WeLab Welcome Offer: 7% Extra Rebate Terms & Conditions

[1] The WeLab Welcome Offer: 7% Extra Rebate (“Offer”) period shall be from 1 October 2020 to 30 November 2020 (both dates inclusive) (“Offer Period”).

[2] The Offer applies to a Welab Bank Limited’s (“WeLab Bank”, “we”, “us” or “our”) customer (“you” or “your”) who successfully opened a bank account with us within the Offer Period.

[3] The Offer is for eligible spending made within 60 days upon a successful account opening (“Transaction Period”). An account opening is deemed to be successful only upon receiving a confirmation email from WeLab Bank indicating that the account opening request is approved, and the account is set up. The maximum aggregated eligible spending for the Offer shall be capped at HK$ 3,000 throughout the Transaction Period (“Eligible Spending”). Our decision as to what constitutes an ineligible or eligible spending (as the case may be) shall be final and conclusive. Ineligible spending, shall include but are not limited to the below:

(a) fees and charges;

(b) quasi-cash transactions including: (i) betting and gambling transactions; (ii) instalment payments; (iii) balance transfers; (iv) cash, token, vouchers payment and/or foreign exchange transactions at non-financial institutions (including cash coupon purchases, purchase of foreign currency, money orders and travelers’ cheques); and/or (v) any transactions at other financial institutions (including purchase of merchandise and services from banks);

(d) online bill payments (including but not limited to water bills, electricity bills, insurance premiums, payments to other banks and credit cards, etc.);

(e) payments to the Inland Revenue Department;

(f) purchase and/or reload of stored value cards or e-wallets; and/or

(g) unposted, canceled and/or refunded transactions, in whole or in part.

We may add to, or remove from, the list of ineligible transactions from time to time at our sole discretion.

[4] The Eligible Spending will be entitled to a 7% cash rebate, equivalent to a maximum of HK$210 cash rebate as a welcome offer. For avoidance of doubt, this Eligible Spending amount will also be entitled to the “WeLab Debit Card 1% Base Rebate Offer”.

[5] You are not entitled to enjoy this Offer if we have opened your WeLab account through other referral programmes or campaigns, unless otherwise specified. For avoidance of doubt, that means if you have input any referral code or campaign code when you set up your WeLab Bank account, then you are not entitled to this Offer.

[6] The Eligible Spending can be made with the WeLab Debit Card (virtual and/or physical). If the Eligible Spending is made in a currency other than Hong Kong Dollars, the cash rebate will be calculated based on Hong Kong Dollars after conversion at the applicable exchange rate.

[7] For the avoidance of doubt, transactions which exceed the HK$3,000 cap made throughout the Transaction Period is still eligible for the “Debit Card 1% Base Rebate Offer” and subject to such offer’s terms & conditions.

[8] The cash rebate amount for each month will be credited into your Core Account within 30 working days from the 1st day of each calendar, based on the amount of the Eligible Spending spent in the preceding calendar month.

For example:

(a) For eligible transactions made between 1 October to 31 October, 2020, the fulfilment of the cash rebate will be made on or before 11 December, 2020.

(b) For eligible transactions made between 1 November to 30 November, 2020, the fulfilment of the cash rebate will be made on or before 12 January, 2021.

(c) For eligible transactions made between 1 December to 31 December, 2020, the fulfilment of the cash rebate will be made on or before 12 February, 2021.

(d) For eligible transactions made between 1 January to 31 January, 2021, the fulfilment of the cash rebate will be made on or before 13 March, 2021.

[9] Our decision as to what constitutes an ineligible or eligible transaction (as the case may be) shall be final and conclusive.

[10] If you have subsequently cancelled or reversed any transactions (in full or partial amount) in respect of which cash rebate amount has been credited to your Core Account, we reserve the right to debit the respective cash rebate amount directly from your Core Account without prior notice.

[11] The cash rebate amount will be rounded to the nearest cent.

[12] All cash rebate amount cannot be transferred, returned, exchanged or converted into other form, unless otherwise specified by us.

[13] You agree and acknowledge that you are not entitled to receive any cash rebate amount if you close your Core Account at any time before the cash rebate amount is credited to your Core Account in the applicable calendar month.

[14] Any breach of applicable laws or regulations, fraud, abuse and/or non-compliance by you (as determined at our sole discretion) will result in forfeiture of your eligibility to participate in the Offer and/or suspension or termination of all or any of your Account with us. We shall not credit the cash rebate amount or where the cash rebate amount has been credited, we reserve the right to debit the cash rebate amount from your Account (including but not limited to your Core Account) without notice and/or take such necessary legal action to recover any outstanding amounts.

[15] We reserve the right to suspend, modify or terminate this Offer and/or amend these terms and conditions at any time without prior notice. In the event of dispute, our decision shall be final, conclusive and binding.

[16]Terms defined in our Account Terms shall have the same meanings when used herein, unless otherwise defined.

[17] In the event of any discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Revised version effective date: 28 October 2020