WeLab Bank UST Student Referral Program Terms and Conditions

[1] The WeLab Bank UST Student Referral Program (“Campaign”) shall be valid from 3 August 2022 to 31 December 2022 (both dates inclusive) (“Campaign Period”) unless otherwise specified by us.

Referrer Rewards (“Referral Promotion”)

[2] The Campaign is only applicable to an existing customer (“Eligible Customer”, “you” or “your”) of Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) who successfully opened a WeLab Bank account with “USTUST” referral code and owns a valid WeLab Bank account (as determined by us at our sole discretion) within the Campaign Period. Eligible Customers are deemed to accept these Terms and Conditions by participating in this Campaign.

[3] Each Eligible Customer can enjoy a maximum of HKD 5,000 cash reward over the Campaign Period under this Campaign (“Maximum Reward”), which is composed of HKD 100 cash reward for each successful direct referral (“Direct Referral Reward”). The Maximum Reward is the accumulated Direct Referral Rewards earned during the Campaign Period.

[4] Definition of Direct Referee (“Direct Referee”): a new WeLab Bank customer who successfully opens a WeLab Bank account using your unique referral code starting with “FP”, and has not terminated and/or closed his/her WeLab Bank account in the twelve (12) months prior to the commencement of the Campaign Period. During the Campaign Period, you can earn an HKD 100 Direct Referral Reward for each successful Direct Referee who have completed below actions:

(a) successfully opened a WeLab Bank account; and

(b) make eligible transaction(s) (refer to Clause 16-17below for the definition) with WeLab Debit Card for HKD 300 or above between the day of successful account opening and the next 13 calendar days (both dates inclusive).

[5] The number of Direct Referees will be displayed in your WeLab Bank app. The number will be refreshed within 1 working day upon successful opening of the relevant referees’ account. The number will not be refreshed in respect of referees who have only submitted the application, but whose accounts have not been opened.

[6] Direct Referral Reward will be credited to your Core Account after the end of Campaign Period and on or before 31 January 2023.

Referral Account Opening Reward (“Referral Account Opening Promotion”)

[7] The Referral Account Opening Promotion is only applicable to new customers (“you” or “your”) who have successfully opened a bank account at Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) using the referral code of Eligible Customer, starting with the word “FP” within the Campaign 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 Offer Period.

[8] 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. In between the day when you receive the confirmation email and the next 13 calendar days (“Eligible Transaction Period”),

you will be entitled to a HKD 300 cash rebate (“Cash Rebate”) when you made Eligible Transactions (refer to Clause 16-17 below for the definition) with your WeLab Debit Card for HKD 300 or above. The Cash Rebate during the Campaign Period is capped at HKD 300.

For example, if you receive the account opening confirmation email on 10 August 2022, you will receive HKD 300 Cash Rebate if you have made eligible transactions for HKD 300 or above between 10 August 2022 and 23 August 2022 (both dates inclusive).

[9] The Cash Rebate will be credited into your WeLab Bank Core Account within 10 working days of the next calendar month of the end of your Eligible Transaction period.

[10] You may only use one (1) referral code when opening a WeLab Bank account, and you will only be entitled to the Cash Rebate which corresponds with the referral code used. This Referral Account Opening Promotion cannot be used in conjunction with other referral programmes which means if you have input any other invitation code / referral codes when you apply for your WeLab Bank account, then you are not entitled to the Cash Rebate under this Referral Account Opening Promotion.

[11] If the transaction 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. The Cash Rebate amount will be rounded to the nearest cent.

[12] If the total amount of Eligible Transactions conducted within the Eligible Transaction Period is LESS than HKD 300, you will not be entitled to the Cash Rebate.

[13] Transactions which have been cancelled or reversed in full will not be counted as Eligible Transactions.

[14] 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.

[15] By participating in this Offer, it means you have provided your consent that your account name will be visible to your referrer in a partially masked format.

General Terms and Conditions

[16] Eligible Transactions are defined as transactions:

• conducted using your WeLab Debit Card (including (i) your virtual and physical WeLab Debit Card and (ii) your WeLab Debit Card which have been added in your mobile wallet) within the Transaction Period in any currency. If the Eligible Transaction 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; and
• which fall into the Food & Beverage and Groceries categories as defined by the merchant category code/transaction type agreed between the merchants and MasterCard Asia/Pacific (Hong Kong) Limited.

Examples of merchant which may fall into the said categories (including but not limited to):

Food & Beverage: Restaurants, bars, restaurants’ online food ordering, online food delivery platforms, nutrition stores

Groceries : Supermarkets, convenience stores

[17] Our decision as to what constitutes an ineligible or Eligible Transaction (as the case may be) shall be final and conclusive. Ineligible transactions, shall include but are not limited to the below: (a) payment of banking fees and charges (including but not limited to annual fee, overdrawn fee, card replacement fee, ATM cash withdrawal fee, if applicable); (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); (c) bank transfers (by way of Faster Payment System, SWIFT, eDDA, etc.); (d) bill payments (including but not limited to water bills, electricity bills, insurance premiums, payments to other banks and credit cards, etc.); (e) tax payments to the Inland Revenue Department; (f) purchase and/or reload of stored value cards or e-wallets; and/or (g) unposted, cancelled 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.

[18] Any rewards / Cash Rebate under this Campaign cannot be transferred, returned, exchanged or converted into other form, unless otherwise specified by WeLab Bank.

[19] If you (i) close your Core Account at any time before the rewards are credited into your Core Account. (ii) request to close your account within one year upon receiving any rewards / Cash Rebate under this Campaign, we have the right to deduct the equivalent credited amount from your account prior to the closing of account or collect the equivalent amount from you through any other means.

[20] WeLab Bank may, from time to time, impose restrictions and changes on the definition of Direct Referee, maximum referral rewards, amount of Direct Referral Reward and Cash Rebate.

[21] Your eligibility to participate in this Campaign is subject to our final approval at our absolute discretion. Our decision shall be conclusive and binding.

[22] 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 Campaign and/or suspension or termination of all or any of your Account with us. We shall not credit the reward amount or where the cash reward amount has been credited, we reserve the right to debit the Rewards 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.

[23] We reserve the right to suspend, modify or terminate this Campaign and/or amend these Campaign terms and conditions at any time. In the event of dispute, our decision shall be final, conclusive and binding.

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

[25] Should there be any discrepancy or inconsistency between the English and Chinese versions of these Terms and Conditions, the English version shall prevail.

Effective date: 3 August 2022