WeLab Debit Card 1% Base Rebate Offer Terms & Conditions

[1] The Debit Card 1% Base Rebate Offer (“Offer”) period shall be from 1 October 2020 to 30 November 2020 (both dates inclusive) (“Offer Period”), unless otherwise specified.

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

[3] Your WeLab Debit Card will be automatically enrolled to the Offer.

[4] During the Offer Period, a 1% cash rebate will be awarded to each eligible transaction made by the WeLab Debit Card (virtual and/or physical WeLab Debit Card) 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.

[5] The maximum aggregated transaction amount eligible for the cash rebate shall be capped at HK$50,000 (“Eligible Spending”) per month and HK$100,000 throughout the Offer Period. That is equivalent to a maximum cash rebate of HK$500 per month and HK$1,000 throughout the Offer Period.

[6] 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 month, 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.

[7] 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);

(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, 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.

[8] This Offer can be used in conjunction with other campaigns and promotions during the Promotion Period. For example:

If you have made a transaction between 1 October to 15 October 2020, you are entitled to both the 8% Cash Rebate Offer along with this current Offer. The eligibility of the 8% Cash Rebate Offer will be subject to its terms & conditions, including the maximum spending amount eligible for the offer.
If there is other merchant offers or discounts in place, you will be entitled to the discount, and the final payment amount will be entitled to this 1% cash rebate Offer.

[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 the respective cash rebate amount directly from your Core Account without prior notice.

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

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

[12] 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.

[13] 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.

[14] 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.

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

[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: 1 October 2020