Auto Debit Arrangement and Auto Credit Arrangement
Learn more about Auto Debit Arrangement and Auto Credit Arrangement for BDO Securities, Treasury Group Products and Credit Card.
Terms and Conditions
I/We hereby agree to be governed by the following terms and conditions:
- I/We hereby acknowledge that my/our enrolled deposit account is the designated settlement account where payments for or in connection with the Clients’ securities/investment transaction(s) (the “Transactions”), made by the Payee as the Clients’ broker under the Master Brokerage Appointment Agreement, shall be debited upon instruction of the Payee.
- I/We hereby expressly authorize the BDO Unibank, Inc. (the “Bank”) to automatically debit from time to time, without need of any further act and deed, from my/our enrolled deposit account(s), the amount(s) due to the Payee as described in the collection, instructions/ billing file as my be transmitted by the Payee to the Bank from time to time. I/we agree that all collection instructions/billing file transmitted by the Payee shall be conclusive and binding on the Bank and myself/us and shall serve as absolute and irrevocable authority to the Bank and/or any of its branches who may have custody, control or possession of my/our enrolled deposit account(s), to comply with and obey the Payee’s instructions. Amounts debited from my/our enrolled deposit account(s) will be automatically credited to the Payee’s deposit account(s) with the Bank.
I/We hereby expressly authorize the BDO Unibank, Inc. (the “Bank”) to automatically debit from time to time, without need of any further act and deed, from my/our enrolled deposit account(s), the amount(s) due to the Payee as described in the collection, instructions/ billing file as my be transmitted by the Payee to the Bank from time to time. I/we agree that all collection instructions/billing file transmitted by the Payee shall be conclusive and binding on the Bank and myself/us and shall serve as absolute and irrevocable authority to the Bank and/or any of its branches who may have custody, control or possession of my/our enrolled deposit account(s), to comply with and obey the Payee’s instructions. Amounts debited from my/our enrolled deposit account(s) will be automatically credited to the Payee’s deposit account(s) with the Bank.
Only cleared funds in the enrolled deposit account(s), and those not subject to any lien, encumbrance, garnishment, attachment, hold-out or any security arrangement, may be used to effect payment to the Payee pursuant to this ADA. If my/our cleared funds are insufficient to pay in full the total amount due to the Payee, the Bank shall not effect partial payment thereof out of the balance of my/our enrolled deposit account(s).
- Any claim which may arise from any discrepancy between the amount(s) debited from my/our enrolled deposit account(s) and that stated in the Payee’s collection instructions/billing file shall be resolved by me/us with the Payee.
- Payments for past due or overdue accounts with service connection/termination or policy/contract expiration shall be made directly to the collection officers of the Payee.
Payments/procedures/stipulations imposed by the Payee not inconsistent herewith or with any terms and conditions hereof or any related documents or instruments executed by the Bank and myself or any of us, are deemed incorporated herein by way of reference. I/we irrevocably authorize the Bank to implement such payments/procedures and stipulations of the Payee, where the same relates to the implementation of this ADA.
- For joint “OR” enrolled deposit accounts, I/We hereby agree and understand that this ADA is with the consent of all of my/our co-depositor(s). Further, I/We hereby declare under the penalties of perjury that all my/our co-depositor(s) is/are living at the time of such transaction(s). I/we understand that it is my/our responsibility to inform the Bank and the Payee immediately upon the demise of my/our co-accountholder.
- For joint “OR” enrolled deposit accounts, I/We hereby agree and understand that this ADA is with the consent of all of my/our co-depositor(s). Further, I/We hereby declare under the penalties of perjury that all my/our co-depositor(s) is/are living at the time of such transaction(s). I/we understand that it is my/our responsibility to inform the Bank and the Payee immediately upon the demise of my/our co-accountholder.
- I/We hereby agree to waive a separate notice of debit other than that reflected in the Bank’s passbook or bank statement.
- The Payee will retain the original copy of this ADA and that a copy hereof will be provided by the Payee to the Bank.
- This ACA arrangement serves as my/our standing instruction to the Payee to cause the credit of any cash dividend/settlement proceeds arising from the Transactions to the enrolled deposit account. Any disputes relating to the amount(s) credited my/our enrolled deposit account(s) shall be resolved by me/us with the Payee.
- For the Clients’ securities account with Payee under a joint “OR” account arrangement, I/We hereby agree and understand that this ACA is with the consent of all the Clients’ co-account holder(s) of the said Clients’ securities account with Payee.
- The Bank reserves the right to impose charges on this agreement within legal/statutory limits.
- This ADA/ACA shall be governed by all applicable rules and regulations of the Bangko Sentral ng Pilipinas, Philippine Clearing House Corporation and other relevant government agencies.
- All terms and conditions of my/our existing savings/current account agreement/s with the Bank in so far as not inconsistent herewith shall remain in full force and effect.
- This ADA/ACA and the implementation of the terms hereof shall be subject to the pertinent agreements between the Bank and the Payee as well as the Bank’s implementation guidelines, which are deemed incorporated herein by way of reference.
- This ADA/ACA shall take effect after the Bank receives confirmation of my/our ADA/ACA enrollment from the Payee following the date of enrollment as indicated above and shall continue to be effective unless otherwise notified by me/us in writing, at least seven (7) days prior to intended date termination. The Bank, however, may immediately terminate this ADA/ACA without notice to me/us, in case I/we mishandle my/our enrolled deposit account(s) in the reasonable determination of the Bank. In the event that I/we dispute any auto debit transaction implemented under the terms of this ADA, the Bank may, at its sole and absolute option, without obligation to do so, immediately disenroll my account(s) from this ADA/ACA, without need of any notice upon us.
- I/we hereby expressly waive my/our rights under the Secrecy of Bank Deposits Law (R.A. 1405), Foreign Currency Deposit Act of the Philippines of 1974 (R.A. 6426) and the Data Privacy Act (R.A. 10173) in connection with any information which may be disclosed by the Bank to the Payee and the Clients from time to time and as may be necessary to implement the Agreement between the Bank and the Payee. For this purpose, I/We hereby authorize the Bank to disclose to the Payee and the Clients any personal information as defined under the Data Privacy Act pertaining to my/our enrolled deposit account(s), as well as information on the enrolled deposit account(s), as may be necessary for the implementation of this ADA/ACA.
- I/We hereby agree to indemnify and forever hold the Bank, its directors, officers, employees and assigns, free and harmless from any and all claims, actions, and/or liabilities or whatever kind and nature, including but not limited to claims, actions, and/or liabilities for checks drawn against my/our enrolled deposit account(s) but returned/dishonored as a result of the debit of the amount(s) due to the Payee from my/our enrolled deposit account(s); and/or arising out of or in connection my/our instructions under this ACA/ADA, and/or with the implementation of this ADA/ACA, and/or for the Bank’s failure to implement this authority due to error(s) and omissions inadvertently committed, provided that the error or omission is not due to the gross negligence or willful misconduct of the Bank.
The Client hereby agrees to be governed by the following terms and conditions:
- The Client hereby acknowledges that his/its enrolled deposit account as defined in Form D1-D3, is the designated settlement account where payments for or in connection with the Client’s transaction(s) involving investments or dealings in government securities, corporate bonds, derivatives and repurchase agreements (the “Treasury Products”), made by BDO Unibank, Inc. (the “Bank”) for the Client under the Terms and Conditions Governing Treasury Products, are settled.
- The Client hereby expressly authorizes the Bank to automatically debit from time to time, without need of any further act and deed, from his/its enrolled deposit account(s), the amount(s) due to the Bank relative to the Treasury Products as described in the instructions as may be transmitted by the Client to the Bank from time to time. The Client agrees that all instructions transmitted by the Client shall be conclusive and binding on the Bank and shall serve as an absolute and irrevocable authority to the Bank and/or any of its branches who may have custody, control or possession of the Client’s enrolled deposit account(s), to comply with and obey the instructions.
Only cleared funds in the enrolled deposit account(s), and those not subject to any lien, encumbrance, garnishment, attachment, hold-out or any security arrangement, may be used to effect payment to the Bank pursuant to this ADA. If the Client’s cleared funds are insufficient to pay in full the total amount due to the Bank, the Bank shall not effect partial payment thereof out of the balance of his/its enrolled deposit account(s).
- Any claim which may arise from any discrepancy between the amount(s) debited from the Client’s enrolled deposit account(s) and that stated in the instructions shall be resolved by the Client with the Bank.
- Payments for past due or overdue accounts shall be made directly to the collection officers of the Bank.
Payments/procedures/stipulations imposed which are not inconsistent herewith or with any terms and conditions hereof or any related documents or instruments executed by the Bank and the Client, are deemed incorporated herein by way of reference. The Client irrevocably authorizes the Bank to implement such payments/procedures and stipulations, where the same relates to the implementation of this ADA.
- For joint “OR” enrolled deposit accounts, the Client hereby agrees and understands that this ADA is with the consent of all of his/its co-depositor(s). Further, the Client hereby declares under the penalties of perjury that all his/its co-depositor(s) is/are living at the time of such transaction(s). The Client understands that it is his/its responsibility to inform the Bank immediately upon the demise of his/its co- depositor(s).
- The Client hereby agrees to waive a separate notice of debit other than that reflected in the Bank’s passbook or bank statement.
- This ACA arrangement serves as the Client’s standing instruction to the Bank to cause the credit of any settlement proceeds arising from the Treasury Products to the enrolled deposit account. Any disputes relating to the amount(s) credited to the Client’s enrolled deposit account(s) shall be resolved by the Client with the Bank.
- For the Client’s securities account with the Bank under a joint “OR” account arrangement, the Client hereby agrees and understands that this ACA is with the consent of all the Client’s co-account holder(s) of the said Client’s securities account with the Bank.
- The Bank reserves the right to impose charges on this agreement within legal/statutory limits.
- This ADA/ACA shall be governed by all applicable rules and regulations of the Bangko Sentral ng Pilipinas, Philippine Clearing House Corporation and other relevant government agencies.
- All terms and conditions of the Client’s existing savings/current account agreement/s with the Bank in so far as not inconsistent herewith shall remain in full force and effect.
- This ADA/ACA and the implementation of the terms hereof shall be subject to the Bank’s pertinent implementation guidelines, which are deemed incorporated herein by way of reference.
- This ADA/ACA shall take effect following the date of enrollment as indicated in Form D1-D3 and shall continue to be in effect unless otherwise notified by the Client in writing, at least seven (7) days prior to intended date of termination. The Bank, however, may immediately terminate this ADA/ACA without notice to the Client, in case the Client mishandles his/its enrolled deposit account(s) in the reasonable determination of the Bank. In the event that the Client disputes any auto debit transaction implemented under the terms of this ADA, the Bank may, at its sole and absolute option, without obligation to do so, immediately disenroll his/its account(s) from this ADA/ACA, without need of any notice upon the Client.
- The Client hereby expressly waives his/its rights under the Secrecy of Bank Deposits Law (R.A. 1405), Foreign Currency Deposit Act of the Philippines of 1974 (R.A. 6426) and the Data Privacy Act (R.A. 10173) in connection with any information which may be disclosed by the Bank from time to time and as may be necessary to implement the Terms and Conditions Governing Treasury Products. For this purpose, the Client hereby authorizes the Bank to disclose any personal information as defined under the Data Privacy Act pertaining to the Client’s enrolled deposit account(s), as well as information on the enrolled deposit account(s), as may be necessary for the implementation of this ADA/ACA.
- The Client hereby agrees to indemnify and forever hold the Bank, its directors, officers, employees and assigns, free and harmless from any and all claims, actions, and/or liabilities of whatever kind and nature, including but not limited to claims, actions, and/or liabilities for checks drawn against the Client’s enrolled deposit account(s) but returned/dishonored as a result of the debit of the amount(s) due from the Client’s enrolled deposit account(s); and/or arising out of or in connection his/its instructions under this ACA/ADA, and/or with the implementation of this ADA/ACA, and/or for the Bank’s failure to implement this authority due to error(s) and omissions inadvertently committed, provided that the error or omission is not due to the gross negligence or willful misconduct of the Bank.
- I/We hereby expressly authorize BDO’s unit-in-charge of implementing collection from enrolled cardholder/s/borrower/s, to automatically debit from time to time, without need of any further act and deed, from my/our enrolled debit account/s, the amount/s due to my/our payee as described in the collection instruction/billing file as may be transmitted by my/our payee to BDO from time to time. Amounts debited from my/our enrolled debit account/s will be automatically applied to the payment of the amount due to enrolled payee.
I/We hereby agree and understand that in case the cleared and withdrawable balance of my/our enrolled debit account/s be insufficient to pay in full the total amount due to the enrolled payee, BDO shall not effect partial payment thereof out of the insufficient balance of my/our enrolled debit account/s. I/We hereby agree to pay an ADA return fee which BDO may bill in case ADA payment is not successful due to closed and/or insufficient funds available in the enrolled debit account/s.
- Any claim which may arise from any discrepancy between the amount/s debited from my/our enrolled debit account/s and that stated in enrolled payees’ collection instruction/billing file shall be resolved with enrolled payee.
- Payments for past due or overdue accounts shall be made directly to the collection offices of enrolled payee.
- For enrolled joint “and” debit accounts, I/we hereby agree and understand that any and all transactions done by me/us/any one of us through the ADA are done with all the consent of all my/our co-depositor/s. Further, I/we hereby declare the penalties of perjury that all of my/our co-depositor/s is/are living at the time of such transaction/s.
- For enrolled corporate debit accounts, I/we hereby agree that the ADA transactions are authorized by my/our company’s board resolution covering my/our account maintenance with BDO.
- I/We hereby waive a separate notice of debit other than that reflected in BDO’s passbook or bank statement.
- I/We hereby agree to reimburse and forever hold BDO, its directors, officers, employees and assigns, free and harmless from any and all claims, actions, and/or liabilities of whatever kind and nature, for checks drawn against my/our enrolled debit account/s but returned/dishonored as a result of the debit of the amount/s due to enrolled payee from my/our enrolled debit account/s; and/or arising out of or in connection with the implementation of this ADA, and/or for BDO’s failure to implement this authority due to error/s and/or omissions inadvertently committed.
- I/We hereby expressly waive my/our rights under the Secrecy of Bank Deposits Law (R.A. 1405) in connection with any information which may be disclosed by BDO for the implementation of this ADA.
- BDO reserves the right to impose charges on this agreement.
- This ADA shall be governed by all applicable rules and regulations of the Bangko Sentral ng Pilipinas, Philippine Clearing House Corporation, other relevant government agency, and applicable provisions of law.
- All terms and conditions of my/our debit account/s agreement/s with BDO in so far as consistent herewith shall remain in full force and effect.
- This ADA shall take effect on due date after the date of enrollment provided that enrollment is made seven (7) banking days prior to due date. Otherwise, ADA shall take effect the next due date. The ADA facility shall continue to be effective unless otherwise notified by me/us in writing to BDO at least seven (7) days prior to intended date of termination. BDO, however, may immediately terminate this agreement/my/our ADA enrollment without notice to me/us, in case I/we mishandle my/our enrolled account/s in the reasonable determination of BDO, or for other reasonable grounds as determined by BDO.
For American Express Dollar Charge Cards, ADA shall take effect 25 days from Statement Date after the date of enrollment provided that the enrollment is made within seven (7) banking days prior Due Date.
- This ADA and the implementation of the terms hereof shall be subject to BDO’s Implementing Guidelines, which are deemed incorporated herein by way of reference. Moreover, this ADA is subject to and shall be governed by the terms and conditions of the applicable Personal Loan agreements and Credit Card Terms and Conditions.
- In case a new/replacement BDO Credit Card is issued in lieu of a lost/stolen/damaged BDO Credit Card, due to Credit Card upgrade/downgrade, or for any reason, ADA enrollment shall be transferred by BDO to the new/replacement Credit Card without submitting a new ADA enrollment form.
- Enrolled Credit Card/loan accounts incurring three (3) consecutive rejected ADA transactions shall be automatically dis-enrolled by BDO from the ADA facility, and BDO shall have the absolute discretion to allow or reject re-enrollment request on previously auto-dis-enrolled Credit Card/loan account/s.
- In case payment due date falls on a Saturday or Sunday or a holiday, I/we agree to fund my/our enrolled deposit account at least one (1) banking day prior to payment due date, with amount sufficient to cover the payment due.
- I/We agree that auto-debit payments will be posted to enrolled Credit Card account on actual payment date. Such payment becomes part of the Credit Card’s available balance a day after cleared funds are collected by BDO. I/We understand that opting to pay only the minimum amount due will result to imposition of finance charges or interests as provided in the Credit Card Terms and Conditions.
- I/We represent and warrant that the enrollment of enrolled cardholder/s/borrower/s in the ADA and the implementation of terms hereof, has the necessary consent of the latter.
- These ADA Terms and Conditions may be amended or supplemented by BDO from time to time.
Contact us
BDO Corporate Center:
7899 Makati Avenue Makati City 0726, Philippines Trunkline: (+632) 8840-7000
BDO Contact Center:
Contact us
BDO Corporate Center:
7899 Makati Avenue Makati City 0726, Philippines Trunkline: (+632) 8840-7000
BDO Contact Center:
Hotline: (+632) 8888-0000
Outside Metro Manila
(PLDT/Globelines): #8888-0000
(For landline only, press # followed by 8888-0000)
International Toll-Free:
This channel is dedicated to handling online banking enrollment and/or updating of registered online banking contact information of overseas clients. For phishing reports, please send the email to reportphish@bdo.com.ph.
