Participants:

a.     New OwnBank Users

b.      Existing OwnBank Upgraded Account Users

Promo Period: July 1, 2024 - July 31, 2024

Coverage Area: Nationwide (via Mobile App)

How to Join:

a. New Users

i.  Download the OwnBank app in the Google Play Store, Apple App Store, or Huawei App Gallery etc.

ii.  Register for an OwnBank account and complete the account upgrade process by fulfilling the KYC requirements.

iii.  Customers use their OwnBank Virtual Debit Card to make a minimum single-receipt online transaction of at least ₱1,000 to get an extra Own It Bonus Interest voucher.

b.  Existing OwnBank Upgraded Account Users

i.  Customers use their OwnBank Virtual Debit Card to make a minimum single-receipt online transaction of at least ₱1,000 to get an extra Own It Bonus Interest voucher.

Mission & Prizes:

Note:

1. Users are eligible to receive only one Own It Bonus Interest voucher per day, with a maximum limit of 30 vouchers during the promo period.  
2. If a user completes multiple missions in a single day, the prize will be determined based on the highest single receipt level achieved.  
3. The rewards accumulated daily throughout the week will be distributed on Tuesday of the next week.
4. The vouchers apply to the user’s Own It savings account and each voucher can be used once.

Deadline for Entries: 11:59 PM, July 31, 2024

Distribution of Rewards:

1. Users who qualify for a mission will receive their ‘Own It Bonus Interest’ voucher in their registered OwnBank account.

2. Users can access this voucher on the ‘Voucher Page’ of their OwnBank app.

Own It Bonus Interest Voucher Mechanics

Note:

1. The Own It Bonus Interest Vouchers shall be used within one year of receiving it.

2. The Own It Bonus Interest Vouchers are redeemable for up to 60 days after the promotional period ends.

3. Interest earned is subject to a 20% withholding tax.

4. To compute the interest earned, the following formula is applied:

• Net Interest Earned = Own It Savings Account Balance x (Base interest per annum +  Bonus interest per annum)/360 less 20% withholding tax.​
  
  Example:
• Gross Interest Earned: ₱150,000 x (0.06+0.01)/360 = ₱29.17
• Tax: ₱29.17 * 20% = ₱5.83
• Net Interest Earned: ₱29.17 - ₱5.83 = ₱23.34
  

TERMS AND CONDITIONS:

1.  Transactions made from the following categories within the promo period are considered qualified:

a.     Local Online Transactions

b.     International Online Transactions
 

2.   However, transactions made from the following are NOT qualified in this campaign:

a.      Online Gambling Transactions: All types of transactions related to online gambling are not eligible for this campaign. This includes, but is not limited to, transactions made on online gambling platforms, purchases of gaming credits or virtual goods, and transactions generated from activities that involve a bet or a game of chance for money or other desired stakes.  

b.      Quasi-Cash or Cash-In Transactions:  Any transactions that are classified as quasi-cash or cash-in transactions will not qualify for this campaign. This includes transactions on Forex platforms such as eToro, digital wallet top-ups such as Grab Wallet and Lazada Wallet, and other similar platforms. Please note that this is not an exhaustive list and other similar transactions may also be classified as quasi-cash or cash-in transactions.  

c.       Trading Services / Remittances: Transactions made on trading platforms or remittance services are not eligible for this campaign. This includes, but is not limited to, stock trading, cryptocurrency trading, and money transfer services.  

d.      Illegal Transactions: Any online transactions related to the purchase of illegal drugs or illegal products are strictly prohibited and will not qualify for this campaign. This includes, but is not limited to, transactions made on online platforms known for drug trade or illegal trade, purchases of substances classified as illegal drugs, purchases of products that are banned or restricted by local laws, and any transactions that are in violation of the local laws.  

3.     Any disputed transactions by the user that initially qualified them for the Own It Bonus Interest voucher, any interest earned from the redeemed voucher will be charged back to their account. The user will be notified via email or phone call that the cost of the redeemed item will be charged to their account.

4.     Only successful, completed, and posted transactions reflected in OwnBank’s system will be considered. Any delay in posting, failed transaction, cancellation, or reversal within the campaign period will not be counted regardless of any cause of the delay or failure. Valid Card Transactions must be performed within the campaign period.

5.     OwnBank reserves the right to disqualify any participating users from the promotion if any fraudulent activity is identified. The bank's decision on all matters relating to the promotion is final and binding.

6.     For any queries related to this promotion, please reach out to the OwnBank Customer Service hotline at +63 (02) 7777 0111 or email us at cs@ownbank.com.ph.  

7.     Any questions or disputes concerning the user's eligibility for the promotion, the redemption process, the coverage of dates, or the fulfillment of rewards will be addressed by OwnBank, in agreement with the Department of Trade and Industry (DTI).

PER DTI FAIR TRADE PERMIT NO. FTEB-194397 SERIES OF 2024