The Bangko Sentral ng Pilipinas (BSP) aims to have an integrated electronic banking and payments/settlements system to allow more consumers to complete financial transactions safely and on time. We, the Bank, and you, the Channel user, have an essential role in this endeavor.
We support the BSP’s mandate and recognize that a secure and reliable electronic banking and payments/settlements system help in improving the access and quality of financial services for the Filipino people. These are essential tools to bank swiftly, conveniently, and efficiently. They also facilitate a seamless, cost-effective, and safe transfer of payments and goods or services, which will help boost the growth of our economy. Therefore, we are extending the use of the Channels to you in support of and guided by these principles.
We are committed to maintaining the safety, integrity, and stability of the electronic banking and payments/settlement system. Once we grant you access to the Channels, like us, you become part of an electronic banking community and have to observe specific rules and standards for the protection and convenience of its members. In general, you must only use the Channels for their lawful and intended purposes. For your protection, always be truthful about the purpose and use of the Channels and transact only with legitimate and trustworthy counterparties (sender/beneficiary) with whom you are familiar. Protect your information and privacy at all times, especially your Access Codes to the Channels. Going against these standards undermines the reliability of the electronic banking and payments/settlement system.
Within this framework, this Metrobank Online and Metrobank App Terms and Conditions (“MBOTC”) outline our mutual responsibilities in using these electronic banking and payments/settlement systems.
This MBOTC supplements the General Banking Terms and Conditions or any related agreement governing the Accounts (“GBTC”). Accordingly, capitalized terms used in this MBOTC will have the same meaning specified in the GBTC. In case of conflict between the GBTC and this MBOTC in terms of product and commercial features, the latter will prevail.
In this MBOTC, references to “us,” “we,” “our,” or the “Bank” mean Metropolitan Bank & Trust Company (“Metrobank”) while references to “you,” “your,” and “Customer” mean you as the user of Metrobank Online and Metrobank App (“Channels”).
By using the Channels and any of the services and products (“Services”) mentioned in the MBOTC, you are deemed to have carefully read, understood, and agreed to be bound by this MBOTC and to carry out your responsibilities specified herein. You should also secure, read, and understand any information related to the Accounts, Services, and Channels, together with studying any associated risks. You further confirm that you have considered all these and have accepted all the possible risks.
We may modify this MBOTC at any time, and any such change is deemed binding upon you upon prior notice in a manner we consider appropriate. You should also regularly check our website: www.metrobank.com.ph and www.metrobankcard.com for any changes or announcements related to your CASA deposit products, investments, secured and unsecured loans, credit cards, including its inherent products and channels, debit cards, personal loans, credit lines (herein collectively identified as “Accounts”), the Services, the Channels, or this MBOTC. Your continued use of the Services and the Channels shall constitute your acceptance of this MBOTC as amended.
II. METROBANK ONLINE AND METROBANK APP
Our Channels offer a quick, cost-efficient, simple, and secure way to do your banking. For example, with our Metrobank Online and Metrobank App, you can perform various services such as balance inquiries, fund transfers, and bills payments. A complete list of services is available on our website https://www.metrobank.com.ph/mbonline. Note that not all Services are available across all Channels. Agreement to this MBOTC means accepting all the terms for these Services.
A. NATURE OF OUR CHANNELS
B. OUR AUTHORITY
Please check our website: https://www.metrobank.com.ph & www.metrobankcard.com, or our various communication channels to access the latest information on our Channels, Products, and Services, as well as the relevant fees and charges (https://www.metrobank.com.ph/articles/rates-and-fees and https://metrobankcard.com/cards/compare-all).
For InstaPay and PESONet, you understand and agree to the following:
a. “Automated Clearing House (ACH)” - a multilateral agreement among ACH participants governing the clearing and settlement of payment orders for specific payment streams operating under the National Retail Payment System (NRPS) consisting of the InstaPay and PESONet credit payment schemes:
i. “InstaPay”- a real-time low-value electronic fund transfer (“EFT”) credit push payment scheme.
ii. “PESONet”- a batch EFT credit payment scheme whereby the funds transfer instructions will be processed in bulk and cleared at batch intervals. The recipient of funds or Beneficiary will then receive the total value in their account within the same banking day, provided the payment instruction of the Sender is sent within the prescribed cut-off time/s.
b. “Beneficiary” -the receiving party identified by the Sender of funds in the Interbank Fund Transfer Instruction
c. “Beneficiary Account”- the account maintained with the Receiving Institution that is identified by the Sender as the account to be credited with the amount specified in the Interbank Fund Transfer Instruction
d. “InstaPay QR”- a feature that enables the transfer of money between accounts in different banks and e-wallets by scanning a QR code instead of typing and sharing account numbers. It follows the QR Ph standard.
e. “Interbank Fund Transfer Instruction or IBFT Instructions”-the Instruction submitted or entered by the Sender in the Channels to transfer funds from the Source Account for credit by the Receiving Institution to the Beneficiary Account
f. “Sender”- the party initiating the IBFT Instruction through the Originating Institution to transfer funds from his/her/its identified Source Account to the Beneficiary Account
g. “Source Account” – the account maintained by the Sender with the Originating Institution, which is identified by the Sender as the account to be debited with the amount specified in the IBTF Instruction
2. CONDITIONS OF USE
You further agree to the following conditions:
a. The use of InstaPay and PESONet is subject to change and enhancements by the ACH or the Bank’s own system enhancements.
b. All transactions completed through InstaPay are real-time, irreversible, and considered final and binding against you.
c. We have the right to unilaterally disable/enable the InstaPay or PESONet service or disable/enable sending to or receiving from certain InstaPay or PESONet participants in case such action is required for security purposes or system enhancements or for any other justifiable reasons. We will provide you with such notices reasonable under the circumstances.
d. InstaPay or PESONet transactions are subject to cut-off, processing times, transaction limits, and fees, which may be amended from time to time, subject only to the Bank’s policy and reasonable prior notice. You further authorize us to automatically deduct the fees from the Source Account on top of the amount indicated in the IBFT Instructions.
e. You agree to fully cooperate in case of any investigation related to your IBFT transaction and provide the necessary documents and testimonies as we may require.
f. Before sending any IBFT Instruction, you must carefully read and consider related service advisories provided by us.
g. You, as a Sender, agree that it is your sole responsibility to ensure that all the details entered into the IBFT Instruction are complete and accurate. This applies to all IBFT instructions via manual input or InstaPay QR to (i) pay peers; (ii)pay merchant; and (iii) pay biller
h. You acknowledge that for implementing an IBFT Instruction for peer-to-peer transfers, the account number is only sufficient to be consistent with the specified Beneficiary Account.
i. You further understand that we are not a party to any agreement between you and the Beneficiary, Merchants, or Billers in connection with the IBFT Instruction. As such, in the absence of gross negligence and willful misconduct, we have no obligation or liability if: i. funds were not transferred to the Beneficiary Account due to insufficient funds or erroneous or invalid account numbers or details; ii. there was an overpayment or insufficient funds transferred to the Beneficiary Account; or iii. there was any wrongful payment since you did not receive the item you paid for. iv. there was a scam/sale of defective products/services by the merchant you paid.
j. In case of insufficient funds in the Source Account or should there be any discrepancies or issues with the IBFT Instruction (such as, but not limited to, incorrect amount or wrong beneficiary), you agree to coordinate directly with the Beneficiary to settle the amount due.
k. Upon authorizing the IBFT instruction, you agree to hold free and harmless and indemnify us for any expense, loss, or damage incurred by us due to our reliance on the information provided or for acting upon your IBFT Instruction.
E. CUSTOMER CARE AND LIABILITY
a. We will endeavor to resolve issues and claims, reasonably, timely, and efficiently. You agree to cooperate with us and provide us with the necessary information to resolve any issue or complaint. Subject to existing laws and our policies, we will provide you with the results of our investigation. For any questions or concerns, you may reach us through the following points of contact:
We are regulated by the Bangko Sentral ng Pilipinas (BSP). You may reach the BSP through the following points of contact:
Address: A. Mabini St. cor. P Ocampo Street., Malate, Manila, Philippines 1004 Tel. No.: (+632) 8811-1277 (8811-1BSP) Website: www.bsp.gov.ph
BSP Consumer Assistance Mechanism points of contact:
Tel. No.: (+632)5306-2584, (+632)8708-7087, (+632)8708-7701 loc. 2584 E-Mail: firstname.lastname@example.org Chatbot: Access BSP Online Buddy (BOB) application through the BSP Website
b. In case of disputes arising from erroneous handling of unauthorized transactions, the Bank will investigate and provide you with a fair opportunity to present your allegations and evidence.
c. We acknowledge our responsibility to exercise the highest degree of diligence and good faith in performing our obligations to you. Accordingly, we will abide by any final adjudication by a court of competent jurisdiction if we are proven and found to have acted otherwise.
III. CHANNELS LIFECYCLE
A. SIGN UP
B. USE OF CHANNELS
C. MONITORING AND RECONCILIATION OF TRANSACTIONS
D. TERMINATION OF ACCESS/ DECOMMISSIONING OF CHANNELS