Terms and Conditions
INTRODUCTION
Agreement. These Terms and Conditions shall form part of the specific terms and conditions of East West Rural Bank, Inc.’s individual products and services and such other rules and regulations governing your account/s with the Bank and shall be applicable to any future account that you may open with us.
As used in the succeeding paragraphs, “we”, “our”, “us”, the “Bank”, “EWRB” and “East West Rural Bank” refer to East West Rural Bank, Inc. The terms “you” and “your” refer to every person who has an account or opens an account with East West Rural Bank.
Acceptance. In signing our relationship initiation forms, signature cards, issued cards or by using our services and facilities, you agree to be bound by these Terms and Conditions, which shall govern your relationship with us on all accounts opened and maintained and all accounts to be opened and maintained, as well as all transactions from time to time concluded with or through you.
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RELATIONSHIP INITIATION AND CUSTOMER INFORMATION
Relationship Initiation. Relationship initiation or application will be subject to our minimum customer information, minimum and maximum loan or credit amounts, initial deposit and maintaining balances and any other applicable requirement, be it for each product or service type or for the total relationship that you have with us. You understand that the extension of any Bank product or service to you is dependent on the results of any and all processes and screening requirements of each individual product or service that you are applying for and that any account opening shall be at the sole discretion of East West Rural Bank.
Customer Information Update. We, at our sole discretion, may update any and/or all your existing records with us using the latest customer information that we derive from you. Latest customer data may be received by the Bank through any of the following means: (i) application or account opening forms of any of the Bank’s products and/or services; and (ii) customer record updates received through duly signed customer information update forms, face-to-face contact, postal mail, phone, facsimile, email, internet banking and other electronic means.
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EAST WEST RURAL BANK DEPOSIT PRODUCTS AND SERVICES
Komo Savings Account. A Komo Savings Account entitles you to the following, the details of each will be discussed in the succeeding sections.
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Use of all features and services of the Komo Mobile App
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Interest-earning deposit worth 2.5% per annum
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Fund transfer (to and from your account)
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Visa debit card
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Deposit insurance
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All Komo Savings Accounts are opened only for the sole use of the individuals who had completed and passed the onboarding process. No account will be opened for those who have not completed and passed the onboarding process nor for the benefit of another person. For those who do not pass the onboarding process, we may or may not tell you the reason for the disapproval.
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How do you open a Komo Savings Account?
Collection, Verification, Storage of Personally Identifiable Information
To help in the fight against money laundering and terrorist financing, we need to collect, verify, and store information that allows us to identify each person who opens an account with Komo. For this reason, when you apply for an account, we will ask for information that will allow us to identify you.
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We will also ask for information that will allow us to determine your US Foreign Tax Residency Status.
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We will use and employ external third-party solutions and services to aid in the verification of your personal information and documents. For this reason, you will allow us to share some or all your personal information and documents with East West Rural Bank, Inc., East West Banking Corporation, and external third parties, as necessary, and still subject to our Data Privacy Policy.
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Depending on the circumstances and results of the information collection and verification, we may ask additional necessary information from you and other clarificatory questions regarding your personal information by requiring you to resubmit your details and/or proof of identification, or undergo a video call interview with our staff via the Komo app.
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All your personal information and documents that we collect, verify, process, and store, shall be in accordance with the Data Privacy Act of 2012, its implementing rules and regulations, and the issuances of the NPC.
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Minimum Requirements to Open a Komo Savings Account
For you to be able to open a Komo Savings Account, you must be an individual,at least eighteen (18) years of age, a resident and citizen of the Republic of the Philippines, have a valid Philippine mobile number, and have at least one (1) government-issued identification document.
You must provide the following personal information and documents, and any other details we may request and require from you to verify these information and documents.
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Name
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Address
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Mobile Number
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Email Address
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Date of Birth
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Citizenship
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Place of Birth
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Gender
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Marital Status
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Occupation / Nature of Work
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Source of Funds
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Face / Selfie image
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Government-issued ID
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For us to collect some of your personal information and documents, you must allow the Komo Mobile App to have access to your mobile device’s camera.
To keep your information with us relevant and up to date, you must notify or provide us with any changes to your personal information and documents, or you must allow us to require you to update such information and documents from time-to-time, as required by relevant laws and regulations.
You must declare that all personal information and documents you have submitted or will submit to us are accurate, truthful, and up to date.
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FATCA and US Foreign Tax Residency Status
You must identify yourself as a US Person defined under the FATCA if you are one, during the account opening process. If you do not identify yourself as a US Person, we will treat you as a non-US person. You are responsible for telling us accurate and truthful information about your foreign tax residency status. Any failure to accurately and truthfully inform us that you are a US person may lead to penalties under US tax law.
If you identify yourself as a US person, we may not process your application until further notice.
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If after opening an account, you become a US Person, you must notify us of the change within thirty (30) days by providing us with your US Tax Identification Number.
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Operation of the Komo account via the Mobile App
The Komo Mobile App is your main access point to your Komo Savings Account. The branches of East West Bank and East West Rural Bank may deny you of over-the-counter services regarding your Komo Savings Account, which may include the following transactions: 1) all types of deposits, 2) all types of withdrawals, 3) balance inquiries, 4) statement of account generation, among others. However, EWRB branches can help facilitate customer complaints and concerns to Komo’s customer support channels.
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Komo Debit Cards. A debit card (hereto referred as the Card) is a card linked to your deposit account with us that allows you access to your deposited funds 24/7 through withdrawals, purchases and other transactions done through the internet, ATMs or Point-of-Sale (POS) terminals, subject to the daily limits set by the Bank. You may avail of a Komo debit card subject to a fee, or we will be issuing you a Komo debit card for free if your account meets specific criteria set by the bank.
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The Card is issued for your use only, subject to these Terms and Conditions as well as the Card's security features in connection with facilities that we make available from time to time at our absolute discretion, primarily: (i) cash withdrawal and (ii) the payment for purchases of goods and/or services. The Card shall not be used for any prohibited or unlawful transactions under any applicable law.
We have the sole discretion to issue the Card, which remains our property. The Card is not transferrable, and you shall be responsible for the Card from receipt thereof. The Card shall remain valid until the last day of the month indicated thereon, unless otherwise suspended or terminated. You will immediately surrender the Card to us upon request. Unless earlier terminated or cancelled, the Card shall automatically be renewed and replaced before its expiry date. We reserve the right to collect fees from you in relation to card replacement.
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Delivery of Debit Card
The virtual Debit Card will be processed immediately upon account activation or approval while a physical debit card will be processed upon successful purchase (via debit from account or free card referral code) of said card via mobile app. Delivery will be coursed through a Bank selected courier within the Service Level Agreement (SLA) and the specified processes. Expediting of delivery is not allowed, and status of delivery can be tracked in-app. The debit card will be delivered to the address you specified upon account creation. Changes to your delivery address may result in additional delivery fees which may be charged to your account. You are required to receive the card personally. If you are not available, a representative may receive the card, but this requires an authorization letter and a copy of the ID you submitted upon account creation, as well as a copy of the valid ID of the representative. Once you receive the card, you can activate this through the mobile application upon receipt of SMS and push notification from Komo. If you fail to claim your card during the courier delivery attempts and delivery is tagged as returned to sender, you will be charged a card redelivery fee.
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Cards may be ordered through the Komo Mobile App or via Komo Customer Support if you require a replacement card. Card delivery will be via courier delivery to your latest delivery address per our records. You agree to have us debit your deposit account for the cost of the Card ordered on request date. Should the available funds in your concerned account be insufficient to cover the cost of card replacement or redelivery, we reserve the right to reject your request for debit card replacement or redelivery. You further agree that if you are to nominate a representative to claim your requested Card(s) upon delivery, the said representative should have a letter of authorization from you, together with your valid ID and that of the representative.
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You agree to hold us free and harmless from any and all claims and liabilities and undertake to reimburse/ indemnify us for all such costs, payments, damages and expenses which we may be liable for or which we may incur or have incurred by reason of our implementation of your Card delivery, provided we acted in good faith and in accordance with established policies and procedures without any negligence, fraud or other tortuous conduct on our part. You further undertake to notify us promptly in writing of any change in the conditions which give rise to your request for Card delivery.
ATM Network and International Transactions
You understand that the Card may be used in East West Bank ATMs/POS terminals and in the ATM/ POS terminals of the ATM network participants. You understand that we do not have control over the participants of the ATM network through which you may access your account/s, their ATMs and their procedures or controls regarding data/information processing. Hence, we shall not be liable for any loss or damage of whatever kind or nature that you incur as a result of or in connection with (1) your inability to use or delay in the use of your Card or inability to avail yourself of or delay in the availability of any ATM service due to disruption, breakdown or failure of the ATM or other networks, communication facilities linking the same, or (2) unauthorized or fraudulent access or utilization of your Card or any ATM service. You understand and agree that transactions coursed through any of these networks shall be subject to transaction fees as determined by us and the ATM network participants through which the transactions are coursed.
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We have existing agreements with our correspondent banks and card networks (e.g. VISA, MasterCard, etc.) abroad. This allows you to make withdrawals and/or payment transactions with the use of your Card in ATMs/POS located in other countries, from your or involving your account with us. Any withdrawal or payment transaction that you make outside the Philippines using your Card against your said account constitutes a disbursement from said account and a remittance to the country where the withdrawal or payment transaction was affected. These transactions will therefore be subject to the applicable laws, government rules and regulations of both the Philippines and the country where the withdrawal or payment transaction was made. Cash withdrawals or payment transactions outside the Philippines using your Card will be in the currency allowed by the institution that owns the ATM/ POS terminal from where the withdrawal/payment transaction was made and up to the maximum amount permitted by and subject to other limitations imposed by that institution. Cash withdrawals or payment transactions are also subject to any exchange controls, regulations or limitations in effect in the country where the ATM/POS terminal is situated and will be converted at the exchange rate in effect on a date determined by us, which may be different from the date when you perform the transaction. Transactions shall be subject to transaction fees as determined by both us and the international network through which the transaction was coursed. Such transaction fees shall also be subject to the exchange rate in effect on a date determined by us, which may be different from the date when you perform the transaction. Should there be a need to reverse a foreign currency transaction, you agree that you will be responsible for any cost and absorb any loss or gain, or charges associated with the currency exchange, and we may charge any of these costs to your account.
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We have agreements with different international credit card corporations whereby your Card bearing the logos/labels of such corporations shall be honored at all their accredited establishments worldwide at all times. However, we shall not be liable to you if, for any reason, any of their accredited establishments do not honor your Card. You agree to hold us free and harmless from any and all claims or liabilities as a result of the refusal of any accredited establishment to honor your Card.
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Komo Debit Card Expiration, Renewal, and Activation
Card Expiration. The card is valid from the date of issuance until the last day of the month indicated on the face of the card or until the expiration date communicated by the Bank, as applicable; except in the following instances: (1) if card was voluntarily cancelled or returned by the Cardholder; (2) if card was terminated by Komo prior to such date. Transactions using an expired card is not allowed.
Card Renewal. The Bank reserves the right to issue a renewal card with its corresponding applicable fees.
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Card Activation. Activation of your Card is subject to our activation policy and procedures. We reserve the right to decline your Card activation request without any obligation to disclose the reason therefore, unless required by law or regulations. You shall hold us free and harmless for any claim arising from the non-activation of your Card absent any form of bad faith, fraud or other tortuous conduct on our part.
Komo Access Codes Security
You are responsible for the care and control of the Access Codes used to access your Komo mobile app as well as the Debit Card that we issue to you. You shall treat and handle such Access Codes as "cash." You are likewise responsible for ensuring the security and confidentiality of Access Codes that allow you access to and control of your accounts maintained with us. The following are collectively termed as Access Codes:
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Account Number – a set of numbers assigned to your deposit savings account to identify it in our system(s)
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Card Number – a set of numbers assigned to identify your Card in our system(s)
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CVC or CVV – Card Verification Code or Card Verification Value. A three or four-digit code found at the back of your debit/prepaid card that provides a cryptographic check of the information embossed on your card. This code helps ascertain that a customer transacting via any alternative channels actually possesses the debit card and that the card account is legitimate. Each company has its own name for the CVV code, but it functions the same for all major card types.
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Passcode – an unspaced sequence of numbers used by our system(s) to identify a user who is authorized to transact and gain access to any account maintained with us.
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One Time Password or OTP – a numeric code sent to a registered mobile number via SMS as a secondary mechanism of identifying users who are authorized to transact and gain access to any account maintained with us.
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Biometrics – a fingerprint or face scan registered to the device which you can use to access your Komo account if the biometric log-in and biometric transaction features on the Komo app have been enabled. Any fingerprint or face scan enrolled on a device with biometric log-in and biometric transactions enabled can be used to access all Komo features and services that would otherwise require a passcode or OTP.
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At any given time, you should take every reasonable precaution to maintain the confidentiality and security of your Card and Access Codes by:
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Keeping possession of your card at all times
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Never keep a written record of your Passcodes, Security Questions and Answer, and PINs, CVV or any other confidential information.
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Avoiding Passwords and PIN combinations that may be easily determined by others such as sequential numbers, repetitive numbers, your name, birthday, phone number, address, SSS numbers, etc.
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Not disclosing or not leaving any trace of your Access Codes to anyone else, including but not limited to family members, friends, Bank employees or law enforcement agencies
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Ensuring that no one sees your Access Codes while you are keying it in or logging into any of our Alternative Channels Banking Facility.
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Keeping your app version updated to ensure the latest security measures are in place.
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Making sure to use a secure internet connection when using the Komo Mobile App.
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You should notify us immediately if:
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Your Card, mobile number, and/or mobile phone with Komo app is lost or stolen or if you suspect that it is lost or stolen or someone else has used it.
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Your Access Codes have become known to someone else, or you suspect that it has become known to someone else or that your Access Code/s have been compromised.
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OTHER EAST WEST RURAL BANK ACCOUNTS ACCESSED VIA THE KOMO MOBILE APP
Checking Accounts. Issuance of checks shall be governed by the rules and regulations imposed by the Philippine Clearing House Corporation (PCHC) and the Bangko Sentral ng Pilipinas (BSP).
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Documentary Stamps Tax. The cost of checks and documentary stamps will be for your account.
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Returned/Dishonored Checks. Return of checks drawn against insufficient funds (DAIF), drawn against uncollected deposits (DAUD), or due to technical defects will be governed by the rules and regulations of the PCHC and the BSP. We may dishonor checks in accordance with applicable laws, regulations and bank policies. We will have no liabilities arising from the said dishonor.
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Mishandled Accounts. We are authorized to close account/s even without prior notice in case said account/s are mishandled by the issuance of unfunded or insufficiently funded check/s or involvement in any fraudulent or illicit activities and to report such closure and reason/s thereof to the BSP through AMLC to keep record of and monitor mishandled deposit accounts of member banks. You shall keep us and our officers and employees free and harmless from all liabilities, claims and demands of whatever kind in connection with or arising from: (a) the closing of account/s; (b) the dishonor of any check/s thereunder which may be presented to us after the closing of the account/s; and/or (c) the reporting of the closure of account/s and the reason/s thereof to the BSP through AMLC.
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Special Savings Deposit. Proceeds are deemed automatically renewed at maturity date. Presentation of the passbook will no longer be necessary to affect auto-renewal. However, pursuant to your instructions, special savings deposit may be paid/terminated or credited to a deposit account at maturity date. If the deposit is withdrawn before maturity date, the applicable pre-termination rates shall be used as basis for computation. Passbook presented to the Bank on or after special savings deposit account closure will be cancelled and forfeited by the Bank
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Passbook. When the entire balance is withdrawn from the Deposit Account, the account shall be closed automatically, and the passbook shall be stamped “CLOSED” and perforated and shall be returned to the depositor.
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Pre-termination of Special Savings Deposit Account. For Joint “AND” Accounts. In case of pre-termination which would result to closing of the account, ALL depositors are required to sign in the withdrawal slip or its equivalent form of drawing the amount from the depositors’ account. For Joint “OR” Accounts. In case of pre-termination which would result to closing of the account, ANY or ALL of the depositors, whose signatures are indicated in the specimen signature, may sign in the withdrawal slip or its equivalent form of drawing the amount from the depositors’ account without the consent of the other co-account holder/s We reserve the right to charge you with the payment of the Documentary Stamp Tax (DST) and other applicable taxes imposed on your special saving deposit with us.
Joint “OR” Accounts. The funds in your joint “or” account(s) are owned entirely by any one of you jointly and severally and shall be payable to and collectable by any one or more of you.
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Transactions. Your joint “or” account authorizes us to allow deposits, withdrawals, check transactions or written payment orders, with any number or all of the individuals who are joint account holders and whose signatures are indicated in the specimen signature card, and automatically vests in any of you to do whatever is desired with the funds without the consent of the other co- account holders. These may include checks or credits in favor of the one who signed for these withdrawals. If we receive any of these without an endorsement, we shall endorse them on your behalf and credit these to your account. We will process all this without inquiry or regard to disposition, even in cases where your account is overdrawn as a result of bank charges, and you agree to hold us free and harmless from any liability arising therefrom. Any number or all of you will be jointly and severally liable for any overdrafts on your account, as well as other interest charges we may have to impose in the course of the operation of your account. We may, however, require the written consent or approval of any or all of you for fund transfers from your joint account to any individual account(s) with us, whether owned by any, all or none of you.
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Client Instructions. At our discretion, and in the absence of instructions to the contrary, we shall credit any and all funds we receive, which purport to belong to any one or more of you, to your joint “or” account. In case we receive contradictory instructions from your co-account holder(s), we may, at our option, require all co-account holders to provide us with common instructions. In the absence of the latter, we may opt to either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve your respective claims thereat. You agree to reimburse us for the cost of the suit, attorney’s fees, and other expenses that we incur in doing so. All of you hereby hold us free and harmless from and against any and all liabilities which may arise by reason of our implementation of any of your instructions or refusal to pay any proceeds of your joint “or” account without the requisite discharge by all of you given to our satisfaction absent any form of bad faith, fraud or other tortuous conduct on our part.
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Withdrawals. Whenever one or more of you withdraw from your joint “or” account, you are doing so with the explicit and sworn declaration under pain of perjury, that all your co-accountholders are still living on the date of withdrawal. Upon the death of a co-accountholder, the withdrawal or release of the funds in your joint “or” accounts shall be subject to applicable Philippine laws, regulations, and orders of courts of competent jurisdiction.
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Joint “AND” Accounts. The funds in your joint “and” account are co-owned by all of you equally and shall be payable to and collectible by all of you jointly during your lifetime. All of you will be jointly and severally liable for any overdrafts on your account, as well as for other interest charges we may have to impose in the course of the operation of your account.
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Transactions. Your joint “and” accounts authorize us to allow deposits, withdrawals, check transactions or written payment orders only with written consent, approval or signature of all the co-account holders of the Joint “and” Account.
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Client Instructions. We shall only act on the instructions given or agreed by all of the co-account holder(s) of the joint “and” account. In the event that no common instructions are given by all of the co-account holder(s), we may, at our option, either freeze the account until all co-account holders arrive at common instructions or deliver the proceeds of the account to the appropriate court in an action for interpleader to resolve your respective claims thereat, it being understood that you shall reimburse us for the cost of suit, attorney’s fees, and other expenses that we incur. All of you hereby hold us free and harmless from and against any and all liabilities which may arise by reason of our implementation of any of your instructions or refusal to pay any proceeds of your joint “and” account without the requisite discharge by all of you given to our satisfaction absent any form of bad faith, fraud or other tortuous conduct on our part.
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Withdrawals. Whenever one or more of you withdraw from your joint “and” account, you are doing so with the explicit and sworn declaration under pain of perjury, that all your co-accountholders are still living on the date of withdrawal. Upon the death of a co-accountholder, the withdrawal or release of the funds in the joint account shall be subject to applicable Philippine laws, regulations and orders of courts of competent jurisdiction.
For-the-Account-Of (FAO) or In-Trust-For (ITF) Accounts. In opening an FAO or ITF account, you declare and acknowledge that the funds covered by the FAO/ITF account are being held by you as trustee, in trust for and for the sole benefit of the beneficiary(ies) named in the account opening form of the FAO/ITF account. You shall provide all documents that we require to establish the identity of the beneficiary(ies), the creation of the trust and the purpose of the opening of the FAO/ITF account. The FAO/ITF account shall be subject to such other terms as we may require. We shall be entitled to disclose any information regarding the account to your beneficiary(ies). You warrant and represent that the FAO/ITF account, including payment or release of the funds, is established for a legitimate purpose. You shall hold us free and harmless from any and all claims of whatever kind or nature arising out of or in connection with the establishment, release and/or disposition of the FAO/ITF account.
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Revocability. You may designate the FAO/ITF account as revocable or irrevocable. Under a revocable FAO/ITF account, you reserve the right at any time to close or terminate the account or withdraw any amount therefrom in accordance with these Terms and Conditions, without the consent of, or notice to, any beneficiary. Under an irrevocable FAO/ITF account, you relinquish your right to close or terminate the account and no part of the funds therein shall revert to you or may be withdrawn by you. In the absence of your written instruction, we shall process the FAO/ITF account as revocable.
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Deceased Depositor. Whatever funds remain in the FAO/ITF account upon your death shall be beneficially owned by the beneficiary(ies) and shall accordingly be released by us to the said beneficiary(ies) or to the latter’s legal guardians or representative(s) upon presentation of the appropriate identification and the required tax clearance. We may require your beneficiary(ies) to provide us with an acceptable indemnity agreement, court order on appointment of legal guardian, and any other document that we may deem necessary.
Acceptance of Deposits. Cash and check deposits will only be credited after our verification. Checks will be accepted on a collection basis only and may be withdrawn only after the prescribed clearing period under the existing BSP / PCHC or international clearing house rules and regulations, as applicable. Until such time that we receive actual payment, we may immediately charge back to your account any defective or lost item credited to the account, regardless of the time elapsed whether or not the deposited item can be returned. We will not be liable for loss of items in transit nor for checks drawn on us which are not paid because of insufficiency of funds, forgery, stoppage of payment, or any other reason. You assume full responsibility for the genuineness, authenticity and validity of all items deposited and all endorsements thereof. We shall not be liable for claims of forgery and/or any other defect on honored checks if not reported within ten (10) days from your receipt of the statement.
Waiver of Protest. You agree to waive presentment, protest and notice of dishonor on all checks, orders for payment, bills of exchange, promissory notes, securities, notes, electronic debits or credits or any other payment instruments (“Instrument/s”) that we receive in any way for discount, deposit, collection or acceptance on your account. You are liable to us for any Instrument received for your account as if it were presented, protested and given notice of dishonor in the usual way.
Withdrawals. Over-the-counter withdrawals must be made personally by you or by your duly authorized representative during banking hours. You likewise have the option of withdrawing funds through our and other banks’ (subject to applicable charges) Automated Teller Machines (ATM) within and outside regular banking hours as well as via the Komo mobile app.
Auto-Debit Arrangement. You may enter into an auto-debit arrangement with us whereby we shall automatically debit from your enrolled regular savings or current account the amount due to us or to companies or establishments enrolled in our auto- debit arrangement facility. You shall be required to provide us with your written authorization through our auto-debit authorization form. In case the balance in your designated account is insufficient, we may, at our option, not make any debit/deduction or debit any amount that we can from your account. You, on the other hand, shall directly be responsible for paying any amount still due to the concerned party.
Bank Checks. We shall not issue manager’s checks, certified checks, cashier’s checks or similar instruments payable to cash, bearer, fictitious payee or numbered accounts.
Lost Checks. In case a Manager’s check, certified check, cashier’s check or similar instrument issued by us is lost, stolen or destroyed, you shall execute an Affidavit of Loss with Waiver of Liability by Purchaser/Payee detailing the incident and provide us with an indemnity agreement or an acceptable indemnity bond before we issue a replacement check or a refund of the amount on the check to protect us from any liability that may arise from the lost, stolen or destroyed check.
Checkbook Reorder. Checkbooks may be linked to your deposit account or credit line maintained with us. Upon receiving any checkbook issued by the Bank, you shall piece-count the checks to ascertain their completeness and immediately notify us of any discrepancy. You must ensure proper safekeeping of your checkbook to avoid loss and/or usage by unauthorized individuals. Checkbooks may be ordered through depository branch request. Should the available funds in your concerned account be insufficient to cover this cost, we reserve the right to debit the amount from any bank account that you maintain with us at any other time. You further agree that if you are to send a representative to pick up your requested checkbook(s), said representative should either have a letter of authorization from you or a check re-order slip with his name on it duly signed by you.
You agree to hold us free and harmless from any and all claims and liabilities and undertake to reimburse/indemnify us for all such costs, payments, damages and expenses which we may be liable for or which we may incur or have incurred by reason of our implementation of your checkbook reorder(s). You further undertake to notify us promptly in writing of any change in the conditions which give rise to your request for checkbook reorder.
Stop Payment Orders (SPO). This will be done by you in writing through our branches. Upon requesting for an SPO, you agree to the following:
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You will hold us free and harmless from any liability whatsoever and howsoever caused.
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You shall reimburse us for all costs, damages, expenses and injury for which we may be liable by reason of (1) non-payment of the check (2) payment contrary to the SPO if such payment occurred through inadvertence, accident or oversight (3) payment made before date and time when the SPO was received by the Bank.
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We shall return the check/s for the reason “SPO-DAIF” (drawn against insufficient funds) if such will be the case, regardless of SPO.
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We shall debit your account for payment of fees and charges in relation to the SPO. You may likewise opt to pay these in cash.
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You will notify us promptly (subject to the applicable SPO cancellation procedures) if the check/s is/are paid, recovered or destroyed or if for any reason the SPO may be cancelled.
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For dated checks, the SPO will be in effect for six months from the date of the check/s unless you earlier cancel or renew it, as check dated more than six months upon presentation shall automatically be rejected for the reason “stale dated”.
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For undated check/s, the SPO will be in effect for one (1) year, reckoned from the date of the request, unless otherwise cancelled or renewed.
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SPO revocation or cancellation through our branches will also be in writing. Requests for SPO cancellation within the SPO period will take effect only upon our receipt of your instructions. We reserve the right to charge a fee for the filling of the SPO request and for an SPO cancellation order. Checks drawn against a closed account will be returned for the reason “Account Closed” regardless of SPO instructions.
Passbook. You may be furnished with a passbook depending on the type of current or savings account that you open with us. Transactions made to your account shall be recorded in this passbook. You must carefully keep and guard the passbook issued to you.
Lost Passbooks, Checkbooks, Time Deposit Passbook. In case your passbook, checkbook or TD passbook is lost, stolen or destroyed, you shall inform us immediately by submitting to us an Affidavit of Lost Passbook/Checkbook/TD Passbook with Waiver of Liability which shall serve as your authorization for us to either close the account and open a replacement account or simply issue a new passbook, checkbook or TD Passbook. You hereby agree to hold us free and harmless from and to indemnify us for any loss that we may sustain by reason of such issuance as therein requested.
Deposit Accounts for Children. Deposit accounts should be opened by persons of legal age for the benefit and under the name of children below seven (7) years of age. Accordingly, all indemnities/undertakings/representations that are supposed to have been made by the child in respect to these Terms and Conditions will be deemed to have been made by the person of legal age acting as Principal to the deposit account.
Consequently, if you open a deposit account for a minor, you agree, confirm and undertake that:
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You are solely and exclusively bound by these Terms and Conditions
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You further agree, confirm and undertake that you are solely and exclusively liable and responsible for all charges/expenses/other monies incurred/due and payable on the deposit account and debited by us from the said deposit account.
Children from 7 to 17 years of age may be allowed to open a savings or time deposit account as principal depositor (subject to P.D. No. 734).
FOR ALL EAST WEST RURAL BANK ACCOUNTS
Bank Statements. For accounts with bank statements, the bank statements shall be generally available on a monthly basis, except when specifically stated in the account product type. We shall send you statements through postal mail, email or any other electronic means. Should you request for statements of account at other times, a nominal charge shall be collected from you for each additional statement furnished. If no complaint is received from you within ten (10) days from the time that we send you the statement, said statement and all transactions therein will be considered correct and any claim against us will be deemed waived. Printed copies of unclaimed bank statements within an aggregate period of three (3) months will be destroyed/disposed. Any request for a copy of the same may be made only within a period of six (6) months and upon payment of a nominal charge. We may entertain requests after the six (6) months period at our discretion and for a nominal charge.
Payment of Interest. Where the account type requires the payment of interest, we will compute the interest based on the collected daily balance at the prevailing and applicable rates that we prescribe. Interest earned will be credited at the end of the product-defined payment period. We reserve the right to change the interest rate and the basis of the computation and mode of payment at any time. The prevailing interest rate basis of computation and mode of payment and any amendments thereto will always be posted in a conspicuous place in our branches or on our website. No interest will be paid to an account closed prior to our set interest payment dates.
Customer Records Update. You should update your customer records every five (5) or two (2) years, or sooner than required by us. Should you need to update your specimen signature/s or authorized signatories earlier, a written request from you in the form acceptable to us will be required. For joint accounts, the written request should be signed by all co- account holders. For corporations, associations, clubs and other unincorporated organizations, the written request must be supported by a board resolution. For partnerships, the written request must be signed by all partners.
East West Rural Bank Accounts Minimum Balance (including Komo Savings Accounts). You shall maintain (a) the required minimum average daily balance as may be prescribed by us based on the set product parameter and which may increase or decrease from time to time upon due notice to you. We reserve the right to close any account with zero balance for over a period prescribed by us, which may change from time to time.
PDIC Insurance. In compliance with Regulatory Issuance No. 2009-03 (Determination of Beneficial Ownership of Legitimate Deposits) of the Philippine Deposit Insurance Corporation (PDIC), you are informed of the following:
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Deposits are insured with the PDIC up to a maximum amount of Five Hundred Thousand Pesos (Php500,000.00) per depositor.
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PDIC shall recognize the registered owner/holder of a Legitimate Deposit in our books as the depositor entitled to deposit insurance, except where our records show that the Legitimate Deposit is maintained in the same right and capacity for the benefit of another depositor, in which case PDIC shall recognize the latter as the beneficial owner of the account entitled to deposit insurance.
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In cases (1) where a deposit account/s with an outstanding balance of more than the statutory maximum amount of insured deposit is/are broken up and transferred into one or more account/s; or (2) for deposit accounts and deposit transfers made in favor of individuals or of entities, either singly or jointly with individuals, from an account in the name of corporation, partnership, association, or unincorporated entity, the PDIC shall recognize the transferee/s as the beneficial owner/s of the account/s when:
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i. The transfer was made with all of the following conditions present:
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The break-up and transfer of deposit to the transferee is for a Valid Consideration;
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The details or information for the transfer, which establish the validity of the transfer from the transferor to the transferee, are contained in any of our Deposit Account Records; and
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Copies of documents, which show the details or information for the transfer, such as but not limited to contracts, agreements, board resolutions, audited financial statements, orders of the courts or of competent government body/agency, are in our custody or possession upon takeover by PDIC.
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ii. The transferee/s is/are the Qualified Relative/s of the transferor. Qualified Relatives are transferees within the second degree of consanguinity or affinity of the transferor. Relationship shall be proven by relevant documents such as, but not limited to, birth certificates and marriage certificates.
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Deposit Splitting occurs whenever a deposit account/s with an outstanding balance of more than the statutory maximum amount of insured deposit maintained under the name of natural or juridical persons is/are broken down and transferred into two or more accounts in the name/s of natural or juridical persons or entities who have no Beneficial Ownership on transferred deposits in their names within one hundred twenty (120) days immediately preceding or during a bank-declared bank holiday, or immediately preceding a closure order issued by the Monetary Board for the purpose of availing of the maximum deposit insurance coverage.
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Upon the determination by the PDIC of Beneficial Ownership or Deposit Splitting, the outstanding Legitimate Deposit/s in the closed bank maintained for the benefit of the beneficial owner/transferor, although in the name of another person/s or entity/entities, shall be subject to consolidation with the other Legitimate Deposits of the beneficial owner/transferor in said closed bank for deposit insurance purposes.
Garnished and Freezed Accounts. Upon our receipt of a notice or order from a court or other competent authority directing the garnishment, attachment, freezing, sequestration or receivership of your accounts, we shall automatically place the amount required to be garnished in your accounts on hold and no withdrawals from it shall be allowed until such order is lifted. Time deposits that are included in any garnishment, freezing, sequestration or receivership order shall be treated as a regular savings account upon maturity, in accordance with existing regulations, and shall likewise be placed on hold until said order is lifted.
You hereby hold us free and harmless from and against any and all liabilities which may arise by reason of our compliance with the above-stated notice or order from a court or other competent authority.
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Debits to Account. We reserve the right to debit, without need of prior notice to you, your account/s for all applicable taxes, fees, duties, penalties and other charges due to us or as may hereafter become due at the rate and in the manner provided by applicable laws and the rules and regulations issued by the Bureau of the Internal Revenue (BIR), BSP or any government authority.
You must also recompense us for costs incurred in our effort to recover amounts that you owe us. These include but are not limited to collection fees and attorneys' fees. You agree to indemnify us for attorneys' fee of at least ten percent (10%) of the amount due plus accrued interest. Should you be unable to pay, these costs and fees will be charged against your account.
Pledges on Deposit Accounts. You undertake to advise us in writing of your intention to assign or pledge deposits as collateral for an obligation. You agree to comply with the requirements that we will impose for such assignments or pledges.
Hold Deposit. Should you desire to put a portion or all your funds with us on hold for a certain period of time, you shall provide us with written and signed instructions in the form that is acceptable to us. During this hold period, you will not be able to withdraw or cause any withdrawal against said funds. Withdrawal shall include but not be limited to over-the-counter, internet banking or ATM/POS transactions and the issuance or drawing of checks that will reduce the amount on hold. You hereby hold us free and harmless from any and all liability arising from our compliance with your hold deposit instructions, including but not limited to dishonored checks made payable during the holding period and for which service fees shall be automatically charged against your deposit account.
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Inactive Accounts
Komo Savings Account. Your account will be considered inactive if there is no account holder-initiated deposit or withdrawal transaction on your account for 60 consecutive days. If your Account has been inactive after providing you the required notifications under applicable laws and regulations, the Bank may impose applicable fees and automatically close your account.
Dormant Accounts
Dormant Komo Savings Accounts. If your Account has been inactive for two (2) years after providing you the required notifications under applicable laws and regulations, your account will be considered dormant and dormancy fees may be imposed after a period of five (5) years from the last deposit or withdrawal transaction in your account. If your account has no remaining balance at the time, it became dormant, it may be automatically closed by the Bank without prior notice to you.
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In addition to dormancy fees, the Bank may likewise impose other service fees on the dormant accounts as maybe notified to you in accordance with applicable laws and regulations.
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Any account with remaining balance that has been inactive for ten (10) years shall be included in the list of unclaimed balances to be submitted to the Treasurer of the Republic of the Philippines and will be subject to escheatment in favor of the Government of the Republic of the Philippines in accordance with the Unclaimed Balances Act (Republic Act No. 3936), as amended.
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Other East West Rural Bank Accounts. Accounts will become dormant if they are inactive (no client- initiated transactions) for two (2) years for savings accounts and one (1) year for checking accounts. You may reactivate your dormant accounts by giving us your personal instructions. You have to be physically present at the branch of account to update your specimen signature card and to make an over-the-counter transaction (deposit or withdrawal). We need to fully establish your identity before reactivating your account and will therefore require you to present valid IDs before processing reactivation or closing your dormant account.
Accounts which remain dormant for ten (10) consecutive years shall be escheated in favor of the Treasurer of the Philippines. If the “unclaimed balance” has been deposited by the Bank to the Treasurer of the Philippines, you will have to go directly to the government to file for any claim on the funds.
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Deceased Depositor.
Komo Savings Account. In the event of death of an account holder, the executor, administrator and/or legal heirs, of the account holder must immediately inform the Bank of the fact of such death. In accordance with local tax laws and regulations, the withdrawal of the funds corresponding to the ownership interest of the deceased maybe allowed within 1 year from the death of the account holder, subject to the presentation of the documents as required by relevant regulator and the payment and/or withholding of applicable taxes.
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After the lapse of the one (1) year period, the executor/administrator and/or legal heirs must pay the estate tax due on the account holder’s estate and secure the tax clearance certificate from the regulator together with the documents required before the funds can be withdrawn.
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In all cases, the executor/administrator and/or legal heirs of the account holder shall each indemnify the Bank for any expenses, losses, or damages the Bank may suffer by virtue of or in relation to their withdrawal of the funds.
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Other East West Rural Bank Accounts. We will freeze your deposit account upon the notice of your or your co-account holders’ (for joint accounts) death until necessary legal documents are presented. Claimants shall likewise comply with procedures that we set forth in claiming such deposits with us.
Transaction Corrections and Reversal. You further authorize us, our employees and our representatives, to effect correction or reversal of any confirmed error or misposting on the account without us incurring liability as consequence thereof.
Bank-Initiated Account Closure. We may terminate or suspend the use of your Account at any time, with or without notice to you and without us incurring any liability as a consequence of such termination or suspension, if:
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You have breached these Terms and Conditions;
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If, in our reasonable opinion, your account is mishandled as determined pursuant to our existing policies and procedures, or if your account or your Card is being used for any unlawful or illegal activity or transactions;
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In case of closure, termination, suspension, garnishment, hold-out or other similar restrictions on your account
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If we have reason to believe that your Card or account has been compromised or that there has been fraudulent or unauthorized use of your Card or account or any information pertaining thereto; or
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We consider that there exists another reasonable ground/s to do so.
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After 90 consecutive days of a Komo savings account having zero balance.
We may, at any time, return to you the whole or any part of your deposit(s) together with any interest due thereon minus any unpaid charges/obligations due or payable to us and net of applicable taxes. We, at our option, may notify you either personally, by mail, email, SMS or any other electronic means, of our intention on your account, and interest, if any is due, shall cease from the date of such notification.
Customer-Initiated Komo Account Closure. To close your Komo account, you must first withdraw the outstanding balance in your account. You may withdraw the full balance by initiating a transfer to another bank using the Komo app or by withdrawing through any East West/BancNet ATM. You may also opt to waive any remaining balance in your account up to P200. If you request for account closure but do not explicitly confirm the intention to waive the remaining balance in your account, we may proceed with closing the account and the balance which shall not exceed P200 shall be forfeited in favor of the Bank together with any accrued interest that has not yet been credited to your account at the time of closure.
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To initiate closure of your account, simply email support@komo.ph or call (02)8888-1777 to file your request. Upon receiving your request, we will check your account to ensure that there are no outstanding cases, accountabilities, or obligations associated with it. While we are checking your account, you may still revoke the request for account closure. However, once the account has been successfully closed, you will not be allowed to open another Komo account for 90 calendar days immediately after the date of closure.
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Other East West Rural Bank Accounts. You may request us to terminate or suspend the use of your Card through any of the following:
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Your duly signed written instructions delivered to and received by us
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Phone instructions given to our authorized representative
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Facsimile
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Email
We will, on a best-efforts basis and to the extent practicable, immediately effect the requested cancellation or termination You will remain responsible for any transaction made on your account(s) until the time that we effect the termination or suspension of the use of your account.
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Liabilities beyond Account Termination. These terms and conditions and any and all of your accrued but unpaid obligations to us will survive the termination of your right to use your account. In case the account is determined to be used for illegal activity, such as but not limited to selling of accounts on social media and opening accounts for an ultimate beneficiary owner other than the account applicant, the Bank may also file the necessary legal actions to protect its interest with expenses to be borne by the client.
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PRODUCTS AND SERVICE OFFERS
Products and Service Offers. We may, from time to time, introduce products, programs, privileges, benefits, facilities or services to be governed by their specific terms and these Terms and Conditions. The introduction, terms and conditions, restrictions, termination or withdrawal, duration and/or change of such programs will be at our sole discretion and you may not compel us to offer any programs to you. You agree and authorize us to send promotional advertisements of our products and services to you through postal mail, short messaging services, multimedia messaging services, email and other forms of electronic communication.
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Option to Opt-Out from Receiving Komo Promotional Advertisements and Offers
You may choose to opt-out from receiving promotional advertisements and offers by sending us an e-mail at support@komo.ph or configuring your notification settings inside the Komo app.
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ALTERNATIVE CHANNELS BANKING SERVICES
Komo Digital Banking App. Komo is a digital banking service of East West Rural Bank, Inc., a wholly owned subsidiary of East West Banking Corporation. It is a mobile application that lets you access your Komo account and/or existing East West Rural Bank account/s that you’ve opened with an EWRB store.
East West Rural Bank, Inc. and East West Banking Corporation are banking entities. They are regulated by the BSP, AMLC, and SEC, among others, and are each a member of PDIC. East West Banking Corporation is also a publicly listed company in the Philippine Stock Exchange and is regulated by the same.
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How do you use the Komo Mobile App?
The use of the Komo Mobile App involves the transmission of information through the Internet. Downloading and accessing the Komo Mobile App is not the same as opening a Komo Savings Account.
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The Komo Mobile App is an access point to your East West Rural Bank accounts, where you can check your balances; check your transactions; pay bills; purchase products and services from the Bank or its third party service providers/partners; initiate fund transfers to your own accounts with East West Bank and East West Rural Bank, to your own accounts with other Philippine banks, to third party accounts with Komo, to third party accounts with East West Bank and East West Rural Bank, to third party accounts with other Philippine banks.
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Registration and Access
When you download and open the Komo Mobile App for the first time, you will be asked to either open a Komo Savings Account by completing our onboarding process or link your existing East West Rural Bank account. During the onboarding, you will need to register your mobile phone number through an OTP challenge. You will also need to nominate a six (6)-digit passcode. Once both your mobile phone number and passcode are registered, your mobile device will be registered with us, and the Komo Mobile App will be bound to the registered mobile device. Your Komo mobile application account can only be accessed via one device at a time. Logging in on another device would log you out of the initial mobile device you were using. This is a security feature that ensures that only you can have access to your Komo Mobile App. You may change your registered mobile device through the Komo Mobile App.
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For Komo Savings account application, you will be generated an account number and be able to fully use all the features and services of the Komo Mobile App upon bank’s approval of your application.
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Once registered, you may access the Komo Mobile App anytime by inputting the 6-digit passcode you nominated during onboarding or via biometric authentication if activated. If you forgot your passcode, you may reset it in the Komo Mobile App. You may change your 6-digit passcode anytime through the Komo Mobile App. You will also be prompted by the app to enable logging in via Biometrics, which you can choose to set-up immediately or later. The type of biometric authentication you can enable will be dependent on your mobile device, but will either be (1) your fingerprint, or (2) your Face ID.
Access Lock-out
Your access to the Komo Mobile App will be suspended for a set period if you:
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enter the wrong passcode three (3) consecutive times
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enter the wrong OTP on financial transactions (i.e. funds transfer, bills payment, buy load, insurance, approval of request money)For every failed attempt after the first three (3), your access to the Komo Mobile App will be suspended at increasing amounts of time between being allowed to try the next input. You will be able to regain access once the suspended period lapses and you are able to provide the correct passcode. Succeeding incorrect inputs will double the waiting time in between being allowed to try again.
Your access to the Komo Mobile App will be locked and would need customer support assistance if you:
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enter the wrong PIN code during PIN reset and card blocking via the Komo app three (3) consecutive times.
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enter the wrong account information needed for change device three (3) consecutive times
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Bank initiated deactivation for account security such as but not limited to account activity triggering its fraud detection system
For these scenarios, you would need to contact Komo’s customer support for them to conduct positive identification before lifting the account locking.
The bank may also initiate suspension of your access to the Komo Mobile app for security and/or fraud prevention purposes should the bank detect any suspicious activity. The bank may require you to submit supporting documents where applicable for review and investigation prior to allowing reactivation of access to the Komo mobile app.
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Account Types Accessible on Komo Mobile App
Komo Savings Account. These are savings accounts created only via the Komo app. No account will be opened for those who have not completed and passed the onboarding process done only via the Komo app. Komo Savings Accounts cannot be opened via any East West Rural Bank or East West Bank branch.
East West Rural Bank Account/s. Select East West Rural Bank account types can access their accounts straight from the Komo app without having to create a separate Komo savings account by just linking their existing accounts with the Komo app – allowing users to have 24/7 access and free balance inquiry, send money to other banks and e-wallets and soon, pay bills, all via the Komo app.
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FEES AND CHARGES
We will charge you with our current fees and charges for products and services that you avail. Below is our table of services and their corresponding fees:
The schedule of fees and charges will be found posted on our website and in our mobile app. Please note that our fees and charges are subject to change from time to time with notice to you in accordance with the Amendments Clause of these Terms and Conditions. We may be charged by other financial institutions or entities as a result of any Bank product or service that you may use. We will debit the appropriate account with the amount of tax, fee, charge or expense payable by you.
Deposits. An account that falls below our set minimum balance will be subject to a service charge. Zero balance accounts will be subject to bank-initiated closure. The minimum balance required, and the rules and rates of service/dormancy charges will be subject to change from time to time with prior notice to you and will be posted in a conspicuous place in our branches or on our website.
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CLIENT TRANSACTIONS
Client Instructions. You will be liable for any risk, loss or expense resulting from our implementation of your instructions. Neither we nor any of our employees and agents may be obliged to compensate you for such losses or expenses.
Electronic Communications. The term “electronic communication” refers to any communication of instructions by telex, telephone, wire, electronic mail (“e-mail”), short messaging system (“SMS” or “text”), chatting, social media postings/messaging or other method of telecommunication or electronic transmission, including a facsimile transmission or personal computer.
We will consider electronic communication that we authenticate and receive from you or in your name through any of our official electronic channels to be duly authorized by you. You, on the other hand, agree to authorize us to rely and act on any such communication. If we try to verify the validity of any instruction electronically communicated by you (though we are not obliged to do so) and are unable to do so to our satisfaction, we may delay in acting on or refuse to act on such instructions. We may, upon your request, forward copies of any statements, instruments or other documents by facsimile or other electronic transmission to you using the number or address that you provide us from time to time. For our mutual protection, we may, at our sole discretion, record all telephone calls that relate to the use of or include instructions for using our products and services. You agree that our records regarding any electronic communication will be admissible in any legal, administrative or other proceedings as if such records were original written documents. Our records will be conclusive proof of the information contained in such electronic communications. You understand that we, in any electronic communication emanating from us, will never ask you to disclose your username, PIN or any other electronic key to access your accounts and/or make transactions. Should you disclose such information, you do so at your own peril, and you agree to hold us free and harmless for any damages that you may suffer in case of such disclosure.
Fax and E-Mail Indemnity. We may be requested and authorized, but are not obliged, to rely upon and act in accordance with any notice, instructions or other communication that you may give us by facsimile or by e-mail (“Fax/E-Mail Instructions”). We are not obliged to inquire or look into the authority or identity of the person making or purporting to make the Fax/E-Mail Instructions or the conditions pertinent to or circumstances prevailing at the time of the Fax/E-Mail Instructions. We are entitled to treat Fax/E-Mail Instructions as fully authorized by and binding upon you. We shall be entitled, but not bound, to perform such acts in reliance upon Fax/E-Mail Instructions as we may in good faith consider appropriate, whether such Fax/E-Mail Instructions include orders to pay money or debit or credit any account. You will hold us free and harmless from any and all losses, claims, actions, proceedings, demands, damages, costs and expenses that we incur or sustain of whatever nature and howsoever arising, out of or in connection with Fax/E-Mail Instructions, provided only that we act in good faith, except if such arise from our willful negligence.
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DISCLOSURE OF OUTSOURCED SERVICES
The Bank provides a wide range of financial services to our clients around the country through our stores, subsidiaries and affiliates. As part of the continuous review of our ability to offer to our clients, comprehensive, efficient and consistent services, we may outsource certain activities to its parent company, stores, affiliates or to external service providers (collectively, the “Service Providers”), who may be based in locations outside the jurisdiction of Komo and EWRB employees that are providing a service to you.
The outsourced activities will include, subject to restrictions and compliance with the requirements of laws, rules, or regulations, but are not limited to:
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identification and on-boarding of Clients; executing payment and other financial transactions, recording and financially settling services, products and materials delivered to and from EWRB, including communication with clients involved in contracts (e.g. beneficiaries, intermediaries); and
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business process execution; internal management reporting and analysis; creation of global view of clients; conducting internal audits and investigations; finance and accounting; implementing business controls; IT security and services; provision of central processing facilities for efficiency purposes; and document archiving and storage.
EWRB has implemented technology risk standards and other internal controls and procedures to maintain the integrity and confidentiality of your information. EWRB will impose on its Service Providers a contractual obligation of confidentiality in relation to all information they may receive in conjunction with the outsourcing, which will be effective and enforceable under applicable laws, rules, or regulations. EWRB is committed to protecting the integrity and confidentiality of the Client Information and will closely monitor the outsourcing arrangements on an ongoing basis to protect the interests of our clients.
DATA PRIVACY STATEMENTS
EWRB values the confidentiality of your personal data and is committed to safeguarding your privacy. This Data Privacy Statement (“Statement”) complies with the Philippine Republic Act No. 10173 known as the Data Privacy Act of 2012 (DPA) and follows the privacy principles of transparency, legitimate purpose and proportionality.
This Statement details how the Bank collects, protects, uses, processes, stores, transmits, discloses, retains, disposes and destroys information when customers apply for, avail of or inquire about our products and services, such as, but not limited to, deposits, cards, transfers, bill payment, and such other products and services that the Bank offers or may offer from time to time.
This Statement is primarily intended for individuals in the Philippines. When accessing the Bank’s website, digital and electronic banking and communication channels, and/or social media pages from outside the Philippines, you acknowledge and agree that your information may be transferred to and processed in the Philippines following legal and regulatory standards for data protection that may differ from your current or home jurisdiction.
Disclosure of Information
You certify that all information that you have provided or will provide to us (through Bank Documents, supporting documents, etc.) is complete, true, and correct and that all signatures on these documents are genuine and authentic.
You agree to waive confidentiality of information and records relating to you that we may obtain from third parties, including government agencies, your employer, business associates and other entities as we may deem proper and sufficient in the conduct of our business.
You consent to us using and disclosing information or data relating to you, your applications, loan accounts and Bank transactions to our parent bank, East West Banking Corporation, its subsidiaries and affiliates, agents, members of the Filinvest group of companies, other banks, credit card companies, financial institutions and credit information bureaus, third-party service providers and to selected persons in connection with sales and marketing programs (including other products of the Filinvest group) as well as other third-parties authorized by us to receive such information, wherever situated (including outside of the Philippines), for confidential use in connection with our exercise of our functions or for any business purpose (including but not limited to sales and marketing, credit investigation and collection, information technology systems, data processing and storage, and statistical, risk, product utilization and other analysis and other purposes). You agree that such disclosure or exchange of information will not be the basis of any claim against us or the persons receiving such information. You further agree that such person or entity to which disclosure is made may use such information or data in the course of any business carried by him or it.
You acknowledge that we may be required by law, competent courts or government or regulatory bodies or other offices or agencies authorized by law to disclose information or data relating to you, your applications, bank accounts and transactions with us. You understand and agree that we may be required to report your accounts, including the handling thereof, to the Bangko Sentral ng Pilipinas, Anti-Money Laundering Council, credit bureaus and/or any other governmental or regulatory body. You authorize us to report and/or disclose information as required to any bank or credit card association, credit bureau or institution or other appropriate person, if any of your loan accounts become delinquent or any of your deposit or loan accounts are not operated appropriately.
How do we collect information from you?
EWRB is required by law and regulation to collect and retain your personal data for us to establish a banking relationship with you. Furthermore, for us to perform relevant processes to maintain such relationships, we will use, store, share, and dispose of your personal data when reasonable and necessary.
You share your personal data with us when you register and open an account, use our mobile application, avail yourself of any related services, contact us, or interact with our third-party service providers or accredited partners.
What personal data about you do we collect?
We collect the following data from you.
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Personal Identifiable Information is data that allows us to identify you. Examples of these are your name, your date of birth, your biometrics such as facial photograph, your identification documents, your contact details, your mobile or PC’s IP address or unique identification number.
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Transactional and usage information or data related to your account and usage of our mobile application, your debit card, and other products offered through the Komo Mobile App.
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Emails, messages, and recordings of voice and video calls with our customer service agents.
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Other information or documents which may be required to avail of specific products. Examples of these include but are not limited to your financial history, proof of billing address, employment details, and other government-issued or privately issued IDs.
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Information provided to our third-party service providers and accredited partners.
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Non-personal information regarding visits to our website, such as IP address, browser type, operating system, and average time spent, to measure use, audit logs and improve the content of our site.
Please note that you are responsible for ensuring that all personal data you submit is accurate, complete and up to date. However, when necessary, we may ask our third-party service provider, employees of the Bank, its parent company, subsidiaries, or affiliates, to directly verify the supplied information or request you to provide additional information in order to comply with the requirements of regulators, supervisory or administrative bodies of the government, tax authorities, or to comply with the order of courts of competent jurisdiction.
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How do we use your personal data?
The bank may collect, use, transfer, share/ disclose, retain and dispose of your personal data for the following purposes:
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Processing, evaluating, facilitating and administering applications for our products and services, and transactions;
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Performing due diligence and/ or background investigation including credit investigation, financial capacity and the like;
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Providing you with information about our products or services,
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Managing your account, facilitating your transactions, and delivering products or services which you have opted for;
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Responding to your inquiries, requests, feedback and other concerns, and using these points of information to further improve our products and services;
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Communicating with you, by sending out welcome letters, statements, notifications, advisories, alerts, and other forms of communication, whether written or using electronic or digital platform, necessary for continued use of our products and services;
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Providing you information on our products and services, marketing and sales offers, promotions, rewards, other features and benefits, and information about third parties which we think you may find interesting, through personalized customer touchpoints like our stores, call center, telemarketing, direct mail, e-mail, messaging, and other channels;
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Performing customer profiling, behavioral and transactional analyses, to understand customer needs, preferences, and market trends, improve and offer suitable products and services, and enhance customer relationship;
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Conducting surveys, market research, studies, and the like to review, evaluate, develop, and improve our products, services, policies, and processes;
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Evaluating the effectiveness of marketing and sales programs and offers;
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Establishing safeguards to identify, investigate and protect you from any unlawful activity, actual or suspected fraud or threats to our systems;
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Managing the Bank's operations such as business continuity planning, safety and security, product development and research and archiving of documents;
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Complying with the Bank’s obligations under the law and as required by government organizations such as, but not limited to, BSP and AMLC, SEC, NPC, BIR, DOLE, HDMF, PhilHealth, SSS, as well as those of other jurisdictions including the United States Foreign Account Tax Compliance Act (FATCA);
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Establishing, exercising and defending the Bank's legal rights;
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Complying with legal and regulatory requirements, such as data submission to credit bureaus, credit information companies, the Credit Information Corporation (CIC), and responding to court orders and other instructions and requests from any local or foreign authorities including regulatory, governmental, tax and law enforcement authorities or other similar authorities;
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Complying with the requirements of audit and privacy assessments/reviews; complying with the required reporting disclosures under applicable laws and regulations
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Performing other such activities allowed by law or with your consent
How We Protect Your Personal Data and East West Rural Bank’s Commitment to Privacy
The Bank maintains a policy of protecting your right to privacy regarding the collection and use of your personal information on the Komo Mobile Banking application. Our privacy policy is the same whether you are a regular East West Rural Bank customer, a Komo user, or just visiting our website (www.komo.ph for Komo or www.eastwestruralbank.com.ph). We safeguard the information that you may provide us.
Our digital banking services are served and hosted on secure servers. This means that, every time you access the mobile app and any information you submit, all transmission between your mobile phone and our servers is encrypted. In the unlikely event that the transmission is intercepted, it will not be usable by anyone who does not have our encryption key. Your peace of mind and the safeguarding of your information is a top priority for us.
We are committed to ensuring that your information is secure. In order to prevent unauthorized access or disclosure, we have put in place suitable physical, electronic, and managerial procedures to safeguard and secure the information we collect online.
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We require you to use a unique passcode through your registered mobile phone, that has a unique digital ID only it can provide, to access your account and transaction information through the mobile application.
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We keep and protect your personal data using a secured server behind a firewall, deploying encryption on computing devices and physical security controls.
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We restrict access to your personal data only to qualified and authorized personnel who hold your personal data with strict confidentiality.
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We encrypt your access credentials such as your passcode and PIN so that no Bank personnel or outside parties have visibility over it.
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We automatically end your mobile banking session after a certain period of inactivity to avoid unwanted access in case the mobile phone is left unattended.
To achieve the above, we collect and analyze non-identifiable data, including:
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Your internet protocol (IP) address;
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The device ID of the mobile phone you are currently logged in at;
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The date and time you accessed the mobile banking application, including frequency of logins, last login date, and failed login attempts; and
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Your mobile operating system
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Your mobile device make and model
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Your Komo app version
You can help us in further protecting your data through the following means:
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Do not share your Passcode and PIN with anyone
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Do not use any number combination in your Passcode or PIN that can be identified to you (e.g. birthdate, telephone number, zip code, etc.)
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Ensure that no one can see your screen or keypad whenever you input your Passcode or PIN
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Change your Passcode and PIN on a regular basis
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Always close the mobile application or log off after using it
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Delete or uninstall the mobile application when you intend to sell or transfer the ownership of the mobile phone or device to someone else
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Do not click on suspicious emails or messages requesting any of your access codes or confidential account information
To whom do we share your data?
We have entered into an agreement with our parent company, East West Banking Corp., in which all information technology systems and infrastructure shall be shared by both companies. Only authorized personnel of both companies are allowed access to your data, and only if such access is done for the purpose of providing you with the banking service you have opted for.
Together with East West Banking Corp., we take reasonable steps to make sure your personal data that we collect, use or disclose is kept strictly confidential. However, in order to provide you with products and services suitable to your needs, with your prior consent, we may share your information with:
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various units, offices and stores of the Bank
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subsidiaries, affiliates, and companies of the Filinvest Group including our parent company, East West Banking Corporation
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authorized/accredited agents, representatives and third-party service providers
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banking associations, merchants, and partners
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banks and financial institutions, credit agencies
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regulatory and government agencies as required or authorized by law
Your personal data may be transferred, stored or processed outside the Philippines by any of the parties above. We ensure that the cross-border arrangement complies with the requirements of the Data Privacy Act and shall use means to provide a comparable level of protection while the information is being processed by the above-said parties.
We will not sell, distribute or lease your personal information to third parties unless we have your permission or are required by law to do so.
Please refer to Annex A for the list of regulatory agencies and partners that we share your personal information with.
Where and how long do we keep your personal data?
We reserve the right to retain your personal data in our servers in the Philippines, or in our cloud servers in the South East Asia and East Asia regions, for certain circumstances such as when your personal data may be necessary to resolve disputes, or if we are required to do so by law or in good faith, provided that such action is necessary to comply with a legal obligation and/ or protect and defend the rights or property of the Bank or its affiliates. If East West Rural Bank is required to retain any portion of your personal data for such purposes, it shall use reasonable efforts to limit such data to what is necessary to accomplish the particular purpose.
Your Rights
The Bank respects your right to privacy under the Data Privacy Act as follows:
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The right to be informed of the personal information that we collect and how it will be processed
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The right to object to the processing of your personal information including processing for direct marketing, automated processing or profiling and to withhold consent to the processing in case of changes or any amendment to the information supplied or declared
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The right to access or demand access to your personal information
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The right to rectification and to dispute any inaccuracy or error in your personal information
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The right to suspend, withdraw, order the blocking, removal, or destruction of your information from the Bank’s system
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The right to damages and to be indemnified for any damages sustained due to inaccurate, incomplete, outdated, false, unlawfully obtained or unauthorized use of personal information, taking into account any violation of your rights and freedom
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The right to portability, to obtain a copy of such information in an electronic or structured format that is commonly used
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The right to lodge a complaint before the National Privacy Commission
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For further details, please refer to NPC's website: https://privacy.gov.ph/mechanics-for-complaints/.
We may charge a fee (to be debited to requesting customer) to cover administrative costs of verifying your request for information and for locating, retrieving, reviewing and copying any requested material or document such as, but not limited to, bank certificate, bank statements, and other transactional and/or account information related reports.
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What if there are changes in our privacy policy?
From time to time, it may be necessary for the Bank to change this Privacy Policy. If we change our Privacy Policy, we will post the revised version here or in our website: https://www.komo.ph/ and will take effect immediately, so we suggest that you check our mobile banking application or website periodically for the most up-to-date version of our Privacy Policy. Rest assured, however, that any changes will not be retroactively applied and will not alter how we handle previously collected personal data without obtaining your consent, unless required by law.
Oversight or Questions
The Bank welcomes comments and questions on this Privacy Statement. As stated above, we are dedicated to protecting your privacy and will make reasonable effort to keep your information private and secure. Due to the rapidly evolving changes in technology, we may update this Policy Statement and all revisions will be posted here or on our website. If you have any questions or comments regarding our policy, you may reach us through our “Contact Us” menu in the Komo Mobile App or on our website: https://www.komo.ph for Komo or www.eastwestruralbank.com.ph for EWRB.
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Contact Us
For any inquiry about Komo, request or concern on this Data Privacy Statement or your personal information, you may email us at support@komo.ph or call our Customer Service Hotline at (+632)88881777.
You may also contact our Data Protection Officer at:
Data Protection Officer
38th Floor ISDPO Office, PBCOM Tower
6795 Ayala Avenue, corner V.A Rufino Street, Makati City
E-mail Address: ewrbdpo@eastwestbanker.com
LIABILITY
Limitation of Liability of EWRB
If EWRB is found liable for any act or omission for any reason whatsoever, EWRB’s liability shall be limited to actual proven damages by a Court of competent jurisdiction. We shall not be liable to you (or to any party claiming rights derived from you) for any indirect, special, consequential, or exemplary damage or loss of any kind in connection with the use of the Komo Mobile App. You shall hold EWRB free and harmless from any liability for EWRB’s reliance on account number matching, and the account number/s you have provided. All obligations hereunder are payable solely at the main branch of East West Rural Bank in Davao, subject to the laws of the Philippines (including any governmental actions, orders, decrees and regulations).
You acknowledge and agree that EWRB may rely on certain third parties from time to time in connection with the provision of the services to you. EWRB will not be liable in any way to you or any person claiming rights derived from you for any damage, injury, or liability caused by the third party, unless EWRB has acted with negligence or fraud in its reliance of such third party or in willful default under any contract or agreement between EWRB and such third party.
Upon the closing or termination of your accounts, EWRB shall have no liability for any claims and demands arising from the closing or termination or, if applicable, the dishonor of any check presented to EWRB after the closing of the accounts. Your waiver applies to any claim arising from the exercise of EWRB’s responsibility to report the closing of your account and the reasons therefor to the Bangko Sentral ng Pilipinas (BSP), Bankers Association of the Philippines (BAP), Philippine Deposit Insurance Corporation (PDIC), Anti-Money Laundering Council (AMLC), and such other relevant government regulatory bodies or agencies.
Transactions Made Using the Komo App
You agree to be liable for all transactions made using the Komo Mobile App and for any loss or damage due to any of the following:
1. Fraud, deliberate action, or gross negligence on your part, such as sharing bank details, security passcodes, payment credentials, among others;
2. Instructions or transactions which are identified by any use of your mobile phone, your mobile number and/or security passcodes, except for those occurring after you have informed us of the breach of your security passcode or the loss of your mobile phone.
3. Fraudulent, improper or unauthorized use of the Komo Mobile App or your security passcodes and the transaction was completed, or loss occurred before you notified us of the loss, theft or misuse of your security passcode or mobile device;
4. Any damage to your mobile phone, related facilities, or software as a result of access to the Komo Mobile App, or through your card number, or security passcodes;
5. Access through your mobile number, mobile phone and/or security passcodes, when it is prohibited, restricted, delayed, or otherwise affected by (i) any law or regulation of the country from where Komo Mobile App is accessed, or the Terms and Conditions of the internet or information service provider in that country of access; or (ii) any law or regulation of any jurisdiction, regional or international authority which governs any use of any component of the Komo Mobile App, any relevant internet or information service provider or system;
6. Any act or omission of any relevant internet, information, or network service provider occasioned by access through your mobile number, mobile phone and/or security passcodes;
7. Any unauthorized modification, alteration, upgrade, or termination of the Komo Mobile App occasioned by access through your mobile number, mobile phone and/or security passcodes;
8. Any delay or failure in any transmission, dispatch or communication facilities;
9. Your failure to update your contact information with EWRB (subject to existing laws, rules, and/or regulations), and other factors outside of EWRB’s control, and your failure or inability to access your EWRB accounts as a result thereof;
10. Any transaction initiated by a third party, whether authorized or not, gaining access to your account or mobile phone prior to notification to us of the access. ;
11. The acceptance of deposits to the account/s or the processing of any transaction applied for or requested by you or pursuant to your instructions, or for not honoring conflicting instructions issued by you or for closing any account/s under the circumstances provided herein
12. Losses or damage relating to violation of any secrecy laws or regulations (if any), should any of your account information be viewed or accessed by any persons other than you, as a consequence of your negligence;
13. EWRB's failure to perform any of its obligations with respect to any product or service offered to you if such performance would result in a breach of any government requirement or if its performance is prevented, hindered or delayed by a force majeure event; in such case, its obligations will be suspended for so long as the force majeure event continues (neither shall another EWRB branch or affiliate become liable). Force majeure events includes restrictions, involuntary transfers, unavailability of any communication, clearing or payment system, sabotage, fire, breakdown in computers and communication facilities, computer-related errors, prolonged power outages, typhoon, flood, explosion, acts of God, economic sanctions, government requirements, civil commotion, strikes or industrial action of any kind, riots or any public disturbances, insurrection, war or acts of government or similar institutions; or
14. Any action taken by EWRB to comply with the U.S. Foreign Account Tax Compliance Act, the Common Reporting Standard, economic sanctions, or government requirements (neither shall another EWRB branch, subsidiary, nor affiliate becomes liable).
15. Any damage, injury, or liability to the customer caused by third party providers or partners of Komo.
For the instances above and as may be applicable under these Terms and Conditions, you shall hold EWRB free and harmless from any liability for EWRB’s reliance on account number matching for electronic payments, and the account number/s you have provided;
Your liability based on the above circumstances shall survive the termination or suspension of your account or EWRB’s services.
Waiver of Rights
Time is of the essence and no failure or delay on the part of EWRB in exercising any of its rights, powers, or remedies accruing upon your breach or default shall be a waiver of any subsequent breach of any other right, power, or remedy. Any waiver, permit, consent, or approval of any kind or character for any breach shall be effective only up to those specifically set forth in the written notice.
Undertaking
In case of over credit, erroneous credit, failure to debit, erroneous debit, mis-posting, or any error in transaction involving any amount, (any and all of which shall be referred to as “Amount/s Due to BANK”) to your account as appearing in the records/books of EWRB, and for whatever cause such as but not limited to systems error, error in communication facilities, you agree and undertake to immediately return to EWRB the Amount/s Due to BANK without need of notice or demand, plus any and all expenses, costs and damages which EWRB may have incurred, including penalty interest at EWRB’s then prevailing loan rate based on the Amount’s Due to BANK, in connection with the enforcement of EWRB’s right to recover and collect the Amount/s Due to BANK. For this purpose, you irrevocably authorize EWRB/its representatives to affect the debiting of funds from account to the extent of the Amount/s Due to BANK, without need of further act and deed, and without EWRB/its representatives incurring any liability as a consequence thereof. This is without prejudice to the exercise by EWRB of its right to enforce full recovery and collection of the Amount/s Due to BANK, in case your account cannot be debited for any reason such as but not limited to insufficient balance, as well as the exercise by EWRB of the legal remedies to which EWRB may entitled to under the law and these Terms and Conditions, including but not limited to immediate cancellation or suspension of the relevant Account/s, civil, criminal, and/or administrative remedies. Pending full recovery or collection by EWRB of the Amount/s Due to BANK, you shall hold the said amount in trust for EWRB. Your failure to account for and return the Amount/s Due to BANK shall give rise to a prima facie presumption of misappropriation or conversion with intent to defraud, on your part.
Assignment
No contracts entered into in connection with your accounts nor the rights, duties and/ or obligations contained in this agreement may be assigned by you. However, EWRB may assign or novate this agreement, either in whole or in part, to a parent or affiliate company or to a company succeeding to the interest EWRB by reason of merger, sale, or reorganization. You agree to execute the documents or powers of attorneys necessary to give full effect to the authority or powers conferred upon EWRB.
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REGULATORY COMPLIANCE
Anti-Money Laundering Act
You authorize us to make the necessary verifications, records, reports, submittals and other processes, as well as to perform such acts for the purpose of complying with the Anti-Money Laundering Act (Republic Act No. 9160, as amended), its implementing rules and regulations, and other laws or rules regulating your accounts and you hereby waive your rights under Republic Act No. 1405, as amended, Republic Act. No. 6426, as amended, Section 55.1 of Republic Act No. 8791 and other applicable laws or regulations in this regard.
You agree to indemnify us against any losses and claims in connection with the above. We, our owners and our employees will not be liable for any direct or indirect loss incurred by you or any person (including loss of anticipated income or interest payment) if such loss resulted fully or partially from our fulfillment of the requirements related to AMLA.
Account or Funds on Hold and Transaction Reversal. To safeguard the integrity of the banking system and prevent financial crimes, you grant the Bank the authority to place the account or funds on hold or reverse transactions, without requiring your prior written consent, in cases of alleged suspicious, fraudulent, unauthorized, or illegal transactions.
Receipt of Alleged Suspicious, Fraudulent, Unauthorized, or Illegal Transactions. In case your account becomes the recipient of funds originating from sources considered as suspicious, fraudulent, or illegal transactions, under existing laws and regulations, or unauthorized as claimed by the originating financial institutions, you acknowledge and agree to hold the Bank free and harmless from any liability whatsoever in accepting the funds.
Sharing of Alleged Suspicious, Fraudulent, Unauthorized, or Illegal Transaction Information. In situations where the account is identified as the beneficiary of funds from alleged suspicious, fraudulent, unauthorized, or illegal transactions, you hereby give your consent to the sharing of relevant information with the originating bank or regulatory bodies or law enforcement agencies, as the case maybe. This includes information such as transaction details, account information, and any other relevant data needed for fraud prevention or investigation.
Certification of Valid Funds. By using this account, you hereby certify that any funds deposited or received therein are derived from valid and legitimate sources. You explicitly declare that no fraudulent or illegal activities are associated with the deposited funds. Any violation of this certification gives the Bank the right to close the account and report the incident to relevant authorities, without prejudice to the right of the Bank to initiate legal action, if warranted.
Prevention of Criminal Activity. You acknowledge and agree that you can be held criminally liable if you use your account or allow a third party to use your account for any fraudulent, unauthorized, or illegal activities, including allowing your account to be a mule account or selling your account to perpetrate illicit transactions. The Bank reserves the right to take legal action against you for involvement in such criminal activities.
GENERAL PROVISIONS
Right to Set off. You hereby irrevocably constitute and appoint us as your attorney-in- fact, with full power and authority and without prior notice, to set-off or apply to the payment of your obligations any funds which you may have deposited with us, or which we may have in our possession or control, including all or any interests or other income which may accrue thereon, including but not limited to time deposit accounts and/or long-term investments, which we are hereby authorized to pre-terminate accordingly, it being understood that you shall shoulder all taxes, expenses and charges arising from the pre-termination of the account or investment.
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No Implied Waiver. The exercise of the rights, privileges, and remedies in any agreement with you shall be at our discretion and option. Our acceptance of payment for any deposit or bills or any part thereof after any due date shall not be considered as extending the time for such payments or as a modification of the conditions thereof.
No failure, omission, or delay on our part in exercising any of our rights, privileges and remedies shall operate as a waiver thereof. No modification or waiver of any provision or consent by the Bank shall be effective unless the same is reduced to writing.
Tolerance, neglect or waiver by us in the enforcement of these Terms and Conditions shall not preclude us from thereafter strictly enforcing the same.
Notice. Your non-receipt of notice after the bank has exhausted all possible means of contacting you through your chosen mode of notification as among the contact details you provided the bank shall not relieve you from the effect of such notice.
Document Authenticity. Where any suspicions arise as to the authenticity of documents, we will be entitled to send such documents to the respective authorized body of expertise to prove authenticity. Any and all costs incurred for such authentication shall be for your account. We will not be liable for any loss that you incur due to the delay caused by such actions.
Right to Refuse Documents. We reserve the right to refuse documents that you present or submit to us for any bank transaction so long as these differ from the ones we approved and use.
Suspension or Termination of Account or Service. If you fail to observe and comply with these Terms and Conditions, as well as any supplement thereto which forms an integral part of our agreement, we may suspend or terminate any of your accounts, investments or our services and products provided to you and your obligations to us shall become due and payable without demand or notice.
We may close your account in case your account is improperly handled by: (a) using it to perpetrate fraud or illicit activities, (b) drawing, issuing or endorsing checks to said account without funds to support the checks, or against insufficient funds; (c) your issuance of a check in an amount that is grossly disproportionate to the present balance/ADB of the account; (d) your previous involvement in fraud or an attempt to defraud as indicated by reports of any nature; (e) your issuance of checks with signatures that differ from the specimen signatures on file; (f) other similar or analogous acts or omissions which we deem unsatisfactory; or (g) for other grounds prescribed by law, clearing house regulation, or regulation of any government agency. We may impose and deduct from your accounts an amount to cover penalties, fines and charges.
In case we suspend, close or terminate one or more of your accounts, or investments, or our services or products, you agree to hold us completely free and harmless from any and all liabilities, claims and demands arising from the suspension or termination of the account, investment, service or product, or the dishonor of any check presented to us after account closing.
Cancellation of Agreements. We reserve the right to discontinue providing any product and/or service to you and/or refuse to provide you with any product and/or service. We will communicate the discontinuance of any product and/or service ahead of time. The discontinuance of any product or service notwithstanding, you will, in all cases, not be relieved of your obligations to us until all amounts owed to us have been paid in full including any interest, service charges, penalties, fees or costs that may be due to us.
Liability Limits. We will not be liable for any loss, damage (including special, indirect or consequential damages) or delay resulting from any force majeure circumstance including failure, error, malfunction or inaccessibility of any of our systems and machines.
Amendments. We may change any of the provisions in these Terms and Conditions and the fees and charges of our products and/or services from time to time. We shall notify you at least sixty (60) days prior to the implementation of such changes and you shall be deemed duly notified of such changes if we send notice through any of the following means, at our sole discretion: (i) mailed and/or emailed notices (sent to your mailing or email addresses indicated in our records), (ii) notices posted at our branches or (iii) notices in our website. However, changes in the deposit interest rates for Komo shall be effective immediately after public notice.
Civil Code Article 1250. The provisions of Article 1250 of the Civil Code of the Philippines shall not be applicable.
ENFORCEMENT PROVISIONS
Subject to all applicable laws, regulations, and/or issuances, these Terms and Conditions apply to all accounts whether existing now and/or to be opened hereafter.
Governing Law. The Terms and Conditions shall be governed by and construed in accordance with the applicable laws of the Republic of the Philippines and by EWRB’s charter documents, regulations, policies, and practices which shall be brought to your attention by publication, display, advertisement, posters including posting on website or otherwise, by electronic mail, facsimile transmission or by such other electronic transmission including short messaging service or similar means of delivery and you submit to the non-exclusive jurisdiction of Philippine courts.
In all cases not specifically provided for in the foregoing or otherwise by agreement between the you and EWRB, the usual customs and procedure common in banks in the Philippines, taking into consideration to channel and nature of the facility used, shall exclusively govern all transactions between the you and EWRB, with regard to your Komo account. All circulars, rules and regulations and guidelines of the BSP, PDIC, AMLC and such other regulatory bodies on, among others, deposit accounts/investment placements shall form part of and shall be deemed incorporated by reference into these Terms and Conditions. You also agree that all the Accounts and such other products, services, facilities and channels shall likewise be governed by all applicable circulars, rules and regulations of the BSP, PDIC, AMLC and such other relevant government regulatory bodies or agencies.
EWRB is supervised by the Bangko Sentral ng Pilipinas.
East West Rural Bank Inc. is regulated by Bangko Sentral ng Pilipinas with contact number (02) 8708-7087, with email address consumeraffairs@bsp.gov.ph and webchat at www.bsp.gov.ph.
Venue. Venue for actions brought under these Terms and Conditions shall be in the city where our principal office may be located.
Separability Clause. In case any portion of these Terms and Conditions is declared invalid or unenforceable for any reason or should we decide to terminate or cancel any of the products or facilities or services which we provide, it shall not affect the other provisions of these Terms and Conditions which shall remain valid and binding.
HANDLING COMPLAINTS
All complaints and customer concerns can be raised to Komo’s official channels:
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Hotlline: (+632)-8888-1777
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Email: support@komo.ph
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Social channels: Facebook via the Komounity page or the official page @KomoPH
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ANNEXES
ANNEX A: LIST OF THIRD-PARTY(S) TO WHICH WE SHARE YOUR PERSONAL DATA
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