Terms and Condition

Terms and Conditions on the use of internet and mobile devices as electronic channels

1 Definition of Terms
1.1 The terms “I”, “We”, “Us” “Ours” and where the context may require shall refer to the enrolled user of the
Internet Banking Service;
1.2 The term “BANK” shall refer to Malayan Savings Bank Inc.;
1.3 The word “System” shall refer to Internet Banking Service;
1.4 The word “Account” and “Accounts” shall refer to deposit accounts of the BANK.
2 Access to Internet Banking Service
2.1 The BANK shall provide me instructions on how to use the online services of the BANK, which I shall adhere to
and shall form part of the terms and conditions agreed herein;
2.2 I shall access any of my enrolled accounts with the use of any internet enabled device, approved web browser
with User ID and Password, and any other security measures as may be implemented in order to control fraud,
identity theft and other similar risks by the BANK;
2.3 I shall be allowed access to the system twenty-four (24) hours a day, seven (7) days a week. However, at certain
times, some or all services of the system may not be available due to system maintenance, telecommunication,
electrical network failure, or other causes beyond the control of the BANK;
2.4 I shall specifically and properly enroll my account or accounts in the system in order to gain use the various services
of the system.
3 Security Password and User ID
3.1 For my protection, it is agreed that, I shall not, at any time and under any circumstance, disclose to any
unauthorized person my User ID, Password and/or other security information which is required to access my
account to the system and transact using the system;
3.2 In all circumstances, I assume full responsibility for all transactions made to my account through the use of my
User ID and Password. It is understood that the Password is known only to me and as such, any transaction
effected using my Password, shall be conclusively presumed to be done by me;
3.3 I agree to change my Password from time to time as I deem necessary and should I feel that my Password has
been compromised, I shall immediately change my Password through the system’s change password facility;
3.4 I further agree that the BANK, at its sole discretion, is entitled to act on the instructions received from the system,
which, the BANK reasonably believes emanated from the use of my User ID and Password. I further agree that
the BANK shall not be liable for executing my instructions sent through the system, which the BANK believes
emanated from me;
3.5 I understand that after three (3) failed log in attempts, my User ID shall be automatically be disabled. In order for
my User ID to be reactivated, I will go to Forget Password link and answer the security information/s the system
which shall be required from me;
3.6 I shall be solely responsible in protecting against unauthorized access to the system through the use of physical
security, passwords and other security procedures;
3.7 Proper execution of security procedures rests entirely within my control.
Terms and Condition
Terms and Conditions on the use of internet and mobile devices as electronic channels
4 Internet Banking Services
4.1 The following non-transactional services are available in the system:
4.1.1 Balance Inquiry; and
4.1.2 Transaction History
4.2 The following financial transactions are available in the system, and by availing of the said transactions I agree to
be bounded by the conditions enumerated below.
4.2.1 Intrabank Fund Transfer;
4.2.2 Interbank Fund Transfer; and
4.2.3 Bills Payment
4.3 I understand that I can initiate any financial transaction available in the system, provided that it is transacted up
to a certain limit set by the BANK and that it shall be posted on the same day. I understand that the system may
require me to re-enter my password should it exceed the transaction limit set by the BANK;
4.4 I understand that I can execute any financial transaction on immediate, scheduled or recurring basis;

4.4.1 Immediate Instruction – I understand that transactions with immediate instructions shall be posted on the
same date and time it was requested.
4.4.2 Scheduled Instruction – I understand that transaction with scheduled instructions shall be posted only
when the scheduled date has been met. I also understand that I can cancel any scheduled instruction
provided it is done a day prior to its execution date.
4.4.3 Recurring Instruction – I understand that transaction with recurring instructions shall continuously
be posted when the recurring condition has been met. I also understand that I can cancel any
recurring instruction provided it is done a day prior to its execution date.
4.5 The BANK shall not be responsible for any charges imposed on me or any other action taken against me by a
payee arising from non-processing of my instruction due to any of the following reasons/conditions:
4.5.1 Incorrect Account Information but not limited to Account Number, Account Name, and the Payment
Amount;
4.5.2 Insufficient funds;
4.5.3 Closed Account, Hold Account or Dormant Account;
4.5.4 A court order or competent authority prohibits the account from being involved in a financial transaction;
4.5.5 Circumstances beyond the reasonable control of the BANK (such as fire, flood or improper transmission
or handling of payments by a third party) to prevent the completion of the transaction, despite reasonable
precautions taken by the BANK.
4.6 The BANK shall be under no obligation or liability to proceed with any transactional service unless and until my
account has sufficient funds. Only cleared and withdrawable balances shall be considered for financial
transactions.
Terms and Condition
Terms and Conditions on the use of internet and mobile devices as electronic channels
5 Electronic Mail
5.1 I understand that an electronic mail may be sent to me when:
5.1.1 Transaction has been successfully processed;
5.1.2 Transaction has been rejected; or
5.1.3 Scheduled or Recurring Instruction has been cancelled.
5.2 I agree that I will not rely on email if I need to communicate with the BANK right away, such as but not limited to
reporting of lost or stolen ATM card, unauthorized transaction in one of my accounts or if I need to stop
a scheduled transaction;
5.3 I agree that the BANK may respond by electronic mail with regard to any matter related to the services;
5.4 I also agree that the BANK may send information about other products and services to me by electronic mail.
6 Other Agreements
6.1 I hold the BANK, its stockholders, directors, officers, employees, and representatives free and harmless, as well
as agree to indemnify them, from any and/or all liabilities, claims, damages, suits of whatever nature, arising out
of and/or in connection with my enrollment and instructions initiated through the system from my User ID and
Password, including any errors inadvertently committed, any computer-related errors resulting to failure to effect
any transactions that I initiated through the system. The BANK will not be held liable for any losses resulting from
circumstances beyond its control, including but not limited to, failure of electronic or mechanical equipment or
communication lines or other interconnection problems, severe weather, earthquakes, floods or other such
events;
6.2 I authorize the transmission of communications through the Internet and acknowledge that the internet is not
necessarily a secure communications and delivery system, and I understand the risks associated with it (among
others, confidentiality, security, tampering and unauthorized use). I agree to waive any bank secrecy rights under
Republic Act No. 1405, as amended, Republic Act 6426, as amended, Section 55.1(b) of Republic Act No. 8791 and
any and all other laws on the confidentiality of bank deposits;
6.3 All terms and conditions of my existing savings/current account agreement(s) with the BANK insofar as
not inconsistent herewith shall remain in full force and effect;
6.4 For "AND/OR" joint accounts, I confirm and certify that my access through the system and all my transactions
therein are done with the consent of my co-depositor.

6.5 I agree that where particular transactions, products and services are subject to specific terms and conditions that
I entered into with the BANK, insofar as not inconsistent herewith, or that are applicable from time to time, such
terms and conditions shall take precedence;
6.6 This arrangement shall be governed by all applicable rules and regulations of the Bangko Sentral ng Pilipinas
(BSP);
6.7 I agree that the BANK may, in the future, impose charges on this arrangement within legal and regulatory limits
and I hereby authorize the BANK to impose said charges accordingly;
6.8 My enrollment to the system shall be effective and shall remain in full force and effect until the BANK receives a
written notice of termination from me. The BANK, however, reserves the right to terminate this arrangement
without prior written notice of termination to me if the account subject of the facility is voluntarily closed, or is
mishandled, or is involved in fraud or attempt to defraud;
Terms and Condition
Terms and Conditions on the use of internet and mobile devices as electronic channels

6.9 The BANK may modify, amend, or revise the terms and conditions applicable to any of the services provided by
the system from time to time upon mailing, e-mailing, or delivering a notice of the modifications, amendments,
or revised terms and conditions at the address shown on my account records and the revised terms and
conditions shall correspondingly be effective. Continued use of the system’s services thereafter will constitute
acceptance of the modifications and revised agreement. The BANK may send any notice to me, including, but not
limited to, notifications of modifications via electronic mail;
6.10 The Terms & Conditions I entered into herein, together with the addenda, schedules, other written agreements
and applicable rules and regulations of the BANK represents my common understanding and agreement thereto.
If any portion of this Terms & Conditions is found to be unenforceable, all remaining portions shall remain in full
force and effect.