PRS Via Versa Promotion: RM50 Versa Cash Bonus – Terms & Conditions

PRS Via Versa Promotion: RM50 Versa Cash Bonus (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) and shall be subject to the terms and conditions herein (“Terms and Conditions”). 

NB: This campaign has ended on 16 October 2024.

1. Eligibility:
   1. This Campaign is open to all new or existing Private Retirement Scheme (“PRS”) via Versa application Users, as the case may be, holding a Malaysian citizenship, aged eighteen (18) and above (“Users” or individually “User”), subject to the Terms and Conditions herein.
      New PRS via Versa application Users are those who have created a PRS via Versa account on or after 1 January 2024 onwards, regardless of when they have created their Versa account. 
      Existing PRS via Versa application Users are those who have created a PRS via Versa account before 1 January 2024, regardless of when they have created their Versa account.
      
   2. To be eligible for participation in this Campaign and to qualify for the Campaign Reward(s) hereunder, Users must (“Cash In”) (“Fresh Funds”) of a minimum accumulated sum of RM3,000 in any of PRS via Versa funds during the Campaign Period. Users must also maintain the newly cashed-in accumulated sum of RM3,000.00 on his/her PRS via Versa account balance during the Campaign Period.
      For the avoidance of doubt, “Fresh Funds” means additional funds on top of User(s) balance as of 31 December 2023 that do not originate or are not transferred from the Users’ existing Versa funds account(s), if any. 
      Additionally, “Cash In” means completing an FPX transaction within the Versa mobile application.
      Please note that it will take a minimum of 5 working days for the cashed in amount to reflect in the User’s PRS via Versa account balance. Users are advised to plan his/her cash in time accordingly.
      
   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 the Terms and Conditions, or has been declared bankrupt, or is subject to any bankruptcy proceedings, at any point of time prior, during or after the Campaign Period as stated 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 under this Campaign. The User hereby agrees and undertakes to fully indemnify Versa for the value and costs of such units & incentives, damages and/or losses arising therefrom. Versa shall have the right to initiate any action it deems necessary against the said User. 

2. Campaign Period and Details:
   1. The Campaign will commence on 1 January 2024, 0001hr (Malaysian time) and end on 16 October 2024, 2359hr (Malaysian time), both dates inclusive (“Campaign Period”).
      
   2. Versa reserves its absolute right and discretion to vary or amend the Campaign Period at any time in accordance with Clause 5(d)(iv) below.

3. Campaign Rewards:
   1. The Campaign Reward is open to all eligible Users who successfully fulfill the criteria stated in Clause 4.0 below.
      
   2. The Campaign Reward will be cashed in into the User(s)’s respective fund – Versa Cash (Enhanced Deposit Fund) – in the form of units. 

4. Campaign Mechanics & Conditions:
   1. To be eligible for this Campaign Reward, Users are required to cash in fresh funds of a minimum accumulated sum of RM3,000.00 into his/her PRS via Versa fund during the Campaign Period. Existing PRS via Versa Users must cash in fresh funds of a minimum accumulated sum of RM3,000.00 on top of User(s) balance as of 31 December 2023 that do not originate or are not transferred from the Users’ existing Versa funds account(s), if any.
      
   2. The RM50.00 Versa Cash Bonus will be credited into the User’s Versa Cash (Enhanced Deposit Fund) within 30 working days from the date of the User being eligible for this Campaign Reward. 
      
   3. Users are permitted to make multiple manual cash-ins or auto-debit transactions into PRS via Versa funds throughout the Campaign Period. Users who opt for multiple manual cash-ins must ensure that the total accumulated sum of cash-ins to their PRS via Versa fund is a minimum of RM3,000.00 during the Campaign Period to be eligible for participation.
      
      Users who set up auto-debit transactions into their PRS via Versa funds during the Campaign Period, must ensure that the total accumulated sum reaches a minimum of RM3,000.00 by 31 December 2024 to be eligible for participation. 
      
   4. Sample scenarios:

No	Sample Scenarios	Results
1	Tim is a new PRS via Versa User in 2024. He cashed in RM3,000.00 in a single transaction to his PRS via Versa funds. On 5th January 2024, Tim’s PRS via Versa account showed a total cash in amount of RM3,000.00.	Tim is eligible for the Campaign Reward.
2	Tina is a new PRS via Versa User in 2024. She cashed in RM2,500.00 into her PRS via Versa funds on 5th March 2024.  She then cashed in an additional RM500.00 into her PRS via Versa totalling to RM3,000. This total cash in amount is reflected in her PRS via Versa account on 10th June 2024.	Tina is eligible for the Campaign Reward.
3	Sam is a new PRS via Versa User in 2024. He cashed in RM2,000 into his PRS via Versa funds on 28th February 2024.  He then cashed in an additional RM1,000 into his PRS via Versa totalling to RM3,000 on 3rd July 2024. He does not make any subsequent cash ins to PRS via Versa.	Sam is eligible for the Campaign Reward.
4	Sandra cashed in RM3,000 into her PRS via Versa funds on 10th August 2024.	Sandra is eligible for Campaign Reward.
5	Matt is a new PRS via Versa User in 2024. In January 2024, Matt set up an auto debit plan of RM250 per month to his PRS via Versa account. By 31 December 2024, his PRS via Versa balance reached RM3,000.	Matt is eligible for the Campaign Reward.
6	Maria is a new PRS via Versa User in 2024. She cashed in RM1,500 into her PRS via Versa account on 19th March 2024.  On 10th April 2024, she set up an auto debit plan of RM250 per month into her PRS via Versa funds. Her total cash in amount of RM3,000 in her PRS via Versa fund is reflected in October 2024.	Maria is eligible for the Campaign Reward.
7	Randy is an existing PRS via Versa User since 2023. He cashed in RM3,000 into his PRS via Versa account on 19th December 2023.  He then cashed in RM3,000 into his PRS via Versa account on 3rd March 2024 making his total cash-in amount RM6,000.	Randy is eligible for the Campaign Reward.
8	Rachel is an existing PRS via Versa User since 2023. She cashed in RM2,000 into her PRS via Versa account on 10th November 2023. She then cashed in RM1,000 into her PRS via Versa account on 20th May 2024.	Rachel is not eligible for the Campaign Reward as she does not meet the total accumulated sum of RM3,000 within the Campaign Period.

5. Miscellaneous:
   1. All cash ins 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. 
      
   2. All Versa accounts of Users must be (“Active”) when Versa cashes in the Campaign Reward(s) into the User’s Versa Cash (Enhanced Deposit Fund). Versa reserves the right to cancel, void and/or forfeit the Campaign Reward(s) notwithstanding the same has been cashed in in the event the User’s Versa account(s) becomes dormant or inactive.
      
   3. For the avoidance of doubt, “Active” means Users who maintain an active account with balance.
      1. Without limiting the generality of any provision in the Terms and Conditions herein, by participating in this Campaign, Users expressly agree:
      2. that Users have read, understood, fully and unconditionally agree and accept all the Terms and Conditions herein;
      3. 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;
      4. 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;
      5. 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;
      6. 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
      7. 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.
         
   4. Versa further reserves the right:
      1. to make further verifications of Users and request for further personal identification details and/or documents of Users;
      2. 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;
      3. 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 Terms and Conditions.
      4. 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
      5. to not publicly disclose any calculations regarding the Campaign Reward(s).
         
   5. 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 the administration and/or processing the relevant transactions and/or the determination of the Users’ eligibility for the Campaign Reward(s).
      
   6. 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, fire, flood, storm, drought, change of law and/or regulation, digital hack or digital security breach by unauthorised parties, and other events and/or circumstances of whatever nature beyond the reasonable control of Versa.
      
   7. 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.
      
   8. Versa is the final authority to decide on the interpretation and/or implementation of the Terms and Conditions herein and as to any other ancillary matters relating to this Campaign.
      
   9. Any queries regarding the Campaign can be directed via email to Versa’s Support team: [email protected]
      
6. Personal Data:
   1. By participating in this Campaign, Users warrant that all information, details and statements are true, correct, accurate and complete.
      
   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 personal data in the manner as set out in the Personal Data Notice given at https://versa.com.my/privacy-notice/.