I. General

  1. These Terms and Conditions are deemed valid when you register for Timo Services and expire upon the termination of Timo Services.
  2. Timo has discretion to accept or reject your registration in compliance with these Terms and Conditions and National Laws and Regulations.
  3. By completing the registration process, you will be able to perform account, payment and savings transactions using the following account types: Timo Spend, Timo Goal Save and Timo Term Deposit. A Timo Debit card will be issued immediately and will be valid for the duration of the Contract.
  4. When accessing Timo at a later date, you will be eligble to apply for other additional accounts/services which Timo offers from time to time by providing your digital authorisation Security Codes. You hereby agree that every application to additional products/services sent to Timo with your Security Codes shall mean you agree to the product/service’s Terms and Conditions, has the same legal value as the application with your wet signature and shall form a binding contract between you and Timo, given that Timo accepts such application.
  5. You may receive an OTP when performing certain Timo transactions, either via a Push Notification sent directly to your mobile App, or Short Message Service (SMS) to your mobile phone number, or email to your email address registered with Timo. Delivery time of the OTP is dependent on the service level of your subscribed Internet Service or Mobile Network Provider. If you request for an OTP more than once, the previously requested OTP will be rendered invalid and the latest request will be the valid OTP for use on Timo.
  6. Your use and access to Timo Services shall not be transferred, pledged or otherwise used by any other person.
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II. Your Rights

  1. You may use all Timo Services including registered services and future services which will be provided by Timo.
  2. If your information has changed or is incorrect, you may edit sections of your profile using the App, or request to change your personal information by contacting Timo.
  3. You may participate in Member programs that are offered by Timo from time to time.
  4. You may opt out of receiving promotional emails and text messages from Timo by following the instructions in those messages. Please note that if you opt out, Timo may still send you transactional or relationship messages, such as those about your account or our ongoing business relations.
  5. You may disable the collection of location information by Timo within the mobile App, through your device operating system settings or through your online account settings. The standard uninstall process to remove the mobile App from your device will also disable the collection of location information.
  6. You may set your browser to remove or reject browser cookies. Please note that if you choose to remove or reject cookies, this could affect the availability and functionality of Timo Services.
  7. You may request Timo to provide support regarding any matter of concern, including but not limited to: failure in accessing Timo Services; suspicion of exposure of your Security Codes; resetting of Security Codes; fixing of bugs; or technical problems related to the security of Timo Services.
  8. Other rights under the National Laws and Regulations.
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III. Your responsibilities

  1. You shall ensure that all information provided is accurate and correct, and to update and notify Timo of any changes to your information.
  2. You shall take all precautions to ensure and prevent unauthorised and fraudulent use of any Timo Services and your Security Codes, including but not limited to the following:
    • Security Codes must be kept secret, not accessible to any person and not written down in any form or manner which may be deciphered by anyone or kept together or disclosed or exposed to any person (including the employees of Timo) under any circumstances and at any time. Any advice sent to you containing the Security Codes must be destroyed immediately after you have received and read it.  Any e-mail, Push Notification or SMS requesting your Security Codes should be reported to Timo immediately;
    • Ensuring that your device or web browser you are using will not allow recording of your Security Codes or activities, and that the necessary anti-spyware and firewalls are installed;
    • If any Security Code is exposed or suspected of being exposed to any person, you shall immediately change that Security Code, as the case may be to protect your own interest. Timo shall not be held responsible or liable for any loss or damages suffered in such circumstances;
    • Logging out of the web App and/or closing the mobile App when you finish using Timo Services;
    • Being careful when using public computers, public wireless network to access Timo Services.
  3. You shall not interfere with Timo Services or use Timo Services in an unauthorised manner; you agree that you will not:
    • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor Timo Services or any portion of Timo Services, without Timo’s expressed written consent, which may be withheld at Timo’s sole discretion
    • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search Timo Services, other than the search engines and search agents available through Timo Services and other than generally available third-party web browsers
    • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of Timo Services
    • Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of Timo Services.

Other responsibilities under the National Laws and Regulations.

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IV. Timo’s Rights

  1. All transactions carried out through your Security Codes, wet signature or electronic signature shall be deemed as instructions and authorisations given by you to Timo. Such requests shall be irreversible and irrevocable once delivered. Timo is hereby authorised to rely upon and act in accordance with the instructions given by or on behalf of you without inquiry on its part as to the identity of the person giving or purporting to give such instructions or as to the authenticity of such instructions and that Timo may in no way be responsible for any misuse or unauthorised use of messages or instructions given to Timo. All costs and expenses incurred in respect to amendments, reversals, cancellations and/or refunds shall be solely borne by you.
  2. Timo may decide and apply account and transaction limits.
  3. Timo has discretion to reject your request if you failed to provide correct identification information.
  4. Timo shall be entitled to impose service fees, commissions and other charges for the Timo Products & Services you utilise. Timo reserves the right to vary such service fees and charges from time to time by way of updating the Timo Member Fee Schedule posted on the Timo website. By continuing to use Timo Services after the date of such updates, you thereby give your consent to such changes. You hereby authorise Timo to debit your Account for such fees, commissions, charges and taxes.
  5. Timo may request you to provide personal information, which includes ID/Passport, signature and other information required for Timo procedures, National Laws and Regulations and VPBank regulations.
  6. Timo may collect personal information you provide when you apply to Timo Services, when you use the App, or when you communicate with us.
  7. As you use Timo Services to perform financial transactions, Timo may collect information in connection with each transaction, including transaction time, transaction value, location, and merchant details. In the future, Timo may also collect photos, memos or other information that you attach to your transactions.
  8. When you access and use Timo Services, Timo may automatically collect device, log, location, and tracking information about you.
  9. Timo may use your information, including personal information, for the following purposes:
    • To verify your identity when using Timo and prevent fraud;
    • To provide, maintain and improve Timo Services;
    • To provide and deliver the products and services you request, process transactions and send you related information, including confirmations;
    • To send you technical notices, updates, security alerts and support and administrative messages;
    • To respond to your comments, questions and requests and provide customer service;
    • To communicate with you about products, services, offers, promotions, rewards, and events offered by Timo and others, and provide news and information Timo thinks will be of interest to you;
    • To monitor and analyze trends, usage and activities in connection with Timo Services;
    • To personalise and improve the products and services and provide advertisements, content or features that match user profiles or interests;
    • To process and deliver contest or promotion entries and rewards;
    • To link or combine with information Timo gets from others to help understand your needs and provide you with better service.
  10. Timo may collect, disclose, report relevant information relating to current and former members, including personal information, to affiliates and non-affiliated third parties, such as:
    • Financial service providers, e.g. those who sell through the Timo channel;
    • Other Timo users, e.g. payees to whom you send money;
    • Non-affiliated non-financial companies, e.g. email, marketing, security service providers;
    • Authorities, e.g. for fraud and anti-money laundering investigations;
    • Other authorities as specified under FATCA.
  11. Timo’s authorised employees or agents of Timo have the right (but not responsibility) to monitor and record all or portions of your telephone conversations (if any) with Timo for quality control, customer service, employee training, security, and other lawful purposes. You agree that you consent to monitoring and recording calls between you and Timo. Your consent will be ongoing and need not be confirmed prior to, or during such monitoring or recording, except otherwise required by law.
  12. Timo may send you Push Notification, SMS, or e-mail messages using details you registered with Timo for: OTP, service notifications, promotion information, fees and charges. You agree that you are aware that such content may be viewable by anyone who has access to your email or mobile device. If your email address or your mobile device changes, you are responsible for informing Timo of that change.
  13. Timo may use your feedback, suggestions, or ideas in any way, including in future modifications of Timo Products & Services, other products or services, advertising or marketing materials.
  14. Timo may allow service providers to serve advertisements on our behalf across the Internet. If you click an advertisement, the service providers may also collect information, which may be used by Timo or the service provider to, analyze and track data, determine the popularity of certain content, deliver targeted advertising and better understand your online activity.
  15. Timo Services may enable social sharing features for common social networks to let users share information with your friends or the public, depending on the settings you establish with the network that provides the social sharing feature.
  16. Timo may validate your Security Codes before granting you access to Timo Services.
  17. Other rights under the National Laws and Regulations.
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V. Timo’s responsibilities

  1. Timo shall endeavour to ensure that all information pertaining to your Account is presented as accurate as possible. Notwithstanding this, you acknowledge that Timo does not warrant the accuracy of the information. Should you have reason to believe that the information is inaccurate, therefore, Timo shall have the responsibility to provide you with your account information upon request.
  2. Timo shall automatically convert incoming foreign currency transfers into Vietnam Dong using the conversion rate for the day of settlement. You hereby authorise Timo to make such conversion.
  3. Timo takes reasonable measures to help protect all confidential information about you from loss, theft, misuse and unauthorised access, disclosure, alteration and destruction. Additionally, Timo implements policies designed to protect the confidentiality and security of your non-public personal information.  Timo limits access to your non-public personal information to employees that have a business reason to know such information, and implements security practices and procedures designed to protect the confidentiality and security of such information and prohibit unlawful disclosure of such information in accordance with its policies. Timo shall only disclose your information upon authorised and lawful requests.
  4. Other than the cases stated in these Terms and Conditions or permitted by National Laws and Regulations, Timo shall not sell, disclose or leak your information without your consent.
  5. Timo protects your information safely in a high security data centre, adhering to stringent security controls, measures and protocols to safeguard the privacy of your information. While Timo shall use its best efforts to ensure that the privacy of all information is kept secure, please note that it is an accepted fact that no data transmission conducted over the Internet and/or through other electronic channels can be guaranteed to be wholly secure.  As such, please ensure that your information is not accessible or disclosed to anyone.  Further thereto, Timo shall neither be held responsible nor liable for any damages or losses which you may suffer, whether directly or indirectly, as a result of the said information being stolen, tampered with, copied, abused, misused or otherwise violated.
  6. Timo shall respond promptly to your complaints and inquiries related to Timo Services, and endeavour to resolve promptly.
  7. Other responsibilities under National Laws and Regulations.
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VI. Termination

  1. You may terminate the Contract with Timo and request to close all your accounts by calling Timo Care or visiting Timo Hangout (details of which are to be found on Timo’s website). Upon withdrawing all your funds and closing your account, you hereby agree to provide Timo with the local bank account details where remaining interest should be deposited.
  2. Timo may suspend/terminate your access to Timo Products and Services or any part of Timo Products and Services in, but not limited to, the below reasons:
  3. You violate any terms in the Contract; or these Terms and Conditions; and/or any National Laws and Regulations;
  4. Any restriction or prohibition on the use of Timo Products and Services by any laws or regulations of any country from where you access Timo Products and Services;
  5. Suspicion of fraudulent use of Timo Products and Services;
  6. Evidences of money laundering activities; or
  7. Other events not under control of Timo, for example, Force Majeure.
  8. In the event of service termination, any transaction instructed before the termination may remain valid and bound to these Terms and Conditions.
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VII. Legal Clauses

  1. The contents of Timo Apps, including the logo, text, graphics, software, multi-media content, and UI/UX, is protected under both the Vietnamese laws and foreign laws. Unauthorised use of our content may violate copyright, trademark and other laws.  You have no rights to use this content except as permitted by this agreement without prior written consent from us.  The trademarks, service marks and logos used in the Timo Apps are registered marks. Nothing should be construed as granting, by implication, or otherwise, any license or right to use these marks without our prior written permission specific for each such use.
  2. You shall be responsible and liable for any unauthorised transaction that is processed using your Security Codes.
  3. You commit not to make any claim, complaint against, or hold Timo responsible in any way for its act of collecting, using, disclosing your information in accordance with this Terms and Conditions.
  4. You shall be responsible and liable for any loss or damage caused by disclosure, thief, or compromise of your Security Codes under any circumstances, unless caused by Timo.
  5. You shall be responsible to inform Timo of any breach or violation of National Laws and Regulations in the use of Timo Services. Timo will not be held liable for any loss, damage or expense suffered by you or anyone else for instructions given by you to Timo that do not comply with National Laws and Regulations.
  6. Timo shall not be responsible or liable, without any limit, for any of your losses or damages suffered by any transactions that breach or fail to comply with any of these Terms and Conditions or any relevant procedures set by Timo; or for your inability to perform any of the transactions due to limits set by Timo from time to time; or reasons beyond Timo’s control including but not limited to the Force Majeure.
  7. These Terms and Conditions shall be governed by and construed in accordance with the laws of Vietnam and Foreign Account Tax Compliance Act (FATCA), guidelines from authorities, cross-governmental treaties or relevant cross-governmental cooperative agreement.
  8. These Terms and Conditions shall be made in English and Vietnamese. If there is any discrepancy between English version and Vietnamese version, Vietnamese version shall prevail.
  9. Timo shall be entitled to change, amend and/or supplement these Terms and Conditions by way of updating the Terms and Conditions posted on the Timo website. By continuing to use Timo Services after the date of such updates, you thereby give your consent to such changes.
  10. If any provision which is determined to be illegal, invalid, prohibited or unenforceable in any respect under any law, such provision shall be ineffective to the extent of such illegality, invalidity, prohibition or unenforceability without invalidating in any manner whatsoever the remaining provisions in these Terms and Conditions.
  11. If parties fail to resolve disputes through negotiation and conciliation, the parties may submit the dispute to the competent court in Vietnam.
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VIII. Definitions

The following terms and expressions shall have the meanings assigned to them unless the context otherwise requires:

  1. “Timo Services” are the products and services provided to you through Timo, including but not limiting to account service, payment, financial management… using an internet-enabled device, and other non-digital services which are offered from time to time.
  2. “Account” means any banking account which you have or may have linked to Timo at any time and from time to time.
  3. “Member” or “you” means the person who is registered with Timo.
  4. “Registration” means the enrolment to Timo Services which enables you to access your bank accounts through Internet or mobile with the Security Codes defined and verified by you during the registration process.
  5. “Contract” means your Member Application Form (Contract of Opening and Using Account/Debit Card/Digital Banking), the Timo Membership Agreement, the Timo Terms and Conditions for Current Account/Debit Card/Digital Banking, the Terms and Conditions for additional product/service that you may apply for from time to time and the Timo Member Fee Schedule.
  6. “Security Codes” means the security credentials used to identify you when you access and utilise Timo comprising of the Username, Password, One Time Password, Quick Code and includes any other security codes Timo may issue from time to time.
  7. “Timo Spend Account” means Timo current account, opened on VPBank’s system via the initialization request through Timo App, and issued together and linked with a Timo debit card.
  8. “Timo Goal Save” means Timo non-term savings account, opened on VPBank’s system via the initialization request through Timo App, and based on the basis that Member has successfully created a Timo Spend Account.
  9. “Timo Term Deposit” means Timo savings account with term, opened on VPBank’s system via the initialization request through Timo App.
  10. “Username” means a name selected or created by you comprising of alphanumeric characters during the registration of Timo. It is required by Timo to validate your Security Codes before granting you access to Timo Services.
  11. “Password” means a list of alphanumeric characters created by you during registration for Timo Services. It is required by Timo to validate your Security Codes before granting you access to Timo Services.
  12. “OTP” means One Time Password, which is a security feature implemented to provide a second layer of protection for online and mobile banking transactions in addition to the Username and Password. It is a unique 6-digit code that needs to be entered for specific online transactions including but not limited to connection creation between accounts, payment registration to a third party, change of the transaction limit in a day, change of the account information related to personal data of you.
  13. “Quick Code” is 4-digit code set by you that needs to be entered for quick access to the Timo mobile application or for specific online transactions.
  14. “Website” is the official website of Timo Services that can be found at getplus.vn.
  15. “App” is the web or mobile application which provides access to Timo Services for Timo Members.
  16. “Redeem” means the closure of Member’s term deposit and transfer of available balance on this account to Member’s Spend account.
  17. “Redeem date” means the last day of term deposit tenor. If it falls on a non-existent day, the redeem date is determined as the last day of the month the deposit matures.
  18. “Force Majeure” means an event which occurs objectively and unpredictably and cannot be overcome though all necessary measures have been applied and all the permitted capabilities have been used, including but not limited to fire, earthquake, landslide, flood, epidemic, natural catastrophe accident, riots, civil disturbance, industrial disputes, act of public enemy, embargo, war, act of God or any failure or disruption to telecommunications, electricity, water, fuel supply.
  19. “FATCA” is the United States Foreign Account Tax Compliance Act.
  20. “National Laws and Regulations” are the laws and regulations of Vietnam.

A reference to a singular includes a plural and a plural includes a singular. Where a word or expression is given a particular meaning other parts of speech and grammatical forms of that word or expression have corresponding meanings.

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