Maya Easy Credit

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 Easy Credit. By activating and applying for Maya Easy 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 Easy 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 Easy 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 Easy 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 Easy Credit account from Maya Bank and/or has availed of or used Maya Easy 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 Easy 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 Easy 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 Easy 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 Easy 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 Easy Credit.

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

2.18 Service Fee – refers to the fee charged upon using Maya Easy 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 Easy Credit

3.1 At your own discretion, you applied for Maya Easy Credit through the Maya App. You warrant that all the information you provided in your Maya Easy 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 Easy 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 Easy 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 Easy 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 Easy 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 Easy 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 Easy
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 Easy 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 Easy 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 Easy 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 Easy Credit

4.1 Maya Easy 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 Easy 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 Easy 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 Easy Credit and/or the transaction made using Maya Easy 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 Easy Credit, as evidenced by transaction records of the Bank indicating successful disbursement of funds from Maya Easy 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 Easy 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 Easy 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 Easy 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. Similarly, biometrics authentication has been made available to you as a feature for your convenience. The activation of which is subject solely to your sound discretion and consent. If you choose to enable biometrics authentication, any transactions authorized by you through the use of your biometrics shall be solely to your account. You agree to hold Maya Bank free and harmless in case of unauthorized access to your account or breach of your account or personal data or any financial losses you may have suffered as a result of but not limited to the misuse of the biometrics feature.

6.3 In case of loss or theft of any Maya Bank account due to a lost/stolen device or SIM, or theft due to fraud and/or scam, you agree to immediately inform Maya Bank of such loss or theft via our customer support hotline channel. Blocking of the account shall be made after Maya has conducted security verification and the submission of documentation, as applicable. All transactions made through your Maya Bank account prior to the report of loss or theft shall continue to be your liability. After you report the incident of lost or stolen device or fraud, a request for reactivation of the account shall require the presentation of documents, as may be requested by Maya Bank.

6.4 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 Easy Credit through a Partner Channel, you agree to allow Maya Bank to provide details of your Maya Easy 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 Easy Credit;
• Use of Maya Easy 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 Easy 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 Easy 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 Easy 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 Easy Credit account as well as determine, modify, change, increase or decrease your Maya Easy 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 Easy 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