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Governing Terms. By opening or maintaining accounts in RCBC, availing of RCBC’s products and services, or using any of RCBC’s facilities and channels (collectively, “Accounts”), CLIENT agrees to be bound by these General Provisions and the applicable terms and conditions (“Parts”). Each Part of these General Terms and Conditions, other than these General Provisions, sets forth the terms and conditions that apply specifically to certain types of Account and CLIENTS which may be different than, or in addition to, these General Provisions. In the event of inconsistencies between the terms of any Part and these General Provisions, the Part shall take precedence. RCBC reserves the right to amend or supplement these General Terms and Conditions upon notice to CLIENT in accordance with Section 40 (Notices and Communications). CLIENT shall be deemed to have accepted such modified terms and conditions if CLIENT continues to maintain and use the Accounts. Accounts shall be further governed by applicable laws and regulations of the Republic of the Philippines and RCBC’s policies and procedures.
Account Opening and Maintenance; CLIENT Information; Disclosure and Transparency. Subject to RCBC’s approval and verification of CLIENT’s identity and legal capacity, Accounts may be opened upon the submission of all information and documents requested by RCBC and completing RCBC’s prescribed Account opening or registration procedure.
CLIENT shall provide all information and documents required by RCBC for opening, maintaining, or using an Account; for initiating or authorizing transactions on an Account; or executing or implementing any contract or agreement with RCBC. All such information, as well as device and browsing information (such as, but not limited to, device ID, browsing information such as name and version, Internet Protocol (“IP”) address, internet connectivity data, operator and carrier data, login data, browser type and version, device type category and model, language data, time zone setting and location data, application version, browser plug-in types and versions, operating system and platform, other information stored on or available regarding the devices you allow us access to when you use our products/services), and any other instruction, correspondence, or communication that RCBC may receive from CLIENT shall be henceforth referred to as “CLIENT Information”. CLIENT represents, warrants, and guarantees that all CLIENT Information are authentic, contain accurate and current information, and have not been cancelled or revoked. CLIENT shall promptly notify RCBC of any changes in CLIENT Information.
RCBC may review, validate, and/or verify any or all of CLIENT Information from time to time or as and where required by applicable law and regulations. CLIENT shall provide all reasonable assistance and cooperation that RCBC may request. Pending such review, validation, or verification, RCBC may, upon notice, limit CLIENT’s access to any or all Accounts.
CLIENT understands that the submission of any false, forged, misleading, or fraudulent CLIENT Information to RCBC shall be deemed a material breach of these terms and conditions presented or submitted by CLIENT to RCBC for account opening and/or his/her Transactions, CLIENT acknowledges that RCBC has the right to confiscate the same from CLIENT and shall not hold RCBC liable for not returning the forged and/or fraudulent documents. CLIENT hereby acknowledges that RCBC's verification of any document and its acceptance thereof for account opening or for any other transaction with it is not considered by CLIENT as RCBC's attestation to or confirmation of the authenticity of any such document.
During the pre-contractual stage, the CLIENT shall be provided appropriate and sufficient disclosure as well as time to review the Account. All information related to fees, charges, interest, as well as the standard terms and conditions of any Account shall be disclosed to and be easily accessible to the CLIENT through various kinds of communication channels including all digital channels. This information related to the Account shall also be available to the public through printed materials, mass media websites or digital platforms and which should be clear, concise, accurate, understandable and not misleading.
For cases of Personal Loans, and consumer loan products and Cards granted by RCBC but the application for which is rejected or disputed by the CLIENT, the CLIENT may report the incident via email to customer-care@rcbc.com or through the Customer Service Hotline number in Section 40 (Notices and Communications). The CLIENT may refuse the sharing of his/her information to third parties, or request to delete retained information, or opt out on offers for other services.
Authorization of Account Transactions. RCBC shall process transactions upon CLIENT’s authorization. For this purpose, RCBC may, from time to time, request CLIENT to provide specimen signatures (which may include digitized or electronic signatures) and/or biometric information, which CLIENT shall promptly provide. For the avoidance of doubt, specimen
Signatures and biometric information are CLIENT Information. “Biometric information” shall mean any physical or behavioral characteristics that may be used to verify identity, such as, but not limited to, handprints or fingerprints, retina and iris prints, facial features, or voice prints. CLIENT agrees that: (a) the words “signature”, “security information”, or “password” in these terms and conditions shall refer to specimen signatures and biometric information, as applicable to the relevant Account or transaction; (b) RCBC shall be entitled to rely upon such specimen signatures and/or biometric information in verifying any transaction on the Accounts; (c) any transaction verified by RCBC through CLIENT’s specimen signatures and/or biometric information shall be deemed to have been authorized by CLIENT.
Deposit Acceptance. RCBC may accept deposits in cash, check, or similar instruments. All deposit transactions shall be made using RCBC’s prescribed form and are subject to RCBC’s counting and verification. CLIENT shall be responsible for the correctness, genuineness and validity of all items, including all signatures and endorsements appearing on any checks or similar instruments, deposited by CLIENT in RCBC.
Check Deposits. Where the item deposited is a check or similar instrument, CLIENT agrees that such deposits are accepted by RCBC for collection only. CLIENT’s receipt of the amounts indicated in such check or instrument shall be subject to RCBC’s actual receipt of such amount from the drawer, issuer, or payor institution (as applicable). No withdrawals shall be allowed against uncollected deposits.
For checks and instruments that require transmission to a payor institution, CLIENT authorizes RCBC to transmit and process such items in accordance with the relevant rules of the Philippine Clearing House Corporation (PCHC) or under existing collection arrangements with correspondent banks, in case of foreign-currency denominated instruments.
Checks drawn against banks in the United States of America are subject to U.S. Check 21 regulations. In case of dishonor of any such checks, RCBC has the right to provide the CLIENT a substitute check or an electronic image of the deposited returned check in lieu of the original thereof.
Altered, Incomplete, Stale, Post-dated, and Second-endorsed Checks. RCBC may refuse acceptance of any check or instrument that bears any alterations, erasures or deficiencies; checks dated more than one hundred eighty (180) days before the date of its presentation to RCBC (“stale checks”); checks dated after the date of its presentation to RCBC (“post-dated checks”); checks payable to person(s) other than CLIENT (“second-endorsed checks”).
CLIENT agrees to refrain from issuing post-dated checks or from depositing to or negotiating post-dated checks in or through any Accounts. If through inadvertence, RCBC honors or pays out a post-dated check issued by CLIENT, or dishonors a check issued by CLIENT for any reason other than it being postdated, or negotiates a post-dated check issued by CLIENT, CLIENT shall hold RCBC free and harmless from claims resulting therefrom and CLIENT shall answer for all charges or liabilities that RCBC may incur arising from any Post-dated Check of CLIENT. In exceptional cases where RCBC accepts a secondendorsed check deposited by CLIENT, CLIENT warrants to RCBC: (i) the genuineness and validity of all endorsements appearing on such check and (ii) that CLIENT is entitled to deposit and receive the proceeds of such check, whether or not such check bears CLIENT’s or the original and/or prior payee(s)’ endorse. If any such checks are subsequently found to contain any false information, forged signatures, or unauthorized endorsements, CLIENT shall be deemed to be in breach of these terms and conditions. Furthermore, CLIENT hereby authorizes RCBC, upon its receipt of the Affidavit of the payee of a second-endorsed check affirming the forgery of the payee's endorsement or lack of payee's authorization for another party to negotiate the check, to debit from the Accounts such amount/s as shall be sufficient to answer for all sums that may be claimed against RCBC arising from its acceptance of Second-endorsed Check/s from CLIENT. Also, the CLIENT authorizes to debit the Account such amount/s as shall be sufficient to answer for all sums that may be claimed against RCBC arising from its acceptance of Second-endorsed Check/s from CLIENT if: (a) RCBC receives any information that said check was falsified or otherwise issued, endorsed, or negotiated upon a forged signature or without any authority from the issuer or endorser; or (b) RCBC deems such debit as necessary to protect its interests.
Checks drawn against banks in the United States of America are subject to U.S. Check 21 regulations. In case of dishonor of any such checks, RCBC has the right to provide the CLIENT a substitute check or an electronic image of the deposited returned check in lieu of the original thereof.
Checks Drawn on CLIENT’s Accounts. CLIENT may issue or request checks, drafts, and instruments drawn against CLIENT’s Accounts, which shall be paid by RCBC in accordance with the relevant rules of the PCHC or under existing collection arrangements with correspondent banks. RCBC may refuse payment of any checks and instruments issued by CLIENT that are unfunded, insufficiently-funded, or non-compliant with the requirements of PCHC, RCBC, or the relevant correspondent bank, as applicable.
RCBC may issue checkbooks upon CLIENT’s request, subject to applicable fees, policies, and procedures. CLIENT shall exercise reasonable care in requisitioning checkbooks; confirm the correctness and completeness of such checkbooks upon receipt; and notify RCBC of any errors detected in such checkbooks. CLIENT shall likewise safeguard all unutilized checks with utmost care to preclude any unauthorized use, loss, and/or pilferage. Any lost unissued check or checkbook shall be reported immediately to RCBC. The use of Magnetic Ink Character Recognition (MICR) checks printed or secured from entities other than those accredited by the BAP Accreditation Board shall constitute a breach of these terms and conditions.
CLIENT may request RCBC for a stop payment order on any issued check within reasonable time before the payment or acceptance for payment of such check by issuing clear instructions in the form and manner prescribed by RCBC for such purpose. All requests for a stop payment order shall be subject to RCBC’s policies and procedures. At RCBC’s request, CLIENT shall provide additional documents and information where necessary to effect CLIENT's request. A stop payment order shall be effective for one (1) year only from RCBC’s date of receipt of the order, unless otherwise specified by applicable laws or regulations or RCBC policy or unless earlier canceled or further renewed by CLIENT. CLIENT shall, at all times, exercise care in handling and issuing checks to preclude possible losses.
RCBC is under no obligation to notify CLIENT, before returning to the collecting or negotiating bank [thru PCHC, Bangko Sentral ng Pilipinas (BSP) Clearing House] checks drawn on it and which cannot be accepted because of insufficiency of funds, rejection by the CICS or technical defects, e.g., post-dated, amount in words and figures differ, etc., or any other justifiable reason. Neither has RCBC any obligation to inform CLIENT about the return or dishonor by the payor institution of any check deposited or negotiated by CLIENT with RCBC. RCBC shall not be held liable for not informing CLIENT of any check returned by or returned to RCBC for whatever reason.