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Using Timo Spend Account/Debit Card/Digital Banking

I. Interpretation

Explain words

  1. “VPBank/VPBank Timo/Bank”: means Vietnam Prosperity Joint Stock Commercial Bank. VPBank is
    included Branches, Transaction offices of Vietnam Prosperity Joint Stock Commercial Bank.
    2.“VPBank Timo/Timo”: means a digital banking channel of VPBank enabling Clients to perform banking
    transactions on Timo application after being identified, having payment account opened and debit card
    issued in accordance with regulations.
    Products and services provided by VPBank Timo to the Clients are implemented through technical
    cooperation between VPBank and Global Online Financial Solutions Company Ltd (“GOFS”) and/or other
    organizations appointed by GOFS. Timo’s products and services are done through Internet-connected
    devices and other offline services provided to the Member from time to time.
    3. “Service”: means some account services registered by the Member and approved to be provided by Timo,
    including services of Spend account, Debit card provided by Timo from time to time.
    4. “Member”: means an individual whose information are specified at the Application for Member
    registration and opening Spend account and Debit card.
    5. “CAU”: means organization, individual accepting payment for goods and services, supplying services of
    deposit, withdrawal in cash by Card.
    6. “CDM/ATM”: means equipment that the Cardholder may use to send, deposit, withdraw in cash, and
    make remittance, inquiry information on Card transaction or other services.
    7. “POS”: means card payment equipment installed at CAUs.
    8. “CVV/CVC”: means security code printed on Card.
    9. “NAPAS”: means National Payment Corporation of Vietnam
    10. “Application for Registration”: means Application for Member registration and opening Spend account
    and Debit cardsigned by Member.
    11. “Timo Application”: means software programs used on the web or smart mobile devices provided by
    Timo to the Member for the performance of financial transactions at.
    12. “Transaction point”: means a branch, transaction office and other business units deployed by VPBank
    Timo (Timo Hangout) serving meeting and performance of Members’ transactions.
    13. “Law”: means national and foreign laws, instructions by the management agencies, intergovernmental
    agreements or intergovernmental cooperation arrangements.
    14. “Force majeure”: means an event which is objective, unpredictable and uncorrectable though all
    necessary measures have been taken and all possible capabilities used, including but not limited to fires,
    earthquakes, landslides, floods, epidemics, natural disasters, riots, civil disturbances, labor disputes, hostile
    actions, embargoes, wars, Acts of God or any failure or interruption in telecommunications, supply of
    electricity, water and fuel, etc.
    15. Other capitalized terms not interpreted in the Terms & Conditions shall be understood and interpreted in
    accordance with provisions in the Application for Registration, products, services involved by Member on
    basis of compliance with the relevant legal regulations.
/by Hieu TOS
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Using Timo Spend Account/Debit Card/Digital Banking

II. Terms and Conditions on opening and using Spend account

Article 1. Rights and obligations of the Members

  1. Rights of the Member
  • To use the amount in the Member’s account to make payment orders in legal and eligible manner.
    To use payment means, services and utilities provided by VPBank Timo under request, capacity and legal
    regulations.
  • To use the Spend account to make a deposit, withdrawal in cash and request VPBank Timo to carry out
    incurred payment orders in legal, eligible way in scope of credit balance and overdraft limit (if permitted).
  • To request VPBank Timo to provide information on payment transactions and balance of the spend
    account.
  • To request VPBank Timo to close, temporary lock or change the manner to use the account where required in accordance with the laws and relevant regulations.
  • To give a notice to VPBank Timo on any disputes in regard of the common spend account among common account users (if any).
  • To participate in the incentive programs for Member opening the spend account as stipulated by VPBank
    Timo.
  • To entitle to interest rate for the amount at the Spend account under the interest rate regulated by VPBank Timo in accordance with the Account’s features, balance and regulations on interest rate management by the State Bank from time to time.
  • Other rights under provisions of the Terms & Conditions, and of law.
  1. Obligations of the Member
  • To monitor the account balance by Timo application.
  • To make timely notice to VPBank Timo upon detecting errors or mistakes on his/her account or the account being taken advantage of. Any notices, claims, tracer request in regard of the Account and transactions shall be made by the Member within 07 (seven) days from the date of card transaction incurred. After this period, if the Member fails to notify to VPBank Timo, the Member shall assume liabilities, damages and accept any possible consequences.
  • To refund or cooperate with VPBank Timo to refund amounts wrongly credited to the account of the Card
    holder.
  • To fully, clearly and accurately provide and update and inform VPBank Timo of changes in registration information upon request use of the Service or during use of the Service. In case of no notice from the Member, if any risks or losses arise, the Member shall bear all responsibilities for errors, benefits or frauds during use of services due to his own fault or absence of true, complete, correct and timely information changes; committed to all risks including financial losses and costs incurred due to wrong or inconsistent information provided.
  • To be fully aware of and committed to risks where payment, remittance transactions by the Member are
    confiscated, sealed or suspended by any foreign organization or country (for involving factors of embargo,
    crime, terrorism, financing of terrorism, money laundering, subjects applicable to court orders, overseas offices or other reasons).
  • To register the sample signature to be used on documents for transaction performed with VPBank Timo as signature on the Application for Registration.
  • To make full and timely payment to VPBank of fees incurred from the opening and use of the account,
    account management, issuance of debit card, services as stipulated by VPBank Timo from time to time and
    in accordance with the laws. The fee schedule is published by VPBank Timo on the official website and/or
    at Transaction points of VPBank Timo.
  • To ensure the account always to have the balance needed to perform payment orders. In case of overdraft
    agreement with VPBank Timo, the Member shall perform relevant obligations when paying over the credit balance of the account.
  • To keep the minimum balance on the spend account as prescribed by VPBank Timo.
  • To be responsible to VPBank Timo and the law for acts of frauds, forgery of the Card by the Card holder and card transactions involving fraud and forgery.
  • To observe VPBank Timo’s instructions on making payment orders and using payment means, making payment transaction through account; using, moving, storing transaction documents; to guarantee safety measures on payment as stipulated by VPBank Timo.
  • Not to lease, lend the account or use the account to perform payment transactions for amounts proved as
    illegal origin.
  • Not to use the spend account to perform transactions for purpose of money laundering, financing of
    terrorism, frauds or other legal violations.
  • To comply with provisions of the Terms & Conditions and other legal regulations in regard of opening and using the Spend account.
  • Other obligations under provisions of the Terms & Conditions, and of law.
  1. Request and confirmation of the Member
  • The Member requests VPBank Timo to carry out buying and selling the foreign currency with the Member
    when having any foreign currency amounts remitted to VPBank Timo and details of beneficiary account as
    the Member’s Spend account by Vietnam dong opened at VPBank, the Member agrees to sell such amount to VPBank Timo with the following specific contents:
    i) The Buyer: Vietnam Prosperity Joint Stock Commercial Bank – including Branches/ Transaction
    offices/Business units deployed by VPBank Timo.
    ii) The Seller: Member
    iii) Date of transaction, payment: mean the date when the Seller has foreign currency amounts remitted to
    VPBank Timo.
    iv) Type of transaction: immediate delivery.
    v) Currency of transaction: VND/Foreign currency
    vi) Foreign currency amount: means the foreign currency amount remitted to VPBank as recognized on
    each Remittance order.
    vii) Exchange rate: as published by VPBank Timo at the date of payment.
    viii) Recipient account by VND: the Member’s Spend account by Vietnam dong opened at VPBank.
  • VPBank Timo is deemed to agree the arrangement on foreign currency transaction in case of crediting by
    VND to the Member’s account.

Article 2. Rights and obligations of VPBank Timo

  1. Rights of VPBank Timo
  • To be exempt from liabilities in case processing system or communication system failing or for any reason beyond the control of VPBank Timo makes the account of the Member unable to perform transactions, causes losses, theft, advantages or in other cases of fault of the Member.
  • To be exempt from liabilities for: (i) any proper or improper use of the Member’ account purpose (ii) Any acts of fraud or forgery caused to VPBank Timo due to violation acts or faults of the Member (iii) Any harm to credit, image and reputation of the Account user related to request by VPBank Timo the Account user to stop/suspend due to violation acts or faults of the Member.
  • To bear no responsibility for delivery, quality of goods and services paid by account (if any).
  • To refuse performance of the Member’s payment orders in case (i) the Member fails to fulfill requirements on payment procedures; invalid payment order, not in accordance with the registered details or agreements between VPBank Timo and the Member; (ii) the Member has not balance enough at the account to ensure performance of payment orders or exceed overdraft limit to pay in case of overdraft arrangement with VPBank Timo; (iii) when having request in writing from the competent State authorities or evidence on payment transaction for purpose of money laundering, financing of terrorism as stipulated by the law on prevention of money laundering; (iv) the Spend account is being suspended, freezed in whole or a part in which the part of suspension, freezing has no balance enough.
  • Where detecting the Member violates existing regulations or the Terms & Conditions, or there are signs of law violation, VPBank Timo may not fulfill request to use payment services by the Member, retain exhibits and advise competent agencies for review and handling.
  • To use details and credits of the Card holder, including all information from documents provided by the Member; contracts and documents signed between the Member and VPBank Timo to provide to agencies with function to provide credit information services and/or credit rating legally operating in Vietnam, or provide to competent agencies requesting information in accordance with the law.
  • To provide competent parties with details of the transaction account for the purpose of tracer and complaint of card transactions in accordance with the law.
  • To have right to temporarily lock, close the spend account in case: (i) the Member requests and fulfills all obligations in regard of spend account; (ii) the Member passes away, misses or lose civil behavior capacity; (iii) VPBank Timo suspects that there are mistakes, errors in performing transactions related to the Account;  (iv) when having disputes on the Account; (v) the Member violates regulations in connection with the policies on Account maintenance, management of VPBank Timo; (vi) the Member violates regulations on opening and using the Spend account set forth at the Terms & Conditions; (vii) For purpose of guarantee of payment obligations, debts, other financial obligations of the Member with VPBank; (viii) other cases as stipulated by the laws and published on the official website and/or transaction points of VPBank Timo.
  • To be entitled to freeze a part or the whole for the amount at the spend account if: (i) there is a written request from the competent authority as stipulated by the law, (ii) VPBank Timo detects any mistakes, errors to credit to the Member’s Account or at the request on refunding from the institution supplying remittance payment services; (iii) VPBank Timo finds out any frauds, legal violations related to the Account; (iv) other cases as regulated by the law.
  • To automatically extract (debit) the Member’s account in the following cases: (i) payment of due and overdue debts, interest, and other valid costs incurred during account management and payment service supply as previously agreed with the Member under the law; (ii) according to the written request from the competent State authorities in enforcement of decision on administrative violation penalty, execution, tax payment or other payment obligations as stipulated by the law; (iii) adjustment for items being wrongly accounted or not suitable for the use content of the spend account as prescribed by the law and giving notice to the Member; (iv) VPBank Timo detects any mistakes, errors to credit to the Member’s Account or at the request on cancelling credit remittance order from the institution supplying remittance payment services since that institution finds out mistake against the remitter’s payment order; (v) payment of regular, periodic amounts as agreed between the account user and institution supplying remittance payment services; (vi) Compensation of obligations of the Member at VPBank Timo and to handle other cases as agreed between the Member and VPBank Timo.
  • To make notice on changes for Services, promotional programs, make warning of risks upon performing Services and other notices serving the use of Services to the Member in the manner deemed fit by VPBank Timo (including but not limited to sending messages, email, documents, notices via website, at transactions points and communication media).
  • To request the Member to supply relevant information when using the payment service as regulated.
  • To ask the Member to make compensation for actual damages arising out of the Member’s violations on the use of the Account under this agreement, VPBank Timo’s regulations and the law.
  • To request the Member to pay penalties due to the Member’s violations on the use of the Account under the Terms & Conditions and the law.
  • To refuse the request on freezing, closing the Member’s account or fail to freeze the common spend account as stipulated by the law when the Member fails to complete the payment obligations under the enforcement regulation by the competent State authorities or has unpaid debts to VPBank Timo.
  • To specify the minimum balance on the spend account and give public notice, specific instructions to the Member.
  • To regulate and apply the safety, security measures during the process of opening and using the Spend account in accordance with the laws.
  • Other rights under provisions of the Terms & Conditions, and of law.
  1. Obligations VPBank Timo
  • To respect rights and benefits of the Member under the Terms & Conditions.
  • To make timely, fully payment orders after checking, controlling legality, validity of the payment orders.
  • To keep details of the Member’s Account, not to disclose the Member’s details to the third party without the Member’s approval unless the competent State authorities request and/or specified at the Terms & Conditions.
  • Other obligations under provisions of the law.

 

Article 3. Handling in case the Member’s Account has no regular transactions

  1. On basis of the Account’s operation frequency, VPBank Timo will divide the Member’s Account status into: Active, Sleeping, Inactive or other status as stipulated by VPBank Timo from time to time. Conditions, forms and matters related to the Member’s Account status under VPBank Timo’s regulations are published on the official website and/or at the transaction points of VPBank Timo from time to time.
  2. VPBank Timo is entitled to collect fees to manage, maintain the Member’s Account under the fee schedule and principle on fee collection as stipulated by VPBank Timo from time to time. The fee schedule is published on the official website and/or at the transaction points of VPBank Timo from time to time.
  3. VPBank Timo is entitled to close the Member’s Account when it fails to meet conditions under the regulations on the status management of the Member’s Spend account as regulated and published on the official website and/or at the transaction points of VPBank Timo from time to time.
  4. VPBank Timo has obligation to notify to the Member when changing the account’s status, closing the Member’s Account set forth this Article. At the VPBank Timo’s decision at the time of notice, VPBank Timo may give notice to the Member via one or some forms as follows: public notice on the official website and/or at the transaction points of VPBank Timo and/or by email and/or message to address, phone number registered with VPBank Timo and/or other forms registered by the Member and accepted by VPBank Timo from time to time and in accordance with the law.
/by Hieu TOS
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Using Timo Spend Account/Debit Card/Digital Banking

III. Terms and Conditions on using Debit card

Article 1. Rights and obligations of the Card holder

  1. Rights of the Card holder
  • To use the Card to deposit, withdraw in cash and pay for purchase of goods and services within the balance scope of the card account /Spend account/overdraft limit (if any) on the Spend account at VPBank Timo and the use of Card as stipulated at Clause 3 of this Article.
  • To use the Card within the limit including payment limit, transfer limit, cash withdrawal limit, other limits during the use of Card as stipulated by VPBank Timo published on the official website and/or at the transaction points of VPBank Timo from time to time.
  • To request VPBank Timo to reissue the PIN, Card, suspend or terminate use of the Card, and change the limit as prescribed by VPBank Timo.
  • To entitle to incentives for the Card holder of VPBank Timo and/or partners of VPBank Timo from time to time.
  • To request VPBank Timo tracer and make complaints about use of the Card. Cases of tracer, methods, documents, and time to submit tracer requests and related issues shall comply with regulations of the law and of VPBank Timo published on the official website and/or at the transaction points of VPBank Timo from time to time.
  • To be supplied information on card transaction history and card account balance, limit related to the use of Card and other necessary information as stipulated by VPBank Timo.
  • To receive the deposit balance on the Spend account attached to the Card as prescribed by the law.
  • To request VPBank Timo close/open/freeze/suspend the use of Card in accordance with regulations of VPBank Timo.
  • To participate in incentive programs for Card holder by VPBank Timo in each period.
  • Other rights under provisions of the law.
  1. Obligations of the Card holder
  • To directly receive the Card/PIN or request VPBank Timo to send the Card/PIN by post/express. The Card holder agrees and certifies that VPBank Timo is deemed to have finished delivery of the Card and PIN to the Card holder when the Card and PIN have been delivered to the address registered with VPBank Timo by the Card holder. The Card holder commits to assume any liabilities for risks arising out of receipt of the Card, PIN by this method unless otherwise caused by the fault of VPBank Timo.
  • To keep the Card and keep confidential Card related information, especially the PIN. The Card is not transferrable.
  • To make payment to VPBank Timo for all card transactions incurred (including transactions with or without signatures, PIN or with signature different from the one of the Card holder at the back of the Card) if VPBank Timo gives evidence that the Card is used to perform transactions in accordance with the regulations on Scope of use of the Card at Clause 3 of this Article.
  • Not to use the Card for any unlawful transactions or purposes. Be responsible to VPBank Timo and the law for acts of frauds, forgery of the Card by the Card holder and card transactions involving fraud and forgery.
  • The Member as the main Card holder shall open the payment deposit account at VPBank Timo.
  • To immediately and unconditionally refund to VPBank Timo excess amounts withdrawn by the Card holder, withdrawal/payment beyond the balance of Spend account, transactions wrongly credited to the account of the Card holder and other mistaken transactions to which the Card holder fails to prove his/her legal ownership. To agree to allow VPBank Timo automatically debit these amounts without notice to the Card holder.
  • Where the card is stolen, lost or the PIN is disclosed, the Card holder shall immediately notify to VPBank Timo via the Timo Care as regulated by VPBank Timo from time to time or directly notify at the transactions points of VPBank Timo. Where the Card is taken advantage of due to a theft, displacement, PIN disclosure, and other frauds/forgeries before VPBank Timo locks the Card on the system, the Card holder shall bear all losses for all card transactions caused by the Card being taken advantage of. The Card is locked on the system right after occurring the following cases: (i) the Member locked the Card on Timo application; (ii) VPBank performs to lock the Card on the system upon receiving the Member’s call via Timo Care to request to lock the Card (recorded call); (iii) VPBank performs to lock the Card on the system upon receiving the Member’s written request. The notice on locking Card will be directly sent by VPBank to the Member corresponding to the method that the Member requests to lock the Card (via Timo application/call/at transactions point).
  • To register the sample signature in ball-point pen at the signature box at the back of the Card upon receiving it. When performing transaction at CAU, the Card holder shall sign on invoices/documents by this sample signature unless the transaction is not needed the Card holder’s signature.
  • Not to use the Card declared as lost or misplaced and return VPBank Timo the Card declared as lost or misplaced upon finding.
  • To make full and timely payment to VPBank Timo of fees incurred from the use of the Card.
  • To comply with provisions of the Terms & Conditions, relevant provisions of VPBank Timo and of domestic/international Card Institutions and of the law in regard of issuance and use of the Card.
  • Other obligations under provisions of the law.
  1. Scope of use of the Card and payment obligations of the Card holder:
  • Card holder may use the Card to withdraw cash at CDMs/ATMs/POSs of VPBank and ATMs/POSs in the coalition of NAPAS, and at CDMs/ATMs/POSs with the symbol of an international card institution (for international cards); to pay for goods and services at CAUs, via Internet, email, telephone, etc. and use other services provided by VPBank Timo and other banks directly or indirectly associated with VPBank Timo through one or more intermediary organizations.
  • The Card holder agrees that upon card payment transactions, depending on each card transaction and requirements/provisions by VPBank Timo and/or by the international card institution and/or by the CAU in accordance with the regulations of the law and international card institution, card transactions may be authenticated using methods including but not limited to:
    – The Card and Card holder present at the CAU; and/or
    – Signature of the Card holder on the invoice of card transaction; or
    – Entering the PIN upon transaction; or
    – Card details (Card name/Card number/CVV/CVC codes, etc.) provided via email, telephone, internet, etc.; or
    – Any other authentication method registered with VPBank Timo by the Card holder; or
    – Any other authentication method specified by VPBank Timo, international card institutions and CAUs.
  • The Card holder is fully aware and understand that when the Card holder performs card payment transactions for which the Card and/or Card holder is not present in person at CAU (eg. online transaction, etc.) and when the Card holder does not keep confidential card details, Card of the Card holder may be taken advantage of for payment transactions which do not require in-person presence of the Card and/or Card holder at the CAU. By signing this contract, the Card holder fully acknowledges and accepts those risks.
  • The Card holder assumes liability for paying to VPBank Timo for all transactions incurred and authenticated by any method mentioned in point (a) above. The Card holder agrees that the account statement sent by VPBank Timo will be the evidence confirming transactions, costs, interest (if any) and debits and credits in the account statement are true and valid and the Card holder shall make payment of all transactions, costs and interest shown on the account statement in accordance with the deadline in the account statement.

Article 2. Rights and obligations of the VPBank Timo

  1. Rights of VPBank Timo
  • To terminate use of the Card by the Card holder by cancelling or withdrawing the Card if the Card holder violates conditions and terms of use of the Card under the Terms & Conditions, uses the forged Card or Card suspected forged.
  • To be exempt from liabilities when the Card is taken advantage of withdrawing cash, paying goods, sservices and performing other transactions in case the Card is missed/stolen/defrauded and/or forged except for the fault of VPBank Timo.
  • To bear no responsibility for delivery, quality of goods and services paid by card. To be entitled to debit on the card account the value of goods and services whether or not goods and services have been delivered or carried out.
  • To be held harmless in case complaints and tracer requests of the Card holder are not handled by the paying bank/domestic/international card institutions under their provisions, except for the fault of VPBank Timo.
  • To change the limit of use of the Card in accordance with the policies of VPBank Timo from time to time.
  • Other rights under provisions of the Terms & Conditions, and of law.
  1. Obligations of VPBank Timo
  • To respect rights and benefits of the Member under the Terms & Conditions.
  • To make timely, fully payment orders after checking, controlling legality, validity of the payment orders.
  • To keep details of the Member’s Card, not to collect, use, transfer the Member’s details to the third party without the Member’s approval unless the competent State authorities request and/or specified at the Terms & Conditions.
  • To make compensation for actual damages arising out of the VPBank Timo’s violations to the regulations on supplying service of debit card as stipulated by this agreement and the law.
  • Other obligations under provisions of the law.

Article 3. Fee schedule

  1. During the use of the Card, the Card holder assumes liability for paying to VPBank Timo any fees as stipulated by VPBank Timo in accordance with the laws, including but not limited:
    • Fee in regard of opening, using, managing Account/Card as stipulated by VPBank Timo from time to time.
    • Card issuance: means fee that the Card holder shall pay for registration of Card issuance, including: the first issuance fee, reissuance fee.
    • Statement issuance: means fee that the Card holder shall pay to request VPBank Timo to issue the statement for transaction(s).
    • Tracer fee: means fee that the Card holder shall pay in case the Card holder has incorrect or wrong tracer request on performed card transactions.
    • Fee of changing card status: means fee that the Card holder shall pay to request to open/lock the Card.
    • Service fee or administrative fee for any requests, services or utilities provided or performed by VPBank Timo at the request of the Card holder in regard of the Card holder’s card account.
    • Other fees are in accordance with the law and specified at the Fee schedule for card of VPBank Timo.
  2. The Fee schedule for card is specified and published by VPBank Timo on the official website and/or at the transaction points of VPBank Timo from time to time.
  3. In case the Fee schedule for card is changed, VPBank Timo will give a notice to the Card holder by one of methods as stipulated at Article 1, Part III of the Terms & Conditions. Changes on fee become effective to the Card holder upon 07 days since VPBank Timo notifies and the Card holder shall fully pay to VPBank Timo under new Fee schedule.

Article 4. Collection, renewal, reissuance and rejection of Card

  1. VPBank Timo will collect the Card in the following cases:
  • Forged card.
  • Unauthorized card.
  • For purpose of investigation, handling criminals as stipulated by the law.
  • Other cases on Card collection are regulated and published by VPBank Timo on the official website and/or at the transaction points of VPBank Timo from time to time.
  1. The Cardholder may request VPBank Timo to change, reissue the Card and shall pay for fees to change and reissue the Card as prescribed by VPBank Timo.
  2. Fees related to change, renewal, and reissuance of the Card shall be borne by the Card VPBank Timo may debit the card account of the Card holder for related fees as prescribed by VPBank Timo.
  3. Rejection of the Card: The Card shall be rejected when:
  • The Card is listed in Black card list of card institutions.
  • The forged card or in connection with the forged transactions.
  • The balance of the main Card holder’s spend account has no enough to pay.
  • The Card is notified to be lost by the Card holder and VPBank Timo confirmed to receive this notice.
  • The Card holder violates regulations of the Terms & Conditions and regulations of VPBank Timo on the use of the Card published by VPBank Timo on the official website and/or at the transaction points of VPBank Timo from time to time.
  • The Card is related to transactions applied by the embargo, sanction.
  • The Card holder fails to fully pay fees or financial obligations under the Fee schedule and/or regulations published on the official website and/or at the transaction points of VPBank Timo from time to time.
  • The Card holder violates regulations on card payment of Card payment institution and of the State of Vietnam.
  • The Card is not registered or not licensed relevant services.
  • Other cases under regulations of VPBank Timo on the official website and/or at the transaction points of VPBank Timo and of the law.
/by Hieu TOS
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Using Timo Spend Account/Debit Card/Digital Banking

IV. Terms and conditions on using the service of Digital banking

Article 1. The Member using the service of Digital banking

For services provided by VPBank Timo via Timo application (commonly called service of Digital banking), the Member commits as follows:

  1. To provide fully, exactly personal details, papers, signature and other information where required and in accordance with the law when the Member performs requirements related to service of Digital banking.
  2. The transactions of Digital banking may have some certain risks on confidentiality, continuity, problems on transmission line, power, internet, equipment, virus, technical errors, mistakes or frauds and other risks, etc. The Member confirms to have evaluation and full awareness on risks possibly incurred. The Member accepts to perform transactions and agree to exempt from legal liabilities and compensation to VPBank Timo for any risks incurred. The Member acknowledges that at some certain times, the Member may not access, use and perform some or all services provided by VPBank Timo due to system maintenance, problems on transmission line or for some other reasons, including but not limited by Force majeure events, namely fire, flood, earthquake, tsunami, war, riot, etc. or other restrictions by the competent State authorities without giving any claims.
  3. To assume self-liability for use and management, security of user name, password, OTP code and other information related to the use right of service of Digital banking of the Member.
  4. To take unconditional responsibilities for transactions made by user name, password, OTP code provided by VPBank to the Member, for any damages incurred due to disclosure, thief, taking advantage of user name, password, and OTP code for any reasons.
  5. To assume self-liability for information and payment contents of the Member via application. The payment content shall not be against the law, morality, and fine custom. In case of finding out deviations of information, payment or legal violations in using the application, the Member shall give immediate notice to VPBank Timo.VPBank Timo assumes no liabilities for transactions performed prior to receiving the Member’s notice on deviations of information, payment or legal violations.
  6. Not to give any claims, complaints in case VPBank Timo terminates/refuse/suspend the application supply to the Member due to the fault of Member or VPBank Timo unilaterally considers to terminate service supply, including but not limited the following cases: (i) the Member violates regulations set forth at this Contract; provisions, terms, conditions of VPBank Timo and (or) of the law on service use, (ii) under the decision, request of the law or competent authorities, (iii) cases in regard of forgery, risk or fraud, (iv) evidence on suspicion on money laundering of the Member, (v) when having problems due to force majeure events, beyond the control of VPBank Timo.
  7. To perform the Member’s obligations under the regulations on using service of Digital banking of VPBank Timo and of relevant law.
  8. To commit to read, understands and agree with the Fee schedule and current regulations on using service of Digital banking of VPBank Timo, and commits compliance with these regulations and authorizes VPBank Timo automatically extract his/her spend account at VPBank Timo to pay expenses related to use of service of VPBank Timo.
  9. To perform carefully transactions, ensure the transaction made correctly and fully, check all information, data prior to sending order to VPBank Timo. VPBank Timo shall not assume liability for information handled by VPBank Timo from the system.
  10. To perform transactions within specified limit by VPBank Timo and always ensure enough balance at the spend account when VPBank Timo handles remittance transactions. VPBank Timo assumes no liability for transactions not handled since the Member has no balance enough at the spend account or exceeds the limit.
  11. The Member shall immediately notify to VPBank Timo (by calling to VPBank Timo Care or directly at VPBank Timo Hangout) when detecting or suspecting authorized access, disclosure of electronic signature, user name, other forged signs, frauds.
  12. Any orders/transactions performed, recognized and stored on VPBank Timo’s system are deemed to be valid and bound to the Member after VPBank Timo checks reality of orders/transactions via user name, password, OTP code and/or other identifications. Documents, papers, data related to service supply and/or transactions between VPBank Timo and the Member, data recorded, confirmed and stored by VPBank Timo’s system are evidences on transactions of the Member with VPBank Timo and have legal validity. The transaction orders shall be attached to original documents in accordance with the law or of VPBank Timo, the transaction orders shall only become effective and enforceable when VPBank Timo fully receives the attached original documents.
  13. Not to give any claims, complaints in case VPBank Timo terminates service supply to the Member due to the fault incurred by the Member or VPBank Timo unilaterally considers to terminate service supply.
  14. The Member agrees to receive messages/email from VPBank Timo to receive OTP; notice on products, services, promotional programs of VPBank Timo; notice on transactions/value of transactions performed/notice on fluctuation of account balance/deposit, etc. and other notices serving performance of service, transaction to the Member. The Member agrees that VPBank Timo is entitled to regulate the value of transaction/ fluctuation of account balance/deposit, etc. sent message, and email by VPBank Timo to the Member. Value of transaction/ fluctuation of account balance/deposit, etc. are published by VPBank Timo on the official website from time to time.
  15. To carry out the Member’s obligations under the regulations on service use by VPBank Timo and of the relevant law.
  16. When registering the open of account with VPBank Timo, the Member will be activated the service of Digital banking of VPBank Timo on mobile phone and website. The use of VPBank Timo’s account and Digital banking is an integral part and the Member shall not terminate the use of this service without termination of other service. The user and password selected by the Member at the time of opening account are the login details to the service of Digital banking of VPBank Timo. The user shall be kept during the process of service use.
  17. When participating the Digital banking, the Member commits to perform fully procedures on electronic transactions stipulated by VPBank Timo.
  18. The Member agrees that all transactions of Digital banking shall be made on basis of using the Member’s electronic signature. Parties agree that the Member’s electronic signature is identified, authenticated via Timo application of VPBank Timo or other systems designated by VPBank Timo. Any actions for purpose of making, performance of transactions of Digital banking (such as login by user, password; selecting acceptance/continuation on the system; entering OTP code; sending message by syntax from phone number registered with VPBank Timo; calling by phone number registered with VPBank Timo ….) are deemed the Member to use the electronic signature to sign electronic documents with VPBank Timo. Notwithstanding other provisions of the Terms & Conditions, the Member understands and agrees when the Member uses service of Digital banking, any Security elements, upon being confirmed by VPBank Timo’s system to be eligible shall be deemed to be the Member’s electronic signature and show the Member’s agreement, acceptance for the transaction of Digital banking that the Member participates.
  19. The Member’s electronic signature prepared, authenticated under regulations of the Terms & Conditions has legal validity as the Member’s signature on written documents and proves the Member’s agreement, acceptance for the electronic documents signed. The Member is entitled and bound by obligations with VPBank Timo as stipulated by the corresponding electronic documents, provisions of the Terms & Conditions, of VPBank Timo and of the law.
  20. Depending on each service of Digital banking that the Member uses and transactions of Digital banking that the Member participates, the Member confirms and agrees that the method of sending, receiving electronic documents between the Member and VPBank Timo shall be basically performed as follows:
  21. The Member uses the electronic equipment to access to Timo application of VPBank Timo (via login website and/or application software of VPBank Timo; sending message, calling, email to Timo Care of VPBank Timo or using other means, methods to access the portal supplying service of Digital banking of VPBank Timo) so as to initialize transaction, make registration of use or request service supply (Online directive).
  22. Depending on each service, transaction that the Member request, the Digital banking system of VPBank Timo will perform Confirmation manner as stipulated by VPBank Timo to confirm the Member and/or direct or request the Member to carry out actions on transaction confirmation before making transaction to the Member.
  23. The Member shall perform actions under the request, direction to fulfill transaction that the Member requests VPBank Timo to perform.
  24. The Member confirms to agree with delivery and receipt methods of electronic documents as state at this Item and commits binding with all electronic documents, transactions of Digital banking performed by these methods.

Article 2. VPBank Timo supplies the service of Digital banking

When supplying the service of Digital banking, VPBank Timo commits as follows:

  1. To comply with regulations on electronic transactions of the State bank of Vietnam and of the law.
  2. To ensure the time of supplying service via application to the Member 24 (twenty-four) hours per day and 07 (seven) days per week except for cases as state at Clause 10.2 and6 Article 10 of this Agreement.
  3. To keep information in regard of account, transactions of the Member in accordance with the laws; not to sell, disclose, publish the Member’s details unless this supply shall be performed at the request of competent State authorities and of the law.
  4. To perform fully terms and conditions within scope of VPBank Timo’s liabilities set forth at this Agreement.
  5. To receive and handle tracer request, claims from the Member in regard of the service of VPBank Timo.
  6. To commit to recover the system upon having problems as prescribed by the bank from time to time.
  7. To respect rights and benefits of the Member under this Agreement.
  8. To provide fully information on rights and obligations of the Client prior to registration of VPBank Tim’s service.
  9. To guarantee principles on supply of banking service via Internet (confidentiality, availability, integrality, reality of client and transaction, protection for the Member) as stipulated by the State Bank from time to time.
/by Hieu TOS
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Using Timo Spend Account/Debit Card/Digital Banking

V. General provisions

Article 1. Exchange, provision of information and amended, supplemented articles

  1. VPBank Timo shall notify the Member of characteristics and features of the service and amendments, supplementations, adjustment on VPBank Timo’s policies to the Service in one of the contact forms implemented by VPBank Timo from time to time including but not limited to: in writing to the Member’s address, phone call, SMS to the Member’s phone number, email, or the official website of VPBank Timo (website: timo.com.vn).
  2. Parties agree that the Member’s address, phone number and email as mentioned at Clause 1 above are the address, phone number and email registered by the Member in the Application for registration. The Member is deemed to receive the notice from VPBank Timo when VPBank Timo gives a notice by the methods above to the Member’s address, phone number and email. In case of any changes on address, phone number and email, the Member shall notify to VPBank Timo in writing or by changing personal information on Timo application; unless VPBank Timo is entitled to notify to the old address, phone number and email and the Member is deemed to receive the notice when VPBank Timo notifies to this address, phone number and email and contents of these notices are bound to the Member.
  3. Unless otherwise regulated by the Terms & Conditions, the Member is deemed to accept the whole contents amended under VPBank Timo’s notice if the Member continues to use Service at VPBank Timo within 01 day since VPBank Timo notifies. If the Member fails to agree with the contents amended, adjusted by VPBank Timo, the Member is entitled to terminate use the the Service prior to the term.
  4. VPBank Timo may use the details on the Member, credits, account balance, transaction information of the Member including all information from documents provided by the Member; contracts and documents signed between the Member and VPBank Timo to provide to agencies with function to provide credit information services and/or credit rating legally operating in Vietnam, or provide to competent agencies requesting information in accordance with the law.
  5. Any notice, requests from the Member shall be sent to VPBank Timo by one of the following methods: In writing, phone number provided by VPBank Timo from time to time or nearest transaction point of VPBank Timo. Depending on transaction requested by the Member, upon receiving the Member’s notice via the methods above, VPBank Timo may request the Member to complete relevant procedures in accordance with the law.

Article 2. Governing law

  1. The Terms & Conditions are governed by the existing law of the Socialist Republic of Vietnam.
  2. If any term or condition in the Terms & Conditions or any part or item of this document is declared invalid or unenforceable by a State competent agency, that term or condition shall not invalidate other terms and conditions, parts and items of the Terms & Conditions.
  3. Issues not defined in the Terms & Conditions shall be subject to provisions on products, services of VPBank Timo published and of relevant law..
  4. In case of any disputes arising out of or in connection with this Contract shall be solved through negotiation, conciliation and respect together. Where conciliation does not work or the Parties do not want a conciliation, the Parties may bring the dispute to a competent court in Vietnam for resolution. 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 law. In case the Member changes address without giving a written notice to VPBank Timo or personal details on Timo application, the Member is deemed to hide address, avoid obligation and VPBank Timo is entitled to request the Court to handle the case under the normal procedures.

Article 3. Language

The Terms & Conditions shall be made in Vietnamese.

Article 4. Effectiveness

  1. The provisions of the Terms & Conditions become effective since the Application for registration is accepted by VPBank Timo and signed, sealed by the authorized representative of VPBank Timo at the contents for VPBank Timo until the Member fulfills rights and obligations under the Application for registration, the Terms & Conditions and relevant documents, regulations of the law.
  2. The Member confirms to have read, understood and are committed to Terms and Conditions for Service in this Agreement, other regulations of VPBank Timo in regard of Service and of existing law of Vietnam.
/by Hieu TOS
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