PSBANK ONLINE TERMS AND CONDITIONS
I. NATURE OF PSBANK ONLINE
1. PSBank Online is a facility granted by the
PHILIPPINE SAVINGS BANK (herein referred to as the “Bank”) to its depositor or
borrower (herein referred to as “Client”), for as long as he/she is qualified
under the terms and conditions imposed by the Bank.
2. PSBank Online shall be made available to
Client 24 hours a day, 7 days a week. However, some or all of the services may
not be available at certain times due to maintenance, computer,
telecommunication, electrical, or network failure and/or any other reasons
beyond the Bank’s control.
II. PROPRIETARY INTEREST
1. PSBank is the sole owner of all the information
and material (including any enhancements or modifications) used in, or derived
from PSBank Online including the website.
2. All logos in PSBank Online are either
trademarks or registered trademarks of PSBank or its licensors, and may not be
copied, imitated or used, in whole or in part, without the Bank’s written
consent. Further, these logos may not be altered, modified or changed in any
way, or used in a manner that is disparaging to the Bank or displayed in any
manner that implies the Bank’s sponsorship or endorsement.
III. DUTIES OF THE BANK
1. Internet Banking Products and Services. The list
of Internet Banking products and services, as well as the applicable fees and
charges for such products and services shall be posted in a conspicuous place
within Bank premises or on the PSBank Online website.
To help Client choose a suitable product or service,
the Bank shall post information related to internet banking products or
services on the PSBank Online website, or in a conspicuous place within
2. Information. The Bank shall safeguard Client’s
personal and account information, and use any other information communicated to
it within the bounds of applicable Philippine laws, and of other rules and
regulations that may be issued by the Bangko Sentral ng Pilipinas and the
Bankers’ Association of the Philippines.
3. Privacy and Security. The Privacy and Security
Policy, which contains the norms, infrastructure, standards, and procedures by
which the Bank shall continually safeguard customer information and ensure its
confidentiality, shall be made available to Client through the Bank’s website.
4. Communication. The Bank shall course all PSBank
Online correspondence, including announcements regarding services and
facilities, changes in the PSBank Online Terms and Conditions, or
changes in the Privacy and Security Policies, through Client’s registered email
address or through the Bank’s website, or by posting the same in a conspicuous
place within Bank premises.
IV. DUTIES OF THE CLIENT
1. Access. Client shall have sole access to his/her
account(s) through PSBank Online and shall exert reasonable efforts to
ensure that PSBank Online is secured and cannot be accessed by
unauthorized third parties.
Client shall keep his/her Username and Password
confidential, shall not disclose said Username and Password to anyone, and
shall take the necessary steps to prevent the discovery of said Username and
Password by unauthorized persons. Client shall be required to change his/her
initial Password upon initial log-on.
2. Information. Client shall hold in strictest
confidence any information of any nature that is made available, disclosed and
obtained from the PSBank Online. Information obtained shall be used for
the purpose intended and not for any other purpose.
Client shall notify the Bank immediately upon
receipt, of any data or information not intended for him/her, and shall delete
such data or information from his/her terminal immediately. Client shall ensure
the strict confidentiality of such information.
The provision of this clause shall survive the
termination of this Agreement. Disclosure of any confidential information
entitles the BANK to claim for damages.
3. Proprietary Interest. Client shall use PSBank
Online only for its intended purpose. Client shall not disassemble,
decompile, copy, modify or reverse-engineer the PSBank Online software,
nor allow anyone else to do so.
4. Communication. Client shall provide the Bank with
his/her correct and operational e-mail address. Client shall promptly notify
the Bank of any change in his/her e-mail address, contact numbers, home or
business address or any other information, which may affect delivery of
5. Transactions. Client shall be responsible for
verifying if his/her PSBank Online transactions, including future-dated
transactions, have been processed.
V. CUSTOMER FEEDBACK
Client shall promptly notify the Bank, in writing or
via e-mail, through his/her Branch of Account or through the Customer Service
Department, of any irregularities, discrepancies, omissions, inaccuracies or
incorrect entries pertaining to internet banking-related transactions.
For any issues or concerns with PSBank Online,
Client is advised to contact the nearest Branch, email us at
email@example.com or call the Bank’s 24/7 Customer Service at (+632)
The Bank’s Customer Service Division shall be
responsible for handling Client’s comments, queries and suggestions, and
providing regular status updates through the Client’s registered email address.
Customer concerns, as well as reports received from
Client pertaining to unauthorized or questionable transactions, shall be
subject to evaluation and investigation by the Bank. Appropriate action shall
be undertaken based on the results of the Bank’s investigation. Client may
follow-up concerns or give feedback via firstname.lastname@example.org or call the
Bank’s 24/7 Customer Service at 845-8888.
VI. LIMIT ON LIABILITY
1. The Bank shall reserve the right to determine the
scope of PSBank Online, set or change the daily cut-off time, modify,
restrict, withdraw, cancel, disconnect, deactivate, suspend or discontinue any
or all services without prior notice.
2. The Bank shall not be held liable for any damage
that may be caused by the contents available on PSBank Online or the
set-up of other web sites linked to the site. The access to, and use of the web
site and other web sites is subject to the terms and conditions applicable to
3. Client understands that upon leaving the PSBank
website, he/she shall no longer be protected by the privacy policies and
security features inherent in the PSBank Online website.
4. The Bank shall not be liable for the inability of
Client to use PSBank Online or to access the website, or for any
unauthorized actions or transactions using their Username and Password, or
for any other cause beyond control, such as but not limited to problems with
the computer hardware or software (including viruses and bugs) or
related/incidental problems, that may be attributed to the services provided by
any service provider or information service provider.
5. The Bank shall not be liable for any undelivered
e-mail communication or any cost that Client may incur for maintaining an
internet access and an e-mail account.
6. The Bank shall not be liable for any loss or
damage in connection with any unauthorized interception or use of data relating
to Client or to Client’s account(s), including the missending thereof.
7. Client hereby authorizes the Bank to act upon any
instructions, which are identified by the use of Client’s Username and
Password. The Bank is responsible for acting only on those instructions sent
through PSBank Online that were actually received by the Bank. Client
also agrees that the Bank does not assume any responsibility for malfunctions
in communications facilities not under its control that may affect the
timeliness or accuracy of the instructions sent.
8. Upon receipt of Client’s instruction(s), the Bank
may implement them at its absolute discretion. The Bank shall treat and
consider as valid and binding any instruction given or agreement made by any
person using Client’s Username and Password, including without limitation,
any transfer to a third party account maintained with the Bank.
9. The Bank is allowed but not obliged to verify any
instruction given through the use of Client’s Username and Password by
sending e-mail online or by telephone or any other means.
10. The Bank is not obliged to investigate the
authenticity or authority of the persons sending the instructions nor verify
the accuracy and completeness of said instructions. Such instructions shall be
deemed correct, complete, irrevocable and binding upon Client. Client hereby
accepts full responsibility for all transactions executed via PSBank Online
and in ensuring the accuracy and completeness of said instructions.
11. The Bank may at its sole discretion, without
notice and without stating the reason therefore, cancel or refuse to execute
any of Client’s instructions at any time without incurring any liability.
12. Client shall be solely liable for any losses or
damages that he may incur:
a. for any discrepancies, omissions, inaccuracies or
incorrect entries in the statement that is not immediately reported;
b. if Client acted fraudulently or negligently,
including failing to properly safeguard his/her Username and Password;
c. if Client failed to immediately report any
unauthorized transaction(s) made;
d. if for some reason and through no fault of the
Bank, bills remain unpaid and the biller discontinues/cancels the account or
e. If Client’s instruction is not implemented and
not reported promptly.
In case of a dispute on any transaction completed via
PSBank Online, either contact your nearest Branch, email us at
email@example.com or call the Bank’s 24/7 Customer Service at
845-8888 for assistance with the following information:
a. your name, Customer ID and relevant account
b. the amount of the disputed transaction;
c. what sort of transaction it was eg. bill payment, transferring money,
credit card payment etc.;
d. the transaction number(s), if these are available;
e. the date and approximate time (if known) on which the disputed
Bank will investigate the matter and update you of the status within 48 hours
after receipt of your concern.
13. For loan applications submitted online:
a. Client certifies that all information in the
application form and all supporting documents are true and correct.
b. Client authorizes PSBank to verify all such
information and obtain additional information about himself/herself, including
previous credit transactions with other institutions.
c. Client expressly waives any and all statutory
provisions governing confidentiality of such information if applicable.
d. Client fully understands that any
misrepresentation or failure to disclose information on his/her part as
required in the loan application may cause the disapproval of the application
and discontinuance of access to PSBank Online.
e. Client agrees that the application remains
PSBank’s property and the same may be used at its discretion whether the credit
is granted or not.
f. Upon acceptance of the application, Client
legally and validly binds himself/herself to the applicable Terms and
Conditions of the loan, including but not limited to joint and several
liability for all charges, fees and other obligations incurred thru the
availment of the loan.
g. Client authorizes the Bank to report and/or
include his/her name and other pertinent information about his/her loan history
in any credit bureau or institution.
h. Client expressly authorizes the Bank to send
updates about his/her loan via SMS/text, email, mail or other means of
1. The Bank may amend/supplement the PSBank Online
Terms and Conditions from time to time.
2. Changes in Terms and Conditions pertaining to
PSBank Online shall be communicated to Client via his/her registered
e-mail address or through the PSBank Online website, or by posting the
same in a conspicuous place within Bank premises.
VIII. DEACTIVATION OR TERMINATION
1. The Bank reserves the right to deactivate Client’s
account from PSBank Online without prior notice, due to mishandling of
accounts as defined by standard operating procedures, or, if in the Bank’s
judgment, Client’s continued access to PSBank Online may adversely
affect the credibility/security of the system. While such deactivation may be
temporary, the Bank reserves the right to permanently delist Client from PSBank
2. The Bank may terminate this agreement once the
account becomes closed, dormant, garnished, escheated, or for whatever reason,
without the need of prior notice to Client.
IX. GOVERNING LAW
1. This Agreement shall be governed by the pertinent
laws of the Republic of the Philippines as well as all applicable rules and
regulations of the Bangko Sentral ng Pilipinas. Should judicial action be
necessary to enforce this Agreement, venue shall be in Makati, Philippines or
in such place where the Bank maintains a branch, at the Bank’s option. In case
of suit or where collection is referred to a collection agent, Client agrees to
pay attorney’s fees equal to of the total demand but in no case less than
P5,000 and liquidated damages equal to of total claim aside from actual costs
X. CONSENT TO THE TERMS AND CONDITIONS
1. Client hereby accepts and agrees to be bound by
the terms and conditions governing PSBank Online, its nature,
functionalities, operating features and to pay any applicable fees associated
with the use of the same.
2. Client understands that subsequent enrollment of
accounts to PSBank Online shall be covered by the same terms and
3. Client likewise agrees to be bound by any and all
laws, rules, regulations and official issuances applicable to PSBank Online
now existing or which may hereinafter be issued, as well as such other
terms and conditions governing the use of other facilities, benefits, or
services which were made available to Client in connection with PSBank Online,
including the full provisions in the Privacy and Security document
available in the website, the salient features of which are incorporated in
these Terms and Conditions.