konek2CARD FEES and CHARGES

CARD BANK, INC., A MICROFINANCE ORIENTED RURAL BANK

TABLE OF FEES ON ELECTRONIC PAYMENTS*

As of October 2, 2020

Account Type On-us PESONet ACH <INSTAPAY ACH>
Fees charged to: Purposed of fees charged to recipient, if any Recipient’s account to be credited not later than Fees charged to: Purposed of fees charged to recipient, if any Recipient’s account to be credited not later than Fees charged to: Purposed of fees charged to recipient, if any Recipient’s account to be credited not later than
Sender Recipient Sender Recipient Sender Recipient
1 Pledge Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time
2 Pledge Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time
3 Matapat Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time
4 Matapat Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time
5 Kayang Kaya Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time
6 Kayang Kaya Account 0.00 0.00 Free of Charge Real time N/A N/A N/A N/A 0.00 0.00 Waived* Real time

Guide to filling out the form:

Account Type – This would refer to the type of account/product offered by the BSFI. Example: savings account, current account, gold, silver, etc.

Fees charged to SENDER – This refers to the amount that a client shall pay for transfering funds either within the institution or to another institution via a specific ACH (ex. PESONet) given a specific type of account/product.

Fees charged to RECIPIENT – This refers to the amount that a client shall pay upon receipt of funds either from an account within the institution or from another institution via a specific ACH (ex. PESONet) given a specific type of account/product.

Purpose of fee/s charged to recipient – This shall indicate the reason why a client is being charged upon receipt of funds (ex. text alert). Note that under BSP Circular 980, “the recipient shall not pay for electronic crediting to recipient’s account and the recipient shall receive the amount in full.”

Recipient’s account to be credited not later than – This shall indicate the max. no. of hours/minutes/seconds when the recipient’s account will be credited after sending of payment instruction. In the case of batched transactions, the latest time and day when the recipient’s account would be credited shall be indicated. Example: 2 minutes; 2 hours; In the case of batch: 7pm same day, 12 noon next banking day.

Note: The table may be further extended as new ACHs (ex.InstaPay, Card Payments, etc.) are created.