The Luv Stash Promo Terms & Conditions
Promo period: 12:01AM of February 14, 2022 – 10:00PM of February 16, 2022
Per DTI Fair Trade Permit No. FTEB-136363 Series of 2022
- Program period: February 14, 2022 – February 16, 2022.
- The participation in the program is open for all Tonik customers with an open Tonik Account. Customers who have closed and reopened their Tonik Account are not eligible to participate in this program.
- Tonik customer must have a verified Tonik Account to start a Group Stash. To verify your Tonik Account, you must submit any one (valid) of the six eligible government IDs. Learn more here:https://tonikbank.com/faq/how-can-i-upgrade-my-tonik-account
- To be eligible to obtain the program reward of the current Group Stash higher rate that is credited to at least 3 contributing savers, participants in this program must have completed all of the following missions during the Promo Period (12:01AM of February 14, 2022 to 11:59PM of February 16, 2022):
- Successfully create a new Tonik Group Stash from 12:01AM of February 14, 2022 to 10:00PM of February 16, 2022
- Invite 1 saver to the Tonik Group Stash from 12:01AM of February 14, 2022 to 10:00PM of February 16, 2022
- Both savers in the new Tonik Group Stash must top at least P1 each to that Group Stash from 12:01AM of February 14, 2022 to 10:00PM of February 16, 2022
- Participants who complete all three actions any time during the Promo Period will get the higher Group Stash interest rate with just 2 savers instead of 3 savers, from February 20, 2022 until they close the stash.
- If Tonik revises the interest rate given to the regular (non-promotional), Group Stash that fulfills the conditions for higher interest rate (having 3 savers where 1 owner + 2 members need to contribute at least P1 each), the program reward in form of interest rate will follow the regular (non-promotional) Group Stash that fulfills the conditions for higher interest rate (having 3 savers where 1 owner + 2 members need to contribute at least P1 each).
- This promotion only applies to a Group Stash that is opened, with a successful invitation to 1 saver, and successful contributions from both savers (owner + 1 member), during the Promo Period. Actions done before or after the Promo Period are not considered as fulfilment of the promotion requirement.
- This promotion only applies to 1 Group Stash. Should there be more than 1 Group Stash created during the Promo Period, Tonik has the right to determine which Group Stash will receive the promotional interest rate. Tonik's decision on determining which group stash receiving the promotional rate is final and binding.
- Tonik reserves the right to cancel the participation of participants if any abuse, fraud, or proven suspicious activities are found, or if found to violate the Terms & Conditions of this program, the Tonik General Terms & Conditions, or any prevailing regulations of the Bangko Sentral ng Pilipinas.
- By participating in this program, you have read, understood, and agreed to all applicable terms and conditions of the Luv Stash Promo.
- For more information, you can reach out to Tonik Customer Care through the in-app chat feature in the Tonik application or reach out via other channels: firstname.lastname@example.org and +63 2 5322 2645
- Group Stash can be accessed by the Group Stash owner (i.e. person who opens, starts the Group Stash, and invites members to the Group Stash) and Group Stash invited members. The deposit of funds is solely through the Tonik Account of the Group Stash owner and the Tonik Accounts of Group Stash members, while the withdrawal of funds is solely through the Tonik Account of the Group Stash owner. The Group Stash will not be linked to the Group Stash owner’s ATM/Debit Cards.
- Funds transferred to a Group Stash will belong to the owner of the Group Stash. Usage of funds is solely within the discretion of the owner of Group Stash.
- Savers in the Group Stash must contribute at least P1 each in the Group Stash to earn the 4.5% p.a. interest rate. If less than the required group stash savers are contributing, the Group Stash will get the Solo Stash interest rate of 4% p.a.
- What are the requirements for me to join the Luv Stash Promo?
It’s easy! All you need to do is have a Tonik Account, create a Group Stash, invite your special someone (who should also have a Tonik Account) to the Group Stash, and have the both of you contribute the Group Stash with at least PHP 1 during the Promo Period.
- How do I create a Tonik Account?
Just download the Tonik App, go through the onboarding process, and make sure to upload a valid ID for verification.
- How do I create a Group Stash?
After creating and verifying your Tonik Account, go to the “Stashes” tile, and create a Stash. From there, you are free to invite your Group Stash partner.
- Does my Group Stash partner have to be a significant other so I can join the promo?
Though we’re targeting couples and significant others for this promo, your Group Stash partner doesn’t have to be strictly on romantic terms. It can be a best friend, or your sibling, or anyone else you trust enough to save with! As long as it’s a special somebody you have financial goals with. Luv is everywhere, after all!
- Do I need to sign up for the Luv Stash Promo in order to participate?
No, there is no sign-up process or requirement for this promo.
- I closed my Tonik Account before the start of the program. Can I participate in this program if I reopen my Tonik Account?
No, customers who have closed and reopened their Tonik Account are not eligible to participate in this promo, sorry!
- If I make more than one Group Stash and do the same mechanics during the promo period, will those other Group Stashes also get the interest rate that is only credited to at least 3 savers contributing?
Nope! This promotion only applies to 1 Group Stash. Should there be more than 1 Group Stash created, Tonik has the right to determine which Group Stash will receive the promotional interest rate. Tonik's decision on determining which group stash receiving the promotional rate is final and binding
- How much do I have to contribute to get the interest rate that is only credited to at least 3 savers contributing in a Group Stash?
Both you and your partner in your Group Stash must contribute at least PHP 1 during the Promo Period.
- I have an existing Group Stash with a partner already. If I top-up this Group Stash on February 14, 2022, will I be able to join the promo and get the interest rate that is only credited to at least 3 savers contributing in a Group Stash?
No, luv! Sorry, but we’re only qualifying Group Stashes that were opened and topped up during the Promo Period. Existing Group Stashes don’t count.
- When will the new interest rate that is only credited to at least 3 savers contributing in a Group Stash reflect on my Group Stash with me and my partner?
The new interest rate on your Group Stash will start on February 20, 2022.
- What are savers, members and owner of a Group Stash?
An owner is the person who opens the Group Stash.
Members are the people invited by the owner of the Group Stash to contribute in the Group Stash.
Savers can be either owner or members.
Specific notes on Group Stash:
Frequently Asked Questions: