This PDS helps you decide whether to acquire and use the VBank Account (the “Account”) and VBank Mobile App (the “App”). It does not take into account your objectives, financial situation, or needs. Please consider whether this product is right for you and seek independent advice if needed.
- About this PDS
This PDS is issued by Vigan Banco Rural Incorporada (VBRI / VBank), a rural bank regulated by the Bangko Sentral ng Pilipinas (BSP). It describes key features, benefits, risks, fees, limits, and dispute resolution for the Account and its App. Any advice herein is general only. - Updates to this PDS
Non-material changes may be made from time to time. Updated information will be available on the VBank website and/or via in-app notices.
Website: https://vbank.ph/ → see Disclosures/Notices page. - Issuer and Regulator
Issuer / Account Provider: Vigan Banco Rural Incorporada (VBRI / VBank)
Regulator: Bangko Sentral ng Pilipinas (BSP)
VBank holds a banking license authorizing it to provide general banking services, including this Account. - Product Description
The VBank Account is a peso savings account with digital/electronic payment capabilities accessible through the VBank Mobile App. Supported payment rails include PESONet and InstaPay for domestic transfers to participating banks and e-money issuers. The Account may earn interest.
Account Variants:
• Panatag Account (interest-bearing, full account): A full bank account that may earn interest at prevailing rates (see Terms/Product Sheet). Requires completion of full KYC.
• Pasimula Account (non-interest, basic): A simplified account that does not earn interest and carries a ₱50,000 limit for customers who are not yet fully KYC’d. You may upgrade to the Panatag Account by completing full KYC.
- Eligibility, KYC, and Onboarding
You must meet VBank’s eligibility and Know-Your-Customer (KYC) requirements.
• KYC levels: Customers who complete full KYC may open/upgrade to the Panatag Account (interest-bearing). Customers who have not yet completed full KYC may open/use the Pasimula Account (non-interest, ₱50,000 limit).
• Pending applications: If requested KYC documents are not submitted within 10 calendar days, the application will be rejected. You may re-apply any time. - Significant Benefits
• Full bank account: deposit/withdraw, send/receive funds, and (for Panatag) earn interest per product terms.
• Domestic payments: transfer via PESONet and InstaPay to participating institutions.
• Mobile app: manage the Account anywhere with real-time access, security controls, and alerts.
• Interest (Panatag): the Panatag Account may earn interest at prevailing rates (see Terms/Product Sheet). - Significant Risks
• Input/operation errors: incorrect details or device mishandling may cause unintended transactions.
• Unauthorized transactions: recovery is not guaranteed; notify VBank immediately if you suspect compromise.
• Network/service unavailability: you may be unable to transact or view information when systems or partner networks are offline.
• Available balance only: you can transact only up to your available cleared balance and applicable limits. - Fees and Charges
Fees may change; VBank will provide notice per regulations. Current indicative fees:
Cash-in / Transfers
• ECPay cash-in: ₱20.00 per transaction
• InstaPay outgoing: ₱15.00 per transaction
• P2P QR: ₱15.00 per transaction
• Scan to Pay: ₱15.00 per transaction
Other fees (if any) are disclosed in the Fees & Charges Schedule and/or in-app prior to confirmation.
- Account Limits
• General: Daily transaction limits apply based on your KYC tier, risk profile, and regulatory requirements.
• Pasimula Account (not fully KYC): ₱50,000 limit applies (until full KYC is completed and the account is upgraded to Panatag).
• Panatag Account (full KYC): Limits may vary based on risk and compliance assessments. - Account Closure & Data Deletion
If you request Account deletion:
• Access: App access is disabled after request acceptance.
• Data retention: Your records will be retained for five (5) years to comply with Republic Act 9160 (AMLA) and other laws, after which they will be securely deleted or anonymized.
Before requesting deletion:- Settle outstanding dues (we cannot proceed while dues exist).
- Prepare a valid government ID (e.g., SSS/UMID/Driver’s License/Passport). If your legal name has changed, include proof (e.g., marriage certificate).
- Email helpme@vbank.ph and attach:
• Photo of your valid ID
• Accomplished Account Deletion Request Form (request via helpme@vbank.ph)
• If via authorized representative: authorization letter + representative’s valid ID
We will use the submitted data only to verify your identity and process the deletion.
- Disputes and Complaints
If you have a concern or complaint, contact VBank (see Section 14). We will:
• Provide an initial response within five (5) working days; and
• Aim to issue a final resolution within forty-five (45) calendar days.
If you are not satisfied or do not receive a response within the above timeframes, you may escalate to the BSP Consumer Assistance:
• Email: consumeraffairs@bsp.gov.ph
• Post: A. Mabini Street, 1004 Malate, Manila - Authority and Representations
No person is authorized on behalf of VBank to:
• Provide information inconsistent with this PDS;
• Give you financial product advice about this Account; or
• Do anything else on VBank’s behalf other than marketing, arranging issuance, or providing customer service.
If you receive information inconsistent with this PDS or any financial product advice, do not rely on it—rely only on this PDS and the official Terms & Conditions. - Other Important Information
• Deposit insurance: Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to the statutory coverage per depositor, per bank. (Coverage applies to both Panatag and Pasimula Accounts.)
• Security: Keep your device secure, enable app security features, and never share your credentials.
• Service availability: Access depends on third-party networks and partner institutions; some features may be temporarily unavailable.
• Foreign use: PESONet and InstaPay are domestic rails; international transfers may not be supported unless specifically offered. - Contact Us
Vigan Banco Rural Incorporada (VBRI / VBank)
• Email: helpme@vbank.ph
• Facebook: https://www.facebook.com/VbankPH
• Website: https://vbank.ph/
Please provide your contact details and describe your concern. We will register your case and reply with an initial response within five (5) working days; we aim to resolve within forty-five (45) calendar days.
- Filipino Language Notice (Paunawa sa Wikang Filipino)
Paksa: Product Disclosure Statement (PDS) – VBank Account + Mobile App
Mga Uri ng Account:
• Panatag Account (may interes): Buong bank account na maaaring kumita ng interes; kailangan ang kumpletong KYC.
• Pasimula Account (walang interes): Pinasimpleng account na walang interes at may limit na ₱50,000 para sa mga hindi pa ganap ang KYC. Puwedeng mag-upgrade sa Panatag kapag nakumpleto ang full KYC.
Mga Benepisyo:
• Buong bank account (Panatag) na maaaring may interes.
• Domestic transfers sa PESONet at InstaPay.
• Mobile app para madaling pamahalaan ang pondo.
Mga Panganib:
• Maaaring mangyari ang hindi sinasadyang transaksyon kung mali ang detalye o maling paggamit ng device.
• Kapag may hindi awtorisadong transaksyon, hindi garantisado ang pagbawi; agad na i-report sa VBank.
• Kapag walang network/serbisyo, hindi makakagawa ng transaksyon.
• Hanggang available balance at mga limit lang ang puwedeng gastusin (Pasimula: ₱50,000 hanggang makumpleto ang full KYC).
Reklamo at Ayuda:
• Magpadala ng reklamo sa helpme@vbank.ph o sa contact channels ng VBank.
• Unang tugon sa loob ng 5 working days, at target na resolusyon sa loob ng 45 days.
• Kung hindi kayo nasiyahan, maaari ninyong isulong sa BSP (consumeraffairs@bsp.gov.ph).