These Terms and Conditions shall form part of the specific terms and conditions of UnionBank’s (the “Bank”)

individual products and services and such other rules and regulations governing the account/s with the Bank and shall
be applicable to any future account that may be opened with the Bank.

PROVISIONS FOR DEPOSIT ACCOUNT

Opening of Account
A Deposit Account may be opened by an individual or by two (2) or more persons jointly, who is/are free from any
legal disability. The account may also be opened by a juridical entity, in the name of a corporation, partnership,
association, or other juridical entities provided that all documents/ requirements are submitted and complied with.

The opening and maintenance of deposit accounts shall be at the sole discretion of the Bank upon compliance with and
submission of all documentary / account opening / maintenance requirements of the Bank, and conducting Customer
Due Diligence as part of Know your Customer (KYC). The branch/unit where the account was opened serves as the
maintaining branch/unit. Unless allowed under existing laws and regulations, the deposit accounts shall be maintained
only in the depositor/s’ true and full name.

Authenticity of Documents
The customer shall ensure the validity, correctness and genuineness of information reflected on all documents
submitted to the Bank.

Signature Cards
Complete account opening forms, containing the specimen signature shall be submitted to complete account opening.
A minimum of 3 specimen signatures are required per customer. For personal accounts, the account holder’s specimen
signature is required. For juridical entities, specimen signatures of authorized signatories, with authentication from the
corporate secretary are required. Specimen signatures are updated by the Bank every five (5) years or sooner when
required by the Bank.

Changes in specimen signatures and authorized signatories shall be allowed only upon receipt of a written request
from the account holder in the form acceptable to the Bank. For joint accounts, the written request should be signed by
all the depositors. 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.

Deposit Acceptance
Deposits may be made in the form of cash, check, or fund transfers. Cash and check deposits will only be credited after
verification by the Bank. Checks will be accepted on collection basis only and may be withdrawn only after the
prescribed clearing period under existing BSP/PCHC or international clearing house rules and regulations. In receiving
checks and other items for deposit, the Bank acts only as the collecting agent of the account holder and assumes no
responsibility beyond care in selecting correspondents. The account holder assumes full responsibility for the
correctness, authenticity and validity of all endorsements appearing on the checks or other items deposited to the Bank.
Drawings may not be made against such check deposits, until actual payment has been received by the Bank, or full
proceeds has been collected from correspondent banks, in accordance with: (i) existing BSP/Philippine Clearing House
Corporation (PCHC) rules and regulations; and/or (ii) clearing or collection arrangements made with correspondent
banks, in case of checks denominated in foreign currency.

The Bank is authorized to charge back any spurious, defective, erroneous or lost item credited to the deposit account
regardless of the time that has elapsed, whether or not the item itself can be returned.

Deposits made through the Bank’s night depository facility or through deposit pick-up service, shall be subject to the
Bank's final count and verification, and shall prevail over the figures/amounts indicated in the deposit slip.

The Bank will notify the account holder of any discrepancy.

Second endorsed checks, post-dated and stale checks are not acceptable for deposit. Any alterations or erasures made
on any check deposited regardless of any signature or initials that appear to indicate authorization of the alteration or
erasure will make the check unacceptable for clearing with the PCHC.

The Bank reserves the right to refuse acceptance of deposits if it resolves that acceptance of deposits would expose
itself to any risks.

Deposit and/or payment for bills authorized to be paid through the Bank via UnionBank ATM shall be credited to the
corresponding accounts only after and in accordance with the results of the verification by two (2) bank personnel. The
amount counted by these two (2) bank personnel from the customer's envelope coursed thru the machine, shall be
deemed to be the correct amount deposited. Discrepancies noted will be communicated to the cardholder within three
(3) banking days from the date deposit/payment was made.

The Bank records shall be conclusive on the amount of the deposit for credit to customer's accounts despite
discrepancies.

The Bank shall not be responsible for resulting entries based on erroneous or illegible account number on the deposit
slip.

The Bank reserves the right to debit the account holder's account for any amount previously credited, if uncollected.

Cash Acceptance Machine (CAM)

The Cash Acceptance Machine (CAM) is a self-service terminal that allows the customer to make cash deposits and
payments.

Deposits and/or payments for bills authorized to be paid through CAM shall be credited to the corresponding accounts
only after electronic verification. All successful transactions are issued a receipt, confirming the transaction.

The Bank’s records shall be conclusive on the amount of the deposit for credit to customer's accounts. It is the
customer’s responsibility to ensure that the information entered in the system are correct and notes deposited are
authentic.

For Foreign Currency Deposits

Deposits may be in the form of notes, checks, drafts, and telegraphic transfers via the Philippine Domestic Dollar
Transfer System (PDDTS) and/or SWIFT acceptable to the Bank.

The account holder warrants that the Foreign Currency Deposits (FCD):
a. shall not be funded by foreign currency required to be sold and/or surrendered under the rules and regulations
of the BSP then in effect; and
b. shall be funded purely by foreign currency receipts eligible for deposit under the rules and regulations of the
BSP then in effect. The account holder holds the Bank free and harmless from liability for any deposits made in
violation of any law, rules or circulars.

Checks denominated in foreign currency received as deposits and sent to a foreign correspondent bank for collection/
clearing shall be governed by the following special conditions:
a. the Bank is acting only as collection agent;
b. the Bank shall not be liable for any loss, damage, or delay due to causes beyond its control, acts of God, civil
disturbances, mail delays / fraud, equipment/systems failures, or other events of force majeure; and
c. the Bank shall not be liable for any claim for non-payment of any item unless the non-payment results from the
Bank’s duly established and proven gross negligence or willful misconduct.

Check deposits previously presented and subsequently returned by the drawee banks cannot be re-deposited. The Bank
reserves the right to charge clearing and/or collection charges for checks denominated in foreign currency for deposit
/collection. The account holder fully authorized the Bank, to immediately debit from its foreign currency or peso
accounts for any returned check/s, the Bank’s minimum charges and other amounts the foreign collecting bank may
impose for any returned check.
The account holder does not hold the Bank liable for any loss which may be incurred due to any changes in the
exchange rate.

Checks drawn against banks located outside the US continent are usually sent for collection. The fees/charges
collected by the clearing banks abroad shall be debited from the account holder's account. The checks sent for
collection will be credited only upon receipt of payment.

All deposits are further subject to applicable existing and future laws, rules and regulations of the Bangko Sentral ng
Pilipinas (BSP), Philippine Clearing House Corporation (PCHC) and of the Bureau of Internal Revenue (BIR).

Waiver of Article 1250 of the New Civil Code

The account holders expressly waive the provisions of Article 1250 of the New Civil Code (concerning cases of
extraordinary inflation or deflation of foreign currency which provides that unless agreement exists to the contrary, the
basis of payment shall be the value of the currency at the time of establishment of the obligation) and hereby agree that
Article 1250 shall not be applicable to the accounts.

Waiver of Protest
The account holder agrees 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 the Bank may receive in any way for discount, deposit, collection or acceptance on the accounts.
The account holder is liable to the Bank for any Instrument received for the account holder’s account as if it were
presented, protested and given notice of dishonor in the usual way.

For Third Currency Savings Account

Withdrawals can be in the form of third (3rd) currency notes (subject to availability), demand drafts, and telegraphic
transfers. In case withdrawals are made in the form of third currency demand drafts, it is agreed that any dispute
arising from said payment instruments between the account holder and the bank, shall be governed by laws of the third
currency’s country of origin, pursuant to the Bank's depository contractual arrangement with its depository bank in the
country of origin.

Passbook
Passbook-based account holders may withdraw by filling out the Bank’s withdrawal slip. No withdrawal is permitted
without the presentation of the passbook. The passbook is not transferable. The Bank shall not be deemed liable for
any withdrawals made by any person who presents the passbook.

The savings passbook is issued to assist the account holder in monitoring transactions and account balance. If the
deposit account allows the account holder to transact business even without the savings passbook, through the ATM
and other Bank channels, the account balance shown in the passbook will not be conclusive, unless first updated and
verified by the Bank after comparison and validation with its records.

For non-passbook accounts, the account holder agrees to withdraw through the ATM. The Bank reserves the right to
impose fees and charges for non-passbook transactions undertaken over-the-counter.

No entries, other than those effected by the Bank, shall be recorded in the passbook. In the event of any discrepancy
between the entries in the passbook and the Bank's records, the latter shall prevail.

Possession of the passbook shall raise the presumption of ownership by the holder thereof. Any payment(s) in good
faith made by the Bank upon the presentation of the said passbook shall be deemed valid in the absence of receipt and
acknowledgement by the Bank prior to such payment of written communication from the customer stating that the
passbook has been lost, stolen, or otherwise wrongfully comes unto the hands of a third person.

A notice in writing that the passbook has been lost, stolen, or has 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 despite the presentation
of such passbook. Further, in any such cases, the Bank may, at its option cause a substitute passbook to be issued to
such account holder under such requirements as the Bank may deem necessary.
The Bank should be notified immediately for any change in the status or address of the account holder.

For Statement-Based (ATM) Accounts

Withdrawals from this type of account are done using the ATM card and the machine. The ATM facility allows up to
PHP 20,000.00 total withdrawal per day unless otherwise indicated or requested by the customer.

The account holder accepts full responsibility for all transactions made with the use of the card regardless of whether
such use was with or without the account holder’s knowledge or authority, and/or made with or without the account
holder’s signature or PIN.

Encashment
Encashments are allowed only against cleared funds. Issued checks are not negotiable after six (6) months from the
date of issuance. The same rules for second endorsed checks, post-dated and stale checks apply.

Rules and regulations of the Philippine Clearing House Corporation (PCHC) and BSP shall govern the return of
checks (whether drawn against insufficient funds or drawn against uncollected deposits)

The Bank has the right to dishonor checks presented for reasons other than those mentioned above if it determines that
honoring the check will prejudice the interest of the Bank or expose it to probable loss or damage.

Fund Transfers
A funds transfer can only be made to and from enrolled savings/checking accounts that are in the name of the account
holder and enrolled third party accounts. Un-enrolled funds transfer may be made available for certain channels as and
when additional security measures/device became available. The account holder is responsible for ensuring that correct
instructions (including transferee details) are given to the Bank. The Bank has no responsibility to verify any
information contained in such instructions.

Fund transfers are done by moving funds between UnionBank accounts and other UnionBank accounts or between
UnionBank accounts and non-UnionBank enrolled accounts. It may be coursed through the branches, internet banking,
mobile banking, ATM machines and Cash.

Acceptance Machine (CAM). Electronic messages pertaining to fund transfer transactions received by the Bank shall
be conclusive; otherwise, any irregularities or concerns should be immediately communicated by the account holder to
the Bank. Only clear and unencumbered funds credited to the account holder’s account shall be available for transfer
to other accounts.

Fund transfers may be effected immediately or scheduled in advance, and subject to the cut-off times and processing
schedules of the channel. Only cleared and withdrawable balances of the nominated payment account will be
considered for funds transfer. In case of insufficient available balance in said account, the funds transfer request will
automatically be cancelled and no further attempt will be made by the Bank to make the transfer. The Bank shall have
no obligation nor shall it incur any liability if it does not complete a transfer due to insufficiency of funds in the
nominated payment account. In all cases, the account holder shall be solely responsible for making alternate
arrangements for the funds transfer.

For multiple fund transfers coming from a nominated payment account where the account balance is insufficient to
successfully process the transfer, the Bank, in its sole discretion, may determine which of the fund transfer requests to
complete.

The account holder agrees that the recipient’s account name and/or account number of the funds transfer may be
disclosed to the account holder or indicated in its statement of account. Further, the account holder also agrees that his
/her/its account name and/or account number may be disclosed in the recipient/s statement of account. All disclosures
are in accordance with the confidentiality laws and disclosure of information found in these Terms and Conditions.

In accepting payment/fund transfer instructions, the Bank acts merely as conduit between the customer and the payee
of the bill/s, undertaking to transfer funds, and therefore, the Bank does not assume responsibility to the payee or to the
customer for any discrepancies in the payment caused by account holder's error or delay in effecting the payment
instructions beyond the control of the Bank.
The account holder shall not use the Bank facility to transfer funds for illegal purposes or for any form of money
laundering. The account holder agrees to hold the Bank free and harmless from any legal problems that the fund
transfer may result to. The Bank reserves the right not to perform any fund transfer transaction if it has sufficient
grounds to believe that such transfer shall place the Bank in a bad situation or expose the Bank to violation of Anti-
Money Laundering Law and existing laws and BSP regulations.

Withdrawals
Withdrawals / encashment / payments / fund transfers are allowed only against cleared funds. It shall be made only by
the account holder personally or upon having a written authority, which has been duly authenticated and in such form
acceptable to the Bank. Only signatures appearing on the signature cards on file will be honored by the Bank.

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 Bank is not responsible for any consequences the account holder may suffer from the unprocessed request.

Applicable fees and charges shall be implemented, depending on the chosen mode of withdrawal.

Minimum Account Balance

A minimum account balance must be maintained at the agreed/required monthly average daily balance computed as
follows:

Sum of end-of-day cleared account balance of the month

Actual Number of Days of the month

Required balance of an account may vary depending on the specific type of account or the product/service availed.
Type of Products and corresponding Minimum ADB requirement table may be seen in branch premises and the Bank’s
website (www.unionbankph.com).

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 the required balance for two (2) consecutive months.

Refer to the attached Fees and Charges List (Annex A). The Fees and Charges table may also be seen posted in branch
premises and the Bank’s website.

Any account with zero balance for three (3) consecutive months regardless of status, may automatically be closed by
the Bank without notice.

Interest, Fees, Charges and Penalties

The account holder authorizes the Bank to impose from time to time fees, service charges, and other bank charges on
any or all of the accounts, and such other products, services, facilities and channels within legal and regulatory limits.

The Bank may deduct any necessary fees, service charges, or other amounts pertaining to the accounts. Unless
otherwise agreed, the Bank may modify at any time, the rate of interest, fees, charges, and penalties applicable to any
account or service and communicate such changes to the account holder through announcements in the branch
premises.

The Bank is authorized to debit the applicable fees and charges from the account, without prior notice. If the account
has insufficient funds to cover the fees and charges, the Bank may suspend its use without any liability.

For Interest Earning Accounts

Interest rates are decided by the Bank and may vary depending on the approved interest rates schedule. It is agreed that
the rate of interest shall be variable based on the Bank's formula, which will be calculated based on the account’s daily
cleared balance, provided that, said balance does not fall below the required balance set by the Bank for the account to
earn interest.

Interest Computation
Interest computation is based on Daily Cleared Balance and is subject to applicable withholding tax. Interest is based
on 365 days for Current and Savings Deposit Accounts and 360 days for short-term Time Deposits. It is accrued daily
except for Dollar Access Accounts and Premium Deposit Accounts.

For regular Savings Accounts, interest is posted at the last calendar day of the quarter while for Dollar Access
Accounts, Power Checking and Premium Deposit Accounts at the last calendar day of the month. If account is closed
before interest posting, the interest accrued is forfeited in favor of the Bank. However, interest earned as of closing
date may be given upon customer's request.

Withholding Tax on Interest Income

The tax on interest earned is governed by the rates prescribed by law.

Deposit Insurance
Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to the maximum amount of Five
Hundred Thousand pesos (PHP500, 000.00) per customer.

PDIC shall presume that the name/s appearing on the deposit instrument is/are the actual/beneficial owner/s of the
deposit, except as provided herein.

In case of transfers or break-up of deposits, PDIC shall recognize actual/beneficial ownership of transferees who are
qualified relatives of the transferor. Qualified relatives are transferees within the third degree of consanguinity or
affinity of the transferor.

In case of (a) deposits in the name of, or transfers or break-up of deposits in favour of, entities, either singly or jointly
with individuals, and (b) transfers or break-up of deposits in favour of non-qualified relatives, whenever such transfers/
break up will result in increased deposit insurance coverage, PDIC shall recognize beneficial ownership of the entity or
transferee provided that the deposit account records show the following:
a. Details or information establishing the right and capacity or the relationship of the entity with the individual/s,
or
b. Details or information establishing the validity or effectivity of the deposit transfer, or
c. Copy of Board Resolution, order of competent government body/agency, contract or similar document as
required/provided by applicable laws.

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 name of the transferee, subject to consolidation with the other deposits of the transferor.

PDIC may require additional documents from the account holder to ascertain the details of the deposit transfer or the
right and capacity of the transferee or his relationship to the transferor.

Dormant Account
An account becomes dormant if there has been no activity (deposit or withdrawal excluding earned interest and
withholding tax imposed thereon) for a period of two (2) years for Savings Accounts and one (1) year for Current
Accounts.
A “Notice of Dormancy” letter shall be sent to the account holder at least 60 calendar days before the account becomes
dormant.
The Bank will impose a dormancy fee on a dormant account five (5) years after the last activity, provided that:
a. the balance falls below the minimum monthly ADB, if any;
b. the monthly dormancy fee will not exceed P30.00 in accordance with BSP regulations, and
c. the required two notice requirement prior to charging the dormancy fee is made, as required by existing
banking regulations, or as may be amended from time to time.
Aside from dormancy fee, a monthly service charge will be automatically deducted from dormant accounts every end
of the month, if the account's remaining balance is below the required minimum monthly average daily balance (ADB)
for at least two (2) consecutive months, or as may be required by existing BSP regulations. Refer to the latest Fees and
Charges list (Annex A) posted in the branch premises and website.

After ten (10) years of continuous inactivity, dormant accounts will be reclassified to “Due to Treasurer of the
Philippines”. In accordance with the Unclaimed Balance Law, the dormant account shall be escheated in favor of the
Philippine Government upon order of the court. If the “unclaimed balance” has been deposited by the Bank to the
Treasurer of the Philippines, the account holder will have to go directly to the Bureau of the Treasury for the proper
procedure on reactivation.

The account holder may reactivate a dormant account by giving the Bank personal instructions for the purpose. The
account holder has to be physically present at the maintaining branch of account to update his/her/its specimen
signature card and to make an over-the-counter transaction (deposit or withdrawal). The Bank has to fully establish the
account holder’s identity before reactivating the dormant account and will require the account holder to present valid
IDs before processing reactivation, posting any transaction or closing the dormant account.

For SSS Pensioner’s Savings Account

The account may be opened by an SSS pensioner in accordance with the Bank's account opening requirements
together with a “Letter of Introduction” (LOI) from the SSS. Only individual accounts may be opened by 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 closure of account must have prior approval of SSS. The Bank must transmit to SSS any information that would
come to its knowledge (e.g. Death of the Pensioner) which could warrant stopping of pension payment.

The account holder is liable for all damages and losses suffered by the Bank, arising from such closure. The Bank and
its officers/ employees are held free and harmless from any and all liabilities, losses, claims and causes of action of
whatever kind or nature, in connection with the reporting of mishandled deposit accounts by the Bank, to the Bankers
Association of the Philippines (BAP) or to any central monitoring entity or body established by the BAP.

Closure of Account
The Bank retains the right, at its sole discretion, and at any time, without obligation to disclose the reasons for such
closure, to close any or all of the account holder’s accounts, refuse to accept any further deposits, and return to the
account holder the whole or part of his deposit together with the interest due upon the same.

The account holder may be notified either personally or by mail of the Bank's intention to close the account and
interest shall cease from the date of such notification. Notice by mail shall be deemed received five (5) days after the
date of posting.

If upon account closure, there remains to be unpaid obligations of the account holder to the Bank, the Bank is fully
authorized to withhold such amounts in the account balance, properties or securities of the account holder in the
possession or custody of the Bank as may be necessary to pay existing obligations of the account holder with the Bank.

The Bank is authorized to close accounts even without prior notice in case said accounts are:
a. mishandled by the issuance of unfunded or insufficiently funded check(s); or
b. involved in or used or suspected to be used for any fraudulent, criminal or unlawful activities.

There was/were misrepresentation(s) in the opening of the said accounts and to report such closure and the reason(s)
therefore to BAP, BSP, or to any central monitoring body established by the BAP or BSP to keep record of and report
mishandled deposit accounts.

The account holder agrees that in connection with the closing of a current account, all unused checks, whenever
required by the Bank, shall promptly be surrendered.
The Bank shall pay the account holder the proceeds of the closed accounts via Manager’s Check net of all applicable
charges, fees and/or taxes and/or such amounts which shall answer for the outstanding contingent or past due
liabilities, if any, under any of the products, services and facilities availed of by the account holder from the Bank. The
Bank also reserves the right not to release checkbooks, Automated Teller Machine (ATM) cards or other items paid in
advance for Accounts the Bank decided to close.

The account holder holds the Bank and its officers and employees free and harmless from all liabilities, claims and
demands of whatever kind related to:
a. the closing of accounts; and/or
b. the dishonor of any check thereunder which may be presented to the Bank after the closing of the accounts; and
/or
c. the reporting of the closure of accounts and the reason(s) therefore to the BAP, BSP, or any central monitoring
entity or body or bureau established by the BAP or BSP to keep record of and monitor mishandled accounts.

Deceased Depositor
In case closure of an account upon death of the depositor, the Bank shall only release the proceeds of the account to his
/her heirs subject to the Bank’s policy on deceased depositor and applicable laws and regulation.

Joint Account
This Agreement shall be binding upon account holders and their heirs, executors and administrators of joint accounts.
Terms thereof shall not be waived, amended or modified, except with the written conformity of the Bank.

Joint “And” Account

The funds in a joint “and” account are presumed co-owned by all of the account holders equally, and shall be payable
to and collectible by all of them jointly during their lifetime. The Bank requires the signature of all the account holders
for withdrawals, check transactions, or written orders for payment. All of the joint “and” account holders shall be
jointly and severally liable for any overdrafts on the account, and other penalty charges that may be imposed in the
course of the operation of the account.

The account holders of the joint “and” accounts authorize the Bank 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.

The Bank shall only act on the instructions given or agreed by all of the co-account holder(s) of the joint “and”
account. In case no common instructions are given by all of the co-account holder(s), the Bank may, at its 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 account holders’ respective claims, and the
account holders shall reimburse the Bank for the cost of suit, attorney’s fees, and other expenses that it may incur.

The account holders hold the Bank free and harmless from and against any and all liabilities which may arise by
reason of the Bank’s implementation of any of the instructions of the account holders or refusal to pay any proceeds of
the joint “and” account without the required discharge by all of the joint “and” account holders given to the Bank in
cases where:
a. there is a claim or dispute relating to the account; or
b. there are conflicting claims or representations as to the ownership of the accounts, or the manner of operating
the accounts, the Bank, may at its option, exercise such remedies permitted by law, as the circumstances may
warrant.

All account holders are required to endorse checks, notes, drafts and other instruments for payment.

Amounts owed to the Bank due to fees, charges, or taxes shall be the responsibility of all account holders.

Upon the death of one of the co-account holders, the remaining co-account holder(s) and the legal representative(s) of
the deceased co-account holder shall comply with the provisions of the Rules of Court for settlement of estate of a
deceased person, other applicable laws, rules and regulations, and pertinent Bank policies including, but not limited to,
co-signing the withdrawal form and relevant documents. The remaining co-account holder(s) and the heirs of the
deceased co-account holder recognize and agree that the liability to pay any and all amounts due representing unpaid
obligations, taxes, assessments or expenses arising from the release or withdrawal of the subject account or the funds
therein in accordance with all applicable laws and regulations shall their sole responsibility.

Joint “OR” Account

The account holders agree and declare that the account is their joint account, belonging to both of the account holders
and payable to either one of them. The account holders authorize the Bank to recognize either of the signatures of the
account holders in withdrawal transactions or fund transfers. Payments to or withdrawal made by either of the account
holders shall completely discharge the Bank from any liability.

The account holders authorize each of the co- account holders to endorse for deposit to the joint account all checks,
notes, drafts and other instruments payable to anyone of the joint account holders.

The following instructions shall not be honored by the Bank unless all joint account holders specifically instruct in
writing and/or are complied with:
a. Change in any account information
b. Instruction to change address or any other instructions concerning the maintenance or operation of the accounts.
c. Affidavit of Loss and requests for card replacement/ passbook replacement, certificate of deposit, or any other
evidence of account ownership.
d. Request for bank certification
e. Addition/ deletion of account holder from the account.
f. Affidavit of Loss and request for replacement of ATM Card should be executed by the accountholder to whom
the Card was issued, and conformed to by the co-account holder.
g. Special Power of Attorney authorizing a third party to;
i. withdraw, effect funds transfer, disbursement or any transaction relating to the account, or
ii. assign or encumber the account as security for any obligation.

Survivorship clause for Joint “OR” Account

In case one of the co-account holders predeceases the other, the entire balance of the account shall be payable to the
surviving co-account holder. The surviving account holder shall immediately notify the Bank in writing of the death of
any one of the account holders. Upon receipt of the written notice of death, the Bank may hold in the name of the
surviving account holder/s all funds or items to the credit of, or by way of security for, any service or product then
standing in the name of all account holders, it being agreed and acknowledged that as joint owners of the joint “or”
accounts, remaining co-account holder/s have the right of survivorship.

If the surviving account holder/s fail to give such written notice of death and the Bank allows withdrawals on the Joint
Account before receipt of said notice, it is deemed that the surviving account holders have exercised the right of
survivorship and have complied with applicable provisions / requirements of law including, among others, payment of
taxes, if any, and satisfied any claims/debts/liens/right of set-off which the Bank or any heir or third party may have.
The surviving account holders hereby hold the Bank free and harmless and indemnified from any and all taxes, claims
/debts and liabilities arising from or in connection with this survivorship provision.

In case the Bank receives contradictory instructions from any co-account holder(s), the Bank may, at its option, require
all co-account holders to provide the Bank with common instructions. In the absence of the latter, the Bank 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 their respective claims on the account. The
account holders agree to reimburse the Bank for the cost of suit, attorney’s fees, and other expenses that the Bank may
incur for the purpose.

The account holders hold the Bank free and harmless from and against any and all liabilities which may arise by
reason of the Bank’s implementation of any instruction of the account holder/s or refusal to pay any proceeds of the
joint “or” account without the requisite discharge by all of the account holders given to the Bank in cases where:
a. there is a claim or dispute relating to the account; or
b. there are conflicting claims or representations as to the ownership of the accounts, or the manner of operating
the accounts, the Bank, may at its option, exercise such remedies permitted by law, as the circumstances may
warrants satisfaction.

Declaration that Co-Accountholders are Alive

Whenever one of the account holders withdraws/effects funds transfers/draws against the account/s, the account
holders are doing so based on their continuing declaration and representation, under liability for perjury, that all their
co- accountholders are still living as of the date of the withdrawal/fund transfer/drawing against the account/s is made,
and that the Bank, may at its discretion rely on such continuing declaration and representation and the account holders
agree to keep the Bank free and harmless for its reliance on such continuing declaration and representation of the
account holders.

For Minors & “In-Trust For” Accounts-deposit

For customers who are minors (below 18 years old), it is the responsibility of the parent/s or guardian/s to read,
understand and be bound by the Terms and Conditions. It is the parent/s or guardian/s responsibility to explain to the
minor the use of the products and services. The Bank is free from liabilities which may occur from the use of the
account, products and services.

In opening an In – Trust For (ITF) account, the one opening the account declares that the ITF account is being held for
the sole benefit of the beneficiary(ies) named in the account opening form of the ITF account. The depositor shall
provide all documents required by the Bank to establish the identity of the beneficiary(ies), the creation of the ITF
account, and the purpose of the opening of the ITF account. The Bank shall be entitled to disclose any information
regarding the ITF account to the beneficiary(ies), if required.

The depositor declares that the ITF account, including payment or release of the funds, is established for a legitimate
purpose, and hereby holds the Bank free and harmless from any and all claims of whatever kind related to the opening,
release and/or disposition of the ITF account.

The ITF account may be designated as revocable or irrevocable. Under a revocable ITF account, the account holder
reserves the right at any time to close or terminate the account or withdraw from the account in accordance with these
Terms and Conditions. Under an irrevocable. ITF account, the right to close or terminate the ITF account is
relinquished and no part of the funds therein shall revert to or may be withdrawn by the one opening the account. In
the absence of a written instruction, the Bank will process the ITF account as revocable.

Whatever funds that remain in the ITF account upon the death of the depositor who opened the ITF account shall be
beneficially owned by the beneficiary(ies) and shall be released by the Bank to the said beneficiary(ies) or to the latter’
s legal guardians or legal representative(s) upon presentation of the appropriate identification and other required
documents and payment of applicable taxes.

Requisition/ Issuance of Checkbooks

Checkbooks are reordered by accomplishing any of the following:
a. Checkbook Reorder Request Form/ Business Check Reorder Slip at any of the UnionBank branches
b. Checkbook Reorder Request Bank Stub found in the check booklet
c. Online Checkbook Reorder Request form which can be downloaded from UnionBank's online banking facility.

Payment for checkbook/s may either be in cash or debited from the account. Checkbooks may be linked to a deposit
account or credit line maintained by the account holder with the Bank. Upon receiving any checkbook issued by the
Bank, the account holder or its authorized representative shall piece- count the checks to ascertain its completeness and
immediately notify the Bank of any discrepancy. Personal checkbook consists of fifty (50) blank checks or twenty-five
(25) carbonized checks if requested by the account holder. Commercial checkbook consists of one hundred (100)
blank checks. The Bank is not responsible for tampered checks once the checkbook has been released to the account
holder.

The account holder shall not use checks printed by or secured from printers not accredited by the Bankers Association
of the Philippines (BAP) Accreditation Board. The use of MICR checks printed by, or secured from, entities other than
those accredited by the Bank shall constitute a waiver on the part of the drawer/issuer of the rights to claim for
reimbursement/refund or damage of any kind including, but not limited to, those related to fraudulent acts.

The account holder shall at all times ensure compliance with the following:
a. maintain the checkbooks in a secure and safe place accessible only to account holder and authorized signatory
(ies) and ensure that it is only the account holder
b. or the duly authorized signatory(ies) who draw(s) or issue(s) the same;
 c. exercise due care when drawing and releasing/delivering checks, and shall not draw checks by any means or in
any manner which may enable a check to be altered;
d. not to release/deliver/completely drawn checks nor release/deliver checks by mail or any unsecured means;
e. when drawing checks, the account holder is bound by the conditions to which checkbooks are issued, including,
among others, the following:
i. clearly stating the amount in words and figures in the spaces provided on the check; and
ii. writing words and figures close to the left-hand margin so that other words and figures cannot be
inserted;
f. provide and observe security measures for the safekeeping and use of checks and check records;
g. exercise diligence to obtain cancelled checks and Bank statements and promptly inform the Bank in case of non-
receipt of Bank statements within a reasonable time from statement cut-off date.

For Business Check

Checks with voucher are reordered by accomplishing the Business Check Reorder Slips at the branch, online via
UnionBank's internet banking facility, or using the Bank Stub found in the checkbook.

Payments for checks may either be in cash or debited from the account.

Upon issuance of the checks by the Bank, the account holder or account holder's authorized representative/s shall
count and acknowledge receipt of the checks. Customer or customer's authorized representative/s shall also bring any
file storage device (e.g. cd or thumbdrive) for the encoding of the new check numbers by the Bank. The commercial
check bundle consists of 100 blank checks with voucher. The Bank is not responsible for tampered checks once it has
been released to the customer or customer's authorized representative/s.

Stop Payment Order (SPO)

An SPO may be requested only before the check has been paid or accepted or certified for payment by giving clear
written instructions to the maintaining branch of the account or through the Bank channels. The account holder agrees
that the SPO is accepted by the Bank on the assumption that the check has not yet been negotiated as of the date and
time the SPO is issued and that stale dated checks cannot be accepted for SPO.

The SPO initiated on any check shall be made by promptly notifying the Bank in writing and by accomplishing the
Bank's SPO form, among others, with the account holder fully identifying the check, indicating the date, amount,
check number, and payee.

The SPO shall be effective for six (6) months, from the date of receipt of the SPO. SPOs for dated and undated checks
are valid for a period of six (6) months from the date of receipt of the SPOs. SPO issued on undated checks will be
void and ineffective six (6) months after the date of the SPO and will be automatically cancelled by the Bank without
need for further notice. Lifting of an SPO can only be made upon a written request if the SPO is to be revoked prior to
the expiration period. Issuance of SPOs are subject to the payment of applicable fees and charges which may be
revised and/or changed by the Bank from time to time. Said fees and charges shall be debited from account holder’s
account/s without further notice.

Checks drawn against a closed account will be returned for the reason “Account Closed” regardless of SPO
instructions.

The Bank shall not be liable for any loss that may be suffered by the account holder due to the failure to immediately
report in writing to the bank any loss or theft of check/s.

The SPO may be cancelled or lifted upon written request, if the check has not been presented to the Bank; or if the
check has not been considered stale. Lifting of the SPO releases the Bank from any liability in case the check subject
to SPO is later presented and paid or negotiated by the Bank.

Statement of Account
A Statement of Account (SOA) is issued quarterly for statement-based Savings Accounts. For passbook-based Savings
Accounts and Dollar Access Accounts, the passbook is used to monitor transactions.

For Current Accounts, a SOA is issued monthly by regular mail within a month from availability date.
The account holder is responsible for promptly examining the Statement of Account and the paid checks or check
images enclosed therein to validate if:
a. any and all the entries in the Bank statements are correct;
b. the amount(s), payee(s) and other data indicated on the paid checks are true and accurate and there are no
discrepancies; and
c. there are any fraudulent, altered, forged signatures or endorsements on the checks or the checks are defective.

The account holder shall promptly notify the Bank of any complaints or questions on the Bank statements or the
enclosed paid checks or check images within twenty (20) calendar days from the statement date. Failure to make the
examination or the notification within the said period shall be deemed a conclusive admission of the correctness of the
Bank SOA and the enclosed paid checks or check images.

For current accounts and such other accounts where the Bank opts to deliver a SOA, the account holder agrees that if
within ten (10) calendar days from SOA cut-off date, such statement has not been received, it is the account holder’s
responsibility to go to the maintaining branch to ask for a copy of the SOA or avail of applicable Bank channels to
view, print or download such statement, otherwise, the SOA shall be conclusively deemed to have been received by
the account holder. The account holder agrees that if the Bank does not receive any complaint from the account holder
within twenty (20) calendar days from statement date, any and all transactions as well as the transaction details therein
shall be considered correct and accurate and any claim against the Bank shall be deemed waived. Any complaints
received beyond the said 20-day period shall not be entertained by the Bank.

ATM Card
The UnionBank ATM card shall at all times remain the property of the Bank and the account holder agrees to
promptly surrender the ATM card/s upon request. The account holder acknowledges that the Bank may withdraw or
suspend the ATM card/s or related services offered without need of prior notice, and the Bank shall have no obligation
to inform the account holder of the reason for such withdrawal/suspension.

The ATM card can be used in all UnionBank ATMs (on-us) and other bank’s ATM (off-site). Off-site ATM
transactions are subject to fees. The cardholder is responsible for all the transactions made with the ATM card. If any
account is in the name of more than one (1) person (joint account) and any one of the joint account holders may
transact on the account, the Bank may issue ATM cards to some or all of the account holders, and in such cases, the
Bank may implement transfer / debit / withdrawal instructions that are received from any one of the joint account
holders using any of the ATM card/s issued.

The UnionBank ATM Cards are issued for the exclusive use of the account holder and are non-transferable and cannot
be lent for the temporary use of any other person, nor can the same be pledged or charged as security for any reason
and in any manner whatsoever.

All transactions done through the ATM card are assumed to have been made by or authorized by the account holder.

Personal Identification Number (PIN)

Along with the card, the account holder is provided a Personal Identification Number (PIN) used to access the ATM.

The account holder agrees to keep the PIN (whether Bank-assigned or the replacement PIN of the account holder’s
choice) private and confidential at all times. This shall not be disclosed, given or made available to any person under
any circumstances.

Non-compliance by the account holder of this provision shall relieve the Bank of any liability for any loss arising from
the use of the PIN to effect any transaction relating to the accounts of the account holder. Any transaction effected
using the account holder’s PIN shall be conclusively presumed to have been authorized by the account holder.

The customer may change his PIN at any time, via any UnionBank ATM.

While the cards are issued by the Bank, it is acknowledged that the Bank has no access to the PIN assigned to the card
and does not have the capability to retrieve information related to the said PIN. In case the customer is unable to
remember his PIN, a new card will be issued to the customer upon the latter’s submission of Bank’s requirements and
payment of fees.
International ATM Access
ATM cards may also be used internationally. Such transactions are subject to the laws and regulations governing the
use of international ATMs. Corresponding fees and charges shall apply. Cash withdrawals are converted to the
currency of the institution owning the ATM, at the prevailing exchange rate, during the time of the transaction. The
account holder agrees to be bound by the existing rules and regulations for foreign exchange.

The account holder acknowledges and agrees that the Bank does not have any control over the participants of the ATM
or other networks through which the account holder may access the account/s, or the ATMs themselves, or the
procedures or controls such ATM or other network participants adopt in regard to data / information processing
including the electronic transmission or receipt of data or the accuracy of such data/information. Hence, the Bank shall
not be liable for any loss or damage of whatever kind or nature incurred by the account holder related to the processing
of the transactions through network participants and processors or through third party banks and ATM networks
worldwide, including those arising from the collection, storage and communication of data relating to the account
holder’s accounts.

The account holder’s account, or the electronic transmission or receipt of data or information relating to the account
holder’s ATM Card transactions or accounts, such as, without limitation:
a. in instances where the account holder is unable to use the ATM card or avail of any service due to disruption or
failure of the ATMs or other networks or communications facilities linking the same,
b. unauthorized or fraudulent access or utilization of the ATM card or any service including, but not limited to,
the improper designation of the account from which the transaction shall be debited or credited, or
c. any rejection, disruption, failure or delay relating to the use of the ATM card or availment of any service where
such rejection, disruption, failure or delay is due to circumstances beyond the Bank’s reasonable control.

The account holder agrees that by using the ATM card in ATMs outside the Philippines, the processing of the ATM
Card transactions shall be subject to the collection, storage and communications of all data (such as account balance)
relating to the account holder’s accounts, and the processing of the transactions may be performed, in whole or in part,
electronically. Hence, apart from the Bank, there may be other entities which will have access to, and may have to
collect, store or communicate, data relating to the account holder’s accounts in the processing of the ATM card
transactions.

Whenever, the account holder uses the ATM card in ATMs outside the Philippines, the account holder consents to:
a. The collection, storage, communication and processing of all pertinent data, such as account balance, by any
means necessary to maintain appropriate transactions and account records;
b. The release and transmission of all these necessary data to participants and the processors in the network;
c. The retention of these data by the network; and
d. The compliance of the network with all applicable laws and regulations governing disclosure of information to
which they are subject.

International fees shall also apply, as determined by the international network where the transactions were coursed
through.

POS Usage and Online Transactions

The ATM card may be used in POS terminals, as well as online merchants. The Bank is not liable for any loss or
damage from unsuccessful transactions through POS terminals or through online merchants. Corresponding
transaction fees shall be implemented for such transactions.

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

Card Validity
The card shall be valid from the day of issuance or renewal, and expires on the last day of the month indicated on the
face of the card. Card renewal may be initiated by the cardholder through the Branch. Card renewal is subject to the
submission of complete requirements.

Lost or Stolen Card

The customer has an obligation to report to the Bank any case of lost or stolen card. The Lost Card Protection Feature
absolves the cardholder from any financial liability in case the card is used for fraudulent purposes but only from the
time the loss was reported to the Bank. The Bank may issue a new card to the customer, upon payment of
corresponding fees.

Card Replacement
The cardholder can request for card replacement through the Branch. Documentary requirements need to be submitted,
depending on the reason for replacement. Corresponding fees and charges may apply.

Captured Card
Captured cards that are unclaimed for three (3) days will be destroyed without need of notifying the customer.
Replacement for destroyed cards may be issued to the customer upon payment of necessary fees.

ADDITIONAL PROVISIONS FOR TIME DEPOSIT ACCOUNTS (Including Peso,

US Dollar Optimizer and other Time Deposit products.)

Opening of Account
A Time Deposit Account may be opened at any branchor atthe head officeby:
a. an individual; or
b. two (2) or morepersons jointly, who is/are
c. two (2) or morepersons jointly, who is/are
d. a juridical entity, in the name of a corporation,partnership, association, or other juridical entities.

The branch/head office unit where the account was opened serves as the maintaining branch/unit. Unless allowed
under existing laws and regulations, the Time Deposit Accounts shall be maintained in the depositor/s’ true and full
name.

Certificate of Time Deposit

The Certificate of Time Deposit (CTD) is issued upon deposit / placement and can also be used as loan collateral.

The CTD cannot be assigned or transferred without prior written consent of the Bank. Possession or presentation of
CTD will be subject to final verification against the Bank’s official records. The Bank’s records regarding the account
shall always prevail in case of any conflict.

In case the original copy of the CTD is lost, the Depositor shall immediately notify the Bank by submitting a duly
notarized Affidavit of Loss. Such notice shall discharge the Bank from any liability for refusing payment in case of
presentation of such lost CTD.

Interest
Interest rates are decided by the Bank and may vary depending on the approved interest rates schedule.

Interest Payment and Computation

Interest is paid upon maturity, or termination of the deposit, unless otherwise specified. Interest computation is based
on principal amount and term and is subject to applicable withholding tax. Interest shall be computed from value date
to maturity or termination date (days accrued).

Gross interest computation shall be:

Principal x Interest Rate x No. of Days Accrued

Applicable Day-Count Convention

Termination of Time Deposit
Termination of, or withdrawals for TDs shall be accepted upon presentation of the CTD duly signed by the Depositor
at the maintaining branch/unit. In case the placement, or part thereof, is withdrawn before maturity, the Time Deposit
Account will be closed and the prevailing savings deposit rates, depending on the type of Time Deposit Account, shall
be used as basis for computation; provided that, if the interest had been paid in advance, the corresponding rebate shall
be charged against the placement.

The Bank, however, shall collect processing and administrative fees to cover expenses incurred, including
documentary stamp tax, if any.

Fees and charges may apply if the depositor chooses to receive the proceeds through another mode of settlement (e.g.
MC, Demand Draft or withdraw the proceeds and transfer funds electronically through telegraphic transfer or outward
transfer). The fee is waived for TD proceeds applied in full for MC or Demand Draft stating the same payee/s as
reflected in the CTD.

Renewal of Time Deposit

The depositor may also renew/rollover the Time Deposit through the maintaining branch/head office unit in
accordance with the Bank’s guidelines. The Bank’s records pertaining to the renewal shall be valid and binding against
the depositor unless the depositor notifies the Bank in writing of any error therein within three (3) banking days from
receipt of renewal confirmation details.

For partial rollovers and additional deposits, the Time Deposit Account shall be closed. The proceeds shall be credited
to the settlement account while the amount to be rolled over shall be processed as a new placement.

Non-renewal of Time Deposit

If the Time Deposit is not withdrawn / renewed on its maturity date, the same shall be deemed terminated and shall
automatically earn interest at savings deposit prevailing rate on a per annum basis from the date of maturity to the date
of actual withdrawal or renewal.

Cooling-off Period
Depositors shall be provided two (2) banking days cooling-off period, immediately following the signing of any
agreement or contract, particularly for financial products or services with a long term savings component (more than
one (1) year) or those subject to high pressure sales contracts. Cancellation of the Time Deposit or withdrawal of funds
after the prescribed period is considered pre-termination and is subject to applicable fees and charges.

Depositors shall be permitted to cancel or treat the agreement as null and void, without penalty, subject to submission
of written notice of cancellation, within the cooling-off period.

The Bank, however, shall collect processing and administrative fees to cover expenses incurred, including
documentary stamp tax if any.

The Bank shall not be liable for any loss arising from the depositor’s exercise of the cooling-off rights. The right to
cooling-off shall not apply where there has been a drawdown of a credit facility.

Time Deposits are further subject to the terms and conditions contained in the CTD, Product Description or other
documents that the Bank may require the depositor to execute in relation to his placement/s.

CHANNELS FOR SERVICES

Online Banking
UnionBank Online Banking is a facility that allows customers to access their accounts and to perform various
transactions online. These include viewing of account details, account balance, buy loads, bills payment and fund
transfer using smartphone, tablet, laptop or personal computer or any channel or medium where UnionBank's Online
Banking facility is made accessible by the Bank.

The online banking services of the Bank are accessed through the Internet, which is a public system over which the
Bank has no control. It is the account holder’s duty to ensure at all times that any personal computer or other device,
which the account holder uses to access the Bank’s online banking services, is free from and adequately protected
against acquiring computer viruses and other destructive or disruptive components. The account holder is solely
responsible for the performance and protection of any browser used in connection with the Bank’s online banking
services including the prompt adoption by the account holder of all security patches and other security measures issued
or recommended from time to time by the suppliers of such browsers.

Communication by the Internet may be affected by factors beyond the Bank’s reasonable control, including but not
limited to a breakdown or failure of communication facilities, inherent technological deficiencies, network traffic
congestion or any blockage, interruption, delay, corruption or Interception of such communication.

The account holder acknowledges and agrees that such factors may cause the following to happen:
a. failure or delay in the online banking service of the Bank or receipt of instructions;
b. failure or delay in the execution of instructions from those prevailing at the time they were given; or
c. inability to execute instructions at prevailing quoted prices/rates or at any “at best” or at “market prices/rates”.

The account holder is responsible for the ownership and maintenance of the online account. The account is further
subject to the Bank's terms and conditions regarding the Online Banking facility, which is available in the UnionBank
Online Banking website, www.online.unionbankph.com.

DISCHARGE OF OUR LIABILITIES

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 whatever nature that the depositor may suffer in connection with the use of the Bank's
systems, due to any fortuitous event, typhoons, floods, public disturbances and calamities, or any act or circumstance
beyond the control of the Bank, such as but not limited to:
a. prolonged power outages, breakdown in computers and communication facilities, and other similar cases;
b. inaccurate, incomplete or delayed information is received by the depositor due to disruption or failure of any
communication.

In any action arising from this Agreement or any incident thereto which the customer or any other party may file
against the Bank, the Bank’s liability shall not exceed One Thousand Pesos (PHP1,000.00) in Philippine currency or
the actual damages proven whichever is lesser. The Bank shall be under no liability to the customer in respect of any
loss or damage arising directly or indirectly from:
a. Any loss or damage howsoever incurred or suffered by the customer by reason of the Bank’s refusal or the
refusal of other financial institutions or third parties, to allow a Card Transaction or to accept the Card or the
PIN or to provide Cash Advance up to the Credit Limit or at all;
b. Refusal of any merchant Affiliate of member institution of Mastercard or VISA International to honor the Card;
c. Any defect or deficiency in the goods or services supplied to the customer by any Merchant Affiliate or, where
applicable, for any breach or non-performance by a Merchant Affiliate or a Card Transaction;
d. Malfunction of any ATM or disruption of communication systems;
e. Exercise by the Bank of its right to demand and procure the surrender of the Card prior to its expiry date,
whether such demand and surrender are made and/or procured by the customer or by any other person or ATM.
f. Exercise of the Bank’s right to terminate any Card or the Card
g. Account pursuant to the Termination Clause hereof.
h. Any injury to the customer’s credit character and reputation arising from the repossession of the card, any
request or demand for the surrender of the Card, or the refusal of any person to honor or accept the Card;
i. Any misstatement, misrepresentation, error or omission in my Statement of Account;
j. Any dispute between the customer and any Merchant Affiliate or financial institution or any other person. The
customer’s liability to the Bank shall not be adversely affected by any such dispute or by any counterclaim or
right of set-off which the customer may have against such Merchant Affiliate or financial institution or other
person.
k. Any loss or damage that may be incurred or suffered by the customer due to the acts or omissions of service
providers engaged by the Bank.

In all other cases not specifically provided under these terms and conditions, the usual customs and procedures
between the Bank and the customer, the existing rules and regulations, policies and circulars (and those that may be
issued from time to time) by the BSP, Banker's Association of the Philippines (BAP), the Bancnet relative to ATM
banking, phone banking, or similar electronic transactions, and relevant laws and regulations affecting US dollar
accounts, shall be taken into consideration in the operation and maintenance of the account and in resolving issues
involving transactions between the Bank and the customer.

The customer holds the Bank free and harmless from any 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 government which the Bank is
bound to comply with or strictly implement.

Liability Limits
The Bank will not be liable for any loss, damage (including special, indirect or consequential damages) or delay
resulting from any force majeure event, including failure, error, malfunction or inaccessibility of any of the Bank’s
systems and machines.

The Bank’s liability for oversight, operating errors and similar acts of inadvertence shall be limited to duly proven and
established damages only but in no case exceed PHP10,000.

OTHER PROVISIONS

Phishing
The customer understands that account/s may be compromised through phishing.

Phishing is a high-tech online scam that seeks to steal credit card numbers, account information, SSS numbers,
passwords, and other sensitive information from the Bank clients. This is done by using fake e-mails, fraudulent
Internet addresses, impostor websites, and “pop-ups”, to impersonate the Bank and trick clients/account holders into
disclosing their personal data, which is then used by unauthorized persons to withdraw money from the account/s
using the unique ATM/Debit Card PIN.

The account holder is advised that many of the elements of phishing attacks are beyond the control of the Bank
because the activity is directed against individual users and their personal computers (PCs) as well as targeted against
utility companies, retailers, etc., that use and retain financial information of their customers who may happen to be
account holders or clients of the Bank.

The account holder/s acknowledge that that they were provided by the Bank, at account opening an awareness briefing
on phishing, circumstances that enable phishing to occur and the indispensable role that the customer plays in its
consummation.

The Bank never asks for the personal information such as the account number, password, and PIN. Customer must be
cautious and should not be tricked into giving through email and fraudulent website.

The account holder is advised to be vigilant at all times and observe the following phishing prevention tips:
a. be suspicious of any e-mail with urgent request for personal information;
b. be careful of e-mails that are not personalized (sent in bulk) and/or contain spelling errors and awkward
phrasing;
c. be careful and suspicious of personalized e-mails that ask for personal financial information, and note that the
Bank will never ask for personal financial information of account holders by e-mail;
d. do not use links in e-mail messages that ask for personal information;
e. regularly log on your online account/s and check your Bank, credit and debit card statements to ensure that all
transactions are legitimate, and
f. ensure that your Internet browser is up to date and that the most recent security updates have been promptly
applied.

The account holder agrees to cooperate, through all reasonable means, with the Bank’s efforts to prevent phishing.

The account holder shall ensure the confidentiality of the account and card information, personal information, and card
PIN, and it is the account holder’s responsibility to ensure at all times that these confidential information are not
disclosed to unauthorized person/s, institutions, or websites.
The account holder/s agrees that they are held wholly liable for any and all future withdrawals from their account/s
that may result from phishing.

The account holder further agrees to indemnify and hold the Bank, its officers, directors, employees, agents and
representatives free and harmless against any and all losses, damages, penalties and liabilities of any kind.

Reporting of Lost/Stolen ATM Card/Unauthorized ATM Transactions

The Cardholder shall immediately report if the card is lost or stolen, or there are unauthorized debit transaction/s or
other type of contingencies to UnionBank by calling the Bank’s Customer Service:
Customer Service: 84-186 or +63 2 8841-8600
Domestic Toll Free: 1800-1888-2277
Universal Toll Free: IAC+800-8277-2273
Trunkline: +63 2 667-6388

or to his/her Maintaining Branch. Prior to receipt by UnionBank of account holder’s report of loss / theft /
unauthorized transaction/s, all transactions generated by the use of the card shall be deemed conclusively binding on
the account holder and UnionBank will not be held liable for any loss or damage incurred by the account holder.

Upon receipt of such occurrence, the Bank shall immediately tag the card as “Hot Card” to restrict further access to the
account. The Cardholder shall further be advised to replace the ATM card to prevent from further unauthorized debit
transaction.

Other unauthorized transactions due to the following fraud scheme shall be handled as follows:

Bank
Fraud Scheme
Accountability
Clone Card due to Skimming No
Ruler Gang Yes
Good Samaritan (Simple, Glued, Lebanese) No
Malicious Claim No

Cardholder shall be informed about the possible investigation charge of PhP1,000 should the claim/complaint be
proven malicious and untrue.

AMLA Reporting
The account holder authorizes the Bank to make the necessary verifications, records, reports, submittals and other
processes, as well as perform such acts for the purpose of complying with the Anti-Money Laundering Act (Republic
Act No. 9160, as amended), its implementing regulations, and other laws or rules regulating the accounts and the
account holder hereby waives corresponding 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 for this purpose.

Cut-off Times
Different cut-off times apply for the processing of different instructions. If instructions are received beyond the set cut-
off time, it will be processed during the next banking day.

Foreign Account Tax Compliance Act (FATCA) - Deposit

The Bank reserves the right to block any payment or transaction on the account that will result in the Bank, any of its
affiliates or its third party service provider/s, or any Payment Infrastructure Provider being in breach of any
requirement under FATCA, similar domestic or foreign legal requirement or agreement.

For the purpose of this agreement, "Payment Infrastructure Providers" refers to any third party that forms part of the
global payment systems; "FATCA" refers to section 1471 to 1474 of the United States Internal Revenue Code or any
associated regulations or official guidance; "IGA" means any intergovernmental agreement between the US and any
other jurisdiction, or any treaty, law, regulation or official guidance relating to an IGA, that facilitates the
implementation of FATCA; "FFI Agreement" means any agreement pursuant to the implementation of FATCA or an
IGA with the US Internal Revenue Service, the US Government or any other Authority.

The Bank, any affiliate, or third party service provider reserves the right to withhold or deduct an amount for any
applicable tax, duties, or other lawfully collected amounts ("Collected Amounts") which are required to be withheld or
deducted to comply with any law or regulation of any domestic or foreign jurisdiction, or any agreement entered into
with or between any authority, as required. Any Collected Amount will be timely paid to the relevant authority as
required. The Bank will notify the customer of any Collected Amount as soon as reasonably possible. The customer
acknowledges that the Bank will not be required to reimburse any amount withheld or deducted by a Payment
Infrastructure Provider.

Further, if the Bank, any affiliate, or third party service provider pays or are required to pay an authority from their
own funds to settle an amount that should have been, but was not a Collected Amount, the customer shall pay the
amount, plus any applicable interest and penalties. The customer understands that the Bank is not required to contest
any demand made by an Authority for such payment.

CONSENT TO PROCESSING AND CUSTOMER INFORMATION UPDATE

By signing below, the depositor(s) authorize(s) and consent(s) to the processing, sharing and/or transferring by Union
Bank of the Philippines (the “Bank”) of his/her/their Personal Data as this term is defined under the Data Privacy Act
and its Implementing Rules and Regulations ("DPA IRR") and all other issuances of the National Privacy Commission
(NPC), or otherwise, relating to his/her/their account(s) to any of the following for any of the specified purposes which
in all cases are in compliance with or pursuant to the Bank's legal or contractual obligations:
a. government regulatory agencies, credit information/investigation companies, financial institutions, credit
bureaus, other banks, credit card companies, loyalty program partners, consumer reporting or reference
agencies such as Credit Card Association of the Philippines, Bankers Association of the Philippines, Credit
Information Corp. and the Trans Union Credit Bureau for the purpose of credit investigation, consumer
reporting, or for reports of his/her/their credit history and account updates;
b. third persons, correspondent banks, service providers and entities as the Bank deems necessary, to enable the
Bank to service his/her/their account/s and to provide all the existing features of his / her / their account/s, the
Bank products, services, facilities and channels, and any future enhancements thereto or to assist the Bank in
the processing of his/her/their data, including its collection, recording, organization, storage, management,
protection, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or
destruction;
c. third parties engaged by the Bank or by its subsidiaries or affiliates for the purpose of direct/indirect marketing
to offer selected products and services which may interest the depositor(s) unless specifically instructed
otherwise in writing or
d. insurers, insurance brokers, or providers of deposit or credit protection or protection against all kinds of risks;
e. regulatory authorities when such other persons or entities the Bank may deem as having authority or right to
such disclosure of information as in the case of regulatory agencies, governmental or otherwise, which have
required such disclosure from the Bank and when the circumstance so warrant.

The depositor(s) understand/s that Personal information refers to any information, whether recorded in a material form
or not, from which his/her/their identity is apparent or can be reasonably and directly ascertained by the entity holding
the information, or when put together with other information would directly and certainly identify the depositor(s).

Depositors agree that they are fully aware that the Bank collects his/her/their personal information from any of the
following sources:
a. Personal Information Sheet or other form duly accomplished by depositor(s) as requested by the Bank;
b. Information collected about depositor(s) when he/she/they contact/s the Bank or the Bank contacts the depositor
(s) through the hotline, via email, mobile applications or services, online platforms and otherwise; and)
information collected about the depositor(s) from other commercially available sources or recorded
communication.

Depositor/s authorize/s the Bank and/or its authorized representative to, when deemed necessary or relevant by the
Bank,
a. pursuant to BSP Circular No. 472 Series of 2005 as implemented by BIR Revenue Regulations RR-4-2005,
conduct random verification with the Bureau of Internal Revenue in order to establish authenticity of the
Income Tax Returns (ITR), accompanying financial statements and such other documents/information/data
submitted by the depositor(s), and/or
 b. obtain or disclose such information regarding the depositor(s) or the loan/credit facilities applied for hereunder
to any party as the Bank may deem necessary or as may be required or allowed by applicable laws, rules and
regulations.

Depositor/s authorize/s:
a. the regular submission and disclosure of his/her/their basic credit data (as defined under Republic Act No. 9510
and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any
updates or corrections thereof for purposes of including said basic credit data in a centralized credit information
system as mandated by law; and
b. the sharing of his/her/their basic credit data with Accessing Entities as defined in Republic Act No. 9510 and its
Implementing Rules and Regulations authorized by the CIC, and credit reporting agencies duly accredited by
the CIC.

Depositor(s) is/are aware that his/her/their personal information is collected and shared for purposes of providing the
service, product and/or facility depositor/s has/have applied for or agreed to obtain from the Bank, or for purposes of
complying with relevant government or legal mandate or requirement, Depositor/s hereby consent/s to the disclosure
required by such product, service of facility to the enumerated third parties above and further authorize the Bank, its
officers, employees or representatives and third parties as enumerated above, to obtain verify and review the
information that he/she has provided and to use and process the same in evaluating his/her/their applications to avail of
the Bank’s products and/or services, which include a broad range of credit, deposit and other financial products.
Depositor/s likewise authorize/s the collection of his/her/their personal, use and processing, directly by the Bank or
through its authorized third party service providers, business partners, consultants or advisers, which have satisfied the
Bank’s requirements of corporate legal, information security, and data privacy, to either improve the Bank's product or
service to me/us or the public in general or to market any other product, service or facility of the Bank which the Bank
may determine to be of interest to me/us.

Depositor/s agree/s that his/her/their authorization and consent as provided herein has been executed freely, voluntarily
and with full knowledge of its consequences. It is intended to be the consent and/or permission required under the
DPA IRR, RA 1405 or the Bank Secrecy Law and all other relevant laws for the purposes specified above. It is valid
as an agreement signed by the depositor/s and shall have continued effect throughout the duration of depositor/s
relationship with the Bank and/or existence of my account(s), and/or until the expiration of the retention limit set by
laws and regulations, and/or the period set until the destruction or disposal of records as mandated by relevant laws,
unless depositor/s withdraw/s such authorization and consent in writing.

Depositor/s agree to render the Bank, its officers, employees and representatives free and harmless from any and all
liabilities arising from the above use and disclosure of his/her/their information.

Depositor/s certify/ies that the information he/she has/have provided in the Personal Information Sheet (PIS) or other
form or document as required by the Bank is true, correct and complete and he/she agree/s to immediately and/or
periodically update the same should there be any change, mistake or inaccuracy thereon. Depositor/s fully understand/s
that said information may be used by the Bank to provide the service, product or facility the depositor has applied for
or agreed to obtain from the Bank. Depositor/s understand/s that the contact information provided shall be used for all
correspondences between depositor and the Bank unless depositor/s notify and promptly advise the Bank in writing of
any change on said contact and other personal information.

Depositor acknowledges that he/she has read, understood and fully agree with the Bank’s Privacy Policy as found in
www.unionbankph.com/online/privacy-policy and receipt of which he/she confirms by his/her/their signature/s below.

Depositor/s allow/s the Bank to keep his/her/their personal information only for as long as it is necessary:
a. for the fulfilment of the declared, specified, and legitimate purposes provided above, or when the processing
relevant to the purposes has been terminated; or
b. for the establishment, exercise or defense of legal claims; or
c. for legitimate business purposes, which shall be in accordance with the standards of the banking industry.
Depositor authorize/s the Bank to dispose his/her/their personal information in a secure manner in order to
prevent further processing, unauthorized access, or disclosure to any other party.

The account holder is responsible for the electronic notification received; as such, the Bank is free and harmless from
any liability if the information contained in the electronic notification is, by any means, accessed by any person other
than the customer.
Customer Information Update
The Bank shall be promptly notified of any change in information of the customer (e.g. change in address or contact
information), otherwise, all correspondences shall be based on the information shown on the Bank's record.

The customer shall be required to update customer information at least once every three (3) years or more often as
deemed necessary by the Bank in accordance with its internal policies, rules or regulations.

Changes in authorized signatory/ies are allowed only upon receipt by the Bank, of a written request from the account
holder.

For corporations, associations, 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 customer's specimen signatures on file.

AGREEMENT TO BE BOUND
These Terms and Conditions shall be applicable to UnionBank deposit accounts. These are supplementary to specific
terms and conditions of other UnionBank products and services availed of by the customer.

The Bank reserves the right to adopt policies, rules, and regulations from time to time, as the need arises. The Bank
also reserves the right to amend, in whole or part, any of the products and services and its corresponding terms and
conditions. The customer hereby consents to said policies, rules, and procedures, and agrees to abide by them.

If the customer continues to operate the account after receiving the notification of changes in these Terms and
Conditions, it is assumed that the customer agrees with the modifications.

Venue of any action arising from or related to these Terms and Conditions shall be brought only in the proper courts of
Pasig City, Philippines, to the exclusion of any other venues.

In case any provision or portion of these Terms and Conditions is declared invalid or unenforceable for any reason or
should the Bank decide to terminate or cancel any of the products or facilities or services which it provides, it shall not
affect the other provisions of these Terms and Conditions which shall remain valid and binding.

COMPLAINTS HANDLING
In case of any concerns, complaints, errors or requests, the customer may visit the nearest UnionBank branch and
contact the UnionBank Customer Service through the following numbers:
Customer Service: 84-186 or +63 2 8841-8600
Domestic Toll Free: 1800-1888-2277
Universal Toll Free: IAC+800-8277-2273
Trunkline: +63 2 667-6388

The customer may also send an email to customer.service@unionbankph.com or submit the complaint via the
UnionBank website.

The Bank’s Customer Assistance Officers (CAO) shall explain the Consumer Assistance process and shall then
provide a reference number upon receipt of complaint for complaint resolution monitoring and timelines depending on
the type of concern/complaint/request (i.e. simple or complex).
Simple complaint/request refers to any complaint/request where frontline staff/officer solution or immediate
explanation or action can be rendered. A resolution is immediate if it can be resolved without the need for third
party intervention. Resolution must be achieved within a 7-day period.
Complex complaint/request refers to any complaint/request which needs assessment, verification, or
investigation with third-party intervention. Resolution may be achieved ideally within a 45-day period.

If during assessment and investigation of complex complaints/requests that cannot be completed within the expected
time frame; the Bank’s CAO shall inform the customer or complainant through given contact information as to:
a. Reason why resolution cannot be completed within the timeframe provided.
b. The need for extended time frame.
c. The expected date (not to exceed 45 days) on which the complainant may expect the resolution.
d. The customer or complainant shall be informed by the Bank thru its CAO upon resolution of the complaint.
By my signature herein, I acknowledge that I have read, understood and fully agree with the UNIONBANK
TERMS AND CONDITIONS with which I was duly provided, receipt of which I confirm by my signature
below.

JOHN STEPHINE BERMUDEZ October 24, 2019

SIGNATURE OVER PRINTED NAME DATE