UNIONBANK OF THE PHILIPPINES
UNIONBANK OF THE PHILIPPINES
Interest computation is based on Daily Cleared Balance and is subject to
CURRENT ACCOUNTS TERMS AND CONDITIONS A. OPENING OF ACCOUNT
A Current Account may be opened by an individual, singly or by two (2) or more persons jointly, who is/are free from any legal disability subject to the Bank's account requirements.
The account may also be opened by a juridical entity, in the name of a corporation, partnership, associations, and other juridical entities provided all documents / requirements are submitted and complied with.
The initial deposit, minimum balance requirement (MBR) to operate the account and to earn interest shall be set by the Bank.
B. DEPOSITS
Deposits may be made in the form of cash, check, or fund transfers. Check deposits received after the clearing cut-off time are considered transactions of the following day.
Second endorsed checks, post-dated and stale checks are not acceptable for deposit. As the owner of the account, the client shall ensure the validity, correctness, and genuineness of all endorsements appearing on all checks or items to be deposited to his account. Any alterations made on any check deposited must be authenticated by the drawer's full signature.
In receiving checks and other items for deposit, the Bank obligates itself only as the depositor's collecting agent, assuming no responsibility beyond carefulness in selecting correspondents, and is liable only when actual payment shall have come into its possession.
The Bank reserves the right to refuse acceptance of deposits if it resolves that acceptance of deposits would expose itself to any risks.
C. ENCASHMENT
Encashment are allowed only against cleared funds.
Issued checks are not negotiable after six (6) months from date of issuance.
The Bank has the right to dishonor checks if the drawer's signature differs from the specimen signature on file; the check is postdated/stale- dated; the amount in words and figures differ;
Interest computation is based on Daily Cleared Balance and is subject to
CURRENT ACCOUNTS TERMS AND CONDITIONS A. OPENING OF ACCOUNT
A Current Account may be opened by an individual, singly or by two (2) or more persons jointly, who is/are free from any legal disability subject to the Bank's account requirements.
The account may also be opened by a juridical entity, in the name of a corporation, partnership, associations, and other juridical entities provided all documents / requirements are submitted and complied with.
The initial deposit, minimum balance requirement (MBR) to operate the account and to earn interest shall be set by the Bank.
B. DEPOSITS
Deposits may be made in the form of cash, check, or fund transfers. Check deposits received after the clearing cut-off time are considered transactions of the following day.
Second endorsed checks, post-dated and stale checks are not acceptable for deposit. As the owner of the account, the client shall ensure the validity, correctness, and genuineness of all endorsements appearing on all checks or items to be deposited to his account. Any alterations made on any check deposited must be authenticated by the drawer's full signature.
In receiving checks and other items for deposit, the Bank obligates itself only as the depositor's collecting agent, assuming no responsibility beyond carefulness in selecting correspondents, and is liable only when actual payment shall have come into its possession.
The Bank reserves the right to refuse acceptance of deposits if it resolves that acceptance of deposits would expose itself to any risks.
C. ENCASHMENT
Encashment are allowed only against cleared funds.
Issued checks are not negotiable after six (6) months from date of issuance.
The Bank has the right to dishonor checks if the drawer's signature differs from the specimen signature on file; the check is postdated/stale- dated; the amount in words and figures differ;