#bank secrecy rights

The T&C looks like this and seems like an innocent fine print until you scroll down to the Data Privacy and Bank Secrecy section. This section requires BDO users to waive their Bank Secrecy Rights together with the Foreign Currency Deposit Act of the Philippines. The Bank Secrecy Law and the Foreign Currency Deposit Act of the Philippines prohibit them from disclosing private data without due cause or legal process. However, the BDO app requires you to waive all these "data privacy" rights whenever you use their online banking services so take note the next time you open your BDO app. Statement from BDO: The Data Privacy/Bank Secrecy section of the updated BDO Online app’s Terms & Conditions (T&C) is a common provision used by many local banks. He compared the proposal with the country’s bank secrecy rules, which strictly limit access to bank account information unless allowed by law or a court order. Read more in our articles including "BDO app requires you to waive Bank Secrecy Rights" and "GoTyme partners with DragonFi for Stock Trading feature".