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  1. The Young Saver Rewards Promo is open to all Young Savers accountholder (“CLIENT”) whose accounts are active. For In-Trust-For (ITF) accounts, only the Young Savers primary account holder will be allowed to participate and be the main recipient of the GIFT CODE.  Joint Account, on the other hand, are not allowed to participate in the promo. 
     
  2. Promo period is from July 1, 2020 to December 31, 2020. Deadline to redeem the GIFT CODE is until January 15, 2022. 
     
  3. The CLIENT will be entitled to an electronic voucher called GIFT CODE. This will be sent to the CLIENT via Short Message Service (SMS) at the end of every quarter. This is provided that the CLIENT fulfils the following: 
    1. CLIENT shall sign the Young Saver Rewards Promo form containing the terms and conditions of the promo including a data privacy consent allowing the BANK to share their mobile number to a 3rd party service provider tasked to send the GIFT CODE via SMS.
    2. The CLIENT must have a valid and updated mobile number for purposes of receiving the SMS containing the GIFT CODE. 
    3. Perform at least one (1) deposit transaction every quarter using the Young Savers account in any China Bank Branches or electronic channel (ATM, China Bank Online, and Mobile Banking).
    4. At the end of the quarter, maintain a minimum 3-months Average Daily Balance (ADB) amounting to Php 100,000.00. 
       
  4. The CLIENT may use the GIFT CODE to redeem an SM GIFT PASS. The GIFT CODE can be presented at any The SM Store Bills Payment counter to claim the actual SM GIFT PASS.  
     
  5. The amount of the SM GIFT PASS shall be based on the ADB of the Young Savers account opened by the CLIENT. Below is the ADB and the corresponding amount of the SM GIFT PASS that the CLIENT is entitled to claim:
    ADB for 3-Months SM Gift Pass Amount
    P100,000 to <P500,000 Php 100.00 
    P500,000 to <P1,000,000 Php 500.00 
    P1,000,000 and above Php 1,000.00

     
    The amount of the SM GIFT PASS is likewise indicated in the SMS containing the GIFT CODE. 
     
  6. ADB shall be computed on a per Young Savers account basis. Aggregation of deposits from multiple Young Savers accounts to get a higher ADB and GIFT CODE value is not allowed. 
     
  7. The 3-month ADB shall be computed at the end of each quarter. If the CLIENT opens a Young Savers account at any date within the quarter, the 3-month ADB will be computed from the first day to the last day of the quarter. For instance:

    Account Opening Date: August 15, 2020
    3rd day of the Quarter:  July 1, 2020
    ADB Computation Coverage: July 1, 2020 to September 30, 2020
     
    Below are the dates coverage for computing the 3-months ADB:

    Quarter Dates Covered
    3 July 1, 2020 – September 30, 2020
    4 October 1, 2020 – December 31, 2020

     
  8. The GIFT CODE will be sent to the CLIENT through SMS fifteen (15) business days after the end of each quarter. 
     
  9. The Young Savers account of the qualified CLIENT must be active and in good account standing during the promo period until the time of the sending of the SMS unique link, otherwise, the CLIENT will be disqualified and the value of the GIFT CODE shall be forfeited in favor of the BANK. 
     
  10. CLIENTs in good account standing are those whose accounts that passes eligibility and due diligence policy of the BANK, or not under investigation due to suspected fraudulent and/or suspicious activities, and those who have not otherwise, violated any of the General Terms and Conditions governing deposit account. 
     
  11. The qualified CLIENT will be sent an SMS with the GIFT CODE and a link to see The SM Stores where they can be used. The GIFT CODE can be presented at any The SM Store Bills Payment counter to claim the actual SM GIFT PASS. 
     
  12. The GIFT CODE will be governed by the following validity and terms of usage: 
    1. The GIFT CODE is valid for one (1) year from the date the SMS is sent to the CLIENT or before the deadline to redeem the GIFT CODE; whichever comes first. The expiry date of the GIFT CODE can be found in the SMS. 
    2. Each GIFT CODE is valid for one-time use only.  If the total value of the GIFT CODE is not used up for a transaction, no cash change will be given by the partner merchant or China Bank.
    3. Prior to its use, the GIFT CODE must be presented by the CLIENT to the The SM Store for validation. The GIFT CODE must not have been previously used or expired upon presentation for use.
    4. Once the GIFT CODE has been exchange for an SM GIFT PASS, the Terms and Conditions on acceptance and usage of an SM GIFT PASS as stipulated by The SM Store shall apply.
    5. GIFT CODE may be used one at a time or all at once at The SM Store when claiming the SM GIFT PASS. Partial use of the value of the GIFT CODE is not allowed.
    6. For any additional payment to complete the purchase after application of the value of the GIFT CODE, the remaining amount must be paid by the CLIENT.
    7. The GIFT CODE cannot be converted to cash and may not be valid for use in conjunction with certain promotional events or program of the participating merchant partner and other discounts including those provided under Expanded Senior Citizen Act of 2010 (senior citizen discount) and Magna Carta for Persons with Disability (PWD discount)
    8. The GIFT CODE may not be exchanged with any other gift items or products not included in merchant partner’s list of allowed gift items or products covered in this promo.
    9. The use of the GIFT CODE shall be the sole responsibility of the CLIENT. In the event the GIFT CODE is used to redeem gift items from any merchant partners; either by the CLIENT or a 3rd party; the GIFT CODE is considered claimed and cannot be used to redeem any future gift items.
    10. If available, service warranties or support services over claimed gift items by the CLIENT shall be the sole responsibility of the merchant partners. The BANK is not liable or responsible of any defects or malfunctioned gift items claimed by the CLIENT. 
       
  13. At the time the BANK will send the GIFT CODE to the CLIENT through SMS, the BANK will use the mobile number registered by the CLIENT. Once the GIFT CODE is sent to the mobile number of the CLIENT, the BANK will no longer be in any obligation to send the GIFT CODE to another new mobile number of the CLIENT.
     
  14. During the program period, the CLIENT must have his mobile phone, per registered mobile number with the BANK, switched at all times in order to receive the SMS containing the GIFT CODE. While the BANK will exert effort in re-sending the GIFT CODE after initial failed attempt to send the GIFT CODE, the BANK will not be held accountable for CLIENT’s non-receipt of the GIFT CODE. 
     
  15. In the event that CLIENT was provided the GIFT CODE and was subsequently proven to have violated any of the promo terms and conditions, the BANK reserves the right to charge the cost, including applicable service fees, of the GIFT CODE to the CLIENT’s Young Savers account and to disqualify the CLIENT for this or any future promotions.
     
  16. In case of dispute related to the promo, the BANK’s decision, in concurrence with the DTI, will be deemed final and nonnegotiable.
     
  17. All eligibility and qualification requirement under this promo shall be subject to criteria prescribed by the BANK as approved by DTI. All questions or disputes regarding eligibility in Young Savers Rewards Promo will be resolved by the BANK as approved by DTI.
     
  18. Any violation of existing Young Savers Rewards Promo rules and/or General Terms and Conditions for deposit account and related services shall automatically disqualify the CLIENT from joining the promo or claims of any gifts or rewards thereof. 
     
  19. BANK reserves the right to disqualify any person from further participation in Young Savers Rewards Promo, if in its judgment, that person has violated the terms and conditions herein or has violated the terms and conditions governing deposit and services product. Suspension and disqualification may result in the cancellation of the person’s right of participation and all rewards points earned. 
     
  20. In case of dispute with respect to the BANK and CLIENT’s participating in Young Savers Rewards Promo, the decision of the BANK with the concurrence of the DTI shall be considered final. However, if dispute involves PARTNERS and its performance and/or delivery of services to CLIENT, subject to the General Provisions set out above, the decision of the BANK and PARTNERS with the concurrence of DTI shall be considered final.
     
  21. For inquiries on the promo, depositors may contact China Bank’s Tellerphone Hotline at (02) 888-55-888 or domestic toll-free numbers 1-800-1888-5888 (PLDT).
     
  22. By joining this promo, the CLIENT confirms that he/she has read, understood, and agrees to be bound by the mechanics of the promo.
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