ELECTRONIC BANKING TERMS AND CONDITIONS

These Electronic Banking Terms and Conditions (these "Terms and Conditions") serve as the contract between me/us and Asia United Bank Corporation ("AUB") with respect to my/our use of the AUB Electronic Banking Services: AUB Preferred Online Banking and AUB Mobile Banking. I/We understand that while AUB will provide a secure system within which I/we can conveniently carry out my/our banking transactions through the Internet and mobile phone, I/we shall take full responsibility for protecting my/our personal and/or account information once my/our enrollment to the AUB Electronic Banking Services is approved and I/we commence usage of the said services. As such, I/we will ensure that before doing any online transaction or sending personal information, I/we will make sure that the correct website has been accessed. I/We will enter the URL of the website directly into the web browser and avoid being re-directed to the website or accessing a hyperlink from a website that may not sufficiently be secure. I/We will be wary of bogus or "look alike" websites.

Article 1. Eligibility of Use

1.    1. I/We understand that my/our submission of enrollment information to AUB does not automatically qualify me/us to use the AUB Preferred Online Banking Service, and is subject to my/our eligibility as an account holder and on the eligibility of my account/s with AUB proposed to be enrolled in the AUB Preferred Online Banking Service (collectively, regardless of number, the "Enrolled Account") and to the approval process of AUB.

2.    2. AUB reserves the right to decline my/our enrollment to the AUB Electronic Banking Services for reasons including, but not limited to, inaccurate or incomplete enrollment information, wrong account number, inoperative email address, and/or unreadable preferred User ID and/or password. I/We understand that AUB is not obliged to justify or provide me/us the reason/s for disapproval of my/our enrollment to the AUB Electronic Banking Services.

3.    3. I/We acknowledge that my/our continued use of the AUB Electronic Banking Services is subject to its continued operation and my/our compliance with these Terms and Conditions.

Article 2. Proprietary Interest

1.    All Intellectual Property Rights arising from or in connection with the AUB Electronic Banking Services are owned by AUB or the relevant third party. As such I/we agree not to do any act or thing inconsistent with AUB's or such third party's ownership of the Intellectual Property Rights, including disclosure of information on the use and operation of the AUB Electronic Banking Services. In the event of any infringement or suspected infringement of AUB's or such third party's Intellectual Property Rights, I/we agree to immediately notify AUB thereof in writing and take such reasonable action as AUB shall direct in relation to such infringement. For purposes hereof, the term "Intellectual Property Rights" refers to any (1) name, logo, registered and unregistered trademark, and service mark, (2) patent and patent application, (3) business method, invention, and discovery that may be patentable, (4) software and computer code, and (5) copyright in both published work and unpublished work. Intellectual Property Rights are agreed to include all Intellectual Property Rights registered under AUB's name, duly licensed to AUB by an affiliate or subsidiary of AUB or by a third party.

Article 3. Security and Password Usage

1.    1. I/We acknowledge that only my/our authorized person/s shall have access to my/our AUB Electronic Banking Account/s, and that it is my/our responsibility to keep my/our User IDs and passwords/PINs strictly confidential. As such, I/we shall regularly change my/our account password/s (at such frequency as I/we deem necessary or when I/we feel that the same may be compromised), and shall select passwords that do not relate to any readily accessible personal data, such as my/our name, birth date, address, phone number, or identification card number, or an obvious combination of letters and numbers, or one that can easily be guessed by other persons such as nicknames, places or events and dates of events that may be closely associated with me/us. I/We shall also avoid keeping a written or electronic record of my/our User IDs and passwords/PINs, and shall not disclose the same to any other person not entitled to access my/our AUB Electronic Banking Account/s. I/We shall take the necessary steps to ensure the security and confidentiality of my/our AUB Electronic Banking Account/s information, my/our User IDs and passwords/PINs, and my/our personal information.

2.    2. I/We agree to assume full responsibility for all transactions coursed through and all instructions given under my/our AUB Electronic Banking Account/s. I/We agree that the use of my/our User ID and password/PIN shall serve as irrevocable authorization for AUB to carry out the transactions initiated and instructions given under my/our AUB Electronic Banking Account/s, which transactions and instructions shall conclusively be presumed to be done or authorized by me/us, correct, complete, irrevocable, and binding upon me/us, without need for AUB to undertake further effect to any instructions it receives, in the terms under which such instructions were received. AUB's record of any instruction shall be final and binding upon me/us, absent manifest error.

3.    3. I/We further agree that all transactions arising from my/our AUB Electronic Banking Account/s affecting a joint enrolled account shall be binding on all the joint accountholders, jointly and severally.

4.    4. The following shall be the authorized users for my/our AUB Preferred Online Banking Account/s:

5.       Admin User- AUB branch officer authorized upon my/our written request to (i) assign the Maker and/or Approver, (ii) define transaction limit per use, (iii) assign a security token to the user authorized to execute financial transactions, and (iv) register my/our authorized user/s to my/our AUB Preferred Online Banking Account/s;

6.       Maker- The user assigned by the Approver to access the Enrolled Account and initiate a transaction, subject to the transaction limit set by me/us and/or AUB;

7.       Approver- The user that I/we have authorized to access the Enrolled Account and approve the transaction initiated by the Maker, subject to the transaction limit set by me/us and/or AUB.

8.    5. (a) AUB will provide my/our authorized user for financial transactions (i.e., transactions that involve disbursement and/or movement of funds from the Enrolled Accounts), though my/our Enrolled Account's authorized signatory/ies, a security token which generates random six (6) digit numbers to enhance the security of my/our AUB Preferred Online Banking Account/s. It is my/our responsibility to register the security token and properly use the same for the intended purpose. In case of loss thereof, I/we shall immediately inform AUB of the same in writing through my/our Enrolled Account's branch of account.

9.     (b) I/We understand that I/we may opt to undertake financial transactions through my/our AUB Preferred Online Banking Account/s without the use of a security token, subject to a daily aggregate transaction limit of PhP50,000.00

10.     (c) I/We agree that AUB may introduce from time to time security measures apart from the use of a security token for financial transactions.

11.     (d) If an authorized user of my/our AUB Preferred Online Banking Account/s fails to log in for a continuous period of 180 calendar days, his/her access to my/our AUB Preferred Online Banking Account/s may be deactivated. Reactivation of the relevant User ID or re-enrollment to the AUB Preferred Online Banking Service may be required and processed only by AUB upon my/our written request.

12.     (e) Notwithstanding the foregoing, I/we agree and understand that the responsibility to keep my/our AUB Electronic Banking Account/s (including all account credentials and information) secure, confidential and in active status is mine/ours.

Article 4. Limit on Liability

1.    1. AUB reserves the right to alter the scope and availability of the AUB Electronic Banking Services, and to modify, restrict, withdraw, cancel, disconnect, deactivate, suspend or continue any or all of these services or features or their services without prior notice to me/us.

2.    2. AUB may cancel or refuse to execute any of my/our instructions at any time, for reasons solely determined by AUB to be reasonable, without incurring any liability whatsoever.

3.    3. I/We understand and agree that the financial institution of the destination account of my/our fund transfer transactions may adopt certain policies and procedures requiring only the confirmation of the beneficiary's account number (without confirming or checking the correctness of other destination account information, such as account name). Accordingly, I/we hereby agree that the transaction may proceed upon confirmation by the relevant financial institution/s that the destination account number is valid, without inquiring as to the correctness of the other destination account information. As such, I/we shall hold AUB free and harmless from, and shall defend and indemnify AUB against, any claim or liability arising from or otherwise related to the reliance by AUB on the account number that I/we have stated in the transaction instructions and/or the confirmation by the relevant financial institution/s with respect to the same.

4.    4. AUB shall not be liable for any loss or damage of whatever kind or nature (including without limitation, charges and/or penalties which may be imposed upon me/us by third parties) in connection with the implementation of transactions coursed through the AUB Electronic Banking Services in the following instances:

5.        (a) Disruption, failure or delay in implementing transactions relating to or in connection with the AUB Electronic Banking Services which are due to circumstances beyond the control of AUB, fortuitous events such as but not limited to prolonged power outages, breakdown in computers and communication facilities, typhoons, public disturbances and calamities, and other similar or related cases;

6.        (b) Loss or damage that I/we may suffer arising out of any improper, fraudulent access or utilization of the AUB Electronic Banking Services due to theft or unauthorized disclosure of account credentials such as User IDs, passwords and PINs, or violation of other security measures;

7.        (c) Inaccurate, incomplete or delayed information that I/we received due to disruption or failure of any communication facilities used for the AUB Electronic Banking Services or failure by me/us to provide AUB with updated contact information;

8.        (d) Delay in receipt by AUB of any stop payment order or other similar or urgent instructions by reason of my/our use of email without any further communication through other modes to my/our branch of account;

9.        (e) Such other circumstances or reasons which effectively prevent AUB from implementing the transaction.

10.    5. AUB shall in no event be liable for any indirect, incidental or consequential loss, loss of profit or damage that I/we may suffer or have suffered by reason of my/our use or failure or inability to use the AUB Electronic Banking Services.

11.    6. I/We shall be liable for some or all loss from unauthorized transactions in case I/we have breached these Terms and Conditions or contributed to or caused such loss. I/we shall hold AUB, its stockholders, directors, officers, employees and representatives free and harmless from, and shall defend and indemnify them against, any and all liabilities, claims, damages, suits of whatever nature, arising out of or in connection with the implementation of AUB Electronic Banking Services, including any and all errors inadvertently committed, any computer-related errors resulting to AUB's failure to effect any instruction through the AUB Electronic Banking Services.

12.    7. I/We shall be responsible for providing and maintaining an operational and available e-mail address, telephone and/or mobile phone number for AUB to send communication or notifications to me/us as necessary. I/We shall promptly notify AUB in writing of any change in such contact information.

Article 5. Service Charges

1.    1. Transactions carried out through the AUB Electronic Banking Services are subject to all AUB conditions, fees and charges applicable at the time of the transaction.

2.    2. AUB may from time to time upon notice introduce or change fees and charges for the use of the AUB Electronic Banking Services.

3.    3. I/We hereby authorize AUB to debit the Enrolled Account/s for the amount of such fees and charges payable on transactions made through the AUB Electronic Banking Services. If at any time there are insufficient funds in my/our Enrolled Account/s to cover such fees and charges, AUB may either refuse to carry out my/our transaction without incurring any liability as a result of such refusal or overdraw my/our Enrolled Account by debiting fees and charges or debit any other account that I/we may hold with AUB.

Article 6. Channel Availability and Transaction Cut-Off Time

1.    1. I/We understand that the AUB Electronic Banking Services are available 24 hours a day, 7 days a week. However, at certain times, some or all of the AUB Electronic Banking Services, may not be available due to system maintenance.

2.    2. I/We acknowledge that AUB implements certain cut-offs (Philippine time) during the day for each transaction. If I/we carry out a transaction after the applicable cut-off time, it will be stored and processed the next Philippine banking day. Any loss, charges or penalties (whether imposed by AUB or third parties) as a result of a next day transaction will be me/our sole responsibility.

Article 7. Transactions

1.    1. Transactions will only be carried out through the AUB Electronic Banking Services if there are sufficient funds available in the Enrolled Account/s. I/We agree that it is my/our responsibility to ensure sufficient funds are available in my/our Enrolled Account/s at all times to cover my/our transactions, whether immediate or scheduled, and that the Enrolled Account/s are active. Any charges or penalties as a result of an unsuccessful transaction due to insufficiency of funds or dormancy of account will be my/our sole responsibility and shall be for my/our account.

2.    2. In case of bills payment, I/we understand that any dispute or issue with respect to my/our billing statement or account with the biller shall separately be handled between me/us and such biller, AUB not being a party to such transaction.

3.    3. In case of loan payment, I/we understand that the AUB Electronic Banking Services shall only process payments for loans in current status, subject to the processes and procedures specific to the relevant loans being paid.

4.    4. I/We undertake to use the AUB Electronic Banking Services solely for legitimate purposes. The transactions that I/we shall course through the AUB Electronic Banking Services shall in no event be connected to crime or other illegal activity, including but not limited to money laundering and terrorism financing.

Article 8. Termination of Service

1.    1. I/We may request to terminate my/our access to the AUB Electronic Banking Services permanently through AUB Customer Care, by unenrolling from the service through AUB Preferred Online Banking Service or AUB Mobile Banking Service, or by visiting any of the AUB branches. I/We will continue to be responsible for any transactions made on my/our AUB Electronic Banking Account/s until the time of actual cancellation or termination thereof. AUB shall not be liable for any and all remaining scheduled transactions that I/we have previously set up.

2.    2. AUB may terminate my/our access to the AUB Electronic Banking Services at any time for any reason upon 30 calendar day's prior notice of such termination.

3.    3. AUB may terminate my/our access to the AUB Electronic Banking Services without prior notice if (i) I/we have breached these Terms and Conditions, (ii) AUB learns of my/our death, bankruptcy or lack of legal capacity or that I/we have committed an act of bankruptcy or that a bankruptcy petition has been presented against me/us, (iii) there are insufficient funds to cover payments or payment instructions given, or (iv) AUB considers that it has other reasonable grounds to do so.

Article 9. Consent to Receive Announcements

1.     I/We agree to receive messages and announcements from AUB, through email, phone call or SMS, regarding the AUB Electronic Banking Services downtime advisories, featured services and marketing promotions.

Article 10. Other Matters

1.    1. AUB reserves the right to vary these Terms and Conditions at any time, subject to reasonable prior notice of such changes.

2.    2. In case of any litigation arising from these Terms and Conditions and/or otherwise connected to the AUB Electronic Banking Services, I/we shall pay all fees and expenses incurred by AUB in such litigation equivalent to the higher of PhP100,000.00 and 20% of the amount involved, plus attorney's fees. Venue of all legal actions or proceeding arising out of or in connection with these Terms and Conditions and/or the AUB Electronic Banking Services shall be brought exclusively before the proper courts of Pasig City, Metro Manila, Philippines, or any other locality in which AUB maintains a branch, at the sole choice of AUB.

3.    3. Should any of the provisions hereof shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not be affected thereby.

4.    4. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Access to and use of the AUB Electronic Banking Services shall be subject to applicable requirements and procedures of government telecommunications or other regulatory authorities and those prescribed by law.

TCPOB 04/01/2022