IMPORTANT: Please read these Terms and Conditions governing issuance and use of EastWest Prepaid Card (“Terms”) carefully.

By using your EastWest Prepaid Card, you are deemed to have read, understood, and agreed to be bound by these Terms and Conditions, as well as the Bank’s General Terms and Conditions Governing Deposit Accounts. In case of any conflict or inconsistency between the Bank’s General Terms and Conditions, these Terms and Conditions shall prevail solely with respect to the use of your Prepaid Card.

Definition of Terms

1. “Bank”, “we”, “our” refers to East West Banking Corporation.
2. “Cardholder”, “you,”or “your” refers to the individual to whom the Card has been issued and whose name appears thereon.
3. “Prepaid Card” “Card” refers to the EastWest Prepaid Card.
4. “Card Network” refers to the payment network (e.g. Visa) that processes the transaction of the card.

1. The Card

EastWest Prepaid Card is a peso-denominated reloadable card that is pre-loaded with your own money. It allows you access to your own money loaded into the card via the ATM, Point-of-Sale (POS) terminals or online in the Philippines and overseas, as well as to use the card in accordance with Section 7 hereof. It is further understood that:

1. Non-Transferability. Your Prepaid Card is non-transferable.
2. PDIC Insurance. Unlike a debit card, a Prepaid Card is not linked to any of your deposit accounts and therefore funds loaded into it are not considered deposits and are not insured with the Philippine Deposit Insurance Corporation (PDIC).
3. Interest and Rewards. Balances may only be redeemed at face value. The balance will not earn interest nor rewards and other similar incentives convertible to cash or be purchased at a discount.

2. Consumer Protection

The Bank shall ensure compliance with the standards of conduct pursuant to Republic Act No. 11765 (Financial Products and Services Consumer Protection Act), and Bangko Sentral ng Pilipinas (“BSP”) Circular No. 1160, namely: (a) disclosure and transparency of relevant terms, conditions, fees, and charges; (b) fair treatment of clients in all dealings; (c) protection of client information; (d) provision of effective recourse and accessible complaint resolution mechanisms; and (e) protection of client assets against fraud and misuse. These standards form part of the Bank's Financial Consumer Protection Framework and shall govern its relationship with the cardholders.

3. Processing of Your Personal Data

By applying for and using your Card, you acknowledge and agree that the Bank, as Personal Information Controller, will collect, process, and store your personal and/or sensitive personal information (“personal data”), including, but not limited to your name, card details, mobile number, email address, and transaction data. Such information will be used solely for the following purposes:

1. To process transactions and verify your identity;
2. To manage and improve our products and services, as well as informing you about other bank products and services you might be interest in;
3. To comply with legal, regulatory, and operational requirements; and
4. To prevent fraud and resolve disputes.

Further, you expressly authorize the Bank to share and disclose your personal data and information related to your Prepaid Card transactions with the Bank to its subsidiaries, affiliates, members of the Filinvest Group, third-party service providers, agents, and business partners, including correspondent banks and card networks. This includes cross-selling and promotional offers related to other EastWest Bank or Filinvest Group’s products and services. Such information may be shared, as necessary, with such third parties whether located within or outside of the Philippines and may be used for legitimate business purposes. In doing so, we will comply with applicable data protection laws and regulations.

The Bank shall process your personal data in accordance with the Data Privacy Act of 2012 (DPA) and its implementing rules and regulations, along with the applicable circulars of the National Privacy Commission (NPC), as well as EastWest Bank’s Data Privacy Statement as outlined at its corporate website: https://www.eastwestbanker.com/privacy-statement.

4. Card Activation

Activation of the card is subject to our activation policy and procedure. We reserve the right to decline your card activation request without any obligation to disclose the reason. You shall hold us free and harmless for any claim arising from the non-activation of your card.

5. Loading of Funds

You may reload funds to the Prepaid Card at channels we identified. The aggregate load limit per client per month is subject to applicable laws, particularly BSP Circular No. 1166 (Amendments to the Regulations on Electronic Money (E-money) and the Operations of Electronic Money Issuers (EMI) in the Philippines and any amendments thereto. We may refuse to accept additional reloading if the resulting monthly load would exceed the said monthly aggregate limits.

We reserve the right to charge a fee for reload transactions. Method of fee collection will be dependent on the reload channel and will be charged to you on top of your desired reload value.

Reloading is via:

1. Over-the-counter (OTC) through any EastWest Bank branch and EastWest Mobile/ Online Banking channel; or
2. Other channels as we may introduce in the future.

6. Re-loading Limits

The reloading limit refers to the maximum monthly aggregate amount that you may load to all your Prepaid Cards.

7. Card Use

7.1 We have existing agreements with our correspondent banks and card networks (e.g. VISA, etc.) abroad. This allows you to make withdrawals and/or payment transactions with the use of your Card in other countries. Any withdrawal or payment transaction that you make outside the Philippines through the use of your Card constitutes a disbursement from your card balance and a remittance to the country where the withdrawal or payment transaction occurred. These transactions will therefore be subject to the applicable laws, government rules and regulations of both the Philippines and the country where the withdrawal or payment transaction was made. Cash withdrawals or payment transactions outside the Philippines using your Card will be in the currency allowed by the institution that owns the ATM/POS terminal from where the withdrawal/payment transaction was made and up to the maximum amount permitted by and subject to other limitations imposed by that institution. Cash withdrawals or payment transactions are also subject to any exchange controls, regulations, or limitations in effect in the country where the ATM/POS terminal is located. The amount will be converted at the exchange rate set by the card network on a date we determine, which may differ from the date you made the transaction. Transactions shall be subject to transaction fees as determined by both us and the international network through which the transaction was coursed. Such transaction fees shall also be subject to the exchange rate in effect on a date determined by us, which may differ from the date when you made the transaction. Should there be a need to reverse a foreign currency transaction, you agree that you will be responsible for any cost and absorb any loss or gain, or charges associated with the currency exchange, and we may charge any of these costs to your card balance.

7.2 Your card will be debited in the currency of your purchase. The debits will be subject to the currency exchange determined by the card network.

8. Security and Cardholder Responsibilities

8.1 All transactions performed using the Prepaid Card shall be conclusively presumed valid and binding unless a dispute or report has been filed with the Bank in accordance with Section 12 hereof. Cardholder liability for unauthorized transactions is limited to those performed prior to timely reporting of card loss or compromise, except where the Bank’s fraud, gross negligence, or system error is proven. Transactions disputed in accordance with Section 12 will be subject to the Bank’s investigation and final determination based on available records.

8.2 As the cardholder, you are responsible for ensuring that all information provided to us including your contact details, is accurate, complete, and up to date in the Bank’s records. Any failure to do so may result in the rejection of transactions or service disruptions.

8.3 You are responsible for monitoring your Card transactions and when necessary, blocking your Card for transactions. You shall notify the Bank immediately if your Card is lost, stolen, or compromised, or if you suspect any unauthorized use of your Card. For Card-related concerns, you may call EastWest 24-Hour Customer Service at (+632) 8888-1700.

9. Transaction Limits and Modifications

The Bank reserves the right to impose transaction limits, to freeze, or restrict the use of the Card at any time for security, regulatory compliance, or risk management purposes.

10. Card Replacement, Blocking, and Cancellation

You, as the cardholder, are solely responsible for initiating any necessary actions regarding the your Card, including but not limited to:

1. Card Replacement in case of loss, damage, or expiration.
2. Card Blocking in cases of suspected fraud, misuse, or unauthorized transactions.
3. Card Cancellation if the card is no longer required or in the event of a dispute.

The Bank shall not be held liable for any losses incurred due to delays in reporting lost, stolen, or compromised cards.

11. Fees and Charges

The bank reserves the right to impose fees related to the issuance, reloading, use, and inactivity of the Prepaid Card. Fees and charges are available on the bank’s website: https://www.eastwestbanker.com/help-and-support-center/deposit/banking-fees-and-charges

12. Liability for transactions and disputes

12.1 You acknowledge that all transactions made using your Card, shall be conclusively presumed valid, authorized, and binding on you and your account, unless you dispute the transaction within thirty (30) calendar days from the transaction posting date and prove otherwise. Disputes will be handled in accordance with the Bank’s established dispute resolution process and applicable BSP regulations. The Bank’s records and transaction logs shall be conclusive evidence of such transactions.

12.2 Unless dispute or report has been duly filed with the Bank, you, as the cardholder, agree that you remain fully liable for all transactions, fees, charges, or penalties incurred using your Card, including but not limited to:

a. Transactions made without your express knowledge or approval;
b. Misuse, including fraudulent, illegal, or unauthorized transactions; and
c. Transactions facilitated by third-party networks, merchants, or service providers, unless directly and solely caused by the Bank’s fraud, gross negligence, or willful misconduct.

12.3 You, as the cardholder, understand and agree that only you may formally dispute a transaction. Any such disputes must be filed within thirty (30) calendar days from the transaction posting date and in the manner prescribed by the Bank’s established internal procedures. The Bank’s findings on the dispute, made in good faith and consistent with BSP regulations, shall be final, conclusive, and binding.

12.4 You, as cardholder, may dispute transactions in accordance with the Bank’s dispute resolution process. The Bank shall investigate all disputes fairly and promptly, including those involving potential fraud, error, or unauthorized use.

13. Indemnity

13.1 You, as the cardholder, agree to indemnify, defend, and hold the Bank, its directors, officers, employees, agents, and representatives free and harmless from and against all liabilities, claims, demands, actions, losses, damages, penalties, fines, costs, and expenses (including legal fees and costs of enforcement or investigation) arising out of or in connection with:

13.1.1 The use or misuse of the Card by you, or your representatives, whether or not with the Bank’s knowledge or consent;

13.1.2 Any breach of these Terms and Conditions, or of applicable laws, rules, or regulatory requirements by you or your representatives,

13.1.3 Any claim, action, or proceeding by third parties, regulators, or government authorities related to transactions or activities involving the Card.

13.1.4 In the event that any withdrawal or transaction using the Prepaid Card is declined for any reason, including but not limited to insufficient funds, system or network error, communication failure, merchant or POS malfunction, regulatory restrictions, or other causes beyond the reasonable control of the Bank.

13.2 This indemnity shall apply regardless of whether the Bank has been notified of such claim or demand, and shall survive the suspension, cancellation, or termination of the Card.

13.3 The indemnity shall not be limited or affected by any settlement or compromise entered without the Bank’s prior written consent.

13.4 The foregoing indemnity shall not apply to the extent that the liability, loss, or damage has been conclusively determined by a final judgment of a court of competent jurisdiction to have been directly and solely caused by the Bank’s fraud, gross negligence, or willful misconduct.

14. Customer Assistance and Complaint Handling

14.1 For any inquiry, concern, or dispute relating to the use of your Card through Digital Wallet Services, you may contact the EastWest 24-Hour Customer Service Hotline at (+632) 8888-1700, or email service@eastwestbanker.com.

14.2 The Bank shall acknowledge and address customer concerns in a prompt, transparent, and professional manner consistent with its internal procedures and prevailing BSP regulations on financial consumer protection.

14.3 If you believe your concern remains unresolved after completing the Bank’s internal complaint process, you may contact the Bangko Sentral ng Pilipinas (BSP) Consumer Assistance through consumeraffairs@bsp.gov.ph.

14.4 In terms of the exercise of your rights as a data subject or to provide any feedback about our processing of your personal data, you may send an email to ewbdpo@eastwestbanker.com. For guidance in lodging a data privacy-related complaint, please refer to NPC's website: https://privacy.gov.ph/mechanics-for-complaints/.

15. Amendments and Termination Notice

15.1 The Bank may amend, supplement, or revise these Terms and Conditions at any time, subject to applicable notice requirements under existing laws and regulations. Notice of such amendments may be given through any channel deemed appropriate by the Bank, including electronic mail, SMS, website, or other electronic means.

15.2 Continued use of your Card after the effectivity of such amendments shall constitute your acceptance of the revised Terms.

15.3 In the event you do not agree with the changes, you must immediately discontinue using the Card.

16. General Provisions

1. No Waiver of Rights. No failure or delay by the Bank in exercising any right, power or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy.
2. Separability Clause. If at any time any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any respect, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby.
3. Governing Law. These Terms and Conditions shall be governed by and construed in accordance with Philippine laws.
4. Venue of Actions. Actions or proceedings arising out of or in connection with these Terms and Conditions shall be brought before the proper courts of Taguig City, all other venues being expressly waived.
5. Binding Effect. These Terms and Conditions shall bind the parties, their heirs, executors and administrators, as well as their successors and assigns.