OF THE Withdrawals SAVINGS ACCOUNTS TERMS AND CONDITIONS Withdrawals shall be made only by the depositor personally or upon his A. OPENING OF ACCOUNT written authority duly authenticated and in such form acceptable to the Bank. Only signatures appearing on the signature cards on file will be A Savings Account may be opened by an individual, singly or by two (2) honored by the Bank. or more persons jointly, who is/are free from any legal disability subject to the Bank's account requirements. No withdrawal of any amount in excess of the cleared outstanding balances of an account as shown in the bank records shall be allowed. The account may also be opened by a juridical entity, in the name of a corporation, partnership, associations, and other juridical entities For Passbook-Based Accounts provided all documents / requirements are submitted and complied with. No withdrawal is permitted without the presentation of the passbook.

The initial deposit, minimum balance requirement (MBR) to operate the No entries other than those effected by the Bank shall be recorded in the account and to earn interest shall be set by the Bank. savings passbook. In the event of any discrepancy between the entries in the passbook and the Bank's records, the latter shall prevail. For Social Security System (SSS) Pensioner's Savings Accounts For Statement-Based (ATM) Accounts The account may be opened by an SSS pensioner in accordance with the Bank's account opening requirements together with a “Letter of Withdrawals from this type of account are done using the ATM card and Introduction” (LOI) from the SSS. Only individual accounts may be the machine. The ATM facility allows up to PhP 20,000.00 total opened by pensioners. withdrawal per day unless otherwise indicated or requested by the client.

B. DEPOSITS The cardholder shall be liable for all withdrawals arising from the use or misuse of the card.

Deposits may be made in the form of cash, check, or fund transfers. Bills Payment may be done via UnionBank ATMs and www.

unionbankph.com website. Check deposits received after the clearing cut-off time are considered transactions of the following day. Fund transfers may be done by moving funds between UnionBank accounts and to non-UnionBank accounts. Electronic messages Second endorsed checks, post-dated and stale checks are not pertaining to fund transfer transactions received by the Bank shall be acceptable for deposit. As the owner of the account, the client shall conclusive; otherwise, error reports should be immediately ensure the validity, correctness, and genuineness of all endorsements communicated to the Bank. appearing on all checks or items to be deposited to his account. Any alterations made on any check deposited must be authenticated by the In accepting payment/fund transfer instructions, the Bank acts merely as drawer's full signature. conduit between the client and the payee of the bill/s, undertaking to transfer funds, and therefore, the Bank does not assume responsibility to In receiving checks and other items for deposit, the Bank obligates itself the payee or to the client for any discrepancies in the payment caused only as the depositor's collecting agent, assuming no responsibility by depositor's error or delay in effecting the payment instructions beyond beyond carefulness in selecting correspondents, and is liable only when the control of the Bank. actual payment shall have come into its possession. The depositor shall not use the Bank facility to transfer funds for illegal The Bank reserves the right to refuse acceptance of deposits if it purposes or for any form of money laundering. The depositor agrees to resolves that acceptance of deposits would expose itself to any risks. hold the Bank free and harmless from any legal problems that the fund transfer may result to.

Deposit and/or payment for bills authorized to be paid through the Bank The Bank reserves the right not to perform any fund transfer transaction via UnionBank ATM shall be credited to the corresponding accounts only if it has sufficient grounds to believe that such transfer shall place the after and in accordance with the results of the verification by two (2) Bank in bad situation or expose the Bank to violation of Anti-Money bank personnel. The amount counted by these two (2) bank personnel Laundering Law and existing laws and BSP regulations. from the client's envelope coursed thru the machine, shall be deemed to be the correct amount deposited. Discrepancies noted will be For Dollar Savings Account communicated to the cardholder within three (3) banking days from the date deposit/payment was made. The Bank records shall be conclusive Withdrawals can be in the form of US dollar notes (subject to on the amount of the deposit for credit to client's accounts despite availability), demand drafts, and telegraphic transfers. In case discrepancies. withdrawals are made in US dollar demand drafts, it is agreed that any dispute arising from said payment instruments between the depositor The Bank shall not be responsible for resulting entries based on and the bank shall be governed by laws of the State of New York, USA erroneous or illegible account number on the deposit slip/envelope. pursuant to the Bank's depository contractual arrangement with its depository bank in the USA. The Bank reserves the right to debit the depositor's account for any amount previously credited if uncollected. D. INTEREST, FEES, CHARGES, AND PENALTIES

For Dollar Savings Account The Bank may impose and deduct any necessary fees or other amounts pertaining to the account the depositor has. Unless otherwise agreed, Deposits may be in the form of notes, checks, drafts, and telegraphic the Bank may modify at any time the rate of interest fees, charges, transfers via the Philippine Domestic Dollar Transfer System (PDDTS) penalties, or other amounts applicable to any account or service and and/or SWIFT acceptable to the Bank. communicate such changes to the depositor through announcements in the branch premises. It is expressly agreed and understood that the provision of Article 1250 of the New Civil Code pertaining to cases of extraordinary inflation or Minimum Account Balance deflation of foreign currency and stipulates that unless agreement exists A minimum account balance must be maintained at the agreed /required to the contrary, the basis of payment shall be the value of the currency at monthly average daily balance computed as follows: the time of establishment of the obligation, shall not be applicable to this deposit account. Sum of end-of-day Cleared Account Balance of the month divided by the actual number of Days of the Month. Checks drawn against banks located outside the US continent are Products* Min. Required ADB usually sent for collection. The fees/charges collected by the clearing Regular Savings 25,000 banks abroad shall be debited from the depositor's account. The checks Dollar Savings $500 sent for collection will be credited only upon receipt of the advice of Dollar Access $1,000 payment. EON 0 *Required balance of an account may vary depending on the specific All deposits are further subject to applicable existing and future laws, type of account or its product/service availment with the Bank. rules and regulations of the Bangko Sentral ng Pilipinas (BSP) and of the Bureau of Internal Revenue (BIR). A Maintenance Fee shall be charged to an active or a dormant account when the Average Daily Balance (ADB) of the said account falls below C. WITHDRAWALS the required balance for two (2) consecutive months.

Withdrawals / encashment / payments / fund transfers are allowed only Refer to the updated Fees and Charges List/Table posted in the branch against cleared funds. premises. For Interest Earning Accounts H. JOINT ACCOUNT

Interest rates are decided by the Bank and may vary depending on the This Agreement shall be binding upon Joint Account depositors and their approved interest rates schedule. It is understood that the rate of interest heirs, executors, administrators, and assigns and terms thereof shall not shall be variable based on he Bank's formula, which shall consider the be waived, amended or modified, except with the written conformity of accounts clear balance for the day. the Bank.

Interest computation is based on Daily Cleared Balance and is subject to • Joint “And” Account - The depositors agree and declare that the withholding tax. Interest is based on 365 days for Savings Accounts and account is their joint account belonging to and payable to both the is accrued daily except for Dollar Access Accounts. For regular Savings depositors. The Bank requires the signature of all the depositors in Accounts, interest is posted at the last calendar day of the quarter while withdrawal transactions or payment of funds. Upon the death of one for Dollar Access Accounts at the last calendar day of the month. of the co-depositors, the legal representative of the deceased co- depositor shall co-sign the withdrawal form with the surviving co- If account is closed before interest posting, the interest accrued is depositor, in accordance with the rules for settlement of estate of a forfeited in favor of the Bank. However, interest earned as of closing deceased person, and other related laws, rules and regulations, date may be given upon client's request. when applicable.

Withholding Tax • Joint “Or” Account - The depositors agree and declare that the account is their joint account belonging to both of the depositors The tax on interest earned is governed by the rates prescribed by law. and payable to either one of them. In case one of the co-depositors

predeceases the other, the entire balance of the account shall be E. DEPOSIT INSURANCE payable to the surviving co-depositor. The depositors authorize the

Bank to recognize either of the signatures of the depositors in Deposits are insured by the Philippine Deposit Insurance Corporation withdrawal transactions or fund transfers. Payments to or (PDIC) up to the maximum amount of Five Hundred Thousand pesos withdrawal made by either of the depositors shall completely (PhP500, 000.00) per depositor' account. discharge the Bank from any liability. PDIC shall presume that the name/s appearing on the deposit instrument is/are the actual/beneficial owner/s of the deposit, except as I. STATEMENT OF ACCOUNT provided herein. A Statement of Account (SOA) is issued quarterly for statement-based

In case of transfers or break-up of deposits, PDIC shall recognize actual/ Savings Accounts. For passbook-based Savings Accounts and Dollar beneficial ownership of transferees who are qualified relatives of the Access Accounts, the passbook is used to monitor transactions. transferor. Qualified relatives are transferees within the third degree of consanguinity or affinity of the transferor. J. PASSBOOK

Possession of the passbook shall raise the presumption of ownership In case of (a) deposits in the name of, or transfers or break-up of thereof. Any payment(s) in good faith made by the Bank upon the deposits in favor of, entities, either singly or jointly with individuals, and presentation of the said book shall be deemed valid in the absence of (b) transfers or break-up of deposits in favor of non-qualified relatives, receipt and acknowledgement by the Bank prior to such payment of whenever such transfers/ break up will result in increased deposit written communication from the client stating that the passbook has insurance coverage, PDIC shall recognize beneficial ownership of the been lost, stolen, or otherwise wrongfully comes unto the hands of a entity or transferee provided that the deposit account records show the third person. following:

• Details or information establishing the right and capacity or the A notice in writing that the passbook has been lost, stolen, or has relationship of the entity with the individual/s, or otherwise wrongfully come to the hands of a third person shall be a valid discharge which shall free the Bank from liability for refusing payment • Details or information establishing the validity or effectivity of the despite the presentation of such passbook. Further, in any such cases, deposit transfer, or the Bank may, at its option cause a substitute passbook to be issued to such depositor under such requirements as the Bank may deem • Copy of Board Resolution, order of competent government body/ necessary. agency, contract or similar document as required/provided by

applicable laws. The Bank should be notified immediately for any change in the status or address of the depositor. In the absence of any of the foregoing, PDIC shall deem the outstanding deposit as maintained for the benefit of the transferor although in the K. ATM CARD name of the transferee, subject to consolidation with the other deposits of the transferor. The UnionBank ATM card is and shall remain the property of the Bank.

PDIC may require additional documents from the depositor to ascertain Security Access Code / Personal Identification Number (PIN) the details of the deposit transfer or the right and capacity of the transferee or his relationship to the transferor. Along with the card, the client is provided a 4-digit Personal Identification Number (PIN) used to access an Automated Teller Machine (ATM) and F. DORMANT ACCOUNT Unionbank's internet banking facility.

An account becomes dormant if there has been no activity (deposit or The client agrees to keep this PIN private and confidential and this shall withdrawal excluding earned interest and withholding tax) for a period of not be disclosed, given, and made available to any person under any two (2) years. Aside from dormancy fee, a monthly service charge will be circumstance. automatically deducted from dormant accounts every end of the month if the account's remaining balance is below the required minimum monthly The client agrees to free the Bank of any liability that results from average daily balance (ADB). Refer to the latest Fees and Charges list disclosure of such code. posted in the branch premises. After ten (10) years of continuous inactivity, dormant accounts shall be reclassified to “Due to Treasurer of The client may at any time change his PIN via UnionBank Automated the Philippines”. In accordance with the Unclaimed Balance Law, the Teller Machine (ATM). dormant account shall be escheated in favor of the Philippine The Bank has no capacity to know or view the PIN issued to the client. In Government upon order of the court. case of failure by the client to remember such codes, a new card will be

issued to the client upon the latter's submission of Bank's requirements G. CLOSURE OF ACCOUNT and payment of fees.

The Bank may at any time close an account, refuse to accept any Lost Card deposits, and return to the depositor the whole or part of his deposit together with the interest due upon the same. The depositor may be The client has the obligation to report to the Bank, through Customer notified either personally or by mail of the Bank's intention to close the Service at (02) 841-8600, any case of lost card. The Bank shall not be account and interest shall cease from the date of such notification. liable for any withdrawal or losses that may arise due to the loss of the Notice by mail shall be deemed received five (5) days after the date of card despite receipt of client's report, should it appear that such posting. transaction is made prior to the system-tagging of client's account in order to hold transactions made via the lost card. For SSS Pensioner's Savings Accounts The client shall submit an Affidavit of Loss within twenty-four (24) hours The closure of account must have prior approval of the SSS. The Bank after notification to the Bank of the loss of the card. must transmit to SSS any information that would come to its knowledge (e.g. Death of the Pensioner) which could warrant the stoppage of the The Bank may issue a new card to the client upon payment of pension payment. corresponding fees. Captured Card The Bank shall not be liable for any failure to provide any service or to perform any obligation, or for any loss, damage, injury, or claim of Captured cards remaining unclaimed for three (3) days will be destroyed whatever nature that the depositor may suffer in connection with the use without need of notifying the client. Replacement for destroyed cards of the Bank's systems, due to any fortuitous event, typhoons, floods, may be issued to the client upon payment of necessary fees. public disturbances and calamities, or any act or circumstance beyond the control of the Bank, such as but not limited to: (a) prolonged power Card Termination outages, breakdown in computers and communication facilities, and other similar cases; (b) inaccurate, incomplete or delayed information is The card may be terminated, canceled, or replaced by the Bank at received by the depositor due to disruption or failure of any anytime and at the latter's discretion, without prior notification. communication

In the interest of the Bank, the client agrees to return the card In all other cases not specifically provided under these terms and immediately to the Bank upon its request. The bank may, without conditions, the usual customs and procedures between the Bank and the notifying the client, terminate such card's validity, thereby preventing its depositor, the existing rules and regulations, policies and circulars (and use to perform electronic transactions. those that may be issued from time to time) by the BSP, Banker's Association of the Philippines (BAP), the relative to ATM L. INTERNET BANKING banking, phone banking, or similar electronic transactions, and relevant laws and regulations affecting US dollar accounts, shall be taken into UnionBank Internet Banking is a facility that allows clients to access their consideration in the operation and maintenance of the account and in accounts and to perform various transactions online such as the resolving issues involving transactions between the Bank and the following: (a) Account balance and transaction history; (b) Bills Payment; depositor. The depositor holds the Bank free and harmless from any and (c) Fund Transfer, among others. liability or causes of action in case limitations or restrictions are imposed on the operation and maintenance of the account, by the BSP or by the The client shall use his primary ATM card number or his nominated government which the Bank is bound to comply with or strictly Access ID and PIN / Password to access this facility. implement.

The account is further subject to the Bank's terms and conditions By my/our signature/s herein, I/we acknowledge that I/we have read, regarding the Internet Banking facility, which is available in the understood, and fully agree with the UNIONBANK DEPOSIT TERMS UnionBank Internet Banking website, www.unionbankph.com. AND CONDITIONS with which I/we was/were duly provided, receipt of which I/we confirm by our signature/s below. M. MOBILE BANKING

UnionBank Mobile Banking is a channel that allows clients to check their account and do various transactions such as: fund transfers, buy load, and bills payment using their mobile phone. It is an app available to Java-enabled phones and Smartphones. SIGNATURE OVER PRINTED NAME DATE

Once enrolled, the client may activate the app by downloading it and using the assigned MPIN.

The account is subject to UnionBank's Mobile Banking Terms and Conditions, which is made available during the activation of the UMobile app.

N. OTHERS

The depositor agrees that in cases of conflict between his records and those of the Bank regarding reconciliation of deposit balances, the Bank's record shall, at all times, prevail.

For SSS Pensioners, the Bank shall be relieved from any liability in case withdrawals are disallowed by reason of SSS notice to the Bank that credits to pensioner's account have been discontinued or overpayments thereto have been noted.

The depositor or authorized signatory is required to update his signatures at least once every two (2) years or whenever deemed necessary by the Bank. Changes in authorized signatory are allowed only upon receipt by the Bank, of a written request from the depositor. For corporations, association, clubs and other organizations, the written request must be supported by a Board Resolution. The Bank will not be liable to honor signatures that differ from the client's specimen signatures on file.

The Bank shall be promptly notified of any change in status or address of the depositor, otherwise, all correspondences shall be mailed to the address shown on the Bank's record.

The Bank reserves the right to adopt policies, rules, and regulations from time to time as the need arises and the depositor hereby consents to said policies, rules, and procedures, and agrees to abide by them.

The Bank reserves the right to add, revise, amend or cancel, in whole or part, any of the products and services provided by the Bank and any of the terms and conditions pertaining to any product or service, through an addendum to these terms and conditions. The depositor also agrees that where particular transactions, products, or services are subject to specific terms and conditions agreed upon with the Bank, or that are applicable thereto, such terms and conditions shall take precedence, and these terms and conditions shall be of supplementary character for said transaction/s, products or services.

The Bank, as well as its subsidiaries and affiliates, guarantee confidentiality of client's accounts.

The Bank and its officers and employees shall not be deemed to have violated R.A. No. 1405 as amended, R.A. No. 6426 as amended, R.A. No.8791, and other similar laws when reporting covered or suspicious transactions to the Anti-Money Laundering Council.