Unclaimed Asset and Funds

1. What are "Unclaimed Assets and Funds"?

Unclaimed assets and funds refer to any fiat currency or digital assets (e.g., cryptocurrencies, NFTs, etc.) that were sent to a PDAX bank account or wallet address that were not claimed by any user or client. 

This may happen for a number of reasons: 

1. If you sent assets or funds with incomplete or incorrect recipient details to a PDAX bank account or wallet address.

2. If you deposited a supported token into your PDAX account without the appropriate destination tag or you used an unsupported network or an unsupported token. Please note that supported tokens are dependent on your PDAX account level. For more information, see FAQs below.

3. If you deposited using incorrect transfer details or provided PDAX with wrong transfer instructions.

4. If you deposited assets or funds to a PDAX account that has already been closed or terminated.

For more information on supported and unsupported tokens and networks, and using destination tags, you may refer to the following FAQs relating to destination tag here: 

What networks can I use to transfer cryptocurrencies to and from my PDAX wallet? 

Sending crypto? Don’t forget the destination tag and network

Because blockchain transactions are generally irreversible, transferred assets that were deposited using incorrect transfer details, transferring unsupported tokens or tokens in unsupported networks, or transferring tokens to a closed or terminated PDAX account are generally not recoverable and could be permanently lost (kindly see Sections 20 and 25 of our Terms and Conditions at here).

2. Are there penalties for unclaimed assets and funds?

Yes. Your transactions will be subject to an unclaimed asset penalty.

Each transaction that involves unclaimed assets and funds will be subject to a monthly penalty amounting to 3% of the transaction amount or PHP 3,000, whichever is higher.

3. What happens if my unclaimed assets and funds are below PHP 3,000?
   
   

If the total value of the unclaimed asset or fund is below PHP 3,000 when the penalty is applied, the penalty will be deducted from your unclaimed assets and funds, and you will no longer be able to claim such asset or fund. 

4. When will the unclaimed assets penalty be deducted?

The unclaimed assets penalty will be applied monthly based on when the transaction occurred:

• For transactions that occurred from the 1st to the 20th of the current month, the penalty begins on the 20th of the following month, and every month thereafter until such assets or funds are claimed.

• For transactions that occurred from the 21st to the 31st of the current month, the penalty will be applied on the 20th of the month after next, and every month thereafter until such assets or funds are claimed.

Sample Scenario:

1. Scenario 1 : For a deposit of PHP 50,000 on January 19, 2026, the penalty will be computed and applied as follows:

   1. The penalty is the higher of either 3% of the transaction amount or PHP 3,000. Since 3% of PHP 50,000 is PHP 1,500, the penalty of PHP 3,000 will be applied.

   2. The penalty of PHP 3,000 will be applied starting February 20, 2026 and every 20th day of the month thereafter. 

2. Scenario 2: For a deposit of PHP 150,000 on January 21, 2026, the penalty will be computed and applied as follows:

   1. The penalty is the higher of either 3% of the transaction amount or PHP 3,000. Since 3% of PHP 150,000 is PHP 4,500, the penalty of PHP 4,500 will be applied.

   2. The penalty of PHP 4,500 will be applied starting March  20, 2026 and every 20th day of the month thereafter.

3. Scenario 3: For a deposit of 1,000 USDT on March 19, 2026, the penalty will be computed as follows:

   1. The penalty is the higher of either 3% of the transaction amount (in its PHP equivalent) or PHP 3,000. The conversion rate at the time when the penalty is applied will be used.

   2. Assuming 1 USDT = PHP 60.84 on April 20, the 3% PHP-equivalent of the transaction amount is PHP 1,825.20. As this is lower than PHP 3,000, PHP 3,000 worth of USDT will be deducted from the 1,000 USDT or approximately 49.31 USDT will be deducted from the 1,000 USDT.

   3. A penalty equal to the USDT value of PHP 3,000 will be applied starting April 20, 2026 and every 20th day of the month thereafter. As such, the penalty of 49.31 USDT will be applied on April 20, 2026 and a penalty equal to the USDT value of PHP 3,000 will be applied every 20th day of the month after.

4. Scenario 4: For a deposit of 100,000 USDT on March 19, 2026, the penalty will be computed as follows:

   1. The penalty is the higher of either 3% of the transaction amount (in its PHP equivalent) or PHP 3,000. The conversion rate at the time when the penalty is applied will be used.

   2. Assuming 1 USDT = PHP 60.84 on April 20, the 3% PHP-equivalent of the transaction amount is PHP 182,520. As this is higher than PHP 3,000, 3,000 USDT (3% of the 100,000 USDT) will be deducted from the 100,000 USDT.

   3. The penalty of 3,000 USDT will be applied starting April 20, 2026 and every 20th day of the month thereafter.

5. What should I do if I think I have unclaimed assets?

Please contact support@pdax.ph as soon as possible so we can help review and verify your transaction.

Disclaimer:

The contents herein are provided for general informational purposes only and should not be considered as definitive legal, business or tax advice. Trading with any financial product or digital asset (including cryptocurrency) is subject to the user’s risk and own discretion and must be done after adequate and in-depth research and analysis.

Prospective purchasers or sellers of financial products should consult their own counsel, accountants or other advisors as to legal, tax, business, financial and related aspects of the purchase of such financial product, among others. PHILIPPINE DIGITAL ASSET EXCHANGE (PDAX), INC. does not guarantee the performance, and the technical and financial integrity, of the digital assets and their ecosystems, and, to the extent allowed by law, shall not be responsible for any loss sustained by the customer.

For inquiries or complaints, please contact us through the following channels: Chatbot: https://pdax.ph or https://web.pdax.ph/ (click webchat feature); ‘Customer Support’ webpage at https://support.pdax.ph; Email: support@pdax.ph. Please provide us your name, email address, and any other information that we may need to identify you, your PDAX Account, and the particulars of the Order and/or Transaction on which you have feedback, questions, or complaints. If you already have a registered PDAX account, please provide us your registered name.

PHILIPPINE DIGITAL ASSET EXCHANGE  (PDAX), INC. is regulated by the Bangko Sentral ng Pilipinas (BSP) https://www.bsp.gov.ph. You may get in touch with the BSP Consumer Protection and Market Conduct Office through the following channels: Email: consumeraffairs@bsp.gov.ph; Webchat: https://www.bsp.gov.ph (click webchat feature); Facebook:https://www.facebook.com/BangkoSentralngPilipinas; Direct Line: (02) 5306 2584 / (02) 8708 7087; Trunk Line: (02) 8708 7701 loc. 2584; or SMS: 21582277 (for Globe subscribers only). For further details, you may refer to BSP's Inclusive Finance - Consumer Protection.