The Inter-bank Funds Transfer Facility allows me to instantly make fund transfer transactions to and/or receive funds from participating financial institutions of Automated Clearing Houses (ACH).

Definition of Terms:

  1. Automated Clearing House- a multilateral legally binding agreement that lays down the clearing and participation rules for a particular payment stream to facilitate electronic fund transfer among its participants operating under the National Retail Payment System (NRPS) consisting of the InstaPay and PesoNet schemes.

    1. InstaPay- real-time low-value electronic fund transfer for transaction amounts up to P50,000.00

    2. PesoNet- a batch fund transfer credit payment scheme, proceeds will be received by the payee within the same banking day if the payment instruction is sent within the prescribed cut off time.

  1. Inter-bank Funds Transfer Instruction (IBFT Instruction)- instruction by the sender to transfer funds from his/her/its Source Account maintained with the Originating Bank for credit by the Receiving Institution to the Beneficiary Account as identified by the Sender.

  2. Beneficiary- the receiving party identified by the sender of funds in the payment transfer instructions.

  3. Beneficiary Account- the bank account maintained with the Receiving Institution that is identified by the sender in the fund transfer instructions.

  4. Sender- the party making the IBFT Instruction from his/her/its Source Account maintained with the Originating Institution to the Beneficiary Account maintained with the Receiving Institution.

  5. Source Account- account maintained by the sender with the Bank where the amount will be deducted from the fund transfer instructions.

  1. Fees- Any fees charged for the IBFT Instruction will be for the account of the Sender.

  2. Mobile Phone- refers to the client’s cellular network phone unit with the client’s subscriber identity module (SIM) card and corresponding 11 digit mobile number assigned to the SIM card.

  3. One-Time Password (OTP)- the six-digit code sent to the user’s registered mobile number.

  1. You- owner of the account.

This Agreement governs your use of the Mobile Banking Services provided by Isla Bank ( A Thrift Bank), Inc. (“Islabank)” or the “Bank”).


  1. By using IslaBank Mobile Banking services, you agree to abide by the terms and conditions of the Bank’s Mobile Banking Agreement.

  2. When you sign up for the Mobile Banking Service and click on the "I Accept" button, you agree to accept the terms and conditions of this Mobile Banking Agreement including any future amendments to the Mobile Banking Agreement or changes in the terms and conditions.

  1. If you do not agree to all of the terms in the Mobile Banking Agreement, click on the "I Decline" button. If you do not accept the terms and conditions of the Mobile Banking Agreement then you will not be able to proceed with the enrollment to allow you to use Mobile Banking services.

  2. The Bank may change this Mobile Banking Agreement at any time. We will notify you of such changes by mail or by e-mail. If you use the Mobile Banking Service after the effective date of a change, your use indicates that you agree with the changes.


  1. IslaBank allows you to access your accounts using your mobile phone or tablet. You may enroll in the Mobile Banking Services by defining your username and password.

  1. You may access your account by signing in to IslaBank Mobile Banking app.

  2. You may download the app from the Apple app Store for your iPhone or iPad Touch. For Android users, you can get the Android App from Google Play Store.

  3. Enrollment into IslaBank Mobile Banking shall be done via the app or by calling the Bank’s registration hotline.

  4. Your enrollment to the facility will be effective upon your receipt of the Bank’s confirmation of the enrollment of your account through SMS and/or email and will remain in full force and effect until we receive from you a written notice of its termination.

  5. Your Mobile Phone Banking Services are permitted only after validation of the information you provided us and the authentication of your identity through various two-factor authentication methods.

  6. The bank has no obligation to verify the authenticity of the transaction you initiated or purporting to have been by you via the IslaBank Mobile Banking App other than by means of verification of your mobile number through the OTP sent, your user ID and Password.


  1. You shall keep you User ID, password, account numbers and other account data confidential and secure at all times and not to reveal it to any third party.

  2. It is understood that the Username and Password are known only to you and as such, any transaction effected using your password and/or OTP shall be conclusively presumed to be done by you.

  3. You agree to assume full responsibility and liability for all transactions made in your accounts through the use of the facility after the correct entry of your User ID, password and/or OTP.

  4. You agree that the Bank shall not be liable for acting in accordance with or based on requests/instructions received through IslaBank Mobile Banking, which we believe emanates from you.

  1. You agree and undertake to change your password from time to time as you deem necessary for safety measure.


  1. You agree to notify the Bank immediately if your mobile phone or password may have been lost/stolen or that someone has used it without your permission; You further agree to give the Bank a reasonable period to de-activate your compromised IslaBank Online User ID and password.

  1. You further agree that the Bank is not responsible for any loss, damages or costs which you may incur resulting from the loss of your mobile phone or password, or the fraudulent transactions which may occur if you do not notify the Bank immediately.

  1. You acknowledge that the OTP is an added security feature that requires you to enter a unique 6-digit password for your online transactions and help the B a n k authenticate your identity.


  1. Balance Inquiry- You may view the account balance fo your enrolled IslaBank account.

  2. Fund Transfer- You may transfer funds from your own account/s to your other accounts or third-party accounts within IslaBank and to other local banks; provided that: (a) there are sufficient funds available in your account; (b) t h e information provided are complete, correct and valid; and (3) that transactions are within the allowable limits set by the Bank or you as the user.

2.1 You hereby agree that all fund transfers initiated through IslaBank Mobile Banking shall be subject to such transaction limits, cut-off periods, service fees, and other policies that may be imposed by the Bank and InstaPay and PESONet ACHs.

2.2 The Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond the reasonable control of the Bank.

2.3 The Bank shall likewise not be liable for losses, costs or damages for failed or incorrect fund transfers resulting from an error or omission in the information you provided us with.

2.4 You agree that transactions made after the Bank's designated cut off time(s) shall be considered transactions of the following banking day.


A minimum monthly average daily balance (ADB) of 1,000.00 shall maintained for Mobile Banking Service. Should the account fall below the required maintaining ADB for two consecutive months, a service charge of 50.00 shall be debited at month-end.


For Joint “or” accounts, because of their nature, shall not be allowed access to the IslaBank--- Mobile Banking Service.

While the Bank provides a reliable and secure system, the client shall take full accountability to protect the information used in the creation of the Mobile account once enrolled. It shall be the responsibility of the client to ensure secured communication lines and internet connection when utilizing the service.

The Account Holder shall be responsible for all consequences arising from or in connection with its use of the IslaBank Mobile Banking Service. This covers all transactions processed through this service whether or not processed with the Account Holder’s knowledge or authority.

The Account Holder agrees to hold the Bank and/or any of its directors, officers, employees or representatives free and harmless, from any and all claims, suits, damages,  costs,  liabilities, charges, obligations or expenses of any kind, and shall indemnify them upon demand for all losses, damages and expenses they may suffer or incur, arising from or in connection with the Account Holder’s violation of its undertakings and warranties herein or from the use of the IslaBank Mobile Banking Service, unless such losses, damages and expenses are due to the Bank’s gross negligence or willful default.


The Bank shall not be liable for any loss or damage of whatever nature in connection with the implementation of transactions covered by this Agreement in the following instances:

Disruption, failure or delay which are due to circumstances beyond the control of the Bank, fortuitous events such as but not limited to prolonged power outages, breakdown in computers and communication facilities, typhoons, floods, public disturbances, and calamities and other similar or related cases;

Loss or damage you may experience due to theft or unauthorized disclosure of User IDs, passwords, or violation of other security measures with or without your participation; and

Inaccurate, incomplete or delayed information you received due to disruption or failure of any communication facilities.

In case of any dispute between the Account Holder with a third party to whom payment or transfer of funds is affected through the IslaBank Mobile Banking Service, the Bank shall not be answerable to either the Account Holder or any third party for any amounts, fees or charges in connection with such dispute. The Account Holder hereby acknowledges that such dispute is personal between the client and the third party.

The Bank shall not be liable for any indirect, incidental or consequential loss, loss of profit or damage that the Account Holder may experience because of the use or failure or inability to use the ISLABank Mobile Banking Service. This provision shall survive the termination or suspension of the right to use the IslaBank Mobile Banking Service.


Pursuant to the provisions of the Republic Act No. 10173 of the Philippines, Data Privacy Act of 2012 and its corresponding Implementing Rules and Regulations, I agree that the Bank may process, obtain, collect, record, store, update and modify, use, access, share or disclose information within the Bank and to regulatory agencies in compliance with applicable local laws, rules and regulations (including but not limited to those relating to anti-money laundering, exchange of information among the authorities, financial institutions or associations), relating to me and/or my account, by signing on the space provided below.


The Bank, at any time, may suspend or terminate this Agreement, with or without prior notice, once the Account Holder’s enrolled account/s are already closed, dormant, garnished or for whatever reason that the Bank deems necessary. The Account Holder acknowledges the right of the Bank, without prior notice, to limit, restrict, cancel, suspend, discontinue or terminate the use of the Service as it may deem appropriate for whatever reason.


The Bank reserves the right to amend these Terms and Conditions at any time and will give the Account Holder prior notice of such changes.

All records maintained by the Bank, whether in electronic or documentary form, of the transactions or instructions of the Account Holder, and any other details in the availment of banking channels shall, through and pursuant to the IslaBank Mobile Banking Service shall, as against the Account Holder, be deemed to be conclusive.

No failure to exercise and no delay in exercising, on the part of the Bank, of any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof, or the exercise of any other right or power. The rights and remedies herein provided shall be cumulative, may be exercised concurrently and shall not be exclusive of any rights or remedies of the Bank here under or granted by law.


By enrolling to the IslaBank Mobile Banking Service, the Account Holder acknowledge that it has read and understood the Terms and Conditions, and agree to be unconditionally bound by these Terms and Conditions, and all amendments and additions thereto which the Bank may execute from time to time.