Terms and Conditions

BANCNET ONLINE TERMS AND CONDITIONS OF USE


The following Terms and Conditions must be accepted and agreed to by all users of BANCNET ONLINE. Please review these terms and conditions carefully and indicate whether you agree to them by clicking on the 'I Agree' button on the screen, then click on the 'Submit' button to proceed to the User Profile Creation. Click on the 'Cancel' button should you decide not continue using BANCNET ONLINE.

DEFINITION OF TERMS. For clarity, the following terms shall be defined:

"You", "Your" and "Yours" will refer to you as the BancNet Cardholder who uses the services available in BANCNET ONLINE.

"We", "Us" and "Our" refer to BANCNET, INC.

"System" refers to BANCNET ONLINE.

"ATM" refers to an Automated Teller Machine

"your ATM Card" refers to the card used or to be used by you to access BANCNET ONLINE for the operation of certain functions and to access the System,

"your Bank" refers to the bank which has issued your ATM card.

"your Card Number" refers to the number of your ATM card

"PIN" is your personal identification number which is the set of numbers or numeric characters that has to be entered into an ATM for it to recognize or accept your ATM Card.

"One Time PIN" or "OTP" is a one-time Personal Identification Number (PIN) sent via SMS, email, or other form of communication to your mobile phone number or email address on record or other contact details in our system, or generated by a registered BANCNET ONLINE Mobile Banking Application. An OTP is necessary for you to be able to authorize certain qualified transactions.

"Qualified Transactions" are transactions, as determined by us, which require an additional level of security through the entry of the OTP.

  1. ACCEPTANCE

    By using BANCNET ONLINE, you have accepted and agreed to be bound by all operational rules and general terms and conditions governing BANCNET ONLINE, including without limitation all the following paragraphs, and to pay any fees associated with the use of BANCNET ONLINE. You likewise agree to be bound by any and all laws, rules, regulations and official issuances applicable to BANCNET ONLINE, now existing or which may hereinafter be issued, as well as such other terms and conditions governing the use of other facilities, benefits, products or services which we may make available to you in connection with BANCNET ONLINE.

  2. USER ACCESS
    1. When you choose and click on "I Agree," you are conclusively presumed to have signified your confirmation that you have read and understood the BANCNET ONLINE TERMS AND CONDITIONS OF USE and that you unconditionally bind yourself to all terms and conditions herein. In the event that your availment of a service, facility or benefit of BancNet Online will violate or result in the violation of your agreement with your Bank, you will not avail yourself of such service, facility or benefit of BANCNET ONLINE.
    2. A BANCNET ONLINE Username, Password, and a set of Personal Information assigned by you shall enable you to be connected to our data and operation system (the "System") to have direct access to your Accounts in your Bank or to effect banking transactions via the use of personal computers, mobile phones or similar access devices.
    3. However, BANCNET, INC. and your Bank reserve the right to give you access to BANCNET ONLINE with your use of an Internet-enabled device, approved browser, and your Username and Password.
    4. Your access to BANCNET ONLINE through your internet service or network provider in the country from where the service is accessed is subject to and governed by the relevant laws and regulations of that country and of the Philippines, and by terms and conditions mandated by your internet service or network provider and by your ATM Bank in separate agreements with you. In the event of any irreconcilable conflict of laws, the laws of the Philippines shall prevail.
    5. You warrant and guarantee that the computer system, mobile phone, or access device that you use to access BANCNET ONLINE with your Username and Password are free from any electronic, mechanical, data failure or corruption, computer viruses and bugs. BANCNET, INC. and its member banks shall not be liable for any loss or damage caused by any third parties, including internet browser providers, internet service providers, their agents and sub-contractors, or by any computer or system virus interference or other harmful components that may interfere with your use of BANCNET ONLINE.
  3. SYSTEM AVAILABILITY
    1. We will have the absolute discretion to make BANCNET ONLINE available to you. We have the discretion from time to time to determine the scope of BANCNET ONLINE, set or change the daily cut-off time, modify, restrict, withdraw, cancel, suspend or discontinue any or all of the services without notice or responsibility to you and without giving any reason therefor.
    2. Some or all of the services of BANCNET ONLINE may not be available at certain times due to system maintenance and/or computer, telecommunication, electrical or network failure, instruction by your Bank or any other reasons beyond our control. We will notify you, through the Bancnet Online Page, of any scheduled maintenance or downtime. However, we will not be liable to you whenever access to some or all services of BANCNET ONLINE is unavailable or not possible.
    3. We shall not be liable to you if you are unable to gain access to the System. You understand that while BANCNET ONLINE is available 24-hours a day, some or all of the services may not be available at certain times due to maintenance and/or computer, telecommunication, electrical or network failure or any other reasons beyond our control.
    4. After suspension or cancellation, BANCNET ONLINE may be reinstated at our sole discretion.
    5. You understand that by using BANCNET ONLINE after any modification or change has been effected, you have agreed to any such modification or change.
  4. SYSTEM SECURITY
    1. While we have endeavored to put in measures to secure the System, we make no warranties as to the confidentiality, secrecy and security of any information sent out through any internet service provider, network system or other similar system via BANCNET ONLINE.
    2. In the case of Qualified Transactions, you will have to enter a One-Time PIN ("OTP") to authenticate you as the person initiating the transaction. This shall be either sent via SMS to your mobile phone number or email address on record in our system or generated by a registered BANCNET ONLINE Mobile Application, according to your preference.
    3. We shall be entitled to act on all instructions received through the System using your valid Username, User Password, OTP and PIN. You shall accept full responsibility for all transactions processed through the use of your Username and Password whether or not processed with your knowledge or by your authority.
    4. We are under no obligation to verify the authenticity or authority of persons effecting your instructions sent through BANCNET ONLINE nor check on its accuracy and completeness. Such instructions shall be deemed correct, complete, irrevocable and binding. You hereby accept full responsibility for all transactions executed via BancNet Online done with the use of your Username, User Password and OTP.
    5. You acknowledge that you have sole access to your account(s) through BancNet Online. As such, you agree to prevent unauthorized access to your account(s) by safeguarding your access information, which includes your Username, Password, One Time Pin, ATM Card Number and ATM PIN for your exclusive use by not letting anyone know of said access information, and by taking the necessary steps to prevent anyone from discovering them.
    6. You agree to assume full responsibility for all transactions made in your account through the use of your access information. You also agree that any instruction made in BANCNET ONLINE through the use of your access information shall be conclusively presumed to be done or authorized by you. Any such instruction shall be considered correct, complete, irrevocable, and binding upon you without need for us to verify the authenticity of such instruction.
    7. You further agree and undertake to change your Password from time to time as you deem necessary. You agree to immediately change your Password by performing the online password change function should you feel that it has been compromised.
    8. In the event you learn or suspect that someone else who knows your Username and Password has made unauthorized transactions, you may report the same to your Bank in accordance with your agreement with it. In any event, we shall not be answerable whatsoever for any transaction done with the use of your Username and Password, whether or not authorized by you.
    9. You likewise understand that for your own protection, we shall lock your BANCNET ONLINE Username should the wrong Password and/or OTP be entered three (3) times in one day. You may unlock your user account online through BANCNET ONLINE or through your Bank. Unless otherwise unlocked, you shall not be able to log-in to BANCNET ONLINE and thus, initiate any transaction.
    10. You agree that we may, without notice and without stating the reason therefor, cancel or refuse to execute any of your instructions at any time without incurring any liability.
    11. We shall be indemnified and not be held liable in any and all proceedings, claims, losses, damages or expenses, including legal costs that arise from any of the following conditions:
        1. Any of your instructions verified by us or by the System as conveyed with the use of your Username and Password;
        2. Any unauthorized use of BANCNET ONLINE, your Username and Password;
        3. Any loss or damage caused by any access through your Username and Password;
        4. Any loss or damage caused by any act or omission of your internet service, information service provider or network provider relative to the use of BANCNET ONLINE;
        5. Any loss or damage due to your interference or tampering with, or alteration or misuse of, or amendment to, BANCNET ONLINE.
    12. There is no responsibility on our part should communications facility malfunction have an effect on the timeliness or accuracy of the instructions sent. We shall however find a remedy for the malfunction on a best effort basis.
  5. ONE TIME PIN (OTP)
    1. You acknowledge and agree that your receipt of any OTP may be delayed or prevented by factor(s) affecting your mobile phone service provider(s) or Internet service provider(s) and other factors outside our control. We do not guarantee the delivery of your OTP. Except for gross negligence or serious misconduct solely and directly attributable to BANCNET, INC., you agree to hold BANCNET INC., our directors, officers, employees and agents free and harmless from any and all losses or damages, including attorney's fees, that may arise, directly or indirectly, in whole or in part, from:
        1. Non-delivery, delayed delivery, or the misdirected delivery of an OTP; and
        2. Your failure or inability to continue with your transaction in BANCNET ONLINE as a result thereof.
    2. You are responsible for keeping the OTP confidential. You shall not reveal your OTP to any other party and shall take all necessary steps to prevent disclosure or discovery of your OTP to/by any other party.
    3. You are likewise responsible for ensuring the security of the BancNet Mobile Banking Application on your mobile phone as well as the security of your mobile phone, email, customer terminal, and for keeping these protected from unauthorized use. You shall at no time and under no circumstances permit any One-Time PIN issued to you to fall into the possession or under the control of any other person.
    4. You shall be solely responsible and liable for all losses and consequences arising from or in connection with any failure by you to comply with any of the foregoing.
    5. We shall be entitled at our sole and absolute discretion at any time from time to time to cancel without notice the use, or require the replacement or modification, of the One-Time PIN generation via the BancNet Mobile Banking App, or other device, application, or delivery channel designated by us for use for the generation, delivery and/or reception of OTP without giving any reason therefor, and we shall not be liable to you for any loss or damage as a result thereof.
    6. The One-Time PIN generation via the BancNet Mobile Banking Application must not be altered, tampered with, reverse engineered, or in any way copied or modified, and must not be exploited in any way.
  6. FINANCIAL TRANSACTIONS
    1. You shall be liable for fees, charges and the like due on any and all transactions that you perform through BancNet Online. Such fees and charges are available from your Bank's branches or at your Bank's website. Your Bank, at its sole and absolute discretion, after giving due notice to its cardholders in accordance with the requirements set forth by the BSP, may impose new fees and charges for the transactions that you may avail of in BANCNET ONLINE.
    2. Only cleared and withdrawable balances of your account shall be considered for financial transactions such as transfers and payments. BANCNET ONLINE is under no obligation to proceed with transfers and/or payments if your account has insufficient funds or credit to fund the transaction.
    3. We shall not be responsible for any charges imposed on you or any other action taken against you by a payee arising from non-processing of your instruction due to any of the following reasons/conditions:
        1. Insufficient funds;
        2. Closed, blocked or dormant accounts;
        3. A court order or competent authority prohibits the account from being involved in financial transactions; and
        4. Reasons due to theft, malicious damage, strike lock-out, civil disturbance or any acts of force majeure.
    4. We shall not be responsible for checking the validity and correctness of the information you enter in BANCNET ONLINE.
    5. You accept full responsibility for the accuracy and completeness of the details of your transactions such as, but not limited to, account information, amounts, account numbers of third party payees, and any other information that you enter in BANCNET ONLINE. You further agree to waive any and all rights/remedies against BANCNET, INC. in connection thereto. You understand the corresponding risks entailed in using the BANCNET ONLINE and you agree that your use of the system is at your own risk and you shall assume all risks, errors, omissions, and delays incidental to or arising out of their use. Except for gross negligence or serious misconduct solely and directly attributable to BANCNET, INC., you agree to hold BANCNET, INC. and any of its directors, stockholders, employees, or representatives free and harmless from any and all actions, proceedings, claims, liabilities, damages, losses, taxes, expenses, fees, penalties, attorney's fees, and the like, of whatever kind and nature which you may incur directly or indirectly for:
        1. Delay or failure in effecting or performing any of your instructions related to any and all transactions made, the Bank's delay or failure in performing its obligations under this arrangement, or
        2. Your use of or inability to use BANCNET ONLINE due to causes not solely and directly attributable to us or beyond our control such as, but not limited to any mechanical defect or malfunction of computer hardware or software problems including bugs and viruses, disruption of communications or electrical facilities, equipment shutdown for repair or maintenance, or the occurrence of off-line conditions, or related incidental problems that may be attributed to a third party utility, telecommunications service, or information service provider, or in cases of riots, strikes, war, civil disturbances, natural disasters or calamities, fortuitous events, force majeure and other unforeseen events or emergencies;
        3. Inaccurate or incorrect entries, omissions, discrepancies, and unauthorized transactions that you were unable to immediately report to your Bank;
        4. Acting fraudulently or negligently, including failing to properly safeguard your access information and failing to report any unauthorized access, and consequently, for any unauthorized interception or use or wrong sending of data relating to you or to your account(s);
        5. Discontinuation or cancellation of your third-party accounts, subscriptions, or service coverage due to your fees remaining unpaid due to reasons beyond our control;
        6. Failure to verify or promptly report non-implementation of instructions submitted to the Bank;
        7. Your violation of any provision hereof or any of its warranties herein.
    6. You shall immediately report discrepancies noted by accomplishing the proper form or document as required by your Bank.
    7. In the event that you have provided any invalid or incorrect information or transaction details, including details with respect to accounts which you wish to be credited with payments and/or transfer funds to, you understand that we shall bear no liability for any loss or damage which you may suffer as a result.
    8. All transactions through BANCNET ONLINE done after your Bank's cut-off time, or on Saturdays, Sundays, and legal holidays shall be posted and treated by your Bank in accordance with your agreement with it.
    9. There will be an acknowledgement of the status of all your transactions and you may view, through the Transaction History Feature of the System, the last ten (10) BANCNET ONLINE transactions made within thirty (30) days preceding the viewing date.
  7. TRANSACTION DATE

    With the exception of bill payment transactions, all other transactions made on BancNet Online after the daily cut-off time shall be treated as a transaction of the next banking day or such other days as we may determine, and will be subject to our usual processing time, as may from time to time be amended.  For Bills Payment, your Bank sets its own cut-off schedule and processing time, which supersede our usual processing time.

  8. PROPRIETARY RIGHTS

    All trademark, trade name, service mark, patent copyright remain vested in us and may not be used, copied, modified without the proper notice in writing and consent from us.

  9. E-MAIL ADDRESS, MOBILE PHONE NUMBER, AND/OR NAME
    1. You are responsible for providing and maintaining an operational and available mobile number, email address, and other pertinent contact details as may be required by us or by your BANK, and you now authorize BancNet Inc. to send communications or notifications to you as necessary.
    2. The personal information that you are providing in BANCNET ONLINE should be the same information that you have in your Bank. Any difference in these details may delay the approval, or result in rejection, of your registration.
    3. Should there be any change in your contact or personal information, you shall immediately update your information in BANCNET ONLINE through the applicable maintenance function. You shall also change the information in your Bank through the usual process defined by your Bank.
    4. You understand that any change in your name or e-mail address or mobile phone number or other pertinent contact details will require approval from your Bank. You will not be able to transact in BANCNET ONLINE until such time that the change is approved by your Bank.
    5. We shall not be liable to you for any undelivered communications or notifications, or any cost that you may incur caused by your contact information not being current.
    6. We shall not be responsible for the consequences of your inability to receive your OTP or any other email or SMS as a result of your failure to timely update the change in your mobile phone number and/or e-mail address and/or other pertinent contact details.
  10. INDEPENDENT INTERNET SERVICE PROVIDER/COMPUTER TERMINAL
    1. You understand that any access to BANCNET ONLINE will be effected through the relevant internet service provider or network provider in the country from where such service is accessed, and to this extent such access will also be subject to and governed by the relevant laws and regulations of that country and any terms and conditions prescribed by such relevant internet service provider or network provider in separate agreements with you. In the event of any irreconcilable conflict of laws, the laws of the Philippines shall apply.
    2. You shall be responsible for all telephone charges and charges by any Internet service provider incurred in connection with the use of BANCNET ONLINE.
    3. You represent to the best of your knowledge that the customer terminal and any other computer system or access device through which access may be effected by the use of your BANCNET ONLINE Username, Password and your OTP are free from any electronic, mechanical, data failure or corruption, computer viruses and bugs.
    4. You agree that neither we, nor any of our officers and employees are responsible for any electronic, mechanical, data failure or corruption, computer viruses and bugs or related problems that may be attributable to the services provided by any relevant internet service provider or information service provider.
  11. SEVERABILITY CLAUSE

    Should any of the terms and conditions herein be held invalid, the legality and enforceability of the remaining terms and conditions shall not in any way be affected or impaired.

  12. INDEMNIFICATION

    We shall not be liable for, and you agree to indemnify and keep us indemnified, against any and all proceedings, claims, losses, damages or expenses (including legal costs) arising from or in connection with the following:

    1. Our action upon any instructions which are identified by any use of your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP;
    2. The improper or unauthorized use of your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP;
    3. Any damage to the customer terminal, related facilities or software as a result of any access to BANCNET ONLINE through your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP;
    4. Any loss or damage caused by any access through your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP, when the same is prohibited, restricted, delayed or otherwise affected by (i) any law or regulation of the country from where BANCNET ONLINE is accessed and/or the terms and conditions prescribed by the relevant internet service provider or information service provider in such country of access; or (ii) any law or regulation of any jurisdiction, regional or international authority which governs any use of any component of BANCNET ONLINE, any relevant internet service provider or information service provider or system;
    5. Any loss or damage caused by any act or omission of any relevant internet service provider or information service provider or network provider occasioned by any access through your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP;
    6. Any loss or damage caused by any modification, alteration, upgrade or termination of BANCNET ONLINE occasioned by any access through your BANCNET ONLINE Username, Password, Card Number, PIN and your OTP;
    7. Any access (or inability or delay in accessing) and/or use of any browser which we provide to allow access to BANCNET ONLINE;
    8. Any non-delivery, delayed delivery, or the misdirected delivery of an OTP due to factors affecting your mobile phone service provider(s) or Internet service provider(s) and other factors outside our control, and your failure or inability to access your BANCNET ONLINE account as a result thereof.
  13. LIMITATION OF LIABILITY

    Subject to the provisions herein, if we are found liable for any act or omission for any reason whatsoever, our liability shall be limited to the service fee charged to you.. We shall not be liable to you for any actual, indirect, special or consequential loss or damages arising in any way out of the use of BANCNET ONLINE.

  14. DISCLOSURE OF INFORMATION

    We shall disclose your personal and account information to your Bank for purposes of verifying your identity, accuracy of your contact information and ownership of the account.

By pressing the "I Agree" button, you acknowledge that you have read and understood the BANCNET ONLINE User Agreement, and you agree unconditionally to be bound by the terms and conditions of the BANCNET ONLINE User Agreement and all amendments, revisions and additions which we may at our absolute discretion effect from time to time.