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Terms and Conditions

  1. Definitions
    1. TrueMoney Philippines – refers to True Money Philippines, Inc., a domestic stock corporation incorporated in the Philippines. It is authorized and regulated by Bangko Sentral ng Pilipinas (BSP) as an issuer of electronic money in the Philippines.
    2. TrueMoney Member – an individual who uses the TrueMoney service and whose name appears on the online form or signed enrollment or application form, as may be applicable. Refers also to the Principal Account Holder.
    3. TrueMoney Account – an account that stores Philippine Peso (PhP) value in the TrueMoney Philippines system which may be linked to the Account Holder’s mobile phone and which may be evidenced by a physical card.
    4. TrueMoney Card – the card which is a re-loadable the physical cash card issued by TrueMoney Philippines, which can store and is reloadable with Philippines Peso (PhP) value.
    5. TrueMoney Center – any accredited establishment authorized by TrueMoney Philippines to perform TrueMoney services.
    6. Biller – any accredited company authorized to accept bills payment using the TrueMoney service.
    7. Withdraw – the process of withdrawing physical cash equivalent to its Peso Value from the TrueMoney system.
    8. Short Message Service (SMS) – a communications protocol allowing the interchange of short text messages between mobile telephone devices.
  2. TrueMoney AccountTrueMoney account refers to a reloadable electronic wallet that can be redeemed at indicated value. It is not a depository account, thus is not covered by the Philippine Deposit Insurance Corporation (PDIC) and does not earn interest. Neither shall it not earn monetary rewards and other similar incentives convertible to cash, nor special discount privileges. However, as a financial transaction, it is subject to the rules and regulations of the Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Act (AMLA), under Republic Act No. 9160.TrueMoney Philippines holds responsibility in ensuring that each TrueMoney Member would receive at face value the redeemed amount in Philippine Peso (PhP) at the main office of TrueMoney Philippines. Furthermore, the monetary value is guaranteed regardless if the account has expired, terminated or cancelled or should the company decide to cease operations. Fraudulent transaction or any investigated in relation to a fraudulent case shall forfeit this applicability.In any event of unauthorized use of the service, TrueMoney Philippines shall not be liable for any inconvenience and damage caused to the TrueMoney Member, or a third party. Neither is the company liable for any failure by the TrueMoney Member to avail of the service for whichever reason might be indicated.TrueMoney Philippines may suspend or terminate use of the service for whatever legal reasons it deems proper, and the TrueMoney Member agrees to surrender the TrueMoney card upon demand.TrueMoney Philippines may suspend or terminate the use of the service for whatever reason it deems fit. The TrueMoney Member agrees to surrender the TrueMoney Card upon demand by TrueMoney Philippines. In the event of any suspension, termination or confiscation of the service, the TrueMoney Member agrees to hold TrueMoney Philippines free and harmless from any claim, damages, loss, expenses, suit or liability whatsoever, arising from such suspension, termination or confiscation.
  3. WithdrawalThe amount indicated in the TrueMoney account may be withdrawn from any TrueMoney Center using the TrueMoney Card. Minimum and maximum withdrawal amounts may be imposed by TrueMoney Philippines.
  4. Transaction and Account LimitsPursuant to applicable laws, TrueMoney Philippines may assign or change transaction and/or account balance limits, subject to fifteen (15) days prior notice in the form of an SMS/Text message to TrueMoney Members. The limits assigned by TrueMoney Philippines shall be based on the TrueMoney account, product type, and the completeness of the information provided by the TrueMoney Member to TrueMoney Philippines.
  5. SMS – Short Message ServicesTrueMoney Members shall be automatically signed up for “SMS” (Short Message Service), including text alerts:
    1. A TrueMoney Member agrees and authorizes TrueMoney Philippines to send promotional advertisements of its products and services through mail, short messaging service, multimedia messaging services, electronic mail and other forms of telecommunication, unless it has notified TrueMoney Philippines otherwise.
    2. A TrueMoney Member shall abide and be bound by the instructions and/or procedures of TrueMoney Philippines during the use of SMS. The TrueMoney Member shall have no claim, recourse or remedy against TrueMoney Philippines for any loss, damage and expense incurred arising from non-compliance with such instructions and/or procedures.
    3. A TrueMoney Member shall not hold TrueMoney Philippines responsible or liable for any loss or damage which he/she may incur or suffer, directly or indirectly arising out of or in connection with SMS, due to any reason whatsoever including but not limited to breakdown or malfunction of the computer, its terminal connection lines, data processing system or transmission line, whether or not belonging to TrueMoney Philippines or any circumstances beyond TrueMoney Philippines’ control.
    4. TrueMoney Philippines is entitled to effect any changes to SMS, suspend and/or terminate SMS and to vary SMS at any time upon its sole and absolute discretion without assigning any reason and without prejudice to any of its rights of action for any antecedent breach of these terms and conditions by a TrueMoney Member.
    5. A TrueMoney Member hereby irrevocably agrees to hold free and harmless TrueMoney Philippines, and indemnify TrueMoney Philippines against all actions, claims, demands, liabilities, losses, damages, costs and expenses of whatever nature as a result of agreeing to this section. TrueMoney Philippines shall in no way be liable to a TrueMoney Member for any action the latter takes in reliance on SMS Alerts purporting to be from TrueMoney Philippines, but does not proceed from TrueMoney Philippines’ official SMS Alert number.
  6. Activation and Deactivation of TrueMoney Service FeaturesTrueMoney Philippines may introduce additional service features, and may also deactivate existing features at any time. TrueMoney Philippines may, on a case-to-case basis, suspend or terminate a TrueMoney Member’s privilege to use a particular feature, whenever it deems appropriate, and without prior notice. It covers, but is not limited to, occasions of fraudulent transactions or suspicious activities. However, TrueMoney Philippines may reactivate the said feature and charge a reactivation fee, upon request of the TrueMoney Member. Approval of the request shall be the sole option of TrueMoney Philippines.
  7. Loyalty/Rewards ProgramOn the use of the service, TrueMoney Philippines may formulate a Loyalty/Rewards Program. Individual member’s rights and obligations to the said Loyalty/Rewards Program shall be covered by separate and specific terms and conditions.
  8. Fees, Rates and Other ChargesThe TrueMoney Member shall pay card replacement fees and dormancy fees in such amounts as may be imposed by TrueMoney Philippines to entitle the TrueMoney Member to the use of the TrueMoney service and the privileges that come with it. All fees are non-refundable.The TrueMoney Member agrees to pay other fees and charges and applicable taxes related to the TrueMoney service and its use, as may be imposed by TrueMoney Philippines, such as, but not limited to load and encashment fees. Fees and other charges, as may be applicable, shall be inclusive of all applicable Philippine taxes and shall be debited from the TrueMoney account or paid upfront. Should these fees and other charges result in a debit balance in the TrueMoney account, the amount shall be due and demandable from the TrueMoney Member and/or debited from the TrueMoney account upon the availability or replenishment of funds thereof without prior notice. The amount of fees and charges may be revised from time to time as TrueMoney Philippines may deem necessary.
  9. Disputes of Unauthorized TransactionsTransactions are authorized when any one of the following conditions is met: (a) the TrueMoney Member’s fingerprint has been scanned as identity validation, (b) the TrueMoney Member’s PIN/password is successfully keyed-in, or (c) the TrueMoney Member made a request through the service hotline by dialing (02) 718-9999 or by emailing support@truemoney.com.ph. This shall be efficient evidence that any and all activity has been made and validated, and cannot be disputed by the TrueMoney Member.The details in the SMS/Text confirmation message after transactions are presumed true and correct unless the TrueMoney Member notifies TrueMoney Philippines in writing of any disputes thereon within fifteen (15) days from the date of transaction. If no dispute is reported within the said period, all transactions are deemed true and correct.Disputed transactions shall only be credited back to the TrueMoney Member’s account once the claim/dispute has been properly processed, investigated and proven to be in favor of the TrueMoney Member. There shall be no reversals for erroneous transactions made by the TrueMoney Member.
  10. ComplaintsAny complaints about TrueMoney Philippines or its services should be directed to the service hotline by dialing (02) 718-9999 or by emailing support@truemoney.com.ph. It must clearly state that the TrueMoney Member is filing a complaint, to distinguish the complaint from an inquiry. All complaints and feedbacks will be reviewed and addressed accordingly. Furthermore, this will be used to improve TrueMoney’s business and customer service.
  11. TrueMoney Service SecurityA TrueMoney Member shall be responsible for the security of his/her TrueMoney account, the mobile phone’s Subscriber Identity Module (SIM) and his/her Personal Identification Number (PIN) or password. All transactions made using the service are conclusively presumed made by the TrueMoney Member and the TrueMoney Member shall be responsible thereof. The TrueMoney Member has the option to change his/her PIN/password from time to time or when he suspects the possibility of unauthorized present or future use of the account.
  12. Loss and Theft of the TrueMoney CardSecurity and proper care of the TrueMoney account, as well as the confidentiality of his/her PIN and password, shall be the TrueMoney Member’s sole responsibility.
    1. Loss – In case of loss, TrueMoney Member shall immediately inform TrueMoney Philippines within twenty-four (24) hours through the service hotline of such loss, via telephone or through a written report submitted to the company. Cancellation of the TrueMoney Card shall be processed, only upon proper authentication of the phone call or the signature in the written report, as the case may be. All purchases and transactions made through the use of the service prior to the report of loss shall continue to be the liability of the TrueMoney Member. A replacement TrueMoney Card may also be created at the cost of the TrueMoney Member In addition, the lost TrueMoney Card will be cancelled and deactivated. The TrueMoney Member shall have no claim, recourse or remedy against TrueMoney Philippines for any loss, damage and expense incurred arising from non-compliance with such instructions and/or procedures.
    2. Found – If the company discovers that the TrueMoney Member used both new and old cards for any fraudulent transactions, the issue shall be dealt with in accordance to Article 15.
    3. Theft – In case of theft, TrueMoney Member shall immediately inform TrueMoney Philippines within one (1) hour through the service hotline of such loss, via telephone or through a written report submitted to the company. Cancellation of the TrueMoney Card shall be processed, only upon proper authentication of the phone call or the signature in the written report, as the case may be. All purchases and transactions made through the use of the service prior to the report of loss shall continue to be the liability of the TrueMoney Member. A replacement TrueMoney Card may also be created at the cost of the TrueMoney Member. The TrueMoney Member shall have no claim, recourse or remedy against TrueMoney Philippines for any loss, damage and expense incurred arising from non-compliance with such instructions and/or procedures.
  13. Fraudulent Transactions
    1. Blocked Account – In the event that TrueMoney Philippines detects or uncovers fraudulent and/or suspicious transactions or use by an unauthorized person, the company shall have the right to automatically suspend or block the TrueMoney account. The company is not obligated to inform the TrueMoney Member regarding this action. Furthermore, the TrueMoney Member acknowledges the authority of TrueMoney Philippines to suspend or block the TrueMoney account, and shall not hold the company accountable against any undue consequences due to suspension or block, nor any loss or damage thereof. Also, TrueMoney Philippines reserves the right to report any suspicious activities to the relevant law enforcement agencies.
    2. Discretion – In lieu of other provisions, without giving any reason or notice, TrueMoney Philippines reserves absolute discretion (a) to refuse to approve any proposed TrueMoney transaction even if there is sufficient available balance, (b) to suspend, terminate, or cancel the TrueMoney Member’s right to use the account, (c) to increase or decrease the balance limit, (d) to refuse to reissue, renew or replace the TrueMoney account and/or (e) to introduce, amend, vary, restrict, terminate or withdraw the benefits, services, facilities and privileges with respect to or in connection with the TrueMoney account, whether specifically relating to the TrueMoney Member, or generally to all or specific TrueMoney Members, but subject to Article 26 below. This shall apply, but is not limited, in the event:
      1. of any fault or failure in the data information processing system;
      2. that the company reasonably believes these accounts have been used, or are likely to be used or the TrueMoney Member allowed them to be used, in breach of this Agreement or to commit an offence;
      3. that any Remaining Balance may be at risk of fraud or misuse;
      4. that the company suspects a TrueMoney Member provided false or misleading information;
      5. that the company suspects that the account may be used to make fraudulent or suspicious transactions or be used by an unauthorized person; and
      6. of an order or recommendation of the Philippine National Police, other law-enforcement agencies, or any relevant governmental or regulatory authority.
  14. Expiry, Renewal, Reinstatement, Dormancy, and Cancellation of Account
    1. Expiry – The TrueMoney Member shall not use the TrueMoney account after the expiry date indicated thereon. Renewal of the TrueMoney account shall be subject to the approval of TrueMoney Philippines. A TrueMoney account which has been suspended by TrueMoney Philippines may be reinstated by the latter at its option. The TrueMoney Member’s continued use upon suspension, termination or expiration shall be considered a fraudulent act and will be grounds for criminal action. TrueMoney Philippines reserves the right to charge a dormancy fee or not to renew, temporarily or permanently, the service upon expiration, cancellation or suspension, if the TrueMoney account remains inactive and/or not loaded over a fixed period of time as may be required by TrueMoney Philippines.
    2. Cancellation – The TrueMoney Member may elect to cancel his/her account even before the set expiry date. The TrueMoney Member concerned must call or provide a written notice of cancellation to TrueMoney Philippines. Customer Services shall immediately suspend all further use of his/her account, within one (1) working day upon notice. Once the accounts have been cancelled, it will be the TrueMoney Members’ responsibility to destroy the TrueMoney Card in possession. Any possible fraudulent transactions exacted due to loss, theft, or failure to destroy the card shall not be the accountability of TrueMoney Philippines, nor shall the company hold legal responsibility.
    3. Remaining Value – Any peso value remaining in the TrueMoney account after cancellation and/or expiration shall be processed by TrueMoney Philippines according to the rules set forth by the Bangko Sentral ng Pilipinas (BSP).
  15. Termination of TrueMoney ServiceShould (a) the TrueMoney Member fail to comply with the Terms and Conditions provided herein or for any reason fail to renew the TrueMoney account or the TrueMoney account is not renewed by TrueMoney Philippines, (b) the account contains suspicious/fraudulent activity or (c) the TrueMoney Member dies or becomes insolvent, however evidenced, the right to use the TrueMoney account shall be terminated without prior notice and any aggregate and unpaid charges, fees and other expenses for which the TrueMoney Member is liable shall immediately become due without need of demand and may be immediately debited without prior notice from any remaining funds, money and assets of the aforementioned TrueMoney Member.
  16. Change of Telephone Numbers/AddressThe TrueMoney Member shall immediately notify TrueMoney Philippines via telephone or written notice of any changes in his/her residence, office or mailing address and/or telephone numbers.
  17. Change of NameThe TrueMoney Member, within seven (7) days of a court decision or registered marriage, shall immediately notify TrueMoney Philippines by sending a written notice of any changes in the name of the TrueMoney Member. The TrueMoney Member shall likewise attach certified true copies of the necessary documents, such as but not limited to marriage certificate or court order, as proof or evidence of such change.
  18. Exclusion from LiabilityTrueMoney Philippines makes no warranty, express or implied, regarding the performance or functionalities of the service offered hereunder. The service is offered on an “AS IS”, “AS AVAILABLE” basis without warranties of any kind, other than warranties that are incapable of exclusion, waiver or limitation under the laws applicable to this terms. Without limiting the generality of the foregoing, TrueMoney Philippines makes no warranty (1) as to the content, quality or accuracy of data or information provided by TrueMoney Philippines hereunder or received or transmitted using the TrueMoney service functionalities, (2) as to any service or product obtained using the service functionalities, (3) that the service will be uninterrupted or error-free or (4) that any particular result or information will be obtained.TrueMoney Philippines shall not be liable for any loss, costs, compensation, damage or liability to the TrueMoney Member or third party arising directly or indirectly as a result of any or all of the following:
    1. Refusal of TrueMoney Philippines, or any bank, financial institution, ATM or Merchant and the likes to allow, accept or honor the TrueMoney Card.
    2. The service is honored by any bank, financial institution, ATM or merchant; however, payment transaction is not authorized for any reason whatsoever.
    3. TrueMoney Member is unable to perform or complete any transaction thru the use of any device due to service/system/line unavailability.
    4. Any delay, interruption or termination of the service transaction whether caused by administrative error, technical, mechanical, electrical or electronic fault or difficulty or any other reason or circumstance beyond TrueMoney Philippines’ control (including but not limited to acts of God, strike, labor disputes, fire disturbance, action of government, atmospheric conditions, lightning, interference or damage by third parties or any change in legislation).
    5. Theft or unauthorized use of the TrueMoney account or any loss, costs, damages or payables to any third party by the TrueMoney Member.
    6. Any misrepresentation or fraud by or misconduct of any third party, such as but not limited to owners or employees of TrueMoney Centers.
    7. Other analogous transactions that may affect, harm, and/or damage the reputation, processes, or integrity of the TrueMoney services, TrueMoney Philippines, and the TrueMoney Member, if not specified or indicated in this Terms and Conditions.
  19. Limitation of LiabilityIn the event of any action that the TrueMoney Member may file against TrueMoney Philippines, the TrueMoney Member agrees that TrueMoney Philippines’ liability shall not exceed One Thousand Pesos (P1,000.00) or the amount of damages actually suffered by the TrueMoney Member, whichever is lower.
    1. Indemnity Clause – The TrueMoney Member shall reimburse TrueMoney Philippines for all actions, proceedings and claims which may be brought by or against the TrueMoney Philippines, and all losses, damages and reasonable amounts of costs and expenses which TrueMoney Philippines may incur or suffer as a result of or in connection with its providing services to TrueMoney Member under this Agreement, unless due to TrueMoney Philippines’ gross negligence or willful default and only to the extent of direct and reasonably foreseeable loss and damage (if any) arising directly and solely from it.
  20. Consent to Processing of InformationThe TrueMoney Member authorizes and gives consent to the TrueMoney Philippines, its associates, affiliates, subsidiaries, officers, employees, lawyers and other related persons as the company deems necessary for the following:
    1. collect and verify any information about the TrueMoney Member from any third party;
    2. collect, process, store, record, organize, update, modify, block, erase and destroy (collectively referred to as “process”) the TrueMoney Member’s personal and account information with the company and any information the company obtains from third parties, including account information with other financial or non-financial institutions;
    3. transfer, disclose and use the TrueMoney Member’s personal and account information (including information that the company obtains from third parties, such as other financial or non-financial institutions), to, between and among its Authorized Third Parties, other financial or non-financial institutions or the outsourced service providers of such entities, wherever situated, or a Government Requirement, for any lawful purpose such as business development, data processing, analysis and management, surveys, product and service offers, marketing activities, risk management purposes, and compliance with laws
    The above consent applies for the duration of and even after the closure or cancellation of the account/s. The consent will be effective despite any applicable nondisclosure agreement.The TrueMoney Member acknowledges that information relating to him/her and his/her accounts, including Confidential Information, may be transferred to jurisdictions which do not have strict data protection or data privacy laws.The TrueMoney Member declares that he has provided any notices, consents and waivers necessary to permit the company, its Authorized Third Parties to carry out the actions described in this provision.The TrueMoney Member also agrees to hold TrueMoney Philippines free and harmless from any liability that may arise from the processing and use of the personal and account information, and other information pertaining to the account.
  21. Venue of LitigationVenue of all suits shall either be at Makati City or at any location at the exclusive option of TrueMoney Philippines.
  22. Non-Waiver of RightsFailure, omission, or delay on the part of TrueMoney Philippines to exercise its right or remedies under these Terms and Conditions shall not operate as a waiver. Any such waiver shall be valid only when reduced in writing and delivered to the TrueMoney Member.
  23. Separability ClauseShould any term or condition in this Agreement be rendered void, illegal or unenforceable in any respect under any law, the validity, legality, and enforceability of the remaining terms and conditions shall not be affected or impaired thereby.
  24. AmendmentsTrueMoney Philippines may at any time and for whatever reason it may deem proper amend, revise or modify these Terms and Conditions without further notice. TrueMoney Philippines shall notify TrueMoney Members of pertinent changes to these Terms and Conditions via SMS or email. The TrueMoney Member’s continued use of the TrueMoney service after any such change constitutes acceptance of the new Terms and Conditions. Failure to notify TrueMoney Philippines of the TrueMoney Member’s intention to terminate his/her account shall be construed as acceptance by the TrueMoney Member of the amendment to these Terms and Conditions.
  25. AgreementThe TrueMoney Member agrees to be bound by the Terms and Conditions governing the issuance and use of the TrueMoney service. A TrueMoney Member’s signature on activation or use of the TrueMoney Card shall also be deemed as acceptance of and agreement to be bound by these Terms and Conditions and such amendments hereof as may be made by TrueMoney Philippines from time to time. These Terms and Conditions shall bind the members and their heirs, executors and administrators, successors and assignees, for legal accountability and documentary purposes. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines.Should the TrueMoney Member disagree with the Terms and Conditions stated herein, the TrueMoney Member shall irreparably-damage the issued TrueMoney Card in possession, if applicable, and call or provide a written notice of cancellation to TrueMoney Philippines. Within seven (7) working days, TrueMoney Philippines shall acknowledge the cancellation in either email, written notice, and/or SMS message. Otherwise, the TrueMoney Member shall continue to be liable for all charges incurred through the use of the TrueMoney service.

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