Get cash easily and enjoy low monthly interest with your BankCom Credit Card!

PROGRAM MECHANICS

1. The Get Cash Program is open to cardholders of Bank of Commerce Credit Card whose accounts are active and current (“Cardholder”).
2. The Get Cash Program is a facility that allows the Cardholders to avail of cash charged to their Bank of Commerce Credit Card and pay on installment.
3. The Get Cash Amount inclusive of the Interest Amount must be within the available credit limit. The required minimum amount and monthly add-on rate shall be as follows:

 

4. To apply, the Cardholder must call Bank of Commerce Customer Service at (02) 8632-2265, or Domestic Toll- free numbers: (PLDT) 1-800-10-9826000 or (Globe Lines) 1-800-8-9826000.
5. The application shall be subject to evaluation and approval by the Bank. Application shall be processed within three (3) banking days. If approved, the proceeds shall be released via Manager’s Check and shall be deposited to the Cardholder’s Current Account or Savings Account (CA/SA) within three (3) banking days from date of approval.
6. The Cardholder may avail of the Get Cash Program at any Bank of Commerce branches. The monthly add-on rates are as follows:

 

7. If approved, the proceeds shall be released to the Cardholder on the same
8. An Installment Processing Fee of PHP 200 shall be charged to the cardholder’s Bank of Commerce Credit Card and shall reflect in the Cardholder’s next statement of account.
9. Bank of Commerce shall have the absolute and exclusive right to approve or reject Get Cash applications. Also, Bank of Commerce has the sole discretion to approve only a portion of the amount applied for.
10. The Get Cash Program shall not earn rewards
11. In case of pre-termination or cancellation of the Get Cash availment, the cardholder shall be liable to pay in full the unpaid principal component of the Total Amount Payable and an Installment Pre-Termination Fee equivalent to PHP 1,000.

TERMS AND CONDITIONS

In these Terms and Conditions Governing the Get Cash Program (“Terms and Conditions”), the term “Card” means all credit cards issued by Bank of Commerce (“Bank”). The term “Cardholder” means the person at whose request one or more Cards have been issued by the Bank. The Cardholder hereby agrees to the following Terms and Conditions:

1. The Get Cash Program is a special Cash Advance facility wherein select Cardholders of good credit standing may avail of cash charged to the Card together with applicable interest and other fees to be paid for by the Cardholder on an installment basis. The Bank may at its option require a minimum cash advance amount to qualify for Get Cash. The Get Cash request will be subject to verification and credit approval by the Bank. The approved Get Cash Amount and the corresponding Get Cash Interest Amount must not exceed the unused portion of the Cardholder’s Bank of Commerce Card Installment Limit.
2. Where the Bank approves a request for Get Cash, the total Get Cash amount (“Total Get Cash Amount”) shall be subject to these Terms and Conditions and all applicable terms and conditions under the Terms and Conditions Governing the Issuance and Use of Bank of Commerce Credit Card and all related provisions of the Installment Plan.
3. The monthly Get Cash due (the “Monthly Installment Due”) forms part of the minimum amount due in the statement of account of the Card. The regular Monthly Installment Due is computed as the total amount payable (the “Total Amount Payable”) divided by the term (the “Term”, i.e. number of months within which such amount must be paid) chosen by the Cardholder. The Total Amount Payable is computed as the Total Get Cash Amount plus the total amount of Get Cash interest due. The total amount of interest due (“Total Interest Due”) on the Total Get Cash Amount is computed as the sum of interest charged monthly throughout the Term chosen by the Cardholder.

The following is a sample computation for 12-month term:

The computation of interest and principal components of the Monthly Installments Due shall be on a diminishing balance basis, and the interest and principal portions of the Monthly Installments Due will not be equal from month to month.

The first Monthly Installment Due shall be billed to the Cardholder beginning on the Cardholder’s next statement date and succeeding Monthly Installments Due shall be billed every month thereafter until the Total Amount Payable is paid in full.

GET CASH SAMPLE SCHEDULE OF PAYMENT

 

 

SUMMARY SCHEDULE OF FEES AND CHARGES

Installment Processing Fee                                                                           PHP 200

Installment Pre-Termination Fee                                                                    PHP 1,000

4. The Cardholder agrees to pay the Bank interest on the Total Get Cash Amount on the dates specified in the Statement of Account at the applicable monthly add-on rate with a corresponding effective interest rate per annum based on the outstanding principal balance when the respective Statement of Account is generated and the Term as follows:

REGULAR MONTHLY ADD-ON RATES AND ANNUAL EFFECTIVE INTEREST RATES

 

PROMOTIONAL MONTHLY ADD-ON RATES AND ANNUAL EFFECTIVE INTEREST RATES

 

NOTE: RATES ABOVE ARE SUBJECT TO CHANGE BY BANK OF COMMERCE

If the Cardholder pays only a portion of his Total Amount Due as indicated in the Statement of Account, the unpaid portion of the Monthly Installment Due shall be subject to Finance Charge at the prevailing interest rates. The usual late payment charge applies.

In case of pre-termination or cancellation of Get Cash by the Cardholder, the remaining principal balance shall be accelerated and shall form part of the Minimum Amount Due. An Installment Pre-Termination Fee of Php1,000 shall be charged to the cardholder’s Bank of Commerce Credit Card.

If the Card is 90 days or more past due, the Get Cash will be cancelled, and any remaining unpaid balance will be billed to the Card in full as a regular retail transaction. Once billed in full, the remaining balance will be subject to Finance Charge.

5. Except insofar as they may be inconsistent with these Terms and Conditions, the provisions of the Cards T&C shall continue to apply to the Total Get Cash Amount applied under the Get Cash Facility. These Terms and Conditions shall be read and construed with the Cards T&C to produce a result that is harmonious and consistent; Provided, that in the event of any inconsistency or conflict between the provisions of these Terms and Conditions and the Cards T&C, the provisions of these Terms and Conditions shall prevail in relation to the Total Get Cash Amount applied under the Get Cash Unless clearly and unambiguously provided in these Terms and Conditions, there shall be no diminution of the obligations of the Cardholder under the Cards T&C.