Activity Details
Selected uSMART customers who open WeLab Bank account successfully can enjoy:
- HK$200 Cash Reward* (successfully open a WeLab Bank account)
- HK$100 Cash Reward* (select WeLab Bank for eDDA deposits in the uSMART App then authorize on the WeLab Bank App)
- 8% Time Deposit Offer*# (Enjoy 1-month 8% Time Deposit Offer at WeLab Bank#)
*This promotional offer and related rewards are provided by WeLab Bank and distributed via the WeLab Bank HKD core account. Terms and conditions apply, please refer to WeLab Bank website www.welab.bank for details.
#The maximum principal amount is capped at HK$100,000
*Customer must fill in referral code "WLBUSL" during account opening to receive the rewards.
The following terms and conditions applies to customers of uSmart Securities Limited (“ uSMART”) who will open a core account at WeLab Bank using the designated referral code obtained from uSMART.
1. The following capitalized terms used in these Terms and Conditions have the following meanings, unless the context otherwise requires: “Campaign” means this “ WeLab Bank x uSMART Account Opening Reward Campaign”. "Campaign Period" means the period from 6 September 2024 to 31 December 2024 (both dates inclusive). "Core Account" means the primary WeLab Bank account opened with WeLab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) and has the same meaning as used in the “Account Terms”. "Date of Successful Core Account Opening" means the date on which a New Customer receives WeLab Bank's email notifying successful Core Account opening. "New Customer" means an individual who (i) has not held any WeLab Bank account in the preceding twelve (12) months of the Campaign Period; and (ii) successfully opens a Core Account using a designated referral code obtained from uSMART for this Campaign during the Campaign Period.
2. This Campaign is only valid for New Customer.
3. New Customer can only use one designated referral code when opening a Core Account. Referral codes cannot be applied retroactively after a successful account opening. The specific offer entitlement will depend on the referral code used.
4. There are limited quotas for this Campaign and it is rewarded on a first come first served basis. Our records on the available quotas shall be final and conclusive. You agree and acknowledge that the quota for this Offer will be used up anytime during the Campaign Period without prior notice.
5. All cash reward and any offers provided in this Campaign (“Cash Reward”) cannot be transferred, returned, exchanged, and/or converted into other forms, unless otherwise specified by us.
6. You agree and acknowledge that you are not entitled to receive any Cash Reward amount if (i) the quota for the Offer has been used up when you open the Core Account or set up the eDDA and/ or (ii) you close your Core Account at any time before the Cash Reward amount is credited to your Core Account in the applicable calendar month.
7. Your eligibility to participate in this Campaign is subject to our final approval at our sole discretion.
8. Our records on the dates and amounts shall be final and conclusive as for (i) the date on which the Core Account was opened, terminated or converted; (ii) the date on which the eDDA was successfully set up; and/or (iii) the deposit amounts.
9. Any suspected breach of applicable laws or regulations, fraud, abuse and/or non-compliance with these Terms and Conditions 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 Cash Reward or where such 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 any necessary legal action to recover any outstanding amounts.
10. Unless otherwise specified, the offers under this Campaign cannot be used in conjunction with offers, discounts or promotions provided under other New Customer campaigns.
11. We reserve the right to suspend, change and/or terminate this Campaign and/or amend these terms and conditions (including but not limited to any dates specified under each offer) anytime at our sole discretion without prior notice. The Bank accepts no liability for any such suspension, change or termination.
12. No person other than the eligible customers and the Bank will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of these Terms and Conditions.
13. In the event of any dispute arising from the Campaign, the decision of WeLab Bank Limited shall be final, conclusive and binding.
14. These terms and conditions are governed by and will be construed in accordance with the laws in Hong Kong Special Administrative Region of the People’s Republic of China.
15. These terms and conditions shall be read in conjunction with our “GoSave 2.0 Time Deposit Terms and Conditions” and “Account Terms”. Terms defined in our “GoSave 2.0 Time Deposit Terms and Conditions” or “Account Terms” shall have the same meaning when used herein, unless otherwise defined. In the event of any inconsistency between these terms and conditions, the “GoSave 2.0 Time Deposit Terms and Conditions” and the “Account Terms”, the prevailing order shall be as follows: (i) these terms and conditions; (ii) the “GoSave 2.0 Time Deposit Terms and Conditions”; and (iii) the “Account Terms”.
16. Should there be any discrepancy or inconsistency between the English and Chinese versions of these terms and conditions, the English version shall prevail. Offer 1 – HKD200 Cash Reward for Account Opening
17. New Customer can enjoy HKD 200 cash reward (“Account Opening Reward”) after they successfully opened the WeLab Core Account during the Campaign Period.
18. New Customer can only enjoy Account Opening Reward once under this Campaign.
19. The Account Opening Reward will be credited into your Core Account on or before the following dates: • Accounts opened during 6 – 30 September 2024 (inclusive) : 31 October 2024 • Accounts opened during 1 – 31 October 2024 (inclusive) : 30 November 2024 • Accounts opened during 1 – 30 November 2024 (inclusive) : 31 December 2024 • Accounts opened during 1 – 31 December 2024 (inclusive) : 31 January 2025
20. We reserve the right to deduct the corresponding Account Opening Reward amount before account closure if the Core Account is closed within 1 year after the Account Opening Reward is credited into your Core Account, or collect the corresponding Account Opening Reward amount through other means without any notice. Offer 2 – HKD100 Cash Reward for binding eDDA
21. New Customer can enjoy HKD 100 cash reward (“eDDA Binding Reward”) after they have successfully authorized and completed the binding of the eDDA function from the uSMART app to the WeLab Bank app during the Campaign Period.
22. New Customer is required to set up the eDDA from the uSMART app following the in-app instructions and select WeLab Bank as the source of funding. Afterwards, log in to the WeLab Bank mobile app > click on the “Profile Icon” on the top right > "Settings" > “Direct Debit Authorization Overview” > “Pending for instruction” > to “Approved”. The customer will receive a successful binding notification from the Bank (via push, email or sms) upon completion of the eDDA binding procedure. eDDA binding must be authorized and approved (with successful binding notification) in order to qualify for the eDDA Binding Reward.
23. New Customer can only enjoy eDDA Binding Reward once under this Campaign.
24. The eDDA Binding Reward will be credited into your HKD Core Account on or before the following dates (eDDA binding approved date is determined by the receipt of the successful binding notification from the Bank): • eDDA binding approved during 6 – 30 September 2024 (inclusive) : 31 October 2024 • eDDA binding approved during 1 – 31 October 2024 (inclusive) : 30 November 2024 • eDDA binding approved during 1 – 30 November 2024 (inclusive) : 31 December 2024 • eDDA binding approved during 1 – 31 December 2024 (inclusive) : 31 January 2025 Offer 3 – GoSave 2.0 Deposit Rate of 8.0% p.a. for one month
25.New Customer opening a Core Account during the Campaign Period can set up a designated GoSave 2.0 Time Deposit in 30 days from the Date of Successful Core Account Opening with the following features (“Designated GoSave 2.0”): • 1-month tenor at 8.0% p.a. interest rate • Maximum principal amount of HKD100,000
26. Each New Customer can set up only one Designated GoSave 2.0.
27. The Designated GoSave 2.0 will be shown in the App within 2 business days after the Date of Successful Core Account Opening.
28. The applicable tenor of each GoSave 2.0 Time Deposit and interest rate shall be in accordance with the Tenor shown in our App at the time each GoSave 2.0 Time Deposit is made available.
29. This offer cannot be used in conjunction with other Time Deposit offers, discounts or promotions provided under other campaigns.
Effective Date: 16 September 2024