EON Relationship Agreement

Last modified: 16 February 2017

Welcome to EON!

Thanks for using our Products ("Products"). The Products are marketed under the EON brand and provided by Union Bank of the Philippines ("UnionBank"), located at UnionBank Plaza, Meralco Ave. cor. Onyx and Sapphire Roads, Ortigas Center, Pasig City, Philippines.

By using our Products, you are agreeing to the following terms. Please go through them carefully.

Our Products will grow to keep up with your demands, so additional terms or requirements may apply for relevant Products, which will become part of your agreement with us if you use those specific Products.

Using our Products

Don't misuse our Products. Don't manipulate or alter our Products or try to access them other than through the interface and with the instructions that we provide. You may use our Products only as permitted by law. We may suspend or stop providing our Products to you if you do not comply with our terms or policies or if we are investigating suspected misconduct. read more ▼

Our Privacy Policy

When you use our Products, you signify that you trust us with your information which may include Personal Information. We value this trust that you place in us, and we aim to help you understand what data we collect, why we collect it, what we do with it, where we keep it and who we give it to. read more ▼
Accessing and updating your personal information

We aim to provide you with access to your personal information to allow you to update or delete it. When updating your personal information, we may ask you to verify your identity before we can act on your request. read more ▼
Information security

We work hard to protect EON and our users from unauthorized access to or unauthorized alteration, disclosure or destruction of information we hold. In particular: read more ▼
About Software in our Products

When a Product requires or includes downloadable software, this software may update automatically or manually depending on your device's settings once we have a new and better version or feature. This software may either be owned by us or by third parties. read more ▼
Modifying and Terminating our Products

We are constantly changing and improving our Products. We may add or remove functionalities or features, and we may suspend or stop a Product altogether. read more ▼
Our Warranties and Disclaimers

We provide our Products using a commercially reasonable level of skill and care on an "as-is" basis but there are certain things that we can't promise about our Products. Other than those expressly set out in these terms and to the extent permitted by law, we exclude all warranties. Neither we nor our suppliers guarantee specific functions of the Products and their reliability, availability, or ability to meet your needs. read more ▼
Liability for our Products

We, and our partners, will not be responsible for any lost profits, revenues, or data, financial losses or indirect, special, consequential, exemplary, or punitive damages that you or any third party may incur.

To the extent permitted by law, our total liability for any claims under these terms, including for any implied warranties, is limited to the amount charged to you.
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Assignment

You agree that we have the right to transfer or assign any of our rights to the Products or under this Relationship Agreement or the Additional Terms to any other person.
About these Terms

(Patungkol sa mga Tuntuning Ito)

In addition to this Relationship Agreement, there are additional, more specific, terms ("Additional Terms") for the Product/s that you are availing of. Those Additional Terms form part of your agreement with us.

(May mga dagdag na tuntunin “Additional Terms” na angkop sa Produkto na iyong gagamitin. Ang mga Additional Terms na ito ay bahagi ng iyong kasunduan sa amin.)

We may modify these terms and our Additional Terms, for example, to reflect changes to the law or changes to our Services. We will notify you on any of these changes via email, in the EON App, on our website, or any available channels. Note that changes will not apply retroactively and are effective on the date specified in the terms.

(Maaaring mapalitan ang mga tuntuning ito, halimbawa kung mayroong mga pagbabago sa batas o sa aming mga serbisyo. Anu mang pagbabago sa mga tuntunin ay ipapaalam namin sa iyo sa pamamagitan ng email, sa EON App, sa aming website, or anu mang channel na mayroon kami, at ang mga pagbabagong ito ay epektibo sa petsa na nakasaad. Kung hindi ka sang-ayon sa mga bagong tuntunin, maaari kang tumigil sa paggamit ng Produkto.)
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EON DUO
TERMS OF USE

Just one more step and you’ll get more control over your online shopping and Card Not Present transactions (CNP) through your EON Duo. We’d love to get you onboard now, so make sure you read our terms of use carefully.

Terms You Need to Know

  1. "Bank", "Us", "We", and "Our" refers to UnionBank of the Philippines or that of the Bank's, as the case may be.
  2. "Card Not Present Transactions" (CNP) refers to transactions made using your EON Duo card information that did not require your card to be physically presented for merchant to verify visually. Examples are eCommerce or Mail Order/Telephone Order (MOTO) transactions.
  3. "EON Duo" or "EON Duo Account" is a virtual credit line or virtual credit card granted by the Bank to you with a validity of 5 years and is only accessible through available EON Channels.
  4. "EON App" is a mobile application that boasts of a facial recognition feature that will safeguard cardholder’s account from fraud and identity theft. It is EON’s main channel used for accessing all types of EON accounts.
  5. "Cardholder" means an individual who EON Duo is issued by the bank to. The Cardholder is also referred to as "You", or "Your".
  6. "Card Number" is a unique 16-digit number issued to you when you activate your EON Duo account.
  7. "Card Transaction" means your purchase of goods and/or service using your card number to state, indicate, or confirm your purchase.
  8. "Charge/s" means amount/s payable by the Cardholder arising from the use of EON Duo or the card number under these Terms of Use, including without limitation all transactions, fees, service charges, interest charges, late payment charges, additional expenses, damages, legal costs, and disbursements and any other fees which the Bank may impose from time to time, and which shall form part of the Total Outstanding Balance.
  9. "Credit Limit" means the maximum debit balance permitted by the Bank for EON Duo accounts.
  10. "Statement Balance" or "Total Outstanding Balance" means the total debit balance (inclusive of all Charges) outstanding on the EON Duo payable to the Bank according to the Bank's records as of the Statement Date. This may not include unbilled charges as of the statement cut-off date.
  11. "Interest Charges" means amount payable by the EON Duo Cardholder representing cost for borrowing from or availing of the credit card line.
  12. "Late Payment Charges" means amount payable by the EON Duo Cardholder representing penalty for not paying card usages and charges on or before the Payment Due Date.
  13. "Merchant Affiliates" means any corporate entity, person or other establishments supplying goods and/or services who accepts the EON Duo as a mode of payment or reservation by the Cardholder.
  14. "Minimum Amount Due" is either Php500 or 5% of the Total Outstanding Balance for EON Duo whichever is higher, in addition to installment amortization/s due for the month and any amount in excess of my credit limit and/or past due amount including system-generated interest and charges.
  15. "Month" means the calendar month.
  16. "Payment Due Date" means the date specified in the Statement of Account for EON Duo by which date, payment of the Current Balance or any part thereof or the Minimum Amount is due to be made to the Bank.
  17. "Posting Date" means the date by which a Card Transaction is posted onto EON Duo accounts.
  18. "Statement Date" means the date by which the Statement of Account for EON Duo is generated.
  19. "Statement of Account" means the Bank's monthly or periodic statement sent to the Cardholder via email showing particulars of the Current Balance payable to the Bank and enumerates the Cardholder’s outstanding obligations.
  20. "Transaction Date" means the date by which a Card Transaction is completed.
  21. “Lock/Unlock” refers to the EON Duo Account feature that allows the Cardholder to lock and unlock the account through the EON App to prevent unauthorized transactions.
  22. “Trusted Webstores” refers to the webstores or merchants duly-enrolled by the Cardholder through the EON App with which Card Transactions shall still push through even if the EON Duo is locked by Cardholder through the EON App.

Your EON DUO. Your EON Duo account is a virtual credit card that comes with a free partner EON Lite account. You can apply for EON Duo through the EON App or the EON website. When you apply, you will be asked to provide your selfie, full name, contact information, other identification details and supporting documents that will help us get to know you better. Make sure that you provide us with your correct information. This is necessary to avoid delays in your application and crucial in helping us providing security to your account.

Once your application is approved, you will receive a FASTREG code through the mobile number and email address you provided. You can activate your EON Duo Account through the EON App by following the instructions in the app. This will include taking your selfie, entering your FASTREG code, and confirming your identification details.

Once your EON Duo account is activated, your partner EON Lite account will also be activated. This partner EON Lite Account is a virtual account subject to EON Account Terms of Use. It is separate from your EON Duo account but can also be used for CNP transactions.

You can link a physical card (the EON Card) to your partner EON Lite account. You can do this by buying an EON Starter Kit from our Partner Outlets and linking the EON Card to your partner EON Lite account in the EON App. To know more about this and about our Partner Outlets, please go to www.eonbankph.com.

Using your EON Duo. You may use your EON Duo to buy goods or pay for services wherever the card is accepted. You may use your EON Duo as long as the available Credit Limit is sufficient for the payment being made.

We would like you to use your EON Card a lot; but for security reasons, you agree that we have the right to limit the amount or number of transactions you can make, and decline transactions which can possibly be unauthorized. We cannot guarantee that your EON Duo will always be honored by all merchants, so please use an alternative payment method to settle your purchases. You agree to hold us free and harmless from any claim for damages as a result of the failure of any MasterCard/Visa-affiliated merchant to honor your EON Card. We are also not responsible for any defective product or service you have bought through your EON Card.

The existence of a claim or dispute with a Mastercard/Visa-affiliated merchant shall not relieve you of any obligation to pay the charges which were incurred through the use of the EON Duo.

You agree that you are fully responsible for all charges on your EON Duo. All charges made in currencies other than Philippine Pesos will be converted to the billing currency (Philippine Peso) on posting date at the prevailing exchange rate selected by Visa International from the range of rates available in the wholesale currency markets for the applicable Processing Date, which rate may vary from the rate Visa International itself receives; or the government-mandated rate in effect for the applicable Processing Date plus a 3% spread for process transactions in foreign currencies.

Accessing EON Duo through available channels. You can access your EON Duo account via your mobile device through the EON App, and via desktop browser through EON Internet Banking. Through these channels, you can monitor your account, pay bills, buy prepaid load, transfer funds from your partner EON Lite account, and lock and unlock your EON Card.

You can also activate and assign Trusted Webstores for your CNP transactions. When you activate and assign a Trusted Webstore, all CNP transactions done for webstores or merchants other than your assigned Trusted Webstores shall not be processed. Transactions made with the Trusted Webstores will also push through even if your account is locked. You are solely responsible for activating or deactivating the Trusted Webstore feature in the EON App. The Bank will not be liable for transactions that you have confirmed through the activation or deactivation of your Trusted Webstores.

There will be no physical card to be issued for EON Duo and its partner EON Lite account. All of your card information such as card number, expiry date, and security code can be viewed via the EON App. The EON App can also generate a Dynamic CVV2, which is an additional security feature for your EON Duo and its partner EON Lite account. When you use this feature, a new security code or CVV2 is generated as you initiate for use in your CNP transactions. You are not required to generate a new CVV2 for your every transaction. But every time a new CVV2 is generated, the CVV2 preceding the new CVV2 will no longer be valid. You must make sure to update all eCommerce subscriptions, such as iTunes, Google, Uber, etc., that use your EON Duo card information including its CVV2. We will not be liable for transactions that will not push through due to the use of Dynamic CVV2.

You can learn more about EON’s channels by visiting www.eonbankph.com. We reserve the right to suspend your use of these channels for violations of the terms and conditions governing the use of these channels.

Paying Your EON Duo. By using your EON Duo, you agree that you will pay all card usages and charges on or before the Payment Due Date stated in the Statement of Account. Payments can be done through our available payment channels.

If the Payment Due Date falls on a Saturday, Sunday or Holiday, the Payment Due Date is the last working day before the Payment Due Date. If you pay in check, the check should be cleared on or before the Payment Due Date. Otherwise, your payment shall be considered late and shall incur the applicable interest and charges. Regional clearing checks or out-of-town checks are not acceptable modes of payment. If your check is returned for whatever reason, you will be charged PhP 1,500 per returned check.

You have the option to pay for (i) a minimum amount of either (a) PhP 500.00 or (b) 5% of your Total Outstanding Balance, whichever is higher, plus any amount exceeding your Credit Limit or past due amounts, (ii) a maximum amount equivalent to the full amount of your Total Outstanding balance or (iii) an amount in between.

You also agree to pay for a monthly installment amortization (if applicable) for any installment plan that you availed either directly from the merchants or from the Bank, subject to its own terms and conditions.

If you do not pay any of your obligations or pay below the required minimum amount due, you agree that we can stop you from using your EON Duo, terminate all privileges, and the entire obligation shall become due and demandable.

If your account becomes delinquent or past due, you will receive written notification that we are referring your account to a collection agent seven (7) days prior to the endorsement. This written notification will tell you the name of the collection agency and its contact details.

If we need to refer your case to a collection agency, you agree to be liable to pay for the cost of collection and/or attorney’s fee equivalent to 25% of the unpaid balance and the applicable costs of litigation.

Your credit information. We have the right to investigate and verify information you provide us. You agree to authorize 1) the regular submission and disclosure of your basic credit data (as defined under Republic Act No. 9510 and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof; and 2) the sharing of your basic credit data with other lenders authorized by the CIC, and credit reporting agencies duly accredited by the CIC. If we find that you have provided us with falsified information, we have the right to deactivate your EON Duo or your other EON account/s. We are not liable to you or any third party for doing so. This, of course, also does not prevent the Bank from taking other actions or claiming any damages from you caused by or arising from any such false information.

Terminating your EON Duo. You can cancel your EON Duo at any time for as long as you have paid all fees, charges and outstanding balances on the card even if it is not yet reflected in the Statement of Account. You agree to immediately settle in full all outstanding balances incurred and you agree to indemnify the Bank for all costs (including legal fees and charges) and expenses we may have incurred to recover payment from you. You can contact EON Customer Support to confirm your request to terminate or cancel your EON Duo account.

We can also stop letting you use your EON Duo when necessary. But if we do, we will give you notice when reasonably possible and we shall not be held liable for doing so. For example, when you exceed the allowable limits or if we find your account to be fraudulent or compromised.

You agree to continue to be liable even if we have deactivated your EON Duo for any and all charges made on your account. We will terminate your EON Duo once all fees, charges and outstanding balances on the card even if they are not yet reflected in the Statement of Account, are paid.

This Terms of Use serves as your authorization for the Bank to debit from any of your EON Accounts or any funds that belong to you as a deposit with the Bank, regardless if the said funds have been cleared or not, and credit the same as your payment to the Bank of your outstanding obligations from your EON Duo account, prior to terminating your EON Duo account.

If your EON Duo account has been terminated, the free partner EON Lite account shall automatically be converted into a regular EON Lite account subject to its respective Annual Fee. Please refer to the EON Account Terms of Use for details about your EON Lite account.

Protecting your EON Duo. We apply security measures that protect your EON Account from unauthorized use and fraudulent transactions. However, we will not be able to control instances where you have compromised your EON Account by sharing sensitive data such as your account details and card information to anyone or where you have made their access to such details and information possible.

Please make sure to keep your EON Duo Account and information about your card; such as card number, expiry date, and CVV2, private and confidential. DO NOT share this with anyone else including your family, relatives, other person/s, groups, institutions, or websites. We are not responsible for any losses, damages, penalties and liabilities of any kind incurred by you because you have shared your information, unless the damage, loss, or liability has been conclusively proven and adjudged with finality by the appropriate court to have been solely and directly caused by our gross negligence or fraud.

We may change your Card Number at any time especially when it has been compromised. You will be notified of this change through the phone, SMS, email and/or in writing.

When you call EON Customer Support, our conversation will be taped or recorded. These recordings can be used as evidence by the Bank in judicial or administrative proceedings.

Renewing your EON Duo. Your EON Duo is valid from the date of its issuance or renewal up to the last day of the month indicated on the EON App (“Expiry Date”). The EON Duo shall be automatically renewed one month before the Expiry Date. The renewal of your EON Duo or replacement of the Card Number shall be at the Bank’s discretion. If your EON Duo is not renewed, you will need to pay the entire obligation as this is considered immediately due and demandable.

Monitoring your transactions. Keep track of transactions through our available channels. All transactions recorded on your EON Duo Account shall be considered correct and authorized by you. If you find any discrepancies, please report it immediately to EON Customer Support. We will consider your transactions valid if we do not hear from you within thirty (30) calendar days from transaction date.

Charges may apply if you dispute a transaction that requires retrieval of original supporting documents from the Bank. We shall treat this disputed amount as an outstanding availment against your Credit Limit. If after investigation and the dispute is found to be valid, you will not be liable to pay any interest charges and late payment charges related to the disputed amount. Otherwise, you shall be liable to pay the disputed amount and the corresponding charges due from the transaction date up to the date of dispute resolution. Results of the dispute investigation and resolution shall remain conclusive and incontestable.

We will also send you an electronic Statement of Account monthly through email enumerating your outstanding obligations. If you do not receive this, you may request to have this sent to your registered email address through the EON App. Your enrolled email address is your responsibility and we are not liable for any losses you incur for exposing your Statement of Account due to unauthorized access to your email address.

Your Credit Limit. We shall assign you a Credit Limit based on our discretion. It will be Philippine Peso (PhP) and is your maximum allowable outstanding balance at any given time. Monitor your purchases and Credit Limit closely. You may exceed your Credit Limit due to transactions or system-generated accumulated interest or late charges that are billed to your account. We may approve or deny your transaction if it exceeds your Credit Limit. Overlimit Fees apply if you exceed your Credit Limit, and the overlimit amount will be due and demandable without prior notice.

It is our discretion to increase or decrease your Credit Limit. If we need to decrease your Credit Limit, we shall let you know before doing so. Once your Credit Limit is decreased, the balance exceeding your new Credit Limit shall be due and demandable without prior notice.

Transaction Fees and Charges. We will charge you for some transactions using your EON Duo account such as the following:

Annual Fee PHP1,000.00
Interest Charge 3.5% Monthly Effective Interest Rate (EIR), based on average daily balance.
Late Payment Charge PHP750.00
Overlimit Fee PHP500.00
Transaction Retrieval Fee PHP200.00 per transaction retrieval requested
Dispute Fee PHP1,000.00 per invalid dispute case
Returned Check Fee PHP1,500.00 per returned check
Refund Fee PHP100.00

Your annual membership fee will continue to be billed to you as long as your EON Duo is active.

All charges made in currencies other than Philippine Peso (PHP) shall automatically be converted to the (PHP) billing currency on posting date at the prevailing exchange rate selected by Mastercard or Visa International. This will be based on the range of rates available in the wholesale currency markets or the government-mandated rate if in effect. A 3% fee will be added covering the cost of processing transactions in foreign currencies.

You agree to pay other fees relating to the use of your EON Duo. You also agree to pay for the applicable Value Added Tax (VAT) or any other applicable tax imposed on transactions made using your EON Duo account.

For a detailed summary of our fees and limits, please visit www.eonbankph.com. We have the right to change our fees and limits without prior notice.

Computing Your Interest. For every billing cycle, you have the option to pay for the outstanding balance in full, the Minimum Amount Due or any amount in between. Interest Charges do not apply if you pay the outstanding balance in full on or before the Payment Due Date.

If you do not pay the outstanding balance in full on our before Payment Due Date, it means that you have availed of your credit line and that you will be billed an interest charge of 3.5% per month (42% per annum).

The Interest Charge shall cover the Average Daily Balance (ADB) of individual transactions from previous statement computed from posting dates to the current statement cut-off date, plus interest on all transactions in the current billing cycle computed from posting dates to current statement cut-off date, less interest credit (based on 3.5% monthly rate) on payments computed from posting dates to statement cutoff date.

Any Interest Charges incurred from 90 days and above the Payment Due Date will have a separate computation. You agree that you will pay the Interest Charges at a per annum rate we specified, and that we may update the per annum rate at any time. We will notify you of these changes through your monthly Statement of Account.

Sample Computation of Your Interest

Principal Amount: P 10,000
Monthly Interest Rate 3.5%
Term of Payment will vary based on the amount of payment made

Month Retail
Purchase
Outstanding
Principal
Balance
Interest Payment Total
Outstanding
Balance
1 10,000 10,000 0 0 10,000
2 - 9,000 456 (1,000) 9,456
3 - 8,456 290 (1,000) 8,746
4 - 7,746 298 (1,000) 8,044
5 - 7,044 264 (1,000) 7,308
6 - 6,308 246 (1,000) 6,554
7 - 5,554 213 (1,000) 5,767
8 - 4,767 192 (1,000) 4,959
9 - 3,959 163 (1,000) 4,122
10 - 3,122 130 (1,000) 3,252
11 - 2,252 103 (1,000) 2,355
12 - 0 60 (2,355) 60

Note: In this computation, we assume that you made no additional transactions/charges on your EON Duo. Payment of only the Minimum Amount Due or any amount less than the Total Amount Due would automatically result to interest charges. Interest charge computation will be based on the principal balance including new purchases from posting date.

Updating your information. Make sure that your contact information with us is correct and updated. If you need to change your email address or mobile number, you may do so through the EON App.

If you have changed address, civil status, or employment information, please contact our EON Customer Support. You will be asked to submit supporting documents that we will verify before we can process any change.

Compliance with existing laws. Your EON Duo Account is a credit card product issued by UnionBank of the Philippines and is governed by Republic Act 10870. Its partner EON Lite Account is duly-authorized electronic money product as per Bangko Sentral ng Pilipinas (BSP) Circular No. 649. Both accounts are governed by the Anti-Money Laundering Law and all other applicable laws in the Philippines. You agree to follow these laws when you use your EON accounts.

If you misuse your EON accounts and violate these terms and other related rules, you agree that we have the right to suspend or terminate your account.

EON Duo is one of the “Products” as defined in the EON Relationship Agreement. The EON Relationship Agreement is available as a supplement to this Terms of Use. Please click here for reference.