1. The CBC Drive Your Dream Raffle Promo will run from August 1, 2024 to December 31, 2024
2. Both new and existing Chinabank individual or corporate accounts with the following deposit accounts are eligible for the Promo.
a) Young Savers Account
b) Current Account w/ Auto-Transfer
c) Savings Account w/ Auto-Transfer
d) ChinaCheck Plus w/o Passbook
e) ChinaCheck Plus w/ Passbook
f) Regular Savings (Passbook Savings and ATM Savings)
g) Online Kababayan Savings (OKS) Account
3. For individual accounts with multiple accountholders, the raffle entries earned will be assigned to the client that is tagged as the “Main Accountholder” in the bank’s system. For corporate accounts, the raffle entries will be assigned to the corporate entity.
ADB Computation For Earning of Raffle Entries
Average Daily Balance or ADB is calculated by summing the daily end-of-day balances in an account for a specified period and then dividing by the number of days in that period. For example, the formula for computing the Monthly ADB is as follows:
Monthly ADB Computation Sample
Existing Chinabank Accounts
4. Every end of month within the Promo Period, eligible accounts opened before the Promo Period are entitled to earn one (1) raffle entry for every increment of Php 5,000 in ADB for the month versus the ADB for the month of July 2024.
Illustration
New Chinabank Accounts
5. Newly opened eligible accounts within the Promo Period are eligible to earn two (2) raffle entries for every Php 5,000 ADB on the account opening month. For the succeeding months after account opening, every end of month within the Promo Period, the eligible account is entitled to earn one (1) raffle entry for every Php 5,000 increment in ADB for the month versus the ADB on the account opening month. To qualify, the funds deposited to open new accounts must be fresh funds, meaning funds should not be sourced from existing accounts within Chinabank.
Illustration
6. Raffle entries earned by the eligible account for the month are excluded from other monthly draws.
7. For accounts opened prior to Promo Period, all raffle entries earned within the Promo Period shall be eligible for the grand draw/prize provided the ADB for the month of December 2024 of the deposit account does not go below the ADB for the month of July 2024.
8. For newly opened accounts within the Promo Period, all raffle entries earned within the Promo Period shall be eligible for the grand draw/prize provided the ADB for the month of December 2024 of the deposit account of the client does not go below the ADB on the month the account is opened.
9. A deposit account is considered in good standing if it is:
- An active account.
- Passes the due diligence policies of Chinabank.
- Not under investigation due to suspected fraudulent and/or suspicious activities.
- Has not otherwise violated any of the general terms and conditions governing deposit accounts.
- To be eligible to win in the monthly and grand raffle promo, account holders must also ensure that none of their other accounts or financial obligations with Chinabank, including but not limited to credit card accounts, loan accounts, or any other banking products, are past due for more than ninety (90) days with reference to their due dates.
10. Once the account has been closed, all raffle entries earned by the closed account are automatically forfeited.
11. Determination of winners will be drawn via an electronic raffle system with the list of eligible electronic raffle entries.
12. The monthly raffle draws will be held on-site at the 3/F Chinabank Building, Paseo De Roxas corner Villar Street, Makati City and/or via Microsoft Teams in the presence of a Department of Trade and Industry (DTI) representative on every raffle draw dates.
Monthly Raffle Draw
13. A client can only win in one monthly raffle draw and is no longer eligible for any other monthly raffle draw. All winners of the monthly raffle draw are eligible to join the grand raffle draw in January 2025 and satisfies Item 7 (for accounts opened prior to Promo Period or Item 8 (for accounts opened with Promo Period)
Grand Raffle Draw
14. Winners will be notified within ten (10) business days after the raffle draw via registered mail, SMS, email, or a call from the Branch Manager at their Branch of Account. Winners have sixty (60) calendar days from receiving the notification to claim their prize. Unclaimed prizes after this period will be forfeited in favor of Chinabank, subject to prior approval from DTI.
15. If the winning account is an individual account, the winner must present either registered mail or a printout of the winning notification, received via SMS or email, from Chinabank upon claiming their prize. Additionally, the winner is required to show one valid government-issued ID (such as a Driver’s License, SSS ID, Passport, or TIN ID).
16. If the winning account is a corporate account, the claimant must present a notarized Board Resolution certifying their authorization to claim and receive the prize. Additionally, the claimant is required to provide the registered mail or a printout of the winning notification (received via SMS or Email) from Chinabank. Claimant must also show one valid government-issued ID (such as a Driver’s License, SSS ID, Passport, or TIN ID).
17. A winning individual account may authorize a representative to claim on behalf of the accountholder. Upon claiming, the representative must present an authorization letter from the winner along with the winner's registered mail or a printout of the winning notification, received via SMS or email. Additionally, photocopies of one valid government-issued ID for both the winner and the representative (such as a Driver’s License, SSS ID, Passport, or TIN ID) are required, and the representative must also show the actual IDs corresponding to these photocopies.
18. Winners must sign the Quit Claim Form upon claiming the Prize.
Monthly Raffle Prizes
Grand Raffle Prize
19. The prizes are non-transferable.
20. The prize tax, as applicable, 3-year LTO registration fees, and 1-year car insurance shall be for the account of Chinabank. Other expenses to be incurred shall be in the account of the Grand Prize winner.
21. Chinabank shall provide the prize once the winner presents the needed documents as stipulated in Item 16 for Individual Clients, 17 for Corporate Clients or 18 for Authorized Representatives.
22. In case of dispute related to the promo, the Bank’s decision, in concurrence with the DTI, will be deemed final and non-negotiable. To formally process the dispute, client must contact Chinabank Customer Service Hotline at (632) 888-55-888 or email online@chinabank.ph to properly log the concern. Chinabank shall revert within ten (10) banking days through email regarding the concern of the client.
23. Chinabank, with concurrence of DTI, reserves the right to terminate, amend, or add to any of these terms and conditions from time to time with at least five (5) calendar days prior notice to the customers before the new terms and conditions take effect.
24. Chinabank reserves the right to disqualify any participant or winner if fraudulent or suspicious activities are detected, with clear consequences for such actions.
25. This program shall be subject to periodic review to ensure compliance with the Bank’s policies and procedures, as well as with BSP rules and regulations and applicable laws.
26. Employees of Chinabank and its subsidiaries, including their relatives of up to second degree of consanguinity and affinity, are disqualified from joining the program.
27. By participating in this Promo, eligible accountholders agree to the following:
Client authorizes Chinabank to disclose accountholder personal information, including that of corporate clients, to third-party contractors or agents for the purpose only of implementing the Promo. This includes, but is not limited to, processing raffle draws, notifying accountholders of earned raffle entries via electronic channels, and awarding prizes
a) Understanding and Agreement: Client understands and agrees to the use of their personal data in relation to this raffle, is in accordance with the China Banking Corporation Data Privacy Policy. To know more about how the Bank uses and protects personal data, you may visit: https://www.chinabank.ph/china-bank-privacy-policy
b) Authorization for Information Disclosure: Client understands and agrees that Chinabank is authorized to share accountholder information, including corporate client details, with the DTI, relevant government agencies, and third-party contractors or agents for purposes related only to implementing the Promo. This includes, but is not limited to, processing raffle draws, notifying accountholders of earned raffle entries via electronic channels, and awarding of prizes.
c) Verification Rights: Chinabank reserves the right to verify the client’s personal information for raffle administration. Clients failing verification to Chinabank’s satisfaction may be disqualified from the raffle, subject to prior DTI approval.
d) Personal Information Collection: Accountholders permit Chinabank to collect personal information, including names, mobile numbers, and registered email addresses. Compliant with applicable regulations, Chinabank may use and disclose winners' personal information, such as names, photographs, and videos for marketing this program. Winners consent to waive any claims to royalties or rights for such use on TV, radio, the Chinabank website, social media, and press releases
e) Accountholders who wish to opt out of the Promo must explicitly communicate this by submitting a signed opt-out request using the provided pro-forma letter template. This request can be submitted at any Chinabank branch or sent to the bank’s customer contact center at online@chinabank.ph. The decision to opt out is irrevocable.
DTI Fair Trade Permit No. FTEB-199102 Series of 2024