TERMS AND CONDITIONS GOVERNING THE ISSUANCE AND USE OF THE BPI FAMILY CREDIT CARD
1. THE BPI FAMILY CREDIT CARD (“CARD”) – The CARD is the sole property of the BPI Family Savings Bank (BFSB). It is non-transferable. The privileges of the CARD may be terminated by BFSB at any time and for whatever reason or cause without need of prior notice to Cardholder and the Cardholder agrees to surrender his/her CARD upon demand to any authorized BFSB representative. The Cardholder agrees to hold BFSB free and harmless from any claim for damages arising from such termination. Continued use of the CARD after receipt of the written notice of termination shall be deemed fraudulent and will subject the Cardholder to appropriate legal proceedings. Delivery of the said written notice at the Cardholder’s latest reported mailing address shall be considered sufficient receipt of the notice of termination.
The term "Cardholder" shall refer to the person to whom or for whose use a CARD is issued by BFSB. It shall likewise include the person to whom a supplementary credit card is issued upon the application of the Cardholder.
2. RESPONSIBILITY OF THE CARDHOLDER – The Cardholder and his/her supplementary and/or surety(ies) shall be jointly and severally liable for all purchases and cash advances made through the use of the CARD, including all interests, penalties, fees and all other charges without the necessity of proof of signed charge slips. If the Cardholder uses the cash advance features at any BPI Automated Teller Machine (ATM) and/or authorized network, he/she hereby agrees to accept and pay for all cash advances including the corresponding interests, penalties, fees and other charges without the necessity of proof or ATM withdrawal/transaction record. The Cardholder agrees that all purchases and cash advances using the Card shall be conclusively presumed to have been personally made or authorized by the Cardholder.
3. EXPIRY, RENEWAL AND REINSTATEMENT OF THE CARD – Unless earlier terminated by BFSB, voluntarily cancelled or returned by the Cardholder, the CARD shall be valid from the day of issuance or renewal and expires on the last day of the month indicated on the face of the CARD. Renewal of the CARD shall be at the option of BFSB. BFSB shall likewise have the option of reinstating Cardholder’s privileges which have been terminated for any reason whatsoever upon payment of an additional processing fee equivalent to the annual fee.
4. ACCREDITED ESTABLISHMENTS – BFSB has contracted with establishments to honor the CARD for purchases of food, goods, merchandise and services. Likewise, BFSB has entered into an agreement with Mastercard/Visa where the CARD issued bearing the Mastercard/Visa label shall be honored at all Mastercard/Visa accredited establishments worldwide. However, BFSB shall not be responsible/liable to the Cardholder, if, for any reason(s), the CARD is not honored by the accredited establishments or Mastercard/Visa. Cardholder should always carry an alternative payment method and not solely rely on the Card to process payment of goods and/services purchased. The Cardholder agrees to hold BFSB, its directors, officers, employees and representatives free and harmless from any and all claims for damages resulting from the failure of any accredited establishment or Mastercard/Visa to honor the CARD.
Cardholder's liability to BFSB is absolute. The existence of any claim or dispute between Cardholder and any accredited establishment shall not affect Cardholder’s obligation to pay the purchases, availments and cash advances together with all interests, penalties, fees and other charges incurred thereon, if any, arising from the Cardholder’s use of the CARD (the “Total Outstanding Balance” or “TOB”). In cases of return of goods, tickets and services obtained through the use of the CARD where the merchant permits such return, the Cardholder agrees that (i) the refund shall not be in cash; and (ii) BFSB shall credit the Cardholder’s account for the refund.
5. LOSS OF THE CARD – In case of loss or theft of the CARD, Cardholder should immediately report such fact to BFSB by calling BPI Phone Banking at 889-10000, or domestic toll free at 1-800-188-89100, or if abroad, by calling 632-89-10000 or its toll free numbers in selected countries listed in BPI Express Online (EOL), giving details of the place, date, time and circumstances of the incident and the last purchase(s) made prior to the loss or theft of the CARD. Availments/transactions made and all interests, penalties, fees and other charges incurred arising from the use of the lost/stolen CARD shall be for the exclusive account of the Cardholder. After BFSB is notified of such loss or theft, the Cardholder shall have no financial liability for purchases, availments and cash advances, including interests, penalties, fees or other charges, which were not made or incurred by the Cardholder himself/herself or which were made or incurred without the Cardholder’s knowledge. Should the Cardholder fail to report immediately the loss or theft of the CARD to BFSB from the date of loss or theft, and to state the required information as to place, date and last purchase, availments and cash advances made, said failure shall be deemed proof that the Cardholder fraudulently made use of the CARD, and BFSB or its member establishments shall be free and harmless from any and all claims for damages. A reasonable fee shall be charged by BFSB for replacement of the lost or stolen CARD.
6. CREDIT LIMIT – Upon acceptance of Cardholder’s application, BFSB, at its sole discretion, shall grant a credit limit to the Cardholder expressed in local currency (Philippine Pesos) which is the maximum amount available for use. The total credit limit, which can be used for regular purchases and Special Installment Plan (S.I.P.), represents the maximum outstanding balance that a Cardholder and his/her supplementary cardholders are allowed to share at any given time subject to the security requirements and credit card management requisites which may be reasonably imposed by BFSB from time to time (the “Credit Limit”). Except in case of temporary increase in limit granted on promotional basis, in no event shall the Cardholder and his/her supplementary exceed the Credit Limit. BFSB reserves the right, at its sole and absolute discretion, to decline any such transaction(s), suspend and/or terminate the credit card privileges of the Cardholder and his/her supplementary, without prior notice, in case the said Credit Limit shall be exceeded. In such an event, the Cardholder agrees to pay in full the TOB, which shall immediately become due and payable, without the necessity of notice and demand, all of which are waived by the Cardholder and his/her supplementary. The Credit Limit is made available to the Cardholder and his/her supplementary on the next business day following any payment.
7. FEES AND CHARGES
a. ANNUAL FEES – The Cardholder shall pay to BFSB an annual membership fee, in such amounts as may be fixed by BFSB, to entitle him/her to the privileges of membership and the use of the CARD. Upon suspension or cancellation of the CARD privileges, all fees paid become non-reimbursable.
b. FINANCE CHARGES –Finance charge on regular purchases and fees is computed if the Cardholder pays less than the Statement Balance. It will be computed based on the Average Daily Balance (ADB) of the account from transaction posting date until the end of the current statement date. Finance charge on Special Installment Plan (S.I.P.) is computed by multiplying the total amount availed by the applicable interest rate, depending on the term. Monthly payment shall first be applied to interest then to the principal using the diminishing balance method.
c. PAYMENT OF CHARGES – In lieu of sending a printed copy of the Statement of Account (SOA) via mail or courier, the monthly SOA will be sent electronically to Cardholder’s email address (password-protected file). Cardholder should maintain an active email address to regularly receive his/her SOA. The SOA will also be available for viewing in the BPI’s website through BPI Expressonline (EOL). Cardholder may enroll his/her CARD account in BPI EOL and view his/her SOA electronically through this facility (the "eSOA”). By subscribing to the eSOA, the Cardholder agrees to view the monthly eSOA three (3) to five (5) banking days after statement cut-off date without need of prior notice from BFSB. It is understood and agreed that when the eSOA is made available for viewing, it shall be conclusively deemed received by the Cardholder. A printed copy of the SOA may also be requested by the Cardholder. A service fee shall be charged to the Cardholder's account for this request.
Cardholder agrees to pay the TOB or the “Minimum Payment Required” as stated in the SOA on or before the last day for payment indicated in the said SOA (the "Payment Due Date"). Such Payment Due Date may be changed to an earlier date if the Cardholder's account is considered overdue and/or with balances in excess of the Credit Limit, or to such other date as may be deemed proper by BFSB with notice to the Cardholder on the same monthly SOA. If the Payment Due Date falls on a Saturday, Sunday or Holiday, the payment shall be due on the immediately preceding business day prior to the Payment Due Date. Notwithstanding the absence or lack of proof of service of the SOA upon the Cardholder, or failure by the Cardholder to view the SOA after statement cut-off date, the latter agrees to pay any and all purchases, availments and cash advances made through the CARD within thirty (30) calendar days from the date of such purchase, availment, or cash advance, as the case may be. Failure of the Cardholder to pay the TOB or the “Minimum Payment Required” on the relevant Payment Due Date stated in the SOA or within thirty (30) calendar days from actual date(s) of purchases, availments and/or cash advances, whichever occurs earlier, and/or failure of the Cardholder to pay any other obligation (including interests, charges, taxes, such as but not limited to Value Added Tax (VAT) and other disbursements allowed by law) which the Cardholder may now or hereafter owe to BFSB or to any member of the BPI Group of Companies (BGC) or to any of their subsidiaries and affiliates such as but not limited to Bank of the Philippine Islands (BPI), BPI Capital Corp., BPI Century Tokyo Lease & Finance Corp., BPI Rental Corp., BPI Securities Corp., and BPI Direct, whether singly or jointly with another, or as principal or as surety/guarantor, shall render Cardholder in default without necessity of demand from BFSB, which the Cardholder expressly waives.
The TOB remaining unpaid after the Payment Due Date indicated on the monthly SOA shall bear finance charges and additional interest and penalty fees based on the amount due for every month or a fraction of a month’s delay.
The rate of interest and/or penalty rate stipulated may be increased, decreased or otherwise changed from time to time by BFSB in the event of, among others, changes in the interest rates prescribed by the Bangko Sentral ng Pilipinas (BSP) or in the international capital markets, in the rediscount rate of member banks with the BSP, in the interest rates on savings or time deposits or on bank’s borrowings, or there is a sudden change in the market rates for whatever reasons; or any law, circular, rule or regulation is enacted/issued or any circumstances has occurred which has the effect of increasing or decreasing BFSB’s/bank’s costs of funds, operating costs or intermediation costs, such as but not limited to reserve requirements, taxes, salaries or charges. The Cardholder authorizes BFSB to increase or charge additional service fees as may be deemed necessary to maintain the service to the Cardholder. The upward or downward adjustment of the interest, penalty rate and/or service fees shall be binding on the Cardholder on the date/s of effectivity as indicated in the written notice (in the monthly SOA or thru a separate notice) from BFSB. Any CARD with TOB or such amounts due and payable thereunder that are unpaid after thirty (30) calendar days from original billing statement date shall automatically be suspended, and those with accounts unpaid after ninety (90) calendar days from original billing statement date shall automatically be cancelled, without prejudice to BFSB’s right to suspend or cancel the CARD any time and for whatever reason. In case of default in his/her obligation as provided herein, Cardholder shall surrender his/her CARD to BFSB and shall, in addition to the interest and penalty charges aforementioned, pay the Other Charges specified in the immediately succeeding paragraph below, without prejudice, however, to BFSB’s right of considering Cardholder’s obligation unpaid (costs for demanding payment or advising cancellation of membership shall also be for the Cardholder’s account).
In case of default in his/her obligation as provided herein, Cardholder agrees to pay BFSB (a) attorney’s fees of twenty five percent (25%) of the amount due if the account is referred to a lawyer or to a collection agency, (b) a service fee for every dishonored check issued by the Cardholder in payment of his/her account, and (c) litigation expenses and judicial costs, if the payment of the account is enforced through court action.
Overpayments by Cardholder shall not earn interest and shall be applied to payment of the succeeding TOB or “Minimum Payment Required”. In case of terminated or cancelled CARD accounts and an overpayment is unclaimed for more than one (1) month from the date of termination or cancellation, a monthly Account Maintenance Fee of Php50.00 or an amount equivalent to the overpayment, whichever is lower, shall be charged on the account until the CARD balance is zeroed out.
d. CASH ADVANCE FEE – Cash Advance availments are subject to a cash advance fee. It can be availed at any BPI/BPI Family Savings Bank ATM’s nationwide and through the Cirrus (for Mastercard credit cards) and Visa/Plus (for Visa credit cards) networks worldwide. To avail of this facility, Cardholder must first nominate a Personal Identification Number (P.I.N.) at any selected BPI Express Banking Center. Cash Advance shall be earmarked against the Cardholder’s Credit Limit and is not an additional line of credit.
e. ISSUER’S SERVICE FEE ON FOREIGN CURRENCY TRANSACTIONS – All charges including those incurred abroad through the use of the CARD shall be billed and be payable in Philippine currency, subject to 1.75% fee on top of Mastercard/Visa’s foreign exchange rate on the date the transaction is posted.
f. OTHER FEES – Charge slip retrieval fee, card replacement fees, check protect fee, Special Installment Plan (S.I.P.), pre-termination fees and other fees are charged to the Cardholder’s account, when applicable. As necessary, the fees may be revised from time to time.
8. ERROR OR QUESTIONS ABOUT YOUR BILL/SOA – BFSB shall be notified immediately through BPI Phone Banking at 889-10000, or domestic toll free at 1-800-188-89100, or if abroad, by calling 632-8910000 or its toll free numbers in selected countries listed in BPI EOL, and in writing, of any billing error in the SOA. If no error is reported within twenty (20) calendar days from statement date indicated in the SOA, the SOA shall be considered correct and binding upon the Cardholder and his/her supplementary. The Cardholder and his/her supplementary recognize and admit the integrity of the SOA as an electronic document pursuant to the provisions of the Electronic Commerce Act and agree to pay the amount thereon on Payment Due Date without need for presentation of the signed charge slips.
9. DEPOSIT/PLACEMENT ACCOUNT – Unless otherwise agreed, the Cardholder agrees to maintain a current or savings deposit/placement account(s) with BPI or BFSB or any of their subsidiaries or affiliates (collectively, the “Bank”). Should the Cardholder fail to pay his/her TOB or any amounts due and payable under the CARD on the Payment Due Date, the amount thereof shall be debited from his/her deposit/placement account(s), without the necessity of a notice from BFSB, or such amount as may be sufficient to be applied as payment of his/her TOB or any amounts due, upon presentation of his/her SOA to said Bank by BFSB. It is agreed that these Terms and Conditions shall serve as a written authority for the Bank to debit, without notice, such TOB or any amounts due, from Cardholder’s deposit account(s) for the purpose aforementioned. BFSB and the Bank, their directors, officers, employees and representatives shall not be held accountable for any liabilities, charges, costs and expenses arising from any resulting returned/dishonored check drawn against Cardholder’s deposit/placement/account with the Bank or for any penalties and fees that may be imposed as a consequence of the foregoing. Should his/her TOB or any amounts due under the CARD exceed the amount debited from Cardholder’s deposit/account with the Bank, such excess shall immediately become due and payable and the Cardholder shall be considered in default of his/her obligations to pay the same.
10. RIGHT OF SET OFF – Effective upon his/her failure to pay his/her obligation arising from the use of the CARD, the Cardholder and/or his/her supplementary do hereby assign and transfer to BFSB, without need of demand, and by these presents have assigned and transferred to BFSB, any monies, securities, properties (real or personal) and things of value which are now or may hereafter be in the possession, custody or control of BFSB or any member of the BPI Group of Companies (BGC) or any of their subsidiaries or affiliates, on deposit or collateral or otherwise to the credit of and belonging to the Cardholder and/or his/her supplementary. For this purpose, the Cardholder and/or his/her supplementary do hereby consent, authorize, appoint and irrevocably constitute, and by these presents have appointed and constituted BFSB or any member of the BPI Group of Companies (BGC), or any of its subsidiaries or affiliates, as ATTORNEY-IN-FACT with full power and authority to inquire about, to assert their lien or legal claim on such monies, securities, properties (real or personal) and things of value which are now or may hereafter be in the possession, custody or control of BFSB or any member of the BPI Group of Companies (BGC), or any of its subsidiaries or affiliates, to sell at public or private sale and to apply the same, in whole or in part, to such obligations. In the absence of such monies, securities, properties (real or personal) or things of value or if the Cardholder’s TOB exceeds the proceeds of the sale, the Cardholder and/or his/her supplementary hereby agree to assign and deliver any deposit or funds the Cardholder and/or his/her supplementary may have with any other bank or financial institution to the extent of said Cardholder’s and/or his/her supplementary’s obligations to BFSB. For this purpose, the Cardholder and/or his/her supplementary do hereby consent and authorize said bank or financial institution to disclose to BFSB or its duly authorized representative any information relative to any deposit/placement the Cardholder and/or his/her supplementary may have with any such bank or financial institution.
11. SUPPLEMENTARY CARDS – The Cardholder may apply for supplementary CARD(s) which BFSB may approve on a case to case basis. The use of the CARD, as well as the supplementary CARD(s), shall be governed by these Terms and Conditions and secured by the Suretyship undertaking hereto. Any reference in these Terms and Conditions to the CARD issued to Cardholder shall also apply to supplementary CARD(s) and/or their renewals. Should supplementary CARD(s) be issued to the Cardholder’s appointed supplementary, the Cardholder or the supplementary shall be responsible for all the TOB, if any, made or incurred through the CARD and the supplementary CARD(s). In the event of separation of spouses, legal or otherwise, the Cardholder shall continue to be responsible for all such amounts incurred through the use of the supplementary CARD(s) unless Cardholder requests in writing that the privileges of such supplementary be terminated, provided all the TOB incurred shall have been fully paid and satisfied at the time of said request. In case of death of the Cardholder, the supplementary cardholder(s) shall be jointly and severally liable to settle the TOB incurred.
12. DELINQUENCY – The Cardholder is liable for all charges, fees and other obligations incurred through the use of the CARD and all supplementary CARD(s) and in the event of any delinquency, the Cardholder authorizes BFSB to report and/or include the names of the Cardholder as well as the supplementary in negative listings of any credit information bureau or institution.
13. SOLIDARY LIABILITY – The Cardholder’s spouse shall be jointly and severally liable for all the availments, advances and charges made by the Cardholder using the CARD.
14. SURETY – The Cardholder’s spouse who is a supplementary cardholder shall automatically become a surety who shall be jointly and severally liable with the Cardholder herein and in all renewals hereof. Notwithstanding the foregoing and at BPI’s request, the Cardholder shall furnish surety(ies) acceptable to BFSB who shall be jointly and severally liable with the Cardholder and/or the Cardholder’s supplementary to pay BFSB all the obligations and charges herein and in all renewals hereof, incurred through the CARD and the supplementary CARD(s). In the event the surety(ies) furnished by the Cardholder are discharged, if required by BFSB, the Cardholder must furnish new surety(ies) acceptable to BFSB within thirty (30) calendar days from discharge. Failure to do so shall constitute prima facie evidence of intent to defraud on the part of Cardholder and the Cardholder’s privileges shall be automatically terminated. It is agreed that the surety(ies) can be discharged by BFSB only when all TOB have been fully paid.
15. TERMINATION BY BFSB – In the event (i) Cardholder fails to comply with any of the terms and conditions governing the use of the CARD, or (ii) Cardholder fails to observe any of the terms and conditions of any loan document or agreement which the Cardholder executed in connection with any loan and/or credit facilities granted by BFSB or any member of the BPI Group of Companies (BGC) or any of its subsidiaries or affiliates, or (iii) the Credit Limit shall be exceeded, or (iv) the Cardholder fails to renew the CARD for any reason,, or (v) the CARD is not renewed by BFSB, or (vi) Cardholder dies or is separated from employment, or (vii) Cardholder becomes bankrupt, insolvent, or undergoes receivership, or his/her property(ies) is/are levied on execution, garnished or attached, or (viii) Cardholder is convicted for a criminal offense with final judgment carrying with it the penalty of civil interdiction, or (ix) any of the cases covered by Article 1198 of the New Civil Code (however evidenced) occur, or (x) Cardholder is charged with, convicted of or under investigation by competent government authority for violation of Republic Act 8484 otherwise known as the "Access Devices Regulation Act of 1998", the right to use the CARD as well as supplementary CARD(s) shall forthwith terminate and the aggregate unpaid TOB of the Cardholder and his/her supplementary for which Cardholder is liable shall immediately become due and demandable, without the necessity of demand, which Cardholder waives.
16. NOTIFICATION PRIOR ENDORSEMENT OF ACCOUNT TO A COLLECTION AGENCY/LAW OFFICE – Cardholder shall be notified in writing by BFSB of the name and contact details of the Collection Agency/Law Office at least seven (7) days prior to the actual endorsement of the Cardholder's account to the Collection Agency/Law Office. Written notification shall be sent/delivered to the latest reported mailing address and/or electronic mail address.
17. CANCELLATION/TERMINATION BY CARDHOLDER – Cancellation of the CARD must be done in writing subject to the immediate payment or settlement of the TOB and surrender of the CARD. Moreover, cancellation of supplementary CARD(s) will require surrender of said CARD(s).
18. UPDATE AND CHANGE OF CONTACT DETAILS AND CARDHOLDER INFORMATION – Cardholder shall update annually or whenever required by BFSB his/her residence, office and/or mailing address and/or telephone numbers and/or electronic mail address or such other data previously indicated in the CARD application (the “Contact Details and Cardholder Information”). Cardholder shall likewise notify BFSB immediately, in writing, of any change in Contact Details and Cardholder Information. Should the Cardholder prefer to receive the monthly SOA, the SOA, including renewal/replacement cards plus all other correspondences related thereto, shall be sent to the latest reported mailing address and/or email address of the Cardholder and delivery of the same at the Cardholder’s latest reported mailing address and/or email address shall be effective and conclusively deemed to be sufficient receipt of said notices.
19. CHANGE OF STATUS – BFSB shall be notified in writing of any change in civil status of the Cardholder.
20. LIMITATION OF LIABILITY – In the event of any action which the Cardholder may file against BFSB for any cause whatsoever, Cardholder agrees that BPI's liability, if any, shall not exceed the amount of Pesos: Three Thousand (P3,000.00) or the damages actually proven to have been suffered by the Cardholder, whichever is lesser.
21. AMENDMENTS – BFSB may, at any time and for whatever reason it may deem proper, amend, revise or modify these Terms and Conditions, including the Cardholder's Credit Limit, and any such amendment shall bind the Cardholder upon notice (personal, by publication or otherwise) or on the date of effectivity as specified in the notice, whichever is earlier, unless the Cardholder objects thereto, by manifesting his/her intention to terminate his/her membership in writing and surrendering his/her CARD within fifteen (15) calendar days from notice of amendment, without prejudice to his/her payment of any outstanding obligations to BFSB. Failure to notify BFSB of Cardholder’s intention to terminate his/her membership shall be construed as acceptance by the Cardholder of the amendments to these Terms and Conditions.
22. SEPARABILITY CLAUSE – The enforceability and validity of these Terms and Conditions, in whole or in part, shall not be affected by the unenforceability or invalidity, whether temporary or permanent, of any particular provision hereof because of restrictive laws, regulations, or judicial or administrative determinations obtained during any period hereof or for any other cause.
23. NON-WAIVER OF RIGHTS – No failure or delay on the part of BFSB in exercising any right or power hereunder shall operate as a waiver thereof nor shall any partial or single exercise of any such right or power preclude any other right or power thereunder. No waiver by BPI of any of its rights or powers herein shall be deemed to have been made unless expressed in writing and signed by its duly authorized representative(s).
24. ASSIGNMENT/TRANSFER OF RIGHTS – All rights and interests of BFSB under this Agreement may be assigned or transferred by BFSB without the consent of the Cardholder, his/her supplementary or surety(ies), if any.
25. CONSENT TO PROCESSING AND DISCLOSURE OF INFORMATION. BFSB will keep information relating or pertaining to the Cardholder including, but not limited to, any information on his/her accounts, transactions, deposit accounts, credit relationships, and/or credit facilities (the “Information”) confidential except that for purposes of these Terms and Conditions and in connection with BFSB’s (i) implementation, administration, facilitation and enhancements of its products, services, facilities and channels, (ii) pursuit of its marketing, promotional, communication, commercial and research objectives, (iii) regular conduct of business, and/or (iii) compliance with the requirements of applicable laws and/or government regulators or supervisory bodies, the Cardholder gives his/her consent to BFSB’s, its directors, officers, employees, advisers, auditors, agents and representatives’ (collectively, the “Bank”)?:
a) collection, use, storage, consolidation and processing (collectively, “process” or “processing”) of Information;
b) outsourcing of the processing of Information to service providers, whether within or outside the Philippines;
c) verification or validation of Information from any and all sources and in any reasonable manner, including but not limited to:
i. the Bureau of Internal Revenue (BIR) to establish the authenticity of Cardholder’s income tax return ("ITR") and the accompanying financial statements which Cardholder (may have) submitted to the Bank; and
ii. courts or government or administrative agencies or arbitral tribunals on the status of any case or proceeding to which the Cardholder is a party.
d) disclosure and sharing of Information to:
i. BPI and to BPI and BFSB’ respective subsidiaries, affiliates and related interests (the "BPI Group of Companies");
ii. credit information or investigation companies, credit bureaus (including, but not limited to, the Credit Information Corporation (CIC) pursuant to Republic Act No. 9510 and its implementing rules and regulations), financial institutions, consumer reporting or reference agencies, credit protection provider or guarantee institutions, brokers, insurers, underwriters ;
iii. any judicial, governmental, supervisory, regulatory or equivalent body of the Philippines or other jurisdictions; such person or entity as required by the laws or regulations of any country with jurisdiction over the affairs or business of the Bank or any member of the BPI Group of Companies; stock exchange on which the shares or other securities of BFSB or BPI or any member of the BPI Group of Companies are listed pursuant to its rules;
iv. any potential transferee or assignee of the Bank’s rights and/or obligations under the relevant contracts or agreements;
v. service providers engaged by the Bank or by any member of the BPI Group of Companies, marketing, promotional, network, loyalty program and joint venture partners and other relevant external parties, whether based within or outside the Philippines ( collectively, the “Relevant Parties” ); and,
vi. such other persons or entities that the Bank or any member of the BPI Group of Companies, may deem necessary or appropriate to facilitate the above-stated purposes or those that may relate to or arise there from, as and when required by the circumstances.
The foregoing constitutes the express consent of the Cardholder under the applicable confidentiality and data privacy laws of the Philippines and other jurisdiction and agree to hold the Bank, each member of the BPI Group of Companies and the Relevant Parties, free and harmless from any and all liabilities, claims, damages and suits of whatever kind and nature, that may arise in connection with the implementation and compliance with the authorization conferred by the Cardholder hereunder.
The foregoing consent shall continue for the duration of, and shall survive the termination of, the use of the CARD.
26. SUBMISSION OF INCOME DOCUMENTS – Before issuance of the CARD or upon renewal or extension thereof or whenever required during the CARD’s effectivity, the Cardholder agrees to submit income documents such as, but not limited to, payslips for at least three (3) months immediately preceding the date of CARD application, or Employer's Certificate of Compensation Payment/Tax Withheld (BIR Form 2316), or Income Tax Return (ITR) and financial statements (if engaged in business) and other relevant documents (collectively the "Income Documents"). Further, the Cardholder agrees to provide his/her TIN upon request of BFSB. The Cardholder hereby irrevocably authorizes BFSB to conduct random verification with his/her employer or the BIR to establish authenticity of the Income Documents. For this purpose, the Cardholder authorizes his/her employer or the BIR to disclose any information relevant to said verification and to give copies of his/her Income Documents to BFSB. Cardholder likewise waives any rights of confidentiality on Cardholder information in such Income Documents.
27. COMPLIANCE – The Cardholder agrees to fully comply and abide by (i) the terms and conditions governing the use of the CARD, (ii) laws, statutes and regulations and BSP Circulars relevant to credit cards and credit accommodations and (iii) the provisions of Republic Act 8484 governing the use of the credit card and other access devices in commercial transactions.
28. CONTACTLESS PAYMENTS. The CARD issued to the CARDHOLDER may have a contactless feature which may be used by tapping or waving the CARD against an applicable contactless Point-Of-Sale (POS) terminal. Contactless transactions shall not require any signature, PIN, or other authentication on the part of the CARDHOLDER for transactions not exceeding two thousand Philippine pesos (Php2, 000.00) or such other transaction amount as BPI and Mastercard or Visa may set from time to time.
29. GOVERNING LAW AND VENUE OF ACTION. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Venue of all suits directly or indirectly arising from the relationship between the parties herein shall be in the proper courts of the City of Makati or in other courts at the option of BFSB.
30. OTHER TERMS AND CONDITIONS – The terms and conditions, reminders and other provisions contained in the CARD, the SOA and eSOA, Installment Plan Contract, charge slips, Suretyship Agreements, CARD carrier and such other card documents, related instruments or documents, as well as the BPI Terms and Conditions governing PRODUCTS, SERVICES, FACILITIES, AND CHANNELS, are made integral parts hereof by reference and shall likewise be resorted to in instances where they are applicable. It is agreed that these Terms and Conditions, as well as the aforementioned terms and conditions, including reminders, rules and regulations promulgated by BFSB from time to time (the "Other Terms and Conditions") constitute the agreement between BFSB and the Cardholder and shall govern the use of the CARD and the supplementary CARD(s) issued hereunder. Any alteration, amendment, exception, reservation or scribbling herein made by the Cardholder or in the Other Terms and Conditions, not duly approved in accordance with BPI’s appropriate procedures, shall not be valid and binding upon BFSB.
The Cardholder and the supplementary’s signature on the Card and the supplementary CARD, respectively, or their respective use of the CARD and the supplementary CARD, constitutes Cardholder's and the supplementary’s agreement to, and acceptance of, these Terms and Conditions well as the Other Terms and Conditions.
Updated as of January 2018