Say yes to
instant cash

Get up to ₱18,000 in seconds

with Maya Credit

Why you’ll love Maya Credit

Borrow up to ₱30,000

No documents needed

Pay up to 30 days

Apply in 3 easy steps

We know how much of a hassle getting credit from banks can be—which is why we made sure applying for Maya Credit is quick, easy, and totally worth it

Requires:
👌 You are 21 to 65 years old
🇵🇭 You are a Filipino resident
💯 You have an upgraded Maya account

Phone 1

1Go to Credit tab and tap Apply now

Phone 2

2Set up your credit and confirm all the details

Phone 3

3You’re done! You can now use your Maya Credit to pay bills, buy load, shop, and dine

*Maya Credit approval and offer are subject to credit evaluation

Say yes to easy
credit computation

How much do you need?

₱ 0 ₱ 30,000

Maya Credit Service Fee and Credit Limit are subject to evaluation and may vary per user. Computation assumes a service fee of 3.99%

Monthly billing end date is set by user upon Maya Credit account application.

How much will I pay on my next due date up to 30 days after I use my credit?

Total credit limit used
during billing period

₱10,000.00

Maya Credit service fee

₱399.00

Documentary stamp tax
0.75% x 30/365 of used limit

₱6.16

Total amount due

₱10,405.16

Maya Credit Service Fee and Credit Limit are subject to evaluation and may vary per user. Computation assumes a service fee of 3.99%

Monthly billing end date is set by user upon Maya Credit account application.

Use your Maya Credit like a pro

  • Scan to Pay

  • Checkout Online

  • Buy on Shop

  • Transfer to Wallet

  • Pay bills COMING SOON

Phone 1

1Once your Maya Credit is activated, tap Transfer to Wallet to use it

Note: You will be charged a service fee as low as 3.99% on your used limit + DST on your due date
Phone 2

2Enter the amount you want to transfer and tap Continue

Phone 3

3 Confirm your transfer amount

Phone 4

4 Wait for your wallet balance to update then tap Continue

Phone 5

5 Your available credit is now displayed on your Credit dashboard

Tip: Pay your Maya Credit bill early to refresh your credit limit
Phone 2

1Upon online store checkout, choose Maya as your payment option under the QR and e-Wallets section

Phone 2

2Login to pay with your Maya number

Phone 3

3 Enter your Maya log in details and tap Log in

Phone 4

4 Enter the OTP sent to your mobile number

Phone 5

5 Select Maya Credit as a payment option upon checkout

Note: Make sure you have already activated your Maya Credit in the app and have available credit limit
Phone 6

6 Tap Pay now to confirm payment

Phone 7

7 Once your payment is confirmed, you can view your receipt

Phone 2

1 On Maya Shop, select the Shop item you want to purchase and tap Continue.

Phone 2

2Pay using your Maya Credit upon checkout. Note: Make sure you have already activated your Maya Credit and have available credit limit.

Phone 3

3 Tap Pay now to confirm payment.

Phone 4

4 Once payment is confirmed, you’ll be able to see details of your transaction.

Phone 5

5 You can save your receipt once your transaction is processed.

Phone 2

1 Scan to pay in your favorite store.

Tip: You can pay through a static QR display, via Maya terminal or any QR PH accepting store

Phone 2

2Enter the amount of the item you’re buying.

Note: You don’t need to input purchase amount when paying via Maya terminal.

Phone 3

3 Select Maya Credit as payment option and tap Continue.

Note: Make sure you have already activated your Maya Credit in the app and have available credit limit.

Phone 4

4 Tap Pay now to confirm payment.

Phone 5

5 Once payment is confirmed, you’ll be able to see details of your transaction.

Phone 6

6 You can save your receipt once your transaction is processed.

Pay your Maya Credit bill
in just a few taps

Phone 1

1Tap Pay now on your Credit dashboard

Phone 2

2Review the amount due and account details then tap Continue

Phone 3

3Once you receive a payment confirmation via SMS, you’ll be able to view your receipt in the app

Remember: Always pay your Maya Credit bill on time to avoid penalties. You have 15 days after the billing end date you’ve selected to settle your balance.

Partner Merchants

Shop at your favorite merchants with Maya Credit

Want to offer Maya Credit in your store?

Get in touch with us to get started

Let's talk
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FAQ

Frequently Asked Questions

You’ve got questions, we’ve got answers

Need more answers?

Go to the Credit dashboard in your Maya App and tap 'Sign up for Maya Credit.' If you're eligible for Maya Credit, you will see an 'Activate Now' button. To become eligible for Maya Credit, complete your account and continue using Maya's other services actively.

Maya Credit is still on early access at the moment. You may be eligible for Maya Credit if you’ve met the following qualifications:

  • You are at least 21 years of age and not over 65 years old.
  • You have an upgraded account.
  • You’ve been actively using your account.
  • You have a good credit standing.

If you qualify for early access, we will notify you once you are already eligible to activate your Maya Credit.

The minimum credit limit is PhP500 and the maximum is PhP15,000.

Maya Credit is still on early access to select users. Your eligibility for Maya Credit and your resulting credit limit are based on how frequently you use Maya’s services. The more consistently and actively you’ve used our services prior to applying, the higher your potential credit limit.

Depending on your eligibility, you may be charged with a service fee of as low as 3.99%.

Here's how you can compute your charges when loaning from Maya Credit:

Sample Total Amount (Credit used) - PhP 1,000.00
Add: Service Fee Charged (5% of used limit*) - PhP 50.00
Add: Documentary Stamp Tax (0.75% x 30/365 of used limit) - PhP 0.62
Penalties incurred - assuming 5 days late: (0.17% x overdue principal balance x # of days late) - P 8.50

Total Amount Due: PhP 1059.12

*This is a sample computation using 5% service fee.

It’s everything and
a bank. What more
could you need?

For existing PayMaya users, update your app to Maya
Group-1

Maya Credit
Terms and Conditions

1.General Terms and Conditions

1.1 These terms and conditions (“T&C” or “Terms”) govern the terms under which you will avail of Maya Credit. By activating and applying for Maya Credit, you agree to be bound by these Terms. The General Terms and Conditions (GT&Cs) of Maya Bank accessible through this link: https://mayabank.ph/terms-conditions/ are deemed incorporated into these T&C. In case of conflict or inconsistency between the GT&Cs and these T&C, the terms of these  T&C shall prevail.

1.2 Under these T&C, the terms “Maya Bank”, “we”, “us”, and “our” refer to Maya Bank, Inc. with its employees, directors, affiliates, successors, service providers, agents, and assigns. Maya Bank is duly authorized to engage in the business of providing loan products.

1.3 The terms “you” and “your” refers to the applicant/user of Maya Credit.

1.4 These T&C shall be effective, valid, and binding from the time that you signify your agreement to these Terms or you have availed any of Maya Bank’s products or services, including Maya Credit, and will be in full force and effect up to the time that it is terminated by you or us, save for some provisions which shall remain effective after termination, as stated in these T&C, under any law, rule, or regulation.

2.Definition of Terms

2.1 Affiliates – refer to any person or entity controlled by or under common control with another person. For purposes of the Terms, any of the entities under the MVP Group of Companies, including but not limited to Maya Philippines, Inc., PLDT, Inc., Metro Pacific Investments Corporation, Smart Communications, Inc., The Manila Electric Company, Maynilad Water Services, Inc., Metro Pacific Tollways Corporation, and MediaQuest Holdings, Inc. shall be considered as Affiliates of Maya Bank.

2.2 Billing Statement – refers to the electronically generated notification at the end of each Coverage Period, which is sent by Maya Bank through your registered e-mail address and accessible on the Maya App. This statement informs you about the Total Amount Due for your Maya Credit and the Due Date thereof.

2.3 Coverage Period – refers to the specific period of time in which all transactions posted within the start and end dates covered in your latest Billing Statement. These transactions will form part of the Total Amount Due that must be settled on or before the Due Date specified on the Billing Statement and/or in your Maya App.

2.4 Customer – refers to the person / party who has opened a Maya Credit account from Maya Bank and/or has availed of or used Maya Credit.

2.5 Credit Limit – refers to the maximum amount you may borrow from Maya Bank, the proceeds of which you may use to purchase goods and/or services or transfer to Maya Wallet using Maya Credit.

2.6 Disclosure Statement (DS) – refers to the disclosure statement required under the Truth in Lending Act (Republic Act No. 3765) and other relevant laws and regulations. This contains details of your account at the time of account opening such as, but not limited to, your credit limit, service fee, effective interest rate, and other applicable charges.

2.7 Due Date – refers to the last date for payment of the Total Amount Due. After your Due Date, your Maya Credit becomes delinquent and may be subject to applicable penalty fees if the Total Amount Due is and remains unpaid.

2.8 Effective Date – refers to the date when your application for Maya Credit was approved by Maya Bank and the date when you accepted these Terms, as stated in the Disclosure Statement.

2.9 Maya App – refers to the mobile application that serves as the interface between you and Maya Bank, which terms of use shall be in accordance with the Terms and Conditions and User’s Guide found in the said Maya App or Maya Bank Website.

2.10 Maya Credit – refers to the line of credit offered by Maya Bank, which a customer can use to transfer funds to Maya Wallet or purchase goods and/or services directly from a Merchant, payable on the Due Date every month.

2.11 Maya Wallet – refers to your e-Wallet in the consumer app of Maya Philippines, Inc., which will be the destination account when you transfer the Principal Amount drawn from your Maya Credit

2.12 MCCL – refers to Maya Credit Closed Loop where goods and/or services can be purchased directly from a merchant by the Customer, payable in the future using Maya Credit.

2.13 Merchant – refers to the business establishment accredited by Maya Bank to provide goods and/or services that may be purchased by the Customer using Maya Credit. It shall also refer to the Merchant’s stockholders, officers, managers, employees, and agents.

2.14 Nominated Maya Account – refers to either your e-Wallet in the consumer app of Maya Philippines, Inc. (“Maya Wallet”) or your Maya Savings account, which may be selected as the source of fund for auto-deduction of the Total Amount Due.

2.15 Partner Channel – refers to the employer, enterprise, or business, in partnership agreement with Maya Bank, authorized to collect application inquiries and requests related to Maya Credit from their customers or employees who have provided consent to share their personal information with Maya Bank.

2.16 Payment – refers to the regular payments done by you to Maya Bank to pay off partly or wholly the Total Amount Due on or before the Due Date

2.17 Principal Amount – refers to the face value of the amount transferred to Maya Wallet or the cost of goods and/or services purchased directly from a Merchant using Maya Credit.

2.18 Service Fee – refers to the fee charged upon using Maya Credit to transfer funds to Maya Wallet or to purchase goods and/or services.

2.19 Total Amount Due – refers to the total amount you owe Maya Bank that shall constitute your Principal Amount and applicable fees and charges.

2.20 Transfer Cap – refers to the maximum amount which you may avail for transfer to Maya Wallet.

2.21 Transfer Fee – refers to the additional fee charged on top of the Service Fee for every amount that you transfer to Maya Wallet.

2.22 Unposted Transaction/s – refers to all transactions done after the Coverage Period indicated on your latest Billing Statement. This consists of the Principal Amount transferred to Maya Wallet and/or used to purchase goods and/or services from a Merchant, including all applicable fees and charges that are not yet part of your latest Billing Statement but are already visible in your Maya App.

3.Activation and Availment of Maya Credit

3.1 At your own discretion, you applied for Maya Credit through the Maya App. You warrant that all the information you provided in your Maya Credit account are valid, true, and correct. You also agree that any information or documents provided in support of the application shall remain property of Maya Bank.

3.2 You authorize Maya Bank to make, directly or through third parties, any inquiries necessary to verify your identity and to assess your capability to make payments in accordance with Maya Credit policies.  You further agree and authorize Maya Bank to share such information with any company or business entity that is our Affiliate, subsidiary, holding company, or a subsidiary of our holding companies or Affiliates or any other third party as may be relevant or necessary to carry out the above assessment by Maya Bank.

3.3 You agree to periodically provide your updated duly stamped received Income Tax Returns, if applicable, to Maya Bank, along with any supporting financial documents that Maya Bank may require, from time to time. You agree to waive your confidentiality on the aforementioned documents and authorize Maya Bank or its authorized representative, to verify, at any time, the authenticity of the submitted documents with the Bureau of Internal Revenue and your employer, if any.

3.4 You agree that Maya Bank will validate such submission with available information on the applicant’s accounts, credit information, and credit status from applicable entities, banks and financial institutions, credit bureaus, and other applicable institutions.

3.5 You authorize the holder, controller, and processor of the information from the foregoing sources to confirm, release, and verify the existence, truthfulness, and/or accuracy of such information to Maya Bank.

3.6 You agree that the information in your Maya account may be used by Maya Bank to pre-fill any future applications for other products and services offered by Maya Philippines, Inc. and Maya Bank in the Maya App.

3.7 You warrant that incomplete and/or inaccurate information declared in your Maya Credit application is sufficient ground for legal action, rejection of your application, or closure of your account. If Maya Bank discovers that you have misdeclared any information or have made any misrepresentation, which is material in the approval of your application, Maya Bank has the right to terminate your Maya Credit account and demand immediate payment of any outstanding amount in accordance with the law.

3.8 You agree to promptly notify Maya Bank in the event that there has been a material change in any of the information or documents previously provided to us. You may notify the Bank of such changes through the Maya Bank Support web page (www.mayabank.ph) or through the contact details in the Customer Service section of these Terms and Conditions.

3.9 You acknowledge that Maya Bank reserves the right to approve or reject your Maya Credit application and has no obligation to disclose reasons for the rejection or disapproval of such application. Maya Bank has the sole discretion to approve only a portion of the amount availed of.

3.10 You understand that your approved Credit Limit, Service Fee, and interest rate, if any, will depend on your credit standing and is subject to Maya Bank’s credit underwriting policy.

3.11.  For users who register interest for Maya Credit through any Partner Channel, you agree to:

  1. Indemnify and hold Maya Bank free and harmless against any and all claims arising from your relationship with the Partner Channel in which you register your interest in Maya Credit.
  2. Promptly perform all other obligations under these Terms including the payment of the Total Amount Due, notwithstanding any relationship you have with the Partner Channel in which you register your Maya Credit interest; and
  3. Allow Maya Bank to notify the Partner Channel in occurrence of your account delinquency.

3.12 You understand that the Merchant is fully responsible for its services or goods in the event of an MCCL transaction. The sale and purchase of the Merchant’s goods and/or services between the Merchant and the Customer through MCCL shall be a contract between the respective Customer and Merchant. You understand that Maya Bank does not:

  1. have any part in the performance of the Merchant’s obligations, such as the obligation to provide the goods and/or services or to ship and deliver the same, in the MCCL transaction;
  2. in any way, own, create, engineer, manufacture, sell, resell, provide, control, manage, offer, deliver, transfer or supply any of the Merchant’s goods and/or services;
  3. provide insurance of any kind in connection with the Merchant’s goods and/or services; or
  4. make any representations and warranties of any kind in connection with the Merchant’s goods and/or services, express or implied, including any warranties that the Merchant’s goods and/or services are accurate, complete, reliable current, suitable, fit for purpose or error-free. The loss, damage, or any defects in the goods and/or services supplied by the Merchant pursuant to the MCCL transaction will not release you from any of the obligations imposed pursuant to the MCCL transaction, such as those imposed under these T&C.

In view of the above, you agree to:

  1. hold Maya Bank free and harmless against any and all claims arising from the use of the goods and/or services, or any and all refund claims or claims related to the quality, warranty, maintenance, and/or after sales services of the goods and/or services subject of the Maya Credit transaction, with the understanding that Maya Bank has no responsibility in respect of any of these matters;
  2. hold Maya Bank free and harmless against any and all claims relating to the delivery of the goods and/or performance of the services or arising from any failure, negligence, or delay in respect of the delivery of the goods and/or performance of the services, with the understanding that aforementioned delivery or performance is the sole and exclusive responsibility of the Merchant;
  3. not assign, transfer, sell, or in any way dispose of the goods subject of the Maya Credit transaction before full payment of all the Installments; and
  4. promptly perform all other obligations under these Terms including the payment of the Total Amount Due, notwithstanding any damage to or loss of the goods, or any defects or non-performance of the services provided by the Merchant, any dispute between the Customer and the Merchant, or the existence of any of the claims described in this section, including any claims for refunds. The Merchant’s policies and procedures are binding in the occurrence of any such event.

4.Usage of Maya Credit

4.1 Maya Credit may be used to transfer funds to your Maya Wallet or to purchase goods and/or services directly from the Merchant via MCCL.

4.2. For MCCL, the Principal Amount will be credited to the Merchant for the purchase of the relevant goods and/or services.

4.3. You may use Maya Credit only for personal and legitimate transactions and not for restricted transactions, such as but not limited to illegal gambling or games of chance and transactions whose cause, object or purpose is contrary to law, public order, or public policy. If we determine that Maya Credit has been or is being used for restricted transactions or non-personal transactions, we may take any legal action in connection with your Maya Credit and/or the transaction made using Maya Credit, including the suspension or cancellation of your account.

5.Interest, Fees, and other Charges

5.1 You agree to applicable interest, fees, and other charges stated in the Disclosure Statement upon usage of Maya Credit, as evidenced by transaction records of the Bank indicating successful disbursement of funds from Maya Credit to your Maya Wallet or by acknowledgement receipts and other records of payment to a Merchant. Such applicable interest, fees, and other charges may change over time, subject to existing laws and regulations. In the event that you choose to pay before the Due Date of your account or before your transactions are reflected in your Billing Statement, you understand that you are still liable to pay in full all fees charged due to the usage of Maya Credit, such as but not limited to the Service Fee, Transfer Fee, and documentary stamp tax.

5.2 You acknowledge the integrity of Billing Statements as an electronic document pursuant to the provisions of the Electronic Commerce Act and agree to pay the Total Amount Due on or before the Due Date stated without need for presentation of signed documents. If you have clarifications on the Billing Statements, please report your concerns through Maya Bank Hotline found in Maya App and at mayabank.ph. Your right to question any item in the Billing Statement shall be deemed waived if no such report has been made within ten (10) calendar days from receipt thereof.

5.3 The Total Amount Due as reflected in the Billing Statement should be paid on or before the Due Date. If on the Due Date your Total Amount Due is still unpaid, including all charges, fees, penalties and interest accrued and unpaid thereon, the Total Amount Due shall be immediately due and demandable, without need of presentment, demand, protest or further notice of any kind, all of which are herein expressly and specifically waived by you. In this case, you are authorizing Maya Bank or Maya Philippines, Inc. to debit complete or partial payments for your Total Amount Due, as requested by Maya Bank, from your Nominated Maya Account, or any of the accounts (e.g. Maya Personal Goals, etc.) you presently maintain or later create with Maya Bank and/or Maya Philippines, Inc. until your Total Amount Due and other fees and charges incurred in your account have been fully settled and without need of notice or demand. You acknowledge that Maya Bank will not be liable for any losses, damages, expenses, costs, or charges whatsoever which may be claimed against Maya Bank arising from such debiting.

5.4 In case of failure to pay the Total Amount Due on or before the due date, you acknowledge that your Maya Credit will be considered past due and you shall be liable to pay a late penalty fee on the overdue Principal Amount per day, in addition to the fees and charges, as indicated in the Disclosure Statement. The late penalty fee will be calculated from the day immediately following the Due Date until full and final settlement of the overdue balance. The table of fees may change over time, subject to existing laws and regulations.

5.5 You waive any rights under Article 1252 of the Civil Code of the Philippines and agree that any payment made by you to Maya Bank for the purpose of repayment of the Total Amount Due shall be applied in the following order: (i) penalties, (ii) fees, (iii) interest, (iv) principal and thereafter against any other obligations to Maya Bank, if any.

5.6 In the event Maya Bank shall be required to pay any taxes or other fees on or with regard to the execution, formalization or perfection of any documentation contemplated hereunder or delivered pursuant hereto, you shall, upon notice, reimburse Maya Bank for such taxes or fees paid.

6.Representations and Warranties

6.1 You represent and warrant that: (i) you are of legal age, of sound mind, able to contract in any kind of contract, and possess no legal disability to apply for Maya Credit and accept these Terms, as well as not have any criminal record of any kind; (ii) your loans and obligations with other banks, lending, financing or credit card companies and the like are updated and not delinquent as of Effective Date; (iii) all documents you submitted are current, authentic, and may be relied upon by Maya Bank as of Effective Date; (iv) All oral representations and communications you made to Maya Bank remain true, correct and accurate as of Effective Date; and (v) you entered into the Agreement willingly and without influence or duress from any party.

6.2 You agree that it is your responsibility to securely keep your PIN and/or Password. The use of your User ID, PIN and/or Password including one-time passwords (OTPs) will serve as your irrevocable authorization for us to carry out transactions that you initiated. Any fraudulent or negligent activity by your agents, employees, officers, and authorized representatives using your User ID, your PIN, Password and/or OTP, such as but not limited to unauthorized withdrawals or transfers, that may bring about financial losses to you is your sole responsibility.

6.3 These Terms and other documents and instruments mentioned and related hereto, when executed, shall be valid and binding upon you and enforceable in accordance with the respective terms and conditions hereof.

7.Covenants

7.1 You shall: (i) punctually pay the Total Amount Due on the Due Date and perform all other obligations, undertakings and covenants hereunder and shall not allow your account to be in default in any way; (ii) submit documents and provide information which may be required by the government regulators or Maya Bank at any time; (iii) notify Maya Bank for every change of data by updating your account in Maya App immediately after such change; and (iv) execute and deliver such other instruments and documents as may be requested by Maya Bank to give full force and effect to these Terms and other documents and instruments executed in connection therewith or to comply with Maya Bank’s internal policies.

7.2 In opening and maintaining a credit account and/or availing any of the Bank products and services covered under these Terms, you agree to waive, without need of notice, in favor of Maya Bank, including any of its Affiliates, service providers, shareholders, associates, subsidiaries, officers, employees, agents, lawyers, partners, and other consultants, your rights under Section 55.1 (b) of Republic Act No. 8791 (The General Banking Law of 2000), under Republic Act No. 1405, or any other right pertaining to secrecy of bank deposits for any of the following purposes:

  1. Updating your Maya Bank account upon your request;
  2. Validating your identity before providing our services, or responding to any of your queries, applications, feedback, and complaints;
  3. Managing our day-to-day business operations;
  4. Keeping your information updated through our official data touchpoints;
  5. Providing customer service and support;
  6. Performing credit checks or due diligence checks to minimize risks or frauds;
  7. Safeguarding your account and protect you against fraud and other criminal activity;
  8. Settling claims or disputes involving any of our products and services;
  9. Complying with all applicable laws and regulations as well as performing our obligations from any legal authorities;
  10. Marketing and Credit scoring;
  11. Updating you on changes to our products or services; or
  12. For any other lawful purpose that Maya Bank may deem fit or necessary.

8.Disclosure of Information and Data Privacy

8.1 You allow Maya Bank to use any of the information you provided to Maya Bank and/or gathered by Maya Bank in the course of your application or at any time after your account has been activated.

8.2 You agree and allow Maya Bank to use, share, obtain, or update your information provided to Maya Bank and/or gathered by Maya Bank with the credit bureau or other external parties, as well as any relevant government agencies, for underwriting and credit scoring, pre-due reminder, collection, and other legitimate purposes.

8.3 You allow Maya Bank to disclose your information to collection agencies, counsels, Affiliates, or other agents or partners of Maya Bank in the event that Maya Bank is constrained to enforce its rights against you.

8.4 You authorize Maya Bank, Affiliates, third-party service providers, and its official partners to collect, hold, use, and process the personal information that you have provided directly or indirectly in our data collection touchpoints relevant to the respective purposes furnished to you in our privacy notices. With your active use of our products and services, you agree to the Data Privacy Statement of Maya Bank found in http://www.mayabank.ph/privacy

8.5  If you applied for Maya Credit through a Partner Channel, you agree to allow Maya Bank to provide details of your Maya Credit Due Dates and Total Amount Due to the Partner Channel at any time.

9.Collection

9.1 Subject to and not in derogation of its rights under these Terms, Maya Bank shall have the right, at its sole discretion, and when it deems necessary to appoint and authorize agent/s of its choice to perform reminder calls or send messages via SMS, email, messaging apps, and social media accounts, among others, for pre-due loans, or collect all and any sums due to Maya Bank from you. Maya Bank may appoint and authorize these agents, which may include but are not limited to a call center agency, business process outsourcing company, or collection agency, to carry out such pre-due reminder calls or collection calls. The authorization of any of these agents shall be subject to a written notification by Maya Bank to you at least seven (7) days prior to the actual endorsement, in compliance with the requirements of applicable laws, rules, and regulations.

9.2 If Maya Bank hires the services of an attorney and/or collection agencies, to collect the obligations in this Agreement and incur expenses arising from the same, Maya Bank shall be entitled to recover from you, any and all attorney’s fees and agency fee, in the amount incurred in connection with the collection of the Total Amount Due.

10.Events of Default

10.1 Each of the following events constitutes an Event of Default, irrespective of the reason for its occurrence and whether it is voluntary or involuntary or occurs as a result of any court order, law or regulation:

  • Failure to fully pay the Total Amount Due for consecutive months, including any of the late penalty fee on the Principal Amount and/or other charges and fees when any of such falls due;
  • Failure to properly perform any of the obligations arising from these Terms and other documents and instruments mentioned and related hereto, or violation of any covenant or provision in these Terms and other documents and instruments mentioned and related hereto;
  • Submission to Maya Bank of any false or inaccurate information, representation or warranty, or document, as well as the commission of any fraudulent activity;
  • Failure to update material information in your account;
  • Commission or threaten to commit a default or breach of any covenants, stipulations, terms or conditions contained in these Terms or the documents pertaining to Maya Credit;
  • Use of Maya Credit for non-personal transactions and/or restricted transactions, such as but not limited to illegal gambling or games of chance and transactions whose cause, object or purpose is contrary to law, public order, or public policy;
  • Failure to furnish any information or documents required by Maya Bank;
  • Death or incapacity to fulfill your obligations;
  • These Terms cease to be legal, valid or binding obligation because of change in law or regulations;
  • Security breach of Maya Bank’s or the Affiliates’ systems, processes, or applications; or
  • Any other circumstance occurs which gives reasonable grounds for Maya Bank to believe that you may not be able to perform your obligations under these Terms.

11.Consequences of Default

11.1 If an Event of Default occurs, then at any time thereafter, Maya Bank may, at its sole discretion, without the need of notice or demand:

  • Impose a collection of interest, penalties or a one-time penalty as stated in the DS. The applicable penalties, fees and charges shall be cumulative and be added to the Total Amount Due on the Due Date.
  • Declare the unpaid Total Amount Due and all obligations, including any Unposted Transaction and all fees, penalties, and interest accrued and unpaid thereon, if any, to be immediately due and payable, without need of demand or further notice of any kind, all of which are herein expressly and specifically waived by Maya Bank. At its option, take such action and exercise such remedies in order to protect and enforce its rights under the Agreement. The account in default will incur Late Penalty Fee on the overdue principal amount starting from the day immediately following the Due Date until full and final settlement of the overdue balance.
  • Perform collection activities, including but are not limited to, locating you or conducting visits to your home and/or office address. Maya Bank, at its option, may also endorse collection of the Total Amount Due, including all fees, penalties, and interest accrued and unpaid thereon (if any), to a collection agency as may be provided under these Terms.
  • Without need of notice, authorize Maya Bank and/or Maya Philippines, Inc. to offset your obligations, including but not limited to the Total Amount Due, applicable taxes, fees, and other charges, as requested by Maya Bank, from your Nominated Maya Account, or any of the accounts (e.g. Maya Personal Goals, etc.) you presently maintain with or later create with Maya Bank and/or Maya Philippines, Inc., until your Total Amount Due and other fees and charges incurred in your account have been fully settled and without need of notice or demand.
  • Recall and demand repayment of all sums you owe to Maya Bank in respect of other facilities granted by Maya Bank.
  • Upon payment default, contact you using the contact details, social media account name, and other methods you provided to Maya Bank, such as, but not limited to, SMS, email, messaging apps, social media accounts, among others.
  • Engage in reasonable means of skip tracing in the case that you are uncontactable via the details or means of contact, and this includes reaching out to nominated contact references, field visits, etc.
  • Report your default to the credit bureau, which may affect your rating, and/or take legal action against you.
  • Have the right to exercise, alternatively, successively, concurrently, and cumulatively, any and all other rights and remedies now or hereafter available to it under this Agreement and the applicable laws.

11.2  In case of default in your Maya Credit, Maya Personal Loan, Maya PayLater, and other credit facilities within Maya Bank or in case of any form of breach of these Terms or applicable laws, Maya Bank may terminate, suspend, or revoke your right to use your Maya Personal Loan, Maya Credit, Maya PayLater, and other credit facilities within Maya Bank,  provided always that you shall remain responsible or accountable for any omission, or actions taken through the use of your Maya Credit account before such termination or suspension. Maya Bank reserves the right to reactivate or restore your account/s at its sole discretion upon your compliance with its requests or upon considering copies of the relevant records or documents provided by you, and at its discretion, Maya Bank may limit, restrict, suspend or terminate your access to its system, application or platform, whether temporarily or permanently.

12.Non-waiver of rights

12.1 Acceptance by Maya Bank of any payment after its Due Date or after an Event of Default has occurred or after legal proceedings have been commenced against you shall not constitute an extension of time for payment or a modification or novation of the terms of this Agreement or in any way prejudice or adversely affect Maya Bank’s cause of action against you.

12.2 Failure, omission, or delay on the part of Maya Bank to exercise its right or remedies under these Terms and Conditions shall not operate as a waiver. Any such waiver shall be valid only when reduced in writing and delivered to you.

13.General Provisions

13.1 Maya Bank has the sole right to modify, change, increase, or decrease your Credit Limit, Service Fee, and interest rate, if any. Maya Bank also has the right to offer you different product features/services and/or promos.  Maya Bank reserves the right to vary the method of calculation of Service Fee, Transfer Fee, and any other applicable fees, charges or levies provided for herein for any reason whatsoever (whether arising from the change in your risk profile or otherwise), including the effective date of any such change, with reasonable notice to you.

13.2 Maya Bank retains the sole right to terminate or suspend your Maya Credit account as well as determine, modify, change, increase or decrease your Maya Credit limit without need of notice.

13.3 All notice requirements shall be as stated in these Terms. If Maya Bank is required to send notice to you, it shall do so through available channels including but not limited to, In-App notifications, SMS (and other similar channels), email, or registered mail which shall be sent to your registered address. Publication in Maya Bank’s website shall also be sufficient notice, as may be required by this Agreement.

13.4 Maya Bank has the right, at its option, to sell, transfer or assign any of its rights and obligations hereunder to any person, company, or entity without need of your consent. Any such sale, assignment, or transfer shall conclusively bind you. You shall be bound to fulfil and perform all your obligations to such transferee or assignee, including the payment of the Total Amount Due. The transferee or assignee shall have the authority to collect the amount due.

13.5 Maya Bank has the absolute right to terminate the Agreement together with any other document executed between you and Maya Bank at any time due to any breach of any of the terms and conditions of the Agreement.

13.6 Maya Bank reserves the right to amend any of the terms and conditions contained under these Terms, provided that such change will be communicated to you.  By continuing to use Maya Credit, you are agreeing to the updated Terms.

13.7 In case any provision of these Terms shall be declared to be invalid, illegal or unenforceable in any respect, the validity, legality or unenforceability of any other provision therein shall not in any way be affected or impaired thereby.

13.8 These Terms shall be construed and governed in accordance with the laws of the Philippines.

13.9 You understand and agree that these Terms including all disputes relative to your use of the services of Maya Bank and relating to your account shall be governed by the laws of the Republic of the Philippines without regard to conflict of laws principles. In case of any dispute arising out of these Terms or your use of the Services, you hereby agree, undertake, and commit to resolve or attempt to resolve such dispute promptly and in good faith. In case of failure to resolve any such dispute, you agree to the jurisdiction by and venue in the appropriate courts of Mandaluyong City, Philippines, to the exclusion of all other courts, and waive as you hereby waive, any objection to such jurisdiction or venue.

13.10 You understand that the Merchant is solely and exclusively liable for any obligations arising from and in connection with the provision of the goods and/or services subject of the MCCL transaction. Any additional fees charged by the Merchant in connection with the MCCL transaction are charged or imposed by the Merchant in its sole discretion and do not represent any fees charged or imposed by Maya Bank to you.

14.Customer Service

At Maya Bank, we consider our customer’s financial questions, needs and feedback as very important. If you have any concerns about a procedure or have encountered a problem with our service, we will do our best to address it within ten (10) banking days. You have our assurance that we will handle your concerns, feedback and information with utmost confidentiality and will strive to resolve them as soon as possible. Should your concern require more time to be resolved, we will update you every step of the way.

To contact our Customer Service, visit https://www.mayabank.ph/contact-us/.

Maya Bank is regulated by the Bangko Sentral ng Pilipinas.: www.bsp.gov.ph

CONSUMER DEPOSIT TERMS AND CONDITIONS

1. General Terms and Conditions

1.1 These terms and conditions (“T&C” or “Terms”) govern the terms under which you may access and use the products of Maya Bank, Inc. By opening a consumer savings account and/or using our services, you agree to be bound by these Terms. The General Terms and Conditions (GT&Cs) of Maya Bank accessible through this link: https://mayabank.ph/terms-conditions/ are deemed incorporated into these T&C. In case of conflict or inconsistency between the GT&Cs and these T&C, the terms of these T&C shall prevail. 1.2 Under these T&C, the terms “Maya Bank,” “Bank,” “we,” “us,” and “our” refer to Maya Bank, Inc. together with its employees, directors, affiliates, successors, agents, and assigns. Maya Bank, Inc. is a Filipino digital bank, duly licensed by the Bangko Sentral ng Pilipinas (“BSP”). 1.3 The terms “you” and “your” refer to the depositor who uses the services of Maya Bank as depositary bank. 1.4 These T&C shall be effective, valid, and binding from the time that you signify your agreement to these Terms. These T&C will be in full force and effect up to the time that it is terminated by you or us, save for some provisions, which shall remain effective after termination, as stated in this T&C, under any law, rule, or regulation.

2. Definition of Terms

2.1 Account Holder refers to an individual who maintains a savings account with Maya Bank.

2.2 Affiliates refers to any person or entity controlled by or under common control with another person. For purposes of the Terms, any of the entities under the MVP Group of Companies, including but not limited to PayMaya Philippines, Inc., PLDT, Inc., Metro Pacific Investments Corporation, Smart Communications, Inc., The Manila Electric Company, Maynilad Water Services, Inc., Metro Pacific Tollways Corporation, and MediaQuest Holdings, Inc., shall be considered as Affiliates of Maya Bank.

2.3 AMLA refers to the Anti-Money Laundering Act, otherwise known as Republic Act No. 9160, as amended, as implemented by the AntiMoney Laundering Council of the Philippines (“AMLC”).

2.4 Dormant Account refers an account that has had no deposit or withdrawal for a period of 2 years. 

2.5 Maya Bank Account or Account refers to your savings account with Maya Bank. 

2.6 Maya App refers to the mobile application that serves as the interface between the account holder and Maya Bank Account, whose terms of use shall be in accordance with the Terms and Conditions and User’s Guide found in the said Maya App.

2.7 Maya Savings refers to a deposit product offered by Maya Bank, Inc. in the Maya app where customers are able to make deposits and withdrawals at any time and without penalty through the available channels. Interest earned is computed based on the average daily balance (ADB) of the account.

2.8 Personal Goal/s refers to a goal-based deposit account where customers can keep their money for up to one hundred eighty (180) days while earning interest based on their average daily balance.

3. Opening of an Account

3.1 You may open and maintain Accounts subject to our sole discretion, upon your compliance and our verification of the requirements, in accordance with the BSP onboarding and due diligence requirements. These requirements include, but are not limited to, the following:

3.1.1 Name of customer (Full Name including Middle Name) and/or PhilSys Number (if available);

3.1.2 Date and Place of Birth;

3.1.3 Address;

3.1.4 Contact Number or Information / email address;

3.1.5 Citizenship or Nationality; 

3.1.6 Source of funds;

3.1.7 Nature of work;

3.1.8 Specimen Signature or Biometrics; and

3.1.9 One valid Primary ID or Two valid Secondary IDs (refer to https://www.maya.ph/quick-guide/upgrade for accepted government IDs).

4.1 You agree that withdrawals must be made through the modes that may be provided by Maya Bank. These may be subject to the procedures of Maya Bank’s partner entities and your providing of the required information in the Maya App. 4.2 You must maintain a minimum monthly average daily balance (“ADB”), the amount being reasonably determined by Maya Bank and may be subject to change upon prior notice. Failure to maintain a balance equal to or greater than the minimum monthly ADB for at least two (2) consecutive months will entail the imposition of a maintenance fee. 4.3 A dormancy fee may be imposed on your Account after five (5) years from the last activity therein and when the balance falls below the minimum monthly ADB. The dormancy fee charged is in addition to the maintenance fee. You shall be notified of the potential imposition of such a fee at least sixty (60) days prior to its imposition. 4.4 An Account may be reverted to the national government through the Treasurer of the Philippines after ten (10) years from the last activity therein. 4.5 In all instances, any aggregate and unpaid charges, fees, and other expenses for which the Account Holder is liable shall immediately become due without need of demand and may be immediately debited without prior notice from any remaining funds, money, and/or assets in the Account of the aforementioned Account Holder. 4.6 Interest-bearing accounts shall earn interest per annum at a rate to be agreed upon by you and Maya Bank, subject to pertinent laws, rules, and regulations. The rates may be changed, provided that such a change shall only take effect after public notice. No interest shall accrue on accounts that are considered dormant. 4.7 Your Maya Savings account earns interest daily, which shall be credited to your account on the next day minus the applicable taxes. Your Personal Goal account earns interest monthly, which shall be credited to your account on the first calendar day of the succeeding month, minus the applicable taxes. 4.8 If you are considered as a holder of a Foreign Account Tax Compliance Act (“FATCA”) reportable Account, you shall:
  1. Identify yourself as such holder;
  2. Provide Maya Bank with your U.S. Tax Identification Number; and
  3. Provide other documents or information as may be required by all the applicable laws, rules, or regulations, such as the Intergovernmental Agreement between the Philippines and the United States of America.
You also hereby declare under penalty of perjury that:
  1. All of the information that you have provided are true and correct; and
  2. You waive your rights pertaining to bank secrecy, privacy, or data protection rights on your Account if and when required by FATCA.
Failure to do the above may constrain Maya Bank to withhold the legally mandated amounts or to initiate the closure of your Account. 4.9 You agree that Article 1250 of the Civil Code shall not apply in case of extraordinary inflation or deflation of the currency stipulated herein.

5. General Terms of Service

5.1 Maya Bank agrees to act as a depositary bank for your deposit account which may be an interest- or non-interest-bearing account.

5.2 The applicable laws and rules of the Philippine Deposit Insurance Corporation (“PDIC”) relating to deposits shall govern. Applicable deposit accounts are insured by the PDIC up to a maximum of Five Hundred Thousand Pesos (P500,000.00) per depositor. PDIC shall presume that the name/s appearing on the certificate of deposit is/are the actual/beneficial owners of the deposit, except as provided therein.

5.3 Office hours shall be from 9 AM to 6 PM, Mondays to Fridays. Maya Bank’s online platforms are available 24/7 subject to the cut-off time of its partners applicable to certain transactions. You shall be notified in advance or at the soonest possible time of maintenance activities and the like.

5.4 Maya Bank reserves the right to modify, suspend, stop, or terminate any of its services immediately upon notice, at any time and from time to time, within applicable laws and regulations of the Philippines.

5.5 You will not use any device, software, or routine to interfere or attempt to interfere with the proper working of the Maya App.

5.6 Maya Bank reserves the right to verify any activity that is done through its facilities, especially if it involves compliance with AMLA or other laws, rules, or regulations.

Pursuant to the Implementing Rules and Regulation (“IRR”) of the AMLA, you grant Maya Bank the power and authority to report covered and suspicious transactions involving your account to the AMLC.

Pursuant to the IRR of the AMLA, you shall also authorize Maya Bank to maintain and safely store all records of all transactions involving your Account for five (5) years from the dates of these transactions. With respect to closed accounts, we shall also preserve and safely store the records on customer identification, account files, and business correspondence for at least five (5) years from the dates when they were closed.

Pursuant to the duties imposed by the AMLA, you agree to hold free Maya Bank from any liability.

5.7 We will attempt to process transactions promptly, but any transaction may be delayed or cancelled for a number of reasons including but not limited to: our efforts to verify your identity; to validate your transaction instructions; to contact you; due to variations in business hours and currency availability; availability of the system which may be affected by service disruptions or system maintenance; or otherwise to comply with applicable laws, rules, or regulations.

5.8 We may, in our absolute discretion, refuse or cancel transactions or services if: (a) Maya Bank is unable to verify your identity; (b) Maya Bank is unable to verify the identity of the recipient; (c) you do not comply with information requests pursuant to Clause 5.6; or (d) Maya Bank reasonably believes you are using its facilities, or allowing it to be used, in breach of these T&C or any applicable laws, rules, or regulations.

5.9 If we have executed the transaction in accordance with the instructions you have provided to us, and that the instructions prove to have been incorrect, we are not liable for the incorrect execution of the transaction. We will, however, make reasonable efforts to recover the funds. We may charge you a reasonable fee, reflective of our efforts, to do so. Unless there are exceptional circumstances, no adjustment will be made for any currency fluctuations which may have occurred between the time you pay us the transaction amount and the time of credit.

5.10 Maya Bank shall have the right to automatically suspend or block the transaction or any Account in the event that Maya Bank has reason to believe that the transaction or the account may be illegal or used for fraudulent or suspicious businesses or by an unauthorized person. Maya Bank may, but shall not have the obligation to, inform you prior to suspending or blocking the transaction pursuant to this clause. You acknowledge the authority of Maya Bank to suspend or block the transaction and the closure of the Account and accordingly, you shall hold Maya Bank free and harmless against any and all consequences of such suspension or blocking, or any loss or damage which you may suffer as a result thereof.

5.11 Fees and other charges shall be in accordance with the Table of Fees and Charges (as shown below under Annex B) which may be subject to changes upon discretion of Maya Bank and in accordance with laws, rules, and regulations. However, in the situation where there are insufficient funds in your Account to cover such fees and other charges, we reserve the right, without incurring any liability, to refuse to carry out the transaction.

5.12 In order to comply with our obligations under relevant laws, we reserve the right to require further information or evidence relating to your personal information and to the purpose of any transaction using our facilities.

6.Your Obligations

6.1 You agree to abide by the obligations stated under this section. You understand that failure to abide by these obligations is subject to Maya Bank applying reasonable penalties to you and your Account, including but not limited to charges, suspension, and/or termination of your Maya Bank Account, and proper reporting to the applicable authority of the laws, rules, and regulations that govern Maya Bank.

6.2 You agree not to use any “deep-link,” “page-scrape,” “robot,” “spider,” or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy, or monitor any part of the Maya App, or in any way reproduce or circumvent its navigational structure or presentation, as well as to obtain or attempt to obtain any material, document, or information through any means not purposely made available through our facilities.

6.3 You agree not to gain or attempt to gain unauthorized access to any part or feature of the Maya App or to any other system or network connected to the Maya App. You also agree not to gather, harvest, or otherwise collect information about others using the Maya App without our explicit informed consent; nor restrict, prevent, or prohibit any other party from using our facilities, including but not limited to such actions which may tend to discourage others from using the services, such as stalking, flaming, or the lashing out at other parties, spamming or the sending of unsolicited information, advertisement or content, flooding or the sending of repetitive messages, trolling or the use of insulting or deliberately divisive information, material or content, other forms of annoyances, and the like.

6.4You agree not to circumvent, disable, or otherwise interfere with security-related features of the Maya App, including those that prevent or restrict use or copying of any content, material, or information available on or through the Maya App, as well as those that enforce limitations on the use of our facilities.

6.5You agree not to probe, scan, or test the vulnerability of the Maya App or any network connected to it, and not to breach the security or authentication measures on the same. You agree not to reverse lookup, trace, or seek to trace any information on any user of or visitor to the Maya App, or any other client of Maya Bank including any account maintained with our facilities not owned by you, to its source, or exploit these or any information made available or offered by or through the Maya App, in any way where the purpose is to reveal any information, including but not limited to personal identification, other than your own information.

6.6You agree to use or access the Maya App for your information and personal use solely as intended through the provided functionality of the Maya App. You agree not to copy or download any material or content from or through them unless such copying or downloading is explicitly allowed by a visible manifestation thereof such as a “download” button or a similar link ostensibly displayed. You further agree not to engage or attempt to engage in the use, copying, transmission, broadcast, display, distribution, or sale of any of the contents, material, or information available on or through the Maya App, including user comments and the like, other than as expressly permitted herein, or as explicitly indicated.

6.7You agree that you will not take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Maya App or its systems or networks, or any systems or networks connected to it.

6.8 You agree not to incorporate any word in your name, message identification, or custom user title that is defamatory, obscene or profane, or which violates any trademark, service mark, or other intellectual property rights of any third party, including that of Maya Bank. You likewise agree not to use any trademark, trade name, service mark, or logo in a way that is likely or intended to cause confusion about the owner or authorized user of such marks, names, or logos.

6.9You agree not to use any device or routine to interfere or attempt to interfere with the proper working of the Maya App or any transaction being conducted using our facilities, or with any other person’s use of these facilities. You agree that you will not engage in any activity that interferes with or disrupts our services or the servers and networks which are connected to our facilities.

6.10 You undertake to provide us with: (a) true, accurate, current and complete evidence of your identity, and promptly update your personal information if and when it changes; (b) provide us with any identity documentations as may be requested by us; and (d) any other information that must be provided for our services to be properly executed. You agree not to conceal your true name or use a fictitious name; otherwise, Maya Bank may file a criminal case against you for violation of penal laws of the Philippines, including the Anti-Alias Law (Commonwealth Act No. 142, as amended by Republic Act No. 6085), among others.

6.11 You agree to update your personal information should there be material changes or as may be required by Maya Bank from time to time.

6.12 Once you confirm the transaction or ask Maya Bank to proceed with the Transaction, you agree that you may neither cancel nor reverse such transaction. Maya Bank shall proceed with crediting the account of the recipient and once the money or fund is in the account of the beneficiary or recipient, Maya Bank cannot reverse nor deduct such account without the proper court order or authorization.

6.13 You agree not to use the facilities of Maya Bank for any purpose that is illegal, unlawful, or prohibited by these Terms, or to solicit the performance of any illegal activity or other activity which infringes on the rights of Maya Bank or others, which includes but is not limited to selling, leasing, or giving your Account to a third party.

6.14 You agree that you are responsible to check for update/s and will download such update/s to the Maya App before use. You also agree that the device used to access the Maya App is compatible or meets the minimum system requirements of the Maya App. You understand that certain Maya App functions may not be available or may be disabled by Maya Bank if you do not perform the needed update or meet the compatibility / minimum system requirements.

You agree that it is your responsibility to take all reasonable precautions to ensure that the device used to access the Maya App is free or is reasonably protected from any computer viruses or similar devices or software including, but not limited to, Trojan horses and worms.

6.15 You agree that it is your responsibility to securely keep your PIN and/or Password, including your one-time pin (OTP). The use of your

User ID and your PIN and/or Password will serve as your irrevocable authorization for us to carry out transactions that you initiated. Any fraudulent activity by your device, agents, employees, officers, and authorized representatives using your User ID and your PIN and/or Password, such as but not limited to unauthorized withdrawals or transfers, that may bring about financial losses to you is your sole responsibility.

6.16 You agree that by supplying your personal information for the purpose of using the Service, you expressly consent to the processing of your supplied personal information for the purpose of creating and maintaining your Account. Such consent includes authorization for Maya Bank to disclose, exchange, and release the said information to its associates, affiliates, subsidiaries, officers, employees, agents, lawyers, and other consultants, pre-paid/debit/credit bureaus or any such persons as Maya Bank deems necessary, or as required by laws, rules, or regulations. In the event that the disclosure or processing of your information does not fall among the above-mentioned situations, we will obtain the necessary consent, subject to existing laws, rules, and regulations on bank secrecy, data privacy, and other relevant laws, rules, and regulations.

6.17 In opening and maintaining a savings account and/or availing any of the bank products and services covered under these Terms, you agree to waive, without need of notice, in favor of Maya Bank, including any of its Affiliates, service providers, shareholders, associates, subsidiaries, officers, employees, agents, lawyers, partners, and other consultants, your rights under Section 55.1 (b) of Republic Act No. 8791 (The General Banking Law of 2000), under Republic Act No. 1405, or any other right pertaining to secrecy of bank deposits for any of the following purposes:

  1. Updating your Maya Bank account upon your request;
  2. Validating your identity before providing our services, or responding to any of your queries, applications, feedback, and complaints;
  3. Managing our day-to-day business operations;
  4. Keeping your information updated through our official data touchpoints;
  5. Providing customer service and support;
  6. Performing credit checks or due diligence checks to minimize risks or frauds;
  7. Safeguarding your account and protect you against fraud and other criminal activity;
  8. Settling claims or disputes involving any of our products and services;
  9. Complying with all applicable laws and regulations as well as performing our obligations from any legal authorities;
  10. Marketing and Credit scoring;
  11. Updating you on changes to our products or services; and
  12. For any other lawful purpose that Maya Bank may deem fit or necessary.

7. User Representation and Warranties

7.1 You warrant that all information you provided Maya Bank are true, correct, and accurate. You further warrant that in case of any change in the circumstances which affect the information you have provided to Maya Bank, you shall inform Maya Bank of such changes within fifteen (15) days from the occurrence of the said change. Maya Bank, its officers, and/or employees shall be held free from any liability for any damages, claims, or demands from your failure to do so or to inform Maya Bank in a timely manner.

7.2 By visiting and/or using the Maya App, you declare, undertake, and affirm that you take sole responsibility for whatever consequences that may arise out of your visit and/or use of our facilities. You understand that Maya Bank shall not be liable for, and you hereby hold Maya Bank free from, any direct, incidental, special, consequential, indirect, or punitive damages whatsoever resulting from your use of, or your inability to use, our facilities. On the other hand, you declare, undertake, and affirm that you shall indemnify Maya Bank for any direct, incidental, special, consequential, indirect, or punitive damages whatsoever resulting from your use of the Maya App contrary to these Terms. You further agree, undertake, and commit to indemnify Maya Bank for any breach of its proprietary and other rights, including breach of these Terms, which you may commit in the course of or arising out of your use of our facilities.

8. Reserved Rights

8.1 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to deny access to and/or discontinue its services or any component thereof to anyone at any

time, temporarily or permanently, without giving any reason and/or prior notice to you. You hereby irrevocably agree, affirm, and warrant to hold Maya Bank free from any liability, both under equity and the law, arising or that may arise out of any such denial of access to or the discontinuance of its services.

8.2 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to collect, screen, review, flag, filter, modify, block, refuse, or remove any and/or all information provided by any user, explicitly or implicitly to and through its facilities, including but not limited to hardware information, IP address, browser-type related information, cookies, and the like. You hereby irrevocably agree, affirm, and warrant to hold Maya Bank free from any liability, both under equity and the law, arising or that may arise out of any such collection, screening, review, flagging, filtering, modification, blocking, refusal, or removal of any and/or all information provided by any user to and through its facilities.

8.3 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to enhance, improve, develop, and introduce new features and functionalities to its facilities at any time and without prior notice. You hereby understand, agree, and affirm that any such enhancement, improvement, development, new feature, and/or new functionality to the Maya App shall form part of its services as defined herein and thus shall likewise be covered by these Terms and its subsequent revisions or amendments, as applicable.

8.4 You understand and agree that Maya Bank reserves the right, at its sole discretion, to verify, check, cross-refer, validate, and ascertain the veracity and truthfulness of all information supplied by you by acquiring, accessing, retrieving, or otherwise acquiring similar or additional information supplied by you to other third-party service providers, including, but not limited to telecommunications providers, etc. You hereby expressly, unequivocally, and voluntarily allow Maya Bank to request for and secure such information, and expressly, unequivocally, and voluntarily instruct such third-party providers to: (a) receive and process Maya Bank’s request; (b) favorably act at all times on any such request by producing the information requested; and (c) when requested by Maya Bank, provide the latter with certified digital or printed copies of the said information.

8.5 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to send you or cause to send you service updates and/or messages, including SMS, notifications, email and/or any data message transmission, informing you of enhancements, improvements, developments, features, functionalities, products, promotions, offers, advertisement and/or any other information relative to its services and Maya Bank. Maya Bank makes no warranty of any kind, express or implied, for such service updates and/or messages, but you hereby agree to receive such service updates and/or messages and hold Maya Bank free from any liability and/or claims for indemnification or damages that may arise there from.

8.6 You understand and agree that Maya Bank reserves the right, at its sole discretion, to set limitations to and charge fees and applicable taxes for the use of its facilities, at any time and upon prior notice. You further understand and agree that Maya Bank reserves the right, at its sole discretion and under no obligation, upon notice, to change the applicable fees, taxes, and charges levied for the use of the services, at any time, subject to the conditions set out in Section 15.1 of the Terms and Conditions.

8.7 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to enforce the provisions of these Terms, including but not limited to performing investigation and legal actions with law enforcement agencies regarding the Account Holder. Non-enforcement of any of the rights of Maya Bank under these Terms, under the law or under principles of equity shall not be construed as a waiver thereof. Likewise, no subsequent course of action by Maya Bank, by you, and/or by any third party, individually or collectively, shall not operate and shall not be construed to operate as abandonment, amendment, or modification of these Terms. You likewise hereby declare, affirm, and undertake the sole obligation to indemnify Maya Bank or any third party for any damage Maya Bank or said third party may sustain as a result of your use of our facilities.

8.8 You understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to limit the provision, availability, quantity, and quality of any feature, product, or service to any person or to anyone within the same geographic area, demographic profile, or any other market, commercial, and/or trading segments. You likewise understand and agree that Maya Bank reserves the right, at its sole discretion but without obligation, to administer and operate any and/or all of its services from any or various locations outside the Republic of the Philippines. You further understand, agree, and hold Maya Bank free from any liability arising therefrom, that not all features, products, or services discussed, referenced, provided, or offered through or in the Maya App are available to all persons or in all geographic locations, or are appropriate or available for use outside the Republic of the Philippines. Any part or the whole of these Terms are void where prohibited. You hereby understand, agree, and undertake sole responsibility for your continued access to or use of our facilities, as well as the results or consequences of such access and use, including the responsibility for compliance with applicable local laws and the sole liability for non-compliance or breach thereof.

8.9 You understand that and agree that Maya Bank reserves the right, in case of any amount mistakenly credited to your Account, to debit the erroneously credited amount from your Account and/or any of your accounts.

8.10 You understand and agree that Maya Bank reserves the right to comply with a notice or order from a court or other competent authority for the garnishment, attachment, freezing, or sequestration of any or all of your Accounts. The amount subject of the notice or order shall automatically be on hold and no withdrawals will be allowed until the order has been lifted.

8.11 You understand and agree that in the event that:

  1. a claim or dispute arises in relation to the Account, its ownership, or operation;
  2. conflicting instructions are given in relation to the Account;
  3. it receives a request or instruction to freeze the Account; or
  4. other similar or analogous circumstances occur,

Maya Bank reserves the right, in its sole discretion, to take any necessary actions, such as freezing of the account or filing interpleader suits. You understand that such actions are authorized, approved, and ratified by you and you hold Maya Bank free from any liability arising therefrom.

9. Closing of Account

9.1 You are free to close your Account with Maya Bank, subject to the submission of necessary documents and the surrender of items or documents evidencing ownership. A reasonable nominal charge will be imposed if the Account is closed within thirty (30) days from its opening.

9.2 Maya Bank may also immediately initiate closure of your Account without prior notice if misrepresentation or falsity of information provided by you is found, if the balance of the Account becomes zero (0) and remains as such for a substantial amount of time, if the Account has or is being used for fraudulent or illegal activities, or if Maya Bank finds it reasonable in order to protect its interest.

9.3 Maya Bank may also initiate closure of your Account when it finds that you have not handled the Account in a manner satisfactory to Maya Bank. Maya Bank is authorized to keep records and inform the Bankers Association of the Philippines of the closure of such accounts. 

10. Data Privacy Statement

10.1 You authorize Maya Bank and its official partners to process the personal information that you have provided directly or indirectly in our data collection touchpoints relevant to the respective purposes furnished to you in our privacy notices. 

With your active use of our products and services, you agree to the Data Privacy Statement of Maya Bank found at http://www.mayabank.ph/privacy.

11. Liabilities

11.1 You agree to indemnify, defend and hold harmless Maya Bank, its subsidiaries and affiliates, and their directors, officers, employees and agents, from and against any loss, damage, liability, costs and expenses, including reasonable attorney’s fees (collectively, “Losses’), arising out of or based on:
  1. breach of, or failure to perform, any of your obligations contained in this Agreement;
  2. your gross negligence or willful misconduct; or
  3. errors incurred by or judgments/decisions made by you.
11.2 You may be penalized by Maya Bank equivalent to the amount of damage or cost incurred or penalty paid arising from your action as listed in the preceding section or from failure to comply with any provision of this Agreement as well as other agreements with Maya Bank. 11.3 Maya Bank agrees to indemnify, defend and hold harmless you, your subsidiaries and affiliates, and your directors, officers, employees and agents, from and against any losses arising out of or based on (a) breach of, or failure to perform, any obligation of Maya Bank contained in this Agreement, or (b) the gross negligence or willful misconduct of Maya Bank. 11.4 In no event shall Maya Bank and you be liable, in the absence of gross negligence and willful misconduct, for any indirect, special, incidental or consequential damages under this Agreement, including, without limitation, loss of profits, revenue, data or use, even if Maya Bank and/or you have been advised of the possibility of such damages.

12.  Governing Law and Venue of Litigation

12.1 These Terms shall be construed and governed in accordance with the laws of the Philippines.

12.2 You understand and agree that these Terms including all disputes relative to your use of the services of Maya Bank and relating to your Account shall be governed by the laws of the Republic of the Philippines without regard to conflict of laws.  In case of any dispute arising out of these Terms or your use of the Services, you hereby agree, undertake, and commit to resolve or attempt to resolve such dispute promptly and in good faith. In case of failure to resolve any such dispute, you agree to the jurisdiction by and venue in the appropriate courts of Mandaluyong City, Philippines, to the exclusion of all other courts, and waive as you hereby waive, any objection to such jurisdiction or venue.

13. Non-Waiver of Rights by Maya Bank

13.1 Failure, omission, or delay on the part of Maya Bank to exercise its right or remedies under these Terms and Conditions shall not operate as a waiver. Any such waiver shall be valid only when reduced in writing and delivered to the Account Holder.

14. Separability Clause

14.1 Should any term or condition in this Agreement be rendered void, illegal, or unenforceable in any respect under any law, the validity, legality, and enforceability of the remaining terms and conditions shall not be affected or impaired thereby.

15. Amendments

15.1 Maya Bank may at any time and for whatever reason it may deem proper, amend, revise, or modify these Terms, which shall only be implemented sixty (60) days after notice to the Account Holders. You agree that for purposes of these Terms, publication of the revised Terms in Maya Bank’s website shall be considered as sufficient notice. It is the Account Holder’s responsibility to regularly check any changes to these Terms at www.mayabank.ph. Your continued use of Maya Bank’s services and continued maintenance of your Account after any such changes constitute acceptance of the new Terms. Failure to notify Maya Bank of your intention to terminate your Account shall be construed as acceptance of the amendments to these Terms. You may notify Maya Bank of your rejection of the amendments to these Terms within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice. Proper notice of your rejection would entitle you to exit the contract without penalty.

16. Notices

16.1 All notice requirements shall be as stated in these Terms. If Maya Bank is required to send notice to you, it shall do so through available channels including but not limited to, in-app notifications, SMS, email, or registered mail which shall be sent to your registered address. Publication in Maya Bank’s website shall also be sufficient notice, as may be required by this Agreement.

17. Customer Service

17.1 At Maya Bank, we consider our customer’s financial questions, needs and feedback as very important. If you have any concerns about a procedure or have encountered a problem with our service, we will do our best to address it within ten (10) calendar days. Should your concern require more time to be resolved, we will update you every step of the way.

Channel

Details

Maya Bank, Inc. Support Page

https://support.mayabank.ph/

Help Center

Access the Help Center by logging in to the Maya app, tapping the Menu button on the upper left corner, and tapping ‘Help’.

Email

support@mayabank.ph

Maya Bank
Customers
Hotline

Maya Bank Customer Service No.: (+632) 884577-88
Domestic Toll-Free Landline: 1-800-1084-57788
Using your Smart number: *788

 

You have our assurance that we will handle your concerns, feedback

You may contact Customer Service using the information below or reach out to us on our official social media channels. and information with utmost confidentiality and will strive to resolve them as soon as possible. Maya Bank will handle the information we receive as construed in Section 10 Data Privacy Statement.

Maya Bank is regulated by the Bangko Sentral ng Pilipinas: www.bsp.gov.ph

18. Corporate Governance

18.1 Maya Bank’s business activities are regulated by its own internal business rules and Corporate Governance policies which are compliant with applicable anti-corruption laws. Maya Bank’s policies and internal controls are designed to prevent bribery from occurring, avoid appearance of wrongdoing and enable Maya Bank personnel to respond promptly and effectively to any inquiries about its conduct. In case of any violation of the Corporate Governance policies by Maya Bank, its Stockholders, Directors, officers, employees, or agents, any party may report the same to Maya Bank’s Corporate Governance Office, by sending an email to corpgov@mayabank.ph, from 9AM to 6PM, Philippine Time, Mondays through Fridays, except holidays.

Annex A Table of Interest Rates

Effective as of June 2, 2023

Product

Balance Earning Interest

Base Interest Rate p.a.

Boosted Interest Rate p.a.*

Maya Savings

PHP 0.01 – PHP 100,000.00

3.5% p.a.

Up to 11.0% p.a.

PHP 100,000.01 – PHP 5,000,000.00

3.5% p.a.

0.00% p.a.

PHP 5,000,000.01 and above

0.00% p.a.

0.00% p.a.

On June 2, 2023, your new minimum base interest will be 3.5% p.a. but you can boost it up to 10% p.a. interest every time you pay with Maya from June 5 to August 31, 2023. Learn more at mayabank.ph/savings and mayabank.ph/10percentboost​​

*Eligible Smart Postpaid subscribers can boost their Maya Savings interest to up to 11% interest p.a. every time they pay with Maya starting June 9 to August 31, 2023. Learn more at maya.ph/smartpostpaidoffers

Effective as of June 2, 2023

Product

Balance Earning Interest

Interest Rate p.a.

Personal Goal (per goal account)

PHP 0.01 – PHP 1,000,000.00

4.00%

PHP 1,000,000.01 and above

0.00%

Interest rates may be changed, provided that such change shall only take effect after public notice. No interest shall accrue on accounts that are considered dormant.

Annex B Table of Fees and Charges

Fees & Charges

Amount

Remarks

Dormancy Fee

Waived*

Charged after five (5) years from last activity

Account Closure

Waived*

Charged if the account is closed within 30 days from account opening

ADB falls below the minimum required

Waived*

Charged if the account’s ADB falls below the required ADB

Bank Statement Generation

Coming Soon

Waived*

Charged for requests to generate bank statements

Bank Certificate Generation
Coming Soon

Waived*

Charged for requests to generate bank certificates

Transfer to Maya wallet

Free

Charged for
transactions made to
Maya wallets

Transfer to other Maya Bank Accounts

Free

Charged for transactions made to another Maya Bank account

Transfer via InstaPay

PHP 15.00 per transaction

Charged for
transactions done via
InstaPay

Transfer via PESONet

PHP 15.00 per transaction*

Charged for
transactions done via
PESONet

The table of fees is as of October 14, 2022.

*Waived until further notice.

Additional fees and charges may be imposed at a later time. Account Holders shall be informed of any changes to the fees and charges imposed on their account at least 60 days prior to implementation.

Annex C Special Provisions on Deposit Products

1.Personal Goals

1.1 Personal Goals Creation

1.1.1 A maximum of five (5) active Personal Goals are allowed per customer. 

1.1.2A maximum of one hundred eighty (180) days from the goal creation date is allowed for its due date. 

1.1.3. An active Maya Savings account is required before a Personal Goals account can be created.

1.2 Personal Goals Cancellation

1.2.1 Should you decide to move the funds from your Personal Goal to your Maya Savings account prior to its due date, you may cancel your goal through the Maya App. 

1.3 Crediting of Proceeds to Maya Savings Account

1.3.1 Proceeds from your Personal Goal (total deposit plus accrued interest less applicable withholding taxes), regardless if it is cancelled or completed, will be credited to your own Maya Savings account. 

1.3.1.1 After which, your Personal Goals may now be closed by tapping the button from the bottom sheet appearing on your Savings dashboard.

GET PHP100 WHEN YOU OPEN & DEPOSIT TO YOUR MAYA SAVINGS

  1. Promo period is from June 24 to July 31, 2022
  2. This promo is open to Maya users who have accomplished the following within the promo period
    1. New Maya users who have signed up and upgraded their account within the Maya App, excluding embedded wallets (Gigalife, Rockwellist, Messenger, etc.
    2. Have opened a Maya Savings account
    3. Have deposited any amount to their Maya Savings account
  3. Users who signed up for Maya and opened a Maya Savings account before or after the promo period are not eligible for the program
  4. Qualified users can earn PHP 100 cashback voucher when they are able to accomplish all the steps in Step 2.
  5. To deposit money to your Maya Savings account, just go to the Maya Savings dashboard and tap deposit from Maya wallet to your Maya Savings account.
  6. The user can earn the PHP100 cashback voucher only after depositing any amount to their Maya Savings account.
  7. Qualified users will receive their cashback voucher in the Maya app up to fourteen (14) business days after the promo period.
  8. To redeem the voucher, follow these steps:
    1. Open the Maya app and log in to your account
    2. Tap “Vouchers” in the home screen
    3. Select the voucher you want to redeem under “Available” and tap “Claim”
    4. Review the details and amount of the voucher and tap “Claim Now”
    5. You will receive a notification of the voucher redemption in-app and via SMS
    6. Redeemed voucher amount will be reflected in your Maya account balance
  9. All Maya users must follow strict compliance with mandatory social distancing requirements as imposed by the Philippine government to prevent the spread of the COVID-19 virus. For your health and safety, always remember to maintain spacing of at least 1 meter in diameter between you and other people while in public areas.
  10. Maya users with merchant accounts and those under Maya Business App are disqualified from participating in this promo.
  11. This promo is applicable to unique and valid Maya accounts only. Maya reserves the right to withdraw rewards or prizes if one person has already received the prize or benefit beyond the maximum reward, even if already issued.
  12. Maya users with duplicate accounts or who are blacklisted cannot participate in this promo. Maya reserves the right to cancel or withdraw the prize or benefit if proven to be a duplicate account or participant is blacklisted.
  13. Maya reserves the right to refuse the awarding of rewards or prizes to accounts that are proven to be invalid or fraudulent or a result of gaming (i.e. abuse of system or weakness in the promo to win prizes or receive benefits).
  14. Should the qualified deposit transaction be cancelled or declined within the promo period, whether the cancellation is customer- or biller-initiated, Maya reserves the right to withdraw the cashback or reward equivalent to the cancelled transaction, even if the cashback or reward has already been credited.  Maya reserves the right to debit any points/cash reward credited from your balance. If your balance is insufficient to cover the amount to be withdrawn at the time of withdrawal, Maya reserves the right to debit the balance not withdrawn when your balance is sufficient.
  15. The customer must notify Maya for any complaints regarding the promo. The decision of Maya on the complaint with concurrence of DTI FTEB shall be considered final. For clarifications and complaints relative to this promo, please email support@maya.ph.
  16. Maya users who have exceeded their aggregate limits may not receive their prize or cashback on time. The prize or cashback can only be credited the following month or once a user’s account balance is once again within the allowable limits – Php 50,000 for starter accounts and Php 100,000 for upgraded accounts.
  17. Deposits are insured by PDIC up to P500,000 per depositor.

DTI Fair Trade Permit No. FTEB- 145630 Series of 2022

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