Terms and Conditions


  1. By applying for or using any Account, Application, Card, or Service, you are deemed to have understood, accepted, and agreed to be bound by all of the Terms and Conditions set out herein, and as may be amended, modified or supplemented from time to time, our Privacy Statement, such operational rules, guides, and specific terms and conditions that govern any Account, Card, or Service, and to pay any fees associated with the use of any of the Account, Application, Card, or Service. 


  1. “Account” refers to Tonik Account (savings account), Time Deposit(s) and Solo or Group Stashes (savings account). 

  1. Affiliate” means any person or entity that, now or hereafter, directly or indirectly, controls (whether singly or together with others), is controlled by, or under common control with Tonik, where “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies whether through ownership of securities or equity interest, management authority, or contract.  

  1. “Application” refers to Tonik Mobile Banking Application. 

  1. “Card” means Tonik ATM/Debit Card, Tonik Virtual Debit Card, and other ATM/Debit Cards that may be issued or acquired by Tonik in the future.  

  1. “ATM Network Participant/s” means banks and other financial institutions who are, or in the future will be, members or affiliates of BancNet, Mastercard affiliated banks or such other ATM networks or affiliations that will allow Tonik ATM/Debit Cards in their ATM systems and facilities.  

  1. Banking day” means a day, other than a Saturday, Sunday or public holiday, in which banks are generally open in Manila and Pasig. 

  1. “Card Security Code” or “CVC Code” means the three (3) digit number displayed on the Tonik Virtual Debit Card or at the back of the Tonik ATM/Debit Card, which is used to make purchases or payments online.  

  1. “Tonik”, “we”, “us”, “our” refers to Tonik Digital Bank Inc. 

  1. “You”, “your”, or “yours” means any person applying for, owning or holding an Account, or installing, registering, or utilizing the Application, or applying for or holding a Card, or applying for, availing, or utilizing a Service. 

  1. Solo Stash” means a saving vault involving 1 person that can be opened from that person’s Tonik Account. 

  1. “Group Stash” means a saving vault involving an owner and other Tonik customers that can be opened from the owner’s Tonik Account. 

  1. “PIN” or “Personal Identification Number” shall mean a personalized digit code used to access the Application or Card, and make ATM/POS transactions.  

  1. “OTP” or “One Time Password” shall mean an authorization code sent to the registered mobile phone number to verify customer’s identity and to authorize transactions. 

  1. “Password” shall mean a personalized alphanumeric code used to access the Application. 

  1. “Service” refers to facilities, offering or product that are related to the use of Account, Card or Application.  

  1. “Time Deposit” is a bank deposit product which earns interest over a fixed term or period. The money must remain in the Account for the duration of the fixed term in order to earn the stated interest rate.   


  1. We have the discretion from time to time to make the Application available to you, determine the scope of the Application, set or change the daily cut-off times, modify, restrict, withdraw, cancel, suspend or discontinue any or all of the services without notice or responsibility to you and without giving any reason but with strict compliance to the rules and regulations set by the Bangko Sentral ng Pilipinas. By using the Application after any modification or change has been effected, you have agreed to any such modification or change. 

  1. While the Application is made available 24-hours a day to you, there is no warranty that it will be available at all times due to daily cut-off times, scheduled or unscheduled maintenance and/or computer, telecommunication, electrical or network failure or any other reasons beyond our control. Tonik shall not be made liable for loss or damage (including but not limited to those imposed by third parties) in relation with transaction or service done through our application. 


  1. All instructions must be given through the Application. However, we may also accept instructions given through other means (such as orally, in writing, facsimile, or otherwise) acceptable to Tonik, provided that: 

  1. We have received such instructions in such mode or manner agreed on by us from time to time; 

  1. Our acceptance of such instructions may only be available for certain types of Accounts, Cards, Services, and segments of customers or on an exceptional basis upon your request to us; 

  1. We may record or make any note of any instruction or communication, including telephone or video conversation between you and us, with or without the use of an automatic tone or other warning device; 

  1. Notwithstanding the above, we are not obliged to make any note or recording, or maintain copies of any notes or recordings, and the failure to do so shall not in any way prejudice our rights; and 

  1. We are not responsible for guaranteeing that communications or instructions given in such a manner will be completely secure, and the risk of fraud, misunderstanding, error, delay, and losses resulting from communications or instructions given in such a manner are entirely at your own risk and we will not be liable for the same, unless it is proven that such risk is caused by our fraudulent intent, wilful misconduct, or gross negligence. 

  1. You acknowledge that all instructions once given to us are irrevocable and binding on you, and you shall not dispute any instruction so given.  

  1. You are responsible for: 

  1. Ensuring that all instructions are accurate and complete, and given in the manner specified by us; 

  1. Ensuring that your Account has sufficient funds for us to carry out any instruction (you will be responsible for any charges or penalties because of unsuccessful transaction due to insufficiency of funds or dormancy of Account); 

  1. Ensuring that any transaction or activity through the Application or Card does not breach any regulation or law; 

  1. Ensuring that the instructions are not varied or cancelled after they have been received or processed by us; 

  1. Following our instructions in connection with the Accounts, Cards and Services, and complying with all applicable laws;  

  1. Keeping the confidentiality of your PIN, OTP, or Password, and refraining from disclosing them to any other person; 

  1. Signing the back of your Tonik ATM/Debit Card once you receive it;  

  1. Always checking the transaction records pertaining to activities done with your Application or Card. If you believe there is any error, you must immediately notify Tonik;  

  1. Informing us as soon as reasonably practicable if you know or suspect that someone else knows the Card number and/or the ATM/Debit PIN, and/or Password, or that any of the foregoing has been lost, stolen, or compromised, or that unauthorized transactions have taken place; and if you fail to do so you will be liable for any transactions made on your Account;   

  1. Promptly examining your statements upon receipt and if you discover any discrepancies, omissions, inaccuracies or incorrect entries, immediately reporting to us any of the foregoing; and 

  1. Giving us all relevant and necessary documents, information, and assistance we may need, especially for investigations into crimes and frauds. 

  1. Tonik may: 

  1. Act on any instruction we believe in good faith has been given by you; 

  1. From time to time require the use of access procedures, require additional conditions, and change or implement new security procedures for accepting instructions; 

  1. Refuse to act on any instruction, or cancel or reverse any instruction if we deem that such refusal is necessary, desirable or appropriate; 

  1. Refuse to act on any instruction that would result in transaction limits being exceeded.  

  1. Cancel or reverse any action taken on the basis of an instruction or demand for refund, debit the Accounts, cause an amount to be unavailable for withdrawal, or treat the Account as overdrawn or exceeding its limit, if: 

  1. We need to correct any error or omission; 

  1. We are required to return funds to the payer or drawer; 

  1. We have not received cleared and unconditional funds in full or in time; 

  1. We find any case of fraud or forgery; 

  1. Our internal checks indicate that the instruction was not from you; or 

  1. We have reasonable grounds to do so for any other reason whatsoever. 

  1. Agree to the variation or cancellation of any prior instruction subject to required conditions. When the conditions are met, we will endeavor to stop a transaction when instructed to. However, we will not be responsible for any loss you incur for our failure to cancel the transaction. 

  1. We may disregard any instruction, or refuse to provide access to or allow you to use any Account, Card, or Service if: 

  1. We are of the opinion that the instruction is inconsistent, incomplete, incorrect, misleading, unclear, conflicting, fraudulent or not given in a manner specified by us; 

  1. It is unreasonable and impracticable to do so; 

  1. It is against our business practice or any internal policy or procedure; 

  1. It is against any applicable law or regulation; 

  1. It results in an Account being overdrawn or exceeding the daily transfer limit or category limit on the Account or the transaction limit for any Account, Card, or Service being exceeded; 

  1. You have breached the account credit limit and have not provided us with the relevant documentation required to upgrade your Account; 

  1. A minimum balance requirement applies to the Account and the instruction would cause the Account balance to fall below that minimum balance; 

  1. Circumstances beyond our control prevent your instructions from being carried out, or you have not provided us with all documents, verification, and information we require; 

  1. At any point you become bankrupt, legally or physically incapacitated, or pass away, at which point Tonik may freeze or suspend operations on any Account, Card, or Service, not act on any instrument presented or any instructions received, and refuse access to the funds in the Account or to any Card or Service, without being responsible for any loss thereby incurred by you, your successors, or any third person, until we receive, to our satisfaction, such documents we deem necessary to transfer ownership over the Account, Card, or Service, including, without limitation, evidence of the person(s) who have the legal authority to claim ownership over the said Account, Card, or Service. Any and all accrued but unpaid obligations of yours to Tonik prior to termination, and the Terms and Conditions herein shall survive the termination of your right to use the Application or Card. 


  1. We shall not be obliged to provide any guarantee that:  

  1. an instruction will be carried out within a particular timeframe or in any particular order;  

  1. there will be no time lag between the time you provide an instruction and the time the instruction is carried out by us; or 

  1. an instruction will be completely secure and we shall not be liable for any security breach unless such breach was caused by our wilful misconduct or gross negligence. 


  1. You must notify us through an acceptable method specified by us if there is any change in your particulars (e.g. Mobile Phone Number, Postal Address, Marital Status, etc.) or contact details. Tonik, its officers and employees shall be held free from any harm for damages, claims and demands from your failure to do so.  

  1. Notices, documents, and communications will be sent via the Application (including through push notifications sent to your mobile device whether or not you are logged into the Application, or notifications feeds in the Application), or other methods we deem suitable. 

  1. You shall take all steps necessary to allow the Application to send push notifications to your mobile device and send notifications via the Application. You acknowledge that if you do not take such steps, you may not receive such notifications and will indemnify Tonik for any loss or damage resulted from not receiving said notifications. 

  1. You agree that unless otherwise expressly provided in writing, any notices, information, documents, and communications sent by us to you will be deemed effective or received by you in the following manners acceptable to Tonik: 

  1. If sent by electronic mail, SMS, or via the Application, at the time and date it is dispatched from our system to you; 

  1. If sent by hand, at the time of delivery; 

  1. If posted on our website or third party links, on the date of display or posting; 

  1. If sent by mail to an address within the Philippines, the following banking day after mailing; 

  1. If sent by mail to an address outside the Philippines, five (5) banking days after mailing; 

  1. If advertised in the newspaper, on the day of advertisement, and; 

  1. If broadcast via radio or television or any other broadcasting means, on the date of broadcast. 

  1. Your communications and notifications to us through the Application will be valid if such are received in a legible form and acknowledged by us. 


  1. You authorize Tonik to obtain and verify the information collected from you through government agencies or third parties including banks, financial institutions, and credit bureaus.  

  1. You allow Tonik to conduct background checks on your financial capability or for any other legitimate purpose Tonik may deem necessary.  


  1. Accounts may be opened subject to the approval of Tonik, after taking into consideration the submission of relevant information and documents acceptable to Tonik and after verification of an applicant’s identity and/or authority to open the Account.  

  1. To be eligible to open an Account with Tonik, you must: 

  1. Be at least 18 years of age; 

  1. Be an individual who is a residentcitizen of the Philippines; 

  1. Have at least one (1) valid Philippine government issued identification document (“ID”); 

  1. Have a present Philippine and/or Philippine permanent address; 

  1. Have a valid local Philippine mobile number; and 

  1. Have a valid e-mail address. 

  1. You warrant that you are not suffering from any legal disability upon opening of the Account.  

  1. Upon successful Account opening, you agree to perform an initial deposit in an amount determined by Tonik prior to the start of the Account opening process.  

  1. All your Accounts will be denominated in Philippine Peso (PHP). 

  1. All transactions with Tonik will be done through the Application or Card. All products or Services that Tonik provides to you will be visible in the Application. 

  1. You agree to be governed by the processes for initiating and concluding transactions through the Application or Card. By enrolling for an Account with Tonik, you warrant that: 

  1. You are familiar with the Application or Card and how transactions are processed therein;  

  1. The use of the Application or Card, including transactions you initiate, process and conclude, shall only be for lawful purposes.  

  1. You shall create your Password upon enrolment to the Application in order to carry out your banking transactions via the Application.  

  1. You may activate biometric authentication as an alternative method to accessing your Application. 

  1. You agree that, for your own protection, Tonik can invalidate your Password or lock your Account or the Application without prior notice if your Password does not comply with the security requirements of Tonik, as the same may be amended and updated from time to time, or if the wrong Password is entered for such number of times and within such time period as Tonik may determine. Tonik shall not be held liable for any loss or damage for the invalidation of your Password or locking of your Account or the Application. 

  1. You may change your Password or PIN at any time. You must keep your Password or PIN confidential, and ensure that you have exercised reasonable care as to prevent unauthorized transactions, access, and/or use of your Password or PIN. You will be required to change your Password once every ninety (90) days.  

  1. Accounts processed under “Fast Onboarding” (i.e. no ID provided) will be given access to a virtual debit card and will have a 12-month validity period to complete and submit the documentary requirements. The Account will have a maximum balance of PHP 50,000 with a total aggregate credit of PHP 100,000 in a year. Your Account will be allowed to have 2 Solo Stashes and to contribute in Group Stashes as a member. Time Deposits will not be allowed. 

  1. After uploading your government ID and submitting the required documentary requirements for further verification through the Application, the 12-month validity period and total yearly transaction limit may be removed. You will also be eligible for a physical ATM or Debit Card, be entitled to upgrade your Account to 5 Solo or Group Stashes, 5 Time Deposits. 

  1. Tonik has the right to request for additional actions or documents from customer such as live video call, proof of income, proof of address, source of fund certification and other relevant actions or documents for due diligence (KYC/CDD-EDD) purpose as required by the regulator.  

  1. In case you do not fulfil KYC or CDD-EDD requirement, Tonik has the right to restrict withdrawal and/or deposit transaction from/to your Account. 

  1. You shall be liable for the payment of any of your obligations as depositor to Tonik, and Tonik may at its own discretion apply all or any part of the Accounts (including Time Deposit Accounts) to the payment in whole or in part of any obligation that may be due to Tonik. 


  1. You acknowledge, accept, and agree that any deposits to be made to the Account can only be made through such channels provided by or made available by Tonik from time to time, such as, but not limited to, Cash-In at Tonik’s designated partners. For deposits made via Cash-In through Tonik’s partners, all deposits must be made by following the latter’s procedures for Cash-In. 

  1. Only local MasterCard and VISA debit cards are accepted for cash-in to your deposit Account. 

  1. The initial deposit and the minimum subsequent deposits must be in such amounts as may be reasonably determined by Tonik.  

  1. Tonik may, at its discretion, refuse to accept deposits or at any time return all or part of a deposit together with the interest due, as may reasonably be determined by Tonik. 

  1. You assume full responsibility for the correctness, due execution, genuineness and validity of all endorsements appearing on all items deposited. All endorsements and/or lack of endorsement on the items deposited are guaranteed by you. 

  1. For each deposit to or withdrawal made from your Account, you warrant that you have full and absolute title and right of disposition over the money and funds in your Account.  


  1. You acknowledge, accept, and agree that any withdrawals to be made from the Account can only be made through such channels provided by or made available by Tonik from time to time, such as, but not limited to, ATM of partner institutions or Cash-Out at Tonik’s designated partners. If the withdrawal is made via Cash-Out through Tonik’s designated partners, all withdrawals must be made by following the latter’s procedures for Cash-Out. 

  1. You will not be permitted to withdraw from your Account any amount in excess of the outstanding available balance in your Account. 


  1. Account statements will be provided for all Tonik Accounts and will be made available electronically for viewing in the following month. You will not be issued a passbook, paper statement, or paper confirmation advices. 

  1. You can only have one Tonik Account at all times, opened and operated singly. 

  1. Your cash out, withdrawal, fund transfers, and payments can only be made from your Tonik Account. 

  1. Solo and Group Stashes 

  1. We reserve the right to reject and/or not give interest for the deposit or fund transfer to Stashes from any Account other than your Tonik Account (or contributing to Group Stash from Tonik Account). 

  1. Solo Stash is accessible from your Tonik Account. The movement of funds is solely through your Tonik Account and the Solo Stash will not be linked to your ATM/Debit Card. 

  1. Group Stash can be accessed by the Group Stash owner (i.e. person who opens, starts the Group Stash, and invites members to the Group Stash) and Group Stash invited members. The deposit of funds is solely through the Tonik Account of the Group Stash owner and the Tonik Accounts of Group Stash members, while the withdrawal of funds is solely through the Tonik Account of the Group Stash owner. The Group Stash will not be linked to the Group Stash owner’s ATM/Debit Cards. 

  1. Funds transferred to a Group Stash will belong to the owner of the Group Stash. Usage of funds is solely within the discretion of the owner of Group Stash. 

  1. Time Deposits 

  1. For a successful Time Deposit placement you must agree with the conditions indicated in the creation confirmation screen in the Application. A Time Deposit confirmation certificate which contains, among others, the Time Deposit investment amount, term, maturity date and interest rate, will be made available to you electronically at the next banking day. 

  1. Upon maturity, you will receive a maturity confirmation certificate that will be made available to you electronically by the next banking day. 

  1. Upon early termination (i.e. withdrawal before agreed maturity date), you will receive a withdrawal confirmation certificate that will be made available to you electronically by the next banking day. 

  1. Confirmation certificates are notifications of the Time Deposit status or placement in Tonik, and are not evidence of ownership and are non-transferrable.  

  1. Early withdrawal of the Time Deposit may incur a Documentary Stamp Tax (DST) charge as determined by Tonik, penalty charge and an adjustment in interest rate as determined by Tonik upon confirmation of early withdrawal. 

  1. A cooling off” period of five (5) days applies for all Time Deposits. Interest on the time deposit placement will not be given for withdrawal during the “cooling off” period. Tonik may recover any loss arising from the exercise of the cooling period and collect processing fees, depending on the policy it may adopt within the limits allowed by law and regulations. 

  1. Early withdrawal of the Time Deposit can only be made for the full amount of the Time Deposit. No partial withdrawal will be allowed. 


  1. Interest 

  1. Interest bearing Accounts shall earn interest at a rate determined by Tonik on a per annum basis and in accordance with applicable laws, rules, and regulations. 

  1. Interest for Tonik Account and Solo or Group Stashes will be computed daily based on daily cleared balance, credited to the respective Account at the end of month or at the start of the following month, and subject to applicable withholding taxes. Interest for Time Deposit will be credited at maturity date or termination thereof, and subject to applicable withholding taxes. 

  1. Interest rates and interest calculation method may change when conditions warrant from time to time and Tonik will notify you via appropriate methods. 

  1. Interest for dormant Accounts shall follow the rule for active Accounts and will be credited as scheduled. 

  1. No interest will be paid on Tonik Account closed prior to the scheduled crediting of interest. 

  1. Accounts shall be subject to applicable PDIC laws, rules, and regulations including the insured value as follows: 

  1. Deposits are insured by the PDIC up to a maximum amount of Five Hundred Thousand Pesos (P500,000.00) per depositor; and 

  1. PDIC shall assume that the name(s) appearing on the deposit instrument is/are the actual/beneficial owner(s) of the deposit, except as otherwise provided. 


  1. You agree that all transactions done via the Application or Card shall be processed from your Tonik Account. The transaction amount verified by Tonik is deemed to be the correct amount transacted by you in your Account 

  1. By using your OTP, Password or PIN, or other forms of authorization including but not limited to signed form or memo or providing confidential Card details (such as CVC), you authorize Tonik to carry out the transactions that you have initiated through the Application or Card. All transactions shall be deemed as having been authorized by you and shall be valid and binding. 

  1. In case of transactions with third parties via the Application or Card, such as bills payments, POS purchases, prepaid reload, and the like, Tonik merely serves as a conduit between you and the payee. Tonik shall not be held liable for any action or claim which may arise between you and the payee.  

  1. If you are entitled to a refund or rebate for a purchase in part or in whole using Tonik ATM/Debit Card, you agree to seek a refund or rebate only from the merchant establishment purchased from and shall not pursue Tonik for any refund or rebate. 

  1. In cases when your instructions require third party approval, Tonik’s obligation to perform such transaction will be subjected to the approval and consent of the third party.  

  1. Tonik shall not be liable for any delay or shortcomings of the third parties you transact with upon Tonik’s execution of the transaction.  

  1. Tonik shall ensure implementation of appropriate security measures to secure the Application or Card. However, Tonik shall not warrant the confidentiality, secrecy and security of any information sent through any internet service provider, public Wi-Fi connections, network systems, or other similar systems. You are responsible to ensure connection to a secured network at all times  

  1. You agree that the instructions you issue are always subject to limits and conditions set by Tonik, in compliance with local laws and regulations.  

  1. Any instruction transmitted after the relevant cut-off time shall be posted in the books and records of Tonik on the next banking day following the date of the instruction. 

  1. Tonik shall not be liable for any loss or damage of whatever nature (including without limitation, charges and or penalties which may be imposed by third parties) in connection with the implementation of transactions via the Application or Card, including but not limited to the: 

  1. Disruption, failure or delay in implementation of transactions relating to and in connection with the Application or Card, which are due to circumstances beyond the control of Tonik such as but not limited to prolonged power outages, system breakdown or errors, natural disasters, public disturbances and calamities and other similar or related cases; 

  1. Loss or damage you may suffer arising out of any improper, fraudulent access or utilization of the Application or Card due to theft or unauthorized disclosure of Passwords, ATM PINs, or violation of other security measures with or without your participation; 

  1. Inaccurate, incomplete, or delayed information which you received due to disruption or failure of any communication facilities used for Application or Card services; and 

  1. Such other circumstances or reasons beyond the control of Tonik which effectively prevent Tonik from implementing the transaction. 

  1. The use of the Application or Card will be available 24 hours and 7 days a week, and processing of request is subject to the daily cut-off times for transactions of Tonik or partners. When they are not available for transaction, such as in the case of maintenance or any other reason, Tonik shall notify you in advance or at the soonest possible time. 

  1. You agree to hold Tonik, its stockholders, directors, officers, employees, and representatives free and harmless, as well as indemnify them, from any and all liabilities, claims, damages, suits of whatever nature, arising out of or in connection with the implementation, utilisation (whether authorized or unauthorized) of the Application or Card, including any and all errors inadvertently committed by Tonik employees, any computer-related errors resulting in Tonik’s  failure to effect any instruction via the Application or Card.  

  1. Transactions outside the Philippines shall be subjected to the applicable rules and regulations of the Bangko Sentral ng Pilipinas (BSP) and/or any foreign exchange requirements operating in the country where the transaction is effected.  

  1. In the case of loss of mobile device, you must immediately contact Tonik through its Tonik Customer Care hotline or email for the necessary steps to protect your Application and banking details. 

  1. Any complaint regarding your Card, Account, and/or transactions using the Application or Card shall be communicated by you to Customer Care.  

  1. Your use of the Card will be subject to the following terms and conditions: 

  1. The Card is property of Tonik and Tonik may at any time, without prior notice and without the need to give any reason therefore, terminate the use of, cancel, or repossess the Card, and decline to issue, renew, or replace the Card; 

  1. Without any prior notice to you, Tonik may suspend any Card service or cause designated partners’ ATMs to retain the Card automatically; 

  1. You agree to return the Card to Tonik upon Tonik’s request. 

  1. The Card is valid for five (5) years from issuance and upon expiry, you shall initiate a replacement request. 

  1. Lost, Stolen, or Compromised Cards  

  1. In the event the Card is compromised, lost or stolen, it is your responsibility to immediately lock the Card from the Application and report the loss by contacting Tonik through its Customer Care chat in the Application, Tonik Customer Care hotline or email in order to block the lost Card.  

  1. Prior to receipt by Tonik of your report of loss or theft, all transactions generated by the use of the Card shall be deemed conclusively binding upon you, and Tonik will not be held liable for any loss or damage incurred by you due to your failure to report the loss or theft. 

  1. Retrieval of captured ATM Cards from partner ATMs shall be the responsibility of the Account holder.  

  1. Cards bearing the Mastercard logo can be used for transactions at Mastercard ATMs, POS, and Online Merchants located in countries outside the Philippines, from your Account in the Philippines. You acknowledge that such overseas transactions may be subject to the exchange rate prevailing at the time of the transaction, transaction fees, foreign exchange mark-ups, and the relevant exchange rate governing such transactions that Tonik and/or Mastercard affiliated banks/financial institutions will determine. You authorize Tonik to debit from your Account the amount transacted converted to its Peso equivalent based on the prevailing exchange rate at the time of the transaction. 

  1. If your Card is not honored at BancNet or Mastercard accredited establishments, you agree to hold Tonik free and harmless from any and all claims or liabilities as a result of the refusal of any BancNet or Mastercard accredited establishment. 


  1. Tonik is authorized to collect from you all applicable service charges, penalty charges, and other fees your Account may incur.  

  1. Transactions carried out via the Application or Card are subject to applicable fees and charges at the time of the transaction. Tonik, with prior notice, may from time to time introduce or change fees and charges for the use of the Application or Card. You authorize Tonik to debit from your Account the amount of fees and charges payable for transactions made via the Application or Card. 

  1. Service charges, fees and penalties include but are not limited to, the following: 

  1. Annual fee; 

  1. Fees for Accounts falling below the required maintaining balance; 

  1. Dormancy fee; 

  1. Time Deposit Early Withdrawal fee; 

  1. Card replacement fee; 

  1. Other fees and charges Tonik may impose or introduce from time to time, depending on the policy it may adopt within the limits allowed by law and regulations. 

  1. Accounts with zero balance due to service charges or other causes may be closed by Tonik, as provided in the next section on “Closure of Accounts.”  

  1. Information on service charges and other bank charges are available on the Tonik website and detailed in the Application. Tonik may change service and other bank charges from time to time with prior notice as stipulated by applicable laws. 

  1. Tonik may suspend or terminate Services if at any time there are insufficient funds in the said Account/s to cover applicable fees and charges, without Tonik incurring any liability as a result thereof.  


  1. Accounts can only be closed if there is no outstanding loan or obligations to Tonik. 

  1. If You have opened any Account with Tonik and you have not funded the Account within the first 3 months, Tonik has the right, but not the obligation, to close the account. In addition, if the Account has been opened and funded, yet in the last 3 months or more the account has had less than 1 Peso balance, Tonik has the right, but not the obligation, to close the Account. 

  1. Tonik reserves the right to immediately suspend or close your Account at any time without prior notice in case you misrepresent or falsify information, or if Tonik perceives, at any time and in its sole discretion, that the Account may be, may have been used, or is being used in connection with any fraudulent or illegal activities or transactions. Tonik also reserves the right to immediately close your Account if Tonik perceives, at any time and in its sole discretion, that it may be exposed to any financial, operational, legal, reputational or other risks in maintaining the Account, or if you fail to abide by any provision of the terms and conditions for deposit accounts 

  1. Tonik reserves the right to suspend or close your Account if you have handled your Account in a manner not satisfactory to Tonik or if you perform a successful withdrawal against insufficient funds and/or uncollected deposits. In such event, Tonik shall reimburse the remaining balance of your Account.  

  1. In the event your Account is suspended or closed on the ground that the same is improperly handled, you acknowledge, accept, and agree that Tonik shall report such closure and the reason(s) therefore to the relevant regulatory body or to the regulator accredited credit bureau or organizations to keep record of mishandled deposit accounts. 

  1. Tonik reserves the right to close your Account if the Account has no other instructions or Accounts with balance linked to the Account. 

  1. Tonik, its respective stockholders, directors, officers, employees, and representatives, shall be held free and harmless from any liabilities, claims, and demands of whatever kind in connection with or arising from the closure of your Account and/or Tonik’s reporting of the account closure and the reason therefore to the relevant regulatory body, or any monitoring entity or body established by the relevant regulatory body, or entity established by law to keep record of and monitor mishandled deposit accounts, or regulator accredited credit bureau or organizations. 


  1. Accounts including those with Automatic Transfer Facility options which have no financial transaction for two (2) years or twenty-four (24) months for Savings Accounts shall be classified as DORMANT.  

  1. You will be notified within sixty (60) days prior to change of Account status from active to dormant. Tonik shall charge with prior notice, a dormancy fee on a dormant deposit Account five (5) years after the last activity and when the Account falls below the minimum monthly Average Daily Balance.  

  1. A dormancy fee shall be charged aside from the maintenance fee for falling below the required minimum monthly Average Daily Balance (ADB).  

  1. Pursuant to the provisions of existing laws, all “unclaimed balances” which represent deposits of money and/or interest accrued thereon held by Tonik for any customer who has no further financial transactions for a period of ten (10) years or more, shall be reported and, when so ordered, will be remitted by Tonik to the Treasury of the Philippines, for credit to the  government of the Republic of the Philippines.  

  1. Throughout the dormancy period, Tonik reserves the right to restrict deposit or withdrawal transactions until you provide Tonik with relevant documentation required to lift the restriction. 


  1. Pursuant to the Implementing Rules and Regulation (IRR) of R.A. 9160 or the Anti-Money Laundering Act of 2001, as amended, you grant irrevocable and unconditional authority to Tonik to report to the Anti-Money Laundering Council (AMLC) any covered and suspicious transactions involving your Account. You hold and set free Tonik, its respective stockholders, directors, officers, employees, and representatives in the discharge of their duties in accordance with this law.  

  1. In compliance with the provisions of R.A 1405 or the Law on Secrecy of Bank Deposits, Tonik shall not entertain inquiries or instructions over the telephone or by fax, telegram, or cable message regarding any Account nor through a representative unless authorized in writing by you. 

  1. Tonik shall not be held liable for any loss or damage that may be incurred by you or any third party due to or occasioned by imperfect computer programming procedures or by any defect in the material or workmanship of any computer equipment.  

  1. In case of extraordinary inflation or deflation of the currency stipulated herein, the provision of Article 1250 of the Civil Code shall not apply.  

  1. You agree to be governed and bound by pertinent laws and regulations, such as but not limited to that of the Bangko Sentral ng Pilipinas (BSP), the Anti Money Laundering Council (AMLC), the Bureau of Internal Revenue (BIR), Philippine Clearing House Corporation (PCHC), Philippine Deposit Insurance Corporation (PDIC); as well as the rules of Tonik and any subsequent amendments thereof, and any new rules to be promulgated governing your Account.  

  1. By agreeing to these Terms and Conditions, you agree that such access and/or use of Tonik Services are to be governed by and construed in accordance with the laws of the Philippines. 

  1. If any provision of these Terms and Conditions is found to be void, illegal, invalid, not enforceable, the other provisions of these terms and conditions will remain effective and binding. 

  1. We may amend or supplement these terms at any time with prior notice to you through any method we deem appropriate and suitable before the effective date of the amended Terms and Conditions. The notification will be provided in advance in accordance with the duration stipulated by the prevailing regulations. 

  1. This Terms & Conditions agreement is governed by the regulations of the Bangko Sentral ng Pilipinas and applicable laws of the Philippines. It shall be understood that access to and use of the Service shall be subject to applicable laws and regulations. 

  1. The venue of all legal actions or proceedings arising out of or in connection with these Terms and Conditions shall be brought only in the proper courts of Pasig City, to the exclusion of all other courts and venues. 

For inquiries, contact Tonik through its Customer Care chat in the Application, Tonik Customer Care hotline (+63 2 5322  2645) or through email (customercare@tonikbank.com).