TERMS AND CONDITIONS FOR ENROLLMENT UNDER PS BANKS CORPORATE INTERNET BANKING AUTOMATIC DEBIT ARRANGEMENT
I/We, as client of the above Billing Company with Billing Reference Number stated above, hereby agree and bind myself/ourselves to the following terms and conditions in relation to my/our current/savings account number maintained with PSBank for enrollment under PSBank’s Corporate Internet Banking Automatic Debit Arrangement Facility for the payment of my/our bills via the automatic debiting of my/our account as indicated above.
1. I/We am/are authorizing the Billing Company to debit the cleared and withdrawable funds of my/our above-stated account of the amount due to the Billing Company through the internet banking facility of PSBank. I/We further authorize the Billing Company to debit the amount due, as appearing in the corresponding statement of account, from my/our enrolled account on the due date without the need of any further act, deed or notice.
2. For purposes of this arrangement, and in order for PSBank to comply with the applicable laws and terms of its payment collection arrangement with the Billing Company, I/We agree to waive the application of Republic Act 1405 (Secrecy of Bank Deposits Law), Republic Act 10173 (Data Privacy Act) and any other applicable laws of the Philippines which will require the issuance of consent and/or waiver for the disclosure and/or processing of any and all information relating to my/our account with PSBank. In this regard, I/We hereby authorize PSBank to disclose to the Billing Company or any concerned entity or authority any information pertaining to my/our aforementioned account as may be necessary.
3. I/We will ensure that my/our abovementioned account will always have sufficient and available funds to cover all amounts due as billed by the Billing Company, any discrepancy between the billed amount and the debited amount shall be resolved entirely between me/us and the Billing Company.
4. I/We acknowledge that the billing and other complaints regarding the product and/or service of the Billing Company shall be the direct responsibility of the Billing Company, and PSBank shall not, in any manner, have any obligation to me/us for such matters.
5. I/We acknowledge that the Billing Company shall have its own arrangement with me/us for the issuance of the official receipt confirming the payment made through the Facility under this Agreement.
6. Any discrepancy between the amount actually debited form my/our account and the amount reflected in my/our billing reference shall be reported directly to the Billing Company and shall be resolved between the Billing Company and myself/ourselves as the client.
7. Should there be errors in the posting of the amount debited form and/or credited to my/our account arising from system errors, necessary reversals, or otherwise, I/we authorize the Billing Company and/or PSBank to reverse any crediting/debiting and, should the balance of my/our account be not sufficient to effect the reversal or to make the necessary corrections in the posting, I/we further undertake to reimburse PSBank the amount paid to the Billing Company by funding my/our account immediately upon notice.
8. Payments for past due or overdue accounts shall be made directly to the Billing Company.
9. I/We may terminate my/our enrollment in the ADA facility by submitting a written notice of cancellation or termination to the Billing Company. It will be the responsibility of the Billing in the ADA facility. Should any amount be debited form my/our account after submission of a written notice or instruction for disenrollment of said account was forwarded to PSBank, I/We shall report this incident directly to the Billing Company and shall be resolved between the Billing Company and myself/ourselves as the client.
10.For joint account, it is hereby understood and agreed that all transactions to be made by any of us through this ADA are done with consent of my/our co-depositor.
11. This authorization shall be one a continuing basis unless cancelled by the undersigned in writhing or as determined by the Billing Company.