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    BPI02 - BPI Payroll Waiver Form (Annex A)

    Uploaded by

    Icelle Isidera
    This document designates the employee's payroll account for a payroll arrangement between their employer, TI (Philippines), and Bank of the Philippine Islands. It authorizes the bank to share account information with the employer, waive minimum balance requirements, and debit the account to correct errors. It also holds the bank harmless if the payroll arrangement ends or the account is closed for reasons like fraud. Finally, it allows the bank to convert the account to a regular one if no payroll credits are made for 6 months.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    BPI02 - BPI Payroll Waiver Form (Annex A)

    Uploaded by

    Icelle Isidera
    331 views1 page
    This document designates the employee's payroll account for a payroll arrangement between their employer, TI (Philippines), and Bank of the Philippine Islands. It authorizes the bank to share account information with the employer, waive minimum balance requirements, and debit the account to correct errors. It also holds the bank harmless if the payroll arrangement ends or the account is closed for reasons like fraud. Finally, it allows the bank to convert the account to a regular one if no payroll credits are made for 6 months.

    Original Description:

    Payroll Waiver Form (Annex A)

    Original Title

    BPI02_BPI Payroll Waiver Form (Annex A)

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    © © All Rights Reserved

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    This document designates the employee's payroll account for a payroll arrangement between their employer, TI (Philippines), and Bank of the Philippine Islands. It authorizes the bank to share account information with the employer, waive minimum balance requirements, and debit the account to correct errors. It also holds the bank harmless if the payroll arrangement ends or the account is closed for reasons like fraud. Finally, it allows the bank to convert the account to a regular one if no payroll credits are made for 6 months.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    331 views1 page

    BPI02 - BPI Payroll Waiver Form (Annex A)

    Uploaded by

    Icelle Isidera
    This document designates the employee's payroll account for a payroll arrangement between their employer, TI (Philippines), and Bank of the Philippine Islands. It authorizes the bank to share account information with the employer, waive minimum balance requirements, and debit the account to correct errors. It also holds the bank harmless if the payroll arrangement ends or the account is closed for reasons like fraud. Finally, it allows the bank to convert the account to a regular one if no payroll credits are made for 6 months.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Annex A

    (To be accomplished and signed by each employee to the Branch upon Payroll Account Opening or nomination of account as
    a Payroll account)

    To: The Bank of the Philippine Islands


    ______________________ Branch

    I hereby designate my payroll account in connection with the Payroll/Company Credits Arrangement (herein referred to as
    the “Arrangement”) between the Bank of the Philippine Islands (herein referred to as the “Bank”) and TI (Philippines), Inc.
    (herein referred to as the “Company”), of which I am an employee. In this connection, I hereby authorize the Bank to provide
    the details of my designated payroll account to the Company. I hereby acknowledge that the minimum maintaining deposit
    balance requirement for my designated payroll account shall be waived for as long as the aforesaid payroll arrangement with
    the Company remains in effect and I continue to be employed by the Company.

    It is further understood and agreed that once the Company’s payroll arrangement with the bank is terminated, or upon
    instruction from the Company, or when the Bank incurs loss or damage arising from acts which, in the Bank’s sole
    determination and judgment, constitute mishandling, evident bad faith or fraud, the Bank shall have the right to immediately
    close the aforesaid payroll account and/or lift the waiver on the minimum maintaining balance requirements without need of
    prior written notice, demand or consultation, all of which I hereby expressly waive. The Bank is, however, authorized to
    provide the Company information regarding the circumstances arising from the closure/suspension of my payroll account.

    I hereby irrevocably authorize the bank to debit, without notice, my payroll account for whatever amount(s) necessary to
    effect any adjustment(s) on what has been credited to said payroll account for reason(s) of correction(s) or any error(s) or
    mistake(s) that may have been committed in the Company’s payroll preparation or in the Bank’s crediting.

    Further, I hereby irrevocably authorize the Bank to disclose and share information to the Company about me, my payroll
    account and all deposits/credits made thereto to establish the payments/credits made by Company to me and for such other
    reasons in connection with this Arrangement. I likewise authorize the Bank to disclose and share information about me, my
    payroll account and my transactions which are necessary or appropriate to facilitate administer or implement the purposes
    and intentions of this Arrangement or those that may relate to or arise therefrom, as and when required by circumstances, or
    as may be required or allowed by applicable laws, bank policies, government regulatory rules and regulations. The authority
    and consent given herein is deemed to be the consent required under the bank deposit confidentiality laws in the Philippines
    including but not limited to RA 1405 (The Law on Secrecy of Bank Deposits), RA 6426 (The Foreign Currency Deposit Act)
    and RA 8791 (The General Banking Law) and the consent required under the data privacy laws of the Philippines including,
    but not limited to, RA 10173 (The Data Privacy Act).

    If, for whatever reason, no payroll credits are made to my payroll account for a period of six (6) consecutive calendar months,
    the Bank shall have the absolute right and is hereby authorized, at the Bank’s option and without need of further notice to,
    demand or consultation with the Company or with me, to automatically change my payroll account status to that of a regular
    deposit account. I hereby agree that the authorities and the indemnification herein shall remain valid and effective
    notwithstanding the change of status the payroll account to a regular deposit account or closure / suspension of the account or
    termination of the Company’s payroll arrangement.

    By signing this BET Payroll Waiver, I hereby agree to indemnify and hold the Bank, its parent, subsidiaries, affiliates, its
    respective directors, stockholders, officers, employees, representatives, agents, service providers and such other persons or
    entities engaged by the Bank, under an obligation of confidentiality, free and harmless from any and all liability, claims,
    demands, actions, proceedings, losses, expenses and all other liabilities of whatsoever nature or description which may be
    suffered or incurred by the Bank, its subsidiaries, affiliates, its respective directors, stockholders, officers, employees,
    representatives, agents, service providers and such other persons or entities engaged by the Bank or by its subsidiaries or
    affiliates arising from or in connection with the implementation of the foregoing authorization and waiver.

    Very truly yours,

    ______________________________ ______________________________ ______________________________


    Employee Name Signature Date

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