GoWealth Auto Upgrade Offer New Customers Program Terms & Conditions & GoWealth Auto Upgrade Offer Existing Customers Program Terms & Conditions

GoWealth Auto Upgrade Offer Quota Almost Full

Due to overwhelming response, the GoWealth Auto Upgrade Offer will end at 3pm Hong Kong time on 10 March 2023 (today). You have to successfully place mutual fund(s) subscription order(s) with a one-time investment and/or monthly investment with accumulated amount of not less than HKD 20,000 (or equivalent) with your investment account from 20 February 2023 until 10 March 2023 (today) 3:00 pm Hong Kong time to enjoy an additional 1% as Bonus Cash Rebate Rate on top of the Cash Rebate Rate. (i.e. 3.79% cash rebate rate in total). Eligible Deposit is capped at HKD100,000.

Except the abovesaid change, the Offer is subject to the original T&Cs. Please refer to our official website for details. Note: Investment involves risk.

GoWealth Auto Upgrade Offer New Customers Program Terms & Conditions

[1] The GoWealth Auto Upgrade Offer New Customers Program (“Program”) shall start from 20 February 2023 until 31 March 2023 (both dates inclusive) (“Promotion Period”) unless otherwise specified by us.

[2] The Program applies to Welab Bank Limited’s (“WeLab Bank”, “we”, “us” or “our”) new customers only (“you”, “your” or “Eligible Customer”) who:

(i) Are not our existing loan customers within the Promotional Period and have not drawn down any loans with us within 180 days from the Date of Successful Investment Account Opening (as defined in Clause 3 below);
(ii) Have successfully opened a WeLab Bank Investment Account during the Promotion Period, and
(iii) Have not terminated and/or closed any WeLab Bank account within the past 12 months before the Promotion Period.

[3] The date of successful Investment Account opening is the date when you receive the WeLab Bank Investment Account opening confirmation email (“Date of Successful Investment Account Opening”).

[4] Subject to Clause 15 below, for the first 180 days from the Date of Successful Investment Account Opening, you will receive a monthly cash rebate (“Cash Rebate”), amount of which shall be equal to:

Cash Rebate = Eligible Deposit X (Cash Rebate Rate + Bonus Cash Rebate Rate).

In which:

(a) Eligible Deposit refers to the HKD fund placed in your Core Account capped at HKD100,000.
(b) Cash Rebate Rate shall be equal to 2.80% minus the current prevailing interest rate applicable to your Core Account (“Current Prevailing Interest Rate”)*. For the avoidance of doubt, the sum of Cash Rebate Rate and Core Account Interest Rate shall not exceed 2.80%.

* Our Current Prevailing Interest Rate for HKD for your Core Account is 0.01%. It is for reference only and is subject to change from time to time and at the Bank’s sole and absolute discretion. The latest prevailing interest rate for your Core Account can be obtained from our website or WeLab Bank App.

(c) If you have successfully placed mutual fund(s) subscription order(s) with an one-time investment and/or monthly investment with accumulated amount of not less than HKD 20,000 (or equivalent) with your investment account within the Promotion Period, on top of the Cash Rebate Rate, you can enjoy an additional 1% as Bonus Cash Rebate Rate.

The dates stated in the below example are for illustration only. Due to overwhelming response, the GoWealth Auto Upgrade Offer ended at 3pm Hong Kong time on 10 March 2023.

(d) The Cash Rebate will be calculated daily in simple interest on a 365-day basis (a 366-day basis in the case of a leap year).

[5] Order placement time will be based on Hong Kong Time. If any subscription order is withdrawn, cancelled or declined, such order will not be regarded as successful subscription order.

[6] The Cash Rebate Rate and Bonus Cash Rebate Rate for the Cash Rebate are for reference only and are subject to change from time to time and at the Bank’s sole and absolute discretion. Changes (if any) on the Cash Rebate Rate and Bonus Cash Rebate Rate for the Cash Rebate under this Program will be notified 14 days in advance by us through Email.

[7] You will be given 14 days advance notice of the change in the end date of the Program (if any) by us through Email.

[8] For the avoidance of doubt, the interest of your Core Account will still be calculated,

(i) based on the total daily deposit balance of your Core Account and our prevailing interest rate for the Core Account as at the interest calculation day; and
(ii) accrue daily on a simple and 365-day basis (a 366-day basis in the case of a leap year).

[9] The Cash Rebate will be credited into your Core Account within 15 working days after each calendar month from the Date of Successful Investment Account Opening, except for the Cash Rebate for the period from 20 February 2023 to 28 February 2023, which will be credited into your Core Account within 15 working days after 31 March 2023.

[10] The daily Eligible Deposit balance in the Core Account will be counted based on the day-end balance each day.

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

[12] This Program cannot be used in conjunction with the GoFlexi, GoFlexi-Link Offer, Loan-Deposit-Link Offer, Personal Loan Cash Rebate Offer and WeLab Bank X Tesla 3-in-1 Combo Offer, and this Program is not applicable to any loan customers.

[13] New Customers who draw down any loans with WeLab Bank on the first 180 days from the Date of Successful Investment Account Opening will be entitled to the interest rate offer from the loan programs stated in Clause 12 above and will no longer be entitled to the Cash Rebate Rate nor Bonus Cash Rebate Rate under this Program (if any).

[14] This Program cannot be used in conjunction with any other promotional offer relevant to our Wealth Management Services.

[15] This Program can be used in conjunction with the WeLab Bank Special Savings Interest Rate Program (the “Existing Program”). If any New Customer Eligible Deposit under the Existing Program falls within the definition of Eligible Deposit hereof and therefore is entitled to both the Cash Rebate under the Existing Program and this Program, your Cash Rebate amount under this Program shall be reduced by the Cash Rebate amount entitled from the Existing Program for such deposit.

For details of the WeLab Bank Special Savings Interest Rate Program, please refer to its terms and conditions.

[16] The Cash Rebate cannot be transferred, returned, exchanged, or converted into other forms unless otherwise specified by us.

[17] You agree and acknowledge that you are not entitled to receive any Cash Rebate if you close your Core Account at any time before the Cash Rebate is credited to your Core Account.

[18] 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 Program and/or suspension or termination of all or any of your Account with us. We shall not credit the Cash Rebate or where the Cash Rebate has been credited, we reserve the right to debit the Cash Rebate 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.

[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 a dispute, our decision shall be final, conclusive, and binding.

[20] These terms and conditions shall be read in conjunction with our WeLab Bank Special Savings Interest Rate Program’s terms and conditions, Wealth Management Services Terms and Account Terms. Terms defined in our WeLab Bank Special Savings Interest Rate Program’s terms and conditions, Wealth Management Services Terms or Account Terms shall have the same meanings when used herein, unless otherwise defined. In the event of inconsistency between these terms and conditions, the prevailing order shall be as follows:

(i) these terms and conditions;
(ii) the WeLab Bank Special Savings Interest Rate Program’s terms and conditions;
(iii) the Wealth Management Services Terms; and
(iv) the Account Terms.

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

Core Account’s deposit is a deposit qualified for protection under the Deposit Protection Scheme in Hong Kong.

Effective Date: 20 February 2023

GoWealth Auto Upgrade Offer Existing Customers Program Terms & Conditions

[1] The GoWealth Auto Upgrade Offer Existing Customers Program (“Program”) shall start from 20 February 2023 until 31 March 2023 (both dates inclusive) (“Promotion Period”) unless otherwise specified by us.

[2] The Program applies to Welab Bank Limited’s (“WeLab Bank”, “we”, “us” or “our”) customers only (“you” or “your”) who:

(i) Are not our existing loan customers within the Promotional Period and have not drawn down any loans with us within 180 days from the date of the first Eligible Order Placement (as defined in sub-paragraph iii. below);
(ii) Have successfully opened a WeLab Bank Investment Account before the commencement of the Promotion Period; and
(iii) Have successfully placed mutual fund(s) subscription order(s) with an one-time investment and/or monthly investment with accumulated amount of not less than HKD 20,000 (or equivalent) with your investment account within the Promotion Period (“Eligible Order Placement(s)”).

[3] Subject to Clause 14 below, for the first 180 days from the date of your first Eligible Order Placement, you will receive a monthly cash rebate (“Cash Rebate”), amount of which shall be equal to:

Cash Rebate Rate = Eligible Deposit X Cash Rebate Rate

In which:

(a) Eligible Deposit refers to the HKD fund placed in your Core Account capped at HKD100,000.
(b) Cash Rebate Rate shall be equal to 3.8% minus the current prevailing interest rate applicable to your Core Account (“Current Prevailing Interest Rate”)*. For the avoidance of doubt, the sum of Cash Rebate Rate and Core Account Interest Rate shall not exceed 3.8%.

*Our Current Prevailing Interest Rate for HKD for your Core Account is 0.01%. It is for reference only and is subject to change from time to time and at the Bank’s sole and absolute discretion. The latest prevailing interest rate for your Core Account can be obtained from our website or WeLab Bank App.

(d) The Cash Rebate will be calculated daily in simple interest on a 365-day basis (a 366-day basis in the case of a leap year).

[4] Order placement time will be based on Hong Kong. If any subscription order is withdrawn, cancelled or declined, such order will not be regarded as successful subscription order

[5] The Cash Rebate Rate for the Cash Rebate is for reference only and subject to change from time to time and at the Bank’s sole and absolute discretion. Changes (if any) on the Cash Rebate Rate for the Cash Rebate under this Program will be notified 14 days in advance by us through Email.

[6] You will be given 14 days advance notice of the change in the end date of the Program (if any) by us through Email.

[7] For the avoidance of doubt, the interest of your Core Account will still be calculated,

[8] The Cash Rebate will be credited into your Core Account within 15 working days after each calendar month from the Date of Successful Investment Account Opening, except for the Cash Rebate for the period from 20 February 2023 to 28 February 2023, which will be credited into your Core Account within 15 working days after 31 March 2023.

[9] The daily Eligible Deposit balance in the Core Account will be counted based on the day-end balance each day.

[10] The Cash Rebate will be rounded to the nearest cent.

[11] This Program cannot be used in conjunction with the GoFlexi, GoFlexi-Link Offer, Loan-Deposit-Link Offer, Personal Loan Cash Rebate Offer and WeLab Bank X Tesla 3-in-1 Combo Offer, which means this program is not applicable to any existing loan customers.

[12] Customers who draw down any loans with WeLab Bank on the first 180 days from the date of your first Eligible Order Placement will be entitled to the interest rate offer from the loan programs stated in Clause 11 above and will no longer be entitled to the Cash Rebate Rate under this Program (if any).

[13] This Program cannot be used in conjunction with any other promotional offer relevant to our Wealth Management Services.

[14] This Program can be used in conjunction with the WeLab Bank Special Savings Interest Rate Program (the “Existing Program”). If any New Customer Eligible Deposit under the Existing Program falls within the definition of Eligible Deposit hereof and therefore is entitled to both the Cash Rebate under the Existing Program and this Program, your Cash Rebate amount under this Program shall be reduced by the Cash Rebate amount entitled from the Existing Program for such deposit.

For details of the WeLab Bank Special Savings Interest Rate Program, please refer to its terms and conditions.

[15] The Cash Rebate cannot be transferred, returned, exchanged, or converted into other forms unless otherwise specified by us.

[16] You agree and acknowledge that you are not entitled to receive any Cash Rebate if you close your Core Account at any time before the Cash Rebate is credited to your Core Account.

[17] 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 Program and/or suspension or termination of all or any of your Account with us. We shall not credit the Cash Rebate or where the Cash Rebate has been credited, we reserve the right to debit the Cash Rebate 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.

[18] 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 a dispute, our decision shall be final, conclusive, and binding.

[19] These terms and conditions shall be read in conjunction with our WeLab Bank Special Savings Interest Rate Program’s terms and conditions, Wealth Management Services Terms and Account Terms. Terms defined in our WeLab Bank Special Savings Interest Rate Program’s terms and conditions, Wealth Management Services Terms or Account Terms shall have the same meanings when used herein, unless otherwise defined. In the event of inconsistency between these terms and conditions, the prevailing order shall be as follows:

(i) these terms and conditions;
(ii) the WeLab Bank Special Savings Interest Rate Program’s terms and conditions;
(iii) the Wealth Management Services Terms; and
(iv) the Account Terms.

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

Core Account’s deposit is a deposit qualified for protection under the Deposit Protection Scheme in Hong Kong.

Effective Date: 20 February 2023

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.