Terms and Conditions of WeLab Bank GoWealth “R-Friend Referral” Program

Note: This webpage / document is for information only and does not constitute any investment advice. Investment involves risks, please refer to the Disclaimers herein for details.

  1. Terms and Conditions of WeLab Bank GoWealth “R-Friend Referral” Program (the “Program”)

(These terms and conditions are applicable to the Referrers (as defined hereinbelow) only. For Referee’s rewards, please refer to the terms and conditions of “WeLab Bank GoWealth ‘R-Friend Referral’ Seed Money Offer”.)

Program Period

[1] The Program shall be valid from 22 September 2022 to 31 October 2022 (Hong Kong Time or “HKT”) (both dates inclusive) (“Program Period”) unless otherwise specified by us.

Program Details

[2] The Program is only applicable to a customer (“Eligible Customer”) of Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) who is an existing WeLab Bank customer with a valid WeLab Bank Core Account and Investment Account (as determined by us at our sole discretion) within the Program Period. Eligible Customers are deemed to accept these Terms and Conditions by participating in this Program.

[3] Investment Rebate rewarded in this Program can be exchanged to cash reward by the Referrer (as defined in Clause 4 below) upon making any subscription of model portfolio between 22 September 2022 to 30 November 2022 HKT (both date inclusive) according to Clause 6 below.

Referral Rebate

[4] Eligible Customer (“Referrer”, “you”, or “your”) can enjoy HKD 300 Investment  Rebate (“Referral Rebate”) for each Successful Referral.  Successful Referral shall mean the completion of the following tasks within the Program Period:
(i) the Referrer has successfully referred a person to apply for WeLab Bank Core Account with Referrer's designated referral code (i.e. referral code with "FP")(the “Referee”); and
(ii) The Referee has successfully opened a WeLab Bank Investment Account and received full amount of Seed Money under “WeLab Bank GoWealth ‘R-Friend Referral’ Seed Money Offer” (i.e. HKD800).  For the avoidance of doubt, if the Referee has received less than HKD800 Seed Money under “WeLab Bank GoWealth ‘R-Friend Referral’ Seed Money Offer”, such referral is not a Successful Referral.  For details, please refer to the terms and conditions of “WeLab Bank GoWealth ‘R-Friend Referral’ Seed Money Offer”.

Note: Subscription order cut-off time is 3:00pm HKT of a dealing day.  Therefore, the Referee shall place the subscription order before 3:00pm HKT of 31 October 2022.

Each Referrer can enjoy a maximum of HKD 3,000 Referral Rebate over the Program Period under this Program.

Additional Rebate

[5] At the end of the Program Period, top three (3) Referrers with the most Successful Referrals will win the “R-Friends Champion” with an additional Investment Rebate of HKD 10,000 (“Additional Rebate”).

Exchange of the Investment Rebate to cash reward

[6] Referrer can receive cash reward from Investment Rebate by making subscriptions of model portfolios from 22 September 2022 to 3:00pm HKT of 30 November 2022 (“Eligible Transactions”), under which HKD1 of the subscription amount of Eligible Transactions can exchange HKD1 Investment Rebate to HKD1 cash reward to be received by you.

Examples:

wealth_mgm_en_1.PNG

Rebate/Reward Arrangement

[7] The Referrer will be notified of the total Investment Rebate entitled under this Program (i.e. the total of Referral Rebate and Additional Rebate) within 7 business days by email to the Referrer’s latest email address registered with us or WeLab Bank app after the end of the Program Period. However, we will not give notification to Referrers who receive no Investment Rebate in this Program.

[8] Cash reward amount received by the Referrer will be credited into the Referrer’s Core Account within 2 months after the end of Program Period (i.e. 31 December 2022).

[9] The WeLab Bank Core Account and Investment Account status of the Referrer and the Referee(s) must remain valid and normal at the end of the Program Period and at the time when the cash reward is rewarded or delivered. Otherwise, the rebate/reward will be forfeited absolutely.

[10] If the Referrer and/or the Referee(s) request(s) to close the Core Account(s) and/or Investment Account(s) within one year upon receiving the relevant reward(s), we have the right to deduct the equivalent credited amount from the Referrer’s account prior to the closing of account or collect the equivalent amount from the Referrer through any other means without notice.

[11] If the Eligible Transaction is redeemed, withdrawn, cancelled or declined within 3 months from the end of the Program Period in respect of which the cash reward amount is to be/has been credited to your WeLab Bank Core Account, we reserve the right to debit the respective cash reward amount directly from your Account (including but not limited to the Core Account) or refuse to release the payment of the respective cash reward without prior notice.

Other Important Terms

[12] The Referrer confirms that he/she does not engage in any referral or referral-based business.

[13] The Referrer confirms that all referrals shall not be conducted by means of solicitation and shall be made upon the request of the Referee.

[14] The Referrer agrees and acknowledges that the Referrer is not entitled to receive any rebate/reward under this Program if the Referrer refers himself/herself as a Referee.

[15] WeLab Bank may, from time to time, impose restrictions and changes on the definition of Referee and the details of relevant rebate/reward(s).

[16] The eligibility of the Referrer and the Referee to participate in this Program is subject to our final approval at our absolute discretion. Our decision shall be conclusive and binding.

[17] The relevant rebate/reward(s) cannot be transferred, returned, exchanged or converted into other form, unless otherwise specified by us.

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

[19] We reserve the right to suspend, modify or terminate this Program 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.

[20] The Program can be used in conjunction with WeLab Bank’s other rebate offer(s).

[21] These terms and conditions shall be read in connection with our Account Terms and Wealth Management Services Terms. Terms defined in our Account Terms or Wealth Management Services Terms shall have the same meanings when used herein, unless otherwise defined. In the event of inconsistency between these terms and conditions, the Account Terms and the Wealth Management Services Terms, the prevailing order shall be as follows:

(i) these terms and conditions;
(ii) the Wealth Management Services Terms; and
(iii) the Account Terms.

[22] No person may enforce any of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the Laws of Hong Kong).

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

Effective Date: 22 September 2022

2. Terms and Conditions of WeLab Bank GoWealth “R-Friend Referral” Seed Money Offer (the “Offer”)

(Applicable to Referees Only. For Referrer’s related offer, please refer to the terms and conditions of “WeLab Bank GoWealth “R-Friend Referral” Program”.)

Offer Period

[1] WeLab Bank GoWealth “R-Friend Referral” Seed Money Offer (the “Offer”) is effective from 22 September to 31 October 2022 (Hong Kong Time or “HKT”) (both dates inclusive) (“Offer Period”).

Offer Details

[2] The Offer is only applicable to new customers (“you” or “your”) of Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) who have during the Offer Period successfully opened (i) a WeLab Bank Core Account using referral codes starting with “FP”, and (ii) Investment Account. To be a new customer means you have not terminated and/or closed neither your WeLab Bank Core Account nor Investment Account in the twelve (12) months prior to the commencement of the Offer Period.

[3] You may only use one (1) referral code when opening a WeLab Bank Core Account, and you will only be entitled to the offer/rebate which corresponds with the referral code used. This Offer cannot be used in conjunction with other referral programmes which means if you have input any other referral code when you apply for your WeLab Bank Core Account, then you are not entitled to this Offer.

[4] To be entitled to the cash reward set out in Clause 5 below (“Seed Money”), you should successfully subscribe for a model portfolio during the Offer Period (“Eligible Transaction”). Transaction time will be based on Hong Kong Time (HKT).

[5] The amount of the Seed Money shall be equal to the highest one-time investment amount among all Eligible Transactions executed on the First Eligible Transaction Date (“Seed Money Subscription”), which is capped at HKD 800. First Eligible Transaction Date shall be the day on which your first Eligible Transaction within the Offer Period is successfully executed.

Example:

wealth_mgm_en_2.PNG

Note: Subscription order cut-off time is 3:00pm HKT of a dealing day. If you place an order at or after the cut-off time or on a non-Business Day/non-dealing day of the fund, your order will be processed on the next Business Day.

[6] You can only enjoy the Seed Money once during the Offer Period.

Reward Arrangement

[7] If the Seed Money Subscription is redeemed, withdrawn, cancelled or declined within 3 months from the First Eligible Transaction Date in respect of which the Seed Money amount is to be/has been credited to your WeLab Bank Core Account, we reserve the right to debit the respective Seed Money amount directly from your Account (including but not limited to the Core Account) or refuse to release the payment of the respective Seed Money without prior notice.

[8] The dates and amounts appearing in our record will be conclusive as to (i) the date on which the Core Account and/or Investment Account was opened, terminated or converted, (ii) one-time investment amounts, (ii) the number of the transactions carried out and (iv) the dates on which the transactions are carried out.

[9] Seed Money will be credited to your WeLab Bank Core Account within 2 days of First Eligible Transaction Date unless otherwise specified. Your WeLab Bank Core Account and Investment Account status must remain valid and normal at the time when the Seed Money is rewarded or delivered to you. Otherwise, the reward will be forfeited absolutely.

Other Important Terms

[10] This Offer is not applicable to the staff members of Welab Bank Limited, Welend Limited and Welab Holdings Limited.

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

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

[13] 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.

[14] Except “WeLab Bank GoWealth ‘R-Friend Referral’ Program” and “WeLab Bank GoWealth Cash Rebate Subscription Offer”, this Offer cannot be used in conjunction with other special promotions, discounts or promotional coupons unless otherwise specified.

[15] These terms and conditions shall be read in connection with our Account Terms and Wealth Management Services Terms. Terms defined in our Account Terms or Wealth Management Services Terms shall have the same meanings when used herein, unless otherwise defined. In the event of inconsistency between these terms and conditions, the Account Terms and the Wealth Management Services Terms, the prevailing order shall be as follows:

(i) these terms and conditions;
(ii) the Wealth Management Services Terms; and
(iii) the Account Terms.

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

Effective Date: 22 September 2022

Disclaimer

This webpage/document does not constitute any offer, solicitation, recommendation, comment or any guarantee to the purchase or sale of any investment products or services.

Investment involves risk. The price of an investment fund unit may go up as well as down and the investment funds may become valueless. Part of your investment may not be able to liquidate immediately under certain market situation. Please refer to our Wealth Management Services Terms (including relevant risk disclosures) and relevant fund offering documents for more details of our services as well as the nature and risks of the relevant products.

The investment decision is yours but you should not invest in these product(s) nor services unless the intermediary who sells them to you has explained to you that these products are suitable for you having regard to your financial situation, investment experience and investment objectives.

Before making any investment decisions, you should consider your own financial situation, investment objectives and experiences, risk acceptance and ability to understand the nature and risks of the relevant product(s).

If you have any inquiries on the nature and risks involved in this webpage/document, relevant product(s) and services, trading or investment funds, etc, you should seek advice from independent financial adviser.

The information contained on this webpage is intended for Hong Kong residents only and should not be construed as a distribution, an offer to sell, or a solicitation to buy any securities in any jurisdiction where such activities would be unlawful under the laws of such jurisdiction. If you are outside of Hong Kong, we may not be authorised to offer or provide you with the products and services available in the country or region you are located or resident in.

This webpage/document is issued by Welab Bank Limited. The contents of this webpage/document have not been reviewed by the Securities and Futures Commission in Hong Kong.