Term and Conditions

This Agreement governs your use of the Mobile Banking Services provided by Porac Bank ("PoracBank" or "the Bank"), located at the Corporate Office, Priser Building, Brgy. Sto. Rosario, Sto. Rosario St., Angeles City, Philippines.

In these Terms and Conditions:

1. "Account" refers to the savings and/or checking account, loan accounts, and time deposit held with Porac Bank in the depositor's name, whether solely or jointly with another person.
2. "Mobile Phone" refers to the client's/account holder’s cellular network phone unit with the client's subscriber identity module (SIM) card and corresponding 11-digit mobile number assigned to the SIM card.
3. "One-Time Password" or "OTP" refers to the six-digit code sent to the user's registered mobile number needed for two-factor authentication of the user.
4. "PoracBank Online," "PoracBank Mobile," or "PoracBank App" refers to Porac Bank's mobile app where Online Banking Services may be performed. Can also be referred to as "Facility."
5. "We," "Us," "Our," and "Bank" refer to Porac Bank.
6. 6. "You" and "Your"refer to the owner of the Account.
7. "Originating Financial Institution (OFI)" refers to the financial institution that initiates a fund transfer on behalf of the sender using a mobile banking app or other digital channels. The OFI is responsible for processing the transaction, debiting the sender's account, and ensuring the transfer request is transmitted securely to the Receiving Financial Institution (RFI). In case of disputes or unauthorized transactions, the OFI serves as the primary point of contact for the sender and coordinates with the RFI for resolution.
8. "Receiving Financial Institution (RFI)" refers to the financial institution that receives and processes incoming fund transfers on behalf of the intended recipient.

1. You may access your Account(s) by signing in to PoracBank Online using the PoracBank Online app.
2. Enrollment into PoracBank Online can be done through the PoracBank Mobile app or by visiting any Porac Bank branch.
3. Upon registration, you must provide accurate and complete information, including but not limited to your account number, loan account number, and contact details. You acknowledge that the email address and/or mobile phone number you provide will be used for all online banking communications, including password-related notifications. The Bank reserves the right to verify the information provided through PoracBank Online or customer service. Once verified, you will receive confirmation via SMS and/or email.
4. Your Online Banking Services will only be activated after the validation of your information and authentication of your identity through multi-factor authentication methods.
5. The Bank shall have no obligation to verify the authenticity of any transaction received from you or purporting to have been made by you via PoracBank Online other than by means of verification of your Security Credentials, which include your password, OTP, or biometric authentication (if enabled). While biometric authentication (such as fingerprint scanning or facial recognition) is optional, we strongly recommend enabling it as an additional security layer to protect against unauthorized access.
6. Your enrollment in the Facility remains in effect until you deactivate your device through the app or submit a written request for termination.
7. PoracBank Online is available 24/7, except during system maintenance or when the Bank notifies you of service unavailability.

1. You are responsible for keeping your Security Credentials (password, OTP, biometric authentication), account number(s), and other account data confidential. These should only be known to you and you should not, under any circumstance share your Security Credentials, Account number(s) and Account data with anyone else. From time to time, the Bank provides educational resources and regular updates on security best practices to help you safeguard your account information thru its various communication channels.You may access your Account(s) by signing in to PoracBank Online using the PoracBank Online app.
2. Transactions done through PoracBank Online require you to use your Security Credentials. When a transaction is made in PoracBank Online using your Security Credentials, these transactions are considered to have been validated, authorized and done by you. If you suspect that your Account and/or Security Credentials have been compromised, please contact the Bank immediately through any of our digital channels. Upon notification, the Bank will:
   • Acknowledge receipt of your report promptly.
   • Conduct a thorough investigation to determine the cause and extent of the issue.
   • Provide you with updates on the progress and findings of the investigation.
   • Implement corrective measures as necessary to prevent further unauthorized transactions.
   • Inform you of the resolution and any actions taken.
3. A transaction you make using PoracBank Online after keying in your Security Credentials are your instructions to the Bank to perform that specific transaction. If the Security Credentials are correct and authenticated, We assume that these are your lawful and valid instructions which We have the right to rely on. Once we have executed the transaction in accordance with your instructions and you discover an error, you need to inform us immediately, and We will exert reasonable efforts to recover the funds. We may charge a reasonable fee, reflective of our efforts to do so. If you suspect that your Account has been compromised or if you discover a transaction that you did not authorize but you fail to notify Us promptly, you will remain liable for transactions that We may have executed pursuant to instructions We received and believed in good faith to have emanated from you.
4. For your protection, the Bank shall have the right to automatically suspend or block an Account or a transaction should We have a reason to believe that the transaction or the Account may be illegal or used for fraudulent or suspicious business or by an unauthorized person. The Bank may, but shall not have the obligation to, inform you prior to suspending or blocking the transaction or Account pursuant to this clause. You acknowledge our authority to suspend or block the transaction and the Account and accordingly.
5. As a safety measure, you agree and undertake to change your password from time to time or as frequently as you deem necessary. If you believe that your mobile phone or password may have been lost/stolen or that someone has used it without your permission, you shall notify the Bank immediately and shall give the latter a reasonable period to de-activate your compromised password. The Bank is not responsible for any losses, damages or costs which you may incur resulting from the loss of your mobile phone or password, or the fraudulent transactions which may occur if your device is not deactivated resulting from your failure to notify the Bank that your mobile phone or password has been lost/stolen, or that someone has used it without your permission.
6. When setting a password, avoid easily guessed information such as your birth date, phone number, or other publicly available data. Ensure that unauthorized persons do not gain access to your mobile phone while using PoracBank Online.
7. The OTP is an additional security feature required for online transactions. You must enter the correct OTP for authentication. Failure to do so may prevent the completion of a transaction.|

1. Service Availability

   PoracBank Online and its services are offered on an “as is” and “as available” basis, without warranties of any kind, except those required by applicable law. The Bank does not guarantee:

   • The uninterrupted availability of the service.
   • The accuracy or quality of data received through PoracBank Online.
   • The timeliness of transactions, which may depend on external service providers.
   • Major service disruptions will be communicated via SMS, email, or in-app notifications.
2. Features and Mobile Banking Services

   The Bank reserves the right to add, change, or modify the available Mobile Banking Services. Some services may be subject to additional terms and conditions, which you agree to before performing transactions.

   Certain transactions may have corresponding fees, which are available on our website: https://www.poracbank.com/rates-and-fees.html. Changes to fees will be communicated via SMS, email, or in-app notifications.

   Available Services:
   • Balance Inquiry – View the balances of your enrolled PoracBank accounts.
   • Fund Transfer – Transfer funds between your own accounts, to third-party accoun7ts within PoracBank, or to other local banks (via InstaPay & PESONet) Transactions are subject to limits, cut-off periods, and service fees. The Bank is not responsible for delays or errors caused by external clearing houses or receiving banks. If you have concerns about a fund transfer or suspect an unauthorized transaction, you must report it to the Originating Financial Institution (OFI)—the bank or financial institution where the transfer was initiated.
   • Pay Bills – Pay bills to institutions with which Porac Bank has collection arrangements. Payments made on weekends/holidays will be processed on the next banking day. The Bank is not liable for late payments due to reasons beyond its control.
   • Buy Load – Purchase mobile load for DITO, Globe, TM, Smart, TNT, and Sun networks. Transactions depend on network provider availability.

1. If you transfer funds to a payee account other than the intended recipient, you must immediately report the error to the OFI with the following details:

   • Your name, contact number, and other credentials;
   • Account from which the payment was made;
   • Payee account details;
   • Transaction amount;
   • Transaction date and time.
2. If the OFI and RFI involved in an erroneous transaction are different BSIs, the OFI must immediately inform the RFI. Both the OFI and RFI should make reasonable efforts to recover the sum sent in error in accordance with existing regulations and industry conventions.

1. The Bank shall not be held liable for any loss or damage of any kind (including, but not limited to, charges and/or penalties imposed on you by third parties) arising from transactions conducted through the Bank in the following instances:

   1. PoracBank Online, including but not limited to:
      1. Disruptions, failures, or delays in processing transactions due to circumstances beyond the Bank’s control, such as fortuitous events, including but not limited to power outages, computer and communication system failures, typhoons, floods, civil disturbances, government restrictions, calamities, and other similar or related events.
      2. Any loss or damage suffered by you due to unauthorized or fraudulent access to the Bank’s Online Banking platform, resulting from theft or unauthorized disclosure of passwords, or OTPs through social engineering tactics (such as phishing, vishing, or smishing), shoulder surfing, or the you negligence in adhering to security measures.
      3. Errors, delays, or incomplete information received by you due to failures or disruptions in communication facilities used for the Mobile Banking services.
      4. Any action taken by the Bank based on instructions authenticated through your Password, or One-Time Password (OTP).
      5. Any other circumstances or reasons that prevent the Bank from executing the transaction.
   2. Account from which the payment was made;
   3. Payee account details;
   4. Transaction amount;
   5. Transaction date and time.
2. You shall bear full responsibility for any losses resulting from unauthorized or erroneous transactions, except in cases where such losses are directly and solely caused by the Bank’s fraudulent actions or gross negligence. You agree to hold the Bank, including its shareholders, directors, officers, employees, and representatives, free and harmless from any liability, claims, damages, or legal actions arising from the use of the Mobile Banking services. This includes, but is not limited to, any errors inadvertently committed by you, as well as any computer-related errors on your end that prevents the Bank from executing instructions received through Online Banking.

1. The Bank reserves the right to amend the terms of the contract, provided that reasonable notice is given to you in accordance with regulatory requirements.
2. In cases where amendments significantly impact you, the Bank will provide appropriate options, including the possibility of contract termination where applicable.
3. The Bank may communicate with you through SMS, email, social media, instant messaging applications, in-app notifications or any other means of communication, for notices concerning changes in the terms and conditions.