1.   The Cardholder is entitled to request information provision on Card Account balance, card transaction history and other necessary information related to the Card use. For such purpose, the Cardholder may request on the Timo Application, go to Timo channel transaction outlets or call Timo Care. The Cardholder is obliged to comply with the regulations, requirements and pay fees (if any), etc., in accordance with VPBank’s regulations when information request is submitted. Upon receipt of the valid request from the Cardholder, Timo will provide information to the Cardholder in accordance with the provisions of law. The information will be provided in the manner agreed by VPBank and the Cardholder when the request is submitted by the Cardholder as prescribed by the laws. The Cardholder agrees that VPBank can provide a variety of ways of providing information to the Cardholder (in writing, via phone, via email, SMS…), phone, email and SMS messages can have potential risks in the event of disclosed personal information, account or Card of the Cardholder. The Cardholder hereby confirms and is fully aware of these risks and undertakes to bear all risks (if any).

2.   In all cases, the Cardholder’s money will be managed in the Card Account so that VPBank may collect debts and other financial obligations from the Cardholder. The unused money on the Cardholder’s Card after being deducted to fulfill the Cardholder’s financial obligations at VPBank (if any) will be refunded to the Cardholder upon closing the Card as prescribed by VPBank.

1.     In order to ensure the safety and confidentiality during the Card use, the Cardholder shall:

a)     Keep the Card confidential, secure PIN, other Cardholder identification codes, card information, transaction information, and not to disclose the card information, etc.

b)     Not allow other people to use the Card, transfer the Card to others, make pledge/mortgage of the Card to any institutions or individuals.

c)     Comply with the confidentiality instructions and procedures provided by VPBank and/or related institutions (Card Payment Institution, Card Switching Institution, the Merchants, etc.) when the card transactions are initiated by the Cardholder. Depending on each transaction or service performed by the Cardholder, the Cardholder may be requested to use one or a number of security elements, corresponding to his/her authentication method, including but not limited to information on card number, password, user name, OTP, security question, security code, phone number, and email that the Client has registered with VPBank. The Cardholder assumes liability for keeping the aforesaid security elements confidential and takes reasonable measures to prevent the unauthorized use of such security elements. The Cardholder is liable for damages caused by disclosed, stolen, abused security elements, etc., in accordance with Clause 3 of this Article.

d)     The Car holder is responsible for maintaining the electronic equipment used to connect to the VPBank system and perform Card transactions (computer, telephone, etc.). The Cardholder is required to log out the system, transaction screen when leaving the equipment that the Cardholder has made a transaction.

e)     Timely notify and coordinate with VPBank to handle the Card security and confidentiality-related matters during the Card is used. Protect the safety of the Cardholder’s assets and transactions, the Cardholder requests VPBank to take appropriate measures such as locking or temporarily locking the Card, refusing card transactions when the Cardholder’s security elements are checked and responded to be incorrect by the system upon some certain access times.

f)     Comply with other obligations and responsibilities as prescribed by the law on keeping safe and confidential during the use of Card.

2.     To maintain the Card safety and confidentiality, VPBank shall:

a)     Take measures to ensure safety and prevent risks for Card transactions according to the principles and provisions of the laws.

b)     Keep confidential information related to Card activities; ensure the infrastructure and techniques for managing the Card issuance and payment safely and smoothly.

c)     Set up and maintain 24/7 call center to promptly receive and handle information from the Cardholder.

d)     Comply with other obligations and responsibilities as prescribed by the laws on keeping safe and confidential during the Card issuance and payment.

3.     Where the card is stolen, lost or the PIN is disclosed, the Cardholder shall promptly notify to Timo Care or directly notify at the VPBank transaction offices and confirm by written notice to Timo right after. Where the Card is taken advantage due to a theft, displacement, PIN disclosure, and other frauds/forgeries before a legally valid written notice or message on VPBank’s handling the card loss notice is released by VPBank, the Cardholder shall bear all losses for all card transactions caused by the concerned Card. The Card is locked in the system right after VPBank receives the notice from the Cardholder and completes the handling within 05 business days for the Card with BIN issued by SBV or 10 business days for the Card with BIN issued by the International Card Institution since the notice is received from the Cardholder as prescribed in this Clause.

1.     Method of receiving reconciliation requests and complaints from the Cardholder

a)     When reconciliation and complain on card transactions are arisen, the Cardholder can go to the transaction outlets of Timo channel or call Timo Care or via other means applied to Timo channel and notified the Cardholder from time to time. If the Cardholder requests to reconcile and complain through Timo Care, as necessary, VPBank shall request the Cardholder to submit the request (in the form accepted by VPBank) for the specified term by the Bank as the official basis to handle the request for tracer and complaint. The Cardholder shall comply with the VPBank regulations, requirements and procedures when conducting reconciliation and complaints in accordance with the law. In the event that other persons are authorized to request the reconciliation and complaint, the authorization regulations of VPBank and the laws shall be complied.

b)     In case VPBank is notified about any suspicion of fraud or losses, in order to timely limit any losses, the Cardholder agrees to allow VPBank to consider locking card. In that case, the Cardholder shall be notified and be liable for all incurred financial losses due to the Card use upon the Card lockout.

2.     Term of handling reconciliation and complaints

Depending on each type of card (Card with BIN issued by SBV, by the International Card Institution) and each type of Card transaction performed by the Cardholder (card transaction within the VPBank, Interbanking transaction, payment transaction, cash withdrawal at ATM, etc.), VPBank will resolve and respond to the Cardholder’s request on reconciliation and complaint within the term, corresponding to the nature of each transaction on the basis of compliance with the time for handling reconciliation and  complaint by the laws.

3.      Handling the results of reconciliation and complaints

The handling of the Cardholder’s reconciliation and complaint results will be implemented by VPBank within the time limit prescribed by the laws and the following principles shall be complied:

a)     In case of losses incurred and causes identified not due to the Cardholder’s fault and/or not under Force Majeure as specified in the Contract, the Cardholder shall be reimbursed within 05 business days since the reconciliation and complaint results are notified to the Cardholder. In case of incurred losses at fault of related parties (Acquirer, Card Switching Institution, International Card Institution, the Merchants, etc.), VPBank shall be reimbursed by the defaulting party as agreed by the Parties in accordance with the legal regulations.

b)     In case of any losses incurred and causes identified due to the Cardholder’s fault: VPBank is not obliged to compensate damages incurred by the Cardholder.

c)     If the time limit for handling the reconciliation and complaint is reached as agreed in the Contract without any determined reason or fault of any Party, within the next 15 business days, the solution or agreement on the temporary compensation for damage incurred by the Cardholder shall be agreed by VPBank and the Cardholder until the final conclusion released by the competent authority clearly determine the fault and responsibility of the parties.

d)    In event of criminal signs, VPBank shall notify the State competent authorities in accordance with the legal regulations on criminal procedures and report to the State Bank (the Payment Department, branches of SBV at provinces and cities in the area); and give a written notice to the Cardholder on the status of the handling of tracer and complaint. The handling of reconciliation and complaints shall be covered by the State competent authorities. In case the State competent authorities announce the result without criminal signs, within 15 business days since the conclusion is released by the State competent authorities, a common agreement on handling the reconciliation and complaint results shall be reached by VPBank and the Cardholder.

e)     In case VPBank, Cardholder and related parties cannot reach an agreement and/or disagree with the process of tracer, complaint, the settlement of the dispute shall be conducted in accordance with the legal regulations.

1.     Force majeure refers to an event which is objective, unpredictable and uncorrectable though all necessary measures have been taken and all possible capabilities are used.

2.     The Parties agree that one of the following circumstances shall be considered a Force Majeure Event

a)     War or natural disacter or changes in the State policies and laws;

b)     Decisions and requests of the State competent authorities, international card institution, international organizations and foreign organizations participating in anti-money laundering and fraud prevention, sanctions, embargoes and anti-terrorist financing, etc.;

c)     Problems on transmission line, electricity, network, equipment, viruses, technical errors, etc., are happened suddenly, beyond the proper control of VPBank or arising out of interruption in the provision of services from suppliers, third parties that provide services to VPBank.

d)     The events that all necessary measures have been taken by VPBank in accordance with the law but cannot be uncorrectable;

e)     Other cases as prescribed by the laws.

3.     When a force majeure event occurs, VPBank shall, to the permitted extent, notify the Cardholder, apply all measures to mitigate, correct the problem and provide services to the Cardholder in a continuous manner. Notwithstanding the provisions of this Clause, one of the Parties/Parties affected by a Force Majeure event resulting in the failure to perform its obligations under this Contract shall neither be considered a breach of its obligations under the Contract or the basis for the other party to request compensation, fines and other rights under the terms of the Contract.

During the credit card is used, the Cardholder can apply for the Installment Plan for Timo Life credit card transaction at VPBank (“Plan”), where VPBank and Cardholder determine and agree that the amount of interest payable plus the installment payment principal will be equally divided by the number of months that the Cardholder registers to make installment payment. When the Cardholder participates in the Installment Plan for credit card transactions, the Cardholder agrees to comply and is fully bound by the whole contents of the following terms and conditions:

1.     Conditions of the Plan:

a)     In order to participate in the Installment Plan for credit card transactions, the Cardholder must meet VPBank’s required conditions as of registration date and during the Installment Plan.

b)     VPBank reserves the right to refuse application to participate in the Installment Plan for credit card transactions when Cardholder fails to meet VPBank’s conditions and terminate the provision of the Installment Plan when the Plan conditions are no longer satisfied by the Cardholder.

2.     Contents of the Plan:

a)     Amount of initial installment payment:

–    For spending transaction: The amount that Cardholder uses Timo Life credit card to purchase goods and/or use services at the merchants or online transactions. The Cardholder registers full installment payment (the entire spending transaction), but for partial installment payment.

–    For cash withdrawal transaction: The amount that the Cardholder withdraws from the Card Credit Limit, excluding the fee and interest arising out of the transaction. The Cardholder registers full installment payment (the entire cash withdrawal transaction), but for partial installment payment

b)    Installment term: For each transaction of the Plan, the Cardholder is entitled to register 3-month, 6-month, 12-month installment terms or other period as stipulated by VPBank from time to time, provided that this period shall not exceed the remaining validity of the Card.

      In the Installment Term, the Cardholder is not allowed to close the Credit Card unless the Installment is fully paid or in case the Cardholder is required to close the credit card by the laws or approval on Card closing is obtained from VPBank.

c)     Installment interest rate, monthly installment amount, pre-mature payment fee and other fees:

i)   Installment interest rate:

–  Depending on each cooperation program with partners and/or other criteria, the installment interest rate for payment transactions of goods and services and the cash withdrawal transactions are regulated by VPBank and announced from time to time on Timo official website and Timo Application. The installment interest rate for each installment amount registered by the Cardholder is fixed during the Installment Term for such amount.

–  The installment interest rate for cash withdrawal transactions is calculated when VPBank approves the successful registration of installment payment by the Client and gives a notice to confirm that the installment payment has been successfully registered by the Cardholder as prescribed herein. Since the cash withdrawal transaction is successfully completed (by message or email or other methods from time to time for the Cardholder to successfully withdraw the cash from the Card) until before the Client is approved to successfully register the installment, the cash withdrawal transaction will still be charged with interest and fees in accordance with VPBank’s regulations on cash withdrawal transaction from time to time.

ii)   Interest calculation method: The installment interest is calculated by the following formula: Installment interest by (=) Amount of registered transaction multiplied with (×) Interest rate multiplied with (×) Installment Term.


      Amount of registered transaction: The amount that the Cardholder registers the installment for each spending, payment, and cash withdrawal transaction.

      Interest rate: Calculated by %/ month by the method of “calculating the first day, leaving the last day of the interest period”.

      Installment Term: The term that the Cardholder registers the installment payment to the transaction.

iii)  The installment interest rate described in Point i) of this Item shall be applied to calculate the interest in accordance with the interest calculation method as prescribed in Point ii) of this Item. In order to clarify, the interest rate of the corresponding year in accordance with the interest calculation method as stipulated in Clause 1, Article 5, Circular No. 14/2017/TT-NHNN dated 29/9/2017 on defining the interest calculation method on depositing and credit extension transaction between credit institution and Client, calculated and announced by VPBank corresponding to each installment interest rate and publicly available on Timo’s official website.

iv)   Monthly installment amount

Monthly installment amount = (Initial registered amount + (Interest rate x Installment Term x Initial registered amount)/ Installment Term

v)      Pre-mature payment fee for installment amount and other fees, if any: complied with VPBank regulations from time to time.

d)     Repayment of monthly installment amount:

i)    Payment date: The monthly installment amount is recorded on the Statement along with the regular spending transactions in the statement period. The monthly installment amount is a part of the Minimum Payment amount that the Cardholder must pay for such Statement. The date of installment payment is the Minimum payment date as prescribed in the Credit Card Statement.

ii)   Debt collection order: When the Minimum payment is made by the Cardholder, VPBank system will collect the following debts: installment payment for cash withdrawal transactions, installment payment for payment transactions of goods and services, cash withdrawal transactions, normal payment transactions of goods and services. This order can be changed according to the provisions of VPBank from time to time

iii)  Where the Cardholder fails to pay all monthly installment amounts:

–  In the event that the Cardholder fails to make or partially make the monthly installment payment on final due date of the Statement Period, the remaining of such installment in  such statement period will be categorized as overdue debts and incurred with the following fees and interest:

–  Overdue interest rate for overdue principal: equal to the applicable interest rate for regular transactions using Timo Life credit card (Transactions are not subject to the Installment Plan);

–  Fee for delayed interest payment: equal to the applicable interest rate to transactions not involving in the Installment payment transactions calculated on basis of the balance of delayed interest corresponding to the delayed payment time

–  Other fees as prescribed by the Contract.

iv)  The principal, interest, and overdue interest, delayed payment fees will be shown in the next statement periods until full payment is made by the Cardholder.

v)   The installment amounts in next months are still paid under registered payment schedule.

e)     Pre-mature settlement by the Cardholder:

i)  The Cardholder makes settlement of installment payments on the Timo Application under the detailed instructions on the Application screen

ii) The Cardholder can only make pre-mature repayment of the whole amount of the installment payments. In this case, the Cardholder is responsible for paying all outstanding principal and interest of the installment payment on the Statement, but not yet paid up (if any) and the outstanding principal without Statement together with the pre-mature repayment fee (settlement) as prescribed by VPBank from time to time.

iii) The pre-mature installment payments must be transaction qualified with pre-mature settlement in accordance with VPBank’s regulations from time to time.

iv) After the Cardholder has settled the successful/unsuccessful installment payments at VPBank, a phone message or notice by other forms may be delivered to the Cardholder as agreed in the Contract to confirm the successfully/unsuccessful settlement by Timo channel.

f)      Termination of the Plan application

i)  VPBank reserves the right to cancel or terminate the Installation Plan by notifying the Cardholder and requesting the Cardholder to immediately pay all outstanding balance of the Installment in the following circumstances:

      The Cardholder violates the payment obligations of installment payments or breaches of obligations under the Agreement

      The Cardholder no longer meet conditions as stipulated at Item a) Clause 1 of this Article.

      The Cardholder’s credit card is closed, locked, temporarily locked, cancelled, etc.

      Other cases VPBank deems to be necessary.

ii)  Upon the Plan termination, the entire remaining balance of the Installment (including interest and fees (if any) of the remaining periods) shall be immediately due, payable and automatically debited to the Cardholder’s Credit Card Account. Such payment of credit card is implemented in accordance with VPBank regulations. The Cardholder may have to pay fees and expenses related to the Plan termination determined by VPBank as the case may be.

3.      Method of Installation Plan subscription:

a)     The Client can apply for installment payment for successfully spending transactions, cash withdrawal transactions using Timo Life credit card under the method as specified in Item b, Clause 3.

b)     After successful transaction, the Client subscribes the Installment Plan with VPBank via Timo Application by the following methods:

–     The Cardholder should log in Timo Application, initialize the Application to subscribe installment payment for Timo Life credit card transaction, accept the General Terms and Conditions of Installment Plan for use of Timo credit card as instructed on the Application screen and the process of subscribing and handling installment payments for Timo Life credit card transaction on the Timo Application from time to time;

–     After the conditions for the Plan engagement are successfully satisfied by the Client and agreed by VPBank, the Cardholder shall comply with all terms and conditions of the Plan as prescribed herein and other relevant regulations of VPBank;

–     Once the Cardholder successfully registers via the Timo Application, Timo will send a notification on Application and email or by others according to the provisions of these General conditions to the Cardholder to confirm the successful registration by the Cardholder and/or an email stating the terms and conditions of the Plan.

4.     Other provisions of the Plan:

a)     VPBank is exempted from responsibility for force majeure events during the Plan that causes the Cardholder’s transactions to be wrong from leading to the unsuccessful registration of installment payment by the Cardholder.

b)     In case of any changes related to the Plan, VPBank Timo will notify the Cardholder via email or SMS or notice on Timo’s website or others according to VPBank’s regulations from time to time

c)     At VPBank’s discretion, VPBank reserves the right to refuse the Cardholder’s request to participate in the Installment Plan.

The Client acknowledges that (i) the Client has been notified by VPBank about the Terms and Conditions on Compliance with FATCA for Individuals on the VPBank website (www.vpbank.com.vn and www.getplus.vn) (“FATCA Terms and Conditions”); (ii) thoroughly read, understood and committed to fully comply with the provisions of this FATCA; (iii) agreed that VPBank reserves the right to change (amend, add or replace) the contents of the FATCA Terms and Conditions from time to time at sole discretion of VPBank without prior notice or the Client’s consent.

1.   The Client agrees to receive information, products, services, programs, incentives from VPBank and/or its partner. The Client shall be informed about any issues related to the Services as well as other VPBank’s products and services, including any amendments, supplements and adjustments to VPBank’s policy to the service, program, incentives, etc. of VPBank and/or VPBank’s partner by one of contact methods applied by the Timo channel from time to time with unlimited quantity and time, covering the method of sending a written notice to the Client address, calling, sending SMS to the Client’s phone, sending email, listing at the service outlet of Timo channel or notice on the Timo website and other methods as defined by the laws. For the contents that the Cardholder is informed in writing as prescribed by the Contract, relevant documents or regulations of the laws, the Parties agree that the text may be made by the Timo channel and sent by printout or by SMS, email, etc., to the Cardholder in accordance with this Clause.

2.   Parties agree that the Client’s address, phone number and email as mentioned at Clause 1 above are the address, phone number and email registered by the Client in the Application. The Client is deemed to receive the notice from Timo channel when Timo channel gives a notice by the methods above to the Client’s address, phone number and email or posted at Timo channel outlets or on Timo website, VPBank is not responsible for confirming if Cardholder received such notice.

In case of any changes on address, phone number and email, the Client shall notify to Timo channel in writing or by changing personal information on Timo application; unless Timo is entitled to notify to the old address, phone number and email and the Client is deemed to receive the notice when Timo notifies to this address, phone number and email and contents of these notices are bound to the Client.

3.   Where the Client wishes to receive the Contract for the issuance and use of the credit card, Customer can request through Timo Care to be provided or receive the Contract in other ways as Timo channel deploys each period.

4.   Any notices, requests from the Client shall be sent to VPBank by one of the following methods: via Application, nearest transaction point of Timo channel or via Timo Care as stipulated by VPBank from time to time. Depending on transaction requested by the Client, upon receiving the Client’s notice via the methods above, VPBank may request the Client to complete relevant procedures in accordance with the laws.

1.   These General Terms and Conditions are governed by the applicable laws of the Socialist Republic of Vietnam.

2.   If any term or condition in these General Terms and Conditions or any part or provision herein is declared invalid or unenforceable by the State competent agency, validity of other terms and conditions, parts and items of these General Terms and Conditions shall not be affected.

3.   Contents uncovered by these General Terms and Conditions shall be subject to regulations on products and services of VPBank and the relevant laws.

4.   Any disputes arising out of or in connection with this Contract shall be solved through negotiation, conciliation and mutual respect. Where conciliation does not work or the Parties do not want a conciliation, such dispute shall be put forward to the People’s Court with jurisdiction in Vietnam for final settlement. The Parties agree that the address as stated at the Application for registration is the address used so that the Court may define authority to resolve disputes as stipulated by the laws. In case the Client changes address without giving a written notice to VPBank, the Client is deemed to hide address, avoid obligation and VPBank is entitled to request the Court to handle the case under the normal procedures

1.   The regulations herein are valid and enforceable since the date mentioned at the first section herein. Since the effective date of these General Terms and Conditions, the terms and conditions are applied to all Timo channel Personal Cardholders who are issued and covered with Timo Life credit card (including clients issued with Timo Life Credit card, previously).

2.   By signing the Application, the Client confirms that VPBank has provided all information about method of interest calculation, applicable interest rate, principles and factors to determine the adjusted interest rate (in case VPBank applies the adjusted interest rate) in accordance with the laws before this Application is signed.

3.   The Client confirms to have read, understood and strictly adhered to Terms and Conditions of Service in these General Terms and Conditions, other Service regulations of VPBank and the applicable laws of Vietnam.