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About this Product Disclosure Statement (PDS)


This Product Disclosure Statement (‘PDS’) is issued by Netbank, (a Rural Bank), Inc, which is a bank regulated by the BSP in the Philippines. (‘Netbank’). 


This PDS is designed to assist you in deciding whether to acquire the account + mobile app (‘Account’). It is important that you read and understand this PDS. 


The information in this PDS does not take into consideration your individual financial situation, objectives, or needs. Prior to making any decision about the Account or whether to acquire it, you should consider whether this product is right for you. Any advice in this PDS is general advice only. You should consider the appropriateness of any general advice to your own circumstances before acting on it. For more information on the  Account, please contact Netbank client help-line, at the contact point below. 

This PDS is dated 1 July 2022. 


Updates relating to this PDS 

Information in this PDS that is not materially adverse information may be subject to change from time to time. This updated information will be available at 


The information which Netbank will make available by way of these updates may change from time to time.

General Description of Product 

The Product is a savings account, provided by Netbank, with a range of payment services attached. It is a full bank account.

Netbank, the Account provider


Netbank holds a banking licence with the Bangko Sentral ng Pilipinas (BSP) authorising it to provide general banking, including this Account. 




If you have a complaint, you can contact Netbank at the contact points below.  Netbank will handle all complaints according to Netbanks internal dispute resolution procedure. 


Our dispute resolution procedure requires that we provide an initial response to your complaint within 5 days, with a final response within 45 days. 


None has the authority on behalf of Netbank to: 

  • Tell you anything about the Account that is inconsistent with the information in this PDS; 

  • Give you financial product advice (that is, a recommendation or statement of opinion intended or that could be reasonably regarded as being intended to influence you in making a decision) about the Account; or 

  • Do anything else on Netbank’s behalf, other than marketing, arranging for the issue of and providing customer services for the Account. 


If you have been told anything that is inconsistent with this PDS, or if you have been given any financial product advice by  or anyone seeming to act on behalf of Netbank, you should NOT rely on it in making any decisions about the Account. You should only rely on what is in this PDS. 


Significant benefits of the product 


There are some significant benefits to you associated with use of the Product, including: 

  • The Account is a full bank account. 

  • The Account is connected to PesoNet and Instapay, which means that it can be used to buy goods and services from merchants in the Philippines and around the world that accept payments from these channels.. 

  • The Account offers interest

  • The Account is attached to a mobile app, which can allow you to manage your finances from anywhere. 


Significant risks 


There are some significant risks associated with use of the Account that you should be aware of, including: 

  • Unintended transactions can happen if electronic equipment with which an Account is being used is operated incorrectly or incorrect details are input. 

  • You may not be able to get your money back if unauthorised or unintended transactions occur. 

  • If the electronic network enabling the use of the Account is unavailable, you may not be able to undertake transactions or get information using the Account. 

  • You may only spend up to the value of the available balance on the Account. 

  • the Account. 

Other important information 


There are some other important things that you need to be aware of about the Account: 

Pending Applications

If the client's/applicant did not provide the requested documents for KYC verification within 10 days it will be rejected and once rejected client's/applicant need to re-apply for the account opening. 


Fees & charges 

Below is a list of our fees and charges. 

      Instapay and Pesonet                                                                     Free Starting December 21, 2022


PhP 40.00

PhP 20.00

PhP 30.00

Php 5.00

3% of the transaction amount 

2% of the transaction amount 

Cash In Fees

Ayannah Network




Cash Out Fees

Ayannah Network


Account limits

Up to  Available  Balance 

Daily Limit 

Please be advised of the following when closing your Netbank Mobile account:

Upon your request for account deletion, you will no longer be able to log in. The actual deletion of your data from our systems will be done after five (5) years, in compliance with R.A. 9160.

To proceed with the request to delete your Netbank Mobile account, follow these steps:

  1. Settle Outstanding Dues:

    • Settle any outstanding dues in your Netbank Mobile account prior to your request. We will not proceed with your account deletion request if there are any outstanding dues.

  2. Prepare Identification:

    • Prepare a copy of your Government-issued ID (e.g., NBI Clearance, SSS ID, UMID, Driver’s License, Passport). If your full name is different from the document or ID you submitted, attach an extra document to confirm your identity (e.g., marriage certificate, change of name deed, statutory declaration).

  3. Download and Complete the Account Deletion Request Form:

  4. Submit Your Request:

If you are requesting through an authorized representative, include the following:

  • An authorization letter indicating that you are authorizing your representative to request your account deletion on your behalf.

  • A photo of the document you chose to confirm your representative's identity.

The data collected will only be used to validate your identity and process your request for data/account deletion. Once you have completed the form and we’ve validated your identity, we will process the deletion of your Netbank Mobile account.


In case of concerns or complaints, please contact Netbank via the contact details below.


Please provide your contact details and details of the situation. Netbank will register this contact and get back to you within 5 working days with an initial response. Netbank will seek to resolve all issues within 45 days.

However, if we are unable to resolve your complaint to your satisfaction within 45 days then you may be eligible to escalate your complaint to the Bangko Sentral ng Pilipinas. Their contact details are as follows:
Post: A. Mabini Street, 1004 Malate, Manila

Nakikipagtulungan ang Netbank sa ilang mga kasosyo upang ipatupad ang mga programa nito. Ang unang punto ng pakikipag-ugnayan para sa isang kliyente ay karaniwang magiging kasosyo. Mangyaring makipag-ugnayan sa contact na ibinigay sa ibaba para sa anumang mga katanungan.

Kung mayroon kang mga karagdagang contact o reklamo, mangyaring makipag-ugnayan sa Netbank sa pamamagitan ng mga sumusunod na paraan. Anumang mga reklamo na nauugnay sa mga pagpapatakbo ng mga kasosyong ito ay dapat munang matugunan sa contact point ng Kasosyo, gaya ng tinukoy sa ibaba. Ang sinumang kliyente ay malugod ding makipag-ugnayan sa Netbank sa e-mail address na naka-post sa ibaba.

Mangyaring ibigay ang iyong mga detalye sa pakikipag-ugnayan at mga detalye ng sitwasyon. Irerehistro ng Netbank ang contact na ito at babalikan ka sa loob ng 2 araw ng trabaho na may paunang tugon. Sisikapin ng Netbank na lutasin ang lahat ng isyu sa loob ng 5 araw.

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