GENERAL CLAUSES AND ACCEPTANCE

1. By applying for or using any Account, Application, Card, or Service provided by Tonik, you acknowledge that you have read, understood, and agreed to be bound by all of the Terms and Conditions set out herein. This includes accepting any updates, amendments, or changes made to these terms and conditions. You also agree to abide by our Data Privacy Statement, operational guidelines, and specific terms and conditions that govern any Account, Card, or Service, and to pay any fees associated with the use of any of the Account, Application, Card, or Service.

DEFINITION AND INTERPRETATION OF TERMS

2. In these General Terms and Conditions, the following terms shall have the following meanings:
1. “Account” refers to all deposit products of Tonik, including: Tonik Account (main savings account), Time Deposit(s) and Solo or Group Stashes (savings accounts).
2. “Affiliate” means any person or entity that, now or hereafter, directly or indirectly, controls (whether singly or together with others), is controlled by, or under common control with Tonik, where “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies whether through ownership of securities or equity interest, management authority, or contract.
3. “Application” refers to Tonik Mobile Banking Application.
4. “ATM Network Participant/s” means banks and other financial institutions who are, or in the future will be, members or affiliates of BancNet, Mastercard affiliated banks or such other ATM networks or affiliations that will allow Tonik ATM/Debit Cards in their ATM systems and facilities.
5. “Banking day” means a day, other than a Saturday, Sunday, or public holiday, in which banks are generally open in Manila and Pasig.
6. “BSP” means Bangko Sentral ng Pilipinas, or the Central Bank of the Philippines.
7. “Card” means Tonik ATM/Debit Card, Tonik Virtual Debit Card, and other ATM/Debit Cards that may be issued or acquired by Tonik in the future.
8. “Card Security Code” or “CVC Code” means the three (3) digit number displayed on the Tonik Virtual Debit Card or at the back of the Tonik ATM/Debit Card, which is used to make purchases or payments online.
9. “Financial Transaction” means customer-initiated action that involves the transfer of money or funds within an Account or between Accounts.
10. “Group Stash” means a saving vault involving an owner and other Tonik customers that can be opened from the owner’s Tonik Account.
11. “One Time Password” or “OTP” shall mean an authorization code sent to the registered mobile phone number to verify customer’s identity and to authorize transactions
12. “Overdraft” means a deficit in an account caused by any financial transaction debiting money from the account that exceeds the account’s remaining and/or available balance.
13. “Password” shall mean a personalized alphanumeric code used to access the Application.
14. “Personal Identification Number” or “PIN” shall mean a personalized digit code used to access the Application or Card and make ATM/POS transactions.
15. “POS” means Tonik Point-Of-Sale.
16. “Service” refers to facilities, offering or product that are related to the use of Account, Card or Application.
17. “Solo Stash” means a saving vault involving 1 person that can be opened from that person’s Tonik Account.
18. “Time Deposit” is a bank deposit product which earns interest over a fixed term or period. The money must remain in the Account for the duration of the fixed term in order to earn the stated interest rate.
19. “Tonik Account” refers to the main savings account that is issued to all Tonik customers upon successful onboarding.
20. “Tonik”, “we”, “us”, “our” refers to Tonik Digital Bank Inc.
21. “You”, “your”, or “yours” means any person applying for, owning, or holding an Account, or installing, registering, or utilizing the Application, or applying for or holding a Card, or applying for, availing, or utilizing a Service.

ACCESS TO THE APPLICATION

3. To help protect your account and in compliance with rules and regulations set by different regulatory bodies, Tonik may, from time to time:
1. Determine the scope of the application,
2. Make the application available/unavailable,
3. Set/change the daily cut off times,
4. Modify, suspend or cancel any of the services in the application for any reason.

4. By continuing to use the Application following the implementation of any modification or change, you are deemed to have agreed to such modifications or changes. Subject to your compliance with these Terms and Conditions, Tonik grants you the non-exclusive, non-transferable, royalty-free privilege to download the Application (if necessary, from an authorized third party) and install it on an end device in your possession and control.

5. The Application contains software that has been licensed by third parties. You acknowledge and accept the rights of Tonik and of the third parties, if applicable, to the Application.

6. Tonik provides no guarantee that the Application will work without errors on your end device and network operator.

7. You authorize Tonik to use any information processed in connection with the use of the Application (e.g. personal information, geographic information, device information) in the context and for the purpose of providing the Service and the secure use of the Application.

8. The use of the Application, among others, due to the download, installation or use of an application and the associated reference points with third parties (for example, distribution platform providers, network providers, device manufacturer) involves certain disclosures and risks, including: (i) disclosure of your personal information or other information and the existence of your banking relationship with Tonik and its third parties, whereby the banking secrecy cannot be ensured anymore in this respect; (ii) system outages, security-related restrictions and unauthorized removal of use restrictions on the end device, and other disturbances which may make use impossible; and (iii) misuse due to manipulation by malware or unauthorized use, including in the event the end device is lost. You are aware of and assume these risks in connection with the Application.

9. Tonik is entitled to block or disable the use of the Application on end devices if the security features devised by the operating system or manufacturer of such device have been modified at any time (for example, a device that has been "jailbroken").

10. Tonik accordingly does not guarantee the functioning and operation of the Application on end devices which have been modified as provided in the previous clause or on older end devices that no longer meet the technical requirements for the use of the Application.

11. Tonik further reserves the right to modify the functionality of Application at any time without prior notice or to entirely discontinue the offer of the application subject to prior communication to all users and the Bangko Sentral ng Pilipinas.

12. Provided that Tonik has exercised the appropriate standard of care and diligence customary in the business, Tonik assumes no liability for losses or damages resulting from the installation or misuse of the Application.

INTERRUPTIONS IN SERVICE

13. While the Application is made available 24-hours a day to you, there is no warranty that the services will be available at all times due to daily cut-off times, scheduled or unscheduled maintenance and/or computer, telecommunication, electrical or network failure or any other reasons beyond our control. Tonik shall not be made liable for loss or damage (including but not limited to those imposed by third parties) due to the foregoing or in relation to transactions or services done through our application or any failure to complete a transaction. The Application, including all content, features and any related services are provided by Tonik on an "As Is" and "As Available" basis at your risk and without any representations or warranties.

14. Except as specified in these Terms and Conditions, all warranties, conditions or terms (whether express, implied, statutory, or otherwise) including without limitation relating to quality, merchantability, fitness for purpose, or uninterrupted, error free access are expressly excluded for Tonik to the fullest extent permitted by law.

15. No representation or warranty, express or implied, can be given as to the accuracy or completeness of the information provided in Application.

16. You acknowledge and accept the risks that may arise from Internet transactions conducted via open systems accessible to anyone and acknowledges that despite the encryption of data, the connection from your personal computer or electronic end devices to Tonik over the Internet may be observable. Tonik may also use servers and other computer hardware situated in any jurisdiction worldwide for the provision of any Account, Application, Card, or Service.

17. Tonik excludes any and all liability for loss or damage caused by transmission errors, technical faults, breakdowns, business interruptions or illegal interventions into transmission networks, your IT systems/computers or of any third party (including systems in the public domain).

DIGITAL SIGNATURES

18. You agree that Tonik may, at its sole discretion, use digital signatures (including but not limited to surrogates of digital signatures such as checking a tick box "I accept" and "I agree" as form of customer agreement in the Application) to sign any documents made available on the Application and you will accept such digitally signed documents as valid documents issued by Tonik.

19. Tonik reserves the right to enable a digital signature feature for your use. Where Tonik exercises such discretion, you will be informed of the minimum requirements in connection with such use and only if you are able to fulfill Tonik's requirements may you avail themselves of this feature. Tonik may nevertheless at its sole discretion decide not to permit you to use digital signatures in your dealing with Tonik.

SECURITY

20. Tonik may use authentication or verification technologies, services or measures as Tonik deems desirable or appropriate. There can be no assurance that such authentication technologies, services, or measures will be completely secure, adequate, or successful to prevent unauthorized access to or use of the Application, hacking or identity theft.

21. Tonik shall ensure implementation of appropriate security measures to secure the Application or Card. However, Tonik shall not warrant the confidentiality, secrecy and security of any information sent through any internet service provider, public Wi-Fi connections, network systems, or other similar systems. You are responsible for ensuring connection to a secured network at all times.

22. You hereby agree to adhere to and comply with all security measures necessary and required for the proper safekeeping and use of your Account (including onboarding, general log-in, transactions etc.), while taking all appropriate precautions to prevent the unauthorized use thereof. You understand and agree to use utmost care in setting your Username and Password or PIN, and Security Questions and Answers. You undertake to avoid the use of easily guessed words and numbers that can be associated to you, such as your date of birth, mobile number, ID numbers, or a part of your name. You shall take reasonable precautions to safeguard your Application credentials and would never leave the device(s) where the Application is installed unattended and ensure to properly exit or close the same after each use.

23. You agree to hold Tonik, its stockholders, directors, officers, employees, and representatives free and harmless, as well as indemnify them, from any and all liabilities, claims, damages, suits of whatever nature, arising out of or in connection with your non-compliance with necessary and required security measures for the proper safekeeping and use of your Account, unless the loss or damage you incurred or suffered is solely and directly caused by the gross negligence or willful misconduct of the bank.

TERMS OF USE AND INSTRUCTIONS

24. All instructions must be given through the Application. However, we may also accept instructions given through other means (such as orally, in writing, facsimile, or otherwise) acceptable to Tonik, provided that:
1. We have received such instructions in such mode or manner agreed on by us from time to time;
2. Our acceptance of such instructions may only be available for certain types of Accounts, Cards, Services, and segments of customers or on an exceptional basis upon your request to us;
3. We may record or make any note of any instruction or communication, including telephone or video conversation between you and us, with or without the use of an automatic tone or other warning device;
4. Notwithstanding the above, we are not obliged to make any note or recording, or maintain copies of any notes or recordings, and the failure to do so shall not in any way prejudice our rights; and
5. Except for gross negligence or willful misconduct committed by our employees and/or officers, we do not guarantee that communications or instructions given in such a manner will be completely secure, and the risk of fraud, misunderstanding, error, delay, and losses resulting from such communications or instructions are entirely at your own risk and we will not be liable for the same. In all cases where it would be found that we are liable, we reserve the right to punish, sanction or file an action against such employees and/or officers.

25. You are responsible for:
1. Ensuring that the Application, Card, or Service is used only by you and not by any other person;
2. Ensuring that the mobile number used in opening, maintaining, or utilizing the Application or Card or Service belongs to and used by the same person in whose name the Application or Card is registered;
3. Ensuring that all instructions are accurate and complete, and given in the manner specified by us;
4. Ensuring that your Account has sufficient funds for us to carry out any instruction (you will be responsible for any charges or penalties because of unsuccessful transaction due to insufficiency of funds or dormancy of Account);
5. Ensuring that any transaction or activity through the Application or Card does not breach any regulation or law;
6. Ensuring that the instructions are not varied or cancelled after they have been received or processed by us;
7. Following our instructions in connection with the Accounts, Cards and Services, and complying with all applicable laws;
8. Keeping the confidentiality of your PIN, OTP, or Password, and refraining from disclosing them to any other person;
9. Activating the Tonik ATM/Debit Card through the Application and signing the back of your Tonik ATM/Debit Card once you receive it;
10. Always checking the transaction records pertaining to activities done with your Application or Card. If you believe there is any error, you must immediately notify Tonik;
11. Promptly examining your statements upon receipt and if you discover any discrepancies, omissions, inaccuracies, or incorrect entries, immediately reporting to us any of the foregoing;
12. Informing us as soon as reasonably practicable if you know or suspect that someone else knows the Card number and/or the ATM/Debit PIN, and/or Password, or that any of the foregoing has been lost, stolen, or compromised, or that unauthorized transactions have taken place; and if you fail to do so you will be liable for any transactions made on your Account;  and
13. Giving us all relevant and necessary documents, information, and assistance we may need, especially for investigations into crimes and frauds.

26. Tonik may:
1. Act on any instruction we believe in good faith has been given by you;
2. From time to time require the use of access procedures, require additional conditions, and change or implement new security procedures for accepting instructions;
3. Refuse to act on any instruction, or cancel or reverse any instruction if we deem that such refusal is necessary, desirable or appropriate;
4. Refuse to act on any instruction that would result in transaction limits being exceeded;
5. Cancel or reverse any action taken on the basis of an instruction or demand for refund, debit the Account, cause an amount to be unavailable for withdrawal, or treat the Account as overdrawn or exceeding its limit, if:
1. We need to correct any error or omission;
2. We are required to return funds to the payer or drawer;
3. We have not received cleared and unconditional funds in full or in time;
4. We find any case of fraud or forgery;
5. Our internal checks indicate that the instruction was not from you; or
6. We have reasonable grounds to do so for any other reason whatsoever;
6. Agree to the variation or cancellation of any prior instruction, subject to required conditions. When the conditions are met, we will endeavor to stop a transaction when instructed to. However, we will not be responsible for any loss you may incur for our failure to cancel the transaction.

27. We may disregard any instruction, or refuse to provide access to or allow you to use any Account, Card, or Service if:
1. We are of the opinion that the instruction is inconsistent, incomplete, incorrect, misleading, unclear, conflicting, fraudulent or not given in a manner specified by us;
2. It is unreasonable and impracticable to do so;
3. It is against our business practice or any internal policy or procedure;
4. It is against any applicable law or regulation;
5. It results in an Account being overdrawn or exceeding the daily transfer limit or category limit on the Account or the transaction limit for any Account, Card, or Service being exceeded;
6. You have breached the account credit limit and have not provided us with the relevant documentation required to upgrade your Account;
7. A minimum balance requirement applies to the Account and the instruction would cause the Account balance to fall below that minimum balance, subject to clauses in the Service and Bank Charges section of this Terms and Conditions;
8. Circumstances beyond our control prevent your instructions from being carried out, or you have not provided us with all documents, verification, and information we require;
9. In case if you declare bankruptcy, experience legal or physical incapacity, or pass away, Tonik has the right to freeze or suspend operations on your Account, Application, Card, or Service. During this time, we may not act on any instructions or documents presented, refuse access to funds in the Account or any Card or Service, without taking responsibility for any resulting losses incurred by you, your successors, or any third party. This restriction will remain until Tonik receives the necessary documents, to our satisfaction, for the transfer of ownership of the Account, Card, or Service, including evidence of the authorized individual(s) to claim the ownership. Your outstanding obligations to Tonik and the Terms and Conditions shall remain valid even after the termination of your right to use the Account, Application, Card, or Service.

28. We shall not be obliged to provide any guarantee that:
1. an instruction will be carried out within a particular timeframe or in any particular order
2. there will be no time lag between the time you provide an instruction and the time the instruction is carried out by us; or
3. unless the security breaches were caused by our willful misconduct or gross negligence, an instruction will be completely secure, and we shall not be liable for any security breach.

COMMUNICATIONS

29. You must notify us through an acceptable method specified by us if there is any change in your particulars or contact details (e.g. Mobile Phone Number, Postal Address, Marital Status, etc.). Tonik, its officers and employees shall be held free from any harm for damages, claims and demands from your failure to do so.

30. Notices, documents, and communications will be sent via the Application (including through push notifications sent to your end device whether or not you are logged into the Application, or notifications feed in the Application), or other methods we deem suitable.

31. You shall take all steps necessary to allow the Application to send push notifications to your end device and send notifications via the Application. You acknowledge that if you do not take such steps, you may not receive such notifications and will indemnify Tonik for any loss or damage resulted from not receiving said notifications.

32. You agree that unless otherwise expressly provided in writing, any notices, information, documents, and communications sent by us to you will be deemed effective or received by you in the following manners acceptable to Tonik:
1. If sent by electronic mail, SMS, or via the Application, at the time and date it is dispatched from our system to you;
2. If sent by hand, at the time of delivery;
3. If posted on our website or third-party links, on the date of display or posting;
4. If sent by mail to an address within the Philippines, the following banking day after mailing;
5. If sent by mail to an address outside the Philippines, five (5) banking days after mailing;
6. If advertised in the newspaper, on the day of advertisement, and;
7. If broadcast via radio or television or any other broadcasting means, on the date of broadcast.

33. Your communications and notifications to us through the Application will be valid if such are received in a legible form and acknowledged by us.

34. Tonik reserves the right to utilize digital communication methods and artificial intelligence (AI) tools for interacting with customers, providing information, delivering services, and enhancing customer experience. By maintaining an account with Tonik, you consent to the use of digital communication and AI tools such as voicebot and and/or chatbot for these purposes.

35. Tonik employs voicebot and and/or chatbot technology powered by generative AI as channels for interacting with customers to provide assistance, information, and services. The voicebot and chatbot are automated systems designed to address general common inquiries, transactions and collection calls related to the voicebot and/or chatbot.

36. You understand that while the voicebot and/or chatbot are intended to provide accurate information to the best of its capabilities, there may be limitations on its responses. Complex issues, account-specific concerns, or matters requiring human intervention may necessitate speaking with a customer service representative directly.

37. It is your responsibility to safeguard the security of your personal and account information and to maintain the confidentiality of your account details and any interactions conducted within the voicebot and/or chatbot. Avoid sharing sensitive details such as passwords, account numbers, or personal identification information through these channels.

38. Tonik values the privacy of customer data and ensures that information shared during interactions with the voicebot and/or chatbot is handled with strict confidentiality in compliance with relevant data protection laws.

39. Our use of artificial intelligence (AI) and machine learning technologies helps us analyze, develop, and enhance our products and services to provide you with a seamless and effective banking experience. By interacting with us, you agree that we may use these interactions to improve our processes, algorithms, and AI models, including for purposes such as training and fine-tuning.

40. Your feedback on your experience with the voicebot and/or chatbot is valued to enhance the service. In cases of dissatisfaction or unresolved issues, you have the option to escalate your concerns to a customer service representative for further assistance.

41. While Tonik endeavors to maintain the availability of voicebot and/or chatbot services, instances of downtime or technical issues may occur, affecting its functionality. In such situations, alternative communication channels will be provided for customer assistance.

42. By using our voicebot and/or chatbot, you agree not to submit, send, post, or publish any material through the voicebot and/or chatbot that we may deem abusive, defamatory, illegal, indecent, threatening, obscene, pornographic, invasive of privacy or publicity rights, or otherwise harmful to others.

43. Any new enhancements, features and tools added to the voicebot and chatbot or any channels where voicebot and/or chatbot is available will also be governed by these Terms and Conditions.

44. Tonik Digital Bank reserves the right to refuse access to the voicebot and/or chatbot service to any individual for any reason at any time. By utilizing the voicebot and/or chatbot services provided by Tonik, you consent to abide by the terms and conditions regarding the use of these channels for interacting with Tonik. Tonik reserves the right to update or modify these provisions as necessary, with prior notification to customers whenever feasible. It is your responsibility to review these Terms periodically to stay informed of any changes.

AUTHORIZATION

45. You authorize Tonik to obtain and verify the personal information collected from you through government agencies or third parties including other banks, financial institutions, and credit bureaus, for any purpose, including for verification of your card details from other banks.

46. You allow Tonik to conduct background checks on your financial capability or for any other legitimate purpose Tonik may deem necessary.

47. You further authorize Tonik to disclose your Account information to any appropriate judicial, government or regulatory agency/ies for purposes of prosecuting, legal action or remedies available under applicable laws if we have the reason to believe that your Account has been compromised.

48. You consent to Tonik storing, processing, and disclosing, in compliance with the Philippines Data Privacy Act of 2012 (“DPA”) and Tonik's Data Privacy Statement, your personal information, including but not limited to transaction and payment history, to government agencies and/or third parties including other financial institutions and credit bureaus for the purposes of determining other products and services that can further meet your preferences and needs and to offer you other Tonik, Tonik Affiliates’ and third party (Tonik partners’) products. To learn more about the Bank’s Data Privacy Statement, you may visit the Bank’s website at: https://tonikbank.com/data-privacy-statement.

49. You permit Tonik to use your non-personal information for statistical and research purposes.

50. In addition to the consents, authorizations and agreements stated in the Tonik's Data Privacy Statement, you hereby agree that the collected personal information can also be used for or in the following means:
1. sending of updates and notifications in relation to the Tonik products;
2. used in any market research or study of Tonik on its products;
3. marketing of products and services of Tonik, and its Affiliates, and of Merchant-Partners, including marketing initiatives, special offers, or promotional activities through electronic mail, SMS, telephone calls, social media, e-commerce or other means of communication or channels;
4. enhancing the products of Tonik, which includes surveys, benchmarking, profiling, statistical analysis, planning and research;
5. curation of offers of other products or services that will fit each borrower’s profile and relationship with the Bank.

ACCOUNT OPENING

51. Accounts may be opened subject to the approval of Tonik, after taking into consideration the submission of relevant information and documents acceptable to Tonik and after verification of an applicant’s identity and/or authority to open the Account.

52. To be eligible to open an Account with Tonik, you must:
1. Be at least 18 years of age;
2. Be an individual who is a resident citizen of the Philippines;
3. Have at least one (1) valid Philippine government issued identification document (“ID”);
4. Have a present and/or permanent Philippine address;
5. Have a valid and registered local Philippine mobile number which is used exclusively by you and not shared with another person; and
6. Have a valid e-mail address.

53. You warrant that you are not suffering from any legal disability upon opening of the Account.

54. Upon successful Account opening, you agree that you may be asked to make an initial deposit in an amount determined by Tonik prior to the start of the Account opening process.

55. All your Accounts will be denominated in Philippine Peso (PHP).

56. All transactions with Tonik will be done through the Application or Card. All products or Services that Tonik provides to you will be visible in the Application.

57. You agree to be governed by the processes for initiating and concluding transactions through the Application or Card. By enrolling for an Account with Tonik, you warrant that:
1. You are familiar with the Application or Card and how transactions are processed therein; and
2. The use of the Application or Card, including transactions you initiate, process, and conclude, shall only be for lawful purposes.

58. You shall create your Password upon enrolment to the Application in order to carry out your banking transactions via the Application.

59. You may activate biometric authentication as an alternative method to accessing your Application.

60. You agree that, for your own protection, Tonik can invalidate your Password or lock your Account or the Application without prior notice:
1. if your Password does not comply with the security requirements of Tonik, as the same may be amended and updated from time to time;
2. if the wrong Password is entered for such number of times and within such time period as Tonik may determine;
3. if you report to us that you reasonably suspect any unauthorized use of your Account or the Application; or
4. if you do not comply with the KYC or due diligence requirements.
Tonik shall not be held liable for any loss or damage for the invalidation of your Password or locking of your Account or the Application.

61. You may change your Password or PIN at any time. You must keep your Password or PIN confidential and ensure that you have exercised reasonable care to prevent unauthorized transactions, access, and/or use of your Password or PIN. You will be required to change your Password once every ninety (90) days.

62. Tonik Account processed under “Fast Onboarding” (i.e. no ID provided during onboarding/registration) will be given access to a virtual debit card and will have a 12-month validity period to complete and submit the documentary requirements. Your Tonik Account will allow you to have 2 Solo Stashes and to contribute to Group Stashes as a member. Time Deposits will not be allowed. The Tonik Account and the 2 Solo Stashes will have a maximum combined balance of PHP 50,000 with Tonik Account’s total aggregate credit of PHP 100,000 in a year. Should your Tonik Account reach the total aggregate credit, your Tonik Account will not be able to receive any funds from any source (such as but not limited to account top-up, withdrawing from any of the Stashes to your Tonik Account, receiving money from other people via transfers from their Tonik Accounts or via other banks) and thus you will be required to upload any of the government ID accepted by Tonik and to submit the required documentary requirements. You may close your Accounts if you cannot fulfil the documentary requirements.

63. After uploading your government ID and submitting the required documentary requirements, and after our further verification of such documents and, if Tonik deems it necessary, the submission and verification of additional KYC documents, the 12-month validity period, total balance limit and total annual aggregate credit limit may be removed. You will then be eligible for a physical ATM or Debit Card, be entitled to upgrade your Tonik Account to 5 Solo or Group Stashes, and 5 Time Deposits.

64. Tonik reserves the right to request for additional actions or documents from the customer such contacting your registered valid Philippine mobile number, conducting live video call verification, submitting proof of income and address, providing source of fund certification and other relevant actions or documents for due diligence and “Know-Your-Customer” (KYC) requirements as prescribed by us and the regulators. You understand that you have the responsibility to provide the same.

65. You are required to provide Tonik with necessary information and documentation as may be requested by us from time to time and update such information as necessary to ensure compliance with applicable laws, regulations, and governmental requirements by Tonik or any of its affiliates.

66. In case you do not comply with the KYC or due diligence requirements, Tonik has the right to restrict any withdrawal and/or deposit transaction from/to your Account and/or to suspend or terminate your access to your Account.

67. You shall be liable for the payment of any of your obligations as depositor to Tonik, and Tonik may at its own discretion apply all or any part of the Accounts (including Time Deposit Accounts) to the payment in whole or in part of any obligation that may be due to Tonik.

DEPOSITS

68. You acknowledge, accept, and agree that any deposits to be made to the Account can only be made through such channels provided by or made available by Tonik from time to time, such as, but not limited to, Cash-In at Tonik’s designated partners or directly in the Tonik Application. For deposits made via Cash-In through Tonik’s partners, all deposits must be made by following the latter’s procedures for Cash-In.

69. Cash-Ins through the Tonik Application may be done by linking your Account with your card or account from other financial institutions/card issuers in the Philippines, or via other methods as may be made available in the Application, such as but not limited to Cash-ins to your Account using the mobile application/s of other banks/card issuers in the Philippines. You represent and warrant that any card or account which you would link with your Account, or your card or account from other banks/cards that you utilize for Cash-Ins, shall be legally under your control and possession, and, in the case of Cash-ins sent, transferred, or remitted by third parties, that such Cash-ins shall be authorized by the owners of the source of the funds.

70. Only locally issued MasterCard and VISA, 3DS-enrolled cards may be linked to your Tonik Account.

71. All your Cash-Ins via the linked account/s or card/s will be considered valid and final.

72. You acknowledge and agree that deductions, chargebacks, and/or reversals may be implemented on your Account, or your Cash-In may be invalidated, at the instance of the other bank/card issuer. Tonik will not be liable for any amount or fees if the Cash-In is later invalidated by the other bank/card issuer for any reason including, but not limited to, chargebacks, claims, or for any reversal made by the other bank/card issuer.

73. You hereby authorize and allow Tonik to communicate with your other bank/card issuer for the settlement of imposed amount or fees, or such chargebacks, claims, or reversals. Should such imposed amount or fees be charged to Tonik by the other bank/card issuer, Tonik may recover such amount due to the other bank/card issuer by debiting such imposed amount or fees from your Tonik Account.

74. You shall be responsible for filing and resolving disputes with your other bank/card issuer in the event any dispute arises from the usage of their issued cards as the Cash-In channel.

75. The initial deposit and the minimum subsequent deposits must be in such amounts as may be reasonably determined by Tonik.

76. Tonik may, at its discretion, refuse to accept deposits or at any time return all or part of a deposit together with the interest due, as may reasonably be determined by Tonik.

77. You assume full responsibility for the correctness, due execution, genuineness, and validity of all endorsements appearing on all items deposited. All endorsements and/or lack of endorsement on the items deposited are guaranteed by you.

78. For each deposit to or withdrawal made from your Account, you warrant that you have full and absolute title and right of disposition over the money and funds in your Account.

WITHDRAWALS

79. You acknowledge, accept, and agree that any withdrawals to be made from the Account can only be made through such channels provided by or made available by Tonik from time to time, such as, but not limited to, ATM of partner institutions or Cash-Out at Tonik’s designated partners or directly in the Tonik Application. If the withdrawal is made via Cash-Out through Tonik’s designated partners, all withdrawals must be made by following the latter’s procedures for Cash-Out. Cash-Outs through the Tonik Application may also be done through previously linked card/s from other banks/card issuers, or via other methods as may be made available in the Application.

80. You will not be permitted to withdraw from your Account any amount in excess of the available balance in your Account.

81. You will also not be permitted to withdraw from your account the blocked/held amounts that serve as advance payments to your Tonik Loan Account/s. However, should you decide to fully pay your Tonik Loan Account/s, the Loan Management feature in the Tonik App will be enabled so that the blocked/held amounts will be available for withdrawal. The release of blocked/held amounts will be contingent upon the full payment of your Tonik Loan Account/s.

ACCOUNTS

82. Statements of Transactions will be provided for all Accounts and will be made available electronically for viewing in the following month. You will not be issued a passbook, paper statement, or paper confirmation advice. You shall hold the Tonik free and harmless from any and all liability should the Statement of Transactions be read by a person other than yourself. Neither will you be permitted thereafter to raise as a defense that you failed to receive the Statement of Transactions.

83. You can only have one Tonik Account (main savings account) at all times, opened and operated singly.

84. Your Cash-Out, withdrawal, fund transfers, and payments can only be made from your Tonik Account. You can access your Solo Stashes, Group Stashes or Time Deposit only through your Tonik Account. Should your Tonik Account be suspended or closed, your Solo Stashes, Group Stashes or Time Deposits would be considered closed as well.

85. Solo and Group Stashes
1. We reserve the right to reject and/or not give interest for the deposit or fund transfer to Stashes from any Account other than your Tonik Account (or contributing to Group Stash from Tonik Account).
2. Solo Stash is accessible from your Tonik Account. The movement of funds is solely through your Tonik Account and the Solo Stash will not be linked to your ATM/Debit Card.
3. Group Stash can be accessed by the Group Stash owner (i.e. person who opens, starts the Group Stash, and invites members to the Group Stash) and Group Stash invited members. The deposit of funds is solely through the Tonik Account of the Group Stash owner and the Tonik Accounts of Group Stash members, while the withdrawal of funds is solely through the Tonik Account of the Group Stash owner. The Group Stash will not be linked to the Group Stash owner’s ATM/Debit Cards.
4. Funds transferred to a Group Stash will belong to the owner of the Group Stash. Use of funds is solely within the discretion of the owner of Group Stash.
5. A Solo or Group Stash with less than Php 1 balance, and with no debit or credit transaction for 180 days, or a newly created Stash with “Zero” balance from date of account creation for 60 days, will be closed.

86. Time Deposits
1. For a successful Time Deposit placement, you must agree with the conditions indicated in the creation confirmation screen in the Application, which shall include the prevailing interest rate. A TD Confirmation Certificate which contains, among others, the amount you deposited into the Time Deposit (also called the principal or the Time Deposit investment amount), term, maturity date, and primary interest rate will be made available to you electronically at the next banking day.
2. Time Deposit is accessible only from your Tonik Account. The movement of funds is solely through your Tonik Account and the Time Deposit will not be linked to your ATM/Debit Card.
3. You may choose to have a Time Deposit placement for one term, or have it roll-over for one or more terms, each for the same period as the original term. If you choose to not roll-over your time deposit, the principal Time Deposit amount and its earned interest will be credited automatically to your Tonik Account at maturity date. You will receive a TD Maturity Certificate that will be made available to you electronically on the next banking day.
4. If you choose to roll-over your time deposit, Tonik will automatically roll-over your principal Time Deposit amount for another similar term at Tonik’s prevailing interest rate as of the first day of the relevant roll-over term. The earned interest, regardless of the amount of the principal Time Deposit or earned interest, will not be included in the roll-over amount and will instead be credited automatically to your Tonik Account at maturity date. A TD Roll-over Certificate which contains, among others, the principal Time Deposit amount, term, maturity date and updated interest rate will be made available to you electronically on the next banking day.
5. You will be able to change your roll-over settings for your Time Deposit, whether to roll-over or not, in the Application until three (3) days before the maturity date of the relevant Time Deposit.
6. The prevailing interest rate for the Time Deposit may change from time to time as may be determined by Tonik and in accordance with applicable laws, rules, and regulations. The prevailing interest rate at the time of roll-over of the Time Deposit may be different from the primary interest rate at the time of original placement. Should you choose to roll-over your time deposit, you agree that the updated interest rate may be higher or lower than the primary interest rate. You are responsible for ensuring that you are aware of the prevailing interest rate at the time of roll-over.
7. If the principal Time Deposit amount to be rolled over exceeds the maximum Time Deposit amount permitted by Tonik as of the roll-over date, the said Time Deposit will not be rolled over and you will not be allowed to use the roll-over settings for such Time Deposit. Your principal Time Deposit amount and its earned interest will be credited automatically to your Tonik Account at maturity date. You will receive a TD Maturity Certificate that will be made available to you electronically on the next banking day.
8. A matured Time Deposit account will be closed if rollover setting is not enabled.
9. TD Confirmation and TD Rollover Certificates are notifications of the Time Deposit status or placement in Tonik and are not evidence of ownership and are non-transferable.
10. Early withdrawal of the Time Deposit may incur a Documentary Stamp Tax (DST) charge as determined by Tonik, penalty charge and an adjustment in interest rate as determined by Tonik upon confirmation of early withdrawal. Upon early termination (i.e. withdrawal before agreed maturity date), you will receive a TD Early Withdrawal Certificate that will be made available to you electronically at the next banking day.
11. Early withdrawal of the Time Deposit can only be made for the full amount of the Time Deposit. No partial withdrawal will be allowed.
12. Cooling period of six (6) days applies for all new Time Deposits only. Interest on the time deposit will not be given for withdrawal during the “cooling off” period. Tonik may recover any loss arising from the exercise of the cooling period and collect processing fees, depending on the policy it may adopt within the limits allowed by law and regulations.
13. In case you cannot be located or contacted, or unable to fulfil KYC requirements, Tonik shall have the discretion to terminate your Time Deposit, in which case, the provisions on Time Deposit early withdrawal herein shall apply.

87. Interest
1. Interest bearing Accounts shall earn interest at a rate determined by Tonik on a per annum basis and in accordance with applicable laws, rules, and regulations.
2. Interest for Tonik Account and Solo or Group Stashes will be computed daily based on daily cleared balance, credited to the respective Account at the end of month or at the start of the following month, and subject to applicable withholding taxes. Interest for Time Deposit will be credited at maturity date or termination thereof, whichever comes first, and subject to applicable withholding taxes.
3. Interest rates and interest calculation methods may change when conditions warrant from time to time and Tonik will notify you via appropriate methods.
4. Interest for dormant Accounts shall follow the rule for active Accounts and will be credited as scheduled.
5. No interest will be paid on Tonik Account closed prior to the scheduled crediting of interest.
6. Blocked/Hold-out Deposit Balances intended as advance payments for your Tonik Loan Account/s shall also earn an interest at a rate as determined by Tonik on a per annum basis and in accordance with applicable laws, rules, and regulations.

88. Accounts shall be subject to applicable PDIC laws, rules, and regulations including the insured value as follows:
1. Deposits are insured by PDIC up to ₱1 Million per depositor; and
2. PDIC shall assume that the name(s) appearing on the deposit instrument is/are the actual/beneficial owner(s) of the deposit, except as otherwise provided.

TRANSACTIONS

89. You agree that all transactions done via the Application or Card shall be processed from your Tonik Account. The transaction amount verified by Tonik is deemed to be the correct amount transacted by you in your Account.

90. You agree that you may use your Card only upon activation in the Application. If you do not activate the Card, you understand that it will remain inactive and any transactions with the use of the inactive Card would be declined.

91. By using your OTP, Password or PIN, or other forms of authentication including but not limited to signed form or memo or providing confidential Card details (such as CVC), you authorize Tonik to carry out the transactions that you have initiated through the Application or Card via ATM, POS, or online transactions. All transactions shall be deemed as having been authorized by you and shall be valid and binding.

92. Tonik reserves the right to impose and change the maximum limit per day for all types of transactions regardless of the available balance in your Tonik Account.

93. In case of transactions with third parties via the Application or Card, such as bills payments, POS purchases, prepaid reload, and the like, Tonik merely serves as a conduit between you and the payee. Tonik shall not be held liable for any action or claim which may arise between you and the payee.

94. If you are entitled to a refund or rebate for a purchase in part or in whole using Tonik ATM/Debit Card, you agree to seek a refund or rebate only from the merchant establishment purchased from and shall not pursue Tonik for any refund or rebate.

95. In cases when your instructions require third party approval, Tonik’s obligation to perform such transaction will be subjected to the approval and consent of the third party.

96. Tonik shall not be liable for any delay or shortcomings of the third parties you transact with upon Tonik’s execution of the transaction.

97. You agree that the instructions you issue are always subject to limits and conditions set by Tonik, in compliance with local laws and regulations.

98. Any instruction transmitted after the relevant cut-off time shall be posted in the books and records of Tonik on the next banking day following the date of the instruction.

99. Tonik shall not be liable for any loss or damage of whatever nature (including without limitation, charges and or penalties which may be imposed by third parties) in connection with the implementation of transactions via the Application or Card, including but not limited to the:
1. Disruption, failure, or delay in implementation of transactions relating to and in connection with the Application or Card, which are due to circumstances beyond the control of Tonik such as but not limited to prolonged power outages, system breakdown or errors, natural disasters, public disturbances, and calamities and other similar or related cases;
2. Loss or damage you may suffer arising out of any improper, fraudulent access or utilization of the Application or Card due to theft or unauthorized disclosure of Passwords, ATM PINs, or violation of other security measures with or without your participation;
3. Inaccurate, incomplete, or delayed information which you received due to disruption or failure of any communication facilities used for Application or Card services; or
4. Such other circumstances or reasons beyond the control of Tonik which effectively prevent Tonik from implementing the transaction.

100. The use of the Application or Card will be available 24 hours and 7 days a week, and processing of request is subject to the daily cut-off times for transactions of Tonik or partners. When they are not available for transaction, such as in the case of maintenance or any other reason, Tonik shall notify you in advance or at the soonest possible time.

101. Tonik may also reduce the available balance corresponding to the transaction amount upon authorization of any transaction. Some merchants, such as but not limited to hotels, may request confirmation that your Account has sufficient balance to meet the anticipated transaction amount for goods or services to be fulfilled. A merchant may also request subsequent authorizations to cover additional costs for services or goods availed which were not included in the previous transaction amount. You authorize Tonik and any of its employees, representatives and authorized third parties to affect any adjustment, correction or reversal on these transactions any liability imposed on Tonik.

102. You agree to hold Tonik, its stockholders, directors, officers, employees, and representatives free and harmless, as well as indemnify them, from any and all liabilities, claims, damages, suits of whatever nature, arising out of or in connection with the implementation, utilization (whether authorized or unauthorized) of the Application or Card, including any and all errors inadvertently committed by Tonik employees, any computer-related errors resulting in Tonik’s failure to effect any instruction via the Application or Card.

103. Transactions conducted outside the Philippines will be subject to the relevant rules and regulations of the BSP and/or any foreign exchange requirements in place in the country where the transaction occurs. Further, such transactions will be subject such foreign exchange fee(s) as posted on the Tonik’s website https://tonikbank.com/fees-and-charges (as may be adjusted from time to time at the sole discretion of Tonik and upon due notice).

104. If your device is lost, you must immediately contact Tonik through its Tonik Contact Center Hotline or email for the necessary steps to protect your Application and banking details.

105. Any complaint regarding your Card, Account, and/or transactions using the Application or Card shall be communicated by you to any of Tonik’s Contact Center channels within the agreed periods. Provided, however, that all requests pertaining to reversals, adjustments, and corrections for cash-in/cash-out transactions shall be prescribed based on period set by the Bank’s partner channel. The Bank has agreed Service Level Agreements (SLAs) with these partners which are in accordance with the best industry standards.

106. Any dispute for transactions done with the Card should be filed within sixty (60) calendar days from the transaction date. Tonik may conduct an investigation which may include further verification of transaction records, or confirmation with you or the merchant. You shall be fully apprised of the status and results of such investigation through our Contact Center channels. After investigation, Tonik is hereby authorized to debit or credit from your Account in accordance with the findings from the investigation. Should the disputed transactions result positively in favor of you, Tonik shall institute corrective actions and reversals, if warranted.

107. Your use of the Card will be subject to the following terms and conditions:
1. The Card is property of Tonik and Tonik may at any time, without prior notice and without the need to give any reason, therefore, terminate the use of, cancel, or repossess the Card, and decline to issue, renew, or replace the Card.
2. When your Tonik Account is classified as dormant, all Cards previously issued under your Account will be cancelled. Any attempt to use a cancelled card for transactions will be automatically rejected.
3. Tonik may, without giving you any prior notice, suspend any Card service or cause designated partners’ ATMs to retain the Card automatically.
4. You agree to return the Card to Tonik upon Tonik’s request.

108. The Card is valid for five (5) years from issuance and upon expiry, you shall initiate a replacement request.

109. Lost, Stolen, or Compromised Cards
1. In the event the Card is compromised, lost, or stolen, it is your responsibility to immediately lock the Card from the Application and report the loss by contacting Tonik through its Contact Center chat in the Application, Tonik Contact Center Hotline, or email in order to block the lost Card.
2. Prior to receipt by Tonik of your report of loss or theft, all transactions generated by the use of the Card shall be deemed conclusively binding upon you, and Tonik will not be held liable for any loss or damage incurred by you due to your failure to report the loss or theft. However, Tonik should timely receive the notice and correspondingly, you shall adequately provide the required information and proof to support the disputed transactions, so that the provisions of Section 106 shall be observed.

110. Retrieval of captured ATM Cards from partner ATMs shall be the responsibility of the accountholder.

111. Cards bearing the Mastercard logo can be used for transactions at Mastercard ATMs, POS, and Online Merchants located in countries outside the Philippines, from your Account in the Philippines. You acknowledge that such overseas transactions may be subject to transaction fees, foreign exchange mark-ups, and the relevant exchange rate governing such transactions that Tonik and/or Mastercard affiliated banks/financial institutions will determine. You authorize Tonik to debit from your Account all charges including those incurred in countries outside the Philippines through the use of the Cards. Such charges shall be billed and payable in Philippine Pesos, subject to a foreign conversion factor, as may be imposed by Tonik at the time of posting of the transaction.

112. If your Card is not honored at BancNet or Mastercard accredited establishments, you agree to hold Tonik free and harmless from any and all claims or liabilities as a result of the refusal of any BancNet or Mastercard accredited establishment.

AUTHORITY TO WITHHOLD, DEBIT AND SET-OFF

113. You hereby grant Tonik the authority to withhold any funds currently held or that may be deposited in your Tonik Savings Account in the future, as security for any and all obligations owed to Tonik. This includes funds deposited for safekeeping or in any other manner. These funds will be utilized to settle any outstanding obligations arising from your Account or any other transactions between you and Tonik. Tonik is permitted to debit your Account to settle these obligations.

114. Tonik is likewise authorized to debit, charge, or set-off from your Account any outstanding debts you owe to Tonik, its subsidiaries, affiliates, successors, or assigns. This includes loans, interest, penalties, charges, and any other amounts due, regardless of whether they are secured by promissory notes or other credit or collateral agreements. Furthermore, you acknowledge your liability for any remaining obligations after such deductions have been made.

OVERDRAFTS

115. You cannot rely on the operation of the Application to prevent an unauthorized overdraft being created. For example, you must remember that any payment instructions you have given using the Application may not be given immediate value or immediate effect and might not always be immediately reflected in the balance on your Account. You must not use the Services or Application to create an unauthorized overdraft on your Account and we are entitled to refuse to accept any instruction that would do so. If an unauthorized overdraft is created, we may take any action we think fit and charge applicable interest and charges to the Account in question.

SERVICE AND OTHER BANK CHARGES

116. Tonik is authorized to collect from you all applicable service charges, penalty charges, and other fees your Account may incur.

117. Transactions carried out via the Application or Card are subject to applicable fees and charges at the time of the transaction. Tonik, with prior notice, may from time to time introduce or change fees and charges for the use of the Application or Card. You authorize Tonik to debit from your Account the amount of fees and charges payable for transactions made via the Application or Card.

118. Service charges, fees and penalties include but are not limited to, the following:
1. Annual fee;
2. Fees for Accounts falling below the required maintaining balance;
3. Dormancy fee;
4. Time Deposit Early Withdrawal fee;
5. Card related fees;
6. Other fees and charges Tonik may impose or introduce from time to time, depending on the policy it may adopt within the limits allowed by law and regulations.
Tonik currently does not charge a minimum maintaining balance or an annual fee, but for future reference, subject to BSP requirements, we reserve the right to impose such fees.

119. Accounts with Zero balance due to service charges or other causes may be closed by Tonik, as provided in the sections on “Closure of Accounts.”

120. Information on service charges and other bank charges is available on the Tonik website and detailed in the Application. Tonik may change service and other bank charges from time to time with prior notice as stipulated by applicable laws.

121. Tonik may suspend or terminate Services if at any time there are insufficient funds in the said Account/s to cover applicable fees and charges, without Tonik incurring any liability as a result thereof.

CLOSURE OF ACCOUNTS

122. You may only close your Tonik Account if you have no outstanding loan or obligations to Tonik. In the event of closure of your Tonik Account, you would have to re-register in order to use the Application again.

123. Tonik may, at its sole discretion, opt not to close your Tonik Account, if the Account has transaction instructions (e.g., auto-debit), or there are other Accounts with sufficient balance linked to your Tonik Account.

124. Tonik may, at its discretion, close your Tonik Account if any of the following instances (whichever comes first) occur:
1. Customer has Zero balance in total on all deposit products:
1. If you opened a Tonik Account, and you have not funded that Account within the first 60 days from the date of its opening;
2. If you have opened a Tonik Account and maintained Zero total deposit balance in all Accounts (across Tonik Account, Solo/Group Stash, and Time Deposit) since opening, and you have not logged into the Tonik Application within 60 days after the date of onboarding;
3. If your loan application was rejected, and you maintain Zero total deposit balance in all Accounts (across Tonik Account, Solo/Group Stash and Time Deposit) and your Tonik Account has not been funded since the date of onboarding to 30 days after the date of loan rejection;
2. Customer becomes inactive. You become an Inactive Customer if:
1. Your Tonik Account has no client-initiated or third-party initiated transaction for 3 consecutive months and;
2. You have a total deposit balance in all Accounts (across Tonik Account, Solo/Group Stash and Time Deposit) of less than P1.00 during said 3-month period;
3. Customer has not upgraded their basic deposit account
1. If you do not submit the documentary requirements within the 12-month period from the date you opened your Tonik Account, or once your total deposit balance in all Accounts (Tonik Account and Solo Stash) reaches the total aggregate credit limit, and you are unable to upload any of the government IDs that Tonik accepts.

125. Should the account closure be due to you becoming an Inactive Customer, Tonik shall have the right to impose a one-time Inactivity Fee of P1.00, and remove the remaining funds in the Account and transfer the same to a liability account or such other account as Tonik may determine at its sole discretion, without prejudice to the turnover of the same to the Philippine Treasury in accordance with the then applicable law, rules, and regulations.

126. Should the account closure be due to the failure to submit the documentary requirement within the 12-month period from the date you open your Tonik Account, Tonik shall have the right to remove the remaining funds in the Account and transfer the same to a liability account or such other account as Tonik may determine at its sole discretion, without prejudice to the turnover of the same to the Philippine Treasury in accordance with the applicable law, rules, and regulations.

127. Tonik reserves the right to immediately suspend or close your Account without prior notice in the following situations:
1. in case you misrepresent or falsify information;
2. if Tonik suspects that the Account may be, may have been used, or is being used in connection with any fraudulent or illegal activities or transactions;
3. if Tonik perceives, at any time, that it may be exposed to any financial, operational, legal, reputational, or other risks in maintaining the Account;
4. if you fail to abide by any provision of the Tonik terms and conditions for deposit accounts;
5. if the following circumstances occur or is present:
1. you are, or there is reasonable suspicion that you may be, engaging in or facilitating the illegal use or acquisition of an Account, Service, or funds;
2. you exhibit unacceptable behavior, such as behaving in a threatening or violent manner towards our staff;
3. you were not authorized to download the Application;
4. we have requested repayment of an overdraft balance on your Account, and you have failed to comply with the repayment demand.
5. we have justifiable reasons to suspect that your security information has been compromised;
6. we have valid reasons to believe that you have violated or are at risk of violating any laws or regulations related to your Account;
7. you have not satisfied a KYC or due diligence requirement;
8. there has been fraud involving your Account or any transactions, or we suspect fraudulent activity;
9. suspicious activity has occurred on your Account, or we suspect such activity;
10. we have reasonable grounds to suspect unauthorized or fraudulent use of your security information;
6. if we determine that continuing the contractual agreement may result in a violation of laws, regulations, or court orders, or may expose Tonik to potential government, regulatory, or law enforcement actions; or
7. if we determine that suspension is a reasonable or necessary measure to safeguard Tonik from harm, maintaining integrity, security, reputation, or operational stability.

128. Tonik reserves the right to suspend or close your Account if you have handled your Account in a manner not satisfactory to Tonik or if you perform a successful withdrawal against insufficient funds and/or uncollected deposits.

129. In the event your Account is suspended or closed on the ground that the same is improperly handled,
1. you acknowledge, accept, and agree that Tonik shall report such closure and the reason(s) therefore to the relevant regulatory body or to the regulator accredited credit bureau or organizations to keep record of mishandled deposit accounts.
2. if there is a remaining balance in your Account, Tonik shall reimburse the remaining balance upon such closure.

130. Tonik, its respective stockholders, directors, officers, employees, and representatives, shall be held free and harmless from any liabilities, claims, and demands of whatever kind in connection with or arising from the closure of your Account and/or Tonik’s reporting of the account closure and the reason therefore to the relevant regulatory body, or any monitoring entity or body established by the relevant regulatory body, or entity established by law to keep record of and monitor mishandled deposit accounts, or regulator accredited credit bureau or organizations.

DORMANCY AND UNCLAIMED BALANCES

131. Deposit Accounts, including your Tonik Account, Solo, and Group Stashes, as well as those with Automatic Transfer Facility options, which have no financial transaction for two (2) years or twenty-four (24) months for all Savings Accounts shall be classified as DORMANT.

132. You will be notified within sixty (60) days prior to the change in the status of your Tonik Account from active to dormant. Additionally, Tonik will give you advance notice before applying a dormancy fee to your Account. This fee applies if there has been no activity in your Account for five years and your balance falls below the required minimum monthly average balance.
133. An Account being labeled as "DORMANT" applies separately to each relevant savings Account and does not affect others.

134. If your Tonik Account goes dormant:
1. You will not be able to perform any deposit or withdrawal transaction with your Tonik Account;
2. To reactivate your Tonik Account, you are required to perform re-KYC in the Application and make a deposit or withdrawal transaction within thirty (30) days from date of re-KYC.
3. Any Solo or Group Stash owned by you will remain active, granted that these savings Account/s have not been classified as dormant. If they also become dormant, a Solo or Group Stash can be reactivated by performing a debit or credit transaction to the said savings Accounts.
4. Any Time Deposits with roll-over instruction will continue to do so even if the associated Tonik Account becomes dormant. The interest earned on a matured Time Deposited will still be credited to the Tonik Account but this action will not be considered a financial transaction.
5. Crediting the proceeds and interest from a matured Time Deposit, which does not have a roll-over instruction, to a Tonik Account marked as dormant will not be recognized as a financial transaction.

135. If your Solo Stash goes dormant:
1. You must immediately fund the Solo Stash from your Tonik Account to reactivate it.

136. If your Group Stash goes dormant:
1. The Group Stash must immediately be funded either by you or by any Group Stash member to reactivate it.

137. Pursuant to the provisions of existing laws, all “unclaimed balances” which represent deposits of money and/or interest accrued thereon held by Tonik for any customer who has no further financial transactions for a period of ten (10) years or more, shall be reported and, when so ordered, will be remitted by Tonik to the Treasury of the Philippines, for credit to the government of the Republic of the Philippines.

138. During the time your Tonik Account is dormant, Tonik reserves the right to restrict deposit or withdrawal transactions. You must provide Tonik with the required documents to remove the restriction and reactivate the account.

MISCELLANEOUS

139. Pursuant to the Implementing Rules and Regulation (IRR) of R.A. 9160 or the Anti-Money Laundering Act of 2001, as amended, you grant irrevocable and unconditional authority to Tonik to report to the Anti-Money Laundering Council (AMLC) any covered and suspicious transactions involving your Account. You hold and set free Tonik, its respective stockholders, directors, officers, employees, and representatives in the discharge of their duties in accordance with this law.

140. In compliance with the provisions of R.A 1405 or the Law on Secrecy of Bank Deposits, Tonik shall not entertain inquiries or instructions over the telephone or by fax, telegram, electronic mail or cable message regarding any Account from third parties, unless authorized in writing by you.

141. Your continued access and use of the Application, your Account, or your ATM/Debit Card will constitute acceptance of Tonik’s Data Privacy Statement, as it may be revised or updated from time to time.

142. Tonik shall not be held liable for any loss or damage that may be incurred by you or any third party due to or occasioned by imperfect computer programming procedures or by any defect in the material or workmanship of any computer equipment which did not arise from our gross negligence or willful misconduct.

143. We also shall not be liable for any delay, non-performance, or failure to perform any of our obligations in connection with the Accounts or Tonik’s Services, or channels due to, arising from, or caused by, directly or indirectly, circumstances beyond our reasonable control, including, without limitation to acts of God, natural disasters, calamities, earthquakes, fire, floods, wars, rebellion, civil or military disturbances, sabotage, acts of terrorism, criminal acts or willful misconduct by any party other than the bank, its officers, or employees, epidemics, pandemics, loss or malfunction of utilities or facilities, power outages, electrical or mechanical failure, computer hardware or software failure, system failure or downtime, network or telecommunication failure, causes or acts attributable to third parties, labor disputes, strikes, walkouts, riots, lockouts, governmental actions, or other similar occurrences (the “Force Majeure Events”)."

144. In case of extraordinary inflation or deflation of the currency stipulated herein, the provision of Article 1250 of the Civil Code shall not apply.

145. You agree to be governed and bound by pertinent laws and regulations, such as but not limited to that of the Bangko Sentral ng Pilipinas (BSP), the Anti Money Laundering Council (AMLC), the Bureau of Internal Revenue (BIR), Philippine Clearing House Corporation (PCHC), Philippine Deposit Insurance Corporation (PDIC); as well as the rules of Tonik and any subsequent amendments thereof, and any new rules to be promulgated governing your Account.

146. By using the Contact Center Hotline, you authorize Tonik to record, store, and share all telephone conversations between you (or your duly authorized representative) and the bank with any third party, pursuant to a lawful purpose.

147. To enable Tonik to provide and ensure proper assistance and facilitate the prompt resolution of any concerns or complaints raised through the Contact Center Hotline, you agree to provide complete, accurate and sufficient information as may be reasonably required, depending on the nature of your concern or complaint.

148. By agreeing to these Terms and Conditions, you agree that such access and/or use of Tonik Services are to be governed by and construed in accordance with the laws of the Philippines.

149. If any provision of these Terms and Conditions is found to be void, illegal, invalid, not enforceable, the other provisions of these terms and conditions will remain effective and binding.
     You agree that Tonik shall have the right to amend or supplement these Terms and Conditions at any time with prior notice to you through your preferred mode of notification channel, which you designated during onboarding. Should you have not specified a preference, Tonik reserves the right to notify you through a suitable method before the effective date of the revised Terms and Conditions. The notification will be issued at least sixty (60) days in advance of the changes taking effect. If you object or are not amenable to any such amendments, revisions, or modifications, you agree to terminate the use of your Account, Card, or Service with Tonik by sending us a written notice within thirty (30) calendar days from the date of such amendment, revision or modification. Failure to notify us within this period shall be construed as your acceptance of these changes to the Terms and Conditions. These Terms and Conditions are governed by the regulations of the Bangko Sentral ng Pilipinas and applicable laws of the Philippines. It shall be understood that access to and use of the Service shall be subject to applicable laws and regulations.

150. These Terms and Conditions are governed by the regulations of the BSP and the applicable laws of the Philippines. Your access to and use of the Service shall be subject to all relevant laws and regulations. You acknowledge and agree that Tonik’s failure to enforce any provision of these Terms and Conditions, or to exercise any right or remedy, shall not be interpreted as a waiver of that provision, right, or remedy. Any waiver shall be valid only if made in writing and signed by an authorized representative of Tonik. A waiver of any specific breach or default shall not be deemed a waiver of any subsequent or continuing breach or default. You also agree that Tonik’s rights and remedies under these Terms and Conditions are cumulative and may be exercised individually or together. The exercise of one right or remedy does not limit or prevent the exercise of any other rights or remedies available to Tonik.

151. The venue of all legal actions or proceedings arising out of or in connection with these Terms and Conditions shall be brought only in the proper courts of Pasig City, to the exclusion of all other courts and venues.

152. Tonik is regulated by the BSP (https://www.bsp.gov.ph.).