PRS RM50 Bonus Quest – Terms & Conditions

PRS RM50 Bonus Quest (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) and shall be subject to the terms and conditions herein (“Terms and Conditions”).
NB: To be eligible for the reward, users must click “Join Now” within the PRS RM50 Bonus Quest under the Versa Quest feature on the app.

1. Eligibility

1.1 This Campaign is open to all new or existing Versa application users holding a Malaysian citizenship, aged eighteen (18) and above (“User” or “Users”) subject to the Terms and Conditions therein.
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 All User(s) must deposit the required Fresh Funds in their Private Retirement Scheme (‘PRS’) portfolio to participate in this Campaign. “Fresh Funds” means additional funds on top of User(s) current balance as of 31 December 2024 , that do not originate from any Versa account.
1.4 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 decline to credit the Campaign Reward or where the Campaign Reward has already been credited, to immediately cancel, withdraw and/or recall the rewards credited 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 further right to initiate any action it deems necessary against the defaulting User(s) mentioned herein.

2. Campaign Period and Details:

2.1 Unless otherwise notified by the Versa, the Campaign will be conducted from 1 January 2025, 0001hr (Malaysia time) to 31 March 2025, 2359hr (Malaysia time) (“Campaign Period”), both dates inclusive.
2.2 Versa reserves its absolute right and discretion to vary or amend the Campaign Period at any time without prior notice, without assigning any reason whatsoever.

3. Campaign Mechanics:

3.1 To be eligible for this Campaign (as defined below)
a. User(s) must cash in a minimum total of RM3,000 this year, from 1 January 2025 to 31 March 2025. User(s) can either top up their existing balance to reach a total of RM3,000 in cash-ins this year or make fresh cash-ins to meet the RM3,000 requirement within this period
b. User(s) 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 to be maintained throughout the Campaign Period
3.2 Users must click ’Join Now’ in the PRS RM50 Bonus Quest available within the Versa Quest feature on the app.
3.3 User(s) who have reached a minimum total cash-in of RM3,000 before 1 January 2025 are not eligible for the campaign reward.

4. Campaign Reward:

4.1 Subject to the Terms and Conditions herein, all eligible User(s) who successfully fulfilled the Campaign Mechanics and Conditions stated in Clause 3 above will enjoy RM50 in their Versa Cash or Versa Cash-i.
4.2 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 December 2024.
4.3 Where both the User’s Versa Cash and Versa Cash-i have the same available balance, Versa Cash-i will be the default fund to be rewarded.
4.4 The Campaign Reward will be disbursed to eligible Users in the month of April 2025.
4.5 The Campaign Reward is limited to the first 10,000 User(s) who are eligible for the Campaign Reward in accordance with the Terms and Conditions on a first-come-first-serve basis. For the avoidance of doubt, each user is only entitled to enjoy RM50 Versa Save reward once.
4.6 Table 1 below is a sample calculation of the Campaign Reward:

No	Sample Scenarios	Results
1	Tim is a new PRS via Versa User in 2025. He cashed in RM3,000.00 in a single transaction to his PRS Conservative funds through the PRS RM50 Bonus Quest. On 5th January 2025, Tim’s PRS Conservative fund showed a total cash in amount of RM3,000.00. Tim has RM20,000.00 in his Versa Cash fund.	Tim is eligible for the Campaign Reward of RM50 Versa Cash Bonus.
2	Tina is a new PRS via Versa User in 2025. She cashed in RM2,500.00 into her Versa Growth fund through the PRS RM50 Bonus Quest on 5th February 2025.  She then cashed in an additional RM500.00 into her PRS Moderate totaling to RM3,000.00. This total cash in amount is reflected in her PRS via Versa account on 10th March 2025. Tina has RM10,000.00 in her Versa Cash fund.	Tina is eligible for the Campaign Reward of RM50 Versa Cash Bonus.
3	Sandra cashed in RM3,000.00 into her PRS Growth-i fund through the PRS RM50 Bonus Quest on 10th March 2025.  Sandra has RM15,000.00 in her Versa Cash-i fund.	Sandra is eligible for Campaign Reward of RM50 Versa Save Bonus.
4	Matt is a new PRS via Versa User in 2025. In January 2025, Matt set up an auto debit plan of RM250.00 per month to his PRS Moderate-i fund. On 10 March 2025, he cashed in RM2,500.00 into his PRS Moderate-i fund through the PRS RM50 Bonus Quest making his balance a total of RM3,000.00. Matt has RM50,000.00 in his Versa Cash-i fund.	Matt is eligible for the Campaign Reward of RM50 Versa Cash-i Bonus.
7	Randy is an existing PRS via Versa User since 2024. He has previously cashed in RM3,000 on 24th December 2024, and makes another cash in of RM3,000 on 10th January 2025. Randy has RM20,000.00 in his Versa Cash fund.	Randy is eligible for the Campaign Reward of RM50 Versa Cash Bonus.
8	Rachel is an existing PRS via Versa User since 2023. She cashed in RM2,000.00 into her PRS Conservative fund on 10th November 2023. She then cashed in RM1,000.00 into her PRS Conservative fund on 20th May 2024 and did not make any cash in in the year 2025. Rachel has RM5,000.00 in her Versa Cash fund.	Rachel is not eligible for the Campaign Reward as she does not meet the total accumulated sum of RM3,000.00 within the Campaign Period of 1st January 2025 – 31st March 2025.
9	Jacob is a new PRS via Versa User in 2025. He cashed in RM3,000.00 into his PRS Growth fund and it is reflected on 10 February 2025. He did not cash into his PRS Growth through the PRS RM50 Bonus Quest and click ‘Join Now’. Jacob has RM10,000.00 in his Versa Cash fund.	Jacob is not eligible for the Campaign Reward as he did not click “Join Now” on the quest card while cashing into his PRS Growth.
10	Billy is a new PRS via Versa User in 2025. He cashed in RM3,000.00 into his PRS Conservative fund through the PRS RM50 Bonus Quest and it is reflected on 10 February 2025. He has RM500.00 in his Versa Cash fund.	Billy is not eligible for the Campaign Reward as he did not meet the requirement of maintaining RM1,000.00 in either his Versa Cash or Versa Cash-i funds.

4.5 For the avoidance of doubt, the Campaign Reward is not exchangeable with any other forms of credit or benefit-in-kind and is strictly and exclusively rewarded to Users and cannot be redeemed, assigned or transferred to any third party. Versa’s calculation of the Campaign Reward shall be final, conclusive, and binding on Users.
4.6 In regards to withdrawals, PRS users(s) are permitted to withdraw at the age of 55 and above. However, members under the age of 55 are eligible for pre-withdrawals from their PRS Sub-Account B without penalty for healthcare, permanent departure, and housing purposes. Withdrawals for other reasons will incur an 8% tax penalty with further details stated on PPA’s official website https://www.ppa.my/prs-and-you/prs-faq/.

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 Reward given (if any) will be forfeited. A third-party account includes any corporate bank accounts, joint accounts and other accounts that are not in the sole name of the Users himself/herself.
5.2 The Users’ account must be active when Versa credits the Campaign Reward. Versa reserves the right to decline to credit the Campaign Reward and/or to cancel, void and/or forfeit the Campaign Reward notwithstanding the same has been credited, in the event the User’s Versa account(s) becomes dormant or inactive.
5.3 Without limiting the generality of any provisions of 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 with this Campaign (including but not limited to any dispute arising therefrom) 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 clarifications 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 Reward awarded under this Campaign, whether directly or indirectly; 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’ own acts or omissions in relation to this Campaign, whether directly or indirectly.
5.4 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) without prejudice to other rights and remedies of Versa, to disqualify or withdraw the Users’ eligibility for the Campaign Reward at any time, including after the Campaign Reward has been awarded to the Users, should there be any non-compliance by the Users’ with the Terms and Conditions herein and/or should the Users be found or suspected to have otherwise attempted to gain any unfair advantage(s) against Versa;
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) 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. 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, 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 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) 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.
5.5 To the fullest extent permitted in laws, Versa hereby expressly disclaims and excludes any and all representations, warranties or endorsements, whether express or implied, oral or written, including but not limited to those contained or published in any brochures, posters or other promotional or marketing materials, media press and social media.
5.6 Versa shall not be responsible or held liable in respect of any technical glitches or 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.
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, intervention or security breach by unauthorised parties, technical failures of any kind, and other events and/or circumstances of whatsoever 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 anything contained or published in but not limited to any brochures, posters or other promotional or marketing materials, media press and social media.
5.9 In the event of ambiguity (if any) of any of the clauses herein, Versa’s version and/or 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, User(s) 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, User(s) 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/.