Advisory on the Implementation of the Bayanihan to Recover As One Act

In line with the implementation of the Republic Act (RA) No. 11494, or the “Bayanihan to Recover as One Act” (BARO), all RCBC Bankard cardholders whose accounts are current, existing and with outstanding balance as of September 15 (“qualified cardholders”) are eligible to avail of a one-time, 60-day grace period for principal and/or interest/fees falling due from September 15 to November 15, 2020 (“covered due dates”), without incurring interest on interest, penalties, fees, or other charges. To avail of the grace period, the cardholder can simply skip paying for the covered due date.

For qualified cardholders who are considered as Revolvers (cardholders who did not pay in full prior to the grace period), any unpaid outstanding balance during the grace period will continue to incur interest based on the Terms and Conditions Governing The Issuance And Use Of RCBC Bankard Credit Cards.

For qualified cardholders who are considered as Transactors (cardholders who paid in full prior to the grace period), full interest will be reversed if they pay the total outstanding balance in full on or before the first payment due date after the grace period.

For qualified cardholders who have already paid for the covered due date prior to this announcement, the one-time, 60-day grace period will apply on the succeeding due date.

For qualified cardholders who would like to avail of the one-time, 60-day grace period beyond November 15, 2020 but not to extend beyond December 31, 2020, please inform RCBC Bankard at least 5 calendar days before the intended statement due date by calling RCBC Bankard Customer Service at 8888-1888. This option is only allowed for qualified cardholders who have paid at least the minimum amount due but less than the total amount due during the covered due dates.

For qualified cardholders who have an existing Auto-Debit Arrangement (ADA) or have previously issued post-dated checks, and would like to avail of the 60-day grace period, please notify RCBC Bankard by calling 8888-1888 or 8888-1883 (Premium Cards Hotline) at least 5 calendar days before the scheduled ADA arrangement or the indicated check payment date. In the absence of a notification, RCBC Bankard will proceed with the processing of scheduled payments.

For qualified YourCash accounts, the cardholder may avail of the grace period by skipping the payment of the monthly amortization during the covered due dates. The installment term will be extended by two months. Cardholders who skip payments will be charged accrued interest. In order to forego the interest accrued, cardholders can continue paying their monthly amortizations as originally scheduled. Qualified Your Cash cardholders who want to avail of the grace period on their due date beyond November 15, 2020 but not to extend beyond December 31, 2020 should call RCBC Bankard Customer Service at least 5 calendar days before the intended due date.

We encourage cardholders who can manage to make payments to do so through any digital or physical payment channel.

For more information on the BARO Act implementation, please refer to the Frequently Asked Questions and the Memorandum No. M-2020-068 | Implementation of Section 4 (uu) of the R.A. No. 11494 on the "Bayanihan to Recover As One Act".