BSP RULES

(Bangko Sentral ng Pilipinas)

BSP Circulars SUBJECT BSP Requirements

CIRCULAR 398 Confidentiality of Banks shall keep the data of the cardholders or consumers
Series of 2003 Information confidential.

Handling of complaints Within ten (10) calendar days from receipt of written notice of
complaint or dispute, the bank shall send a written
acknowledgement to the cardholder, unless the action required
is taken within such ten-day period.

Not later than two (2) billing cycles or two (2) months but shall
not exceed ninety (90) days after receipt of the notice and prior
to taking any action to collect the contested amount, or any part
thereof, the bank

Shall make appropriate corrections in their records and/or;

Send a written explanation or clarification to the cardholder

after an investigation.
CIRCULAR 454 Unfair Collection use or threat of violence or other criminal means to harm the
Series of 2004 Practices physical person, reputation, or property of any person;

use of obscenities, insults, or profane language which amount to

a criminal act or offense under applicable laws;

disclosure of the names of credit cardholders who refuse to pay

debts

threat to take any action that cannot legally be taken;

communicating or threat to communicate to any person credit

information which is known to be false, including failure to
communicate that a debt is being disputed;

any false representation or deceptive means to collect or

attempt to collect any debt or to obtain information concerning
a cardholder;

making contact at unreasonable/inconvenient times or hours

which shall be defined as contact before 6:00 A.M. or after 10:00
P.M.,
 CIRCULAR 702 Notification of Banks shall inform their cardholders in writing of
Series of 2010 endorsement of Endorsement of their account to a collection agency or
accounts to agency endorsement from one collection agency to another, at least
seven (7) days prior to the actual endorsement. Notification shall
include the full name of the collection agency and its contact
details.

Personnel handling the collection of accounts, whether these are

in-house collectors, or third-party collection agents, shall
disclose his/her full name/true identity to the cardholder.

AGENCY CODE OF PRACTICE, ETHICS AND CONDUCT

1. At all times, a Collection agent, in the performance of his function as such under the Debt Service Collection

Agreement, shall act promptly, diligently, and in a manner, which is legal, ethical and reasonable and in

accordance with accepted business practice.

2. A collection Agent shall not communicate with an (Bank) Cardholder in a threatening or abusive manner. The

use by a Collection Agent of threats of violence or other acts to harm the physical person, reputation or

property of a cardholder or any person, whenever or not the act constitutes a criminal offense, is strictly

forbidden.

3. Without the explicit authority of (Bank), a Collection Agent is strictly forbidden to collect any Annual fee,

service charges, other fees or compensation from a (Bank) Cardholder.

4. A Collection Agent shall communicate with customers with honestly and integrity. They are to use their real

name or declared alias when negotiating payment and in no instance are they allowed to misrepresent

themselves as another person (e.g. Atty.) when talking to the client. Any false representation or deceptive

means to collect or attempt to collect any debt or to obtain information concerning a cardholder, such as but

not limited to claiming that persons in authority will arrest the (Bank) Cardholder if the latter’s debt is not

settled, is absolutely prohibited.

5. A Collection Agent shall never copy, duplicate or store any (Bank) Cardholder’s personal data or information

for personal reference or any use.

6. A Collection Agent shall keep confidential any and all data relating to any (Bank) Cardholder except under the

circumstances allowed in BSP Circular 398 Section 1 Subsecs. X320.9 4301N.9. Utmost efforts to safeguard the

confidentiality, integrity and availability of consumer information are to be observed.

7. A Collection Agent agrees to be liable for any damage that may be suffered by an (Bank) Cardholder and/or

(Bank) due to violation by the Collection Agent of his confidentiality obligations under Nos. 5 and 6 hereof.

8. In the event of that a Collection Agent shall detect or learn of any dishonest practices within the Collection

Agent’s workplace, the Collection Agent undertakes to inform the Agency and (Bank) at the earliest instance.

9. A Collection Agent shall not send SMS, emails, letters or correspondence of any nature and through any

manner to (Bank) Cardholders without knowledge and approval of (Bank).

10. A Collection Agent shall not manipulate his performance records such as but not limited to depositing “Short”

or deficient payments and recording false customer contact and instructions such as payment arrangement

and requests.

11. A Collection Agent is prohibited from communicating with the media on any matter relating to the services

relating to the Debt Service Collection Agreement.

12. A Collection Agent shall not give any false report to (Bank).

13. A Collection Agent shall ensure that all complaints received from (Bank) Cardholders are promptly made

known to (Bank), and handled promptly and satisfactorily as per agreed escalation process.

14. A Collection Agent must issue, for all check collections from (Bank) Cardholder a receipt, which bears the

signature of the (Bank) Cardholder. All collection monies must be deposited within the stipulated time as

provided in the Debt Service Collection Agreement.

15. A Collection Agent is strictly forbidden from setting up any account that represents or seems to represent the

(Bank) in any and all social networking sites.

16. A Collection Agent is likewise strictly forbidden from using any social networking site to voice their opinion on

any matters related with the (Bank) and/or the Debt Service Collection Agreement.

17. A Collection Agent is strictly enjoined to course any of their complaints, issues and concerns in a manner and

procedure consistent with the escalation process as defined in the Debt Service Collection Agreement.

18. A Collection Agent is expected at all times to fully comply with the BSP regulations on “Unfair Collection

Practices” and all other regulations that may be prescribed by law and/or the BSP.

SPM JARGONS

PTP Promise to Pay Deceased

FP Fully Paid UNCOF Unconfirmed
BP Broken Promise NIS Not Yet in Service

FV+ Field Visit Positive NA Not Accessible

FV- Field Visit Negative KOR (Keep on ringing)

FV+- Field Visit Unconfirmed BUSY FAXTONE

DP Down Payment POS Positive

PDC Post Dated Cheque NEG Negative
MP Monthly Payment NEGO Negotiation

Temporarily Financially Incapable

NCON Uncontactable TFIP
of Paying

NLEM (No Longer Employed) NIOP No Intention of Paying

NLC (No Longer Connected) UNCOP- Uncooperative

NLR (No Longer Residing) CFP Claiming Fully Paid

MO (Moved Out) NCON + Uncontactable but positive

Unknown AFD (Away from Desk)

 WN Wrong number AOF (Always on field)
Voicemail CH Card Holder

MILITARY ALPHABET
A ALPHA
B BRAVO
C CHARLIE
D DELTA
E ECHO
F FOXTROT
G GOLF
H HOTEL
I INDIA
J JULIET
K KILO
L LIMA
M MAMA
N NANCY
O OSCAR
P PAPA
Q QUEBEC
R ROMEO
S SIERRA
T TANGO
U UNIFORM
V VICTORY
W WHISKY
X XRAY
Y YANKEE
Z ZEBRA
 TERMINOLOGIES

Outstanding Balance - accumulated by interest, penalties and other

OB
charges
PRINCIPAL Original balance
LPD Last Payment Date
LPA Last Payment Amount
ENDORSEMENT List of accounts forwarded by the bank
ENDO DATE Date of endorsement of account
PULL OUT DATE Date of hold effort on the account
RETURNS Accounts to be returned in the bank
SELECTIVES List of Payments
Outsourcing System for Collecting Agency (PAG-IBIG housing –
OSCA
Borrower’s information)
FINNONE System use by BPI
ICS Indus Collection System (BDO Clients Information)
DPD Days Past Due
REWRITE Monthly Amortization
FLOWRATES OB Cured
COMPROMISE AGREEMENT Letter – stated the amount arrangement between client and bank
Letter from the bank that will be given to cardholder/Borrower 7 days
NOTIFICATION LETTER
prior to the endorsement date to law firm
DEMAND LETTER Letter approved by the bank
CARD NO. / ACCOUNT NO. Wherein the client will deposit his/her payment

CH CODE
1BD1703-1201
1 Level
BD Bank/ Department
Date of Endorsment
1703 17 – Year
03 – Month
1201 Sequence Number