5% p.a. Nett Return Promotion for New Versa Users (“Campaign”)
From 16 July 2024 to 15 August 2024
5% p.a. New User Acquisition (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) subject to the terms and conditions herein (“Terms and Conditions”).
1.0 Eligibility:
1.1 The Campaign is open to all New Versa application users that do not have an existing Versa account or closed Versa account, and hold a Malaysian citizenship, aged eighteen (18) and above (“User” or “Users”) subject to the Terms and Conditions herein.
1.2 In the event a User is found to be ineligible or discovered to have committed fraud and/or abuse of system, and/or any other scenario deemed as fraud or abuse of system by Versa, at any point of time during or after the Campaign Period as stated below, Versa reserves the right at its sole discretion to disqualify the said User(s) and to cancel/withdraw/recall any prize granted to the User(s), failing which, the User(s) agrees and undertakes to indemnify Versa for the value and costs of such credit & incentives. Versa shall have the right to initiate any action it deem necessary against the said User(s).
2.0 Campaign Period and Details
2.1 Unless otherwise notified by Versa, the Campaign will be conducted from 16th July 2024, 0001hr (Malaysia time) to 15th August 2024, 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 and without assigning any reason whatsoever. Versa further reserves the right, without any liability on its part whatsoever, to cancel, postpone, terminate, suspend or in any other way cease the Campaign at any time without prior notice.
3.0 Campaign Reward
3.1 New Users will receive a total of 5% p.a. nett returns, on the first RM5,000 balance in the New User’s Versa Cash or Versa Cash-i account. (“Campaign Reward”).
3.2 The Campaign Reward examples are as follows:
| Campaign Reward | Prevailing Base Nett Return | Calculation |
5% p.a. nett returns | Versa Cash (based on historical performance in June 2024) | Versa Cash base nett return rate + promotion nett return rate = Campaign Reward Example: 3.67% p.a. + 1.33% p.a. = 5% p.a. |
| – | OR | – |
| 5% p.a. nett returns | Versa Cash-i (based on historical performance in June 2024) | Versa Cash-i base nett return rate + promotion nett return rate = Campaign Reward Example: 3.42% p.a. + 1.58% p.a. = 5% p.a. |
3.3 The Campaign Reward is open to all eligible User(s) that successfully fulfill the criteria stated in clause 4.0.
3.4 The Campaign Reward of 5% p.a. nett returns will only be applicable from 1 August 2024 – 31 August 2024, starting from the date of your first successful Cash In made within this Period.
3.5 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.
3.6 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.
3.7 Versa will not reward New User if the Campaign Reward payout amounts to less than RM0.01.
3.8 The Campaign Reward is limited to the first 5,000 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.
3.9 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.
4.0 Campaign Mechanics
4.1 All New Users are required to download the Versa app, successfully complete account registration with promo code VPARENT, and have a verified and approved Versa account.
4.2 All New Users are required to make a minimum first Cash In of RM10 into their respective Versa Cash or Versa Cash-i account during the Campaign Period, to qualify for the Campaign Reward.
4.3 The Campaign Reward of 5% p.a. nett returns will only apply to the first RM5,000 balance in each New User’s Versa Cash or Versa Cash-i account.
4.4 Sample scenarios as below, where Versa Cash’s and Versa Cash-i’s monthly base rates are of June 2024’s performance are as examples:
| No | Sample Scenarios | Results |
| 1 | Johan successfully created a Versa account with code “VPARENT”. He made a first cash in of RM3,000 into his Versa Cash and it is reflected in his app on 22 July 2024. | Johan is eligible for the Campaign Reward: 22-31 July 2024: – 3.67%p.a. for RM3,000 Versa Cash 1 – 31 August 2024: – 5% p.a. for RM3,000 He will receive this 5% p.a. reward in the month of September 2024. |
| 2 | Jacintha successfully created a Versa account with “VPARENT” code and made a first cash in of RM5,000 into Versa Cash. Her cash in amount is reflected in her app on 28 July 2024. | Jacintha is eligible for the Campaign Reward: 28 – 31 July 2024: – 3.67%p.a. for RM5,000 Versa Cash 1 – 31 August 2024: – 5% p.a. for RM5,000 Versa Cash She will receive this 5% p.a. reward in the month of September 2024. |
| 3 | Siti successfully created a Versa account with “VPARENT” code and made a first cash in of RM8,000 into Versa Cash. Her cash in amount is reflected in the app on 22 July 2024. | Siti is eligible for the Campaign Reward: 22 – 31 July 2024: – 3.67% p.a. for RM8,000 Versa Cash 1 – 31 August 2024: – 5% p.a. for RM5,000 Versa Cash – 3.67% p.a. for remaining RM3,000 Versa Cash She will receive this 5% p.a. reward in the month of September 2024. |
| 4 | Shawn successfully created a Versa account with “VPARENT” code. He made a first cash in of RM3,000 into Versa Cash and another cash in of RM2,000 into Versa Cash-i on 1 August 2024. His cash in amount is reflected in the app on 8 August 2024. | Shawn is eligible for the Campaign Reward: 8 – 31 August 2024: – 5% p.a. for RM3,000 Versa Cash – 3.42% p.a. for RM2,000 Versa Cash-i He will receive this 5% p.a. reward in the month of September 2024. |
| 5 | Ahmad created a Versa account on 1 August 2024. He did not use the “VPARENT” code but made a first cash in of RM5,000 into Versa Cash-i which is reflected on 8 August 2024. | Ahmad is not eligible for the Campaign Reward as he did not use the “VPARENT” code. He will earn the respective month’s base nett return rate. |
| 6 | Alia created a Versa account with “VPARENT” code on 23 July 2024. She made a first cash in of RM3,000 into Versa Cash-i on 1 September 2024. | Alia is not eligible for the Campaign Reward as she did not cash in within the Campaign Period. She will earn the respective month’s base nett return rate. |
| 7 | Danesh created a Versa account with “VPARENT” code on 23 July 2024. During the campaign period, he successfully cashed in RM1,000 into Versa Growth and RM1,000 into Versa SGD. | Danesh is not eligible for the Campaign Reward as he did not make any cash in to any Versa Save funds (Versa Cash or Versa Cash-i). |
| 8 | Dalia created a Versa account with “VPARENT” code on 23 July 2024. She made a first cash in of RM3,000 into Versa Cash-i and it is reflected in the app on 18 August 2024. | Dalia is eligible for the Campaign Reward: 18 – 31 August 2024: – 5% p.a. for RM3,000 Versa Cash |
5.0 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.
6.0 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 hav