Article 1. Interpretation of terms

  1. Customer/Timo Customer: Any individual customer belonging to Timo Channel whose deposit at VPBank with information stated in the Term Deposit Agreement.
  2. VPBank: Vietnam Prosperity Joint-Stock Commercial Bank with detailed information in the Term Deposit Agreement. VPBank shall be understood to include all Branches/Transaction Offices of Vietnam Prosperity Joint Stock Commercial Bank.
  3. Timo Channel: VPBank’s Digital Banking channel that allows Timo customers to conduct banking transactions after identifying, opening Spend account and registering e-banking services in accordance with the regulations.
  4. Term Deposit Agreement: The Term Deposit Agreement that is established between VPBank and the Customer depositing via Timo Application, which covers agreements between VPBank and the Customer relating to the sending and receiving of Customer’s Deposit via Timo application.
  5.  General conditions of term deposit by electronic means via Timo Application (hereinafter referred to as “General conditions”): Stable terms that are published by VPBank from time to time for all individual customers who engage in term deposits by electronic means via Timo Application. The general conditions are provided by VPBank to the Customer for reading, researching and confirming his or her consent when making any deposit via Timo Application. The general conditions are at the same time publicly announced by Timo Channel in accordance with the provisions of the law.
  6. Timo term deposit (hereinafter referred to as “Timo term deposit”/“Deposit”/“Timo deposit”): The amount of money that is deposited by the Customer at VPBank via Timo Application as recorded in the Term Deposit Agreement.
  7. Electronic Means: Means that operate based on technology in electricity, electronics, digital, magnetic, wireless transmission, optics, electromagnetic or similar technology. At VPBank, the digital include but are not limited to: Timo channel, VPBank Online; VPBankTimo Plus; VPBank Dream; ATM; CDM.
  8. Due date: The closing date of the Deposit duration as specified in the Term Deposit Agreement. In case the Due date of the Deposit coincides with the weekend or public holidays according to VPBank’s regulations, the Deposit shall be due on that day.
  9. Customer verification document: Documents that can identify the characteristics and identity of the Customer. These documents are determined according to VPBank’s regulations from time to time.
  10. Spend Account/Timo Spend Account: The account that is used by the Customer to send and receive the term deposits. Details of the Customer’s Payment account are specified in the Term Deposit Agreement.
  11. Timo Application/Application: Timo software program that allows users to perform financial transactions provided by VPBank on smartphones or Internet browsers.
  12. Digital banking service agreement: The Agreement between VPBank and the Customer on VPBank’s provision and use of e-banking services. The Digital banking service agreement made includes paper, digital banking service registration data of the Customer and Terms and Conditions/General transaction terms of digital banking service published on http website: // and from time to time.