Zed Cardholder Agreement



This Zed Charge Card Agreement (“Cardholder Agreement”) outlines the terms and conditions governing your use of the Zed Credit Card and your Zed Credit Account. For all purposes in this Cardholder Agreement the terms “you” and “your” refer to you, the person who applied for and received this Credit Account; the terms “we,” “us,” and “our” refer to Zed Philippines Inc., its successors and assigns. Other defined terms used in this Cardholder Agreement:

“Account” and “Credit Account” means the Credit Card account that is opened for you and that is subject to the terms of this Cardholder Agreement.


“Available to Spend Amount” is the amount of credit you may use without exceeding your Credit Limit. Subject to Section II(I) of this Cardholder Agreement, your Available to Spend Amount will be equal to the amount of your Credit Limit, minus the sum of (a) your New Balance, plus (b) any Purchases that we have authorized but that have not yet posted to your Credit Account, plus (c) any payments that have not yet cleared as of the closing date of your Billing Cycle. As provided in this Cardholder Agreement, your Available to Spend Amount will change from time to time based on changes in your Credit Limit, your use of the Account for Purchases and as you make payments on your Credit Account.

“Billing Cycle” means the interval between billing statements. Each billing statement shows a closing date. The statement closing date is the last day of the Billing Cycle for that billing statement.

“Business Day” means every day except Saturdays, Sundays, and holidays.

“Card” means a physical or virtual payment card issued by Zed and managed through your Zed App.

“Charge Card” means a credit card that requires payment in full every month. Since Charge Card balances must be paid in entirety by the Payment Due Date, there is no interest rate or minimum payment. If the Total Due is not received by the Payment Due Date, your Credit Account will be frozen and subject to collection procedures.  

“Credit Limit” is the amount of credit that we extend to your Credit Account.

“Debt” has the meaning given in Section M of this Cardholder Agreement.

“Default” has the meaning given in Section 12 of this Cardholder Agreement.

“External Account” “Initial Credit Limit” has the meaning given in Section 4 of this Cardholder Agreement.

“New Balance” means the total outstanding balance of your Credit Account at the end of any Billing Cycle, as shown on your billing statement. The New Balance is calculated as the sum of any outstanding balance from the previous month and purchases and transactions posted to the Credit Account, minus any payments and credits that we receive.

“Payment Due Date” means the date that Total Due is Due. Your Payment Due Date is at least 3 days after the close of each billing cycle. “Pending Transactions” has the meaning given in Section 8 of this Cardholder Agreement.  

“Purchase” means your purchase of goods or services with the use of a Card or Credit Account number (including, without limit, Purchases made in person, on the Internet, through mail order, or over the telephone). Tax payments made with your Credit Account (including any fees charged by a tax agency) are Purchases.

“Total Due” is equal to the New Balance.

1. Credit Card Eligibility

You must complete an application and be approved for a Credit Account. Applicants must be at least 18 years of age and a legal resident or citizen of the Philippines.

2. Applying for a Credit Account

Required Due Diligence
You will be required to present valid identification and provide personal identity, contact, employment and other pertinent information to apply for a Credit Account. You authorize us to perform due diligence on you when opening or reviewing your Credit Account. Your Credit Account may be subject to annual or more frequent review, and we may reinvestigate and reevaluate your Credit Account at any time and require additional information (including additional financial information) or otherwise verify your current credit standing. You will promptly provide us all information we request. We may exchange information with credit reporting agencies or other financial service providers when evaluating your Account.
Right to Deny your Application
We may, in our sole discretion, deny your application for a Credit Account. We also have the right to cancel, revoke, or suspend any Card at any time without notice.
Anti-Money Laundering and Terrorist Financing Regulations
To help the government fight the funding of terrorism and money laundering activities, Philippine law requires that Zed and other financial institutions obtain, verify, and record information about your identity and source of funds. You agree to provide the required information when opening your Zed Account and further agree to keep such information current.
External Account Linkage
You will be asked to authorize an External Account to share information with Zed as part of your application. We will use Financial Data from your External Accounts to verify account balances and account information, identify spending patterns and potential fraud, determine and review spending limits, analyze and report transactions, and provide Services to you. You must link at least one External Account to apply for a Card.

3. Credit Limits

Your Credit Limit is set by Zed, at its sole discretion, using Financial Data from your External Accounts such as available funds, deposit and spending patterns, your self-reported income, employment, education and other personal data, data from credit bureaus and other relevant data available to Zed.

Your Credit Limit may be decreased at any time with or without Notice to you, including temporary decreases or reducing the Credit Limit to ₱0. You may request to increase or decrease your spending limit by emailing support@zed.co. All requests to increase spending limits are subject to review and approval.

4. Agreement to Terms

By applying for a Credit Account, using or consenting to the use of the Credit Account, you agree to the terms and conditions of this Cardholder Agreement and that this Cardholder Agreement will govern your Credit Account, the use of your Card, and all credit extended under this Cardholder Agreement. You also agree that your use of your Credit Account, whether by use of your Card or otherwise, will constitute your acceptance of, and will be subject to, this Cardholder Agreement.

5. Using Your Credit Account

Available Transactions
Subject to your Credit Limit (see Section 3) and Available to Spend Amount, you may use your Card and your Credit Account to make Purchases so long as you are not in Default of this Cardholder Agreement. You may not obtain balance transfers or cash advances from your Credit Account. You can make Purchases as described in the definition of Purchase, above.
Limitations on Using Your Credit Account
You agree to use your Credit Account only for personal, family, or household purposes. You also promise that your Credit Account will not be used for purposes that are illegal under Philippine law, including without limit, illegal gambling activity. We reserve the right to deny transactions or authorizations from merchants that appear to be engaged in illegal activities. We are not responsible if anyone does not allow you to use your Credit Account or refuses to accept your Card. We may decline any transaction at any time.

6. Requesting and Replacing Cards

Cards may be issued as physical or virtual cards (a Card issued without an associated physical card that is accessible via the App). A physical Card is automatically issued and sent to you upon approval of your application. You are entitled to one active physical card at a time. Virtual cards are issued upon request via the App. We may decide in our sole discretion not to grant requests for Cards or limit the number of physical or virtual Cards provided to you.

You are responsible for securing Cards, account numbers, and Card security features (including the CVV and PIN, if any). You will promptly notify us and take appropriate measures to prevent unauthorized transactions when a Card is lost, stolen, breached, or needs to be replaced. In such cases, you may request the issuance of replacement Cards through the App. Replacement Cards may have new account numbers that could require you to update the Card on file for any scheduled or recurring payments. You are solely responsible for updating Card information stored with merchants where account numbers have been changed.

7. Receiving and Activating Cards

Physical cards are delivered via courier to the residential address you provided upon creating your Account. You are responsible for providing the correct address and informing us if your address changes prior to delivery. Couriers will release the card to any adult who is present at the address upon delivery and will require their identification and signature.

Physical cards cannot be used to make a purchase until activated. You must be signed in to the App to activate your physical card.

8. Promise to Pay

General Promise to Pay
You promise to pay us all amounts you owe on your Credit Account, including without limit, the total amount of all Purchases and all other charges and fees described in this Cardholder Agreement. You must make a payment every month that your Credit Account reflects a New Balance (the New Balance is the entire amount that you owe us at that time).

If we do not receive your Total Due by the Payment Due Date reflected on your Billing Statement, it will be considered late and you will be in Default. See “Our Rights Upon Default” in Section 11 for consequences of Default.
Making Payments by Bank Transfer
All payments to us must be made in Philippine Pesos by bank transfer from any bank account. You must use the specific account number presented on your Billing Statement as the beneficiary for the bank transfer in order for the funds to be credited to your Zed Credit Account.
Total Due Payment Requirement
Each month you must pay the Total Due that is shown on your billing statement and we must receive that payment on or before the Payment Due Date shown on each billing statement. You are responsible for ensuring that the funds are received by Zed before or on the Due date by 5:00 pm. The Payment Due Date will be the same day of each calendar month (although if the Payment Due Date is not a Business Day, we will treat any payment received by us by 5:00 p.m. on the next Business Day as having been made on the Payment Due Date). See “Receipt and Credit of Payments,” below. If your Total Due Payment is not received by your Payment Due Date, you will be in Default.  See “Our Rights Upon Default” in Section 11, below, for consequences of Default.

9. Receipt and Crediting of Payments

To ensure a timely payment, we must receive your payment by 5 p.m. on a Business Day in order for it to be credited to your Credit Account on that day.
Application of Payments
To ensure a timely payment, we must receive your payment by 5 p.m. on a Business Day in order for it to be credited to your Credit Account on that day.
Irregular Payments
We can accept late payments, partial payments, or payments marked “payment in full” without losing our rights under this Cardholder Agreement, including the right to require full payment of all amounts owed under this Cardholder Agreement.
Payments that exceed the Total Due amount will be carried over to the next billing cycle as credits and will reduce the amount of any balance on your Credit Account by applying the credits towards new Fees and charges posted to your Account. If you have credits and no new charges on your account at the time of account closure, we will return the balance of credits to you. We do not pay any Interest on credits.

10. Authorization Holds

Transactions at some merchants (such as hotels, car rental companies, restaurants, and gas stations) may result in temporary authorizations for amounts greater than the actual Purchase amount. If this happens, it will make less credit available to you on your Credit Account for several days (usually until the date the actual Purchase amount is received by us from the merchant).

11. Our Rights Upon Default

Events of Default
We may consider your Account to be in default if any of the following occurs (“Default”): (i) you fail to meet the conditions, to perform any obligation, or to make any required payment under this Cardholder Agreement or any other agreement that you make with us relating to the Debt; (ii) you have given us false or misleading information or misrepresentations; (iii) you die; (iv) any government authority takes action that we believe adversely affects your financial condition or ability to repay the Debt; (v) any guaranty or other agreement required in connection with the Debt is violated or ineffective; or (vi) you file a bankruptcy petition, a bankruptcy petition is filed against you, or you make a general assignment for the benefit of creditors. If you Default, we may declare all of the Debt immediately due and payable. “Debt” includes all amounts you owe us, including but not limited to fees and charges that may accrue under your Credit Account, and also include without limitation any continuing guaranty arising from the Credit Account, as well as each extension, refinance or renewal of such obligations, and any expenses that we incur in enforcing your obligations under this Cardholder Agreement, including fees for independent and/or in-house counsel, where allowed by law.
Our Rights Upon Your Default
Upon your Default, we may suspend Your Credit Account privileges, subject to reinstatement at our discretion. We are irrevocably appointed as attorney-in-fact for the limited purpose of executing any instruments required to satisfy the Debt.

Our rights stated in this Cardholder Agreement are in addition to any others we have under the law. If we waive or delay exercising a right, it does not forfeit that right or any others. You waive any defense you may have against us. Until the Debt is fully repaid and you have no further obligations under this Cardholder Agreement, you will subordinate in our favor any right of subrogation and any right to enforce a remedy we now have or may later have.

12. Authorized Users

If you give your Card to any other person to use or otherwise authorize any person to use your Credit Account, you will be responsible for that person’s use of your Credit Account and anyone else they allow to use your Credit Account, even if you did not anticipate, or agree to, that use. If you suspect unauthorized use, contact us at support@zed.co.  However, you must notify us in writing if you wish to revoke any permission you gave to another person to use your Credit Account. We will take commercially reasonable efforts to restrict unauthorized use, including replacing your Card with a new Card.

13. Billing Statements

Each month while your Credit Account is open, we will provide you an electronic billing statement showing your New Balance, Total Due, and the Payment Due Date. We will notify you that your billing statement is available via push notification. You will need to login to the App to view your billing statement. We will not send paper billing statements.  We may discontinue sending billing statements to you if we deem your Credit Account to be uncollectible or if we sent your Credit Account to an attorney or other third party for collection purposes.

14. Fees

Annual Fee
There is no annual fee for your Credit Account.
Late Payment Fee
If your Total Due is not received by your Payment Due Date, you will not be charged a late payment fee, however, it will be considered late and you will be in Default. See “Our Rights Upon Default” in Section 11, for consequences of Default.
Foreign Transaction Fees
There is no fee for foreign transactions (see “Foreign Transactions” section for additional restrictions on such transactions).
Card Replacement Fee
There is no fee to replace a Card for any reason.  You are responsible for safeguarding your Card.  We reserve the right to cancel your Credit Account for excessive requests for Card replacement.  The determination of what constitutes excessive shall be made in our sole discretion.
Expedited Card Replacement Fee
We may impose a fee if you request that we expedite the delivery of a replacement Card to you.

15. Consent to Electronic Disclosures

This Credit Account is only available electronically. In order for you to obtain and maintain the Account, you agree to receive all disclosures electronically. If, for some reason, you cannot receive communications electronically in the future, you should close your Credit Account. See the “Cancellation and Change in Terms” in Section of this Cardholder Agreement for more information on closing your Credit Account and the consequences of doing so.

16. Liability for Certain Unauthorized Card Transactions

If you believe that your Card or Credit Account has been used without your permission, immediately lock all your Cards (your Physical card as well as any Virtual Cards) via the App and email us at support@zed.co. You must provide a written statement that includes your name, card number, the peso amount of your suspected error, why you believe it is an error, type of unauthorized transaction(s) with the date(s) and amount(s) of error. Except as provided below, your liability for unauthorized transactions that take place on the Mastercard system is zero pesos (₱0).

We may require you to provide a written statement regarding claims of unauthorized transactions. This protection does not apply if we determine that you have been fraudulent or negligent in the handling of your Card. These provisions limiting your liability also do not apply to any credit transactions that are not processed by Mastercard.

17. Disputes

We are not responsible for refusal by any merchant, financial institution, or automated equipment to honor or accept your Card, and we have no responsibility for merchandise or services obtained by you with your Card except as provided in the “YOUR BILLING RIGHTS” section of this Cardholder Agreement below. You agree to use your best efforts to resolve any dispute concerning merchandise or services with the merchant concerned.

18. Cards

Any Cards that we issue to you belong to us. We, a merchant, or any party acting on our behalf, may retain your Card without prior notice to you. Your Card is issued with an expiration date. We have the right not to renew your Card or Credit Account. If we have not terminated your account or exercised our right not to renew your Credit Account, we will send you a new Card when your prior Card expires.

19. Right of Reversal for Credits to your Account

Error Adjustments: If funds are credited to your Account by mistake or other error, we may correct the situation by deducting the amount of the erroneous credit from your Account without prior notice to you.

20. No Waiver of Rights

We may delay in enforcing our rights under this Cardholder Agreement without losing those rights or any other rights. We may waive enforcement of our rights in one or more instances without waiving those rights or any other rights in other instances.

21. Our Communications With You

You expressly authorize us (which includes, for purposes of this paragraph, our affiliates, agents, and contractors) to monitor or record any calls between you and us. If we need to contact you to service your Credit Account or to collect amounts you owe to us, you authorize us to contact you at any number (a) you have provided to us (b) from which you called us, or (c) which we obtained and believe we can reach you at (including wireless, landline and Voice Over Internet Protocol numbers). We may contact you in any way, such as calling, texting, or email. We may contact you using an automated dialer or using artificial or pre-recorded messages. You understand that anyone with access to your telephone may listen to or read the messages we leave or send you, and you agree that we will have no liability for anyone accessing such messages.  You further agree that we may contact you on a mobile, wireless, or similar device, even if you are charged for it by your provider of telecommunications, wireless and/or data services, and you agree that we will have no liability for such charges. You agree that you are the owner and/or primary user of any telephone number or email address you provide to us and that you will promptly notify us if this is no longer true as to any such telephone number or email address.

22. Assignments and Transfers

Your rights under this Cardholder Agreement may not be transferred by operation of law or otherwise. However, your obligations under this Cardholder Agreement shall be binding upon your estate or personal representatives. We may sell your Credit Account and/or assign or transfer this Cardholder Agreement and our related rights and obligations without prior notice to you and without your consent.

23. Cancellation / Account Closure

You may Close your Credit Account
You may close your Credit Account at any time by notifying us at support@zed.co. We will cancel your Credit Account after we receive notice from you and have a reasonable opportunity to process your notice. You agree that we are not responsible for any costs, damages, or inconvenience you may suffer as a result of our canceling your Credit Account.
We May Close your Credit Account
Even if you are not in Default, we may: close your Credit Account; cancel or suspend your privileges to make Purchases; or otherwise cancel or suspend any Credit Account privileges or benefits (whether or not such privileges or benefits are described or referred to in this Cardholder Agreement). We may do so for any reason, including Credit Account inactivity, in our sole discretion. We will provide you with notice of any such action if required to do so by applicable law.
No More Transactions if Credit Account is Closed
If either you or we close your Credit Account, you may not make further Purchases with your Card or Credit Account. However, you will remain responsible and must pay for all Debt owed to us (extended to you or arising from use of your Credit Account prior to or subsequent to cancellation). We also will return to you any excess payment or credit present after cancellation.

24. Changing Terms of Your CreditAccount

We may amend the terms of this Cardholder Agreement, including the amount of any Credit Account fees, from time to time in our sole discretion. Depending on the nature of the change, the amendment to this Cardholder Agreement may, on or after the date on which it becomes effective, apply to all of your then-outstanding unpaid indebtedness to us under your Credit Account. If required by applicable law, we will (a) send notice of the changes to your email address and (b) give you the right to opt out of the change. If you opt out of the change you will be unable to initiate any further transactions on the Credit Account and you will be required to repay the amount that you owe us under the terms and conditions of the then existing Cardholder Agreement.

25. Governing Law

You understand and agree that (a) this Cardholder Agreement is subject to Philippine law (b) your Credit Account was opened or will be continued after approval by us in the Philippines. If any provision of this Cardholder Agreement is in conflict with applicable law, that provision shall be considered modified to the extent necessary to comply with such law.

26. Obtaining Credit Information

When you applied for your Credit Account, you authorized us to make or have made any credit, employment, or other investigative inquiries we deemed appropriate (including, without limit, obtaining a consumer report) prior to extending credit to you. You also authorized us to make such inquiries and obtain consumer reports when renewing, updating, or collecting on your Credit Account in the future. Upon your request, we will tell you whether we obtained a consumer report and the names and addresses of any consumer-reporting agencies that provided such reports.

27. Foreign Transactions

You may choose to use your Card to make a Purchase in a foreign country (a “Foreign Transaction”). If your Foreign Transaction is in a currency other than U.S. dollars, the transaction will be converted into a U.S. dollar amount by Mastercard, using the procedures established by Mastercard, based on the exchange rate in effect at the time the transaction is processed. The exchange rate between the transaction currency and the billing currency used for processing Foreign Transactions is a rate selected by Mastercard from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate Mastercard itself receives, or a government-mandated rate in effect for the applicable central processing date, in each instance. There is no Foreign Transaction Fee as disclosed in the “Fees” section of this Agreement.

We monitor your accounts for signs of potential fraud, which could include the use of your Card in a manner that is out of the ordinary.If you are planning on using your Card in a foreign country (for example, if you are traveling abroad) please let us know in advance by emailing support@zed.co. Otherwise, it is possible that your Foreign Transactions may be delayed or declined. For example, there are some countries in which we are required by law to block transactions and some countries for which we will not authorize the use of your Credit Account due to fraud, terrorism or other concerns. Those countries change from time to time, so contact us in advance if you are planning on using your Card in a foreign country and want to confirm that the Card can be accepted in that country.

28. Disclosure of Information to Third Parties

By requesting, obtaining or using a Card from us you agree that we may release information in our records regarding you and your Credit Account: (a) to comply with government agency or court orders; (b) to share your credit performance with credit reporting agencies and other creditors who we reasonably believe are or may be doing business with you on your Credit Account; (c) to provide information on your Credit Account to any third party who we believe is conducting an inquiry in accordance with local laws and regulations; (d) to share information with our employees, agents or representatives performing work for us in connection with your Credit Account; or (e) as otherwise permitted by our privacy policy available on our website at www.zed.co/policies/privacypolicy.

29. Furnishing Information to Third Parties

If you believe that we have furnished any inaccurate information relating to your Credit Account to any consumer-reporting agency, you may notify us at the following address: support@zed.co. To help us respond to your notification, you must include the name of the consumer-reporting agency reflecting the inaccurate information, and an explanation of why you believe the information is inaccurate. You understand that you may also contact the appropriate consumer-reporting agency directly.

30. Negative Credit Reports


31. Furnishing Information to Third Parties

If you believe that we have furnished any inaccurate information relating to your Credit Account to any consumer-reporting agency, you may notify us at the following address: support@zed.co. To help us respond to your notification, you must include the name of the consumer-reporting agency reflecting the inaccurate information, and an explanation of why you believe the information is inaccurate. You understand that you may also contact the appropriate consumer-reporting agency directly.

31. Force Majeure

Unless otherwise required by applicable law, we are not responsible and will not incur liability to you for any failure, error, malfunction or any delay in carrying out obligations under this Cardholder Agreement if such failure, error or delay results from causes that are beyond our reasonable control (including, but not limited to inclement weather, fire, flood, acts of war or terrorism, and earthquakes).

32. Arbitration Notice

PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH US AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US.You agree that any dispute between you and Zed arising out of or relating to this Agreement or the Services (collectively, “Disputes”) will be governed by the arbitration procedure outlined below.
(a)  Governing Law. Except as otherwise required by applicable law, the Agreement and the resolution of any Disputes shall be governed by and construed in accordance with the laws of the Philippines without regard to its conflict of laws principles.
(b)  Informal Dispute Resolution. We want to address your concerns without needing a formal legal case. Before filing a claim against Zed, you agree to try to resolve the Dispute informally by contacting support@zed.co. We will try to resolve the Dispute informally by contacting you through email. If a dispute is not resolved within 15 days after submission, you or Zed may bring a formal proceeding.
(c)  We Both Agree To Arbitrate. You and Zed agree to resolve any Disputes through final and binding arbitration, except as set forth under Exceptions to Agreement to Arbitrate below.
(d)  Opt-out of Agreement to Arbitrate. You can decline this agreement to arbitrate by contacting support@zed.co within 30 days of first accepting this Agreement and stating that you (include your first and last name) decline this arbitration agreement.
(e)  Arbitration Procedures. Any dispute arising out of or in connection with this Zed User Agreement (“Dispute”), shall be resolved by amicable settlement, and for this purpose, you agree to enter into negotiations in good faith to arrive at such amicable settlement as provided in Section 24(b). However, if no satisfactory resolution of such Dispute is achieved within thirty (30) calendar days from the commencement of such negotiations, then a party may send a written notice to the other party for the purpose of having the Dispute finally settled by arbitration in Pasig City, Philippines in accordance with the Philippine Dispute Resolution Center, Inc. (“PDRCI”) Arbitration Rules in force at the time of the commencement of arbitration. The arbitral tribunal shall consist of three (3) arbitrators, one (1) of whom shall be appointed by you, one (1) of whom shall be appointed by Zed, and the third shall be appointed by the two (2) arbitrators thus appointed. The arbitral proceedings shall be conducted in the English language. The decision of the arbitrators shall be final and binding on both parties. The costs of arbitration shall be borne by the party whom the arbitral tribunal shall designate as being liable for said costs.
(f) Arbitration Fees. The PDRCI rules will govern payment of all arbitration fees.
(g) Exceptions to Agreement to Arbitrate. Either you or Zed may assert claims, if they qualify, in small claims court exclusively in Taguig City.. Either party may bring a lawsuit solely for injunctive relief to stop unauthorized use or abuse of the Services, or infringement of intellectual property rights (for example, trademark, trade secret, copyright or patent rights) without first engaging in arbitration or the informal dispute-resolution process described above.
(h) No Class Actions. You may only resolve Disputes with Zed on an individual basis, and may not bring a claim as a plaintiff or a class member in a class, consolidated, or representative action. Class arbitrations, class actions, private attorney general actions, and consolidation with other arbitrations are not allowed under our agreement.
(i) Judicial Forum for Disputes. Except as otherwise required by applicable law, in the event that the agreement to arbitrate is found not to apply to you or your claim, you and Zed agree that any judicial proceeding (other than small claims actions) will be brought exclusively in the courts of Taguig City.
(j) Limitation on Claims. Regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to this Zed User Agreement or the Services must be filed within one (1) year after such claim or cause of action arose, or else that claim or cause of action will be barred forever.