Debit card

1. Agreement of Terms and Condition: By using the Debit Card issued by Top Bank Philippines, Inc. (A Rural Bank), TOP BANK for brevity, the Cardholder is acknowledging their acceptance of this Agreement and agreeing to abide by the Terms and Conditions set forth by TOP BANK for its various PRODUCTS, SERVICES, FACILITIES, AND CHANNELS. It is understood that the Cardholder is fully aware of the associated risks that come with using these products, facilities, services, and channels.
2. Card Ownership: The Debit Card provided by TOP BANK shall always remain the property of TOP BANK. It is intended for the Cardholder’s exclusive use and is non-transferable.
3. Card Activation: The Cardholder is required to activate their Debit Card by selecting their Personal Identification Number (PIN) at any TOP BANK ATM as soon as the Cardholder receives their Debit Card. Full access to the Cardholder’s Account using the Debit Card will only be granted once the Cardholder has successfully chosen a Personal Identification Number (PIN).
4. Liability: The Cardholder shall assume full responsibility for all transactions processed using the ATM and/or Debit Card, whether or not processed with the Cardholder’s knowledge or authority unless the loss or damage is directly caused by the gross negligence or willful misconduct of TOP BANK. TOP BANK shall debit the Card Account for withdrawals as per its records. TOP BANK can impose withdrawal limits at its discretion, regardless of the account balance.
5. Account Linking: A Debit Card issued to a Cardholder may be linked to multiple accounts provided that the accounts are linked to one Customer Information File (CIF) record. The number of accounts that can be linked shall be determined by TOP BANK. In case of multiple accounts, the Cardholder shall assign a Primary Account per type of account (i.e., one Primary Account for Current Account and another Primary Account for Savings Account). When transacting with other Bank’s ATMs, the Cardholder can only transact with the Primary Accounts. When using TOP BANK ATMs, the Cardholder shall have the option to select which account they can transact from.
6. Card Features: TOP BANK retains the authority to introduce or discontinue features or functions for all card variants or specific ones as it deems fit, subject to notification to the Cardholder sixty (60) days prior to the implementation of the new or discontinued card features.
7. Disputes: In the event of a disputed Debit card transaction, TOP BANK will conduct an investigation, which may involve various steps, including but not limited to, verifying transaction records, confirming details with the Cardholder, and consulting the network or merchant involved. Following a thorough investigation with prior notice to the Cardholder, TOP BANK is hereby authorized to automatically debit/credit the Cardholder’s Account and the merchant’s account in accordance with the results of the said investigation.
8. TOP BANK acts as a conduit for Bills Payment transactions. It is not responsible for discrepancies between the Cardholder and Payee. The Cardholder indemnifies TOP BANK against losses arising from such transactions.
9. Service and Other Bank Charges: TOP BANK can impose fees for card issuance, new services, maintenance, and may change existing charges within legal limits from time to time. The Cardholder authorizes TOP BANK to debit their account for these charges and fees. Please refer to Table of Fees and Charges.
10. TOP BANK can retain the Debit Card in cases such as account termination, reported loss or theft, or card damage. Reissuing the Debit Card is possible upon request, subject to TOP BANK’s conditions.
11. Subject to the terms of this Agreement, TOP BANK’s liability for loss or damage (if any) in connection with Card use will be limited to Cardholder’s proven actual damages. TOP BANK shall not be liable for any special, consequential or indirect damages suffered by the Cardholder from the use of the Card even if TOP BANK has been advised of the possibility thereof. This provision shall survive the termination or suspension of these Terms and Conditions.
12. The Cardholder comprehends and grants permission to TOP BANK that these terms and conditions associated with the Debit Card will be included in the TOP BANK's records. These records will be accessible for review and examination by relevant department heads and auditors from regulatory bodies such as the Bangko Sentral ng Pilipinas (BSP), AntiMoney Laundering Council (AMLC), Bureau of Internal Revenue (BIR), and other law enforcement agencies, as part of their mandated duties. As a result, the Cardholder provides their consent and authorizes TOP BANK to investigate and reveal their bank deposits and investments with TOP BANK. This encompasses matters covered by laws like RA1405, known as the "Act Prohibiting Disclosure of or Inquiry Into Deposits with Any Banking Institution and Providing Penalty Therefore," RA 6426 or the "Act Instituting a Foreign Currency Deposit System in the Philippines and Other Purposes," RA 8791 or “The General Banking Law of 2000,” RA 7653 or the "The New Central Bank Act," RA 10173 or “The Data Privacy Act of 2012,” RA 9510 or the "Credit Information System Act," and the Foreign Account Tax Compliance Act (FATCA), as well as related amendments and other applicable laws, regulations, and rules. The Cardholder hereby agrees to indemnify and keep TOP BANK and its directors, officers and employees, free and harmless from and against any and all claims, suits, actions or proceedings which may arise as a result of or in connection with the release and disclosure of the Cardholder information and/or Account information as set out above.
13. Compliance with Existing Laws: The Cardholder affirms that their use of the Debit Card is and will remain in compliance with all Anti-Money Laundering laws and other relevant statutes, rules, or regulations. By activating or utilizing the Debit Card, the Cardholder agrees to absolve TOP BANK, its Program Partners, and their respective directors, officers, employees, authorized representatives, agents, and service providers from any liabilities, damages, legal actions, or causes of action that may arise due to a violation of these laws, rules, or regulations. Additionally, in cases where TOP BANK reasonably suspects fraud, irregularities, or anomalies involving the Debit Card, TOP BANK reserves the right to immediately block its use, with or without prior notice, and initiate a prompt investigation. Furthermore, the Cardholder warrants that if they furnish TOP BANK with any personal information pertaining to an individual, the Cardholder has obtained the necessary authorizations and consent from that individual in accordance with applicable data privacy and confidentiality laws.
14. The Cardholder agrees to receive text messages and/or email notifications related to bank promos, services, products, and additional card terms. The Cardholder releases TOP BANK from any liability arising from such notifications. Additionally, the Cardholder consents to comply with the Data Privacy Act and its amendments.
15. TOP BANK strictly discourages the use of the Debit Card as collateral in any transactions, especially in non-traditional lending platforms. In the event of any risks arising due to a violation of this Agreement by individuals, TOP BANK holds no responsibility for fund recovery.
16. Governing Law and Venue: This Agreement will be governed by and interpreted in accordance with the laws of the Republic of the Philippines. Any dispute arising from this Agreement shall be exclusively brought before the competent courts in Makati City, Philippines.
17. Separability Clause: The overall effectiveness and legality of this Agreement, whether in its entirety or in part, will remain intact despite the temporary or permanent unenforceability or invalidity of any specific provision within it. This unenforceability or invalidity may result from restrictive laws, regulations, judicial or administrative decisions obtained at any point during the term of this Agreement, or for any other reasons.
18. Non-waiver of Rights: Any failure or delay by TOP BANK in exercising any of its rights or powers under this Agreement will not be considered a waiver of those rights or powers. Moreover, the partial or single exercise of any such rights or powers by TOP BANK will not prevent TOP BANK from further exercising those rights or powers or from exercising any other rights or powers under this Agreement. TOP BANK will not be deemed to have waived any of its rights or powers unless such waiver is expressed in writing and signed by its duly authorized representative(s). All remedies available to TOP BANK under this Agreement, as provided by law or otherwise, will be cumulative and not exclusive.
19. Assignment of Rights: TOP BANK may assign or transfer all its rights and interests under this Agreement without requiring the Cardholder’s consent.
20. Amendments: TOP BANK reserves the right to amend, revise, or modify this Agreement at any time, for any reason it deems appropriate. Any such change will become binding on the Cardholder upon notification (either through personal communication, publication, or other means), or on the specified effective date mentioned in the notice, whichever comes first. If the Cardholder disagrees with or does not accept any of these amendments, revisions, or modifications, they are required to terminate the use of their Debit Card. The Cardholder can do this by sending a written notice to TOP BANK and rendering their Debit Card unusable within thirty (30) calendar days from the notice of such changes. Failure to notify TOP BANK within the prescribed period will be interpreted as Cardholder’s acceptance of the amendments, revisions, or modifications to this Agreement.
21. Card Deactivation: TOP BANK has the prerogative to deactivate the Debit Card if the linked account is being used on illegal transactions.
22. Cardholder Identification: The Cardholder needs to provide the required information or fill out an application form for identity verification pursuant to RA 9194 or the “AntiMoney Laundering Act of 2001” and other relevant laws.
23. Cardholder Responsibilities: The Cardholder is responsible for Card safety and proper Card usage. The Cardholder shall immediately report the lost/stolen ATM and/or Debit Card to TOP BANK’s Customer care hotline at (02) 8230-8867 or to any Top Bank Business Centers. Prior to such report, all transactions made using the lost/stolen ATM and/or Debit Card shall be deemed conclusive and binding upon the Cardholder, and TOP BANK will not be liable for any loss or damage incurred by the Cardholder.
24. Blocked Cards: Permanently blocked Debit Cards cannot be reactivated. Replacements of Debit Cards are issued at a fee.
25. Defective/Damaged Cards: The Cardholder can request a free replacement for defective/damaged Debit Card within fifteen (15) banking days from purchase, provided the Debit Card's value remains intact.
26. Force Majeure: Debit Card use may be suspended due to circumstances beyond TOP BANK’s control, such as acts of God, war, or technical issues.
27. PIN: The Cardholder recognizes that their personalized PIN is known solely to them, and not to any other party, including TOP BANK. It is mandatory for the Cardholder to always maintain the confidentiality of their PIN. In the interest of the Cardholder’s own security, the Cardholder commits to never divulge their PIN to any individual. The Cardholder bears full responsibility for all transactions carried out with their Debit Card and PIN, whether these transactions were initiated with their knowledge or authorization. The Cardholder consents to absolve TOP BANK of any responsibility and liability for any losses, damages, or liabilities incurred or suffered due to the disclosure of their PIN.
28. Terms of Usage: Existing policies and agreements between the Account Owner and TOP BANK apply. Cardholders must follow applicable rules.
29. Other Agreements: Debit Card transactions must adhere to TOP BANK rules, including those for Deposit Accounts, ATM, and more.
30. Indemnification: The Cardholder agrees to hold TOP BANK, its directors, officers, employees, authorized representatives, agents, service providers, free and harmless from and against any and all liabilities, causes of action or suits of whatever kind and nature, claims, disputes, losses, damages, costs, fees, and expenses that may arise as a result of or in connection with: (i) their failure to uphold any of these terms and conditions, (ii) disclosure of PIN to any other party, (iii) entrusting their Debit Card to any third party, (iv) use of the Debit Card including all withdrawals, purchases, (iv) transactions made or incurred using the Debit Card, and/or (v) the implementation of these terms and conditions or the authorities conferred herein.
31. Amendments: Bank policies may change based on laws. The Cardholder is bound by such amendments.
32. Changes to Terms and Conditions: Changes will be posted on TOP BANK’s website (www.topbank.com.ph), and they take effect as indicated in the notice.
33. Governing Law: These conditions are governed by Philippine laws.
34. PIN Reset: In case the Cardholder completely forgets their PIN, the Cardholder shall be required to apply for a replacement Debit Card.
35. ATM Maintenance: TOP BANK will ensure that ATMs are available to cardholders as per the advertised schedule. Scheduled maintenance that may affect ATM availability will be communicated in advance through appropriate channels.
36. Customer Care Hotline: The Cardholder shall communicate with TOP BANK regarding any concern / complaint regarding ATM and/or Debit card transactions through the use of the following points of contact: Any TOP BANK Business Centers, Customer Hotline: (632) 8230-8867 or email: customer.services@topbank.com.ph. TOP BANK shall then conduct an investigation in accordance with its established procedures and shall notify the Cardholder of its findings. TOP BANK will provide timely feedback after it records and investigates such issues, concerns, and clarifications raised. The Cardholder agrees to fully cooperate in any investigation to be conducted in relation to their complaint by providing TOP BANK the required information and documents.
37. Top Bank Philippines, Inc. (A Rural Bank) is regulated by the Bangko Sentral ng Pilipinas (BSP) website: https://www.bsp.gov.ph, Tel No. (02) 8-708-7087 and email: bspmail@bsp.gov.ph

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