Rural Bank of Kibawe (Bukidnon) Inc. Deposit Products Terms and Conditions
Effective Date:March 24, 2026
These Terms and Conditions govern all deposit accounts maintained with Rural Bank of Kibawe (Bukidnon), Inc, a rural bank duly organized and existing under the laws of the Republic of the Philippines with principal office at Sayre Highway, West Kibawe, kibawe, Bukidnon and with Certificate of Authority No. B1016 & Company Registration No. 91025 (the “Bank”).
The Bank offers various deposit products including savings and time deposits (collectively, the “Accounts”) in accordance with Bangko Sentral ng Pilipinas (BSP) regulations.
The Bank may also display and promote its deposit products through the Finbubu platform or mobile application (the “Platform” or “Finbubu”), owned and operated by Finbubu Limited, an independent technology platform operator through which the Bank's products and services are made accessible to clients.
Deposits are only accepted within bank premises or through authorized bank channels. The Platform serves only as an interface for information display, product inquiry, scheduling of appointments, and transaction reservations for customer convenience.
By using the Platform and availing of the Deposit Services, the client (“Client”) acknowledges that these Terms constitute a binding agreement between the Client( “Accountholder” or “ Depositor”) and the Bank.
The Bank offers the following deposit products:
(a) Savings Accounts – interest-bearing accounts for daily use and accumulation of savings.
(b) Time Deposits – fixed-term deposits earning higher interest rates, withdrawable only upon maturity unless otherwise permitted by the Bank under applicable conditions.
2.1 All account opening and maintenance shall be subject to the sole and absolute discretion of the Bank. The Bank may approve or reject any application for deposit accounts without assigning any reason. The Accountholder agrees that the opening and maintenance of any account are subject to full compliance with all applicable laws, regulations, and internal policies of the Bank, including but not limited to the Anti-Money Laundering Act (Republic Act No. 9160, as amended), the Bank Secrecy Law (Republic Act No. 1405), and other directives of the Bangko Sentral ng Pilipinas (BSP).
2.2 The Accountholder certifies that all information, data, and documents provided to the Bank—whether in physical or electronic form—are true, complete, accurate, and authentic, and may be relied upon by the Bank without need of further verification. The Bank is hereby authorized to verify such information with any government agency, credit bureau, financial institution, or any third party as may be necessary for Know-Your-Customer (KYC) and Customer Due Diligence (CDD) purposes, or for any other lawful or regulatory purpose.
2.3 By applying for and maintaining the Account, the Accountholder expressly waives the confidentiality of deposits and authorizes the Bank to access, obtain, or disclose relevant information to competent authorities or third parties as may be required by applicable laws or BSP regulations. Such waiver shall take effect from the date of account application and shall remain valid for as long as the Account remains open.
2.4 The Accountholder warrants that:
(a) It possesses full legal capacity and authority to open and maintain the Account and to deposit funds therein;
(b) All amounts deposited are owned by the Accountholder and derived from lawful sources;
(c) All signatories and representatives acting on its behalf have been duly authorized and empowered to perform all banking transactions with the Bank.
For juridical or corporate Accountholders, the Accountholder further warrants that all necessary corporate acts, board resolutions, and authorizations have been duly accomplished and remain valid and in force.
2.5 The Bank reserves the right, at its discretion, to place any account on hold, conduct further verification, or close the account without prior notice in case of suspected fraud, unlawful activity, non-compliance with legal requirements, or any other justifiable cause deemed necessary by the Bank. The Bank shall not be liable for any loss or damage arising from the exercise of such right.
2.6 If the Accountholder is, or subsequently becomes, a non-resident of the Philippines, all deposits into the Account must originate only from sources duly permitted under Philippine law and BSP regulations and shall be properly supported by documentation evidencing the lawful source of funds.
2.7 The Accountholder agrees to promptly notify the Bank in writing of any change in information, circumstance, or status which may affect the legality, validity, or operation of the Account, and to submit updated documents as may be required by the Bank from time to time.
3.1 The initial deposit required to open an Account shall be the amount as may be reasonably determined by the Bank. The Bank may change such requirement from time to time in accordance with applicable law and regulation.
3.2 All deposits and credits to an Account (collectively, “Deposits”), including the initial deposit, must be transacted by the Accountholder or its duly authorized representative using the Bank’s prescribed deposit form, channel or process (collectively, “Deposit Forms”). Deposit Forms may include in-branch slips, properly authenticated instructions initiated via the Bank’s Platform that are followed by in-branch confirmation, or other methods approved by the Bank. The Accountholder acknowledges and accepts that the Bank may refuse to act upon incomplete or improperly executed Deposit Forms.
3.3 Cash deposits made in the presence of Bank personnel will be credited to the Account after the Bank’s verification and count; the amount verified by the Bank shall be deemed the correct amount deposited. If the Bank, at its discretion, accepts a Deposit in the absence of the Accountholder or its representative, the Accountholder assumes sole responsibility for any shortage or overage subsequently discovered upon verification, and the Bank may adjust the deposit record accordingly. The Accountholder shall hold the Bank harmless for any discrepancy unless caused by the Bank’s gross negligence or willful misconduct.
3.4 The Bank may refuse certain non-cash deposit items, including but not limited to: second or multiple endorsed checks, stale or post-dated checks, drafts, treasury warrants, and other items the Bank reasonably deems unacceptable under clearing rules (“Non-Cash Items”).
3.5 Non-cash items deposited are subject to collection. Any credit given by the Bank in respect of Non-Cash Items shall be provisional and conditional upon actual receipt of cleared funds. The Bank shall not be liable for any withdrawal made by the Accountholder against provisional credit in respect of a dishonored item.
3.6 The Accountholder warrants the genuineness and correctness of all deposited Non-Cash Items and agrees to reimburse the Bank for any amounts credited in error, bank charges, and reasonable costs arising from dishonor, fraud, forgery, material alteration or other valid grounds for dishonor.
3.7 Funds shall be considered deposited only after verification, validation, and actual posting to the Depositor’s Account. The Bank shall not be liable for delays in crediting deposits caused by system downtime, clearing delays, or other causes beyond its control.
3.8 If a Deposit is received while the Bank’s systems are offline, the Account balance will be updated upon resumption of online operations. The Bank shall not be liable for any resulting delay, provided that the Bank acts in good faith and in a commercially reasonable manner to update records promptly.
3.9 The Accountholder acknowledges that scheduled maintenance or force majeure events may temporarily affect posting times and accepts that the Bank shall not be liable for such interruptions absent gross negligence or willful misconduct.
3.10 The Bank’s crediting of Deposits (whether cash, checks, or transfers) is effective upon the Ban’s book entry reflecting such Deposit and subject to applicable collection rules. For Non-Cash Items, credit is provisional until collection is final. Interest on credited balances shall be computed and posted in accordance with the Account Terms and the Bank’s published schedule of rates. For time deposits, interest computation and payout shall follow the time deposit terms agreed at placement.
3.11 The Accountholder hereby authorizes the Bank, without prior notice and at any time, to debit, combine, consolidate, transfer, or apply set-off any monies standing to the credit of the Account or other accounts of the Accountholder with the Bank (and, where applicable, with any member of the Bank’s group) in satisfaction of the Accountholder’s liabilities to the Bank, including but not limited to shortages, dishonored items, fees, charges, or other amounts owed. Such set-off rights shall be exercised in accordance with applicable law.
3.12 The Bank reserves the right to refuse any deposit, to place any Account on hold, or to suspend transactions where it reasonably suspects fraud, money laundering, sanctions exposure, or other unlawful activity, or where further verification is required. The Bank may also restrict access to funds subject to legal process or regulatory instruction. The Bank shall use commercially reasonable efforts to notify the Accountholder of any hold or refusal when permitted by law and practicable, except where disclosure is prohibited by law or regulatory order.
3.13 All withdrawals from the Account shall be made personally by the Accountholder or by a duly authorized representative upon presentation of the Accountholder’s written authority and the corresponding Passbook or other withdrawal instrument as may be required by the Bank. Only the signatures and authorizations appearing in the Bank’s official records shall be recognized and honored by the Bank for any withdrawal transaction. Any withdrawal made or transaction executed by a person submitting a withdrawal slip, instrument, or electronic instruction purporting to bear the genuine signature or valid authority of the Accountholder or its duly authorized signatory shall have the same legal effect as if made by the Accountholder personally, and the Bank shall be fully released and discharged from any and all liability arising therefrom.
3.14The Bank reserves the right to require advance notice for large withdrawals or withdrawals of time deposits prior to maturity, subject to applicable penalties or reduced interest as may be prescribed.
3.15 The Bank reserves the right, at its sole discretion, to require additional verification, identification, or documentation prior to processing any withdrawal to ensure compliance with the Anti-Money Laundering Act (AMLA), its implementing rules, and other Bangko Sentral ng Pilipinas (BSP) regulations.
4.1 Interest on interest-bearing Accounts shall be computed based on the Bank’s prevailing rates, subject to BSP rules and regulations. Any government-imposed tax or withholding on interest income shall be automatically deducted from the proceeds.
4.2 The Bank may impose service charges or maintenance fees in accordance with its published schedule of fees, available on the Platform and at all branches.
5.1 Time deposits are non-withdrawable until maturity. Premature withdrawal of time deposits shall be subject to penalties or reduced interest as prescribed by the Bank and BSP regulations.
5.2 Upon maturity of a time deposit account, if the Accountholder provides written or recorded instructions to roll over or renew the account, such renewal shall be effected at the prevailing interest rate at the time of roll-over and for the same or newly specified term.
If the Accountholder fails to provide renewal instructions, the Bank shall, at its sole discretion, have the right to either:
(a) terminate the account and issue or cause the issuance of a cashier’s order or manager’s check, or credit the proceeds to the Accountholder’s other account with the Bank; or
(b) automatically roll over the principal and accrued interest for the same maturity period at the prevailing rate applicable at the time of roll-over.
Pre-termination of any time deposit prior to maturity shall be subject to the Bank’s prior written consent and such penalties, charges, or deductions as the Bank may impose, including but not limited to handling fees, break-funding costs, and recovery of documentary stamp tax, as may be applicable.
The Bank reserves the right to require that any pre-termination request be effected only after at least three (3) banking days’ prior written notice to the Bank, whenever the Accountholder’s and/or the Bank’s interests so require.
6.1 The Platform may allow customers to schedule or request fund transfers; however, actual fund movement shall be only accepted within bank premises or through authorized bank channels..
6.2 The Bank may charge reasonable processing fees for such transactions as disclosed prior to execution.
7.1 The Bank shall keep all Depositor information confidential except as disclosure may be required under applicable laws, BSP regulations, or by lawful order of a competent authority.
7.2 The Depositor authorizes the Bank to process, store, and share personal data with its affiliates, service providers, or regulators strictly for legitimate banking, operational, and regulatory compliance purposes in accordance with the Data Privacy Act of 2012.
8.1 The Account may, at the Bank’s discretion and in accordance with applicable laws, regulations, and internal policies, be classified as dormant if it remains inactive for a period of two (2) years in accordance with applicable BSP regulations. Once classified as dormant, the Account shall be subject to dormancy maintenance fees or service charges.
8.2 The Accountholder may request the reactivation of a dormant Account subject to compliance with the Bank’s reactivation requirements, which may include the submission of updated identification, account verification documents, and any other supporting information as the Bank may deem necessary pursuant to its Know-Your-Customer (KYC) and Anti-Money Laundering (AML) policies.
8.3 If an Account remains dormant and unclaimed beyond the period prescribed under applicable law, the Bank shall report and remit the balance of such Account to the Bureau of the Treasury, in accordance with Republic Act No. 3936 (Unclaimed Balances Act, as amended) and relevant regulations of the Bangko Sentral ng Pilipinas (BSP). Upon such remittance, the Bank shall be fully discharged of any liability to the Accountholder for the amount so delivered.
9. Termination or Closure of Account
9.1 The Bank reserves the right, at its sole discretion and without need of prior notice, to suspend, restrict, or close the Account at any time and for any reason it may deem appropriate or necessary to protect its interests, ensure compliance with applicable laws and regulations, or manage operational, legal, reputational, or other risks. Such reasons may include, but are not limited to, the following:
(a) Any indication that the Account is fictitious, improperly handled, or used in connection with fraudulent, suspicious, or unlawful activities;
(b) Misrepresentation, falsification, or failure to provide accurate or updated information;
(c) Breach of these Terms or other agreements with the Bank;
(d) Failure to maintain sufficient balance to cover charges and applicable fees;
(e) Any conduct or transaction that, in the Bank’s judgment, may expose it to potential loss, regulatory issue, or reputational harm.
9.2 The Bank shall not be obliged to disclose the reason for the closure of the Account and shall bear no liability for any damages or losses that may arise therefrom. The Accountholder shall hold the Bank free and harmless from any and all claims or liabilities in connection with such closure.
9.3 Upon closure, any outstanding balance shall, after deduction of lawful charges, taxes, and obligations due to the Bank, be returned to the Accountholder through such mode of payment as the Bank may determine. It shall be the sole responsibility of the Accountholder to notify its payees, correspondents, or counterparties of the Account’s closure.
9.4 The Bank may, as required by law or regulation, report the closure of the Account and the reasons therefor to the Bankers Association of the Philippines (BAP), Credit Information Corporation (CIC), the Bangko Sentral ng Pilipinas (BSP), or other authorized monitoring entities.
9.5 The provisions of these Terms which by their nature survive termination or closure — including warranties, consents, indemnification, liability, and ownership — shall continue to remain in full force and effect notwithstanding the closure of the Account.
10. Philippine Deposit Insurance Corporation (“PDIC”) Rules
The Account shall be subject to applicable PDIC laws, rules and regulations including the insured value up to maximum amount as may be mandated by PDIC or by law. Effective 15 March 2025, the applicable Accounts are insured by the PDIC up to P1 Million per depositor. The rules of the PDIC, Charter of the PDIC, and such other appropriate regulations issued by PDIC shall form part of the Account Terms.
11. Force Majeure
11.1 The Bank shall not be held liable for any delay, interruption, failure, or inability to perform any of its obligations under these Terms, or for any loss or damage the Client may suffer, to the extent that such delay, interruption, failure, or inability is caused, directly or indirectly, by a Force Majeure Event.
11.2 For purposes of this clause, a “Force Majeure Event” shall include, but not be limited to, acts of God, natural disasters, floods, typhoons, earthquakes, fires, epidemics or pandemics, wars, civil disturbances, insurrections, rebellions, acts of terrorism, strikes or labor disputes, acts or omissions of government authorities, changes in law or regulation, acts of third parties, telecommunications or Internet service interruptions, system or power failures, cyberattacks, or any other cause beyond the reasonable control of the Bank.
11.3 In the event of a Force Majeure Event, the Bank shall use commercially reasonable efforts to mitigate the impact and resume normal operations as soon as practicable. However, the Client acknowledge that certain interruptions or delays may be unavoidable, and the Client agree that the Bank shall have no obligation to provide compensation or damages for any failure or delay in performance resulting therefrom.
11.4 The suspension or delay of performance by reason of a Force Majeure Event shall not constitute a breach of these Terms and shall extend the period for performance by such time as may be reasonably necessary under the circumstances.
12. Notices and Amendments
12.1 Notices to the Client may be sent through electronic mail (“email”) , SMS, postal mail, posting on the Platform or other reasonable means and shall be deemed received upon transmission or publication. Such publication or notice shall constitute sufficient communication and shall be binding on the Client without need of further written consent.
12.2 The Bank may amend these Terms at any time upon prior notice through public posting or such means as may be deemed appropriate. Continued use of the Account constitutes acceptance of such amendments.
12.3 The Accountholder must notify the Bank in writing of any change information and/or circumstances of the Accountholder (i.e. residential address, email address, telephone number, marital status). The Bank, its officers and employees shall be held free from any harm for damages, claims, and demands from the failure of the Accountholder to do so.
12.4 All communications, including the service of legal process, sent by electronic mail or by post and left at the last address registered with the Bank shall be deemed to have been duly delivered to and received by the Accountholder. The Bank shall be free and harmless from any liability should a third party open the mail or access the electronic mail address provided by the Accountholder to the Bank.
13.Customer Assistance
For any complaint or concern, the Client may visit any branch of the Bank or contact the Bank through the following:
Hotline: +63 9608756462
Email Address:service@finbubu.com
Alternatively, the Client may visit the website at https://finbubu.com/ to obtain more information.
14. Effectivity
14.1 For Accounts opened prior to the effectivity of these Terms, the revised Terms and Conditions shall become effective on the sixty-first (61st) calendar day following the notice or publication to the Accountholder, unless:
(a) otherwise directed by law, regulation, or regulatory authority to take effect immediately;
(b) immediate effectivity is determined by the Bank to be more beneficial or protective to the Accountholder; or
(c) the Accountholder expressly acknowledges or consents to the immediate application of the revised Terms.
14.2 For Accounts opened on or after the effectivity date of these Terms, the same shall take effect immediately upon the Accountholder’s signing or digital acceptance of these Terms, and shall continue to govern the Account for as long as it remains open with the Bank.
15.2 Nothing in this clause shall limit the Client's right to lodge a complaint with the Bangko Sentral ng Pilipinas (BSP) or any other relevant regulatory authority in accordance with applicable law. The Bank may seek injunctive or other urgent equitable relief from any court of competent jurisdiction to protect its rights or interests without this being deemed a waiver of the foregoing exclusive jurisdiction.
Acceptance:
I, for myself or for the entity I represent, have read and understood these Terms and Conditions for Deposit Products, as well as its Appendices, and hereby agree on and consent to all matters stated therein.