Bank of Commerce

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USD - PHP
BUY55.45
SELL55.85

Maximize your cashback potential for your MILLIONS with BankCom!

HomePromotionsMaximize your cashback potential for your MILLIONS with BankCom!

NEW PROMO ALERT: MAX YOUR MILLIONS! - Earn Php2,000 on your first million...and more!

Max Your Millions
Terms and Conditions

1. The Bank of Commerce (BankCom) “Max Your Millions” Promo will run from October 1, 2023 to January 31, 2024.

2. The Max Your Millions is open to all existing and new-to-bank, individual and non-individual BankCom depositors who open a new “Savings Account with Passbook” in Philippine Peso currency.

3. The following deposit accounts are excluded to join the “Max Your Millions” Promo:

    1. Savings Account with Debit Card (Mastercard)
    2. Savings Account Plus
    3. Checking Account
    4. Complete Checking Account
    5. ElitePlus Checking Account
    6. Executive Payroll Account
    7. US Dollar Savings Account
    8. Euro Savings Account
    9. Yuan Savings Account
    10. Junior Smart Savers Savings Account
    11. One Passbook Investment Account
    12. Time Deposit
    13. One-Year Time Deposit
    14. Future Secure Time Deposit
    15. US Dollar Time Deposit
    16. Euro Time Deposit
    17. SSS Pension Account
    18. US Veterans Pension Savings Account (Peso and Dollar)
    19. Payroll Savings Account
    20. Philippine Retirement Authority (PRA) Savings
    21. Time Deposit Accounts (Peso and Dollar)
    22. Cash Card (Mastercard)
    23. Corporate Savings Account
    24. Corporate Savings Account Plus
    25. Corporate Checking Account
    26. Corporate Checking Account Plus with Corporate Access Number

4. Qualified depositors will receive cash incentives for every increase in their Monthly Total Deposit Average Daily Balance (ADB) of their deposits of at least PHP 1,000,000.00.

5. Eligibility Rules:

    1. Qualified depositors (Individuals and Non-individuals) must open a new “Savings Account with Passbook” to join the Max Your Millions Promo.

      • For Individuals, the Savings Account with Passbook must be a single name account only.
      • Joint accounts, Treasurer-in-trust(TIT) for accounts, In-Trust-For(ITF) accounts, and accounts with restriction are not eligible to join.
    2. Deposits must be fresh funds and not sourced from existing BankCom deposit accounts.
    3. Qualified depositors (individuals and non-individuals) must register their participation to the “Max Your Millions” Promo by: (i) indicating their newly-opened Passbook Saving Account No. in the space provided below (“enrolled Savings Account with Passbook”) and (ii) signing this Terms and Conditions.
    4. Each qualified depositor may register/enroll one (1) Savings Account with Passbook only.

6. Cash Incentive Qualifications:

Total Incremental ADB deposit growth amounting to PHP 1,000,000.00 and above will be eligible to earn a cash incentive. Total incremental ADB deposit growth is computed as follows:

  1. For existing depositors.
    • Total Incremental Deposit ADB Growth = Baseline Total Deposit ADB – Month-End Total Deposit ADB.

Sample Illustration 1: Computation for Total Incremental Deposit Growth

Total Incremental Deposit
Average Daily Balance
Baseline Total Deposit
Average Daily Balance
Month-End Total Deposit
Average Daily Balance
PHP 1,000,000.00
PHP 1,000,000.00
PHP 2,000,000.00
    • Baseline Total Deposit ADB = Total ADB of all existing deposit accounts from January 1, 2023, to September 30, 2023

Sample Illustration 2: Computation for Baseline Total Deposit ADB

Maintained Deposit Account ADB from
January 1, 2023 – September 30, 2023
Regular Checking Account PHP 500,000.00
Time Deposit PHP 1,000,000.00
Regular Savings Account PHP 500,000.00
Total PHP 2,000,000.00

*PHP 2,000,000.00 will serve as Baseline Total Deposit ADB

  • Month-End Total Deposit Average Daily Balance will be computed as follows:
    • In the first month of joining the promotion, the Month-End Total Deposit Average Daily Balance (ADB) equals the total ADB of all existing deposit accounts from the date of joining the promotion until the end of the month.

Sample Illustration 3: Computation for joining the promo.

Month-End Total Deposit Average Daily Balance Total Deposits
Average Daily Balance (upon joining)
Total Incremental Deposit Average Daily Balance
PHP 3,000,000.00 PHP 2,000,000.00 PHP 1,000,000.00

*Please see Annex A for the list of deposit accounts that will be included in the computation of the Total Deposit Average Daily Balance.

    • In the succeeding month of the promotional period, the Month-End Total Deposit Average Daily Balance (ADB) equals the Total ADB of all existing deposit accounts from the 1st day of the succeeding month until the end of the month.

Sample Illustration 4: Computation for Succeeding month ADB.

Previous Month Total Deposit Average Daily Balance Currently Month
Average Daily Balance
Total Incremental Deposit 
Average Daily Balance
PHP 3,000,000.00 PHP 4,000,000.00 PHP 1,000,000.00
b. New to Bank depositor
    • The date of joining the promotion and the deposited amount will serve as the baseline for calculating the month-end average daily balance.
 Sample Illustration 5: Computation for New-To-Bank.
Date of Joining Deposited Amount No. of days until Month-End Month-End
Average Daily Balance
August 15 PHP 2,000,000.00 16 PHP 1,032,258.06

*(Account balance X No. of days Until Month-End)/No. of days of the month)

    • In the succeeding month of the promotional period, the Month-End Total Deposit ADB equals the Total ADB of all existing deposit accounts from the 1st day of the succeeding month until the end of the month. (Please refer to sample illustration 4)

c. Deposit growth must be sourced from the enrolled “Savings Account with Passbook”. Growth sourced from other deposit accounts will not be eligible to receive cash incentive.

Sample Illustration 6-1: Computation for Baseline Total Deposit ADB

Maintained Deposit Account Previous Month
Average Daily Balance
Month End Average Daily Balance Total Incremental Deposit Average Daily Balance
Regular Checking Account PHP 500,000.00 PHP 1,000,000.00 PHP 500,000.00
Time Deposit PHP 1,000,000.00 PHP 1,500,000.00 PHP 500,000.00
Savings Account with Passbook

(enrolled account)

PHP 1,000,000.00 PHP 1,000,000.00 PHP 0.00
Total PHP 2,500,000.00 PHP 3,500,000.00 PHP 1,000,000.00

*Depositor is not eligible to receive cash incentive since growth of deposit came from other deposit accounts not in the enrolled “Savings Account with Passbook”.

Sample Illustration 6-2: Computation for Baseline Total Deposit ADB

Maintained Deposit Account Previous Month Average Daily Balance Month End Average Daily Balance Total Incremental Deposit Average Daily Balance
Regular Checking Account PHP 500,000.00 PHP 500,000.00 PHP 0.00
Time Deposit PHP 1,000,000.00 PHP 1,000,000.00 PHP 0.00
Savings Account with Passbook

(enrolled account)

PHP 1,000,000.00 PHP 2,000,000.00 PHP 1,000,000.00
Total PHP 2,500,000.00 PHP 3,500,000.00 PHP 1,000,000.00

*Depositor is eligible to receive cash incentive since growth of deposit came from the enrolled “Savings Account with Passbook” and not from other deposit accounts.

d. Foreign currency deposit accounts will be converted to Philippine pesos and will be part of the Total Deposit Average Daily Balance.

Sample Illustration 7: Conversion from foreign currency to Philippines Peso.

Foreign Currency Account Month End Average Daily Balance Conversion Rate Amount in PHP
USD 10,000.00 PHP 55.00 PHP 550,000.00

*Conversion rate of PHP 55.00 is for sample purpose only.

e. Cash incentives will only be credited to the enrolled “Savings Account with Passbook”.

f. Qualified depositors may be eligible to earn the following cash credits:

    • PHP 2,000.00 for the first PHP 1 Million in incremental total deposit ADB growth
    • PHP 1,000.00 for succeeding total deposit ADB growth in PHP 1 Million increments

Sample Illustration 7: Computation for Cash Incentive

Previous Month ADB MONTH END ADB ADB GROWTH CASH INCENTIVE
PHP 1,000,000.00 PHP 3,000,000.00 PHP 2,000,000.00 PHP 3,000.00

g. For the succeeding months within the promotional duration period of this promo, the highest Monthly ADB will serve as the baseline to receive additional cash incentives after the first month of the promo.

7. Cash Incentives will be credited to the eligible “Savings Account with Passbook” within 30 days after each month.

8. The depositors who participate in this “Max Your Millions” Promo agree to disclose their information and have the same processed, disclosed or submitted by Bank of Commerce to Bangko Sentral ng Pilipinas (BSP), Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR) or any other government agency.

9. The depositors hold Bank of Commerce and its directors, officers, employees, agents, representatives and successor-in-interest free and harmless and shall indemnify Bank of Commerce and its directors, officers, employees, agents, representatives and successor-in-interest from all liabilities, claims, damages, losses, suits or causes of action and other expenses arising out of or in connection with the participation in the “Max Your Millions” Promo.

10. This “Max Your Millions” Promo cannot be used/availed in conjunction with other on-going promo of BankCom.

11. All cash incentive will be subject to final tax of 20% that will be shouldered by the depositor.

12. All questions or disputes regarding the depositor’s eligibility for the “Max Your Millions” Promo shall be resolved by BankCom. In case of disputes relating to the said promo, the decision of BankCom shall be conclusive with the approval of the DTI.

By joining the “Max Your Millions” Promo , as a depositor of Bank of Commerce, I confirm that the promo mechanics have been explained to me by a BankCom personnel and that I have fully read, understood, and agreed to the mechanics of the “Max Your Millions” Promo.

Enrolled Savings Account with Passbook Number:

Depositor’s Signature over printed name:                                                            Date:

ANNEX “A”: LIST OF DEPOSIT ACCOUNTS.

  1. Savings Account with Debit Card (Mastercard)
  2. Savings Account Plus
  3. Savings Account with Passbook
  4. Checking Account
  5. Complete Checking Account
  6. ElitePlus Checking Account
  7. Executive Payroll Account
  8. US Dollar Savings Account
  9. Euro Savings Account
  10. Yuan Savings Account
  11. Junior Smart Savers Savings Account
  12. One Passbook Investment Account
  13. Time Deposit
  14. One-Year Time Deposit
  15. Future Secure Time Deposit
  16. US Dollar Time Deposit
  17. Euro Time Deposit
  18. SSS Pension Account
  19. US Veterans Pension Savings Account (Peso and Dollar)
  20. Payroll Savings Account
  21. Philippine Retirement Authority (PRA) Savings
  22. Time Deposit Accounts (Peso and Dollar)
  23. Cash Card (Mastercard)
  24. Corporate Savings Account
  25. Corporate Savings Account Plus
  26. Corporate Checking Account
  27. Corporate Checking Account Plus with Corporate Access Number

Per DTI Fair Trade Permit No. FTEB-177144 Series of 2023

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Bank of Commerce is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph
Access BSP Online Buddy (BOB) through BSP’s official website (Webchat)
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