WeLab Bank

[1] WeLab Bank X Tesla 3-in-1 Combo Offer (“Promotion”) runs from 15 March until 31 August 2022 (both dates inclusive) (“Promotion Period”).

Tesla 10% Cash Rebate Offer (“Cash Rebate Promotion”)

[2] This Cash Rebate Promotion is only applicable to:

(a) Specific WeLab Bank New Customers：New customers (“New Customers”) who have successfully opened a bank account at Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) using referral codes starting with “TE” or "TR" (“Referral Code”) within the Promotion Period. To be a new WeLab Bank customer means you have not terminated and/or closed your WeLab Bank account in the twelve (12) months prior to the commencement of the Promotion Period; OR

(b) All WeLab Bank Existing Customers who meet following conditions (“Existing Customers”):

i. Own a valid WeLab Bank account in the Promotion Period;

ii. have successfully applied for WeLab Bank Personal Loan in accordance with Clauses [10] to [13] below; and used the relevant promotion code, with prefix ‘TE’, under ‘Promotion Code’ for the loan application . (“Promotion Code”)

[3] New Customers may use both Referral Code and Promotion Code in their Account Opening and Loan application. However, New Customers will only be able to enjoy the Cash Rebate Promotion once under either the Referral Code / Promotion Code. This Cash Rebate Promotion cannot be used in conjunction with other referral programmes which means if you have input any other referral codes NOT starting with “TE” or "TR" when you apply for your WeLab Bank account, then you are not entitled to this Cash Rebate Promotion unless you apply for a WeLab Bank Personal Loan under this Promotion.

[4] The Cash Rebate Promotion is only applicable to  Eligible Transactions  (please refer to clause 6 for the definitions) conducted from the date of successful account opening or the date of successful loan drawdown until the following 5th calendar month ("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.

For example, if you receive the account opening confirmation email on 20 May2022, the Transaction Period starts from 20 May 2022 until 31 October 2022 (both dates inclusive). Transaction time will be based on Hong Kong Time (HKT).

[5] During the Transaction Period, your Eligible Transactions will be entitled to a 10% cash rebate. In all circumstances, the total amount of cash rebate you can earn from this Cash Rebate Promotion in each calendar month is capped at HKD 100 (“Tesla Promotion Rebate”). This Cash Rebate Promotion cannot be used in conjunction of any other promotions otherwise specified by us.

[6] Using your WeLab Debit Card (including (i) your virtual and physical WeLab Debit Card and (ii) your WeLab Debit Card which has been added in your mobile wallet) to conduct below transactions will be defined as Eligible Transactions:

(a) Purchase services from any Tesla Supercharger in Hong Kong; OR

(b) Purchases on Tesla Online Shop; OR

[7] After the end of Transaction Period, the equivalent Tesla Promotion Rebate amount will be credited into your Core Account within 10 working days from the 1st day of the following calendar month.

[8] You have to keep the original sales receipt or official payment record of your Eligible Transactions. In case of dispute, we may at any time ask you to submit the receipt, record, and/or further evidence for inspection and we may keep them.

[9] 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 (i) the respective cash rebate amount and (ii) any cash rebate difference directly from your Core Account without prior notice.

Tesla Exclusive WeLab Bank Personal Loan Offer (“Loan Promotion”)

[10] The Loan Promotion of 3.68% APR is only applicable to new or existing customers (“You” or “Your”):

(a) who have completed the purchase order of any Tesla model vehicle from Tesla Motors HK Limited at any time (“Tesla”) and provided relevant proof of purchase; and

(b) successfully applied for WeLab Bank Personal Loan with either tenor of 36, 48 or 60 months in accordance with the WeLab Bank Personal Loan Terms and Conditions within the Promotion Period using:

i., the relevant promotion code, with prefix ‘TE’ or 'TR', under ‘Promotion Code’ for the loan application ; or

ii. the relevant promotion code, with prefix ‘TE’ or 'TR', under ‘Referral Code’ for account opening

and drawn down the loan within 7 days after approval.

[11] The final approved APR will be subject to our approval.

[12] The Loan Promotion cannot be transferred, returned, exchanged, or converted into other forms, unless otherwise specified by us.

[13] The Loan Promotion cannot be used in conjunction with the below loan promotion offers:

(a) GoFlexi-link Offer

(b) GoFlexi Cash Rebate Offer

(d) Personal Loan Cash Rebate Offer

Special Interest Rate to the Core Account Offer (“Core Account Promotion”)

[14] If you have met the requirements in Clause [10] above, you will be entitled to receive a monthly cash rebate for your Core Account deposit balance held with us (“Deposit Cash Rebate”) starting from the month in which you have drawn down the Loan and the subsequent 11 calendar months.

For the first monthly cash rebate, only the Core Account deposit balance from the drawdown date to month end will be counted.

[15] The Deposit Cash Rebate will be calculated daily in simple interest instead of compound interest and based on:

(a) the daily Core Account deposit balance (up to HKD300,000) and the relevant special interest rate as provided in the table in Clause [15] below; and

(b) on a 365-day basis (a 366-day basis in the case of a leap year).

For the avoidance of doubt, the total interest rate of 0.8% will include your Core Account deposit interest rate.

*The latest prevailing interest rate for your Core Account can be obtained from our website or WeLab Bank App.

[16] The Deposit Cash Rebate from your Special Interest Rate will be credited into your Core Account within 14 working days from the final day of each month. The latest prevailing interest amount will be credited to your Core Account on the first day of each month.

[17] The eligible daily deposit balance in the Core Account will be counted as at 23:59:59 Hong Kong time on each day.

For example:

[18] The deposit in your Core Account is a deposit qualified for protection under the Deposit Protection Scheme in Hong Kong.

General

[19] There are limited quotas for this Promotion and it is rewarded on a first come first served basis. Our records on the available Promotion quotas are final and conclusive.

[20] You agree and acknowledge that you are not entitled to receive the corresponding cash rebate if you:

Tesla Promotion Rebate

(a) close your Core Account at any time before we award the cash rebate;

(b) the cash rebate amount is HKD 0.01 and below;

(d) reverse your Eligible Transaction (including but not limited to a refund of the products or cancellation of purchase); and/or

(e) early repay your Tesla Exclusive Loan before the loan tenor ends.

Deposit Cash Rebate

(a) close your Core Account at any time before we award the cash rebate; and/or

(b) early repay your Tesla Exclusive Loan before the loan tenor ends.

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

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

[23] 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 Promotion 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.

[24] These Promotion terms and conditions shall be read in connection with our Account Terms (the “Account Terms”) and WeLab Bank Personal Loan Terms and Conditions. In the event of inconsistency between these Promotion terms and conditions, the Account Terms, the WeLab Bank Personal Loan Terms and Conditions, these Promotion terms and conditions shall prevail.

[25] Unless otherwise defined, terms defined in our Account Terms and/or the WeLab Bank Personal Loan Terms and Conditions shall have the same meanings as in these Terms and Conditions when used herein.

[26] Your eligibility to participate in this Promotion is subject to our final approval at our absolute discretion.

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

[28] There are no fees and charges for any Eligible Transaction made by using WeLab Debit Card at any Supercharger of Tesla, unless otherwise notified by us. However, we reserve the right to levy other fees and charges as shown in our General Service Charges (if applicable).

[29] All products and/or services are directly sold and supplied to you by Tesla. Tesla shall be solely responsible for all related obligations and liabilities. We shall not be liable and shall have no responsibility in relation to the accuracy, content, availability, and/or omission of the product and/or service information found in any Supercharger of Tesla.

[30] Products and/or services provided directly by Tesla may be subject to their terms and conditions. If you have any complaints or disputes in relation to their products and/or services, you shall directly contact your Tesla delivery advisor.

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

To borrow or not to borrow? Borrow only if you can repay!

Effective date: 15 March 2022

(Updated on 7 July 2022)