Important Advisory: Revised Omnibus General Terms and Conditions 2026

Dear Valued Clients,

As part of our continuous efforts to protect your assets with RCBC, we have further enhanced our general Terms and Conditions as aligned with regulatory requirements on Financial Consumer Protection Act. The revised Terms and Conditions (hereto referred as “General Terms and Conditions”) will take effect on June 24, 2026.

The amended provisions are provided as follows:

1. On Temporary Restrictions on Accounts (Section 10, Part I. General Provisions):

Specifies additional grounds for RCBC to temporarily restrict account access and related actions. The additional grounds are potentially fraudulent activity or unauthorized transactions, legal proceedings against a client, abusive conduct, and material change in the client’s status.

Adds a clause that if RCBC reasonably believes a client is involved in a Disputed Transaction under the Anti-Financial Account Scamming Act (AFASA), RCBC will temporarily hold the funds in the client's Account that are subject to the transaction for a period not exceeding thirty (30)days, unless a court order or the AFASA Implementing Rules and Regulations extends this period. The client must cooperate with RCBC'sinvestigation by providing all requested information and documents. However, RCBC will not disclose to the client the identification or transaction details of the person claimed to have committed fraudulent acts against them, except when required by applicable laws, regulations, or a competent government authority.

2. On Uncleared Bills (Part I. General Provisions, Section 14):

Adds a minor change in subsection viii to state that presentment of bills for payment, acceptance, notice of dishonor, and/or protest is/are waived to the fullest extent allowed by applicable laws and regulations.

3. On Interest (Part I. General Provisions, Section 15):

Adds the conditions under which interest rates may change which are prevailing market conditions, legal/regulatory requirements, or funding costs, with such changes binding the client upon notice. If a client disagrees with a revised interest rate, they have 30 days to close the account without penalty.

4. On Incapacitated/Deceased Client (Part I. General Provisions, Section 21):

Allows RCBC to release funds for incapacitated clients' medical expenses directly to institutions and clarifies procedures for deceased clients' accounts, including joint "OR" accounts.

5. On Payroll and Disbursement Accounts (Part I. General Provisions, Section 22):

Adds a subsection for disbursement accounts.

6. On Authority to Disclose (Part I. General Provisions, Section 24):

Expands the purposes for which RCBC can obtain, use, process, store, and disclose client information to various third parties, including for processing incapacitated clients' funds, releasing funds for deceased co-depositors, the AFASA, and performing automated decision-making and profiling activities in relation to the existing purposes.

7. On Request for Copies of Documents (Part I. General Provisions, Section 29):

Adds a clause that the client agrees that he/she shall not compel RCBC to produce any document or its copy and that he/she shall not hold RCBC liable for any damages or costs for not producing any requested document or copy thereof. Furthermore, the client also agrees that RCBC’s records on accounts and transactions shall be final and conclusive as against him/her.

8. On Security for Obligations (Part I. General Provisions, Section 30):

Adds a clause that if there is a conflict between the general agreement and a specific contract covering RCBC's claim on the deposit (as security or payment source), the terms of the specific contract will prevail. If no such contract exists, RCBC’s right to debit or set-off funds will be governed by Articles 1278 to 1290 of the Civil Code on legal compensation, which will take precedence over all other terms of the general agreement regarding the manner and effect of set-off. Additionally, both parties recognize that RCBC’s right to debit and/or set-off is covered by the exception in Article 1169(1) of the Civil Code.

9. On Erroneously Credited Amounts (Part I. General Provisions, Section 32):

States that erroneously credited amounts will be handled as a claim or dispute and can be debited from the client’s account.

10. On Amendment (Part I. General Provisions, Section 37):

States that RCBC can amend or supplement Account terms (e.g., minimum balance, fees) with notice. If there's a conflict between the general terms and specific account terms, the latter takes precedence. If a client disagrees with changes, they must close the account without penalty within 30 days of notice.

11. On PDIC Provisions (Part I. General Provisions, Section 41):

Updates the maximum deposit insurance coverage up to Php1,000,000.00 per depositor.

12. On Terms and Conditions on Electronic Banking Channels (Part II. General Provisions, Section 15):

A new section asserting RCBC's exclusive intellectual property rights over content in E-Banking Channels.

13. On Terms and Conditions Applicable to Personal Loans (Part V. Section 3.v.):

The interest rate could be adjusted proportionally upwards or downwards due to changes in the prevailing cost of money as reflected in any law, circular, rule, or regulation from the Monetary Board that increased or decreased the cost of funds to the Creditor.

14. On Terms and Conditions Applicable to Credit Cards - Lost or Inactive Card and Default / Lost and Stolen Card (Part VI. Section 6 and Subsection 6.1):

Amends procedures for reporting lost or stolen cards, client liability, and handling disputed charges during investigation.

15. On Terms and Conditions Applicable to Credit Cards – Replacement or Renewal Card (Part VI. Subsection 6.3):

A new subsection covering consent for updating new card numbers and expiration dates to card schemes and the continuation of certain recurring transactions pending activation of replacement/renewal cards.

We encourage you to review the updated General Terms and Conditions published in the RCBC website. Copy of the aforementioned summary of inclusions/revisions in the General T&Cs is readily accessible via link: RCBC General T&Cs Summary of Changes.

By maintaining your account and continuing to avail of our services, you are deemed to have affirmed your consent to RCBC’s latest General Terms and Conditions for the account/s opened with us.

Should you have any questions, please contact your Branch of Account.

Thank you for your continued trust and support and for making us your banking partner of choice.