TERMS AND CONDITIONS and TERMS OF USE

Own Bank, The Rural Bank of Cavite City, Inc.

October 1, 2025

These Terms and Conditions (“Terms”) govern the opening, maintenance, and use of deposit accounts and mobile banking services offered by Own Bank, The Rural Bank of Cavite City, Inc. (“the Bank”). A “Depositor” refers to any individual or entity who opens, maintains, or uses the Bank’s deposit products or related services. By opening an account or using the Bank’s mobile application (“Mobile App”), the Depositor confirms that they have read, understood, and accepted these Terms, including any future amendments made in compliance with applicable laws and regulations.

The Bank’s deposit accounts are subject to relevant banking rules and regulatory requirements. Transactions made before the Bank’s designated cut-off time will be posted on the same banking day. Transactions completed after cut-off, during weekends, or on holidays will be posted on the next banking day. If the Depositor nominates a source account for payments or transfers, the Bank may automatically link other accounts under the same name without needing separate authorization.

By downloading, installing, accessing, or using the Own Bank Mobile Banking Application (“App”), the Depositor confirms that they have read, understood, and agreed to be bound by these Terms of Use. If the Depositor does not agree with any part of these Terms, they must discontinue use of the App immediately. These Terms apply to all features, services, and functions available through the App and supplement the general Terms and Conditions of Own Bank deposit accounts. In case of conflict, these App-specific Terms shall prevail with respect to mobile banking. For regulatory alignment, these Terms shall likewise be interpreted and enforced in accordance with applicable rules and issuances of the Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corporation (PDIC), Anti-Money Laundering Council (AMLC), National Privacy Commission (NPC), and the Financial Consumer Protection Act (FCPA).

The app may use third-party services that are governed by their own terms and conditions. Upon enrollment in the Mobile Banking Service, products such as loans, deposits, or prepaid cards under the Depositor’s name may automatically be viewable in the app. Some services may require separate enrollment, subject to the Bank’s discretion. The Bank may update the app or its features at any time. Any fees, if introduced, will be communicated clearly before being charged.

The app collects and processes the Depositor’s personal data in accordance with the Data Privacy Act of 2012 and the Bank’s Privacy Policy. The Depositor is responsible for ensuring that their information remains accurate and secure. Continued use of any Bank product or service constitutes acceptance of any revisions to these Terms.

OWN BANK MOBILE BANKING APPLICATION – TERMS OF USE

By downloading, installing, accessing, or using the Own Bank Mobile Banking Application (“App”), the Depositor confirms that they have read, understood, and agreed to be bound by these Terms of Use. If the Depositor does not agree with any part of these Terms, they must stop using the App immediately. These Terms govern all features, services, and functions available through the App and supplement the general Terms and Conditions of Own Bank deposit accounts. In case of conflict, these App-specific Terms shall prevail with respect to mobile banking.

These Terms shall be subject to and construed in accordance with applicable laws, rules, and regulations of the Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corporation (PDIC), Anti-Money Laundering Council (AMLC), National Privacy Commission (NPC), and the Financial Products and Services Consumer Protection Act (FCPA).

MODIFICATION OF TERMS OF USE

Own Bank may revise or update these Terms of Use from time to time. Material changes shall be disclosed to Depositors in accordance with the requirements of the Bangko Sentral ng Pilipinas (BSP) and the Financial Products and Services Consumer Protection Act (FCPA). Notice of such changes will be provided through the App, the Bank’s official website, and, when practicable, via SMS, email, or other direct communication channels. Continued use of the App after the effective date of the update shall constitute acceptance of the revised Terms.

A. DEFINITIONS

For purposes of these Terms and Conditions, the following terms shall have the meanings set forth below:

1. Account(s) – Refers to deposit(s) or deposit placement(s) with Own Bank in any of the Bank's deposit products, including those covered by these General Terms and Conditions.

2. Accountholder / Depositor / The Depositor – Refers to the person(s) or entity/ies who open, enroll in, avail of, or use any product, account, or service of Own Bank, whether individual, joint, or juridical such as a corporation, partnership, cooperative, or association, regardless of number or gender.

3. Average Daily Balance (ADB) – Refers to the total of end-of-day balances in the account for a calendar month, divided by the number of days in that month.

4. Bank / We / Us / Our / Ourselves – Refers to Own Bank, The Rural Bank of Cavite City, Inc., including all its current and future branches, offices, authorized personnel, systems, digital apps, and service channels.

5. Dormant Accounts – Refers to accounts with no depositor-initiated financial transactions for a continuous period of two (2) years, applicable to all account types, and shall be subject to Bangko Sentral ng Pilipinas (BSP) regulations on dormant account classification, service charges, and escheatment, if applicable.

6. General Terms and Conditions – Refers to this document and all related rules, product-specific policies, and service guidelines governing the Bank’s accounts and services, which may be revised from time to time.

7. Mobile Phone – Refers to the mobile device linked to the Depositor’s registered SIM and mobile number maintained in the Bank’s records for security, authentication, and communication purposes.

8. One-Time Password (OTP) – Refers to a six-digit code sent to the Depositor’s registered mobile number or generated via Own Bank Online for the purpose of two-factor authentication or transaction verification.

9. Online Banking Services – Refers to the financial services accessible through Own Bank Online, including balance inquiry, fund transfers, bill payments, and account opening.

10. Own Bank Online – Refers to the official mobile application of Own Bank, used by Depositors to access Online Banking Services; also referred to as the “Facility.”

11. Product / Service / Facility / Deposit Account / Account – Refers to any type of banking arrangement or relationship offered or maintained by the Bank, including but not limited to savings accounts, time deposits, or any other form of deposit or liability account, whether denominated in Philippine Peso or foreign currency, and whether existing now or introduced in the future.

12. RA 11765, or the Financial Products and Services Consumer Protection Act (FCPA) - A Philippine law enacted on May 6, 2022, that aims to strengthen the protection of financial consumers in the country. It mandates financial institutions to uphold fair treatment, transparency, privacy protection, and redress mechanisms in dealing with clients.

13. Regulatory Authorities – Refers to government agencies and oversight bodies regulating financial institutions, including but not limited to the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), Philippine Deposit Insurance Corporation (PDIC), Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bankers Association of the Philippines (BAP), Philippine Clearing House Corporation (PCHC), and National Privacy Commission (NPC), as well as any successor agencies or other competent regulatory bodies.

14. Statement of Account (Statement) – Refers to the document, whether printed or electronic, issued periodically by the Bank summarizing account transactions, balances, and other relevant activity for a specific time period.

15. Transaction – Refers to any valid instruction or activity initiated by the Depositor or their authorized representative—via ATM, POS, branch, or digital channels—those results in a debit, credit, inquiry, or update to the account.

B. ACCESS TO OWN BANK ONLINE BANKING

1. The Depositor may access their deposit accounts and other eligible services by logging into the Own Bank Online mobile application using their registered credentials.

2. Enrollment in Own Bank Online shall be completed through the mobile application. The Depositor must follow the required steps for verification and registration as prescribed by the Bank.

3. During the registration process, the Depositor must provide accurate, complete, and up-to-date information. The Bank may also require the submission of valid identification documents and supporting information as part of its Customer Due Diligence (CDD) obligations in compliance with the Anti-Money Laundering Act (AMLA) and related regulations, which may include but is not limited to:

a. Account number(s), loan account number(s), or credit card number(s);

b. Full name, date of birth, gender, nationality, and civil status;

c. Place of birth and mother’s maiden name;

d. Current and permanent address;

e. Email address and mobile number;

f. Employment information.

4. By registering, the Depositor warrants the accuracy of all submitted information and affirms that their nominated contact details (email and mobile number) are valid and active. These contact details shall serve as the primary channels for receiving One-Time Passwords (OTPs), password resets, enrollment updates, and other digital notifications. The Bank reserves the right to validate this information via the app or through customer support. Upon successful validation, the Depositor will receive confirmation via SMS and/or email.

5. The Bank may collect and store technical and device-related information, including but not limited to device name, model, operating system version, browser type, mobile network provider, country code, IP address, GPS location, and other relevant identifiers. This information is used to enhance security, prevent fraud, improve service functionality, and optimize the user experience. Such data collection and processing may also involve authorized third-party service providers acting on behalf of the Bank, in accordance with the Data Privacy Act of 2012, the rules of the National Privacy Commission (NPC), and the Bank’s Privacy Policy. Depositors’ rights to access, correct, or object to the processing of their personal data shall remain protected under applicable laws and regulations.

6. Access to Online Banking Services shall only be granted upon successful registration and authentication, which may involve two-factor authentication methods. Any transaction completed after such authentication shall be considered valid and authorized by the Depositor.

7. The Bank shall not be required to verify the authenticity of any instruction made through the mobile app beyond the verification of the Depositor’s mobile number via OTP, user ID and password, or biometric authentication (e.g., fingerprint, facial recognition, or retina scan). Provided, however, that the Bank shall exercise reasonable diligence in ensuring that its authentication systems remain secure, reliable, and compliant with Bangko Sentral ng Pilipinas (BSP) regulations on electronic banking and the Financial Products and Services Consumer Protection Act (FCPA).

8. Enrollment in the Own Bank Online facility becomes effective upon the Bank’s confirmation sent via SMS and/or email. Access remains active unless terminated by written request from the Depositor, acknowledged by the Bank.

9. The mobile banking application is generally available 24/7; however, it may be temporarily unavailable due to system maintenance or unforeseen service interruptions. The Bank will endeavor to notify the Depositor in advance of any scheduled downtime that may affect access to Online Banking Services. The Bank shall not be liable for service interruptions caused by force majeure, third-party failures, or regulatory directives, but will exert reasonable efforts to restore access promptly.

C. ONLINE BANKING PASSWORD SECURITY

1. The Depositor must keep their user ID, password, One-Time Password (OTP), account numbers, and all other login credentials confidential and secure at all times.

2. The Depositor is responsible for all transactions made through Own Bank Mobile Banking using their user ID, password, OTP, or biometric authentication. Any transaction validated through these means shall be conclusively deemed authorized by the Depositor, except where loss is directly caused by the Bank’s system failure, gross negligence, or willful misconduct. This provision shall be applied in accordance with the Bangko Sentral ng Pilipinas (BSP) regulations on electronic banking and the Financial Products and Services Consumer Protection Act (RA 11765).

3. Upon successful authentication, Own Bank is authorized to act on any instruction received via the mobile platform. The Bank shall not be liable for any loss, damage, or expense resulting from such instructions made in good faith, except where such loss arises from the Bank’s own system failure, gross negligence, or willful misconduct. The Depositor agrees to indemnify the Bank only for claims, losses, or liabilities arising from the Depositor’s negligence, fraud, or failure to observe the Bank’s prescribed security measures.

4. The Depositor is encouraged to regularly update their password for added security. In case of suspected loss, theft, or compromise of login credentials or mobile device, the Depositor must notify the Bank immediately through its official channels. Upon verified notice, the Bank shall exert best efforts to block access without delay. The Bank shall not be liable for losses incurred prior to such notification, except where such losses are attributable to the Bank’s system failure, gross negligence, or willful misconduct.

5. The Depositor’s password must be kept strictly confidential and should never be shared with unauthorized individuals.

6. When changing passwords, the Depositor must avoid using easily identifiable information, such as names, birthdays, or mobile numbers. To enhance security, the Bank requires compliance with minimum password standards: at least eight (8) characters in length and containing a combination of upper- and lower-case letters, numbers, and special symbols. Unauthorized access to the mobile device must be prevented, and the Depositor should never leave the app open and unattended.

7. OTPs provide an additional layer of security for validating online transactions. The Depositor expressly acknowledges and accepts full responsibility for all transactions or account activity initiated using their registered credentials, including but not limited to passwords, Mobile Personal Identification Numbers (MPINs), and biometric authentication (e.g., fingerprint, facial recognition).

8. The Depositor understands and agrees that deactivating the OTP feature significantly reduces the security of online and mobile banking transactions, and may increase exposure to risks, including but not limited to:

a. account takeover or unauthorized access;

b. fraudulent or malicious transactions;

c. device loss or SIM swapping; and

d. phishing or social engineering attacks.

9. Disabling OTP may increase such risks. The Depositor acknowledges this and accepts responsibility for resulting transactions, except where the Bank is proven negligent, has committed gross oversight, or is complicit in the unauthorized activity. For clarity, Own Bank shall continue to comply with Bangko Sentral ng Pilipinas (BSP) regulations, including Circular No. 808 on multi-factor authentication, in ensuring that appropriate authentication mechanisms remain in place for electronic banking services.

10. In such instances, Own Bank shall not be held liable for any resulting loss, damage, or unauthorized transaction unless the loss is directly caused by the Bank’s gross negligence or willful misconduct.

11. The Depositor is strongly advised to keep the OTP feature enabled at all times in line with security best practices and regulatory guidelines issued by the Bangko Sentral ng Pilipinas (BSP) to protect digital banking users from cyber-related threats.

12. Own Bank may adopt or upgrade its authentication and verification systems as necessary. While these measures enhance security, the Bank does not guarantee absolute protection against unauthorized access, data breaches, or threats from unsecured networks, third-party services, or public Wi-Fi. The Depositor is responsible for using secure and private internet connections. For its part, the Bank shall employ reasonable industry-standard safeguards, adopt best practices in cybersecurity, and comply with applicable Bangko Sentral ng Pilipinas (BSP) regulations, including BSP Circular No. 808 (Requirements for Multi-Factor Authentication) and BSP Circular No. 982 (Enhanced Information Security and Cybersecurity Framework), as well as other issuances on electronic banking, in accordance with the Financial Products and Services Consumer Protection Act (RA 11765). The Bank further commits to conducting regular monitoring, vulnerability assessments, penetration testing, and independent audits to ensure the continued effectiveness of its security measures.

13. The Depositor must comply with all security protocols required during onboarding, login, and transactions. This includes using strong, non-obvious passwords, protecting their mobile device, and logging out after each session.

14. The Depositor agrees to hold Own Bank, including its directors, officers, employees, and representatives, free and harmless from any claims or liabilities arising solely from the Depositor’s negligence, fraud, or failure to exercise reasonable care in protecting login credentials, mobile devices, or access to the App. This indemnity shall not apply to any loss or damage resulting from the Bank’s system vulnerabilities, errors, third-party service provider failures under the Bank’s control, gross negligence, or willful misconduct.

15. The Bank shall not be liable for payments made on deposit items prior to receiving formal notice of loss or theft, unless such payments are proven to be clearly fraudulent or irregular. In the absence of such evidence, said payments shall be deemed valid and as if made directly to the Depositor.

D. SERVICES

1. Account Opening

a. The Depositor may open an account anytime and anywhere through the Own Bank Online mobile application. Registration is required to access the full range of services. The application process is designed to be fast, secure, and user-friendly, provided that all required documents and Know-Your-Customer (KYC) information are readily available.

b. By agreeing to the Terms and Conditions and the Data Privacy and Sharing Agreement, the Depositor authorizes the Bank to process the account application. The Bank will communicate the result of the application within five (5) to seven (7) banking days, between 7:00 AM and 12:00 AM, excluding holidays and Bangko Sentral ng Pilipinas (BSP)-declared suspensions of clearing operations.

c. In accordance with BSP Circular No. 1170 on the adoption of digital onboarding and electronic KYC, the Bank implements remote onboarding protocols to verify the identity and legal capacity of applicants via digital means, including biometric verification, facial recognition, liveness checks, and other methods prescribed under BSP regulations.

d. All electronic records, identity data, and biometrics collected during onboarding are processed in accordance with the Data Privacy Act of 2012 (RA 10173), and applicable BSP and National Privacy Commission (NPC) issuances on data retention, confidentiality, and security. The Depositor’s rights to access, correction, and protection of their personal data remain safeguarded under these laws.

e. In accordance with the Philippine Identification System Act (RA 11055) and prevailing Bangko Sentral ng Pilipinas (BSP) regulations, the Philippine Identification (PhilID or ePhilID) issued under the Philippine Identification System (PhilSys) shall be recognized as the primary valid ID for account opening and customer due diligence (CDD). The Bank may also accept other government-issued identification documents, including but not limited to the PhilHealth ID, Driver’s License, Passport, Unified Multi-Purpose ID (UMID), and other IDs as may be prescribed by BSP or other competent authorities from time to time. The Bank reserves the right to require additional supporting documents when necessary to verify the identity of the Depositor.

f. The opening of an account is subject to the Depositor’s full compliance with the requirements of the Bank, the Bangko Sentral ng Pilipinas (BSP), and other applicable regulators, in accordance with BSP-prescribed Know-Your-Customer (KYC) standards. These requirements include, but are not limited to:

1. Valid government-issued ID(s);

2. Proof of residence;

3. Taxpayer Identification Number (TIN);

4. Supporting documentation for the declared source of funds;

5. Any other documents or information the Bank may require under internal policy or applicable laws.

g. Foreign nationals may apply to open an account, provided that they fully comply with the Bank’s account opening requirements, as well as applicable immigration, tax, and anti-money laundering regulations. All applicants shall undergo Know-Your-Customer (KYC), Customer Due Diligence (CDD), and, where appropriate, Enhanced Due Diligence (EDD) procedures in line with the Bank’s risk-based approach.

h. Foreign nationals presenting valid proof of long-term stay or residency in the Philippines—including but not limited to visas for:

1. Employment,

2. Investment or business,

3. Education,

4. Retirement, or

5. Other residency-based categories recognized under Philippine immigration laws—are generally eligible to apply for account opening.

i. Applicants holding tourist visas, transit permits, or other short-term stay classifications may also apply but shall be subject to heightened scrutiny. Acceptance of an application does not guarantee approval, and the Bank reserves the right to disapprove such applications based on the results of its compliance review and risk assessment.

j. In accordance with Republic Act No. 11765 (Financial Products and Services Consumer Protection Act), the Bank reaffirms that no applicant shall be unfairly discriminated against based on race, ethnicity, nationality, gender, religion, political affiliation, or other protected characteristics. Account opening decisions are strictly grounded on objective, lawful, and risk-based criteria.

k. Notwithstanding the foregoing, the Bank reserves the right to decline account opening applications from any individual or entity, including foreign nationals, if such applicant:

1. Originates from, resides in, or maintains significant ties to a jurisdiction identified by the Financial Action Task Force (FATF), the Anti-Money Laundering Council (AMLC), or the Bangko Sentral ng Pilipinas (BSP) as high-risk or non-cooperative.

1. In such cases, the Bank shall apply a risk-based approach in accordance with AMLA, BSP, and AMLC issuances, which may include Enhanced Due Diligence (EDD) measures such as:

1. Obtaining additional identification documents;

2. Verifying source of funds and wealth;

3. Conducting senior management approval prior to account opening; or

4. Imposing stricter monitoring requirements.

2. Depending on the results of EDD and internal risk assessment, the Bank may decline the application or allow onboarding subject to appropriate risk mitigation controls.

2. Is engaged in or affiliated with industries or activities deemed by the Bank to present elevated compliance, legal, or reputational risks, such as—but not limited to—virtual asset service providers or offshore gaming operators, unless sufficient mitigating measures are established; or

3. Fails to meet the Bank’s documentary, regulatory, or internal risk acceptance standards.

l. The Bank shall verify the applicant’s identity, legal capacity, and the authenticity of all submitted information. Applications are subject to review in accordance with BSP, AMLC, and other regulatory requirements, as well as the Bank’s internal risk-based criteria.

m. The Bank may approve or decline any application at its sole discretion, provided that such decision is based on lawful, risk-based, and non-arbitrary grounds.

n. In cases of disapproval, the Bank shall inform the applicant of the general reason for such decision (e.g., incomplete requirements, regulatory restrictions, or outcome of risk assessment), without being obliged to disclose sensitive internal criteria or detailed findings.

o. For corporate or institutional accounts, the Bank shall require the submission of authenticated corporate documents to establish legal existence, authority, and beneficial ownership. These may include, but are not limited to:

1. Articles of Incorporation and By-Laws, or equivalent organizational papers;

2. Board Resolution or Secretary’s Certificate authorizing account opening and identifying the authorized signatories;

3. General Information Sheet (GIS) or equivalent record of directors, trustees, or officers;

4. Tax Identification Number (TIN) and other government registrations as applicable.

p. For cooperatives, non-stock corporations, foundations, and associations, additional requirements may include, but not limited to:

1. Certificate of Registration from the Securities and Exchange Commission (SEC), Cooperative Development Authority (CDA), or other relevant government registering body;

2. Certified copy of their By-Laws and Articles of Cooperation/Articles of Incorporation;

3. Resolution or Secretary’s Certificate designating authorized signatories;

4. List of trustees, directors, or officers.

q. The Bank may require additional documents, such as business permits, contracts, or proof of principal place of business, in accordance with its internal risk-based policies and applicable BSP and AMLA regulations.

r. An account may only be opened upon the Bank’s approval, following verification of identity and authority. The Depositor affirms legal capacity to open and maintain an account and confirms they are not under any legal restriction or incapacity. The Depositor is also required to maintain the minimum Average Daily Balance (ADB) prescribed by the Bank. Failure to meet the required ADB may result in applicable service fees.

s. An internal or service-linked account may be opened at the sole discretion of the Bank as a suspense, settlement, or ledger account in connection with services availed by the client from the Bank or its authorized third-party partners. Such accounts are intended solely for internal purposes or for activities directly related to the specific product or service availed. These accounts are not considered deposit liabilities and, therefore, are not insured by the Philippine Deposit Insurance Corporation (PDIC). The Bank shall clearly identify such accounts as internal or service-linked to avoid any misrepresentation or depositor confusion.

2. Balance Inquiry

a. The Depositor may view the balances of their enrolled Own Bank accounts through the account dashboard in the mobile app. Accounts that are designated as “hidden”—whether through app settings or upon the Depositor’s formal request—will not be displayed on the dashboard.

b. Notwithstanding such settings, the Depositor remains fully responsible and liable for all accounts, transactions, and obligations, whether or not such accounts are displayed in the app.

3. Deposits

a. Deposits may be made at the Depositor’s convenience via Own Bank’s Mobile Banking platform or through such other channels as the Bank may designate. The Depositor is solely responsible for the accuracy, completeness, and validity of all information entered to facilitate a deposit.

b. All deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum coverage of ₱1,000,000 per depositor, in accordance with Republic Act No. 3591, as amended.

c. Deposits made after the Bank’s daily cut-off time or on weekends/holidays shall be considered received on the next banking day. Funds will be credited subject to clearing, verification, and applicable BSP and PDIC rules. The Bank reserves the right to place holds on deposits that require additional verification or are subject to regulatory review.

4. Fund Transfers

a. The Depositor may initiate fund transfers between their Own Bank accounts, to third-party accounts within Own Bank, or to accounts in other local banks, subject to the following conditions:

1. Sufficient available funds are maintained in the source account;

2. All required beneficiary details and transaction information are accurate and complete; and

3. Transactions fall within the limits imposed either by the Bank or by the Depositor as user.

b. All fund transfers are subject to applicable transaction limits, service fees, and policies imposed by Own Bank or by external service providers. Transfers coursed through InstaPay and PESONet are governed by the rules of the Philippine Payments Management, Inc. (PPMI) and the Bangko Sentral ng Pilipinas (BSP) under the National Retail Payment System (NRPS) framework.

c. The Bank shall disclose applicable limits, fees, and charges to the Depositor prior to the execution of each transfer, consistent with the Financial Products and Services Consumer Protection Act (RA 11765).

d. If the Depositor discovers that funds were mistakenly sent to an incorrect account or for an incorrect amount, the Depositor must notify the Bank immediately. The Bank shall exert best efforts to coordinate with the receiving institution to facilitate recovery of the funds, in accordance with BSP and PPMI procedures. However, recovery is not guaranteed, particularly if the recipient has already withdrawn or otherwise used the funds. The Bank shall not be liable for any loss arising from erroneous transfers caused by inaccurate or incomplete instructions provided by the Depositor.

e. Once a transfer has been successfully processed and confirmed, it is deemed final and irrevocable, except in cases where the Bank is proven to have committed an error or negligence. The Bank is not liable for delays, reversals, or failed transfers arising from circumstances beyond its control (e.g., system downtime, network failures, clearing issues), or for errors resulting from inaccurate or incomplete information supplied by the Depositor.

5. Updating of Customer Information

a. The Depositor is responsible for ensuring that all personal and account information provided to the Bank is accurate, current, and complete. The Depositor must promptly notify the Bank in writing of any material updates, including but not limited to:

1. Name or gender;

2. Mailing or residential address;

3. Email address;

4. Contact numbers;

5. Civil status or citizenship;

6. Employment or source of income details.

b. Failure to update required information, or the submission of false, incomplete, or misleading documents, may be considered mishandling of the account. If:

1. Mail sent to the Depositor (e.g., “Thank You” letters, notices) is returned undelivered;

2. Required updated information cannot be obtained after reasonable request; or

3. Submitted details are found to be false, misleading, or inadequate during validation,

the Bank may, in accordance with BSP regulations and its internal risk management policies, restrict transactions, suspend access, or terminate the account relationship.

c. Where warranted, such incidents may be subject to reporting as a Suspicious Transaction in compliance with the Anti-Money Laundering Act (AMLA), as amended, and its Implementing Rules and Regulations (IRR).

d. The Bank may also require the Depositor to revalidate or update documentation for certain transactions, including but not limited to:

1. Inward or outward remittances;

2. Deposits;

3. Withdrawals or encashments;

4. Fund or wire transfers.

e. This requirement forms part of the Bank’s ongoing KYC and Customer Due Diligence obligations under BSP and AMLA regulations. If the Bank cannot validate the required information, it may decline to process the transaction or release funds, without prejudice to its duty to report suspicious activities to the proper authorities.

E. TERMS OF SERVICES FOR OPENING AN ACCOUNT

1. Time Deposit

a. Application and Requirements

1. The Depositor represents and warrants that they fully understand the features and conditions of Own Bank’s Time Deposit products.

2. Time Deposit accounts may be opened exclusively through the Own Bank Mobile Banking Application.

3. A minimum initial placement of ₱500.00 is required.

4. The Depositor shall shoulder all applicable stamp duties and related costs incurred during account opening and disbursement, as prescribed by applicable laws and regulations.

5. The Depositor may select from the available term or tenor options offered by the Bank for its time deposit products, subject to applicable minimum placement amounts, interest rates, and other terms as may be prescribed by the Bank at the time of placement.

6. The Bank shall disclose all applicable terms, conditions, and rates prior to placement, and such terms shall remain binding for the duration of the placement, unless otherwise required by law or regulation.

7. Any future changes to available term or tenor options shall not affect existing placements, and Depositors shall be notified in advance of any material changes in accordance with BSP and RA 11765 disclosure requirements.

8. Once placed, the chosen term shall be binding and may not be shortened or modified without the Bank’s prior approval, which may be subject to penalties, reduced interest, or forfeiture of earned interest, in accordance with Bank policy duly disclosed to the Depositor.

b. Maturity Disposition Options

1. Upon account opening or prior to maturity, the Depositor must select one of the following options:

1. Termination – The Time Deposit will automatically mature and the full amount (principal + interest) will be credited to the linked Savings Account.

2. Roll-over – Both principal and interest will be rolled over for the same term at the prevailing interest rate.

3. Interest-Out – Only the principal will be rolled over; interest will be credited to the linked Savings Account.

4. Default Option - In the absence of maturity instructions from the Depositor, the Bank shall automatically roll over the principal only for the same term at the prevailing interest rate, with interest credited to the linked Savings Account.

c. Pre-Termination

1. Pre-termination refers to the full redemption of the Time Deposit placement prior to maturity. Partial withdrawals are not allowed unless expressly permitted by the Bank in accordance with its policies.

2. The Bank may require at least one (1) banking day’s prior written notice for early redemption.

3. Pre-termination is subject to applicable penalties and documentary stamp tax, which may be deducted from the proceeds.

4. Penalties apply only to the gross interest earned, in accordance with the Bank’s published schedule of fees and rates:

1. If pre-terminated, the prevailing board rate at the time of pre-termination will apply.

2. If pre-terminated during the second half of the term, an additional penalty of twenty-five percent (25%) of the gross interest earned will be deducted.

5. For pre-termination requests, the Depositor may contact the Bank

6. The Bank reserves the right to pre-terminate a Time Deposit placement in the following cases:

1. Compliance with lawful orders of courts, regulatory authorities, or government agencies;

2. Suspicion or confirmation of fraud, money laundering, terrorist financing, or other unlawful activity involving the account;

3. Systemic or operational events where continuation of the placement poses legal, financial, or reputational risk to the Bank.

7. In such cases, the Bank shall notify the Depositor promptly and shall credit the principal and applicable net interest (after lawful deductions) to the linked Savings Account.

d. Interest Computation

1. The interest rate specified in the Confirmation Notice shall be expressed on a per annum basis, unless otherwise stated.

2. Unless expressly provided, interest shall be computed using a simple interest methodology.

3. For deposit products subject to periodic repricing, the applicable rate and computation method shall be clearly indicated in the Confirmation Advice and/or subsequent Statement of Account.

4. The Bank may revise applicable interest rates or computation methodologies in line with prevailing market conditions or pursuant to regulatory mandates, subject to the following safeguards:

1. Consistent with Republic Act No. 11765 (Financial Products and Services Consumer Protection Act) and BSP regulations, any changes to interest rates, fees, charges, or other material terms shall be communicated to the Depositor at least thirty (30) calendar days prior to effectivity.

2. Notification shall be made through available channels such as electronic mail (email), short messaging service (SMS), or written notice.

5. If the Depositor does not agree with the revised terms, they may opt to close the affected account or terminate the placement without incurring penalty, subject to settlement of accrued obligations up to the date of termination.

2. Savings Deposit

a. Application and Requirements

1. The Depositor represents and warrants that they fully understand the features, terms, and conditions of Own Bank’s Savings Deposit products.

2. Savings Deposit accounts may be opened exclusively through the Own Bank Mobile Banking Application.

3. A minimum initial deposit of ₱100.00 is required. This amount is aligned with financial inclusion policies.

4. Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum coverage of ₱1,000,000.00 per depositor, in accordance with the PDIC Charter (R.A. 3591, as amended).

5. The Depositor shall bear all applicable documentary stamp taxes, government levies, and other related charges incurred during account opening, maintenance, and disbursement, in accordance with applicable laws and regulations.

6. The Bank may prescribe a required maintaining balance or Average Daily Balance (ADB) for the account. If the Depositor fails to meet the prescribed balance, the Bank may impose service charges, fees, or penalties, as disclosed in the Schedule of Fees and Charges, or classify the account as dormant pursuant to BSP regulations.

7. Accounts with no depositor-initiated activity for two (2) years shall be classified as dormant and may be subject to dormancy charges, unless prohibited by law. Depositors shall be notified in advance of account dormancy and applicable charges.

8. Savings Deposit accounts may earn interest at the rate published by the Bank, expressed on a per annum basis, computed using the average daily balance method, and credited to the account on a monthly basis, unless otherwise specified. The Bank shall disclose the prevailing rate and any subsequent revisions in accordance with RA 11765 and BSP regulations, with no less than thirty (30) calendar days’ prior notice to Depositors before effectivity.

F. TIME DEPOSIT TERMS AND CONDITIONS

1. Nature and Assignment

a. Time Deposit Certificates (“TDCs”) are non-negotiable and may not be transferred by endorsement.

b. Assignment or transfer of a Time Deposit Certificate (TDC) shall be valid only with the Bank’s prior written consent. Any purported assignment without such consent shall not bind the Bank.

c. The Bank may allow assignment solely for lawful purposes such as:

1. Collateralization (e.g., pledge or lien in favor of the Bank or a third-party creditor);

2. Succession or estate settlement, upon submission of proof of death and compliance with legal requirements;

3. Court order or regulatory directive, duly enforceable in the Philippines; or

4. Other legal transfers, supported by appropriate documentation acceptable to the Bank.

d. The Depositor or assignee must submit standard documentation (e.g., Deed of Assignment, notarized affidavit, proof of authority, estate documents, or court order) for review and approval. The Bank reserves the right to require additional documents or reject the assignment if requirements are not met.

e. All assignments, once duly accepted, shall be recorded in the Bank’s records. The Bank shall issue a written acknowledgment confirming the recognition of the assignee’s rights over the TDC.

2. Placement and Documentation

a. Time Deposit placements funded by check are subject to final clearing; any dishonored check will automatically cancel the deposit.

b. The initial interest rate, principal amount, and maturity date shall be specified in the Time Deposit Certificate (TDC) or equivalent Confirmation of Placement issued by the Bank.

c. The TDC may be issued either in physical form (printed certificate) or in electronic form (digital confirmation accessible through the Own Bank Mobile Banking Application, secure email, or other electronic channels recognized by the Bank). Electronic issuance shall have the same legal effect as a physical TDC, consistent with the Electronic Commerce Act (RA 8792), BSP e-banking regulations, and applicable laws.

d. For placements funded by check, the TDC or digital confirmation shall be deemed effective only upon final clearing of the check. In case of dishonor, the placement shall be automatically cancelled without need of prior notice to the Depositor.

e. The Bank shall maintain records of all issued TDCs, whether physical or electronic, and such records shall be conclusive proof of the Depositor’s placement unless manifest error is shown.

f. Upon renewal, the Bank will issue a Time Deposit Renewal Advice reflecting updated terms.

3. Renewal Advice

a. The Renewal Advice is not a negotiable instrument and does not constitute conclusive proof of an active deposit.

b. In case of discrepancy between the Renewal Advice and the Bank’s records, the Bank’s records shall prevail.

c. The Bank shall issue a Renewal Advice upon maturity or roll-over of the Time Deposit, either in physical or electronic form.

d. The Depositor must examine the Renewal Advice and promptly notify the Bank in writing of any error, discrepancy, or irregularity within fifteen (15) banking days from deemed receipt.

1. For electronic transmission (e.g., email, mobile app), “receipt” shall mean the date the Renewal Advice becomes accessible to the Depositor.

2. For physical delivery (e.g., post or courier), “receipt” shall mean five (5) banking days from dispatch, unless the Depositor proves later actual receipt.

e. Failure to notify the Bank within the prescribed period shall render the Renewal Advice conclusive and binding on the Depositor, except in cases of manifest error, fraud, or willful misconduct by the Bank.

f. Renewal Advices are non-negotiable instruments and shall not be assigned, transferred, or endorsed to third parties.

4. Early Redemption

a. Early or partial redemption prior to maturity shall not be allowed. Any pre-termination shall apply to the entire Time Deposit placement and shall result in automatic closure of the account.

b. The Bank may require the Depositor to submit advance written notice of pre-termination, within the period specified in the Bank’s policies.

c. Pre-termination shall be subject to applicable penalties, charges, and documentary stamp tax, which may be deducted from the proceeds. The penalty methodology and computation basis shall be disclosed in the Bank’s published schedule of penalties and fees, consistent with BSP regulations and Republic Act No. 11765 (Financial Products and Services Consumer Protection Act).

d. At the time of placement, the Depositor shall be informed of the prevailing penalty schedule. Any changes thereto shall be communicated in advance, in accordance with law and regulatory requirements.

5. Non-Renewal

a. If the Time Deposit is neither redeemed nor renewed upon maturity, the principal shall remain on deposit and earn interest at the Bank’s holdover rate, defined as the prevailing interest rate for Savings Deposits as published in the Bank’s current schedule of rates. The holdover rate is subject to change at the Bank’s discretion in accordance with prevailing market conditions and regulatory requirements.

b. Interest earned during the holdover period shall be subject to withholding tax or other taxes as required by applicable law.

c. The Depositor may redeem the principal and accrued interest at any time after maturity, in accordance with the Bank’s policies.

6. Closure of Time Deposit

a. Upon maturity or early redemption, the original Time Deposit Certificate (TDC) must be surrendered to the Bank before funds can be released.

b. In case of loss, theft, or destruction of the TDC, the Depositor must immediately notify the Bank in writing and execute a notarized Affidavit of Loss.

c. The Bank may impose administrative requirements and fees prior to releasing funds in such cases. All applicable fees will be as published in the Bank’s Schedule of Fees and Charges, which is available at branches and on the Bank’s official website.

7. Computation of Interest

a. The interest rate stated on the Time Deposit Certificate (TDC) or Confirmation Notice is expressed on a per annum basis.

b. Interest shall be computed on a simple interest basis, unless otherwise specified. The day count convention used for interest computation shall be 360 days per year, unless otherwise indicated.

c. For flexible deposit products, interest rates may be subject to periodic repricing, the details of which will be disclosed in the corresponding Statement of Account.

d. Any material change to interest rates, fees, or other terms shall be communicated to the Depositor at least thirty (30) calendar days in advance through available channels such as email, SMS, the mobile app, or written notice.

e. If the Depositor does not agree with any revised terms, they may choose to close the affected account without incurring any penalty.

G. SERVICE CHARGES AND TAXES

1. The Depositor is responsible for paying any and all taxes arising from the use of the facility and Online Banking Services. The Depositor authorizes Own Bank to automatically debit their deposit account for such taxes, to the extent required by law and applicable regulations.

2. Own Bank reserves the right to modify fees, charges, or other terms in these Terms and Conditions. Updates will be published in the mobile app and/or on the Bank’s website, and notices will be sent to the Depositor’s registered address or email. Any increase in fees or imposition of new charges shall be communicated to the Depositor at least thirty (30) calendar days before the effective date, unless required sooner by regulatory mandate.

3. The Depositor agrees to regularly check for updates and acknowledges that continued use of the Own Bank Online services after changes take effect constitutes acceptance of those changes.

4. The Depositor may reject changes to fees or terms by discontinuing the affected accounts or services. Own Bank may, in accordance with its published policies, waive or adjust fees and reserves the right to impose service fees, administrative charges, and penalties related to account maintenance and use, including but not limited to:

a. Fees for falling below the required maintaining balance;

b. Dormancy fees for inactive or dormant accounts;

c. Over-the-counter withdrawal charges exceeding thresholds;

d. Fees for passbook replacement, statement reprinting, checkbook issuance, or other account services.

All fees and charges are subject to prior disclosure through the Bank’s official channels, including the mobile app, website, or written communication, in compliance with RA 11765 and BSP transparency requirements.

5. Own Bank may introduce new fees or adjust existing ones as allowed by law. Such fees may be automatically debited from the Depositor’s account, with prior notice to the Depositor in compliance with BSP regulations and the Financial Products and Services Consumer Protection Act (RA 11765). The Bank shall not be liable for losses arising from insufficient funds due to such debits, including dishonored checks or failed transactions.

6. All applicable service charges, penalties, and fees incurred by the Depositor’s account, including transactions via the Application or Card, may be debited by Own Bank. Any introduction of new fees or changes to existing ones shall be communicated to the Depositor with at least thirty (30) calendar days’ prior notice, in accordance with BSP regulations and the Financial Products and Services Consumer Protection Act (RA 11765).

7. Service charges, fees, and penalties may include, but are not limited to, the following:

a. Recurring Fees (charged periodically, if applicable):

1. Maintaining balance or below-ADB charges

2. Dormancy fees (per BSP regulations)

3. Monthly or annual service fees for specific account types

b. One-Time or Transaction-Based Fees:

1. Fund transfer fees (e.g., InstaPay, PESONet)

2. Card issuance, replacement, or reactivation fees

3. Stop-payment order fees

4. Documentary fees, stamp taxes, or regulatory charges

5. Penalties for failed, returned, or rejected transactions

8. Any new fees or changes to existing ones shall be communicated to the Depositor with at least thirty (30) calendar days’ prior notice, in accordance with BSP regulations and the Financial Products and Services Consumer Protection Act (RA 11765).

9. Own Bank does not currently impose any minimum maintaining balance requirements or annual fees. However, the Bank reserves the right to introduce such charges in the future, subject to prior notice to Depositors and in accordance with applicable BSP regulations and the Financial Products and Services Consumer Protection Act (RA 11765).

10. Accounts reduced to a zero balance due to fees, charges, or other causes may be closed by the Bank pursuant to the “Closure of Accounts” provisions of these Terms and Conditions.

11. Information on applicable service charges is made available through the Own Bank website and mobile application. Upon request, Depositors may also obtain a copy of the current Schedule of Fees and Charges from any Own Bank branch or customer service channel. Own Bank may suspend or terminate services in the event of insufficient funds to cover applicable fees, charges, or penalties, without incurring liability, in accordance with these Terms and Conditions.

12. The Depositor is responsible for any third-party fees related to the use of Own Bank Mobile E-Wallet, including charges by mobile or Internet service providers.

13. Fees apply for the following:

a. Active accounts falling below required monthly Average Daily Balance (ADB) for two (2) consecutive months;

b. Dormant accounts (no activity for two (2) years) below the minimum ADB;

c. Accounts closed within one (1) month of opening;

d. Requests for account balance certification;

e. Lost passbook replacement;

f. Stop payment requests for checks;

g. Other services as may be introduced by Own Bank in accordance with law and regulation.

14. Fees and penalties will be charged in accordance with Own Bank’s published Schedule of Fees and Charges. Fees for items (a), (b), and (c) will be automatically debited from the affected account. If insufficient funds exist, the Bank may debit the applicable fees from other accounts maintained by the Depositor with Own Bank, provided such accounts are under the same depositor name and are not subject to legal, regulatory, or contractual restrictions.

15. Fees for items (d), (e), (f), and (g) may be paid directly by the Depositor or debited from their accounts, subject to the same debit authority.

H. CLOSURE OF ACCOUNT

1. Customer-Initiated Closure

a. The Customer may request to close their Mobile Banking Account through Own Bank Customer Service or at any Own Bank branch.

b. Closure will be processed within ten (10) banking days from receipt of a valid request, unless prevented by legal, regulatory, or operational restrictions.

c. Closure is allowed only if the Customer has no outstanding loan balances, unsettled obligations, or legal holds.

d. Once closed, access to all linked digital services will be disabled.

e. If the Customer wishes to use the Own Bank Mobile Banking App again, re-registration will be required.

f. Own Bank may refuse closure if:

1. There are active or scheduled transactions (e.g., auto-debits);

2. Linked accounts (e.g., Time Deposit, Own It, Own Wish, etc.) have balances or active instructions.

2. Bank-Initiated Closure

a. Own Bank may suspend or close a Mobile Banking Account with prior notice, where legally and operationally feasible, under the following circumstances:

1. Zero Balance and Inactivity

1. The account reflects zero balance across all deposit products over a prolonged period, in accordance with Own Bank’s published dormancy policy;

2. The account remains unfunded for sixty (60) days from date of opening;

3. The account shows no login for sixty (60) consecutive days and has a zero total account balance;

4. A loan application linked to the account is rejected and the account remains unfunded for thirty (30) days thereafter.

2. Failure to Complete KYC Requirements

1. The Customer fails to submit required KYC documents within the period prescribed by BSP regulations (currently shorter than twelve [12] months under Circular No. 950 and related issuances);

2. The account reaches allowable transaction or balance limits, and the Customer fails to upload or provide a valid ID or supporting documents despite notification.

3. Suspicious or Unlawful Activity

1. There is reasonable suspicion of fraud, money laundering, terrorist financing, or other illegal activity;

2. The account or security credentials have been compromised;

3. False, misleading, or materially incomplete information is submitted to the Bank;

4. Threatening, abusive, or violent behavior is directed at Own Bank staff;

5. Continuation of the relationship is assessed to expose Own Bank to material financial, legal, reputational, or regulatory risk.

4. Improper Handling or Misrepresentation

1. The account is found to be improperly handled, misrepresented, or used for purposes inconsistent with declared intent;

2. Such closure may, where applicable, be reported to the Bangko Sentral ng Pilipinas (BSP), the Bankers Association of the Philippines (BAP), or other monitoring bodies;

3. The Customer agrees to hold Own Bank free and harmless from liabilities arising from such closure or reporting, provided actions are consistent with the BSP Consumer Protection Framework, the Anti-Money Laundering Act, and related regulations.

b. Dormant accounts with balances will not be arbitrarily closed and shall remain subject to the provisions of the Philippine Deposit Insurance Corporation (PDIC) Charter (RA 3591, as amended), which ensures deposit insurance coverage up to ₱1,000,000 per depositor (or the prevailing insured amount) until valid closure or withdrawal in accordance with law.

c. Except where immediate closure is required due to legal obligations, regulatory directives, or suspicion of fraudulent activity, the Bank shall endeavor to provide the Depositor with prior written notice and a reasonable opportunity to rectify the breach or deficiency. In urgent cases, the Bank shall notify the Depositor of the closure as soon as reasonably permissible under the circumstances and applicable laws.

d. When complying with lawful freeze, garnishment, or similar orders, the Bank commits, where not prohibited by law, to notify the Depositor of such action. The Bank shall promptly release the funds once the order is lifted, upon receipt of valid supporting documentation.

3. Dispute Resolution for Account Closure

a. The Depositor may dispute any account closure by submitting a written request or inquiry through the Bank’s official Consumer Assistance channels, including the Customer Service hotline, official email, or in-branch submission.

b. The dispute must clearly state the grounds for contesting the closure and provide any supporting documentation.

c. Upon receipt, the Bank shall:

1. Acknowledge receipt within two (2) banking days;

2. Provide an interim response within fifteen (15) banking days, detailing the status of the investigation;

3. Issue a final resolution within thirty (30) banking days, or such longer period as may be reasonably necessary depending on the complexity of the case, with written notice to the Depositor explaining the cause of delay and the expected timeline for completion.

d. The Bank shall conduct all reviews in a timely, impartial, and transparent manner, consistent with its internal complaint-handling policies, the BSP Consumer Protection Framework, and the depositor’s Right to Redress under Section 6 of Republic Act No. 11765 (Financial Products and Services Consumer Protection Act).

e. If the dispute remains unresolved, the Depositor may elevate the concern to the Bangko Sentral ng Pilipinas (BSP) Consumer Assistance Mechanism, or other appropriate regulatory channels in accordance with law.

4. Handling of Remaining Funds

a. Upon account closure, any remaining balance shall be refunded to the Customer or, if refund is not immediately possible, transferred to a designated suspense or liability account in the name of the Customer.

b. Unclaimed balances shall be subject to the Unclaimed Balances Act (Republic Act No. 3936, as amended), the PDIC Charter (Republic Act No. 3591, as amended), and applicable BSP regulations, including eventual escheatment to the Philippine Treasury when legally required.

c. In the case of account closure due to inactivity, a one-time inactivity fee may be charged, not exceeding the amount permitted under BSP regulations, provided that such fee shall not unreasonably diminish the value of the remaining balance, in line with the principles of fairness and protection under Republic Act No. 11765 (Financial Products and Services Consumer Protection Act).

5. Release and Waiver of Liability

a. The Customer agrees to hold Own Bank, including its directors, officers, employees, and authorized representatives, free and harmless from any liability, claim, or demand in connection with the account closure, including any reporting to regulators or credit bureaus as permitted by law, except for cases directly arising from the Bank’s gross negligence, willful misconduct, or violation of applicable laws and regulations.

I. INACTIVE AND DORMANT ACCOUNTS

1. Definition of Dormant Accounts

a. An account shall be classified as dormant if there are no depositor-initiated financial transactions for the following continuous period of Two (2) years.

2. Effect of Dormancy

a. While an account is dormant:

1. No debit or credit transactions shall be permitted.

2. Interest shall not accrue or be paid.

3. A dormancy fee may be imposed only after five (5) years of inactivity and only if the account balance falls below the required minimum maintaining balance, in accordance with BSP regulations.

4. Dormant accounts with balances shall remain insured by the Philippine Deposit Insurance Corporation (PDIC) up to the maximum insured amount provided under RA 3591, as amended, until withdrawn, validly closed, or escheated to the Bureau of the Treasury pursuant to the Unclaimed Balances Act.

3. Notice Prior to Imposition of Dormancy Fees or Account Closure

a. The Bank shall notify the Depositor at least sixty (60) calendar days prior to:

1. The imposition of dormancy-related fees; or

2. The closure of the account due to dormancy.

b. Such notice shall be provided in clear, timely, and plain language using the Depositor’s last registered contact details, whether through physical mail, email, SMS, in-app notification, or other electronic channels, unless otherwise exempted by law.

4. Account Closure or Transfer

a. The Bank, at its sole discretion and subject to applicable regulations, may:

1. Transfer the remaining balance of a dormant account to a general ledger account, or

2. Close the dormant account without further notice, if prior notice has been given in accordance with Section 9.3.

b. Any balance so transferred shall remain the property of the Depositor and may be claimed at any time prior to lawful escheatment to the Bureau of the Treasury under the Unclaimed Balances Act (RA 3936, as amended), subject to proper verification and documentation requirements.

5. Reactivation of Dormant Accounts

a. A dormant account may be reactivated upon the Depositor's request, subject to:

1. Presentation of a valid and current government-issued identification document;

2. Updating of customer records, including re-submission of identification if previously expired or outdated, in compliance with BSP KYC/CDD/EDD requirements;

3. Submission of any additional documents required by the Bank to verify the Depositor’s identity and authority; and

4. Payment of applicable reactivation or service fees, if any.

b. The Bank may refuse reactivation if:

1. The account has already been closed;

2. The balance has been lawfully remitted to the Bureau of the Treasury under the Unclaimed Balances Act (RA 3936, as amended); or

3. The Depositor fails to provide satisfactory documentation or information required under law or regulation.

c. In all cases, the Bank shall provide reasonable assistance and clear guidance to the Depositor to facilitate reactivation, consistent with the BSP Financial Consumer Protection Framework (RA 11765).

6. Unclaimed Balances

a. In accordance with the Unclaimed Balances Act (RA 3936, as amended), any deposit account, including accrued interest, that has remained inactive and unclaimed by the depositor for a continuous period of at least ten (10) years shall be reported by the Bank to the Bangko Sentral ng Pilipinas (BSP) and, if required, remitted to the Bureau of the Treasury for the credit of the Republic of the Philippines.

b. The Depositor or their lawful heirs retain the right to claim such funds directly from the Bureau of the Treasury at any time thereafter, subject to applicable legal requirements and due process.

c. For transparency, the Bank shall notify the Depositor, using their last registered contact details, prior to reporting and remittance, unless prohibited by law or regulation.

J. SECURITY, RIGHT OF SET-OFF, AND BANKER’S LIEN

1. Bank’s Right of Set-Off

a. Without need for prior demand, court order, or the Depositor’s further consent, the Bank may, to the extent permitted by law, set-off, transfer, or apply any balance in the Depositor’s account(s), whether currently existing or subsequently opened, against any and all matured and due obligations owed to the Bank. Such obligations may include, but are not limited to:

1. Loans, credit accommodations, or credit lines;

2. Overdrafts or negative balances;

3. Returned or dishonored checks;

4. Unpaid fees, charges, or penalties;

5. Any obligation for which the Depositor is liable as principal, guarantor, or surety.

b. For joint accounts, set-off shall apply only if the liability is joint and several, or if all co-depositors have provided prior written consent.

c. The Bank shall provide written notice of any set-off action within five (5) banking days from the date of application, through the Depositor’s last registered contact details.

2. Scope and Application

The Bank’s right of set-off shall apply to:

a. All deposit accounts maintained by the Depositor, whether held individually or jointly, subject to the conditions on joint-and-several liability or co-depositor consent;

b. Accounts in any currency, subject to currency conversion at the Bank’s prevailing buying or selling rates at the time of set-off;

c. Any obligations of the Depositor that are liquidated, matured, and demandable, whether as principal, guarantor, or surety.

d. For avoidance of doubt, the exercise of set-off shall be without prejudice to the coverage of deposits under the PDIC Charter (RA 3591, as amended). Deposits remain entitled to insurance protection up to the maximum insured amount, subject to applicable PDIC regulations.

3. Conditions and Limitations

a. The Bank shall only exercise the right of set-off against matured and demandable obligations of the Depositor.

b. The Bank shall notify the Depositor of the set-off transaction and provide the basis for such action promptly after the set-off is made, unless disclosure is prohibited by applicable law or regulation.

c. The Bank shall observe exemptions under applicable laws and regulations, including but not limited to amounts deposited in:

1. Accounts clearly identified as payroll accounts;

2. Trust funds or accounts held in fiduciary capacity; and

3. Other accounts exempted by statute or regulatory authority.

d. The exercise of the Bank’s right of set-off shall not prejudice the Depositor’s statutory rights, including the right to dispute the transaction or seek recourse with the Bank or appropriate regulatory bodies.

4. Consolidation and Application

a. The Bank may, for purposes of set-off or operational convenience, and subject to applicable laws and regulations, combine or consolidate any of the Depositor’s accounts, and apply balances from one account to cover liabilities in another, whether or not such accounts are in the same name, currency, or branch.

b. This authority shall not diminish the Depositor’s rights under the PDIC Charter (RA 3591, as amended) nor relieve the Bank of its obligations under the BSP Consumer Protection Framework.

5. Banker's Lien

a. Deposits and other assets lawfully held by the Bank in the ordinary course of business may be subject to a banker’s lien as continuing security for the full discharge of the Customer’s due and demandable obligations to the Bank.

b. The exercise of this lien shall be subject to applicable laws and regulations, including exemptions under the Civil Code, the General Banking Law, and the PDIC Charter, and shall not prejudice the separate rules on set-off or compensation of accounts.

6. Insufficiency of Funds

a. If the balance in the relevant account is insufficient to satisfy the Customer’s obligations:

1. The Bank may deduct from, set off, or apply balances from any deposit account or other assets lawfully held with the Bank to satisfy the Depositor’s matured and demandable obligations to the Bank;

2. Any extension of this right to accounts or assets held with the Bank’s affiliates or subsidiaries shall be effective only if expressly authorized in writing by the Depositor and subject to applicable laws and regulations; and

3. This is without prejudice to the Bank’s right to pursue full recovery under applicable law.

7. Legal Process and Government Orders

a. The Bank shall comply with lawful directives issued by courts, government agencies, or other competent authorities, including but not limited to orders of garnishment, freeze, sequestration, receivership, or escheat, as may be prescribed under applicable laws such as the Anti-Financial Account Scamming Act (AFASA), the Anti-Money Laundering Act (AMLA), and other relevant regulations.

b. In such instances:

1. The affected account(s) and/or funds may be held, restricted, or otherwise made unavailable;

2. The Bank’s role is strictly ministerial, and it shall implement such lawful orders in accordance with their terms and the Bank’s legal obligations;

3. Subject to confidentiality restrictions under AMLA and other applicable laws, the Bank shall inform the Depositor of the freeze, garnishment, or restriction, and shall promptly release the funds once the order is validly lifted, upon receipt of proper documentation;

4. Any request for release or lifting of such restrictions must be supported by valid and official documentation (e.g., release order, quitclaim, or other lawful directive).

c. Except in cases of the Bank’s gross negligence, willful misconduct, or violation of applicable law, the Bank shall not be liable for any loss, damage, or inconvenience suffered by the Depositor as a result of compliance with such lawful directives.

K. RISK

1. Depositor Responsibility and Liability

a. The Depositor acknowledges that Own Bank shall not be liable for any negligence on the part of the Depositor in transmitting data or instructions via the Mobile Banking Application.

b. Authenticated instructions submitted through the Mobile Banking Application, once validated by the system using the registered credentials (e.g., MPIN, biometrics, or other security factors), shall be deemed valid, conclusive, and binding on the Depositor.

c. Own Bank may, at its sole discretion, decline to execute any instruction under the following circumstances:

1. Insufficient available balance;

2. Blocked account or incorrect account number;

3. Incorrect or missing MPIN, password, or authentication factor;

4. Reasonable suspicion of fraud, unauthorized access, or potentially illegal activity.

d. Consistent with BSP regulations (including Circular No. 808 on IT Risk Management and Circular No. 982 on Financial Consumer Protection), Own Bank shall remain responsible for ensuring operational resilience, safeguarding its systems, and monitoring for fraudulent activity.

e. For the avoidance of doubt, authenticated instructions shall not be binding where it is proven that such transactions resulted from fraud, system error, or gross negligence on the part of the Bank.

2. Awareness of Risks

a. The Depositor acknowledges that the use of the Mobile Banking Application involves inherent risks, including but not limited to:

1. Unauthorized access or misuse by third parties;

2. Compromise of passwords, MPINs, or other credentials if shared, lost, or stolen.

b. Own Bank shall implement reasonable and industry-standard cybersecurity measures consistent with BSP regulations (e.g., Circular No. 808 on IT Risk Management and Circular No. 982 on Consumer Protection), including but not limited to:

1. Two-factor or multi-factor authentication mechanisms;

2. Fraud alerts, security advisories, and system updates;

3. Continuous monitoring of suspicious or potentially fraudulent activity.

c. Own Bank may temporarily suspend or restrict Mobile Banking services to conduct maintenance, system upgrades, or security enhancements.

d. The Bank supports only the latest version of the Mobile Banking Application. The Bank shall not be liable for failed or incomplete transactions caused by the Depositor’s use of outdated or unsupported versions.

e. Interest rate and foreign exchange fluctuations inherent to the market are borne by the Depositor, except where misquotations, errors, or system malfunctions are attributable to the Bank.

3. Deposit Insurance and Regulatory Limits

a. All deposits with Own Bank are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum coverage of ₱1,000,000 per depositor per bank, inclusive of principal and accrued interest, in accordance with the PDIC Charter (Republic Act No. 3591, as amended). Any deposit balance in excess of the insured amount shall not be covered by PDIC and shall be for the sole risk of the Depositor.

b. Deposits or interest rates that exceed ceilings or conditions prescribed by the Bangko Sentral ng Pilipinas (BSP) may not be recognized for regulatory or insurance purposes. Accordingly, such excess amounts may not be covered by the Philippine Deposit Insurance Corporation (PDIC). For reference, PDIC insures eligible deposits up to ₱1,000,000 per depositor per bank, in accordance with law and prevailing regulations.

4. Depositor Obligations for Security and Safeguards

a. The Depositor must observe all security measures required by the Bank and shall maintain the confidentiality of account credentials (e.g., ID, password, MPIN, biometrics). The Depositor agrees not to use easily guessed credentials (such as birth dates, sequential numbers, or personal details). Devices with the Mobile Banking Application installed must not be left unattended, and the Depositor must log out properly after use.

b. In the event of lost or compromised credentials, suspected phishing, unauthorized access, or any suspicious account activity, the Depositor shall promptly notify the Bank within twenty-four (24) hours or at the earliest opportunity.

c. The Bank shall process personal and account information in accordance with the Data Privacy Act of 2012 (RA 10173) and its implementing rules, under the oversight of the National Privacy Commission (NPC), ensuring confidentiality, integrity, and lawful use of customer data.

5. Depositor Accountability and Indemnity

a. The Depositor agrees to hold Own Bank, its directors, officers, employees, and authorized representatives free and harmless from any third-party claims or losses directly arising from the Depositor’s failure to follow required security protocols or comply with these Terms and Conditions, except where such claims or losses are caused by the Bank’s gross negligence, willful misconduct, or breach of applicable law or regulation.

b. The Depositor remains responsible for:

1. Ensuring that only the authorized user accesses the Mobile Banking Application;

2. Registering and maintaining a correct and active mobile number and contact details;

3. Providing valid, complete, and accurate transaction instructions;

4. Maintaining sufficient available funds prior to effecting transactions;

5. Complying with all applicable laws, rules, and regulations governing the use of the account;

6. Securing transaction records and device access;

7. Promptly reporting any suspicious activity, loss of credentials, or security breaches within the prescribed period.

6. Bank's Rights in Case of Risk or Irregularities

a. Own Bank may:

1. Act in good faith on any instruction it reasonably believes to be valid and duly authenticated;

2. Require further verification or reject instructions under the following conditions:

1. Suspicious, fraudulent, or incomplete requests;

2. Exceeded transaction or account limits;

3. System limitations or force majeure events;

4. Mishandled, dormant, or overdrawn accounts;

5. Failure to provide required documentation.

3. In line with the Bangko Sentral ng Pilipinas’ financial consumer protection principles, the Bank shall also act in good faith and on a commercially reasonable basis in rejecting, delaying, or requiring further verification of any transaction where there are grounds such as insufficient funds, system error, suspected fraud, or regulatory requirements.

7. In Case of Death or Legal Incapacity

a. The Bank may freeze, suspend, or restrict access to the Depositor’s account(s) upon knowledge of the Depositor’s death, legal incapacity, or declaration of bankruptcy, pending receipt and validation of the complete legal documents required under applicable law.

b. All obligations and liabilities of the Depositor to the Bank under these Terms shall remain valid and enforceable beyond termination of access.

c. Release of funds to heirs, successors, or legal representatives shall be subject to the Rules on Intestate Succession, Estate Settlement, and other applicable laws and regulations, including but not limited to submission of extrajudicial settlement documents, court orders, tax clearances, or similar legal instruments.

8. Limitations of Bank Liability

a. Own Bank does not guarantee that:

1. Instructions will be executed within a specific timeframe or sequence;

2. Delays will not occur between submission and execution of instructions;

3. Transactions will be completely free from unauthorized access or compromise.

b. Provided, however, that the Bank shall remain liable for losses or damages directly arising from its gross negligence, fraud, or willful misconduct.

c. Lost or stolen deposit items reported belatedly shall not be honored except where forgery, fraud, or irregularities are clearly evident and attributable to the Bank.

9. Depositor Duty to Report

a. The Depositor must promptly report to both (i) law enforcement agencies and (ii) Own Bank’s official Consumer Assistance or Fraud Monitoring channels any of the following incidents:

1. Unauthorized access to, or attempted compromise of, the Mobile Banking Application;

2. Suspicious account activity or transactions not initiated or authorized by the Depositor;

3. Phishing attempts, social engineering, or any unauthorized request for account credentials, passwords, MPINs, or personal data.

b. Upon receipt, the Bank shall:

1. Conduct a timely and impartial investigation in accordance with its internal fraud monitoring protocols;

2. Where warranted, escalate such incidents to the Anti-Money Laundering Council (AMLC) and/or other competent authorities, pursuant to the Anti-Money Laundering Act (AMLA) and related regulations;

3. Issue security advisories or account safeguards to mitigate risks of further loss.

10. Network Dependency

a. The functionality of the Mobile Banking Application depends on the availability and reliability of mobile data or Wi-Fi connectivity. The Depositor is responsible for ensuring adequate signal strength and stable connectivity to complete transactions reliably.

b. The Bank shall not be responsible for service interruptions, delays, or failures attributable to third-party telecommunications or network providers. However, upon request, the Bank will provide reasonable assistance to the Depositor in verifying the status of pending or incomplete transactions that may have been affected by such connectivity issues.

11. Force Majeure

a. Non-Liability for Service Disruption

1. Own Bank shall not be liable to the Depositor for any failure or inability to access or use the Mobile Banking Facility due to circumstances beyond its reasonable control, including but not limited to:

1. Line problems or interruptions in mobile or internet connectivity;

2. Computer hardware or software malfunctions, including viruses, trojan horses, bugs, or system errors;

3. Failures attributable to external service providers (e.g., telecommunications, clearing systems, IT infrastructure);

4. System downtime, computer or network outages, telephone/mobile network failures, or similar incidents;

5. Any other cause not reasonably within Own Bank’s control that may affect the accuracy, completeness, or timeliness of transaction processing or instruction execution.

2. The Bank shall endeavor to resolve any service disruptions or outages within a commercially reasonable period, and in accordance with indicative service level agreements (SLAs) determined by the Bank, depending on the nature and severity of the disruption. However, the Bank makes no warranty, express or implied, regarding uninterrupted or error-free availability of its digital banking platforms.

3. The Depositor agrees to hold Own Bank, its officers, employees, and authorized representatives free and harmless from any delay, loss, liability, demand, or claim arising from the aforementioned disruptions, regardless of when such issues occur.

b. Natural or Extraordinary Events

1. The Depositor further agrees to hold Own Bank free and harmless from any claims or liabilities resulting from acts of force majeure, including but not limited to:

1. Natural disasters (e.g., typhoons, earthquakes, floods, fires);

2. Wars, rebellions, riots, acts of terrorism, sabotage, or civil/military unrest;

3. Government-imposed restrictions, embargoes, or actions;

4. Systemic failures, power outages, or failures in public utilities;

5. Telecommunications, IT infrastructure, or clearing house disruptions;

6. Pandemics, epidemics, and public health emergencies;

7. Strikes, labor disputes, lockouts, or other labor disturbances;

8. Any similar or related occurrences as determined by the Government of the Republic of the Philippines or the Bangko Sentral ng Pilipinas (BSP).

2. These Force Majeure Events relieve Own Bank from liability or responsibility for any delay, non-performance, or failure to fulfill its obligations under the Mobile Banking Services.

c. Resumption of Service

1. When the Force Majeure Event ceases, Own Bank shall resume the affected services or process pending instructions within a reasonable time.

2. Such resumption shall be subject to applicable rules and directives issued by the Bangko Sentral ng Pilipinas (BSP).

d. Waiver and Acknowledgment

1. The Depositor waives all rights of action against Own Bank related to any damage, loss, or inconvenience caused by a Force Majeure Event or its consequences.

2. In the event of extraordinary inflation or deflation of the Philippine peso, the obligations of the Depositor and the Bank under these Terms and Conditions shall remain valid, enforceable, and settled strictly in Philippine currency, consistent with applicable laws and regulations. The provisions of Article 1250 of the Civil Code shall not be invoked to alter or modify the agreed obligations unless otherwise required by law or judicial authority.

3. The Depositor’s obligations and liabilities to Own Bank shall remain fixed and enforceable despite monetary fluctuations.

L. REPRESENTATIONS AND WARRANTIES

a. Data Validity and Accuracy

i. The Depositor represents and warrants that all data, documents, and information submitted to Own Bank are true, complete, and accurate.

ii. The Depositor authorizes Own Bank to verify or validate such information through any lawful means, including contacting third parties.

iii. The Depositor shall immediately notify Own Bank in writing of any changes to personal or account-related information.

iv. Failure to update records may result in transaction failures or service disruptions, provided that the Bank shall remain responsible for ensuring system integrity and accuracy of its own records.

b. Lawful and Proper Use

i. The Depositor agrees not to misuse, abuse, or employ any of Own Bank’s products, facilities, services, or accounts for purposes other than their legitimate and intended use, including compliance with applicable laws and regulations.

c. Authorization to Debit

i. The Depositor knowingly, voluntarily, and without coercion grants Own Bank the authority to debit funds from the Depositor’s account in accordance with properly authenticated and executed transactions, fees, charges, or other applicable obligations.

d. Use of Customer Information

i. The Depositor authorizes Own Bank to use and disclose personal data to its affiliates, service providers, or partners strictly for legitimate banking purposes, including, but not limited to:

1. Service delivery and account administration

2. Customer service improvements and analytics

3. Regulatory or compliance obligations

ii. Any use of personal data for direct marketing, profiling, or cross-selling shall be subject to the Depositor’s separate, informed, and written opt-in consent, in accordance with the Data Privacy Act of 2012 (RA 10173) and the Bank’s Privacy Policy.

e. Legal Effect of Electronic Records

i. Any transaction record, data, communication, or instruction between the Depositor and Own Bank conducted via the Mobile Banking Application shall be considered valid, binding, and admissible as evidence, even if not signed or in written form.

ii. Own Bank may rely on such electronic records as conclusive evidence of transactions unless the Depositor can prove error or fraud, provided that the Bank shall maintain system integrity, implement fraud monitoring, and comply with BSP IT risk management standards.

f. Service Availability and Disclaimer

i. The Own Bank Mobile Banking Application is made available 24 hours a day; however, Own Bank does not guarantee continuous, uninterrupted, or error-free access due to:

1. Scheduled or unscheduled maintenance

2. Power outages

3. Network failures

4. Other events beyond the Bank’s control

ii. Own Bank shall not be liable for any loss or damage resulting from such interruptions, except where caused by the Bank’s gross negligence, fraud, or willful misconduct.

g. No Warranties

i. The Mobile Banking Application and related services are provided on an “as is” and “as available” basis.

ii. Own Bank disclaims all warranties, express or implied, including:

1. Merchantability

2. Fitness for a particular purpose

3. Non-infringement

4. Accuracy, completeness, or reliability of information

5. Uninterrupted or error-free operation

iii. Nothing in this section shall exclude liability for damages directly caused by the Bank’s gross negligence, fraud, or willful misconduct.

h. Processing Timeliness

i. Own Bank shall exert reasonable efforts to process electronic transactions in a timely manner.

ii. However, it does not guarantee specific processing times due to dependency on third-party systems and infrastructure.

iii. The Bank remains responsible for ensuring the overall reliability and integrity of its systems, consistent with BSP Circulars 808 (IT Risk Management) and 982 (Consumer Protection Framework).

M. CONSUMER ASSISTANCE AND DISPUTE RESOLUTION

a. Commitment to Financial Consumer Protection

i. Pursuant to Republic Act No. 11765, or the Financial Products and Services Consumer Protection Act, and its implementing regulations under BSP Circular No. 1160 (2023), the Bank has established a dedicated Consumer Assistance Unit (CAU) to serve as the single point of contact for receiving, investigating, and resolving all client concerns, complaints, inquiries, and service requests.

ii. This mechanism is free of charge, accessible through multiple channels, and responsive to all Depositors, including those with limited digital access. The Bank adheres to the principles of fair treatment, transparency, redress, and data privacy.

b. Contact Channels

i. Depositors may lodge concerns through any of the following:

1. Customer Hotline: (+632) 8683-7770 or +63919 058 7777

2. Email: cxsupport@ownbank.com

3. Walk-in Complaints: 505 P. Burgos Avenue, Caridad, Cavite City 4100, Cavite

ii. For faster processing, Depositors are encouraged to provide account details and a clear description of the concern.

c. Responsibilities of the Consumer Assistance Unit

i. The CAU is responsible for:

1. Acknowledging receipt of complaints within one (1) banking day;

2. Providing an initial response or clarification within three (3) banking days;

3. Coordinating with relevant departments for resolution

4. Providing a final resolution within thirty (30) banking days, extendable only for complex cases with proper written notice to the Depositor;

5. Explaining the resolution and rationale in clear, simple language.

d. Suspension of Charges on Disputed Transactions

i. In case of disputed transactions or unresolved complaints, the Bank shall suspend any related charges or account restrictions to prevent unjust consequences on the Depositor’s credit or account status while the matter is under review, except for undisputed obligations already due and demandable.

e. Disputing Account Closure or Freezing

i. Depositors may dispute any account closure, freeze, or garnishment order by submitting a formal complaint through the CAU. Where permitted by law, the Bank shall notify the Depositor of the order and release funds promptly once the freeze or legal restriction is lifted.

f. Error Resolution and Unauthorized Transactions

i. If the Depositor suspects an error or unauthorized transaction, they must report it within thirty (30) days of the transaction or receipt of the statement. The Bank may consider later disputes if fraud or lack of awareness is reasonably demonstrated. The Depositor must provide:

1. Full name and contact details

2. Account information

3. Date and details of the disputed transaction

4. Description of the error or issue

ii. The Bank will investigate and respond within forty-five (45) days, and if found at fault due to negligence or system failure, the Bank shall provide full reimbursement of the affected amount.

g. Disputes Involving Third Parties

i. The Depositor is solely responsible for resolving issues involving external institutions, such as partner banks, e-wallets, or cash-in channels. Own Bank shall not be liable for errors caused by these third parties, without prejudice to the Bank’s duty of due diligence in selecting and monitoring service partners.

h. Arbitration and Legal Remedies

i. All disputes not resolved through the above mechanisms may be submitted to voluntary arbitration in accordance with Philippine law. Arbitration shall supplement but not replace or diminish the Depositor’s statutory right to elevate concerns to the BSP under RA 11765.

ii. The prevailing party may recover reasonable legal fees and costs. Any claim must be filed within one (1) year from the date the cause of action arose. Failure to do so shall bar the claim permanently.

N. ACCURACY OF INFORMATION

a. Bank’s Best Efforts

1. Own Bank shall exert reasonable efforts to ensure the accuracy, reliability, and timeliness of information made available through its Mobile Banking Application and related services.

2. However, the Bank does not warrant that such information will be completely error-free or always up-to-date.

3. If the Depositor becomes aware of any discrepancies, errors, or unauthorized entries in the information displayed or provided through the facility, they must notify the Bank immediately.

4. In accordance with Republic Act No. 11765 and relevant Bangko Sentral ng Pilipinas (BSP) consumer protection regulations, the Bank shall promptly investigate and, where verified, correct any erroneous debit, credit, or system posting, including making appropriate adjustments to any charges, interest, or balances affected.

5. Any changes to interest rates, fees, charges, or other material terms shall be communicated to the Depositor at least thirty (30) calendar days prior to effectivity through email, SMS, or written notice. Should the Depositor disagree with the updated terms, they may close the account without incurring any penalty.

6. The advance notice requirement shall not apply to changes or adjustments mandated or directed by the BSP, other regulatory agencies, or by law, which may take effect immediately as required.

b. Depositor’s Responsibility for Input Data

1. Own Bank shall not be held liable for any loss, delay, or consequence arising from erroneous or incomplete information supplied by the Depositor through the Mobile Banking Application or other communication channels (e.g., email, SMS, or written correspondence).

2. The accuracy and completeness of all information submitted to the Bank remains the sole responsibility of the Depositor.

3. If the Depositor suspects that incorrect or misleading data has been submitted, they must immediately notify Own Bank so corrective measures may be taken on a best-effort basis.

c. Disclaimer on Content Accuracy

1. No representation or warranty, express or implied, is given by Own Bank as to the accuracy, completeness, or reliability of the content, data, or information provided through the Mobile Banking Application or any associated channel.

O. Consent to Processing of Information

a. Commitment to Confidentiality

i. Own Bank, The Rural Bank of Cavite City, Inc. (the “Bank”) is committed to upholding the confidentiality, integrity, and security of all personal data collected in the course of its banking operations.

ii. The Bank collects, uses, stores, and processes personal, sensitive, and financial information of the Depositor in accordance with applicable laws, including:

1. Republic Act No. 10173 (Data Privacy Act of 2012);

2. Republic Act No. 1405 (Bank Secrecy Law); and

3. Relevant rules and issuances of the Bangko Sentral ng Pilipinas (BSP), the National Privacy Commission (NPC), and other regulatory agencies.

b. Purpose of Data Collection and Processing

i. The Bank collects and processes personal data for the following legitimate purposes:

1. Providing and maintaining banking products and services;

2. Performing contractual obligations;

3. Complying with legal and regulatory obligations, including those under:

a. The Anti-Money Laundering Act (AMLA);

b. PDIC Charter; and

c. BSP Circulars;

4. Preventing fraud and ensuring transaction security;

5. Conducting credit evaluation, risk management, and internal audits;

6. Enhancing customer service, product development, and marketing initiatives.

ii. The lawful bases for processing include:

1. The Depositor’s consent;

2. Necessity for the performance of a contract;

3. Compliance with legal obligations; or

4. The Bank’s legitimate interests, subject to depositor rights.

c. Retention of Personal Data

i. Personal data shall be retained only as long as necessary to fulfill its intended purpose or as required by law.

ii. As a general rule, the Bank retains personal data for up to ten (10) years from the date of:

1. Last transaction;

2. Account closure; or

3. Termination of the relationship.

iii. A longer retention period may apply if mandated by law or justified by regulatory or operational requirements.

d. Depositor Rights

i. In accordance with the Data Privacy Act of 2012, the Depositor has the right to:

1. Be informed of data collection and purpose;

2. Access personal data held by the Bank;

3. Rectify inaccurate or incomplete data;

4. Erase or block data in cases of unlawful processing;

5. Object to processing based on legitimate interest or for non-contractual purposes;

6. Data portability for use in other services;

7. Seek damages for negligent or unauthorized data handling; and

8. File a complaint with the National Privacy Commission (NPC) or the BSP Consumer Protection and Market Conduct Office.

e. Authorized Disclosures

i. The Bank may disclose personal data only under the following conditions:

1. When required by law, subpoena, or lawful order of a competent authority;

2. Upon request of authorized government agencies, including:

a. Bangko Sentral ng Pilipinas (BSP),

b. Anti-Money Laundering Council (AMLC),

c. Philippine Deposit Insurance Corporation (PDIC),

d. Bureau of Internal Revenue (BIR),

e. or other competent authorities;

3. When necessary to protect the Bank’s rights, defend legal claims, or comply with regulatory reporting;

4. With the Depositor’s explicit written consent; or

5. To third-party service providers under compliant data-sharing or outsourcing agreements.

f. Data Breach Notification

i. In case of a data breach likely to compromise personal information, the Bank shall notify affected Depositors without undue delay in compliance with:

1. NPC Circular No. 16‑03, and

2. BSP cybersecurity and consumer protection rules.

ii. The notification shall specify: nature of breach, affected data, potential consequences, and remedial measures.

iii. The Bank shall report qualifying breaches to the NPC and BSP as required.

iv. Depositors will be notified via email, SMS, phone, postal mail, or secure in-app messages.

v. The Bank and its third-party providers are required to maintain breach management protocols to promptly detect, contain, and resolve incidents.

g. Privacy Notice and Consent

i. In line with NPC Advisory No. 2017-01 and RA 11765 plain-language standards, the Bank shall provide Depositors with a short, easy-to-read summary of data practices during onboarding, with a link to the full Privacy Policy and Data Privacy Statement.

ii. By opening or maintaining an account, the Depositor consents to the collection, use, and processing of data for purposes set out in these Terms.

iii. Marketing, profiling, and promotional use of personal data shall be subject to separate, explicit, and opt-in consent. Depositors retain the right to withdraw consent at any time without affecting the legality of prior processing.

iv. Transfers shall be made only to jurisdictions with adequate data protection safeguards, consistent with NPC guidance.

v. The Bank shall adopt reasonable physical, organizational, and technical measures to protect personal data against loss, misuse, or unauthorized access, and requires its third-party providers to do the same.

h. Inquiries, Complaints, and Contact Information

i. Depositors may contact the Bank’s Data Protection Officer (DPO) at:

1. Email: dpo@ownbank.com.ph

2. Mail: Data Protection Officer, Own Bank, The Rural Bank of Cavite City, Inc., 505 P. Burgos Ave., Caridad, Cavite City 4100, Cavite

ii. If unresolved, the Depositor may file a complaint with the National Privacy Commission (https://privacy.gov.ph) or through official NPC channels.

i. Use of Information for Marketing and Service Enhancements

i. The Bank may use the Depositor’s personal information for the following service-related purposes, based on contractual necessity, legal obligation, or the Bank’s legitimate interest:

1. To send service notifications, updates, and advisories relevant to the Depositor’s account or banking relationship;

2. To improve customer service and the overall user experience;

3. To conduct product development, operational analytics, and internal reporting;

4. To perform surveys and gather feedback aimed at improving the Bank’s systems and services.

ii. Separately, the Bank may also use the Depositor’s personal data for marketing and promotional purposes, subject to the Depositor’s prior consent, including:

1. Sending promotional content, special offers, and updates on products and services of the Bank or its accredited partners;

2. Providing personalized marketing messages through SMS, email, push notifications, social media, or other communication channels;

3. Conducting market research and customer profiling for targeted marketing initiatives.

iii. Separate consent shall be obtained for marketing-related communications. The default setting shall be opt-in. Depositors who do not wish to receive marketing communications may:

1. Choose not to opt in during account opening or anytime thereafter, or

iv. Withdraw consent at any time through simple and accessible means such as:

1. Clicking an unsubscribe link in email marketing,

2. Replying “STOP” to SMS marketing messages,

3. Updating preferences in the Bank’s mobile app or website,

4. Contacting the Bank’s customer service or Data Protection Officer.

v. Opting out of marketing communications shall not affect the Depositor’s access to, or use of, the Bank’s core banking services.

j. Responsibilities Regarding Third-Party Information

i. If the Accountholder receives information about another customer through Own Bank services, they must keep it confidential.

ii. Use or disclosure of such information without the other customer’s consent is strictly prohibited and may result in penalties under applicable law.

P. General Agreements

a. Introduction of New Services

i. Own Bank may introduce new services and features that may be subject to separate or updated Terms and Conditions.

b. Suspension or Termination of Services

i. The Bank may suspend or terminate online services at its discretion.

ii. The Depositor agrees to be bound by applicable laws and Bank policies.

c. Service Interruptions and Limitations

i. The Bank shall not be liable for service failures caused by reasons beyond its control.

ii. This includes Force Majeure Events such as natural disasters, power outages, civil unrest, or other extraordinary circumstances.

iii. However, this limitation of liability does not apply in cases where the Bank has been grossly negligent or failed to comply with its legal obligations under RA 11765.

d. AMLC Reporting

i. The Bank may report covered and suspicious transactions to the Anti-Money Laundering Council (AMLC) without prior notice to the Depositor.

e. Amendments

i. Any amendment to these Terms and Conditions shall be communicated through the Bank’s official channels, including but not limited to:

1. The Own Bank Mobile Application,

2. The Bank’s official website,

3. Email, SMS, or other secure means of communication.

ii. In compliance with Republic Act No. 11765 (Financial Products and Services Consumer Protection Act) and BSP regulations, the Bank shall provide the Depositor with at least thirty (30) calendar days’ prior notice before any change in interest rates, fees, charges, or other material terms takes effect.

iii. The Depositor has the right to reject any amendment and may opt to close the account without penalty before the effective date of such amendment. The Bank shall honor all transactions already initiated prior to the effective date and shall refund, where applicable, any unused portion of service charges if the account is closed as a result of the amendment.

iv. Amendments to these Terms may only be made under specific and legitimate circumstances, such as:

1. Changes required by laws, regulations, or BSP directives;

2. Adjustments necessary to improve service delivery or strengthen security controls; or

3. Other operational reasons consistent with prudent banking practice.

v. The Bank shall clearly state the basis and justification for the amendment in the notice to the Depositor.

vi. Where amendments are subject to prior regulatory review or clearance, such changes shall take effect only upon approval of the Bangko Sentral ng Pilipinas (BSP).

vii. Continued use of the Bank’s products or services after the effectivity date of the amendments shall be deemed as acceptance of the changes, without prejudice to the Depositor’s rights under RA 11765 and applicable laws.

f. Waiver and Cumulative Remedies

i. Any waiver by the Bank must be in writing to be valid.

ii. Rights and remedies of the Bank under these Terms are cumulative and do not exclude other legal rights.

g. Legal Venue

i. These Terms and Conditions shall be governed by the laws of the Republic of the Philippines.

ii. Venue for legal actions against the Bank shall be exclusively filed in Taguig City or Cavite City.

Q. FATCA Compliance

a. Consent and Disclosure

1. The Depositor acknowledges and consents that Own Bank, The Rural Bank of Cavite City, Inc. (the “Bank”), in compliance with the Foreign Account Tax Compliance Act (FATCA) and the Inter-Governmental Agreement (IGA) between the Republic of the Philippines and the United States of America, may disclose account information and other required data to:

1. The U.S. Internal Revenue Service (IRS),

2. The Bureau of Internal Revenue (BIR), and/or

3. Other competent regulatory authorities, as may be necessary to comply with FATCA reporting and withholding obligations.

2. The Depositor agrees to:

1. Inform the Bank immediately of any change in FATCA status, including becoming a “U.S. person” (as defined under FATCA and the IGA) or acquiring a U.S. Taxpayer Identification Number (TIN);

2. Provide such certifications, forms (e.g., IRS Form W-9 or W-8 series), and supporting documentation as may be required by the Bank, the BIR, or the IRS.

b. Indemnity

1. The Depositor shall indemnify, defend, and hold the Bank harmless against any liability, claim, cost, or expense (including penalties or withholding taxes) arising from:

1. The Depositor’s failure to provide complete, accurate, or timely FATCA-related information;

2. The provision of false, misleading, or outdated certifications; or

3. Any consequences resulting from the Depositor’s refusal or failure to comply with FATCA reporting obligations.

c. Nothing in this clause shall be construed as limiting the Bank’s right and obligation to comply fully with FATCA, the PH-U.S. IGA, the BIR’s implementing regulations, and any subsequent amendments thereto.

R. AMLA Compliance

a. Acknowledgment of Compliance Obligations

1. The Depositor acknowledges and agrees to the Bank’s compliance obligations under the Anti-Money Laundering Act (AMLA), including:

1. Transaction monitoring

2. Account restrictions

3. Reporting to the AMLC

b. Freezing or Closure of Account

1. The Bank may, without prior notice to the Depositor, freeze or close accounts in compliance with the Anti-Money Laundering Act of 2001 (RA 9160, as amended), its implementing rules and regulations, or any related issuances by the Bangko Sentral ng Pilipinas (BSP), the Anti-Money Laundering Council (AMLC), or other competent authorities.

2. Freezing of accounts shall at all times be subject to the authority and orders of the AMLC or the Court of Appeals, as provided under the AMLA.

3. Where legally permitted, the Bank shall provide the Depositor with prompt notice after the effectivity of the freeze or closure, indicating the legal authority under which such action was taken, and the process for contesting or seeking the release of funds once the order is lifted.

4. The Bank shall not be liable for any losses, damages, or inconveniences suffered by the Depositor arising from such freezing or closure of accounts, except in cases where such action is shown to result from the Bank’s gross negligence, willful misconduct, or non-compliance with its obligations under RA 11765 (Financial Products and Services Consumer Protection Act).

S. Tax Disclosure Compliance

a. Consent to Disclosure

i. The Depositor authorizes the Bank to disclose account and tax-related information to the Bureau of Internal Revenue (BIR), foreign tax authorities, or other competent government bodies strictly to the extent required by applicable laws, regulations, inter-governmental agreements, or tax treaties.

ii. Such disclosures shall be limited in scope to what is necessary to comply with reporting obligations, including but not limited to the Foreign Account Tax Compliance Act (FATCA), the Philippines–U.S. Inter-Governmental Agreement (IGA), and any applicable OECD Common Reporting Standard (CRS) requirements.

iii. The Bank shall not disclose additional information beyond what is required by law, regulation, or treaty obligation, and shall continue to apply safeguards consistent with the Data Privacy Act of 2012 (RA 10173).

a. Waiver of Bank Secrecy

1. The Depositor waives applicable rights under Republic Act No. 1405 (Bank Secrecy Law) to the extent necessary for lawful tax-related disclosures.

b. Updates and Indemnity

1. The Depositor agrees to promptly update the Bank of any changes in tax residency or tax identification.

2. The Depositor shall indemnify the Bank for any liability arising from lawful disclosures made in accordance with this provision.

T. Termination of the Agreement

a. Voluntary Termination by Depositor

1. The Depositor may request termination of the Own Bank Mobile Banking services by contacting Customer Service.

2. A processing period of ten (10) banking days is required.

3. The Depositor remains liable for all transactions made before the effective termination date.

b. Effect on Pending Transactions

1. These Terms remain in full effect for transactions completed but not yet posted or debited to the account at the time of termination.

c. Termination by the Bank

1. The Bank may withdraw the service at any time for security, risk management, or valid operational reasons, subject to reasonable notice.

2. If termination is erroneous and not due to the Depositor’s fault, the Bank’s liability shall be limited to a refund of any collected service fees or charges.

d. Account Closure

1. Closure of all accounts enrolled in the Mobile Banking service will automatically terminate access to the service.

e. Termination Due to Breach or Legal Events

1. The Bank may suspend or terminate the service with notice upon:

1. The Depositor’s breach of these Terms; or

2. Notification of the Depositor’s death, bankruptcy, or legal incapacity

f. Right to Access Records After Termination

1. Upon termination, the Depositor retains the right to obtain copies of their transaction history, account statements, and other relevant records within a reasonable period, subject to applicable laws, BSP regulations, and the Bank’s record retention policies.

2. Requests shall be made through the Bank’s official customer service channels.

U. Revisions and Amendments

a. The Bank may revise these Terms and Conditions in response to regulatory directives, policy changes, or operational requirements.

b. The Bank shall provide notice of such revisions through appropriate channels, including branch posting, email, SMS, the official website, or the Own Bank Mobile Banking App.

c. The Depositor’s continued use of the Own Bank Mobile Banking services after the effectivity date of such revisions shall constitute acceptance of the amended Terms.

d. For clarity, any revisions shall take effect only from the specified effective date and shall not affect transactions already consummated, completed, or initiated prior to such date.

V. Liability

a. Own Bank, including its directors, officers, employees, subsidiaries, affiliates, agents, and representatives, shall not be liable for any loss or damage in connection with transactions coursed through the Mobile Banking service arising from:

i. Disruptions due to events beyond the Bank’s reasonable control, including, but not limited to:

1. Force Majeure events such as typhoons, floods, earthquakes, civil unrest, or other calamities;

2. Power outages, breakdown of systems, hardware, software, or telecommunications infrastructure.

ii. Unauthorized access resulting from Depositor-related circumstances, including, but not limited to:

1. Theft, loss, or compromise of mobile devices;

2. Disclosure or compromise of login credentials by the Depositor;

3. Disabling of OTP or misuse of biometric features.

iii. Inaccurate or delayed transaction information caused by:

1. Faulty telecommunication or internet service.

2. Errors in external systems or devices beyond the Bank’s control.

iv. Fraudulent transactions or unauthorized account activity where the Depositor has failed to exercise due care in safeguarding their credentials or promptly reporting suspicious activity.

v. Indirect, incidental, or consequential damages, such as loss of profit, opportunity, or data, arising from the use of the Mobile Banking service.

vi. Disclosure of Depositor information to unauthorized parties due to:

1. Wiretapping, illegal surveillance, or misrouting in networks outside the Bank’s control;

2. Loss or theft of enrolled mobile devices.

vii. Provided, however, that the foregoing limitations shall not apply in cases where loss or damage is directly attributable to the Bank’s gross negligence, fraud, or willful misconduct, or that of its duly authorized service providers.

b. The Bank shall not be liable for losses arising from:

i. Errors in the installation, configuration, or misuse of the Mobile Banking App by the Depositor;

ii. Disruptions, outages, or illegal access involving third-party networks, unless caused or aggravated by the Bank’s proven negligence.

c. The Bank shall provide electronic Statements of Transactions for all Accounts.

i. No passbook or printed statement shall be issued unless otherwise required by law, and such printed copies may be subject to applicable fees.

ii. Electronic statements shall be deemed received once made available through secure digital channels designated by the Bank.

iii. The Bank shall not be liable for loss, damage, or delay in the Depositor’s receipt of statements arising from circumstances beyond its control (e.g., incorrect or outdated contact details, email filtering, or device issues).

iv. The Depositor is expected to review transaction records regularly. Any error, discrepancy, or unauthorized transaction must be reported to the Bank within thirty (30) calendar days from the statement date.

v. In line with RA 11765’s principles of fair treatment and timely redress, the Bank may consider dispute requests beyond this period where the Depositor can reasonably demonstrate lack of access, delayed notice, or the occurrence of fraud.

vi. The Bank commits to conducting prompt and thorough investigations of all reported unauthorized transactions. Where warranted, the Bank shall reimburse the Depositor for losses arising from:

1. The Bank’s proven negligence;

2. System errors or failures; or

3. Failures of duly authorized service providers engaged by the Bank.

W. Non-Waiver

a. Any delay or failure by Own Bank to enforce its rights does not constitute a waiver.

b. Waivers must be made in writing and signed by authorized representatives.

X. Severability

a. If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

Y. Entire Agreement

a. These Terms and Conditions, including related disclosures and policies, constitute the complete agreement between the Depositor and Own Bank.

b. They supersede all prior communications, agreements, or understandings relating to Mobile Banking services.

Z. Notice and Communication

a. All official communications shall be sent to the contact information on file with Own Bank.

b. The Depositor agrees to immediately notify the Bank of any changes in their contact details.

c. The Depositor consents to the recording of calls and communications for legal, regulatory, or quality control purposes.

d. The Depositor expressly consents to the recording, monitoring, and storage of telephone calls, online chats, and other communications made through the Bank’s official customer service channels, including but not limited to its hotlines, official email, secure in-app chat, and other duly designated communication platforms.

e. Such recordings may be used by the Bank solely for the purposes of:

i. Verifying instructions and transactions;

ii. Ensuring service quality and staff training;

iii. Meeting compliance, audit, and legal requirements; and

iv. Resolving disputes.

f. This consent constitutes a limited waiver of the Depositor’s rights under the Anti-Wiretapping Act (RA 4200), applying only to communications voluntarily made through the Bank’s official channels.

g. For clarity, this waiver does not extend to any other form of surveillance, interception, or recording outside the Bank’s official and duly disclosed facilities.

AA. Language

a. In case of any conflict or inconsistency between the English version and any translated version of these Terms, the English version shall prevail.

BB. Deposit Insurance

a. All eligible deposits with Own Bank are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1,000,000 per depositor, including principal and accrued interest, regardless of the number or type of accounts maintained with the Bank.

b. The following important rules apply under PDIC regulations:

i. Per Depositor, Not Per Account - The maximum insurance coverage of ₱1,000,000 applies per depositor, not per account. If a depositor maintains multiple accounts, whether savings, current, or time deposits, the total combined balance (including accrued interest) is insured only up to this limit.

ii. Deposit Splitting—or the practice of dividing deposits into smaller amounts and placing them under different names with the intent to maximize PDIC coverage—is strictly prohibited. Deposits found to be artificially structured or split shall be consolidated and may be subject to disqualification from PDIC insurance coverage.

iii. Joint Accounts - For joint accounts, the insurance coverage is divided equally among the co-depositors, unless a different sharing arrangement is expressly stated in the account records. The individual share of each co-depositor shall be added to their other deposits (if any) with the Bank and insured up to the maximum limit.

iv. Accounts Held in Trust or as Fiduciary - Deposits held by a trustee, guardian, or other fiduciary are insured separately from the depositor’s personal accounts, provided that the capacity and the actual owner or beneficiary are properly disclosed in the account records in accordance with PDIC rules.

v. Disclosure and Transparency - The Depositor is responsible for ensuring that all accounts reflect the correct ownership structure, and that all joint, trust, or fiduciary relationships are fully and accurately disclosed to the Bank at the time of account opening or updating.

vi. PDIC insurance coverage is automatic by law; no depositor application or enrollment is required.

c. For more information, Depositors may visit the PDIC website at www.pdic.gov.ph or contact PDIC directly for guidance on insurance coverage computation and claim procedures.