, or public holiday, in which banks are generally open in Manila and Pasig.
“POS” refers to Point-Of-Sale.
“You”, “your”, or “yours” means any person applying for, owning, or holding an Account, or installing, registering, or utilizing the Application, or applying for or holding a Card, or applying for, availing, or utilizing a Service.
We have the discretion from time to time to make the Application available to you, determine the scope of the Application, set, or change the daily cut-off times, modify, restrict, withdraw, cancel, suspend, or discontinue any or all of the services without notice or responsibility to you and without giving any reason, but with strict compliance of the rules and regulations set by the Bangko Sentral ng Pilipinas. By using the Application after any modification or change has been effected, you have agreed to any such modification or change.
Subject to your compliance with these Terms and Conditions, Tonik grants you the non-exclusive, non-transferable, royalty-free privilege to download the Application (if necessary, from an authorized third party) and install it on an end device in your possession and control.
The Application contains software that has been licensed by third parties. You acknowledge and accept the rights of Tonik and of the third parties, if applicable, to the Application.
Tonik provides no guarantee that the Application will work without errors on your end device and network operator.
You authorize Tonik to use any information processed in connection with the use of the Application (e.g. personal data, geographic information, device information) in the context and for the purpose of providing the Service and the secure use of the Application.
The use of the Application, among others, due to the download, installation or use of an application and the associated reference points with third parties (for example, distribution platform providers, network providers, device manufacturer) involves certain disclosures and risks, including: (i) disclosure of your personal information or other information and the existence of your banking relationship with the Bank with third parties, whereby the banking secrecy cannot be ensured anymore in this respect; (ii) system outages, security-related restrictions and unauthorized removal of use restrictions on the end device, and other disturbances which may make use impossible; and (iii) misuse due to manipulation by malware or unauthorized use, including in the event the end device is lost. You are aware of and assumes these risks in connection with the Application.
Tonik is entitled to block or disable the use of the Application on end devices if the security features devised by the operating system or manufacturer of such device have been modified at any time (for example, a device that has been "jailbroken").
Tonik accordingly does not guarantee the functioning and operation of the Application on end devices which have been modified as provided in the previous clause or on older end devices that no longer meet the technical requirements for the use of the Application.
Tonik further reserves the right to modify the functionality of Application at any time without prior notice or to entirely discontinue the offer of the Application.
Tonik assumes no liability for losses or damages resulting from the installation or misuse of the Application, provided that the Bank has exercised the appropriate standard of care and diligence customary in the business.
While the Application is made available 24-hours a day to you, there is no warranty that the services will be available at all times due to daily cut-off times, scheduled or unscheduled maintenance and/or computer, telecommunication, electrical or network failure or any other reasons beyond our control. Tonik shall not be made liable for loss or damage (including but not limited to those imposed by third parties) due to the foregoing or in relation to transactions or services done through our application or any failure to complete a transaction. The Application, including all content, features and any related services are provided by Tonik on an "As Is" and "As Available" basis at your risk and without any representations or warranties.
Except as specified in these Terms and Conditions, all warranties, conditions or terms (whether express, implied, statutory, or otherwise) including without limitation relating to quality, merchantability, fitness for purpose, or uninterrupted, error free access are expressly excluded for Tonik to the fullest extent permitted by law.
No representation or warranty, express or implied, can be given as to the accuracy or completeness of the information provided in Application.
You acknowledge and accept the risks that may arise from Internet transactions conducted via open systems accessible to anyone and acknowledges that despite the encryption of data, the connection from your personal computer or electronic end devices to Tonik over the Internet may be observable. Tonik may also use servers and other computer hardware situated in any jurisdiction worldwide for the provision of any Account, Application, Card, or Service.
Tonik excludes any and all liability for loss or damage caused by transmission errors, technical faults, breakdowns, business interruptions or illegal interventions into transmission networks, your IT systems/computers or of any third party (including systems in the public domain).
You agree that Tonik may, at its sole discretion, use digital signatures to sign any documents made available on the Application and you will accept such digitally signed documents as valid documents issued by Tonik.
Tonik reserves the right to enable a digital signature feature for your use. Where Tonik exercises such discretion, you will be informed of the minimum requirements in connection with such use and only if you are able to fulfill the Bank's requirements may you avail themselves of this feature. Tonik may nevertheless at its sole discretion decide not to permit you to use digital signatures in your dealing with Tonik.
Tonik may use authentication or verification technologies, services or measures as the Bank deems desirable or appropriate. There can be no assurance that such authentication technologies, services, or measures will be completely secure, adequate, or successful to prevent unauthorized access to or use of the Application, hacking or identity theft.
Agree to the variation or cancellation of any prior instruction, subject to required conditions. When the conditions are met, we will endeavor to stop a transaction when instructed to. However, we will not be responsible for any loss you may incur for our failure to cancel the transaction.
an instruction will be completely secure and we shall not be liable for any security breach unless such breach was caused by our willful misconduct or gross negligence.
You must notify us through an acceptable method specified by us if there is any change in your particulars or contact details (e.g. Mobile Phone Number, Postal Address, Marital Status, etc.). Tonik, its officers and employees shall be held free from any harm for damages, claims and demands from your failure to do so.
Notices, documents, and communications will be sent via the Application (including through push notifications sent to your end device whether or not you are logged into the Application, or notifications feed in the Application), or other methods we deem suitable.
You shall take all steps necessary to allow the Application to send push notifications to your end device and send notifications via the Application. You acknowledge that if you do not take such steps, you may not receive such notifications and will indemnify Tonik for any loss or damage resulted from not receiving said notifications.
You authorize Tonik to obtain and verify the information collected from you through government agencies or third parties including other banks, financial institutions, and credit bureaus, for any purpose, including for verification of your card details from other banks.
Upon successful Account opening, you agree that you may be asked to make an initial deposit in an amount determined by Tonik prior to the start of the Account opening process.
The use of the Application or Card, including transactions you initiate, process, and conclude, shall only be for lawful purposes.
if you do not comply with the KYC or due diligence requirements.
Tonik Account processed under “Fast Onboarding” (i.e. no ID provided during onboarding/registration) will be given access to a virtual debit card and will have a 12-month validity period to complete and submit the documentary requirements. Your Tonik Account will be allowed to have 2 Solo Stashes and to contribute in Group Stashes as a member. Time Deposits will not be allowed. The Tonik Account and the 2 Solo Stashes will have a maximum combined balance of PHP 50,000 with Tonik Account’s total aggregate credit of PHP 100,000 in a year. Should your Tonik Account reach the total aggregate credit, your Tonik Account will not be able to receive any funds from any source (such as but not limited to account top-up, withdrawing from any of the Stashes to your Tonik Account, receiving money from other people via transfers from their Tonik Accounts or via other banks) and thus you will be required to upload any of the government ID accepted by Tonik and to submit the required documentary requirements. You may close your Accounts if you cannot fulfil the documentary requirements.
After uploading your government ID and submitting the required documentary requirements, and after our further verification of such documents and, if Tonik deems it necessary, the submission and verification of additional KYC documents, the 12-month validity period, total balance limit and total annual aggregate credit limit may be removed. You will then be eligible for a physical ATM or Debit Card, be entitled to upgrade your Tonik Account to 5 Solo or Group Stashes, and 5 Time Deposits.
Tonik has the right to request for additional actions or documents from the customer such as a call to your registered valid Philippine mobile number, live video call verification, proof of income, proof of address, source of fund certification and other relevant actions or documents for due diligence and “Know-Your-Customer” (KYC) requirements as be prescribed by us and the regulator. You understand that you have the responsibility to provide the same.
You shall also provide Tonik with such information and documents as