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Versa Private Retirement Scheme Campaign: 3X Rewards – Terms & Conditions

Versa Private Retirement Scheme Campaign: 3X Rewards (“Campaign”) is organised by Versa Asia Sdn Bhd (“Versa”) and shall be subjected to the terms and conditions herein (“Terms and Conditions”). 

1.0 Eligibility:

  1. This Campaign is open to all new Versa Private Retirement Scheme (“PRS”) application users holding a Malaysian citizenship, aged eighteen (18) and above (“Users” or individually “User”), subject to the Terms and Conditions herein.
  1. To participate in this Campaign, Users must deposit fresh funds of a minimum total of RM3,000.00 in any of Versa’s PRS funds (“Fresh Funds”). For the avoidance of doubt, “Fresh Funds” means additional funds that do not originate or is not transferred from the Users’ existing Versa funds account(s), if any. 
  1. 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. 

2.0 Campaign Period and Details:

  1. The Campaign will commence on 23 October 2023, 0001hr (Malaysian time) and end on 29 December 2023, 1430hr (Malaysian time), both dates inclusive (“Campaign Period”).
  1. 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. 

3.0 Campaign Rewards:

  1. The respective Campaign Rewards are as follows:

 

No3X Campaign Rewards
Campaign Reward #16% p.a. net returns on the User’s first RM10,000.00 in Versa Cash (Enhanced Deposit Fund) balance for a duration of 90 days starting from the date of the User’s first successful cash in to any PRS funds made within the Campaign Period that meets the required minimum total amount of Fresh Funds of RM3,000.00.
Campaign Reward #2RM50.00 Versa Cash Bonus
Campaign Reward #3RM50.00 Referral Reward for both the user and user’s friend or family member
2. The Campaign Reward is open to all eligible Users who successfully fulfilled the criteria stated in Clause 4.0 below.
3. The Campaign Reward will be deposited into the User(s)’s respective fund – Versa Cash (Enhanced Deposit Fund) – in the form of units.

4.0 Campaign Mechanics & Conditions:

  1. The Campaign Reward will be awarded to Users on a first-come, first-serve basis. In the event that the total Campaign Reward has been fully utilised, Users will continue to earn the prevailing Versa Cash (Enhanced Deposit Fund) promotional rate or the normal base net return rate, whichever is applicable.
  1. Campaign Reward #1: 6% p.a. Net Returns in Versa Cash (Enhanced Deposit Fund)
    • To be eligible for this Campaign Reward, Users are required to deposit a minimum total of RM3,000.00 Fresh Funds into his/her Versa’s PRS funds during the Campaign Period. In other words, Users are permitted to make multiple deposits into Versa’s PRS funds during the Campaign Period; however, Users must maintain a minimum total of RM3,000.00 in any of Versa’s PRS funds after any additional fees including Private Pension Administration Annual Fees in order to be eligible for this Campaign Reward.
    • This Campaign Reward is applicable to the first 5,000 Users only, on a first-come first-serve basis. In the event that the total Campaign Reward has been fully utilised, Users will be eligible for the prevailing Versa Cash (Enhanced Deposit Fund) promotional rate or the normal base net return rate, whichever is applicable.
    • This Campaign Reward of 6% p.a. net returns will only apply to the first RM10,000.00 balance in the User’s Versa Cash (Enhanced Deposit Fund). For the subsequent amounts above RM10,000, the prevailing Versa Cash (Enhanced Deposit Fund) promotional rate or the normal base net return rate, whichever is applicable, will apply.
    • This Campaign Reward of 6% p.a. net returns will only be applicable for a duration of 90 days, starting from the date of the User’s first successful cash in made within the Campaign Period that meets the required minimum total amount of Fresh Fund of RM3,000.00. The Campaign Reward will be awarded to the User’s Versa Cash (Enhanced Deposit Fund) in the form of units, in 30 working days. 
    • The Campaign Reward will be calculated based on the balance in the User’s Versa Cash (Enhanced Deposit Fund). 
    • In the event that the User makes a full withdrawal from their Versa Cash (Enhanced Deposit Fund) during the Campaign Period, the User will only be eligible for the Campaign Reward up to the date of the withdrawal request. 
    • Versa will not reward the User if the Campaign Reward payout amounts to less than RM0.01.
  2. Campaign Reward #2: RM50.00 Versa Cash Bonus
    • To be eligible for this Campaign Reward, Users are required to deposit a minimum total of RM3,000.00 Fresh Funds into their Versa’s PRS funds during the Campaign Period. In other words, Users are permitted to make multiple deposits into Versa’s PRS funds during the Campaign Period; however, Users must maintain a minimum total of RM3,000.00 in any of Versa’s PRS funds after any additional fees including Private Pension Administration Annual Fees in order to be eligible for this Campaign Reward. 
    • This Campaign Reward is open to all Users who successfully complete registration for Versa PRS funds without a referral or campaign code during the Campaign Period.
    • The RM50.00 Versa Cash Bonus will be credited into the User’s Versa Cash (Enhanced Deposit Fund) in 30 working days from the date of the User being eligible for this Campaign Reward. 
  3. Campaign Reward #3: RM50.00 Referral Reward
    • To be eligible for this Campaign Reward, Users are required to share the unique Versa referral code with their friends or family members during the Campaign Period. 
    • A User will receive this Campaign Reward #3 when his/her referred friend or family member successfully completes the registration for Versa PRS funds using the User’s referral code and makes an initial deposit into Versa’s PRS funds (instead of Versa Cash (Enhanced Deposit Fund) or Versa Invest funds) during the Campaign Period.
    • Reward mechanics:
 When the User’s referred friend/ family member makes cash in from RM100.00 to RM2,999.99Upon the User’s referred friend/ family member makes total cash in of RM3,000.00 and above within the Campaign PeriodTotal
User’s RewardRM10.00RM40.00RM50.00
Referred friend/ family member’s  RewardRM10.00RM40.00RM50.00
  • The User and his/her referred friend/family member will receive the Campaign Reward in two batches:
    1. If the User’s referred friend/family member puts in a minimum amount of RM100.00 into his/her PRS funds account after applying the referral code, both the User and his/her referred friend/family will each receive RM10.00 reward in their respective Versa Cash Funds’ accounts in 30 working days. 
    2. Upon cashing in a total amount of RM3,000.00 and above within the Campaign Period, the User and his/her referred friend/family member will each receive the remaining RM40.00 balance in their respective Versa Cash (Enhanced Deposit Fund) in 30 working days.
  • Users are permitted to make multiple deposits into Versa’s PRS funds throughout the Campaign Period; however, Users must ensure that the total deposit amount accumulates to a minimum of RM3,000.00 to be eligible for participation.
  • Any referrals made by Users before and after the Campaign Period (whether or not the registration for Versa PRS funds and eKYC is successfully completed) will be disqualified for this Campaign Reward.
  • Sample scenarios as below:
NoSample ScenariosResults
1Amy cashed in RM3,000.00 in a single transaction to her PRS account during the Campaign Period.

Amy is among the first 5,000 users to have cashed in RM3,000.00 into her PRS account.		Amy is eligible for the Campaign Reward #1: 6% p.a. net returns in Versa Cash (Enhanced Deposit Fund) and Campaign Reward #2: RM50.00 Versa Cash Bonus.
2Anthony made a first cash in of  RM1,500.00 to his PRS account on 25 October 2023.

On 30 November 2023, Anthony made another cash in of RM1,500.00 into his PRS account.

Anthony is among the first 5,000 users to have cashed in RM3,000.00 into his PRS account.

Anthony has balance of RM5,000.00 in his Versa Cash (Enhanced Deposit Fund) during the Campaign Period.		Anthony is eligible for the Campaign Reward #1: 6% p.a. net returns in Versa Cash (Enhanced Deposit Fund)  and Campaign Reward #2: RM50.00 Versa Cash Bonus.

The Campaign Reward #1: 6% p.a. net returns is applicable on his balance of RM5,000.00 in his Versa Cash (Enhanced Deposit Fund) as he cashed in a total of RM3,000.00 in his PRS account. 

In addition, the Campaign Reward #2: RM50.00 Versa Cash Bonus will be deposited into Anthony’s Versa Cash (Enhanced Deposit Fund).

However, he will only be entitled to this Campaign Reward from 30 November 2023 and it will be applied for the next 90 days.
3Anne made a first cash in of  RM2,000.00 to her Versa PRS funds on 30 October 2023.

On 15 December 2023, Anne made another cash in of RM1,000.00 into her Versa PRS funds.

Anne is among the first 5,000 users to have cashed in RM3,000.00 into his Versa PRS funds.

Anne has balance of RM20,000.00 in her Versa Cash (Enhanced Deposit Fund) during the Campaign Period.		Anne is eligible for the Campaign Reward #1: 6% p.a. net returns in Versa Cash (Enhanced Deposit Fund) on her first RM10,000.00 in her Versa Cash (Enhanced Deposit Fund) as she cashed in a total of RM3,000.00 in her Versa PRS funds. 

However, she will only be eligible for this Campaign Reward from 15 December 2023 and it will be applied for the next 90 days.

In addition, Anne is also eligible for the Campaign Reward #2: RM50.00 Versa Cash Bonus.
4Aiden cashed in RM2,000.00 in his Versa PRS funds during the Campaign Period.Aiden is not eligible for any Campaign Reward as his Versa PRS funds’ balance does not meet the minimum requirement of RM3,000.00.
5Alia registered for PRS and made a cash in of RM2,900.00 within the Campaign Period.Alia is not eligible to receive any Campaign Reward as her Versa PRS funds’ balance does not meet the minimum requirement of RM3,000.00
6During the Campaign Period, Ali shares his referral code with 3 friends.

Only 2 friends have successfully completed their Versa PRS funds account registrations with Ali’s referral code, completed eKYC and made a first deposit of RM3,000.00 each into their respective Versa PRS funds (instead of Versa Cash (Enhance Deposit Fund) and Versa Invest funds) during the Campaign Period.		Ali is eligible for 2 Campaign Reward #3: RM50.00 Referral Reward (totalling RM100.00) as he successfully referred 2 friends who respectively made their first deposit of RM3,000.00 into their PRS Funds account (instead of Versa Cash and Versa Invest funds) within the Campaign Period. 

The 2 referred friends are also eligible for the Campaign Reward #3: RM50.00 Referral Reward each as they made the deposit of RM3,000.00 into their respective PRS Funds. Further, the 2 referred friends will also be eligible for the Campaign Reward #1: 6% net returns in Versa Cash (Enhanced Deposit Fund) and Campaign Reward #2: RM50.00 Versa Cash Bonus.
7During the Campaign Period, Alicia shares her referral code with 1 friend.

This friend has successfully completed his Versa PRS funds account registration with Alicia’s referral code, completed eKYC, and made a first deposit of RM100.00 into his PRS account on 1 November 2023

This friend then deposits another RM2,900.00 into his PRS account on 30 November 2023. 		Both Alicia and her friend will initially each be eligible for the existing Referral Reward of RM10.00, as Alicia has successfully referred her friend who registered for the Versa PRS funds and made his first deposit of RM100.00. 

When Alicia’s friend deposited another RM2,900.00 (hence a total balance amount of RM3,000.00) in his PRS account on 30 November 2023, both Alicia and her friend are again eligible for the additional RM40.00 Referral Reward under Campaign Reward #3 (making a total of RM50.00 Referral Reward each).
8During the Campaign Period, Aloysius shares his referral code with 1 friend.

This friend completed his Versa account registration with Aloysius’ referral code, completed eKYC, but made his first deposit of RM3,000.00 into Versa Cash.		Aloysius is not eligible for the Campaign Reward #3: RM50.00 Referral Reward as his friend did not make the first deposit into Versa PRS. 

However, Aloysius will be eligible for the existing Referral Reward of RM10.00 into Versa Cash.
9During the Campaign Period, Anusha shared her referral code with a friend.

This friend completed his Versa account registration with Anusha’s referral code, completed eKYC, but made his first deposit of RM2,000.00 into PRS on 2 November 2023.

This friend then deposited RM1,000.00 into PRS on 5 January 2024.		Anusha is not eligible for the full Campaign Reward #3: RM50.00 Referral Reward as her friend did not meet the minimum total deposit of RM3,000.00 within the Campaign Period. However, she will be eligible for the existing Referral Reward of RM10.00 as her friend cashed in a minimum of RM100.00 into his Versa PRS funds.

5.0 Miscellaneous:

  1. All deposits 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. 
  1. All Versa accounts must be active when Versa deposits 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 deposited in the event the User’s Versa account becomes dormant or inactive.
  1. Without limiting the generality of any provision in the Terms and Conditions herein, by participating in this Campaign, Users expressly agree:
    • that Users have read, understood, fully and unconditionally agree and accept all the Terms and Conditions herein;
    • 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;
    • agree to access Versa’s official website at https://alpha.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;
    • 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;
    • 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
    • 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.
  2. Versa further reserves the right:
    • to make further verifications of Users and request for further personal identification details and/or documents of Users;
    • 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;
    • 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://alpha.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.
    • 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://alpha.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
    • to not publicly disclose any calculations regarding the Campaign Reward(s).

 

  1. 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).
  1. 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.
  1. 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.
  1. 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.

6.0 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://alpha.versa.com.my/privacy-notice/.