WeLab Bank R-Friend Referral Campaign Terms and Conditions

[1] The WeLab Bank R-Friend Referral Campaign (“Campaign”) shall be valid from 1 June 2021 to 30 April 2022 (both dates inclusive) (“Campaign Period”) unless otherwise specified by us.

[2] The Campaign is only applicable to a customer (“Eligible Customer”, “you” or “your”) of Welab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) who is an existing WeLab Bank customer with a valid WeLab Bank account (as determined by us at our sole discretion) within the Campaign Period.

[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 reward for each successful direct referral (“Direct Referral Reward”) and HKD 50 reward for each successful 2nd degree friend referral (“2nd Degree Friend Reward”). The Maximum Reward is the accumulated Direct Referral Rewards and 2nd Degree Friend Rewards earned during the Campaign Period.

[4] Definition of Direct Referee (“Direct Referee”): new WeLab Bank customer who successfully opens a WeLab Bank account using your unique referral code. This is considered as Layer 1. You can earn an HKD 100 Direct Referral Reward for each successful Direct Referee onboarded during the Campaign Period. The account opening application needs to be completed and approved before 30 April 2022 to be eligible.

[5] Definition of 2nd Degree Friend (“2nd Degree Friend”): your Direct Referee will receive his/her own unique referral code from us. He/she may use his / her own code to further refer new customers on board. New WeLab Bank customers who successfully opens a WeLab Bank account using the unique referral code of a Direct Referee will be considered as a 2nd Degree Friend. This is considered as Layer 2. If the 2nd Degree Friend onboarded further invites new customers onboard, the success referee will also be considered as your 2nd Degree Friend. This is considered as Layer 3.

[6] You can earn an HKD 50 2nd Degree Friend Reward for each successful 2nd Degree Friend onboarded during the Campaign Period up to three layers. The account opening application needs to be completed and approved before 30 April 2022 to be eligible.

Example:

- Layer 1: You referred a friend: Direct Referral (Customer A) – You are entitled to a Direct Referral Reward of HKD 100

- Layer 2: Customer A referred a friend: Your 2nd Degree Friend (Customer B) – You are entitled to a 2nd Degree Friend Referral Reward of HKD 50

- Layer 3: Customer B referred a friend: Your 2nd Degree Friend (Customer C) – You are entitled to a 2nd Degree Friend Referral Reward of HKD 50

- Layer 4: Customer C referred a friend: Customer D – You are not entitled to any referral reward.

- Your accumulated referral reward earned above is HKD 100 + HKD 50 + HKD 50 = HKD 200

[7] Both the number of Direct Referees and 2nd Degree Friends 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. The number of Direct Referee is not counted towards the number of 2nd Degree Friend.

[8] Both the Direct Referral Reward and 2nd Degree Friend Reward will be credited to your account within 1 working day upon the relevant referee’s account opening. 2nd Degree Friend Reward are only available if your Direct Referral's WeLab Bank account remains open at the time of the 2nd Degree Friend's successful account opening.

[9] You agree and acknowledge that you are not entitled to receive any reward under this Campaign if you close your Core Account at any time before the rewards are credited into your Core Account.

[10] If you request to close your account within one year upon receiving the account opening reward, 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.

[11] WeLab Bank may, from time to time, impose restrictions and changes on the definition of Direct Referee and 2nd Degree Friend, maximum referral rewards, amount of Direct Referral Reward and amount of 2nd Degree Friend Reward.

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

[13] The referral reward cannot be transferred, returned, exchanged or converted into other form, unless otherwise specified by us.

[14] 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.

[15] 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.

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

[17] 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: 23 November 2021

(Updated on 27 January 2022)