Article 1. Definitions

1.       “VPBank/Bank”: is Vietnam Prosperity Joint Stock Commercial Bank. VPBank includes Branches, Transaction Offices and other sale channels of Vietnam Prosperity Joint Stock Commercial Bank.

2.      “Timo Channel/Timo”: is the channels for e-banking services of VPBank, which allow Customer to perform banking transactions after being identified, open spend account and register e-banking services in accordance with regulations.

3.      “Service”: Is the service of debit card provided by VPBank to Customer.

4.       “Customer/Card holder/Timo Member”: is individual customer subject to Timo Channel, whose information is specified in Application Form for Membership cum Contract for issuance and use of Account, issuance and use of Debit card, E-banking Service.

5.      “Card merchant acquiring”: are organizations, individual accepting to pay goods and services via card according to Contract for card payment signed with Card Payment Organization.

6.      “CDM/ATM (Automatic teller  machine)”: is the device that Card holder can use to perform transactions such as: depositing, withdrawing cash, transferring, paying invoice of goods, service, querying account, changing PIN, searching card information or other transactions.

7.      “POS (Point of Sale)”: is the card reader, a terminal device installed and used at Card merchant acquiring that Card holder can use card to pay for goods, services. POS can be installed at branches, transaction offices of Card payment organization to provide cash to Card holder under agreement of Card payment organization and Card issuance organization.

8.      “CVV/CVC”: is the security code printed in the Card.

9.      “NAPAS”: is National Payment Corporation of Vietnam.

10.  “Application Form”: is Application Form cum Contract for opening and use of Account, issuance and use of Debit Card, E-banking Service signed and/or confirmed by Customer to open and use Timo Debit Card issued by VPBank.

11.  “Contract”: Is Application Form for Membership cum Contract for opening and use of Account, issuance and use of Debit Card, E-banking Service signed between Customer and Bank, including General Transaction Terms and Conditions.

12.  “Card/ Timo Debit Card”: is Timo Domestic Debit Card opened for Customer on the basic of Contract by Bank.

13.  “General Transaction Terms and Conditions about issuance and use of Timo Domestic Debit Card/General Transaction Terms and Conditions about issuance and use of Debit Card/ Terms and Conditions about use of Debit Card” (Hereinafter called as “General Transaction Terms and Conditions”): is the fixed terms notified by VPBank in each period to apply for individual customer opening and using Timo Debit Card at VPBank. General Transaction Terms and Conditions are publicly announced under regulations of laws. If Customer signs Application Form, Customer shall be deemed to accept this General Transaction Terms and Conditions

14.  “Timo Application/ Application”: is the Timo software program which allows Customer to perform financial transactions provided by VPBank on Smartphone or internet browsers.

15.  “Timo Care”: is Call Centre of Timo (telephone number: (+8428) 7300 8466 (overseas) /18006788 (fee free) or other telephone number noticed by Timo in each period) to support customer care and service and serve demands of Card holder.

16.  Other capitalized terms not explained in this General Transaction Terms and Conditions shall be construed and interpreted according to the respective contents in Application Form, products, services participated in by Timo Member in order to ensure to comply with relevant provisions of laws.

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Article 2. Rights and obligations of Card holder

1.    Rights of Card holder

a.  Use Card to withdraw cash and purchase goods and services in the scope of card account balance/spend account/overdraft limit (if any) in spend account at VPBank and the scope of using Card as regulated in Clause 3 of this Article.

b.  Use Card in limits including payment limit, transfer limit, cash withdrawal limit, other limits during using Card under regulation of VPBank noticed publicly on the official website and/or at Timo’s transaction points in each period.

c.   Request VPBank to re-issue PIN, card, suspend or terminate to use card, change daily payment limit under regulations of VPBank.

d.   Receive preferentials for Card holder of VPBank and/or provided by partners of VPBank in each period.

e.   Claim, request VPBank to investigate card transactions of Card holder. The cases of investigation, method, time of submiting investigation request, duration of replying investigation under regulations of laws and VPBank shall be notified publicly on the official website and/or at Timo’s transaction places serving customer in each period.

f.     Be provided with information about card transaction history and balance of card account, limits related to use of card and other necessary information under regulations of VPBank.

g.    Receive deposit balance in spend account connected with Card under regulations of laws.

h.    Request VPBank to close/unlock/lock temporarily using Card in accordance with regulations of VPBank.

i.      Take part in preferential program for Customer opening Timo Debit Card under regulations of VPBank in each period.

j.      Other rights under regulations of laws.

2.    Obligations of Card holder

a.   Directly come to Timo’s transaction points to receive Card/PIN or request VPBank to send Card/PIN via post (not applying for the first issuance of card). In case of registering to receive Card/PIN via post, Card holder agrees and confirms that VPBank shall be considered to complete delivery of Card, PIN when Card, PIN is delivered to the address that Card holder registered at VPBank. Card holder undertakes to bear all risks arising from registration of receiving Card, PIN via this method, unless VPBank’s fault causes such risks.

b.   Take responsibility about Card management and security for the information related to their Card, especially PIN. Not allowed to  assign Card to the other people.

c.  Take responsibility to pay for all transactions arising in card account of Card holder (including transactions with or without signature, PIN or transactions with the signature different from Customer’s signature at the overleaf of Card) if VPBank provides with evidence that Card of Card holder is used to perform transaction in accordance with regulations about Scope of using Card at Clause 3 of this Article.

d.  Not allowed to use Card for any transaction or any illegal purpose. Take responsibility against Bank and laws for fraud, counterfeiting Customer’s Card and Card/Account transaction regarding fraud, counterfeiting.

e.    Customer is the main card holder who is obligated to open Spend account at Bank.

f.   Refund immediately and unconditionally to VPBank for the amounts that Card holder withdraws redundantly, withdraw/pays exceeding balance of spend account, wrong Credit transaction into Account of Card holder and other wrong transactions that Card holder cannot prove legal ownership. Agree with VPBank on automatically debiting these amounts. 

g.  When Card is lost, stolen or PIN is disclosed, Card holder must notice promptly Timo Care Call Center or the nearest Timo’s transaction points and then immediately officially confirm such notice in writing for Timo. In case Card is misused due to loss, stealing, disclosure of PIN, other counterfeiting/fraud before VPBank submits a written notice or legal data message that VPBank handled loss card notice from Card holder; Card holder shall bear and compensate damages for all transactions of Card caused by misuse of Card, except for VPBank’s fault. VPBank shall lock card immediately when receiving the notice of Card holder and handle the notice received from Card holder not later 5 working days for BIN Card issued by SBV or 10 working days for BIN Card issued by Card International Organization from the date of receiving Card holder’s notice under regulations of this Point.

h.   Sign a specimen signature by ballpoint pen in the overleaf of Card immediately receiving Card. When performing transaction at Card merchant acquiring. Card holder’s signature on invoice/payment document must be similar with the specimen signature unless such transactions do not request signature of Card holder.

i.        Not allowed to use card noticed to be lost, stolen and return lost, stolen Card if found at Timo’s transaction points

j.        Fully and promptly pay to VPBank all costs arising from use of Card.

k.      Comply with terms and conditions at the General Transaction Terms and Conditions and regulations of VPBank, Card organization/Association and law on issuance and use of Card.

l.        Activate Timo Debit Card via Timo Application or via other methods deployed by VPBank in each period or before using Card.

m.    Other obligations under provisions of laws.

3.    Scope of using Card and payment obligation of Card holder:

a.   Card holder is entitled to use Card to withdraw cash at CDM/ATM/POS of VPBank/Card payment organization and CDM/ATM/POS in NAPAS league; pay for goods, services at Card merchant acquiring, via internet, email, telephone, etc and use other services due to VPBank and other Banks directly or indirectly connecting to VPBank via one or some intermediate organizations.

Card holder agrees that when entering into payment transaction by Card, depending on each card transaction and request/regulation of VPBank and/or Card merchant acquiring in accordance with laws and Card Support Organization, such card transaction might be verified by the methods including: 

–       Card and Card holder must be presented at Card merchant acquiring; and/or

–       Signature of Card holder on invoice of card transaction; or

–       Enter PIN when performing transaction; or

–       Card information (Card name/Card number/CVV code/CVC, etc) provided via email, telephone, internet, etc; or

–       Any other verification method registered at VPBank by Card holder; or

–       Any other verification method regulated by VPBank, Card Support Organization and Card merchant acquiring.

b.   Card holder fully understands and conceives that when Card holder performs card payment transaction, but Card and/or card holder are not present at Card merchant acquiring (i.e: payment transaction on internet, etc) and Card holder does not protect card information, the card of Card holder might be misused for such payment transactions without Card and/or Card holder’s presence at Card merchant acquiring. By signing in Application Form, Card holder confirms and completely accepts all risks.

c.  Card holder commits taking responsibility to pay to VPBank for all transactions arising and verified by any method stated at point (a) above. Card holder agrees that Account Statement shall be the evidence to confirm transactions, charges, interest (if any) and all debit, credit amounts in the Statement is true and valid and Card holder shall pay all transactions, charges, interest shown in the Statement within the deadline prescribed in the Statement, unless wrongly accounted by VPBank.

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Article 3. Rights and obligations of VPBank

1.     Rights of VPBank

a.  Terminate Card holder’s use of Card by canceling or revoking Card if Card holder violates the terms and conditions about use of Card in the General Transaction Terms and Conditions, use Card counterfeited and/or suspected to be counterfeited.

b.   Be exempt when Card is misused to withdraw cash, pay goods, services and perform other transaction in case Card is lost/stolen/fraud and/or counterfeited, except for VPBank’s fault.

c.    Not be responsible for delivery of goods, quality of goods, services paid by Card. Have right to debit Card account for value of goods, services whether such goods, services are delivered or performed or not.

d.   Be exempt in case Customer’s claim, request of inspection is not paid by Bank or settled by Card Support Organization under regulations of such organizations, except for VPBank’s fault.

e.    Change limits of using Card in accordance with VPBank’s policy in each period.

f.     Other rights under the General Transaction Terms and Conditions and laws.

2.     Obligations of VPBank

a.       Respect rights and benefits of Customer under the General Transaction Terms and Conditions

b.      Fully and promptly perform payment order after checking, controlling legality, validity of such payment order.

c.    Protect Customer’s Card information, not allowed to collect, use, transfer Customer’s information to the third party without Customer’s approval unless required by state competent authority and/or specifically regulated in the General Transaction Terms and Conditions.

d.      Compensate all actual damages arising due to VPBank violates regulations about providing debit card services under the agreement and provision of laws.

e.       Other obligations prescribed by laws.

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Article 4. Fee schedule

1.      During using Card, Card holder shall pay VPBank for fees according to Fee Schedule for card services in accordance with regulations of laws, including the following fees:

a.       Fees regarding opening and use, management of Account/Card prescribed by VPBank in each period.

b.      Fee of Card issuance: is the fee that Card holder must pay when register to issue Card; including: fee of the first issuance, fee of card re-issuance.

c.       Fee of transaction statement: is the fee that Card holder must pay when requesting VPBank to issue a statement for transaction(s).

d.      Fee of investigation: is the fee that Card holder must pay when requesting to investigate about any inaccuracy of performed Card transaction.

e.       Fee of handling card transaction at ATM: is the fee that Card holder must pay when performing card transactions at ATM.

f.        Fee of changing card status: is the fee that Card holder must pay when request to open/lock ATM card.

g.      Service fee or administrative fee for any request, any service or additional utility provided by VPBank or performed at the request of Card holder regarding Card Account of Card holder.

h.      Other fees prescribed by laws and specified at VPBank’s Fee Schedule for card services.

2.      Schedule of Fees for card services shall be regulated and announced publicly on Timo Application, the official website and/or at Timo’s transaction points in each period.

3.      In case of any fee in Schedule of Fees for card services, Timo shall notify Card holder in one of the forms regulated in Article 9 of the General Transaction Terms and Conditions. Change of fees shall take into effect to apply for Card holder after 07 days from the date that Timo notifies and Card holder must pay VPBank fully according to new Schedule of Fees. 

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Article 5. Collecting and keeping, exchanging, extending, re-issuing Card and refusing to accept Card

1.    Card might be collected and kept by VPBank in the following cases:

a.    Fake card

b.    Card illegally used

c.    Serving for inspection, processing crime under provisions of laws.

d.    Other cases that it is allowed to collect and keep card under regulations of VPBank.

2.    Card holder shall have right to request VPBank to exchange, re-issue Card and must pay charge of exchanging, re-issuing Card under regulations of VPBank.

3.    When Card expiries, if Card holder wishes to extend and meet the condition according to VPBank’s request, VPBank might extend duration of using Card.

4.    All costs related to exchange, extension, re-issuance of Card are paid by Card holder. VPBank is entitled to debit card account of Card holder for relevant charges under regulations of VPBank.

5.    Refuse to accept Card: Card shall be refused to pay when:

a.    Card is listed in Card Blacklist.

b.    Card has expired.

c.    Fake card or card related to counterfeiting transaction.

d.    Deposit balance of spend account of main Card holder is not enough to make payment.

e.    Card is notified to have been lost and VPBank has confirmed to have received such notification.

f.     Card holder violates regulations of the General Transaction Terms and Conditions and other stipulations of VPBank about use of Card.

g.   Card holder fails to fully pay charges or other financial obligation according to schedule of charge and/or public regulation on Timo Application, on the official website and/or at Timo’s transaction points.

h.  Card holder violates regulations about card payment of card payment organization and State Bank of Vietnam.

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Article 6. Termination of using Card

1.    VPBank is entitled to suspend or close, cancel validity and revoke Card of Card holder in the following cases:

a.  Card has expired: Prior to expiry date of Card 01 month, Timo shall send a notice to Card holder about issuance of new Card. If within 15 (fifteen) days from the date of notice, VPBank fails to receive any reply from Card holder, VPBank shall consider that Card holder would not request to keep on using Card.

b.  Card holder violates the regulations of the General Transaction Terms and Conditions and/or VPBank/laws related to issuance and use of VPBank’s card. In this case, VPBank shall be exempt from any harm of honor, reputation of Card holder at the request of revoking card.

c.    Cases regarding counterfeiting and risk management.

d.  Terminate use of Card in case there is no card transaction arising during the continuous period of 12 months or more and handle balance in spend account connected to debit card of Card holder under regulations of the General Transaction Terms and Conditions and laws.

e.   Customer does not maintain enough the minimum balance in card account under regulations of VPBank announced publicly on the official website and/or at Timo’s transaction points in each period.

f.    At the request of state competent authority.

g.  Other cases under the General Transaction Terms and Conditions and regulations of VPBank in accordance with laws and publicly announced on the official website and/or at Timo’s transaction points in each period

2.    Termination at the request of Card holder

Customer shall have right to request to terminate use of Card when meeting fully regulations of the General Transaction Terms and Conditions and performing all financial obligations to VPBank prescribed by law. Method of request for termination of using Card is according to regulations of VPBank at the time that Customer desires to terminate use of Card.

3.    Termination of using card at the request of Card holder shall be valid and accepted by VPBank only when Card holder fully performs obligations and responsibilities to VPBank as follows:

a.   Termination of using Card, Card Account/Spend Account shall take into effect only when VPBank accepts and lock the Card in the system. Accordingly, when terminating use of Card, Card holder is obligated to pay VPBank all costs arising (if any) and financial obligations related to opening and use of Card.

b. Card holder must return blank card to VPBank and terminate use of card to pay transaction of sale and purchase of goods/service via internet, telephone and mail. Not including such termination, before card is returned to VPBank, any transaction performed with card or PIN (whether by Card holder or not) is still considered that Card holder performs such card transaction, Card holder must pay for all such arising transaction to VPBank.

c. In case Card holder fails to return blank card, Card holder must pay VPBank charge of card loss (if any) under regulations announced publicly by Bank.

d.   Not depending on Card holder’s request about termination using Card, within 30 days from the date that Card holder requests to terminate use of card and/or the date that VPBank locks card, if card account of Card holder arises any transaction, Card holder must still pay for such transaction to VPBank. Such transactions are the transactions performed by Customer before requesting VPBank to terminate use of Card but payment obligations arise after the time of terminating use of Card.

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Article 7. Investigating, handling claim during using Card

1.  Method of receiving request of investigating, claim of Card holder

a.    When desiring to investigate, claim Card transactions, Card holder might directly come to Timo’s transaction points or contact to Timo Care Call Center and Timo Application (if any) or via other methods deployed by VPBank in each period. In case Card holder requests to investigate, claim via Call Center of Timo, Card holder must be responsible to supplement request form of investigate, claim (according to form of VPBank) in the duration regulated by VPBank in each period. Card holder should fully comply with regulations, requirements and procedures of VPBank when investigating, claiming under provision of laws.

b.    In case Card holder notices VPBank about suspicion of fraud or loss, in order to promptly limit possible loss, Card holder agrees VPBank to consider locking card. In case of locking card, VPBank shall notice Card holder to know and take responsibility for the whole financial loss for Card holder due to use of Card after locking Card.

2. Duration for VPBank to handle investigation, claim:

Depending on each type of Card, (in this case Card is issued BIN by State Bank of Vietnam) and type of Card transaction performed by Card holder (Card transaction in the system, interbank card transaction, payment transaction, cash withdrawal transaction at ATM, etc), VPBank shall settle and reply to Card holder’s requests of investigate, claim in the duration respectively to nature of each transaction on the basic of complying with the legal period of handling inspection, claim prescribed by laws. Duration to settle and reply request of investigate, claim shall be announced publicly by Timo.

3. Handling result of investigation, claim: Handling result of investigation, claim of Card holder shall be performed in the duration under regulations of laws and ensure the following rules:

a.    In case of damage arising not due to Card holder’s fault and/or no event of force majeure under regulation of the General Transaction Terms and Conditions, maximally within 5 working days from the date of noticing result of investigation, claim to Card holder, VPBank shall compensate and refund to Card holder according to written agreement between VPBank and Customer. In case of damages arising due to relevant parties’ fault (Card payment organization, card switching organization, card support organization, card merchant acquiring, etc), faulty party shall compensate and refund to VPBank under agreement between parties in accordance with regulations of laws.

b.    In case of damage arising due to Card holder’s fault: VPBank is not obligated to compensate and refund damage for Card holder.

c.    In case the duration of handling request of investigation, claim under agreement in the General Transaction Terms and Conditions is over but it fails to determine the reason or which party causes fault, within 15 next working days, VPBank and Customer shall negotiate in writing plan of handling investigation, claim or negotiate about refunding temporarily to Card holder until competent authority’s conclusion clarifies fault and responsibility of parties.

d.    In case there is any sign of crime, VPBank shall notice state competent authority under provisions of law on criminal procedure and report State Bank of Vietnam (Payment Department, state bank of local province, city); moreover, Card holder notice in writing about status of handling request of investigation, claim. Handling result of investigation, claim shall be performed by state competent authority. In case state competent authority notices that result of handling is no crime factor, within 15 working days from the date that state competent authority concludes, VPBank and Card holder shall negotiate plan of handling investigation, claim.

e.    In case VPBank, Card holder and relevant parties fail to negotiate and/or agree with process of request of investigation, claim, dispute settlement shall be performed under regulations of laws.

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Article 8. Event of force majeure

1.         Events of force majeure are the event incurring objectively that each party or parties in Contract cannot predict and overcome to perform their obligation under Contract in spite of applying all necessary measures and capability.

2.         Parties agree that one of the following cases shall be considered as event of force majeure:

a. War or disaster or changes of state lawful policies;

b. Decision, request of state competent authority, card support organization taking part in prevention of money laundering, fraud, etc.

c. Error of line breakdown, electricity, network, device, virus, technical errors, interruption in providing service from provider, the third party providing with service to VPBank, etc unexpected incur, out of VPBank’s control. 

d. Events incurring objectively, unpredictably and irreversibly although VPBank applies all necessary measures and capability;

e. Other cases prescribed by laws.

3.         In case of event of force majeure, VPBank might notify Customer to know, apply maximally measures to limit, settle errors, and ensure to continuously provide with service to Customer to the extent possible. Not depending on regulations of this point, one of Parties affected by event of force majeure causing not to perform their obligation under Contract shall not be considered as violation of obligation under Contract and the evidence for the other party to request compensation, punishment for violation and other rights regulated in Contract.

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Article 9. Exchanging, providing information and Provisions of amendment, supplementation

1.         Customer agrees to register to receive information, product, service, program, promotion, etc from VPBank and/or partners of VPBank. Timo shall notice Customer about amendments, supplementations, adjustments of other product, service policy of VPBank including amendments, supplementations, adjustments of VPBank for Service and programs, promotions, etc of VPBank and/or partners of VPBank by one of contact forms deployed by Timo in each period with unlimited quantity and time including but not limited to the form of sending written notice to Customer’s address, phone call, sending SMS to Customer’s phone number, sending email to Customer, notice on the official website of Timo.

2.         Parties agree that the address, phone number and email of Customer stated in Clause 1 above is the address, phone number and email registered in Application Form by Customer. Customer shall be deemed to receive notice of Timo when Timo has noticed via the above forms to the address, phone number and email of Customer or noticed/listed at  Timo’s transaction points or on the website of Timo. In case Customer changes the address, phone number and email, Customer must notice Timo in writing; if Customer fails to notice, Timo shall have right to notify to the old address, phone number and email and default that Customer has received the notice when Timo inform to such address, phone number and email and the content of the notice has value of binding Customer.

3.         Unless otherwise regulated in the General Transaction Terms and Conditions, Customer shall be deemed to accept the whole content of amendment according to the notice of Timo if Customer keeps on using Service at VPBank after 01 day from the date of Timo’s notice. If Customer disagrees with the amended, adjusted content of VPBank, Customer shall be entitled to terminate to use Service before due date and not to pay charge of terminating use of Service before due date to VPBank.

4.         VPBank is allowed to use the information about Customer, credits, account, transaction of Customer including the information from documents provided by Customer; contracts, documents signed between Customer and VPBank to provide to the agencies which have function of credit information provision and/or credit rating, operating legally in Vietnam, or provide competent authorities requiring information provision under regulations of laws or provide relevant partners during co-operating with VPBank to develop, provide products, services of VPBank.

5.         All notices, requests of Customer must be submitted to VPBank in one of the following forms: In writing, via Timo Care Call Center or the nearest Timo’s transaction points Depending on each transaction required by Customer, after receiving notice of Customer in the above forms, VPBank may request Customer to complete relevant procedures to ensure to comply with regulations of laws.

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Article 10. Governing Laws

1.    The General Transaction Terms and Conditions are governed by applicable laws of Socialist Republic of Vietnam.

2.    If any terms or conditions or any part or any clauses of the General Transaction Terms and Conditions is declared invalid or unable to be forced execution by state competent authority, such terms or conditions shall not make other terms and condition, parts or clauses of the General Transaction Terms and Conditions invalid.

3.    The content not regulated in the General Transaction Terms and Conditions shall be performed according to regulations of VPBank’s product, service notified publicly and relevant provision of laws.

4.    The disputes arising from or related to the Contract shall be negotiated to settle on the basic of cooperation, equality and mutual respect. In case Parties fails to negotiate or do not want to negotiate, one of Parties shall have right to submit to competent People’s Court to settle under regulations of laws. Parties agree that the address of Parties stated in Application Form is the address for the Court to determine the authorization to settle dispute under regulations of laws. In case Customer changes the address without noticing to Timo in writing, this means that Customer deliberately hide the address, avoid obligation and VPBank shall be entitled to request the Court to process and settle the case according to common procedures.

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