Escolar Documentos
Profissional Documentos
Cultura Documentos
Dear Depositor,
Welcome to PSSLAI. Thank you for giving us the opportunity to serve you
through our Cash Advance Storage Account (CASA) product. This passbook is given to
you upon opening of the account. Please present this to the Teller when transacting
business. By accepting this passbook and affixing your signature on your signature
cards, you confirm that you have read, understood, and voluntarily gave your
unconditional assent to be bound by, the following Terms and Conditions governing
your CASA.
OPENING OF ACCOUNTS
The CASA may be opened for a minimum deposit of One Hundred Pesos (PhP100.00).
Upon opening of the account, the depositor will be furnished this passbook which
should be presented by the member-depositor when making deposits and
withdrawals. Entries in the passbook are not valid unless countersigned by the
personnel–in–charge across the transaction entry with the corresponding
receipt/reference number. Under no circumstances should a member-depositor make
entries in the passbook, either electronically or in handwriting. The entries in the
passbook shall bind the depositor unless a request or notice for correction of the
entries therein is made by the depositor before leaving the premises of the Association
on the same day that the entry is made. The Association reserves the right to refuse
any request for correction not made in strict observance of the foregoing requirements.
DEPOSITS
WITHDRAWAL
MINIMUM BALANCE
INTEREST
Deposits shall earn interest at such rates as may be set by the Board of Trustees,
subject to existing laws & regulations. Interest is credited quarterly on March 31st,
June 30th, September 30th and December 31st at the rate prescribed by the
Association. No interest will be paid on accounts with available balance less than the
minimum amount required. If an account is closed before the end of the quarter,
interest earned from the last credit date shall be forfeited. In case of death of any
Depositor, the legal heirs shall promptly notify the Association in writing of such fact of
death. Any notice made verbally or through publication in the obituary shall not be
considered as notice to the Association regarding such depositor’s death. Upon receipt
by the Association of the notice of death together with the complete set of documents
required by the Association, the credit balance of any deposit/s in the name of the
depositor will be paid to his legal heirs or such other persons legally entitled thereto. In
cases wherein the depositor has signed a survivorship agreement as stated in the joint
account form with his/her co-depositor, the Association shall honor the agreement
before applying the laws of succession in accordance with the Civil Code of the
Philippines.
PASSBOOK OWNERSHIP
This passbook is not transferable. Possession of this passbook shall give the
presumption of ownership in favor of the possessor and any payment made by the
Association upon the production of this passbook shall have the same effect as if
made to the depositor personally.
LOST PASSBOOK
Notice in writing should be given to the Association at once if this passbook is lost,
mislaid, or stolen. The Association holds itself free from any loss which may occur
prior to the receipt of such notice, and the depositor hereby holds, renders and saves
the Association free and harmless from any and all losses, liabilities, claims, damages,
choice of action, taxes, expenses, attorney’s fees and the like which the depositor may
sustain or suffer prior to the receipt of such notice. Any lost passbook must be
returned/ surrendered to the Association when found. The Association, at its option,
may cause a substitute passbook to be issued to the Depositor/s on such terms or
indemnity to the Association as it may deem proper, provided that the original
passbook shall be voided. The sum of Fifty Pesos (PhP50.00) will be collected for the
issuance of a replacement passbook or any amount the Association may require to
cover the cost of a new passbook.
CLOSURE OF ACCOUNT
Whenever warranted, the Association may, at any time, return to the depositor the
whole, or any part, of this deposit together with interest due upon the same. The
Depositor will be notified either personally or by mail of the Association’s intention to
close the account and the accrual of interest will cease from date of such notification.
The Association may close an account any time and without prior notice to the
depositor, if the deposit balance becomes zero for any cause whatsoever including the
imposition of service charges, withdrawal by the depositor, or for claims and demands
in connection with the closure of the account. Account closed within ninety (90) days
from the date of opening will be charged Fifty Pesos (PhP50.00) processing fee. This
passbook must be surrendered upon full withdrawal, closure or termination of
membership in the Association.
The Member shall promptly advise the Association in writing of any changes in the
Member’s personal information.
DORMANT ACCOUNTS
All transactions in this account shall be governed by these basic rules, applicable Laws
of the Republic of the Philippines, as well as the rules and regulations of PSSLAI and
the Bangko Sentral ng Pilipinas.
AMENDMENTS
These Terms and Conditions may be amended or changed at any time at the
Association’s discretion after posting the corresponding notice for a period of ten (10)
days at the premises of the Association. In the event of any amendment or additional
regulation in the Laws of the Republic of the Philippines or the Bangko Sentral ng
Pilipinas, the Association reserves the right to transfer the Depositor’s deposit balance
to a product with similar features and Terms and Conditions.
Thank you for giving us the privilege to serve you. We assure you that we will do
our best to live up to your trust and confidence.
Sincerely yours,
PSSLAI