1.“VPBank/The Bank/Bank”: refers to Vietnam Prosperity Joint Stock Commercial Bank. VPBank covers its Branches and Transaction Offices.
2. “Service”: refers to the Timo Life credit card, an international unsecured credit card (hereinafter referred to as “Credit card”/ “Timo Life credit card”). The credit card has only the primary card without supplementary card.
3.“Timo channel/Timo”: refers to the digital banking channel of VPBank which the Timo member are enabled to perform banking transactions after they are identified, current account is opened and digital banking is registered as prescribed.
4.“Client/Timo Member/Member/Cardholder”: refers to a Personal Member of Timo whose information are specified at the CREDIT CARD APPLICATION CUM CONTRACT FORM
5.“Timo Application”/ “Application”: refers to Timo software programs that allow users to perform banking transactions provided by VPBank on the web browser or smart mobile devices.
6. “Application/ CREDIT CARD APPLICATION CUM CONTRACT FORM”: refers to the CREDIT CARD APPLICATION CUM CONTRACT FORM (For Personal Member of Timo) that the Client has signed and/or confirmed to open and use the Timo Life credit card issued by VPBank.
7.“Merchant”: refers to the institution and individual accepting payment for goods and services by Card under the Card Payment Contract signed with the Acquirer.
8.“ATM (Automated Teller Machine)”: refers to equipment that the Cardholder may use to transfer, deposit, withdraw, make payment for goods and service invoices, change PIN inquiry information on Card transaction or other services.
9. “POS (Card acceptance device at point of sale)”: refers to a card reader or terminal installed and used at the Merchants which the Cardholder may use the card to make payment for goods and services. POS can be installed at the branch and the transaction office of Acquirer to provide the cash for the Cardholder as agreed between Acquirer and Card Issuer.
10. “mPOS”: refers to a card reader or terminal installed and used at the Merchants which the Cardholder can use the card to make payment for goods and services.
11. “PIN”: refers to a security code initially issued by VPBank and then changed by Cardholder to use in the card transactions in accordance with the determined process.
12. “Minimum payment”: refers to the minimum amount to be paid by the Cardholder to VPBank after each Statement period. This minimum amount is complied with VPBank’s regulations from time to time.
13.“Due date”: refers to the final day of payment period which the outstanding principal, related interest and fees incurred during the statement period must be paid to VPBank, provided that the payment shall be, at least, equal to the Minimum Payment described in the Bank Statement. In the event that the due date is fallen on the non-business day/public holiday as prescribed by the laws and/or VPBank, the due date shall be the next Business Day.
14.“Business Day”: refers to VPBank’s actual working time from 8:00 to 17:00 from Mondays to Fridays and 8:00 – 12:00 on Saturdays, except for Sundays, public holidays as stipulated by VPBank and any days when VPBank is allowed or required to close as prescribed by the State competent authority or due to Force Majeure events.
15.“Credit Limit”: refers to maximum outstanding debt that the Cardholder may use during a Statement period.
16.“Credit term”: refers to the period which the Credit Limit is effective.
17.“Statement period”: refers to the interval between two consecutive statement dates.
18.“Statement date”: refers to the date specified by VPBank from time to time.
19.“Statement”: refers to a detailed list of transactions initiated by the Cardholder in the statement period. The statement, including expenditures, payments to goods, services, cash advance, interest and fee, is periodically delivered to the Cardholder after the statement date by VPBank.
20.“Installment payment”: refers to total amount of installment for each spending transaction (onsite or online payment for goods and services), cash withdrawal successfully registered by the Cardholder in the Timo Life credit card installment program.
21.“CVV/CVC”: refers to security code printed on the Card.
22.“MOTO”: refers to the method of card payment provided by the International Card Institution whereby payment may be made by calling or emailing to the Merchant.
23.“Contract”: refers to the Contract for credit card Issuance and Use, including the Application, Acceptance of VPBank and these General Terms and Conditions.
24.“FATCA (Foreign Account Tax Compliance Act)”: refers to the Act ratified on 18/3/2010 by U.S Government that generally requires that foreign financial institutions report on the foreign assets held by their U.S. account holders or be subject to withholding tax with respect to any payment of US source income and proceeds from the sale of equity or debt instruments of US issuers. On 1st April 2016, the Joint-Governmental Agreement between the US Government of and Vietnamese Government on compliance with FATCA (IGA Agreement) was signed and took into effect since 7th July 2016.
25.“These General Terms & Conditions”: refers to the General Terms and Conditions for issuance and use of Timo Life credit card. The General Terms and Conditions (T&C) include stable terms released and generally applied to personal clients to issue and use Timo Life credit card at VPBank and publicly posted at the head office and/or on the website of Timo. If the Application is signed, the Client shall be deemed to accept these General T&C.
26.“Timo Care”: refers to the call center of Timo (by telephone number 18006788 or other number reported by Timo from time to time) to support the customer care and services as per request of the Cardholder.
Other capitalized terms uncovered herein shall be construed and interpreted in accordance with provisions in the Application, Services involved by the Client on basis of compliance with the relevant legal regulations.