These policies relate to an ATM savings account for which a savings passbook and a Debit/ ATM card are issued, thus giving members combined privileges to access cash in 24/7 operations, locally and internationally, via Bancnet, ExpressNet, and VISA Network. It is also a savings account that can provide facilities like fund transfer, remittances, and hassle-free settlement of bills or cashless shopping and dining through BancNet’s point-of-sale facility or VISA terminal.
1. For CORPORATION and INCORPORATED ENTITIES who would like to avail of ATM-Power Savings with PAYROLL ARRANGEMENTS, the account shall be maintained in the name of the corporation to be called the MOTHER ACCOUNT. Additional basic documentations required prior to opening of a new account are as follows:
1.1 Copy of Articles of Inc.;1.2 Copy of By-laws;1.3 Certificates of Registration with SEC of Nos. 1.1 & 1.2 above;1.4 Board Resolution authorizing the opening of the account and designating the person/s who are authorized to sign for and in behalf of the corporation/entity; and1. 5 Certification of the Corporate Secretary as to the officers for the current year.
2. For INDIVIDUAL ACCOUNT of Regular and Associate Members, the MINIMUM DEPOSIT REQUIREMENT and MAINTAINING BALANCE for opening the account shall be at least Five Hundred Pesos (P500.00) for which a POWER Savings passbook shall be issued to member. For members applying for loans, the required minimum deposit and maintain balance may be deducted from the loan proceeds.
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