Article 2. Rights and obligations of the Cardholder

1.    Rights of the Cardholder

a)    To use the Card to withdraw cash, make online payment for goods and services at the Merchants, on the interenet and/or to use other services offered by VPBank (if any) within the Card’s Credit Limit and Credit Term granted for consumable purposes of the Cardholder. The scope of Card is detailed at Article 5 herein. The transactions may be initiated within the Credit Limit till the final day of the granted Credit Term.

b)    To submit the reconciliation request and make complaints about Card-based transactions as stipulated by these T&C and the laws.

c)    To take back the full unused amount available at the Card set forth at Article 11 herein.

d)    To request VPBank to reissue the Card/PIN, suspend/terminate use of the Card, extend the Card, change the Credit Limit, change daily spending limit, deactivate/activate the online payment feature as prescribed by VPBank.

e)     To request VPBank close/unlock/temporarily lock to use the Card in accordance with VPBank’s regulations.

f)     To request VPBank to automatically debit the Cardholder’s current account opened at VPBank as registered by the Cardholder to pay for the outstanding balance on the Statement and fees as prescribed by VPBank.

g)     To receive the monthly Statement from VPBank.

h)     To participate in incentive programs offered to the Cardholder by VPBank and/or its partners if the conditions prescribed by VPBank and/or its partners from time to time are satisfied.

i)     To request VPBank to provide information on card transaction history, available limit of the Card and other card use-related information in accordance with Article 11 herein.

j)     To use the Card within the limit, including Credit Limit, payment limit, cash withdrawal limit and other limits during the Card is used in accordance with Article 5 herein.

k)    Other rights in accordance with the regulations of these General Terms and conditions, VPBank and the laws.

2.     Obligations of the Cardholder

a)     To fully and accurately provide, update and inform VPBank about changes in registration information upon Card application or during the Card is used. In the event that no notice is released by the Cardholder, if any risks or losses are arisen, the Cardholder shall take all responsibilities for errors, benefits or frauds during service use at his fault or caused by absence of true, complete, correct and timely information; take all risks, including arisen financial losses and costs due to the provided incorrect or inconsistent information.

b)     To secure the Card and keep confidential the Card related information, especially PIN during the Card is used in accordance with these General Terms and Conditions and the legal regulations. The Card is not transferrable.

c)     To register to receive the Card/PIN by post/express delivery. In this case, the Cardholder agrees and certifies that VPBank is deemed to successfully complete delivery of the Card/PIN to the Cardholder when the Card/PIN are sent to the address registered with VPBank. The Cardholder is also committed to all incurred risks because the Card/PIN is lost or taken advantage and/or risks caused by the Cardholder fails to directly sign or a forged signature is made to receive the Card/PIN in this manner.

d)     To accept and use the Card within the Credit Limit and Credit term granted by VPBank. In the event that the Cardholder uses excessive limit or VPBank can prove the transaction beyond the Credit Limit arisen from the concerned Card, then the Cardholder shall pay for arisen transactions in addition to the payable costs and otherwise (if any) as prescribed by VPBank when the Card’s issued limit is exceeded.

e)     To make payment to VPBank for all incurred card transactions (including transactions with or without signatures, PIN or with signature different from the one of the Cardholder at the Card’s reverse side) in accordance with the regulations on the Scope of Use and Payment Obligations of the Cardholder specified in Article 5 herein.

f)     Not to use the Card for any unlawful transactions for purposes of money laundering, terrorism financing, fraud, forgery and other actions. Be responsible to VPBank and the law for acts of money laundering, terrorism financing, fraud, forgery committed by the Cardholder and card transaction involving money laundering, terrorism financing, fraud, forgery and other actions.

g)    To be fully aware of and committed to risks where the Cardholder’s payment transactions are confiscated, sealed or suspended by any foreign organization or country (due to involving in factors of embargo, crime, terrorism, terrorism financing, money laundering, subjects applicable to court orders, overseas offices or other reasons).

h)   To make full and timely payment to VPBank for outstanding balance on the Statement released and delivered to the Cardholder by VPBank. Where the Cardholder fails to receive the Statement delivered by VPBank, full and timely payment of payable accounts must be still made to VPBank during the period.

i)      On a monthly basis, within the period from the statement date to the due date, the current account designated by the Cardholder shall be automatically debited to pay for the balance on the Statement as per pro-rata registered with VPBank. The Cardholder shall ensure this account always has the required balance for VPBank to debit during the abovementioned period. Otherwise, the Cardholder shall contact VPBank to pay for the rest and bear costs and interest incurred if any.

j)     To timely notify VPBank when errors or mistakes are found on his/her card account or the card account is found to be taken advantage of.

k)    To resolve Card-related disputes with the Merchant/paying bank/Card Institution without delaying the payment of statement on due date.

l)     To immediately and unconditionally refund to VPBank excessive amounts withdrawn by the Cardholder, withdrawal/payment beyond the Credit Limit, transactions incorrectly credited to the Cardholder’s account and other mistaken transactions which the Cardholder fails to prove his/her legal ownership. To allow VPBank to automatically debit these amounts without notice to the Cardholder (current account, Card Account, savings deposit account, term deposit account and other accounts) and deductions for other deposited assets at VPBank.

m)   To set signature specimen with a ball pen on the signature strip on the Card’s reverse side upon receipt of the Card. Upon performing transactions at the Merchant, the Cardholder shall sign payment receipts/vouchers with the same signatures as this signature specimen, except for transactions where signatures of the Cardholder are not required

n)     Not to use the Card declared to be lost or misplaced and return VPBank the concerned Card upon finding. 

o)    To make full and timely payment to VPBank for Card used-related principal, interest and fees, etc.

p)    The Cardholder assumes liability for fund use by issuing the Card with right purpose as prescribed herein and takes responsibility the laws and VPBank for its fund use.

q)    Where the Cardholder buys insurance products sold by VPBank as an insurance agent, VPBank is allowed to debit the Cardholder’s account to pay for premium payable to the insurer. This amount shall be treated as outstanding balance of the respective statement period.

r)     By signing the Application, the Cardholder agrees that the Cardholder’s request on registering any Services or Programs launched by VPBank in the manner of the Cardholder’s registration and participation via calling Timo Care, Timo Application, or any other electronic method implemented by VPBank shall be complied with VPBank’s regulations on Phone Banking, e-banking services via phone or internet, other e-banking services as specified in the General Terms and Conditions/General Terms and Conditions on e-banking services and/or relevant regulations applied for services and programs that are involved by the Cardholder.

s)     To activate the Card by the method deployed by VPBank as of card activation date. To comply with the terms and conditions specified herein and regulations on card issuance and use approved by VPBank, card institutions/associations and the laws. The Cardholder agrees that when the Timo Life credit card is requested to be activated, the Cardholder simultaneously activates the e-commerce payment function. The Cardholder thoroughly understands and accepts the Card use-related risks in e-commerce transactions and commits not to make any complains or claims against VPBank in case of incurred risks.

t)      To provide VPBank with all necessary information and documents at proper request of VPBank in order to comply with regulations on anti-money laundering, anti-terrorism financing, sanctions and embargoes.

u)     The Client commits all funds used to discharge Client’s contractual financial obligations are formed from legal sources and free from any violations to any applicable laws (including the provisions on money laundering and terrorism financing).

v)     Other obligations in accordance with the regulations of the T&C, VPBank, the laws and domestic/international Card Institutions that VPBank is a member from time to time