Money Booster Quest – Retirement (“Campaign”)
From 3 July 2024 to 31 December 2024
Terms & Conditions
Money Booster Quest – Retirement (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) subject to the terms and conditions herein (“Terms and Conditions”).
NB:
– The Campaign here is one of the four campaigns under Versa’s new feature called Versa Quest. The campaign rewards under these campaigns are stackable. For further information on the other three campaigns, please visit [*].
– From 28 August 2024, “Money Booster Quest – Retirement’ will be renamed to ‘Retirement Booster Quest”.
– [LIMITED TIME] Versa Users can earn an extra 2% p.a. in Versa Cash or Versa Cash-i (in addition to the prevailing base nett return of Versa Cash or Versa Cash-i) by setting up or maintaining an auto debit plan into any PRS fund between 28 August 2024, 00:01hr (Malaysian time) and end on 27 September 2024, 15:00hr (Malaysian time), with successful auto debit transacted by 7 October 2024. This offer is one-time only and won’t apply to auto debit transactions after 7 October 2024.
1. Eligibility:
1.1 This Campaign is open to all new or existing Versa application users holding a Malaysian citizenship and aged eighteen (18) and above as at the commencement of the Campaign Period (as defined below) (“Users” or individually “User”), subject to the Terms and Conditions herein.
1.2 To participate in this Campaign, Users must own a duly verified and approved Versa account, with a minimum balance of RM1,000.00 in their respective Versa Cash or Versa Cash-i account, to be maintained throughout the Campaign Period (as defined below).
1.3 In the event that a User is found or suspected to have committed any fraudulent, unlawful, prejudicial and/or wrongful acts in relation to this Campaign or to the financial product(s) by Versa, or has breached any of the Terms and Conditions herein, or is subject to any bankruptcy proceedings, or has been declared bankrupt, at any point of time prior, during or after the Campaign Period (as defined below), Versa has the right at its sole and absolute discretion to disqualify the said User and/or to immediately cancel, withdraw or recall any rewards or returns awarded to the User pursuant to this Campaign. Users hereby agree and undertake to fully indemnify Versa for the value and costs of such units & incentives, damages and/or losses (if any) arising therefrom. Versa shall have the right to initiate any action it deems necessary against Users.
2. Campaign Period and Details:
2.1 The Campaign will commence on 3 July 2024, 00:01hr (Malaysian time) and end on 31 December 2024, 23:59hr (Malaysian time) (“Campaign Period”).
2.1.1 For a limited time, users will enjoy Campaign Reward tiering at Clause 4.1(c), from 28 August 2024, 00:01hr (Malaysian time) and end on 27 September 2024, 15:00hr (Malaysian time) (“Campaign Period”).
2.2 Versa reserves its absolute right and discretion to vary or amend the Campaign Period at any time in accordance with Clause 5.5(d) below.
3. Campaign Mechanics and Conditions
3.1 To be eligible for the Campaign Rewards (as defined below):
a) User must own a verified and approved Versa account with a minimum balance of RM1,000.00 in their respective Versa Cash or Versa Cash-i Fund which shall be maintained throughout the Campaign Period;
b) User must, within the Campaign Period, have an active and valid auto debit plan(s) set up to enable auto debit monthly transaction(s) of a cumulative minimum of RM250.00 into any PRS via Versa fund(s) (as set forth below); and
c) The User’s auto debit transaction(s) pursuant to his/her auto debit plan(s) above is successfully invested on the 5th day of every month (“Auto Debit Transaction Date”) into the intended PRS via Versa fund(s). If the 5th day of the month falls on a weekend or public holiday, then the Auto Debit Transaction Date will fall on the next available business day.
(PRS via Versa refers to PRS Conservative, PRS Moderate, PRS Growth, PRS Conservative-i, PRS Moderate-i and PRS Growth-i)
3.2 For the avoidance of doubt, Users may set up multiple auto debit plans for one or more PRS via Versa funds. However, Users must ensure that the total cumulative auto debit transaction(s) pursuant to their auto debit plans achieves the minimum requirement of RM250.00.
3.3 Users are advised to set up the auto debit plan by the cut off time of every month as specified in the Table 1 below to enable the auto debit transaction(s) to take place on the Auto Debit Transaction Date, i.e. the 5th day of the immediate subsequent month (or the next business day if it falls on a weekend or public holiday). Where the auto debit plan is set up after the cut off time of every month, the auto debit transaction(s) will only occur on the following Auto Debit Transaction Date, i.e. the 5th day of the third month from the auto debit setting up month.
| User’s Auto Debit Plan Set Up Date | Auto Debit Transaction Cut Off Time | Auto Debit Transaction Date |
| 27 June 2024 – 25 July 2024 | 26 July 2024, 3pm | 5 August 2024 |
| 26 July 2024 – 27 August 2024 | 28 August 2024, 3pm | 5 September 2024 |
| 28 August 2024 – 26 September 2024 | 27 September 2024, 3pm | 7 October 2024(5 October 2024 and 6 October 2024 are weekend) |
| 27 September 2024 – 24 October 2024 | 25 October 2024, 3pm | 5 November 2024 |
| 25 October 2024 – 26 November 2024 | 27 November 2024, 3pm | 5 December 2024 |
“Table 1”
3.4 Users will be eligible for the rewards for the month(s) in which the auto debit transaction(s) is successfully processed, completed and invested into the intended PRS via Versa Fund(s). In which the rewards will be credited to the users in the following month.
4. Campaign Rewards:
4.1 All eligible Users who successfully fulfill the Campaign Mechanics and Conditions stated in Clause 3 above will enjoy the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return of Versa Cash or Versa Cash-i (as the case may be) of the particular month (collectively referred to as the “Campaign Reward”) during the Campaign Period, in the following manner:
a) Where a User sets up auto debit plan(s) for a cumulative total amount of RM250.00 and above, the nett return will be based on the User’s first available balance of RM30,000.00 in his/her Versa Cash or Versa Cash-i.
4.2 From 28 August 2024 – 27 September 2024, users will enjoy an additional booster reward of 1.0% p.a. nett return in addition to the current Campaign Reward and prevailing base nett return of Versa Cash or Versa Cash-i when the user auto sets up an auto debit plan and successfully invest in any PRS funds by 7 October 2024.
a) This offer is one-time only and the Campaign Reward will revert back to 1.0% p.a. nett return in addition to the prevailing base nett return of Versa Cash or Versa Cash-i (as the case may be) after andy successful transaction after 7 October 2024.
4.2 For the avoidance of doubt, where a User has both Versa Cash and Versa Cash-i fund, the Campaign Reward will only be applicable to the User’s Versa Cash fund or Versa Cash-i fund, whichever with the higher available balance as at the last day of the eligible month during the Campaign Period. Where both the User’s Versa Cash and Versa Cash-i have the same available balance, Versa Cash will be the default fund to be rewarded.
4.3 The Campaign Reward is limited to the first 50,000 User(s) who are eligible for the Campaign Reward in accordance with the Terms and Conditions on a first-come-first-serve basis. In the event the total Campaign Reward has been fully utilised, User(s) will be eligible for the prevailing Versa Cash or Versa Cash-i promotional rate.
4.4 The Campaign Reward will be credited to the Users’ respective Versa Cash or Versa Cash-i account (as the case may be) in the following month.
4.5 Table 2 below is a calculation illustration of the Campaign Reward:
| Auto Debit Amount | Type of Versa Fund | Prevailing Base Nett Return | Booster Rewards | Oct 2024 Booster Quest: Rewards (28 August – 27 September 2024) | Campaign Reward |
| RM250 and above | Versa Cash (First RM30,000.00) | 4.04% p.a. nett (based on historical performance in July 2024) | 1.0% p.a. nett return | +1.0% p.a. nett return in addition to the prevailing base nett return of Versa Cash or Versa Cash-i and Booster Rewards (Rewards will be credited in November after successful auto debit transaction) | 4.04% p.a. nett + 1.0% p.a. nett + 1.0% p.a. nett= 6.04% p.a. nett |
| OR | |||||
| RM250 and above | Versa Cash-i (First RM30,000.00) | 3.41% p.a. nett (based on historical performance in July 2024) | 1.0% p.a. nett return | +1.0% p.a. nett return in addition to the prevailing base nett return of Versa Cash or Versa Cash-i and Booster Rewards (Rewards will be credited in November after successful auto debit transaction) | 3.41% p.a. nett + 1.0% p.a. nett + 1.0% p.a. nett= 5.41% p.a. nett |
“Table 2”
4.6 Users who make a cash-out from their Versa Cash or Versa Cash-i during the Campaign Period that results in the account balance therein falling below the requisite minimum of RM1,000.00, will be automatically disqualified for the Campaign Reward. Such Users will only enjoy the Campaign Reward up to the date of the cash out request.
4.7 Sample scenarios are illustrated in Table 3 below:
| No | Scenarios | Eligibility |
| 1 | Adam is an existing auto debit user. He previously created an auto debit plan of RM250.00 into his PRS Moderate fund on 20 July 2024. On 5 August 2024, he successfully invested RM250 into his PRS Moderate fund through auto debit.His Versa Cash balance is RM15,000.00 while his Versa Cash-i balance is RM8,500.00. | Adam is eligible for the Campaign Reward for the month of August 2024. He is eligible for the booster reward of 1.0% p.a. nett return on his Versa Cash balance of RM15,000.00 (as he has a higher balance in his Versa Cash than his Versa Cash-i fund) in addition to the prevailing base nett return of Versa Cash in the month of August 2024.He will be rewarded in the month of September 2024. |
| 2 | Anna is an existing auto debit user. She created an auto debit plan of RM500.00 into PRS Growth-i on 10 February 2024. Every 5th* day of the month, RM500.00 is successfully invested into her PRS Growth-i fund.Her Versa Cash balance is RM5,000.00 but she does not have any balance in her Versa Cash-i. | Anna is eligible for the Campaign Reward starting July 2024, for the month(s) where RM500 is successfully invested through auto debit.She is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on her Versa Cash balance of RM5,000.00 (or other amount within the first RM30,000.00 balance) in the following month.In October, she is also eligible for the booster rewards of additional 1.0% p.a. nett returns. This means she will earn 2.0% p.a. nett returns in addition to the prevailing base nett return of Versa Cash for the amount within the first RM30,000 balance (reward will be credited in the month of November).She may increase her Versa Cash balance to RM30,000.00 during the Campaign Period to maximise her rewards. |
| 3 | Ben creates an auto debit plan of RM250.00 into PRS Conservative on 20 July 2024. On the 5th* day of the next month (August 2024), RM250.00 is successfully invested into his PRS Conservative fund.He made a cash in of RM30,000.00 in his Versa Cash on 3 December 2023 and has maintained the same amount since then. He has no balance in his Versa Cash-i. | Ben is eligible for the Campaign Reward for August 2024. He is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on his first RM30,000.00 of his Versa Cash balance in the following month. |
| 4 | Bianca creates an auto debit plan of RM400.00 into her PRS Moderate-i fund on 2 July 2024. On the 5th* day of the next month (August 2024), RM400.00 is successfully invested into her PRS Moderate-i fund.She has a balance of RM2,000.00 in her Versa Cash from 2 July 2024 to 13 August 2024. On 14 August 2024, she cashed in RM28,000.00 into Versa Cash fund and the total available balance of RM30,000.00 in her Versa Cash is reflected on 16 August 2024. | Bianca is eligible for the Campaign Reward for the month of August 2024. She will receive the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on her daily available balance, i.e. RM2,000.00 from 1 August 2024 to 15 August 2024.She is eligible for the booster reward of 1.0% p.a. nett return in addition to the prevailing base nett return on her first RM30,000.00 Versa Cash balance, starting from 16 August 2024 until end of August 2024. She will be rewarded in the month of September 2024. |
| 5 | Charles creates an auto debit plan of RM550.00 into PRS Growth on 10 July 2024. On the 5th* day of the next month (August 2024), RM550.00 is successfully invested into his PRS Growth fund.He has a balance of RM2,000.00 in his Versa Cash that he maintains throughout August 2024. He also cashes in RM10,000.00 into Versa Cash-i and this amount is reflected on 5 August 2024 and he maintains the said amount in Versa Cash-i throughout August 2024. | Charles is eligible for the Campaign Reward for the month of September 2024.He is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on his RM10,000.00 Versa Cash-i balance (which is higher compared to his Versa Cash) starting from 5 August 2024 to 31 August 2024. He will be rewarded in the following month. |
| 6 | On 10 September 2024, Carla creates auto debit plans of RM100.00 into her PRS Moderate fund, RM100.00 into her PRS Growth fund and RM100.00 into her PRS Conservative fund. On the 5th* day of the next month (October 2024), RM100.00 is successfully invested into each of her PRS Moderate, PRS Growth and PRS Conservative fund, making a total cumulative auto debit transaction of RM300.00.She has RM10,000.00 in her Versa Cash account throughout October 2024. | Carla is eligible for the Campaign Reward for the month of October 2024.She will receive the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on her first RM10,000.00 of her Versa Cash balance starting from 1 October to 31 October 2024. She will be rewarded in the following month. |
| 7 | Dominic creates an auto debit plan of RM100.00 into PRS Growth fund and RM100.00 into PRS Growth-i fund on 20 August 2024. | Dominic is not eligible for the Campaign Reward as he did not meet the total cumulative minimum auto debit transaction amount of RM250.00. |
| 8 | Dara creates an auto debit plan of RM500.00 into PRS Growth fund on 30 August 2024. On 7 October 2024, RM500.00 is successfully invested into her PRS Growth fund.She has RM50,000.00 balance in her Versa Cash throughout the Campaign Period but has none in her Versa Cash-i account. | Dara is eligible for the Campaign Reward for the month of October 2024. She is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on her first RM30,000.00 Versa Cash balance, starting from 1 October 2024, as she had missed the August cutoff time to set up an auto debit plan (see Table 1 above). She is also eligible for the booster rewards of additional 1.0% p.a. nett returns. This means she will earn 2.0% p.a. nett returns in addition to the prevailing base nett return of Versa Cash for the amount within the first RM30,000 balance for the month of October.For her RM20,000.00 Versa Cash balance, she will continue to enjoy the base net return rate.She will be rewarded in the following month.(Hence, users are encouraged to set up their auto debit plans based on the Auto Debit Transaction Cut Off Time (see Table 1 above) to maximise their chances for eligibility for the booster reward.) |
| 9 | Ethan creates an auto debit plan of RM200.00 into Versa Cash on 8 September 2024. He has RM30,000.00 in his Versa Cash-i account. | Ethan is not eligible for the Campaign Reward as he does not meet the criteria of creating an auto debit plan for any PRS via Versa fund. |
| 10 | Eleena makes manual cash in of RM200.00 into PRS Growth every month since April 2024. | Eleena is not eligible for the Campaign Reward as she did not utilise the auto debit feature to create an auto debit plan. |
| 11 | Fabian creates an auto debit plan of RM250.00 into PRS Growth-i on 10 July 2024. On the 5th* day of the next month (August 2024), RM250.00 was not successfully invested into his Versa Growth account due to insufficient funds in his bank account. The RM250.00 is successfully invested on the 5th* day of September 2024. Throughout the Campaign Period, he has RM5,000.00 balance in his Versa Cash but none in his Versa Cash-i account. | Fabian is not eligible for the Campaign Reward in the month of August 2024 as he did not successfully invest RM250.00 into his PRS Growth-i. He is only eligible for the booster reward of 1.0% p.a. nett return in addition to the prevailing base nett return on his RM5,000.00 Versa Cash balance starting 1 September 2024 to 30 September 2024.He will be rewarded in the following month. |
| 12 | Fiona creates an auto debit plan of RM250.00 into her PRS Conservative fund on 20 July 2024. On the 5th* day of the next month (August 2024), RM250.00 is successfully invested into her PRS Conservative fund. She has RM10,000.00 in Versa Cash and RM10,000.00 in Versa Cash-i in August 2024. | Fiona is eligible for the Campaign Reward in the month of August 2024. She is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on her first RM10,000 in her Versa Cash account. Versa Cash will be the default fund to be rewarded in the scenario where both Versa Cash and Versa Cash-i have the same available balance.She will be rewarded in the following month. |
| 13 | George creates an auto debit plan of RM300.00 into his PRS Moderate fund on 12 September 2024. On 7 October 2024, he successfully invested RM300.00 into his PRS Moderate fund.He has RM35,000.00 in his Versa Cash. | George is eligible for the Campaign Reward in the month of October 2024.He is eligible for the booster rewards of 1.0% p.a. nett return in addition to the prevailing base nett return on his first RM30,000.00 Versa Cash balance, starting from 1 October 2024.He is also eligible for the booster rewards of additional 1.0% p.a. nett returns. This means he will earn 2.0% p.a. nett returns in addition to the prevailing base nett return of Versa Cash for the amount within the first RM30,000 balance for the month of October.For his RM5,000.00 Versa Cash balance, he will continue to enjoy the base net return rate.He will be rewarded in the following month. |
*If the 5th day of the month falls on a weekend or public holiday, then the Auto Debit Date will fall on the next available business day.
5. Miscellaneous:
5.1 All cash-in made by Users via any Third-Party Account will not be eligible for this Campaign and all Campaign Rewards given (if any) will be forfeited. For the avoidance of doubt, a Third-Party Account includes any corporate bank accounts, joint accounts and other accounts that are not in the sole name of the User him/herself.
5.2 Users warrant and represent that:
a) the users are the lawful and authorised holders of the bank account used for setting up the auto debit plan; and
b) all information submitted to Versa in connection with auto debit plan is true and correct;
5.3 The Users’ Versa account must be active when Versa credits the Campaign Reward(s). Versa reserves the right to cancel, void and/or forfeit the Campaign Reward(s) notwithstanding the same has been credited in the event the User’s Versa account(s) becomes dormant or inactive.
5.4 Without limiting the generality of any provision in the Terms and Conditions herein, by participating in this Campaign, Users expressly agree:
a) that Users have read, understood, fully and unconditionally agree and accept all the Terms and Conditions herein;
b) that the decisions of Versa on all matters relating to or in connection to this Campaign (including but not limited to the type and amount of Campaign Reward(s) to be awarded) are final, conclusive and binding on the Users. No queries, appeals, disputes, or correspondences will be entertained by Versa;
c) agree to access Versa’s official website at https://versa.com.my/ on a regular basis to view the Terms and Conditions of this Campaign and ensure to be kept up-to-date on the latest Terms and Conditions of this Campaign. Users shall seek clarification from Versa should any of the Terms and Conditions be not fully understood;
d) that Users are liable and shall personally bear all applicable taxes, rates, governments fees or any other changes that may be levied against the Users under the applicable laws, if any, in relation to their participation in this Campaign;
e) that Versa shall not be held responsible or liable for loss of profit, loss of revenue, loss of opportunity, consequential losses, and expenses of whatsoever nature suffered or incurred by the Users and/or any other third party resulting from, or arising out of, or in connection with this Campaign or the Campaign Rewards awarded under this Campaign; and
f) that Users shall hold harmless, defend and fully indemnify Versa from and against all losses, damages, liabilities, expenses (including reasonable legal costs and expenses), and all third-party actions, proceedings, claims, demands, costs, awards and damages, resulting from or arising out of or in connection with the Users’ acts or omissions in relation to this Campaign.
5.5 Versa further reserves the right:
a) to make further verifications of Users and request for further personal identification details and/or documents of Users;
b) to disqualify or withdraw the Users’ eligibility for the Campaign Reward(s) at any time, including the period after the Campaign Reward has been awarded to the User, should there be any non-compliance with the agreed Terms and Conditions;
c) to amend, vary, modify, add and/or delete any of the Terms and Conditions herein (including but not limited to the Campaign Period and Campaign Reward(s)) from time to time, in its sole and absolute discretion, as shall be notified by Versa on its official website at https://versa.com.my/, which shall be taken as good notice. The latest Terms and Conditions can be found on Versa’s official website as aforementioned. Further, the Users’ continued participation in this Campaign following any such amendment, variation, modification, addition and/or deletion shall constitute unconditional acknowledgement, understanding, agreement, and unqualified acceptance of the same in respect of the latest Terms and Conditions.
d) to cancel, shorten, extend, suspend or terminate this Campaign, in whole or in part, at any time prior to the expiry of the Campaign Period, as shall be notified by Versa on its official website at https://versa.com.my/. For the avoidance of doubt, any cancellation, shortening, suspension or termination of the Campaign at any time prior to the expiry of the Campaign Period shall not entitle the Users or any other persons to any claim or compensation whatsoever against Versa for any losses or damages (including but not limited to any losses of accrued Campaign Reward(s)) howsoever suffered or incurred as a direct or indirect result of such act of cancellation, shortening, suspension or termination, whether or not Versa has been advised of the possibility of such losses or damages; and
e) to not publicly disclose any calculations or formula regarding the Campaign Reward(s).
5.6 Versa shall not be responsible or held liable in respect of any technical failures of any kind whatsoever, intervention, interruption and/or electronic or human errors in (a) the administration and/or processing the relevant transactions; (b) the implementation of this Campaign; and/or (c) the determination of the Users’ eligibility for the Campaign Reward(s).
5.7 Versa shall not be responsible or held liable for any default of its obligations in relation to this Campaign due to any force majeure events which include but not limited to acts of God, insurrection or civil disorders, acts of war, strikes, riots, lockdowns, pandemic, epidemic, movement control order, fire, flood, storm, drought, change of law and/or regulation, cyber-attack, digital hack or digital security breach by unauthorised parties, and other events and/or circumstances of whatever nature beyond the reasonable control of Versa.
5.8 The Terms and Conditions herein shall be governed by and construed in accordance with the laws of Malaysia, and shall prevail over any provisions or representations contained in any brochure or other promotional materials advertised under this Campaign.
5.9 In the event of ambiguity of any of the clauses herein, Versa’s interpretation shall be adopted for the purpose of implementation of the Terms and Conditions herein and as to any other ancillary matters relating to this Campaign.
6. Personal Data:
6.1 By participating in this Campaign, Users warrant that all respective information, details and statements are true, correct, accurate and complete at all material times.
6.2 By participating in this Campaign, Users are deemed to have freely and voluntarily agreed and consented to the collection, processing, use, disclosure and retention by Versa of their respective personal data in the manner as set out in the Personal Data Notice given at https://versa.com.my/privacy-notice/.