263 FEES ON RETAIL BANK PRODUCTS/SERVICES1
a. Maintenance Fee. Banks may impose maintenance fees on a deposit account, whether active or dormant, subject to the following conditions:
(1) The required minimum monthly average daily balance (ADB), as well as the imposition and the rate/amount of maintenance fee, are properly disclosed among the terms and conditions of the deposit;
(2) The deposit account balance has fallen below the required minimum monthly ADB for at least two (2) consecutive months; and
(3) Banks must ensure that clients are notified of any change in the required minimum monthly ADB and amount of dormancy fee at least sixty (60) days prior to implementation.
b. Dormancy Fee. Banks may only impose dormancy fee on a dormant deposit account five (5) years after the last activity therein: Provided, That:
(1) The balance falls below the minimum monthly ADB, if any;
(2) The monthly dormancy fee shall not exceed thirty pesos (P30.00); and
(3) The bank complied with the two (2) notice requirement under Items “7.b.(2)” and “7.b.(4)”, Appendix 117, prior to the charging of dormancy fees.
a. Automated Teller Machine (ATM) transaction fees at the ATM’s on-screen messages; and
b. Fees and charges on all retail bank products/services such as deposit, remittance and loan, on the bank’s official website and at a conspicuous place within the premises of all banking units.
(Circular No. 928 dated 24 October 2016)