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By
signing this OFW Visa Electron Card application form, I/we are applying
for my/our Equitable PCI Bank or Bank Consortium account/s to be
designated for gaining access for transactions to be carried out using
the OFW VISA Electron Card. I/We hereby certify that I/we have read and
agree to abide by and be bound, jointly and severally, by the terms and
conditions governing the Equitable PCI Bank VISA Electron Facility and
all future amendments thereto. I/We likewise agree to waive my/our
right/s regarding the confidentiality of deposits under R.A. 1405, as
amended, as the disclosure is necessary and relevant to complete the
transactions desired by Equitable CardNetwork, Inc. and the
cardholder/s. I/We further warrant that all information given by me/us
in this application is true and correct, that the signature/s affixed
herein is the same as the signature/s reflected in the signature cards
of the account/s designated to be accessed and I/we authorize Equitable
CardNetwork, Inc. to confirm all information from whatever source it
may choose. I/We hereby authorize the payment of funds or transactions
of other business on my/our account/s in favor of Equitable
CardNetwork, Inc. for any and all OFW VISA Electron Card transactions
pursuant to this Agreement and, if the account to be designated is a
Joint (either/or) account, that either one of us is authorized to do
whatever he/she so desires with the funds without the consent of the
other depositor/s.
Bank Consortium here refers to the four other banks aside from
Equitable PCI Bank who are joining in the linking of the respective
bank's peso savings account to the OFW Visa Electron Card.
TERMS AND CONDITIONS
1. Definition of Terms
a) Electronic Data Capture (EDC)
Terminal. A Point of Sale (POS) terminal that reads the card details on
the OFW VISA Electron Card magnetic stripe when the card is swiped
through the terminal, without the need of a manual imprinter and/or
having merchant's representatives manually enter the information.
b) Primary Designated Account. A peso savings account which the
cardholder wants to be accessed for EDC transactions at VISA-affiliated
merchant establishments within and outside the Philippines; for peso
cash withdrawals from an Equitable PCI Bank's or any BancNet/MegaLink
Automated Teliering Machines (ATMs), and for dollar cash withdrawals at
a VISA Electron affiliated ATM outside the Philippines.
2. OFW VISA Electron Card. The applicant/s whose application is
approved (hereinafter referred to as cardholder/s for brevity) shall be
issued an OFW VISA Electron Card bearing his/her card number. The
cardholder assumes full responsibility for the security, custody and
possession of his/her OFW VISA Electron Card and PIN as well as
transactions made using the said OFW VISA Electron Card and PIN.
3. Expiry and Renewal of the Card. Unless earlier terminated by
Equitable CardNetwork, Inc., voluntarily cancelled or returned by the
cardholder or the designated account/s is/are closed for whatever
reason by Equitable PCI Bank or the Bank Consortium, the OFW VISA
Electron Card shall be valid up to the date indicated thereon and shall
be automatically renewed after its expiration.
4. OFW VISA Electron Card Transactions. The OFW VISA Electron Card
shall be used to make the following transactions on the designated
account:cralaw:red
a) Fund transfers in
favor of Equitable CardNetwork, Inc. for OFW VISA Electron Card EDC
transactions at VISA Electron affiliated merchant establishments.
b) Cash Withdrawals through the ATM;
5. Personal Identification Number (PIN). The cardholder is required to
obtain a Personal Identification Number (PIN) from an Equitable PCI
Bank or Bank Consortium branch to gain access to the designated
account/s and withdraw cash through any Equitable PCI Bank or
BancNet/MegaLink ATMs or any ATMs outside the Philippines bearing the
VISA Electron Symbol. For record purposes, cardholder may be required
by Equitable PCI Bank or Bank Consortium to fill out an application
form prior to pinning.
6. ATM Transaction Fees. The following transaction fees shall be
imposed on all ATM transactions of the cardholder outside the
Philippines:cralaw:red
US $ 3,00 for every Electron ATM transaction approved; US$1.00 for every Electron ATM balance inquiry;chanroblesvirtualawlibrary
US $ 1.00 for every Electron ATM transaction declined for
reason insufficient funds and/or exceeds the daily transaction
frequency.
7. Conversion of Transaction. If the designated
account is a peso savings account and cardholder uses his OFW VISA
Electron Card outside the Philippines, the transaction shall be
converted to its peso equivalent based on the VISA Foreign Exchange
rate at the time of the transaction.
8. Transaction Receipt. Transaction receipts are
printed on tape by the ATM and may be taken or secured by the
cardholder from the ATM itself after every ATM cash withdrawal.
Transaction receipts for transactions at a Visa Electron affiliated
merchant establishment is generated when the OFW VISA Electron Card is
swiped through the EDC terminal of the merchant. The cardholder signs
the said transaction receipt and retains a copy thereof.
9. Denied/Declined Transactions. A transaction may
not be made by the cardholder if the designated account is not properly
funded, or the EDC terminal at the merchant establishment is off-line,
or the OFW VISA Electron Card is suspended/blocked for reasons of
security. To this end, the cardholder shall hold Equitable PCI Bank or
Bank Consortium and Equitable CardNetwork, Inc. free and harmless from
any liability for these denied/declined transactions.
10. Loss or Theft of Card. In the event that the Card is lost or
stolen, cardholder agrees to immediately report its loss by calling the
twenty-four (24) hour Authorization Center of Equitable CardNetwork,
Inc. and thereafter submitting an Affidavit of Loss, stating the time,
date and place of the loss, and the last transaction made prior to the
loss. However,, purchases made/incurred arising from the use of the
stolen/lost OFW VISA Electron Card before receipt by Equitable
CardNetwork, inc. of the written notice of loss shall be for the
exclusive account of the cardholder even if the signature of the
cardholder is forged.
11. Miscellaneous Fees. Cardholder agrees to pay the
fees, which Equitable CardNetwork, Inc. may impose on lost card
replacements, spoiled cards, etc.
12. Non-transferability Clause. The OFW VISA Electron Card as an ID
Card is the property of Department of Labor and Industry. But the Visa
Electron functionality of the OFW Visa Electron Card is the sole
property of Equitable CardNetwork, Inc., non-transferable and honored
by Equitable CardNetwork, Inc.'s VISA Electron affiliated merchants
only when properly signed by and presented by the authorized
cardholder. The Visa Electron privileges of the OFW VISA Electron Card
may be terminated by Equitable CardNetwork, Inc. at any time for
whatever cause and cardholder agrees to hold Equitable CardNetwork,
Inc. free and harmless from any claim for damages arising from such
termination. Continued use of the OFW VISA Electron Card as a debit and
ATM card after receipt of notice shall be considered fraudulent.
13. Other Agreements. Transactions under this Agreement shall likewise
be subject to Equitable PCI Bank's and Bank Consortium rules and
regulations pertaining to savings accounts and the VISA credit card
agreement, insofar as they are applicable.
14. Venue of Action. Attorney's Fees. Damages. Should judicial action
be necessary to enforce this Agreement, or to collect the cardholder's
obligation under this Agreement, venue of all actions shall be in
Makati City. In case the account is referred to a collection agency or
law firm, cardholder agrees to pay the costs of collection and
attorney's fees.
15. Separability Clause. Should any provision of this Agreement be
declared unconstitutional, invalid or unenforceable by a court of
competent jurisdiction, such declaration shall not affect in any manner
whatsoever the constitutionality, validity or enforceability of the
other provisions of this Agreement.
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