REPUBLIC OF THE PHILIPPINES 
HOUSE OF REPRESENTATIVES 
 19th CONGRESS  
SECOND REGULAR SESSION 
HOUSE BILL NO.  __________ 
INTRODUCED BY CIBAC PARTY LIST REPRESENTATIVE 
HON. EDUARDO “BRO. EDDIE” C.  VILLANUEVA 
EXPLANATORY NOTE 
This piece of legislation aims to give back to bank depositors the full benefits of their hard-earned 
savings.  The State as parens patriae encourages the public to save in banks to enable to safeguard 
savings and earn interest with the end of providing the much-needed financial stability.  
A peso saved is a step away to a comfortable retirement plan or a dream house, with that in mind, 
unfounded bank fees and charges robs a depositor of his dream. 
The salient point of this legislation are as follows: 
1. Non imposition of service charges for deposits under savings or current account due to
failure to maintain a minimum balance or deposit as required by banks and other financial
intermediaries; and
2. Imposition of Penalties. Any director, officer or agent of the bank who will violate this Act
shall be fined of not less than 100,000.00 but not more than 500,000.00 or imprisonment
of not less than 1 year but not more than 2 years or both upon the discretion of the court.
The banking system with its wide array of network and duty of facilitating an economic viable 
community has encourage depositors to create a gateway of financial resources that in turn will 
create a dynamic banking industry that will pave the way to a strong partnership between the 
capital resources and development of investments. 
More so, it is the policy of the State to protect the interests of the consumer, promote general 
welfare, and to establish standards of conduct for business and industry. 
The prohibition from imposing service charges to accounts falling under minimum maintaining 
balance will encourage depositors to deposit their money in banks.  The fees and charges once 
forgone will redound to the   of the depositors yielding more interest and the trust of the depositors 
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2:26 pm
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will considerably increase in our banking system knowing that they are not being robbed of their 
money via fees. 
In this time, with our limited mobilization and limited financial capability, the imposition 
of deposit limitation is not helping our depositors to use the full financial capacity of their financial 
resources, thus contrary to encouraging the public to save in banks and generate capital resources. 
Under this Act, the full enjoyment and financial capability of the depositors will encourage 
trust and confidence in the banking system.  
Hence, approval of this measure is earnestly sought. 
 HON. EDUARDO “BRO. EDDIE” C. VILLANUEVA 


REPUBLIC OF THE PHILIPPINES 
HOUSE OF REPRESENTATIVES 
19th CONGRESS  
SECOND REGULAR SESSION 
HOUSE BILL NO.  __________ 
INTRODUCED BY CIBAC PARTY LIST REPRESENTATIVE 
HON. EDUARDO “BRO. EDDIE” C.  VILLANUEVA 
AN ACT 
PROHIBITING BANKS FROM IMPOSING SERVICE CHARGES OR FEES ON BANK 
DEPOSITS OR ACCOUNTS FALLING UNDER MINIMUM MAINTAINING BALANCE 
 Be it enacted by the Senate and House of Representatives of the Philippines in Congress as 
assembled: 
     Section 1. This Act shall be known as “The NON-IMPOSITION OF BANK DEPOSIT 
MAINTAINING BALANCE ACT OF 2022.” 
Sec 2.   Declaration of Policy.  It is the policy of the State to protect the interests of the 
consumer, promote general welfare, and to establish standards of conduct for business and 
industry. 
Sec. 3 Coverage.  All banks, financial intermediaries and other financial institutions 
operating under Philippine laws shall be governed by this Act.  
Sec. 4. Definition of terms. 
Bank fees – refers to any charges imposed by financial institutions on personal and 
business customers. 
Bank charges – amount of money paid by a customer for a bank’s services. 
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Service Charge - A service charge is a fee collected to pay for services related to 
the primary product or service being purchased. The charge is usually added at the 
time of the transaction. 
 
Maintaining balance- The minimum amount that must be maintained to receive 
certain benefits or to keep the account open. 
 
Sec. 5. Prohibition Against imposition fees or charges for failure to comply with the 
required minimum maintaining balance. It shall be unlawful for any bank, financial 
intermediaries and other financial institutions to impose a minimum maintaining balance and/or to 
impose service charges or any fees on savings or current accounts which are not complying with 
the required minimum maintaining balances set by the bank policies. 
 
Sec. 6. Disclosure.  All banks, financial intermediaries and other financial institutions shall 
disclose all terms and agreements of the transaction and a printed copy of the said agreement shall 
be given to the client or depositor. 
 
Sec. 7. Prohibition.  Hidden charges shall be ineligible as provided under this Act. 
 
Sec. 8. Penalties. Any director, officer or agent of the bank who will violate this Act shall 
be fined of not less than 100,000.00 but not more than 500,000.00 or imprisonment of not less than 
1 year but not more than 2 years or both upon the discretion of the court. 
 
Sec. 9. Implementing Rules and Regulations. - The BSP and other related agencies shall 
issue the necessary rules and regulations for the effective implementation of this Act within a 
period of ninety (90) days after its approval. 
 
Sec. 10. Repealing Clause. All laws, decrees, executive orders, rules or regulations or other 
issuances, or parts thereof, which are inconsistent with provisions of this Act, are hereby repealed 
or amended accordingly. 
 


Sec. 11. Effectivity Clause. This law shall take effect fifteen (15) days after its publication 
in the Official Gazette or in two (2) national newspaper of general circulation. 
 
Approved.