1. GENERAL PROVISIONS:

1.1 DEFINITIONS

• Cebuana Lhuillier 24K Card (or “24k Card”) – a valid and unexpired rewards card issued by a Cebuana Lhuillier Pawnshop or Cebuana Lhuillier Pera Padala outlet to qualified clients who become entitled to exclusive privileges, discounts, freebies, and special service offerings. It is nontransferable and must be presented only by bonafide cardholders.
• Cebuana Lhuillier Pawnshop (or “Cash Agent”) – is the accredited 3rd party service provider of the CLB.
• Cebuana Lhuillier Bank (“CLB” or the “Bank”) – A rural bank duly registered with the Bangko Sentral ng Pilipinas(BSP) and licensed as an Electronic Banking and Electronic Money Issuer.
• e-Money Account – An account that stores Philippine Peso (Php) value which resides in the eMoney system. It may be linked to the Account Holder’s electronic device such as mobile phone and which may be evidenced by a physical 24k Card or other proprietary card that may be issued by CLB.
• Know Your Customer (KYC) – is a process to establish the full identity of individuals looking to transact with a financial firm, which is usually done by requiring identification cards from a client as required by the Bangko Sentral ng Pilipinas (BSP).
• Micro Savings Account – This refers to an interest bearing deposit account which is anchored under BSP’s Basic Deposit Account. The Bank has the right to automatically convert any Micro Savings Account that will exceed the maximum balance (Php50,000.00) set by BSP to a Regular Deposit Account. Any account that will be converted to a regular savings account shall bear the features and fees of the regular savings account which includes but not limited to: (1) required maintaining balance (2) dormancy period (3) required balance to earn interest (4) falling below maintaining balance fee (5) dormancy fee.
• Personal Identification Number(PIN) – A personalized digit/ access code known to the account holder only, that is used to access the account and make an authenticated transaction.

1.2 THE AGREEMENT – This Agreement governs the relationship between the Client and the Bank. The Bank may enact, modify or amend these terms and conditions, from time to time, as are customary in the conduct of the banking business or are in its judgment necessary for the protection of the Client and the Bank.

1.3 CLIENT INFORMATION –The Client hereby warrants that all information pertaining to his/her identity and personal circumstances are true and correct. The Client hereby allows the Bank to verify said information. Further, the Client confirms, declares and acknowledges that the mobile phone number and electronic-mail address provided to CLB are owned/under the control of the Client and that, any communication/ announcement made by the Bank to the mobile phone number and electronic mail address will be the primary form of communicating any announcement. Any feedback or communication from the said mobile number and/or e-mail address shall be automatically treated by CLB to be directly coming from the Client, unless otherwise advised in writing. The Clientshall, when there are changes to information previously provided and/or whenever required by the Bank, update information provided during account opening, such as address, mobile phone number and email address and shall notify the Bank immediately, in writing, of any change in his/her contact details and information. The Bank shall hold these details as true and complete in the event that no update is given unless otherwise advised in writing.

1.4 RECORD OF TRANSACTIONS – The Client is responsible for verifying the Deposit Transaction and/ or e-Money transaction history details and records to make sure that there are no unauthorized transactions. The Client should likewise review and reconcile transaction records/details for any errors or unauthorized transactions promptly and thoroughly.

1.5 ACCOUNT AND CARD SECURITY – The Client shall be responsible for the security of his/her 24K Card or other proprietary card that may be issued by CLB and for the maintenance of his/her PIN and/or online password. The Client acknowledges that his/her PIN and/or password are known only by him/her, and not by anyone else, nor by the Bank or the Cash Agent. The Client shall be responsible for all transactions processed through the use of the 24K Card (or other proprietary card issued by the Bank) and the PIN and/or password whether or not the transactions were made with the Client’s knowledge or authority. The Client shall hold the Bank, the Cash Agent, its officers and employees free and harmless from any and all losses, damages, or liabilities incurred or suffered in connection with the Client’s disclosure of his/her PIN and/or password. In case the 24K Card or other proprietary card is lost, stolen or destroyed, the Client agrees to immediately notify the Bank by calling Cebuana CARES Hotlines of such loss within twenty-four (24) hours, via telephone from 9am-6pm, Monday to Sunday or submit a written report to any Cebuana Lhuillier branch. All activities and transactions made thru the use of the 24K Card or other proprietary card prior to the report of the loss shall continue to be the liability of the Client.

1.6 REFERENCE NUMBER – Each successful transaction shall be evidenced by a system-generated Reference Number, which shall be transmitted to the Client’s enrolled mobile number, e-mail address or validation form, whichever is applicable, for records purposes.

1.7 TRANSACTION DATE – The Bank will effect the Client’s transactions provided there are sufficient cash value available in the Client’s deposit or emoney account. It is the responsibility of the Client to ensure that sufficient cash or cash value are available in the Client’s deposit or e-money account at all times to cover any of the transactions, immediate or scheduled, and that the 24k Card or other proprietary card is active. Any charges or penalties as a result of an unsuccessful transaction due to insufficiency of cash or cash value or cancelled card will be the sole responsibility of the Client and shall be for the account of the Client.

1.8 ACTIVATION AND DE-ACTIVATION OF DEPOSIT / E-MONEY ACCOUNT FEATURES – CLB reserves the right to add, discontinue or deactivate features or functions upon sixty (60) calendar days notice to the Client (personal or by publication, through posting in the Bank’s website or the Bank’s or Cash Agent’s premises).

1.9 CLOSING/SUSPENSION OF ACCOUNT/CARD – The Client may request CLB to terminate or suspend the Deposit/e-Money account by submitting a written request to the Cebuana CARES or any Cebuana Lhuillier Pawnshop branches. The Bank shall process the request within fifteen (15) calendar days upon receipt. The Client shall remain responsible for any transactions made on the account until the time of termination or suspension of the use of the card. The Bank also reserves the right to terminate or suspend the Client’s use of the card or close the account at any time with or without prior notice, and in any of the following instances: a) discovery of any form of fraud; b) violation of any of the provisions of the terms and conditions and rules and regulations of CLB supplementary thereto; and c) other grounds warranted by law. The Bank is authorized to report such termination, suspension or closure to the BSP or to any monitoring body of the BSP. The Client shall hold the Bank, its directors, officers and employees free and harmless from all liabilities, claims and demands arising from the above actions of the Bank.

1.10 DISPUTES ON TRANSACTIONS – The details in the Deposit/e-Money Account’s transaction records are presumed true and correct unless the Client notifies the Bank thru Cebuana CARES in writing of any disputes thereon within fifteen (15) calendar days from the date of transaction. If no dispute is reported within said period, all transaction details and records are deemed true and correct. Disputed transactions shall only be adjusted once the claim/dispute has been properly processed, investigated, and proven to be in favor of the Client.

1.11 EXCLUSIONFROM LIABILITY – CLB makes no warranty, express or implied, regarding the performance of this Agreement or the electronic banking functionalities or other services offered hereunder. CLB electronic banking service is offered on an “asis” or “as available” basis without warranties of any kind, except those required by law and other rules and regulation issued by pertinent government agencies. CLB further makes no warranty (1) asto the content, quality or accuracy of data or information provided by CLB hereunder or received or transmitted using the electronic banking channels; (2) asto any service or product obtained using the electronic banking service; (3) that the electronic banking service will be uninterrupted or error-free; or (4) that any particular result or information will be obtained. CLB shall not be liable for any loss, added cost, compensation, damage or liability that the Client may incur as a result of any delay, interruption or termination of the electronic banking transaction whether caused by administrative error, technical, mechanical, electrical or electronic malfunction or any cause beyond CLB’s control (including but not limited to acts of God, labor disputes, failure of communication lines, interconnection problems, mobile phone signal/reception problems, interference or damage by third parties).

1.12 LIMITATION OF LIABILITY – Subject to the provisions herein, if CLB is found liable for any act or omission for any reason whatsoever, the liability of CLB shall be limited to the amount of the relevant transaction or actual damages to the Client, whichever is lesser. CLB shall not be liable to the Client for any indirect, special, exemplary, punitive or consequential loss or damages arising from the use of 24k Card or other proprietary card, including but not limited to lost opportunities or profit.

1.13 ANTI-MONEY LAUNDERING – The Client warrants that he/she is aware of the provision of R.A. No. 9160 (Anti-Money Laundering Act of 2001) and acknowledgesthat his/her account is subject to the provisions of R.A. No. 9160, including any and all amendments, rules or regulations pertaining thereto. The Client hereby agrees to keep the Bank, its directors, officers and employees free and harmless from any and all liabilities for any action taken in compliance therewith.

1.14 DATA PRIVACY – The Bank is committed to respecting and protecting data privacy rights of the Client as a data subject in accordance with R.A. 10173 (“Data Privacy Law of 2012”), its Implementing Rules and Regulations and other applicable laws of the Republic of the Philippines. In the course of providing services to the Client, CLB and the Cash Agent may collect information (including personal information) relating to the Client, including the transactions, accounts, account information or records. For this purpose:

• The Client agrees that he/she will receive transaction notifications, and be regularly updated by the Bank and its subsidiaries and affiliates (hereinafter, “P.J. Lhuillier Group”) of their products and services, and thus understand fully that his/her foregoing information will accordingly be shared.
• The Client understands that the information collected, to be processed and retained shall be for the following purposes: client identification; profiling; direct marketing and cross-selling of products; and compliance to BSP rules, AMLA and such other purposes that may be required or allowed by law. The Client has been informed that he/she have the option not to give the foregoing information, in which case he/she understands that his/her transaction will not be processed. The client has also been informed that he/she can make corrections to any inaccurate or deficient information and have the option to withdraw his/her consent prior to the processing of his/her transaction by emailing Cebuana Lhuillier at [email protected] or calling Telephone Numbers +632 8779-9800 PLDT/ +632 77599800 GLOBELINES.
• Any Concerns about Data Privacy can be reported by the Client to [email protected]. Client is encouraged to visit https://privacy.gov.ph to know more about R.A. 10173.
• The Client hereby certifies that the information provided to the Bank are freely and voluntarily given and are true and correct to the best of his/her knowledge. Further, the Client hereby authorizes the Bank and the P.J. Lhuillier Group to disclose to its partners, agents or other clients his/her above information to aid in any and all investigations that may be initiated on account of, or in relation to any concerns that may arise out of this transaction.

1.15 DISCLOSURE OF INFORMATION – The Client acknowledges that the Philippine government, United States government and governments of other foreign jurisdictions where transactions pertaining to his/her account may transpire, may require the Bank, its branches and agencies, and the P.J. Lhuillier Group to disclose or produce information concerning his/her account. Forthis purpose, the Client hereby waives his/her rights under R.A. 1405 (Law on Secrecy of Bank Deposits), R.A. 6426 (Foreign Currency Deposit Act of the Philippines), R.A. 8791 (General Banking Law of 2000), or any other pertinent law or regulation, as the same may be amended from time to time, and hereby authorizes the Bank, its branches and agencies, and all of the Bank’s subsidiaries or affiliates, without prior notice to the Client, to make any and all disclosure of information regarding the account as may be required. The Client hereby holds the Bank, its directors, officers, employees and other duly authorized representatives free and harmless against any and all liability arising from any loss or damage which the Client may incur or suffer as a result of such disclosure.

1.16 CONSENT TO SHARE INFORMATION – For the purposes of (a) sales and marketing activities, cross-referencing, status inquiry, cross-selling or the offering of the various products and services of the Bank and the P.J. Lhuillier Group, including but not limited to, credit opinion and evaluation by and for an entity belonging to the P.J. Lhuillier Group, or application for insurance products with an insurance company within P.J. Lhuillier Group; (b) compliance with legal, regulatory or other contractual obligations of the Bank; and (c) providing efficient services, the Client hereby give sits consent to, and authorizes the Bank to process, obtain, collect, record, organize, store, update, modify, use, access and/or share/disclose within the P.J. Lhuillier Group and third party service providers, with corresponding duty to keep such information confidential, without prior notice to the Client, relevant account information/data/opinion pertaining to the Client, including but not limited to personal circumstances, privileged information, sensitive personal information, account opening, account balances, transaction history, promo subscription, redemption records and any and all other information pertaining to all account/s now existing or which may hereafter to be opened, which authorization shall constitute a consent and shall exempt the Bank and/or the P.J. Lhuillier Group from liability under any and all bank deposit secrecy laws, including but not limited to, R.A. 1405 or The Law on Secrecy of Bank Deposits, R.A. 6426 or The Foreign Currency Deposit Act and R.A. 8791 or The General Banking Law, as well as R.A. 10173 or the Data Privacy Act of 2012 and other confidentiality laws enforced or which may hereinafter enforced. The absence of any written notice to the contrary shall be deemed by the Bank as the Client’s continuing consent. under the bank secrecy, privacy and confidentiality laws, as above mentioned. The Client shall notify the branch in writing if he /she wishes to withdraw the consent to the sharing of information provided herein.

2. FOR E-MONEY ACCOUNT:

2.1 PRODUCT FEATURES/ TRANSACTIONS – The 24K Card, as an e-Money instrument, is re-loadable. The e-Money may only be redeemed at face value. It shall not earn interest or rewards and other similar incentives convertible to cash, nor be purchased at a discount. Further, e-Money is not considered a deposit account hence, it is not insured with the Philippine Deposit Insurance Corporation (PDIC). The e-Money is subject to aggregate monthly load limit of One Hundred Thousand Pesos (Php100,000.00) unless a higher amount has been approved by the Bangko Sentral ng Pilipinas (BSP).

2.2 FEES, RATES AND OTHER CHARGES – The Client agrees to pay applicable fees and charges related to the e-Money Account linked to a 24K Card or proprietary card that may be issued by the Bank and its use, such as but not limited to, remittance, processing, load and encashment fees. Such fees and or chargesshall be inclusive of Philippine taxes and shall be debited from the e-Money cash value or paid upfront without further notice. Applicable fees may be found at the Bank’s website www.cebuanalhuillierbank.com.

3. FOR MICRO SAVINGSACCOUNT:

3.1 AVERAGE DAILY BALANCE (ADB) – For Micro Savings Account (MSA), the client agrees that the ADB shall not exceed Fifty Thousand Pesos (Php 50,000.00).

3.2 PRODUCT FEATURES/TRANSACTIONS – The 24k Card, as a Micro Savings Instrument, is an interest bearing deposit account which is linked to the Cebuana customer’s 24k Card Plus or 4C Card. Micro Savings is a product of CLB. The Client agrees that no deposit and/or withdrawal shall be made in the absence of the 24K Card or proprietary card issued by CLB. It is insured with the Philippine Deposit Insurance Corporation (PDIC).

3.3 FEES, RATES AND OTHER CHARGES – The Client agrees to pay applicable fees and charges related to Micro Savings and other deposit accounts which may or may not be linked to 24K Card or other proprietary card issued by CLB and its use, such as but not limited to withdrawal. Such fees and or charges shall be inclusive of Philippine taxes and shall be debited from the Depositor’s account or paid upfront without further notice. Applicable fees may be found at the Bank’s website www.cebuanalhuillierbank.com.

4. UPGRADING OF ACCOUNT:

4.1 The MSA that exceeds Php 50,000.00 maximum average outstanding balance (ADB) shall be converted to Cebuana Savings Account (CSA). The conversion from MSA to CSA shall be done five (5) days after the end of each quarter. This shall be automatically computed at the end of every quarter and the account upgrade shall be processed five (5) days after the end of said quarter. Thank you letters will be sent to all upgraded accounts.

4.2 The Upgraded Accounts (CSA) require a maintaining balance of One Thousand Pesos (Php 1,000.00). A charge of Two Hundred Pesos (Php 200.00) will be imposed if the account balance falls below the specified maintaining balance. The Client acknowledge the responsibilities to pay/settle applicable fees and charges related to Cebuana Savings and other deposit accounts which may or may not be linked to 24K Card or other proprietary card issued by CLB and its use, such as but not limited to withdrawal. Such fees and or charges shall be inclusive of Philippine taxes and shall be debited from the Depositor’s account or paid upfront without further notice. Applicable fees may be found at the Bank’s website www.cebuanalhuillierbank.com.

5. INTEREST
The interest rate on Savings Deposit shall be computed on the basis of average daily balance provided the required minimum balance for the day, if there is any interest earned shall be credited on a monthly basis. A twenty percent (20%) withholding tax shall be withheld and deducted by the Bank from the interest income on savings deposit (P.D. 1994).

6. DORMANT ACCOUNT:

6.1 Account shall be considered dormant if it becomes inactive (no deposits or withdrawals) except for posting of interest for a period of two (2) years. No transaction shall be allowed for a dormant account until the same is reactivated.

6.2 Depositor will be notified sixty (60) days prior to change of account status from active to dormant. CLB shall impose a monthly service dormancy fee amounting to Php 30.00 on a dormant deposit account two (2) years after the last activity provided that the account falls below the minimum monthly Average Daily Balance.

6.3 Dormancy fee will only be applied to CSA account holders since there is no maintaining balance required under MSA.

6.4 Pursuant to the provision of existing laws, all “unclaimed balances” which represent deposits of money and/or interest accrued thereon held by CLB for any Account holder who has remained dormant – no further financial transactions – for a period of ten (10) years or more shall be reported and, when so ordered, deposited by CLB to the Treasury of the Philippines, to the credit of the government of the Republic of the Philippines.

6.5 Dormant account shall not earn any interest while the account remains dormant. Interest accrual shall start only when the account is reactivated.

6.6 The Client may reactivate a dormant account through any CLB branch upon submission of fully accomplished set of KYC documents and presentation of valid identification required by CLB.

6.7 The dormant account must have a financial transaction either deposit or withdrawal from the account for successful reactivation.

7. MISCELLANOUS PROVISIONS –

7.1 CLIENT SUPPORT – The Bank is regulated by the Bangko Sentral ng Pilipinas (BSP). For any issues, concerns, clarifications, complaints or inquiries, the Client may contact the Bank through Cebuana CARES Hotlines via the following:

7.2 AMENDMENTS – The Bank, may at any time and for reasons it may deem proper, amend, revise or modify these Terms and Conditions. Any such amendment, revision or modification shall bind the Client upon notice (personal or by publication, through posting in the Bank’s website or the Bank’s or Cash Agent’s premises). If the Client does not agree with the new/revised terms and conditions, he/she shall notify the Bank to terminate the agreement within thirty (30) days from receipt of the individual notice or thirty (30) days from issuance of public notice. Failure to notify the Bank within the prescribed period shall be construed as acceptance by the Client of any such amendments, revisions or modifications.

7.3 NOTICE – All communications and notices required to be given to the Client shall be transmitted by SMS and/or electronic mail to his mobile cellphone number and/or email address appearing in the Account Opening documents or at such other mobile phone number and/or email address that may hereafter be given in writing by the Client to the Bank.

7.4 BINDING EFFECT – These Terms and Conditions are binding on the Client and his/her heirs, executors, administrators and assigns.

7.5 GOVERNING LAW – These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Any dispute arising hereunder shall be submitted to the exclusive jurisdiction of the proper courts of Bacoor, Cavite.