor of checks, drafts, notes or
out the forms required to make such deposit. If the Depositor is unable to write for some
other instruments because of insufficient funds as a result thereof.
reason, he must have the form filled-out by any person other than an employee of BDO.
BDO shall not be liable for losses caused by any and all inaccuracies in filling-out the VIII. Change of Personal Information or Circumstances
form. BDO should be properly notified in writing of any change in the personal information.
The initial deposit and the minimum subsequent deposits must be in such amount as (e.g. Postal Address, Marital Status, etc.)
may be reasonably determined by BDO. BDO may refuse certain items for deposits, such All correspondences relative to the account shall be sent to the Depositor's present postal
as second endorsed checks and checks presented after six (6) months from date of address indicated in BDO's record.
issue, otherwise considered as stale checks. BDO may, at its discretion, refuse to accept IX. Closing of Accounts
deposits or at any time return all or part of a deposit together with the interest due. Only the Depositor may close an account. The Depositor may close the account by filling
Deposit of checks, drafts, money orders and treasury warrants shall be accepted by BDO out the prescribed form for withdrawal. The Depositor will pay a service charge in such
conditionally, i.e. as subject to collection only, and shall not be considered as credited to amount as may be reasonably imposed by BDO if the account is closed within thirty (30)
the Depositor's account until the proceeds thereof shall have been definitely received by days from date the account was opened. However, BDO reserves the right to immediately
or credited to BDO. The client obligates himself to reimburse BDO any and all amounts close the Depositor's account at any time without prior notice in case of
credited by BDO to his deposit account equivalent to the face value of the items, misrepresentation or falsity of information provided by the Depositor or if BDO perceives,
including bank charges and other expenses, if any, should any item be dishonored due to at any time and in its sole discretion, that the account may be or may have been used or
fraud, forgery, material alteration or for any reason whatsoever. In this connection, BDO is is being used in connection with any fraudulent or illegal activities or transactions; or if
hereby given full power and authority, at its sole option, to debit said amount/s from any BDO perceives, at any time and in its sole discretion, that it may be exposed to any
account of the client with BDO and / or set-off the same against any of the client’s funds financial, operational, legal, reputational or other risk in maintaining the account, or if the
/ property in the actual / constructive possession and / or control of BDO. Furthermore, Depositor fails to abide by any provision of the terms and conditions for deposit
the client hereby knowingly, unconditionally and irrevocably releases and discharges accounts.
BDO, its owners, directors, officers, employees, agents and representatives from any BDO reserves the right to close the account if the Depositor has handled his account in a
right, claim, cause of action that the client or any third party may now or in the future may manner not satisfactory to BDO and/or if the Depositor draws checks against insufficient
claim against BDO arising from or in connection with the transactions contemplated funds and/or uncollected deposits and any two (2) of such checks are presented to BDO
herewith. All endorsements and/or lack of endorsements on the items deposited are within a 30-day period. In such event, BDO shall pay the Depositor the balance of his
guaranteed by the Depositor. The Depositor assumes full responsibility for the account, if any, upon his return of unused checks to BDO. Furthermore, BDO and its
correctness, due execution, genuineness and validity of all endorsements appearing on officers and employees shall be held free and harmless from any liabilities, claims and
all checks or other items deposited. demands of whatever kind in connection with or arising from (a) closure of the
The Depositors shall be deemed to warrant each time any deposit or withdrawal is made account(s) and/or (b) the dishonor of any check which may be presented to BDO after
on the account that the Depositors have full and absolute title and right of disposition the closure of the account(s) and/or (c) the reporting of BDO of the account closure and
over all monies, checks and funds in the account. the reason therefore to Banker's Association of the Philippines (BAP) or any monitoring
IV. Joint Accounts entity or body established by BAP or law to keep record of and monitor mishandled
A. Joint OR Account deposit accounts.
i. BDO shall honor the signature of any one of the Depositors named in the account in X. Interest Credits
the payment of funds or in the transaction of other business on the account. Interest bearing accounts shall earn interest at a rate determined by BDO on a per annum
ii. Checks, drafts, bills of exchange and/or other instruments for the payment of money basis and in accordance with pertinent laws, rules and regulations. Interest shall be
payable or purporting to belong to any one or more of the Depositors may be computed based on daily available balance and credited to the account at the end of the
endorsed by any one of the Depositors/payees for deposit to the account. month, less of applicable withholding tax. However, no interest shall be paid on dormant
accounts or those closed prior to crediting of interest at the end of any month.
iii. BDO has full authority to honor and pay via debit from the account, checks or other
written orders of the Depositors as the case may be, all without need for inquiry by XI. Dormancy and Unclaimed Balances
BDO as to the use or disposition which may be made of the fund so withdrawn. Accounts including those with Automatic Transfer Facility options which have no
iv. The account shall be payable to, and collectible by any one or all of them, as the case financial transaction for at least one (1) year (12 months) for Current Accounts and two (2)
may be, during their lifetime; and upon the death of any one of them, shall be years (24 months) for Savings Accounts shall be classified DORMANT. Dormancy fee
payable to the survivors unless the law provides otherwise. shall be charged aside from the maintenance fee for falling below the required minimum
B. Joint AND Account monthly Average Daily Balance (ADB).
i. BDO shall require the signatures of all the Depositors named in the account in the Pursuant to the provision of existing laws, all “unclaimed balances” which represent
payment of funds or in the transaction of other business in the account, unless deposits of money and/or interest accrued thereon held by BDO for any depositor who
otherwise indicated. BDO shall be free from any loss, damage or liability of whatever has no further financial transactions for a period of ten (10) years or more shall be
kind or nature arising from or in connection with any arrangement adopted by the reported and, when so ordered, deposited by BDO to the Treasury of the Philippines, to
Depositors requiring less than all the signatures of the Depositors. the credit of the government of the Republic of the Philippines.
ii. The Depositors shall be jointly and severally liable for the payment of any XII. Philippine Deposit Insurance Corporation (PDIC) Rules
obligation to BDO. BDO may, at anytime at its own discretion, with or without Account/s shall be subject to applicable PDIC laws, rules and regulations including the
notice to anyone of the Depositors apply all or any part thereof to the payment in insured value.
whole or in part, of any indebtedness that may be due to BDO from anyone/all of
XIII. Miscellaneous
them and offset a corresponding amount of such indebtedness against such
In the event of emergencies which merit the issuance of a work suspension order by
balance.
appropriate public official in any or all of the Philippine Clearing House Corporation
iii. For all intents and purposes, BDO shall assume that at all times, the Depositors own (PCHC) covered clearing areas, by which PCHC shall, with the approval and concurrence
the account in equal shares, unless BDO is otherwise notified in writing signed by all of BAP, suspend the clearing in the affected areas or clearing exchanges shall be deemed
Depositors. automatically suspended, BDO, without prior notice to anyone of the Depositors is
C. Declaration that Co-Depositors are Alive (Perjury Clause) authorized to extend automatically the number of clearing days of bank check deposits.
In joint accounts (whether “Joint Or” or “Joint And”), each Depositor declares and However, should the announcement be made later in the day when items have already
affirms, under the penalty of perjury that his co-depositors are still living at the time of been received for deposit by BDO, then such items shall be processed the next clearing
withdrawal and BDO shall fully rely on said declaration. The Depositors shall hold BDO day.
free and harmless against any losses, damages, claims or liabilities which may arise as
XIV. Other Provisions
a result of or in connection with BDO's reliance to said declaration.
In case of extraordinary inflation or deflation of the currency stipulated herein, the
V. Legal Compensation Clause provision of Article 1250 of the Civil Code shall not apply. BDO reserves the right to
The Depositor or Depositors shall be, jointly and severally, as the case may be, liable for amend the general terms and conditions stated herein at any time and without need of
the payment of any obligation of the Depositor, or any of the Depositors in a joint prior notice of changes to the Depositor.
account, to BDO. BDO may at its own discretion apply all or any part of the Accounts
 Special Provisions On Deposits

I. Savings Account with Passbook B. Withdrawals

The savings passbook is not transferable or assignable. No entries other than those effected Withdrawals are allowed against cleared balances only. Deposits become cleared funds
by BDO itself shall be recorded in the passbook. In the event of any discrepancy between the only after completion of clearing or holding periods as prescribed by BDO.
entries in the passbook and those appearing in the records of BDO, the latter shall prevail. Withdrawals made in the form of currency notes is subject to the availability of the
If the passbook is lost, mislaid or stolen, BDO should be immediately notified by the depositor currency. However, the depositor may be requested to give at least one (1) day advance
in writing by executing an Affidavit of Loss. Consequently, BDO will not be held liable for notice of any withdrawal where the interest of the Depositor or BDO so dictates.
payments made to any person who shall present such passbook if no affidavit of loss was C. Interest Credits
submitted by Depositor prior to the payment. Deposits earn interest after a specified period as prescribed by BDO. Interest is based on
All entries posted in the passbook should be examined by the Depositor on the same the daily available balance not falling below the required minimum interest earning
occasion or before leaving the bank premises. Otherwise, BDO will be relieved of the balance.
responsibility in connection therewith. D. Service and Other Bank Charges
The passbook must be presented in every deposit or withdrawal transaction. Correspondent bank charges on checks/items sent for collection abroad are for the
II. Current Accounts account of the Depositor.
A. Statement of Account (S0A) A prescribed service charge in dollar or its peso equivalent converted at prevailing selling
The Depositor shall carefully check all entries in the Statement of Account (SOA) as well rate of the BDO shall be collected for accounts closed within certain number of days from
as the attached negotiated checks including the signatures and endorsements found date of opening as prescribed by BDO.
therein. Depositor shall report to BDO any exception to any entry therein within ten (10) Charges on returned items shall be based on the actual charges of the correspondent
days from receipt of the SOA. If BDO receives no communication from the Depositor bank.
regarding the SOA and its attachments within said period, it shall be considered complete
IV. BDO Kabayan Savings Accounts
and correct and shall be deemed as an agreement on the Depositor's part to have waived
A. Account Restriction
any claim against BDO on any matter contained therein. SOA and canceled paid checks
BDO Kabayan Savings Account is being offered primarily for crediting of remittances,
not claimed within a period of six (6) months from their availability shall be destroyed by
coursed through BDO Remittance Unit.
BDO and the Depositor concerned shall be deemed to have waived any right to take
Only cash deposits shall be accepted over the counter. Check deposit may be accepted
exception to the completeness and correctness of any such SOA. If the SOAs for six (6)
upon presentation of the required valid identification cards.
consecutive months were not claimed, BDO shall no longer print the succeeding SOAs.
B. Bank Penalties and Charges
The Monthly Statement of Account (SOA) shall be provided to the Depositor based on the
A periodic review shall be made on the account history. Should there be no remittance,
disposition indicated in the Signature Card :
coursed through BDO Remittance Unit within a period of one (1) year, the account shall
i. Electronic Statement of Account (eSOA) - If the Depositor chose the eSOA, then the automatically be converted to a Regular Savings Account subject to existing terms and
Depositor acknowledges and agrees that access to eSOA will be exclusively through conditions governing Regular Savings Account.
BDO Online Banking. The Depositor shall be solely responsible for registering into the
C. Kabayan Savings Accounts with no remittances within one (1) year shall be reclassified
system and agrees to be bound by the terms and conditions governing the use of the
automatically to Regular Savings Accounts.
facility. The Depositor further agrees that BDO is not obliged to provide paper SOA and
any and all requests for printing of paper SOA, regardless of whether or not it is the latest V. Junior Savers Accounts
statement cycle, shall only be provided subject to the payment of applicable charges. BDO may, without notice to the Depositor, convert the account to Peso ATM Savings account
ii. Statement Of Account (SOA) on Demand – If the Depositor chose the paper SOA, then once the child reaches the age limit specified by BDO.
the Depositor agrees that printing and providing of SOA shall not be automatic. The VI. Time Deposit Accounts (including Premium Flexi Earner and Mega Savings Accounts
SOA shall be provided by the Branch of Account only upon the request of the Depositor. among others)
The Depositor further agrees that only the SOA, together with the images of the A. The Certificates covering any and all time deposits ( the “Certificates” ) are not negotiable
negotiated checks, of the latest statement cycle shall be free of charge. Standard bank instruments and may not be negotiated by endorsement and/or delivery but may be
charges shall apply for requested SOA representing previous months. assigned with BDO's prior consent in writing. The assignment of the Time Deposit (TD)
B. Checkbooks Certificate shall not be binding on BDO unless made with its prior consent in writing.
Checkbooks are given by BDO to the Depositor for a fee as requested. As such, the Check Deposit to open a Time Account is subject to final collection from the drawee bank.
Depositor shall be responsible for the safekeeping and security of his/her checkbooks. In case check is dishonored by the drawee bank, the Certificate shall automatically be
Only the Depositor or the duly authorized signatory/ies of the account may draw or issue canceled.
checks against the account. All blank spaces on checks drawn must be properly
B. The initial interest rate and principal amount are reflected on the face of the Certificate.
completed. BDO may dishonor checks if signatures are not in accordance with specimen
Upon renegotiation on maturity, the new principal, new rate, new value and maturity date
signatures on file with BDO. Unauthorized checks shall be dishonored.
will be updated and documented in a TD Renewal Advice.
The use of MICR checks printed by or secured from entities other than those accredited by
C. Time Deposit Renewal Advice
the Bankers Association of the Philippines (BAP) Accreditation Board shall constitute a
TD Renewal Advice is non-negotiable and not an evidence that the account is still
waiver on the part of the drawer/issuer of the rights to claim for reimbursement/refund or
outstanding with BDO. In case of conflict in the TD Renewal Advice and the records of
damage of any kind arising therefrom.
BDO regarding the account, the records of BDO shall be valid and binding.
The Depositor agrees not to draw checks against insufficient funds and/or uncollected
The Depositor shall carefully check and monitor all entries in the Time Deposit Renewal
funds, and in case this arises, the Depositor agrees to pay the penalty charges, in addition
Advice and report to BDO any error within five (5) days from receipt hereof. If BDO
to service charges. The Depositor shall hold BDO free and harmless from all liabilities,
receives no communication regarding the entries in the Time Deposit Renewal Advice
expenses and costs that may be incurred on account of refusing payment of said item/s.
within the said period, it shall be considered complete, correct and a waiver on the part of
The return of checks drawn against insufficient funds (DAIF), or those drawn against the Depositor to claim against BDO any matter contained therein.
uncollected deposits (DAUD), or with technical defects, shall be governed by the rules and
D. Early Redemption
regulations of the BSP and the PCHC. BDO reserves the right to dishonor and return
Any early redemption of, or partial withdrawal from, time deposits will result in the closure
checks, at its discretion, without prior notification at any time. The Depositor shall hold
of the account in which case the provisions of VI (F) will apply. BDO reserves the right to
BDO free and harmless against any and all losses, damages or liability arising from such
require at least one (1) day advance notice for redemptions to be made before maturity.
dishonor and return.
Time Deposit Accounts redeemed before the stipulated maturity date shall be subject to
All transactions made shall be honored only at the branch where both Savings and Current
BDO's early redemption policy. For Peso Time Deposit accounts, the documentary stamp
Accounts are maintained.
tax value based on the current principal shall be automatically deducted by BDO from the
The Bank shall not be held liable for any damage caused by any error in the transfer, or for proceeds of redemption.
errors committed in good faith that may cause the return of a check.
E. Non-Renewal
C. Stop Payment Order Time Deposit Accounts not redeemed, renewed or rolled over on its stipulated maturity
Filing of “Stop Payment Orders” on checks and the subsequent revocation of the same date shall automatically earn interest equivalent to BDO's prevailing savings rate from the
shall not be valid unless made in writing and receipt thereof is duly acknowledged by BDO. date of said maturity to the date of actual redemption or written instruction to renew or
If a check or checks are lost, mislaid or stolen, BDO should be immediately notified by the roll-over. Interest earned from a Time Deposit Account shall be taxed based on the ceilings
depositor and a Stop Payment Order (SPO) shall be applied for each of the checks to prescribed by law and corresponding revenue regulations from time to time.
prevent negotiation. Consequently, BDO will not be held liable for payments made on any F. Closure of Account
of the checks if no SPO was applied for prior to the payment. The Certificate shall be surrendered to BDO upon termination of the time deposit account.
D. Check Image Clearing System Rules and Regulations In case the original copy of the Certificate is lost, the Depositor shall immediately notify
The Depositor agrees to, and consents to the compliance by BDO with, the Check Image BDO in writing by executing an Affidavit of Loss duly notarized and giving therein all the
Clearing System, or such other electronic check clearing system, as the Philippine Clearing circumstances surrounding the loss of the Certificate.
House Corporation (PCHC) may adopt and implement from time to time including any VII. Other Provisions
and all PCHC rules and issuances regarding the same and/or any amendments thereto,
which are deemed incorporated hereto by reference. The Depositor hereby waives the A. Separability Clause
presentation for payment of the original check to the drawee and consents to the use of If any or some of the terms and conditions herein is declared invalid or unenforceable, the
the digital image of the original check in clearing. The Depositor further agrees that the rest of the provisions will not be affected thereby.
original of the check shall be kept by the bank where it was presented and only images of B. Coverage of Terms and Conditions
negotiated checks shall be provided in the eSOA or printed SOA, as the case may be. All the terms and conditions above apply to all deposit account/s whether existing now or
Finally, the Depositor acknowledges and agrees that unless earlier retrieved by the to be opened hereafter. BDO may amend the terms and conditions and special provisions
Depositor, the original check shall be destroyed by the bank where it was presented upon stated herein at anytime and without need of prior and subsequent notice of changes to
the lapse of the period prescribed under the applicable PCHC rules. the Depositor.
III. Foreign Currency Savings Accounts
A. Deposits
BDO prescribes charges, processing fees and holding periods on certain deposits and
clearing periods on check deposits. All deposits that are dishonored or found to be
counterfeit, whether or not returned to BDO, shall be charged against the client including
applicable fees, charges and penalties.

For any complaint or concern, the Depositor may visit our branch or our BDO Consumer Assistance Management System online at https://www.bdo.com.ph/consumer-assistance. The
Depositor agrees and understands that BDO shall take actions within 10 banking days from receipt of complete information and relevant documents in hard copies or electronic form
from the Depositor. For complaints/concerns requiring more time to investigate and resolve, BDO will accordingly advise the Depositor including its progress.

BDO is regulated by the Bangko Sentral ng Pilipinas. For more details, the Depositor may contact (02) 8708-7087 or send email to consumeraffairs@bsp.gov.ph.