Remarks:- Fee waived for customers aged 65 or above, or recipients of government disability allowances, allowance for elderlies, or Comprehensive Social Security Assistance.
- We reserve the right to charge any additional costs incurred and shall process your request only upon your acceptance of such additional costs.
- Generally, if you have insufficient funds in your Core Account, any transaction will be rejected. However, there are still a few ways your Core Account could be overdrawn. For example, you may have sufficient funds in your Core Account at the time the transaction is made, but the transaction amount in fact exceeds the balance of funds in your Core Account during the settlement of the transaction. This can happen when you make a transaction in a foreign currency, or give a tip at a restaurant after the bill is paid, etc. We’ll let you know if your Core Account is overdrawn, and you’ll need to deposit funds to bring your Core Account back to a positive balance.
- For withdrawals conducted via the local “JETCO” network, if the withdrawal currency is Renminbi, the withdrawn amount will be converted at exchange rates determined by the “JETCO” member bank which is displayed on the ATM screen at the time of the withdrawal.
- Applicable for debit card transactions effected in currencies other than Hong Kong dollars. For debit card transactions conducted via the “MasterCard® / Cirrus®” network, the transaction amount will first be converted to USD, and then to the related currency based on the daily exchange rates determined by Mastercard® at the time of the transaction. You may refer to Mastercard®’s website for the applicable exchange rate. Also, customers may sometimes be offered the option to settle foreign currency transactions in Hong Kong dollars at the point of sale overseas. Such an option is a direct arrangement offered by overseas merchants and not by Mastercard®. In such cases, customers are reminded to ask the merchants for the foreign currency exchange rates and the percentage of handling fees to be applied before the transactions are entered into as settling foreign currency transactions in Hong Kong dollars may involve a cost higher than the foreign currency transaction fee.
- If there are any disputes regarding your WeLab Bank Debit Card transactions, your account will only be credited after your request for a refund has been approved successfully. If your request has been declined, we will charge an HKD100 handling fee. An additional fee may be charged by MasterCard® if the dispute cannot be resolved at the chargeback stage and proceed to arbitration.
- Funds will be credited to your Core Account on the same day if the remittance instruction from the remitting bank is received before 4 pm on a business day (i.e. Mondays to Fridays; excludes Saturday, Sunday, and public holidays of Hong Kong). The charges do not include other bank fees, such as the corresponding bank handling charges. We waive the relevant handling fees for inward and outward CHATS, and the actual amount received may be different due to the charges. We accept inward CHATS in Hong Kong dollar and US dollar and supports outward CHATS in US dollars. FPS: Faster Payment System. No outbound payment through cross-border FPS will be provided and inbound cross-border FPS in foreign currencies will not be accepted.
- As each individual GoSave 2.0 Time Deposit may have different early withdrawal handling charges, the actual applicable % of the handling charge for early full withdrawal will be shown on the WeLab Bank mobile application prior to confirmation and acceptance of the GoSave 2.0 Time Deposit Terms and Conditions. Early withdrawal fee will be charged in the currency corresponding to the GoSave 2.0 Time Deposit subject to the withdrawal.
- The fund platform fee shall be charged monthly and will be debited from your Core Account on or before the 7th business day of each month. The fund platform fee of a month is an aggregate amount of the daily fee within the month. Daily fee is calculated based on the daily market value of all your settled fund holdings in HKD (or HKD equivalent based on daily reference rate) under Featured Funds Services, excluding all money market fund holdings, multiplied by the fund platform fee monthly rate and divided by the number of calendar days of the month. For fund asset class information, please refer to the fund details page in WeLab Bank app.
- We accept US Dollar inward payments from overseas bank accounts irrespective of routing arrangement. As a consequence of executing transactions, WeLab Bank may receive commission, income or revenue from other entities. The fees, charges or commission charged directly by WeLab Bank from its customer will be as per the applicable schedule of tariff or otherwise agreed with the customer. Not applicable to the charges option selected to “our”. Additional charges may be levied by other banks where incorrect, incomplete or unclear information is provided by customers in the instructions.
- We support US Dollar outward payments to overseas bank accounts irrespective of routing arrangement. As a consequence of executing transactions, WeLab Bank may receive commission, income or revenue from other entities. The fees, charges or commission charged directly by WeLab Bank from its customer will be as per the applicable schedule of tariff or otherwise agreed with the customer. Local fee: we will charge a fee based on the currency, transfer amount and payment method involved. General fees: this change is USD 3 (or HKD equivalent). Please refer to the fee quote on the transaction page for the applicable fee of your transaction. Any fees involved in the transfer will be paid from your USD account, please ensure there is sufficient balance in your USD account to prevent payment rejection. Additional charges may be levied by other banks where incorrect, incomplete or unclear information is provided by customers in the instructions.
- Please note that some overseas banks may impose additional overseas charges (including charges levied by beneficiary bank and correspondent banks). At the overseas banks’ discretion, these charges may be deducted from the payment amount or from the remitter’s account regardless of the charges option. Customer can choose the option “You will pay all handling fees”, the charge is USD 32 (or HKD equivalent) per transaction. All overseas bank fees are included, ensuring the remitted amount reaches the recipient in full. Any fees involved in the transfer will be paid from your USD account, please ensure there is sufficient balance in your USD account to prevent payment rejection. Additional charges may be levied by other banks where incorrect, incomplete or unclear information is provided by customers in the instructions.
- Only applicable for customers register with a non-Hong Kong residential address
