Save Money Terms and Conditions

Last Modified: February 12, 2019


The ‘Save Money’ feature (“Save Money”) on the GCash App is made possible by partnerships between G-Xchange Inc. (“GXI”) and its partner CIMB Philippines (“Product Provider”).

The following are the terms and conditions of Save Money. By clicking on ‘Confirm’ and proceeding in your access of this feature on the GCash App, you are signifying that you have read, understood, and agree to be bound by these terms and conditions. You also undertake to periodically visit and review these terms and conditions for updates and changes, and agree to be bound by its subsequent updates, revisions, or modifications. If you do not agree to these terms and conditions, please refrain from using Save Money.

These terms and conditions are also available for viewing on the webpage of Save Money on the GCash website.

Definition of terms

“Save Money registration” or “registration” refers to the process a user must undergo upon initial use of the feature, wherein the user is required to verify their email address, customer information, and citizenship.
“Product” refers to a savings product provided and maintained by Product Provider, and is made available via Save Money
“Product application” refers to the process a user must undergo to be able to open a savings account with Product Provider in the GCash app, which includes reading, understanding, and agreeing to be bound by the Product Provider’s terms and conditions

Data sharing

In proceeding with the validation of your customer information during the registration and Product application processes of Save Money, you are agreeing and consenting to your personal information being shared and released to Product Provider whose products you will choose to open. This information includes your, citizenship, customer information, mobile number, first name, last name, email address, mother’s maiden name, birth date, address, and zip code, and such other information relevant for the product of the Product Provider.

Registration and Product Application

Registering for Save Money requires you to provide answers to validate your information. During registration, you represent and warrant that the information you provide are true, correct, and up-to-date. You agree that GXI can subsitute specials characters such as but not limited to changing ñ to n, remove hyphen (-), remove numerical numbers in your KYC information for registration purposes. For purposes of marketing and promotions, you agree that GXI can share
your information to other product providers for offers/promo that is relevant to your GSave account. You also agree that GXI will not be liable for any claims, liabilities, suits, actions, complaints, injuries, or damages, directly or indirectly, arising from or caused by incorrect information that you provided.

In addition to registering for Save Money, you are required to apply to Product Provider to be able to open a savings account. This application process involves understanding, consenting, and agreeing to be bound by these terms and conditions and the Product Provider. Upon confirmation, GXI will share and provide your registration information to Product Provider. Product Provider will then have the prerogative to either approve or reject your application to open a GSave account, and may ask for additional requirements from you in order to aid in their assessment.

Terms of Savings

GSave is a savings product powered by CIMB Bank Philippines with interest earned per annum. It is insured by the Philippine Deposit Insurance Corporation (PDIC) up to Php 500,000.

Transactional limits

For deposits:
Minimum – PHP 0.01
Maximum – PHP 100,000 over 12 months
For withdrawal:
Minimum – PHP 0.01
Maximum – PHP 50,000 per day

Customer service

GXI provides and maintains the GCash App, which contains Save Money, and is responsible for resolving customer queries about the feature. Product Provider, which provide and maintain the savings products, are responsible for resolving all customer queries on their GSave account.

Exclusion from liability

GXI makes no warranty, express or implied, regarding Save Money on the GCash App.

Save Money is offered on an “AS IS”, “AS AVAILABLE” basis without warranties of any kind, other than warranties that are incapable of exclusion, waiver or limitation under the laws applicable to this Agreement. Without limiting the generality of the foregoing, GXI makes no warranty: (1) as to the content, quality or accuracy of data or information provided by GXI hereunder or received or transmitted using Save Money; (2) as to any service or product obtained using Save Money; (3) that Save Money will be uninterrupted or error-free; or (4) that any particular result or information will be obtained.

GXI shall not be liable for any loss, cost, compensation, damage or liability to you or any third party arising from, directly or indirectly, or as a result of any or all of the following:

You are unable to perform or complete any transaction through the use of Globe, TM or Smart enabled mobile phone due to service/ system/ line unavailability.
Any delay, interruption or termination of a transaction whether caused by administrative error, technical, mechanical, electrical or electronic fault or difficulty or any other reason or circumstance beyond GXI’s control (including but not limited to acts of God, strike, labor disputes, fire, disturbance, action of government, atmospheric conditions, lightning, interference or damage by third parties or any change in legislation).
Any misrepresentation or fraud by or misconduct of any third party, such as but not limited to owners, employees or GCash agents.
Adverse financial position of Product Provider.
Any of your interactions or transactions with, or your act or omission in relation to, other users.

In the event of any action that the GCash user may file against GXI, the GCash user agrees that GXI’s liability shall not exceed ONE THOUSAND PESOS (PHP1,000.00) or the amount of the damages actually suffered by the GCash user, whichever is lower.

Prohibition of use

GXI reserves the right to cancel, suspend, limit, or modify your use of Save Money, if it finds you to be in violation of these terms and conditions, other relevant agreements, or any law, regulation, or issuance from a competent legal authority without need of any prior notice.

Suspension of Save Money and partnership termination

We reserve the right to suspend or terminate this service and any contractual relations with you upon notice. In case you have breached any term or condition herein, we may suspend, terminate, or in any way modify our Services and our contractual relations without notice.
In the event of the termination of a partnership between GXI and Product Provider causing the product to no longer be accessible via Save Money, the user will still be able to access his/her savings account by transacting with Product Provider directly.

Intellectual property rights

You acknowledge and agree that the materials on Save Money, including without limitation, the text, software, scripts, graphics, photos, and the like, and the trademarks, service marks and logos contained therein, are owned by or licensed to GXI, and are subject to copyright and other intellectual property rights under Philippine laws, foreign laws and international treaties and/or conventions. Save Money may display certain trademarks belonging to third parties. Use of these trademarks may be subject to license granted to us by third parties. GXI reserves all rights not expressly granted herein to Save Money and the aforementioned materials, and these may not be used without GXI’s express written consent.