Debit Account Terms and Conditions

INTRODUCTION, SCOPE, AND PARTIES

  1. The parties to these Terms of Use are Aspire FT Pte. Ltd. (“hereafter referred to as “Aspire” or “we” or “us”), a private limited company duly established and existing under the laws of the Republic of Singapore with registered office at 1 Syed Alwi Road, #04-04, Singapore 207628, and you, the customer (“Customer” or “you”).
  2. Consumer Advisory – Aspire FT Pte. Ltd. is currently exempted by the Monetary Authority of Singapore from holding a payment institution licence to provide payment services under the Payment Services Act (No. 2 of 2019). Aspire FT Pte. Ltd. continues to provide such services pursuant to the Payment Services (Exemption for Specified Period) Regulations 2020. Customers are advised to carefully read the Terms of Use before acceptance.
  3. The Customer’s business payment account (the “Business Account”), its use thereof, and all payment services are provided by PayrNet Pte. Ltd., a company incorporated in Singapore (UEN No. 201913150C) with its registered office at 160 Robinson Road #14-04 Singapore 068914 (hereinafter referred to as “PayrNet”).
  4. Aspire is a technology service provider and provides various services in order to facilitate the Customer’s use of their Business Account, as well as other related services associated with the Business Account.
  5. These Terms of Use (“Terms”) constitute a legal agreement which apply to the entire offer within the framework of the contractual relationship between Aspire and the Customer, and shall apply to the Customer’s use of the website https://aspireapp.com/sg (the “Website”) and all content, features, services and rules provided by Aspire in respect of the Business Account (the “Aspire Business Account Services”).
  6. By electronically accepting or acknowledging these Terms, and completing the sign-up process, you represent, undertake, acknowledge and are deemed to have read and accepted these Terms, and any future amendments and additions to these Terms of Use as published from time to time at https://aspireapp.com/sg Your continued use of the Service after any such changes, whether or not reviewed by you, shall constitute your consent and acceptance of the revised Terms of Use.
  7. For the use of any additionally available services of PayrNet or the integration of the services of PayrNet, as far as a separate contractual relationship of the Customer with PayrNet is required, again the respective and relevant terms & conditions of PayrNet shall apply.

SUBJECT OF THESE TERMS

  1. The subject of these Terms is the Business Account and the Aspire Business Account Services. Through Aspire, you are able to open a business payment account and access the services provided by PayrNet as well as services provided by other third parties (collectively, “Affiliates”) within the Website.
  2. Aspire provides access to these business payment account services as a technical service provider on access, integrations and interfaces (including so-called APIs), which are provided by the respective institute or service providers.

SCOPE OF SERVICE

  1. Aspire alone owns the Aspire Business Account Services as services of Aspire. Aspire does not conduct any banking business and does not provide any regulated banking services in Singapore within the remit of the Banking Act (Cap 19, 2008 Rev Ed).
  2. In the context of the Aspire Business Account Services, account information, in particular, is transmitted encrypted and Aspire uses other suitable, secure procedures to enable the customer to utilise the Aspire Business Account Services.
  3. Aspire always endeavours to ensure the unrestricted usability and availability of the Aspire Business Account Services but cannot provide an unrestricted guarantee vis-a-vis the security. If maintenance work is required and the Aspire Business Account Services are therefore temporarily unavailable, the customer will be informed in good time.
  4. Aspire warrants to the Customer that any limitation or impairment of the Aspire Business Account Services may be outside the control of Aspire. This includes, in particular, acts of third parties who are not acting on behalf of Aspire (including PayrNet or other Affiliates or third party providers), technical conditions of the internet that cannot be influenced by Aspire, and force majeure events. The hardware and software used by the Customer as well as technical infrastructure can also influence the availability of the Aspire Business Account services. Insofar as such circumstances affect the availability or functionality of the Aspire Business Account Services, this shall have no effect on the contractual conformity of the services provided, and shall be solely attributable to the risk undertaken by the Customer.

BUSINESS ACCOUNT

  1. REGISTRATION AND OPENING OF THE ASPIRE BUSINESS ACCOUNT
  2. User registration is a prerequisite for opening and using a Business Account and the Aspire Business Account Services. A bilateral contract arises as follows:
  3. The Customer registers himself via the respective application and / or the Website as a user. The Customer must be a legal representative of the company for whom he is registering a Business Account and must provide the necessary additional information. A confirmation of the registration will be sent to the registered email address.
  4. A contractual relationship is only concluded when the registration process is completed. The acceptance of the general terms & conditions is a condition precedent for completing the registration process successfully.
  5. AUTHORITY OF ACCOUNT HOLDERS
  6. You are authorised to:
  7. open, operate and close the Business Payment Account;
  8. make arrangements with Aspire concerning payments into or out of the Business Payment Accounts;
  9. authorise and request Aspire to effect foreign exchange transactions for your account;
  10. deposit any property with Aspire for safekeeping, have access to and reclaim any property so deposited or give Aspire instructions in relation to it;
  11. execute guarantees, indemnities or other undertakings to Aspire in relation to :
  12. missing documents;
  13. anything else done or to be done by Aspire at your request;
  14. countermand, revoke or amend any Instructions (defined in Section 6); and
  15. give Aspire Instructions relating to any of the above.

INSTRUCTIONS

  1. “Instruction” means a communication, including without limitation a demand for payment which (i) contains the information required by Aspire to enable Aspire to give effect to the communication; (ii) is received by Aspire in writing, by facsimile, tested or untested telex, SWIFT, telephone or via Aspire’s electronic instruction system or such other means as are for the time being agreed by you and Aspire; and (iii) Aspire believes in good faith to have been given by you.
  2. You are responsible for keeping forms and documents and for issuing Instructions in a manner so as to prevent unauthorised completion, alterations or additions.
  3. If Aspire and you at any time agree on a security procedure to be used in relation to any category of communications, (including encryption), you shall safeguard any test keys, passwords, identification codes or other security or authentication devices, make them available only to properly authorised persons and be fully responsible for any use of such security procedure (whether authorised or unauthorised).
  4. Nothing in this Clause 6 obligations Aspire to confirm Instructions which appear to Aspire acting in good faith to have been given by you.

AUTHORITY AND OBLIGATIONS OF ASPIRE

  1. Aspire is authorised and agrees to accept, honour and execute each Instruction which Aspire believes in good faith to have been given by you and any other Instruction communicated by other means which Aspire receives in strict accordance with any agreed security procedure.
  2. Aspire may at its option use any means to confirm or clarify Instructions, even if any agreed security procedure appears to have been followed. If Aspire is not satisfied with any confirmation or clarification, it may decline to honour the Instruction.

DEPOSITS, AVAILABILITY OF FUNDS

  1. You undertake that you have good title to all items presented to Aspire for deposit or for any other purposes.
  2. Money deposited or paid into a Business Account will not be regarded until collected and irrevocable received in cleared funds.
  3. If Aspire credits your Business Payment Account in contemplation of receiving funds for your credit and those funds are not actually received by Aspire, or on the faith of a transaction which is subsequently set aside or revoked, or if Aspire does not receive funds for your credit for value on the date advised by or on your behalf, Aspire shall be entitled to debit your Business Payment Account with the amount previously credited and/or with any other charges incurred.
  4. Aspire reserves the right not to accept, and to return without interest to the remitter of funds, the amounts received for deposit to you on any business day, if the aggregate deposit exceeds any statutorily allowed sums.

ACCOUNT INFORMATION

  1. Aspire will issue a periodic statement of account for the Business Account as agreed with you.
  2. You shall ensure that any statements, confirmations and advices you receive from Aspire are examined within a reasonable time of receipt and, thereupon, you shall promptly notify Aspire of any mistake or discrepancy of which you become aware from such statements, confirmations and advices. Aspire shall not be responsible for your reliance on any balance, transaction or related information which is subsequently updated or corrected or for the accuracy or timeliness of information supplied by any third party to Aspire.

OTHER DOCUMENTS

  1. These Terms replace any existing agreements relating to the subject matter hereof or thereof, with effect from the date Aspire receives the relevant account opening documents.
  2. These Terms are in addition to any future agreement between Aspire and you (including without limitation any agreement relating to the provision of specific payment services) and if there is an inconsistency between these Terms and any such other agreement, any such other agreement will prevail for the purposes of the particular account or service which is the subject of such other agreement.

REVERSALS

  1. Unless otherwise expressly provided, all Instructions shall continue in full force and effect until cancelled or superseded. Instructions may be reversed, amended, cancelled or revoked by you only with Aspire’s consent. That consent shall not be withheld unless Aspire reasonably determines that it would not be possible to give effect to any reversal, amendment or revocation, or Aspire has entered into other transactions or otherwise materially changed its position as a result of receiving such Instructions.

FEES AND CHARGES

  1. Aspire may, at its option, invoice you or debit the Aspire Business Account for services or other out of pocket costs incurred by Aspire for your Business payment Account in accordance with its fee arrangements from time to time.
  2. All payments to be made to Aspire shall be in full, without set off or counterclaim and free of any deductions or withholdings on account of any tax or otherwise.

AML AND KYC CHECKS

  1. In order to enable us to comply with the relevant anti money laundering, counter terrorist financing laws, guidelines and regulations and the KYC and compliance requirements of our partners, Affiliates and third parties, you must provide information about, inter alia, yourself, your activities and your shareholders (“KYC Information”).
  2. By accepting these Terms, you hereby warrant unconditionally that all KYC Information provided by you is correct and up to date.
  3. You undertake to provide Aspire with written notice of any change of the KYC Information and shall on the first request by Aspire, provide such additional information and supporting documentation regarding your business and identity, as well as that of your shareholders’ as Aspire may reasonably determine is necessary to ensure compliance with the applicable laws, notices, guidelines and third party compliance needs.
  4. By accepting these Terms, you hereby agree that Aspire may run further checks on your identity, creditworthiness and other background information by contacting and consulting relevant registries and government authorities.

USE OF THE ASPIRE BUSINESS ACCOUNT

  1. You may make payments through Aspire into the Business Account via such methods as are available in the Website.
  2. You hereby irrevocably and unconditionally agree that Aspire may verify and authorise the source of funds when you register the source of funds with Aspire and when you use the Aspire Business Account Services.
  3. When you use the Business Account, you are authorising Aspire to act as your agent only with respect to holding, sending, or receiving available balance with PayrNet.
  4. You agree not to use the Business Account for illegal purposes, including but not limited to the purchase of any goods or services which are prohibited under applicable laws.
  5. All transactions processed by the Aspire Business Account Services will be screened for fraud. Aspire does not guarantee the prevention of fraudulent transactions, nor against resulting charges or fines.
  6. If Aspire detects any unusual or suspicious activities on the use of your Business Account, we reserve the right to suspend your access to the Business Account until we can investigate the activities.

VALIDITY, REPLACEMENT AND REFUND

  1. Unless terminated or cancelled, the Business Account shall be valid for a period of time to be determined by Aspire.
  2. Inactive business account: Where no payment transactions are made on a Business Account for a continuous period of time and there is a balance in the Business Account, we may notify you and give you the option of continuing to have the Business Account operational.

TAXES

  1. You hereby agree to pay or reimburse Aspire for any taxes, levies, imposts, deductions, charges, stamp, transaction and other duties and withholdings (together with any related interest, penalties, fines, and expenses in connection with them) in connection with the Business Accounts (including payments or receipts to the Business Accounts), however denominated, as may be in force and in connection with any future taxes that may be introduced at any time.

OTHER TERMS

PRIVACY AND DATA RETRIEVAL

  1. Aspire’s Privacy Policy (https://aspireapp.com/sg/privacy-policy) as may be amended, supplemented and / or substituted from time to time, is incorporated by reference into and forms part of these Terms and shall apply to all personal data that the Customer provides to Aspire, personal data that Aspire has obtained from any other sources or that arises from the Customer’s relationship with Aspire or any other Aspire entity. Aspire undertakes to protect customer data at any time using appropriate measures. Aspire assures that it shall not disclose personal information to users unless legally permitted or the Customer’s consent thereto has been given.
  2. Aspire is required to comply with all applicable laws, regulations, notices and guidelines issued by the Singapore government and regulatory authorities, including, but not limited to, the Payment Services Act (No. 2 of 2019) and in accordance with the relevant laws, regulations, notices and guidelines, you may be required to provide through either the Website or through the MyInfo service, any and all relevant data necessary to allow Aspire to establish and verify your identity, as well as the identity of all beneficial owners, directors or individuals with executive authority and individuals authorised to open and operate the Business Account) at the time of opening of the Business Account and on an ongoing basis thereafter.
  3. Aspire may, from time to time, request that you provide such data and updates to such data for the purpose of ensuring that Aspire is regulatorily compliant with applicable laws, regulations, notices and guidelines that may be in force. Further, Aspire may from time to time share such data with its Affiliates and third party partners. Aspire may also relate your data and your transactions to the Monetary Authority of Singapore and any such government or regulatory authority as may be required under any applicable laws, regulations, notices and guidelines.
  4. You hereby irrevocably and unconditionally agree that Aspire may collect and use such data for such purposes as are articulated in Cl 18.4.
  5. In the event that any technical or legal conditions change, Aspire hereby reserves the unconditional right to change its policies related to privacy and data retrieval described herein this Agreement.

REPRESENTATIONS & WARRANTIES

  1. By agreeing to these Terms, you expressly represent and warrant that you are legally entitled to accept and agree to these Terms. You represent and warrant that you have the legal right, authority and capacity to use the Business Account and abide by the Terms. You further confirm that all the information provided by you is true and factual.
  2. By using the Website, you agree that:
  3. You will only use the Business Account for lawful purposes;
  4. You will only use the Business Account for the purpose for which it is intended to be used;
  5. You will not impair the proper operation of the Website and the Website’s systems;
  6. You will not try to harm the Business Account in any way whatsoever;
  7. You will not copy, or distribute the Business Account or other content;
  8. You will keep secure and confidential your Business Account password or any identification we provide you which allows access to the Business Account;
  9. You will provide us with proof of identity as may reasonably be requested or required;
  10. You agree to provide accurate, current and complete information as required for the Business Account and undertake the responsibility to maintain and update your information in a timely manner to keep it accurate, current and complete at all times during the term of these Terms. You agree that we may rely on your information as accurate, current and complete. You acknowledge that if your information is untrue, inaccurate, not current or incomplete in any respect, we retain the right to terminate these Terms and your use of the Business Account at any time with or without notice;
  11. You will only use an access point or device which you are authorised to use to access the Business Account;
  12. You shall not used any means to defraud Aspire or enrich yourself, through any means, whether fraudulent or otherwise, through any event, promotion or campaign launched by Aspire to encourage new subscription or usage of the Business Account by new or existing customers;
  13. You agree that the Business Account is provided on a reasonable effort basis.

ACCEPTABLE USE

  1. By accepting these Terms, you hereby agree to assume full legal responsibility and liability for all loss and damage suffered by you, Aspire or any other third party as a result of a breach of these Terms.
  2. You agree not to use the Business Account or the Aspire Business Account Services in any way that violates any law, statute, ordinance or regulations.
  3. If Aspire suspects the use of the Business Account or the Aspire Business Account Services violates the acceptable use terms of these Terms, we reserve the unilateral right to suspend your Business Account indefinitely.

PROPERTY RIGHTS

  1. The property rights in the Website, and other materials and all other intellectual property rights related to the Aspire Business Account Services are owned by Aspire and its licensors. These Terms does not transfer any intellectual property rights with respect thereto and only provides you with a limited, non-exclusive and non-transferable licence to use the Business Account and all other materials made available by Aspire solely for the purpose of using the Aspire Business Account Services in accordance with these Terms and the applicable use instructions communicated to you via the Website from time to time.

CONFIDENTIALITY

  1. All information relating to Aspire and/or its Affiliates, designated as being confidential, and all information not expressly designated as being confidential, but which should reasonably be deemed confidential by reason of its nature or content is considered confidential information (“Confidential Information”). Each party to these Terms remains the owner of all the data made available to the other party. You hereby acknowledge that any information provided by Aspire on the Business Account and the Aspire Business Account Services, including any correspondence thereto, are considered Confidential Information.
  2. You hereby undertake to take all necessary steps to protect the confidential nature of all Confidential Information belonging to Aspire and / or its Affiliates, including only sharing the Confidential Information with parties which have a need to access such information in order to exercise rights and obligations in connection with the Business Account, and not to make the Confidential Information available to any third parties without prior written consent of Aspire except where necessary for the purposes of the Aspire Business Account Services.
  3. This obligation to maintain confidentiality does not extend to information generally available to the public, already in the possession of or known to you at the time of disclosure, if you and/or your employees are obliged by law to disclose such information, and if the information had been disclosed to you by a third party without any obligation of confidentiality.
  4. This clause shall remain in effect following the termination of these Terms, regardless of the grounds for termination.

DURATION

  1. These terms are entered into for an indefinite period until terminated by either party by giving one (1) months’ written notice to the other party.

TERMINATION

  1. Aspire reserves the right to terminate these Terms and terminate your use and access of the Business Account and Aspire Business Account Services immediately in part or whole in the following circumstances (which are not exhaustive):
  2. Your activities and use of the Business Account and Aspire Business Account Services are reasonably suspected by us to be in breach of any laws, regulations, guidelines or notices;
  3. You have materially breached any of the terms set out in these Terms;
  4. As we may in our sole and reasonable discretion deem fit.

LIABILITY

  1. Aspire shall be only liable for its own acts or omissions and not for the acts or omissions of third parties or its Affiliates.
  2. The total liability of Aspire under these terms to you is limited to an amount equal to the total of the fees paid by you to Aspire during the previous full calendar year.
  3. Aspire shall not be liable for breach of contract, tort or under any statutory legislation for any loss of profit, business, contracts, revenues, anticipated savings or damage to name; or for any special, indirect or consequential damages.
  4. Neither party excludes or limits its liability for gross negligence, death, fraud or personal injury.

INDEMNIFICATION AND FINES

  1. You hereby agree to indemnify and hold Aspire harmless from any claim (including legal fees) brought against Aspire by any third party as a result of your breach of the terms of these Terms, your breach of any applicable laws, guidelines or regulations, your violation of any rights of any third parties, or your misuse of the Website, the Business Account and/or the Aspire Business Account Services.
  2. This indemnity is in addition to and not in substitution for any other indemnity or right in favour of Aspire given by law or otherwise and shall not be affected or discharged by any thing.
  3. (i) Subject to clause 26.3(ii) below, Aspire shall be liable only for direct loss or damage which you suffer or incur arising from Aspire’s gross negligence or willful misconduct and shall not be liable for any other loss or damage of any nature.
    (ii)Aspire shall not in any event be liable for loss of business or profits or goodwill or any indirect or consequential or punitive or special loss or damage, in each case whether or not reasonably foreseesable, even if Aspire had been advised of the likelihood of such loss or damage and whether arising from negligence, breach of contract or otherwise.

LIMITATION OF LIABILITY

  1. Aspire makes no representation, warranty or guarantee as to the reliability, timeliness, quality, suitability, availability, accuracy or completeness of the Business Account, the Website, or the Aspire Business Account Services.
  2. Aspire does not represent or warrant that:
  3. The use of the Website, the Business Account or the Aspire Business Account Services will be secure, timely, uninterrupted or operate functionally with other operating systems or hardware;
  4. The Website, Business Account or Aspire Business Account Services will meet your requirements or expectations;
  5. Any stored data will be accurate, reliable or accessible;
  6. The quality of any services available to you would be within your expectations or requirements; or
  7. Any defects in the Website, Business Account or Aspire Business Account Services will be rectified
  8. All conditions, representations and warranties, whether express, implied, statutory or otherwise, including without limitation, any implied warranty of merchantability, fitness for a particular purpose, or non-infringement of third party rights, are here excluded and disclaimed to the extent permissible under Singapore law.

DISCLOSURE

  1. You authorise Aspire to retain Affiliates and Third Party Providers and / or any other agents to perform data processing, collection and other services which Aspire considers necessary or desirable. Aspire reserves the right to modify or terminate its arrangements with its agents at any time.
  2. Aspire agrees that information concerning the Business Account, you and transactions to be disclosed in accordance with this Clause 28 may be transmitted across national boundaries and through networks including those owned and operated by third parties.
  3. You authorise Aspire to disclose information concerning the Business Account, transaction or you where Aspire, in its sole and reasonable discretion, thinks it appropriate to do so.

FORCE MAJEURE

  1. Aspire shall have no liability for any damage, loss, expense or liability of any nature which you may suffer or incur, to the extent caused by an act of God, fire, flood, civil or labour disturbance, war or terrorism, pandemic, act of any governmental authority or any other act or threate of any authority (de jure or de facto), legal constraint, including attachments or other legal process, fraud or foreger (other than onthe part of Aspire), malfunction of equipment (including, without limitation, any computer or related software), except where such malfunction is primarily attributable to Aspire’s gross negligence in maintaining the equipment or software, failure of or the effect of rules or operations of any funds transfer system, inability to obtain or interruption of communications facilities, or any cause beyond the reasonable control of Aspire (including, without limitation, the non-availability of appropriate foreign exchange).

ASSIGNMENT

  1. This Agreement as constituted by the Terms of Use as modified from time to time may not be assigned by you without prior written approval of Aspire but may be assigned without your consent by Aspire.
  2. Any purported assignment by you in violation of this section shall be void.

NOTICES

  1. Aspire may give notice by means of a general notice on the Website, or by electronic mail to your email address in the records of Aspire, or by written communication sent by registered mail or pre-paid post to your address in the record of Apire. Such notice shall be deemed to have been given upon the expiration of 48 hours after mailing or posting (if sent by registered mail or pre-paid post) or 1 hour after sending (if sent by email).
  2. You may give notice to Aspire (such notice shall be deemed given when received by Aspire) by letter sent by courier or registered mail to Aspire using the contact details as provided in the Application.

GENERAL

  1. This Agreement shall be governed by Singapore law, without regard to the choice or conflicts of law provisions of any jurisdiction, and any disputes, actions, claims or causes of action arising out of or in connection with the Terms of Use, Business Account or Services shall be referred to the Singapore International Arbitration Centre (“SIAC”), in accordance with the Rules of the SIAC as modified or amended from time to time (the “Rules”) by a sole arbitrator appointed by the mutual agreement of the parties (the “Arbitrator”). If parties are unable to agree on an arbitrator, the Arbitrator shall be appointed by the President of SIAC in accordance with the Rules. The seat and venue of the arbitration shall be Singapore, in the English language and the fees of the Arbitrator shall be borne equally by the parties, provided that the Arbitrator may require that such fees be borne in such other manner as the Arbitrator determines is required in order for this arbitration clause to be enforceable under applicable law.
  2. No joint venture, partnership, employment, or agency relationship exists between you, Aspire or any Third Party Provider as a result of these Terms or use of the Services.
  3. If any provision of these Terms is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced to the fullest extent under law. This shall, without limitation, also apply to the applicable law and jurisdiction as stipulated above.
  4. The failure of Aspire to enforce any right or provision in the Terms shall not constitute a waiver of such right or provision unless acknowledged and agreed to by Aspire in writing.
  5. Aspire may vary the terms of this Agreement at any time in such manner as Aspire may choose and such changes may be notified to you by Aspire either in writing or by publication thereof or by any other means or manner as Aspire may select and such changes so notified will be binding on you, effective as of the date specified by Aspire.
  6. If you are not agreeable to such changes, you may within 14 days after Aspire has given such notice, notify Aspire.

Debit Card Terms and Conditions

INTRODUCTION, SCOPE, AND PARTIES

  1. The NIUM corporate debit cards are provided by Aspire FT Pte. Ltd, powered and issued by NIUM Pte. Ltd ("Aspire Cards"). The Aspire Card is a prepaid Visa co-branded corporate card issued by NIUM Pte. Ltd. (formerly known as INSTAREM Pte. Ltd.) ("NIUM"). NIUM is regulated by the Monetary Authority of Singapore under RA No. 01454 and is a major payment institution under the Payment Services Act No. 2 of 2019. Consumer Advisory – Aspire FT Pte. Ltd. is currently exempted by the Monetary Authority of Singapore from holding a payment institution licence to provide payment services under the Payment Services Act (No. 2 of 2019). Aspire FT Pte. Ltd. continues to provide such services pursuant to the Payment Services (Exemption for Specified Period) Regulations 2020. Customers are advised to carefully read the Terms & Conditions before acceptance.
  2. These Term and Conditions ("Terms") constitute a legal agreement which apply to the entire offer within the framework of the contractual relationship between Aspire, NIUM and the Customer, and shall apply to the Customer's use of the Aspire Card and all related services (the "Aspire Card Services").
  3. The activation of the Aspire Card constitutes your acceptance and agreement to be bound by these Terms, operation guidelines, cardholder promotional terms & conditions and any other related terms and conditions or amendments to the foregoing as may be issued by NIUM and Aspire from time to time. Your continued use of the Aspire Card after any such changes, whether or not reviewed by you, shall constitute your consent and acceptance of the revised Terms and Conditions.

DEFINITIONS

  1. ACCOUNT means each and any of your accounts maintained with Aspire which you have designated as the account for the settlement of transactions;
  2. AGREEMENT means this agreement as may be varied from time to time;
  3. ASPIRE means Aspire FT Pte Ltd, its successors and assigns;
  4. CARD means an Aspire debit card powered and issued by NIUM pursuant to this Agreement and any substitution, replacement or renewal thereof;
  5. CARD LIMITS has the meaning as defined in Clause 5;
  6. COSTS include costs, charges, and expenses including legal costs (on a full indemnity basis);
  7. NETWORK means a major national or international network such as American Express, Mastercard, Visa, RuPay, JCB, Discover, UnionPay or any other global or local network that switches transactions between merchants and users according to its own standards and protocols;
  8. NIUM means NIUM Pte Ltd., its successors and assigns;
  9. PARTIES means you, NIUM and Aspire;
  10. PIN means any personal identification number, password, login identification number, customer identification number, electronic identification signatures or codes chosen by or issued to you;
  11. SERVICES refers to any services Aspire may provide to you including but not limited to card services, call centre services, electronic or personal internet services or mobile services;
  12. STATEMENT means a statement of account issued by Aspire reflecting the transactions.
  13. Words importing the singular include the plural and vice versa.
  14. Words referring to the masculine also refer to the feminine and neuter genders.
  15. Reference to a person includes references to a company, association or institution.
  16. Reference to a Clause is to a clause of this Agreement.
  17. The headings to the Clauses are for reference only and are not intended to be taken into consideration in the interpretation of this Agreement.

USE OF YOUR ASPIRE CARD

  1. The Aspire Card is a debit card which may be used to make online payments, and purchase goods and services online.
  2. Once registration has taken place and the requisite Know Your Client checks have taken place and been verified, funds may be debited into the Aspire Card and used.
  3. Aspire's Privacy Policy ( https://aspireapp.com/sg/privacy-policy ) as may be amended, supplemented and / or substituted from time to time, is incorporated by reference into and forms part of these Terms and shall apply to all personal data that you provide to Aspire, personal data that Aspire has obtained from any other sources or that arises from the your relationship with Aspire or any other Aspire entity. Aspire undertakes to protect customer data at any time using appropriate measures. Aspire assures that it shall not disclose personal information to users unless legally permitted or your consent thereto has been given.
  4. Aspire shall not charge you fees to load your Aspire Card when using a credit or debit card unless we are allowed to do so. If we do, the fees we charge for you to load your Aspire Card using a credit or debit card will be provided to you in a fee schedule before we charge the said fees to you.
  5. When you receive your card, you may use the Aspire Website (https://aspireapp.com/sg/ ) to activate your Aspire Card. Due to security reasons, the Aspire Card sent to you is not activated and cannot be used prior to activation. Card activation is compulsory prior to usage of the Aspire Card.
  6. You, and no one else, may use the Aspire Card to effect transactions on your Aspire Card, subject to the terms and conditions of this Agreement.
  7. The Aspire Card remains the property of Nium Pte. Ltd. at all times. At Aspire's or NIUM's request, which may be made at any time, you must immediately return the Aspire Card cut in half to Aspire or NIUM.
  8. You may not use the Aspire Card to make online payments in excess of the balance of funds available on your Aspire debit account. The balance on your Aspire debit account will be reduced by the amount of each online payment you make. If any payment is in excess of the available amount on your Aspire debit account or the card limits in force from time to time, the transaction will not go through and shall be declined.
  9. You shall, under no circumstances and whether with or without your knowledge, use or allow the use of the Aspire Card to effect any transaction which would contravene the laws of any jurisdiction. You may not use the Card in countries subject to sanctions (which mean any economic sanctions, laws, regulations, embargoes or restrictive measures administered, enacted or enforced from time to time including by (i) the Monetary Authority of Singapore; (ii) the European Union; (iii) the United Nations; or (v) any other relevant sanctions authorities.).
  10. You will not be able to use the Aspire Card for any transactions for cash, including but not limited to cash back, cash from a bank, cash withdrawals from ATM facilities in Singapore and where such withdrawal would contravene the laws of such jurisdictions, and money orders.
  11. The Aspire Card is not a guarantee card, charge card or credit card.
  12. Aspire reserves the right to terminate, suspend or restrict your Aspire Card or PIN on reasonable grounds relating to:
  13. The security of your Aspire Card;
  14. Your Aspire Card number or PIN; and
  15. The suspected unauthorized or fraudulent use of your Aspire Card or PIN.
  16. Aspire is not responsible for the goods or services purchased using the Aspire Card and are not liable for the consequences of the failure of any merchant to honour the Aspire Card.

TRANSACTIONS

  1. You undertake and agree that your use of your Aspire Card, your card number or PIN constitutes your authorisation and consent to a payment transaction.
  2. You are not able to stop a transaction after it has been transmitted to us by giving your consent to the transaction, or once you have given your consent to a merchant for a pre-authorised payment.
  3. We may refuse a transaction or suspend or terminate the right to top up your Aspire Card.
  4. We may invoke Clause 4.3 for the following (but not limited) reasons:
  5. If the transaction causes you to go over the available balance of your Aspire debit account;
  6. If the transaction causes you to go over your Aspire Card limits;
  7. If Aspire reasonably believes that we have to do so in accordance with any applicable laws, rules or regulations in force from time to time.

CARD LIMITS

  1. Aspire may set card limits ("Card Limits") with respect to the use of the Aspire Card and may vary the Card Limits without notice to you. The Card Limits will apply to all transactions.
  2. Notwithstanding any Card Limits that may be prescribed and notwithstanding Cl 3.8, Aspire may in its sole and absolute discretion approve any proposed transaction and allow the Card Limit to be exceeded, even in the absence of any request from you, provided always that you undertake to forthwith pay such amount in excess of the Card Limit.
  3. Where Aspire in its sole and absolute discretion, allows any amount in the Aspire Card to be overdrawn for whatever reason, you shall immediately pay on demand such amount overdrawn with interest, as may be prescribed by Aspire from time to time in its sole discretion, on the same amount overdrawn.
  4. In calculating whether any of the Card Limits has been exceeded, Aspire may take into account the amount of any transaction not yet debited to the Aspire Card and of any authorisation given by Aspire to a third party in respect of a prospective transaction.
  5. CARD BALANCE AND TRANSACTIONS
  6. You acknowledge and agree that you are solely responsible for ensuring that sufficient available balance is stored in the Aspire Card.
  7. Aspire and NIUM shall not be liable for any shortfall in the available shortfall and you may not request Aspire and NIUM to make up for any such shortfall.
  8. You may use the Aspire Website to check the available balance.
  9. You may access your transaction data via the Aspire Website using your login credentials.
  10. The single transaction limit of the Aspire Card at any given time is SGD 25,000 as at the date of these Terms. NIUM may vary the transaction limit from time to time upon notification to Aspire.
  11. NIUM shall authorise a transaction only if there is sufficient available balance in the Aspire Card to cover such transaction and the relevant Aspire Card transaction limit has not been exceeded. If a transaction has been processed despite there being insufficient available balance, you shall be liable to NIUM for the shortfall and any other third party on recovering or attempting to recover such shortfall from you.
  12. Notwithstanding Clause 6.6, NIUM may in its sole discretion, without providing any reason and without any liability to you or Aspire, refuse to authorise any transaction.
  13. You are fully responsible for ensuring that you only make payments to persons or entities in connection with commercial transactions in compliance with any applicable laws and regulations. At no time and under no circumstances shall you use the Aspire Card or any services provided by NIUM and Aspire in connection with any activities listed in Appendix A or any other illegal activities including but not limited to sanctions, money-laundering, fraud and the funding of terrorist organisations. If you are in doubt as to the legality of a supply or purchase, you should not continue with such payment.
  14. You are deemed to have consented to all transactions made through the Aspire Card and you may not stop or reverse a payment on any translation after it has been settled to the relevant merchants.
  15. If NIUM or Aspire receives a transaction for processing a currency other than in SGD, we may convert such SGD currency at the applicable exchange rates as determined by NIUM on the date such transaction is processed by NIUM.

EXPIRATION

  1. Your Aspire Card shall expire on the date printed on the Aspire Card. You are not able to use the Aspire Card after the date of expiry and you will not be able to reload it.
  2. We will inform you prior to the expiration of your Aspire Card. You undertake to inform us if you do not wish to have your Aspire Card renewed by written notice.
  3. If no action is taken on your part in relation to the automatic renewal of your Aspire Card, you are deemed to have agreed to the renewal of the Aspire Card and the terms of this Agreement shall continue to apply.
  4. If you request that your Aspire Card not be renewed, you will not be able to use your Aspire Card after the expiry date. You can redeem the outstanding balance in your Aspire debit account after the expiration date subject to the following clause 8.

REDEMPTION OF FUNDS

  1. You are able to redeem all or part of the balance of your Aspire debit account for a period of 6 years after the expiration date shown on your Aspire Card.
  2. Aspire shall transfer any redeemed funds into a bank account in your name, subject to proof of your ownership of the said account.

HOLD ON FUNDS

  1. Aspire may debit or place a hold on the balance on your Account for the amount of a transaction either on the day it is presented to Aspire for payment (including without limitation, a presentation by electronic means) or on the day that Aspire receives notice of the transaction, whichever occurs first. If a merchant requests for an authorisation of a transaction, Aspire may place a hold on your Account for the amount of the transaction. If the amount of the transaction is posted to the Account before the hold expires, the balance available to you in the Account shall be reduced by the amount of the transaction that Aspire has placed on hold. You may not stop payment on a transaction or use any amount placed on hold. For the avoidance of doubt, the amount placed on hold in respect of any transaction shall not be treated as conclusive of the amount of the transaction that would eventually be debited to the Account and in particular, for transactions denominated in a currency other than Singapore dollars and shall not be deemed that Aspire has converted the transaction into Singapore dollars on the day that the amount was placed on hold. It is hereby expressly agreed between the Parties that Aspire shall be at liberty to convert such amount into Singapore dollars at such time and at such rate of exchange as Aspire may determine in accordance with its usual practice.
  2. Aspire shall have absolute discretion to place such amounts as are referred to in Clause 9.1 on hold for such periods as it deems fit. Upon the expiry of such periods as it determines, Aspire shall debit such amounts on hold to the Account if the transactions in connection of which the amounts were placed on hold were presented to Aspire for payment and Aspire shall credit such amounts placed on hold back to the Account if the transactions in connection of which the amounts were placed on hold were not presented to Aspire for payment, provided always that Aspire shall have the discretion to continue to place such amounts on hold if it is of the opinion that such transactions would be presented for payment within a reasonable time. For the avoidance of doubt, Aspire's right to debit the Account in respect of any transaction shall not be limited to the amount that was placed on hold in connection with that transaction. It is hereby expressly agreed that Aspire shall be entitled to debit the Account for the full amount of the transaction. Where the amount of any transaction is denominated in a currency other than Singapore dollars, Aspire may decide in its sole discretion whether to hold that amount in that foreign currency or Singapore dollars. It is hereby further agreed that Aspire shall have the right to increase at any time the amount that it would hold in respect of any transaction which is denominated in a currency other than Singapore dollars if Aspire is of the view that the amount initially held when converted into that foreign currency would not be sufficient to satisfy payment of that transaction in full.
  3. You shall not use any of the amount on hold, notwithstanding the other terms and conditions governing the Account.
  4. Aspire shall only credit the Account with refunds made by any merchant or establishment in relation to any transaction after Aspire receives a properly issued credit voucher.

ASPIRE'S DISCRETION

  1. You hereby agree that Aspire is entitled, at any time in its sole and absolute discretion, and without giving any prior notice or reason, to refuse to approve any proposed transaction, notwithstanding that the Card Limit would not be exceeded or if the balance in the Aspire Account would not be negative.
  2. Aspire is entitled, in its sole and absolute discretion, without prior notice and without giving any reason, to:
  3. Suspend your right to use the Aspire Card entirely or in respect of specific transactions; and / or
  4. Refuse to re-issue, renew or replace the Aspire Card, without, in any case, affecting your obligations under this Agreement which will continue in force and there will be no refund of any fees paid if the right to use the Aspire Card is so suspended by Aspire or if the Aspire Card is not so renewed or replaced.
  5. Without prejudice to the other provisions of this Agreement, Aspire reserves the right, at any time, in its sole discretion and without prior notice and without giving reasons, to introduce, amend, vary, restrict or withdraw all or any of the benefits, services, facilities and privileges in respect of or in connection with the use of the Aspire Card and/or this Agreement.

CHARGES

  1. Aspire may at its discretion, charge and debit to the Account, the following fees:
  2. Joining fee or annual fee for the issuance, maintenance and renewal of the Aspire Card;
  3. Replacement fee for the Aspire Card;
  4. Administrative fee for the production or retrieval of any documents of and relating to the Accounts and/or Aspire Card;
  5. Any fees and/or charges for any services provided or action taken by Aspire in connection with the Account and/or Card.
  6. The amount of fees and charges payable by you shall be decided by Aspire and may change from time to time.
  7. All charges payable under this Agreement are payable as well as before judgment.
  8. You are liable to pay for all GST, all other taxes imposed or payable in respect of any amount incurred on or debited to the Account and Aspire is entitled to debit the amount of such tax(es) to the Account.
  9. Aspire is entitled to debit the Account at any time in respect of any sum howsoever due and owed to Aspire by you, whether in respect to a transaction, fees or charges or otherwise, and notwithstanding that the Account would be overdrawn as a result.

LOSS OR THEFT OF ASPIRE CARD / DISCLOSURE OF PIN

  1. You must safeguard the Aspire Card and must ensure that your PIN is not disclosed to any person, and you are solely responsible at all times for the security of the Aspire Card, and for all transactions and charges incurred on the Aspire Card.
  2. You undertake to ensure that you:
  3. Sign your Aspire Card as soon as you receive it and keep it safe;
  4. Do not reveal or disclose your PIN and never write down your password(s), PIN or any other security information you have given Aspire;
  5. Only release the Aspire Card, card number or PIN to make a transaction.
  6. If your Aspire Card is lost or stolen or if you believe that the Aspire Card, card number or PIN may be misused, you must:
  7. Immediately, and without undue delay, notify and give Aspire written notice thereof;
  8. Assist in the recovery thereof or stop the use of the Aspire Card;
  9. Stop using the Aspire Card, card number or PIN immediately.
  10. You must also notify Aspire immediately if the Aspire Card is damaged or not working properly or if the Aspire Card has been retained by an ATM.
  11. Aspire may, in its sole and absolute discretion, issue a replacement Aspire Card or a new PIN upon such terms and conditions as we deem fit. We may, in our discretion, charge a fee for replacement cards.
  12. If your Aspire Card has been used without your knowledge or permission, or is lost, stolen or if you think your Aspire Card may have been misused, we may disclose to law enforcement agencies any information we believe could be relevant.

EXCLUSION OF LIABILITY

  1. Aspire is not responsible for products, goods or services supplied by any merchant, establishment, or any third party for the quality or performance of any contract or quality of any product, goods, or services supplied pursuant to or in relation to any transaction. You are to seek redress directly from such merchant, establishment or third party in respect of such products, goods or services.
  2. Your liability owing to Aspire is not affected by any dispute or counterclaim or right of set off which you may have against such merchant, establishment or third party. In particular, Aspire shall be entitled to debit the Aspire Card and / or Account in respect of any transaction notwithstanding the incomplete or non-performance of any contract, or the incomplete or non-delivery of or any defect in any product, good or service obtained pursuant to the transaction.
  3. You will not hold Aspire, NIUM Pte Ltd or any card brands in the Network responsible for the availability, use, act, omission, loss or damage suffered howsoever arising from and in connection with the use of any medical, legal or transportation service.
  4. Aspire is not liable for any loss you may incur in connection with the use of the Aspire Card howsoever arising.
  5. Aspire shall not be responsible or liable in any way to you for any inconvenience, loss, damage, cost or expense of any nature or embarrassment or injury suffered or incurred by you or any third party resulting from, arising out of or in connection with any of the following:-
  6. if any merchant, establishment, or third party refuses to accept or honour the Aspire Card for any reason;
  7. any refusal by Aspire to authorise or approve any transaction;
  8. if you are deprived of the use of any services, machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) as a consequence of any action by Aspire or any merchant, establishment, or third party;
  9. if Aspire is unable to perform its obligations under this Agreement due, directly or indirectly, to the failure, defect or malfunction of any machine, system of authorisation, data processing or communication system or transmission link or any industrial dispute, war, Act of God or anything outside the control of Aspire, its servants or agents;
  10. for any injury to your credit, character and reputation in and about any repossession of the Aspire Card or any request for its return;
  11. any damage to or loss of or inability to retrieve any data or information that may be stored in any microchip or circuit howsoever caused or any failure in the performance or function or breakdown or disruption of any of the Aspire's computers (whether hardware or software), machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) maintained by, used for, by Aspire or in connection with Aspire's business or otherwise whatsoever, including but not limited to the failure or inability of such computers, machinery, equipment, products and systems or any one or more of them to accept, recognise, store, process and/or transmit dates or data with respect to dates; and
  12. the unauthorised use of the Aspire Card and/or Account or any facilities in connection therewith, any transaction effected by an unauthorised person
  13. Without prejudice to the generality of the provisions of this Clause 13, Aspire is not liable in any way to you for any other loss, damage, cost or expense of any nature arising out of or in connection with the use of the Aspire Card and/or this Agreement.

REFUNDS AND CHARGEBACKS

  1. If you wish to receive a refund after conducting a transaction with a merchant via the Aspire Card ("Refunds"), you should approach the merchant directly with your request. If the merchant in its discretion decides to process your request for Refunds, NIUM shall credit Aspire's account with the Refunds after NIUM has received the relevant amount from the merchant.
  2. If you wish to receive a refund from a merchant in respect of a disputed transaction ("Chargebacks"), you should approach Aspire with your request. NIUM may, in their sole discretion, file a formal dispute with such merchant on your behalf upon request by Aspire provided you comply with Aspire's request for information and assistance (including providing Aspire with all relevant documents). If the dispute is resolved in Your favour by VISA, NIUM shall credit Aspire's account with the Chargebacks amount upon NIUM's receipt of such amount from VISA. You acknowledge and agree that the decision of VISA regarding the validity and value of any Chargebacks is valid and binding. NIUM shall not be obliged to investigate or defend the validity and/or value of any Chargeback.
  3. You acknowledge and agree that the amount of any Refund or Chargebacks received pursuant to any transaction made under the Card may be different to the amount originally processed on the Aspire Card due to exchange rate fluctuations or the amount received with respect to any Refunds or Chargebacks may only be a partial refund of the original amount.

VARIATION OF THIS AGREEMENT

  1. Aspire may vary the terms of this Agreement at any time in such manner as Aspire may select and such changes may be notified to you by Aspire either in writing or by publication thereof or by any other means or manner as Aspre may select and such changes so notified will be binding on you, effective from the date specified by Aspire.
  2. If you do not accept any such changes, you may, within 7 days after Aspire has given such notice, terminate the use of the Aspire Card.
  3. If you retain or use the Aspire Card after Aspire has given notice of any changes in this Agreement, you are deemed to have accepted and agreed to such changes without reservation.

CONSENT TO DISCLOSURE OF INFORMATION

  1. You hereby agree that Aspire is entitled, in its absolute discretion, at any time and without notice or liability, to disclose the particulars of the Account, the Aspire Card and any transactions, any information relating to you, and your use of the Aspire Card to:
  2. any merchant or establishment which accepts the Aspire Card;
  3. NIUM Pte Ltd;
  4. any Network member;
  5. any of the Aspire's related companies or corporations, representative offices, branches (wheresoever situate), its agents, servants, correspondents, independent contractors and/or associates;
  6. any bank or financial institution;
  7. any party involved in facilitating, effecting or processing the transactions;
  8. any person or organisation providing electronic or other services, for the purpose of assessing, engaging, obtaining, operating, maintaining and upgrading the services (including any investigation of discrepancies, errors or claims);
  9. any person or organisation engaged for the purpose of performance of services or operational functions where these have been outsourced;
  10. any agent for the purpose of printing personalized cheque, statements, advices, correspondences or any other related document;
  11. any information garnering or processing organisation or consultant or entity conducting surveys or analysis or research or developing system applications for Aspire;
  12. any person for the purpose of marketing or promoting any services or products whether by Aspire of any third party;
  13. the police or any public officer conducting an investigation;
  14. any government or quasi-governmental agency or authority or court of the jurisdiction where the Aspire Card is used;
  15. any person for the purpose of collecting or recovering on Aspire's behalf, or for securing for your benefit, or for the repayment on your behalf, any sums of money owing to Aspire by you;
  16. any credit bureau of which Aspire is a member or subscriber or credit reference agents;
  17. auditors and professional advisors including lawyers and receiver appointed by Aspire;
  18. any person authorised to operate the Account or any guarantor or security provider of the Account;
  19. any rating agency, business alliance partner, insurance company, insurer, insurance broker or direct or indirect provider of credit protection; and
  20. any other person Aspire considers it in its interest to make such disclosure, (and each of the foregoing persons similarly may disclose to the Aspire and to each other) full particulars of the Account, the Aspire Cards, the transaction records and statements, and any other information in relation to you, the Aspire Cards and/or your use of the Cards where such disclosure is required by law or where Aspire deems appropriate, necessary or desirable in connection with its provision of services and the enforcement of any rights and/or performance of any obligation in respect of or in connection with the Account and/or this Agreement or whenever Aspire considers it in its interest to make such disclosure.
  21. You hereby agree that as Aspire Card is a co-brand card, all personal data provided by you for the co-brand card and information and details of your Account which may be issued to you and transactions made thereunder may be shared by Aspire with NIUM to enable NIUM and its agents and authorised service providers to collect, use and disclose your personal data to any person the partner deems appropriate or necessary for the purposes of:- (i) processing this application and providing services associated with the co-brand card; (ii) offering, marketing or promoting any promotion or offer relating to the co-brand card; (iii) administering any benefit, privilege and term applicable to the co-brand card; offering, marketing or promoting any product and/or service provided by the partner; and (v) conducting research or analysis relating to any product and/or service provided by the partner, whether conducted by the partner or jointly with any other party. (c) You acknowledge and agree that Aspire and the partner will be separately collecting, using and disclosing your personal data and each party shall only be responsible for its own collection, use or disclosure of your personal data, and shall not be liable for the other party's handling or use thereof. You agree to directly address any queries, access or correction requests, or complaints in relation to the handling of the personal data of you to the relevant party.

TERMINATION

  1. Aspire may suspend or terminate these Terms and your use of the Aspire Card at any time without having to give any reason to you. NIUM may suspend or terminate yourAspire Card at any time without having to give any reason and upon written notice to Aspire. Unless there are exceptional circumstances, we shall give you 1 months' written notice prior to terminating this your Card.
  2. You may terminate this Agreement by contacting us and giving us 30 days written notice.
  3. The rights conferred on NIUM and Aspire under these Terms shall survive termination.
  4. GENERAL
  5. Aspire shall be entitled (but not obliged), at its sole discretion, to rely and act on any communication, requests or instructions which Aspire in its sole opinion believes originates from you (whether orally or in writing and whether in person or over the telephone or by facsimile or other means of telecommunication and whether genuine or with or without your consent or authority), and any action taken by Aspire pursuant thereto shall bind you and Aspire shall not be liable to you for any loss or damage incurred or suffered by it as a result of such action. Aspire shall not be under any duty to verify the identity of any person communicating purportedly as or on behalf of you.
  6. You must indemnify and keep Aspire fully indemnified against all claims, demands, action, proceedings, losses, damages, costs and expenses of any nature (including legal costs on an indemnity basis) suffered, incurred or sustained by Aspire, directly or indirectly, by reason of or in connection with this Agreement, including without limitation:
  7. any use or misuse of the Aspire Card including, without limitation, all transactions regardless of whether or not authorisation has been sought and/or given; and/or
  8. breach of any provision of this Agreement by you; and/or
  9. the enforcement or protection of Aspire's rights and remedies against you under this Agreement; and/or
  10. an insufficiency of available funds in the Account to meet a request for payment of any transaction or settlement of any other liability hereunder. In this respect, Aspire may in its discretion allow the Account to be overdrawn and charge such payment or settlement to the Account together with any interest thereof as Aspire may deem fit; and/or
  11. any change in any law, regulation or official directive which may have an effect on the Account and/or this Agreement.
  12. Aspire may in its absolute discretion at any time and without prior demand or notice combine or consolidate any and all account(s) maintained by you with Aspire and/or set-off or transfer any sum standing to the credit of any or all such account(s) in or towards the discharge or payment of any and all sums due to Aspire from you on any other account including the Account designated hereunder or under this Agreement and Aspire shall be entitled to exercise this right notwithstanding that the balance due to Aspire on any account is not overdue and/or the use of the Aspire Card or the Account has not been closed or terminated.
  13. Aspire is entitled to apply any and all payments it receives from or for your account in such manner and order and to such transaction as it may determine or select regardless of any specific appropriation made by you or any person making such payment(s).
  14. If any one or more of the provisions of this Agreement or any part thereof is declared to be illegal, invalid or unenforceable under any applicable law, it will not affect the legality, validity or enforceability of the remainder of this Agreement in such jurisdiction or the legality, validity or enforceability of this Agreement in any other jurisdiction.
  15. This Agreement covers the use of the Aspire Card issued by Aspire, which is additional to those governing the operation of the Account and any other agreements that you have with Aspire. In the event of inconsistency, this Agreement shall prevail with respect to the use of the Aspire Card.
  16. The remedies under this Agreement are cumulative and are not exclusive of the remedies provided by law.
  17. No forbearance or failure or delay by Aspire in exercising any right, power or remedy is to be deemed to be a waiver or partial waiver thereof on the part of Aspire; and no waiver by Aspire of any breach of this Agreement on your part is to be considered as a waiver of any subsequent breach of the same or any other provision of this Agreement.
  18. This Agreement is not assignable or transferrable by you but may be assigned or transferred by Aspire.

Conclusiveness of Documents

  1. Any document relating to any transaction bearing your signature shall be conclusive evidence of the fact that the transaction therein stated or recorded was authorised and properly made or effected by you.
  2. If you do not notify Aspire in writing of any inaccuracy or error in any transaction statements / records within 14 day of the receipt or deemed receipt of such records / statements, it shall constitute conclusive evidence that:-
  3. (i) every transaction stated therein has been effected by you; and
  4. (ii) every charge stated therein, every amount debited therein has been validly and properly incurred or debited in the amount stated therein.
  5. Nothing in this Clause 17 shall prevent Aspire from rectifying any errors, omissions in any statement, records or advice and any such amended statement, records or advice shall be binding on you.
  6. Aspire may serve any writ of summons, statement of claim, statutory demand, bankruptcy application or other legal process or document in respect of any action or proceedings under this Agreement required by any relevant law, including without limitation, the rules of court or other statutory provisions, to be served on you by personal service, by leaving the same at, and/or sending the same by ordinary post, to the last known address (whether within or outside Singapore and whether such address is a Post Office Box or is a place of residence or business) as may be provided or disclosed to Aspire or its solicitors. Such legal process or document is deemed to have been duly served on you even if it is returned undelivered:- (a) on the date of delivery, if sent by hand and/or left at the last known address; or (b) on the date immediately following the date of posting, if sent by post. Service of such legal process is deemed to be good and effective service of such legal process on you and nothing in this Agreement shall affect Aspire's right to serve legal process in any other manner permitted by law.
  7. A person who or which is not a party to this Agreement shall not have any right under the Contracts (Rights of Third Parties) Act (Chapter 53B) to enforce any provision of this Agreement.
  8. This Agreement is governed by and construed in accordance with Singapore law. You hereby submit irrevocably to the exclusive jurisdiction of the Courts of Singapore with respect to any claim or dispute concerning or arising from this Agreement or any transactions.

Aspire Card Promotions Terms & Conditions

Updated: 8th April 2020

CASHBACK PROMOTION

  1. The Aspire Card cashback promotion (the "Cashback Promotion") allows you to earn up to 1% cashback of monies spent by you on online marketing and Software as a Service transactions through your Aspire Card on a monthly basis ("Qualified Spend"). You are entitled to earn up to 1% cashback if you are eligible for the Cashback Promotion and if you have met the relevant qualifying requirements and in accordance with these Terms & Conditions.
  2. This Cashback Promotion is valid until 31st December 2020, or such other period(s) as may be extended or determined by Aspire FT Pte Ltd ("Aspire") in its sole and absolute discretion ("Cashback Promotion Period").

ELIGIBILITY

  1. To qualify for the Cashback Promotion ("Eligible Cardmembers"), you must:
  2. Apply to open an Aspire Business Payment Account and Aspire Card;
  3. Have your Aspire Card approved during the Cashback Promotion Period;
  4. Be invited to participate in the Cashback Promotion by Aspire; and
  5. Have your Aspire Business Payment Account and Aspire Card in good standing with Aspire during the Cashback Promotion Period.

CASHBACK

  1. Eligible Cardmembers are entitled to receive cashback on the quantum of the Qualified Spend for transactions made on the Aspire Card, on the terms and conditions set out herein.
  2. "Qualifying Spend" means expenses transacted on the Aspire Card that are made at qualifying merchants and which are incurred to purchase online marketing and software as a service* services in order to qualify for the Cashback Promotion. You may refer to the full list of Qualifying Merchants (which Aspire retains the sole and absolute discretion to change from time to time) by accessing the list on Aspire's Website (https://aspireapp.com/sg/)
  3. Eligible Cardmembers are entitled to receive cashback during the Promotion Period in accordance with the following reward table:

* Where any doubt exists as to whether a transaction qualifies as "online marketing" and "software as a service" for the purposes of the Cashback Promotion, Aspire shall be the sole and final arbiter of any decision as to the qualification of the transaction and will entertain no other disputes, complaints or disagreements thereto.

    Reward TableTotal Expenditure transacted on Aspire Card (per month)Cashback % (Only on Qualified Spend)Payout Cap< SGD $5,0000.25%n.a.>SGD $5,0001%SGD $1,000**
Examples:

Where Total Expenditure (including Qualified Spend and other spending) incurred on the Aspire Card for one month is less than S$5,000 , 0.25% Cashback is awarded on the total of all transactions made on the Aspire Card that is incurred on the Qualified Spend of online marketing and software as a service:

An Eligible Cardmember who spends S$3,000 on online marketing and software as a service, and S$1,000 on inventory expenses for a Total Spend of S$4,000 from 1st January - 31st January 2020 is entitled to 0.25% cashback and is entitled to receive receive S$7.50 cashback for the month of January 2020;

Where Total Expenditure (including Qualified Spend other spending) incurred on the Aspire Card for one month is more than S$5,000, 1% Cashback is awarded on the total of all transactions made on the Aspire Card that is incurred on the Qualified Spend of online marketing and software as a service:

An Eligible Cardmember who spends S$5,000 on online marketing and software as a service, and S$1,000 on inventory expenses for a Total Spend of S$6,000 from 1st January - 31st January 2020 is entitled to 1% cashback and is entitled to receive receive S$50.00 cashback for the month of January 2020;

  1. Payout Cap: Notwithstanding Clause 5 to the Cashback Promotion Terms and Conditions herein, an Eligible Cardmember who has met the maximum Payout Cap on a monthly basis during the Promotion Period may only receive a maximum cashback of up to S$1,000.00 for the relevant month, regardless of the quantum of the Qualified Spend actually incurred. Aspire reserves the right to unilaterally amend the Payout Cap at any time in its sole and absolute discretion and without giving any reasons to you. Aspire will inform customers in good time of any amendments to the Payout Cap.
  2. Cashback earned by you will be credited to your Aspire Business Payment Account following the month that the Qualifying Spend is made.

GENERAL TERMS

  1. Aspire reserves the right at any time without giving any reason or notice to you to deduct, withdraw or cancel any Cashback awarded to you without liability. You will not be entitled to any payment or compensation whatsoever in respect of such deduction, withdrawal or cancellation.
  2. Aspire's decision on all matters relating to the Cashback Promotion shall be final. No correspondence or claims will be entertained.
  3. In the event of any inconsistency between these Terms and Conditions and any brochure, marketing or promotional material relating to the Aspire Business Account, these Terms and Conditions shall prevail.
  4. Aspire may vary these Terms and Conditions or suspend or terminate the Cashback Promotion without any notice or liability to any party.
  5. All Aspire Card cardholders consent under the Personal Data Protection Act (Cap 26, 2012) to the collection, use and disclosure of their personal data by / to Aspire and such other third party as Aspire may reasonably consider necessary for the purpose of the Cashback Promotion

REFERRAL PROMOTION

  1. The Aspire Card referral promotion (the "Referral Promotion") entitles cardholders who successfully refer eligible customers to the Aspire Card (the "Referrer"), and those who are referred (the "Referred Customers") to earn rewards under the Referral Promotion. The Referrer and Referred Customer are each entitled to a referral award of SGD$50.00 if eligible for the Referral Promotion and if the relevant terms set out in these Terms & Conditions are met.
  2. This Referral Promotion is valid until 31st December 2020, or such other period(s) as may be extended or determined by Aspire in its sole and absolute discretion ("Referral Promotion Period").

ELIGIBILITY

  1. The Referral Promotion is void where such referral promotions are prohibited by any force of law, regulation or rule where applicable.
  2. To qualify for the Referral Promotion as a Referrer ("Eligible Referrer"), you must:
  3. Apply to open an Aspire Business Payment Account and Aspire Card;
  4. Have your Aspire Card approved during the Referral Promotion Period;
  5. Be invited to participate in the Referral Promotion by Aspire; and
  6. Have your Aspire Business Payment Account and Aspire Card in good standing with Aspire during the Referral Promotion Period.
  7. To qualify for the Referral Promotion as a Referred Customer ("Eligible Referred Customer"), you must:
  8. Not have had an existing Aspire Business Payment Account and Aspire Card at the time of the referral;
  9. Have been validly referred, in good faith, by a Referrer of good standing;
  10. Apply for your Aspire Card and have it approved under the Referral Promotion during the Referral Promotion Period; and
  11. Make one valid transaction on your Aspire Card after being referred by the Referrer.

QUALIFIED REFERRALS

  1. The referral reward will be credited to Eligible Referrers and Eligible Referred Customers upon verification by Aspire that a qualified referral has taken place.
  2. Referrers must respect the spirit of the Referral Promotion by refraining from engaging in dishonest practices, including but not limited to creating fake accounts or harassing potential referral sources.

GENERAL TERMS

  1. Aspire reserves the right at any time without giving any reason or notice to you to deduct, withdraw or cancel any referral award awarded to you without liability. You will not be entitled to any payment or compensation whatsoever in respect of such deduction, withdrawal or cancellation.
  2. Aspire's decision on all matters relating to the Referral Promotion shall be final. No correspondence or claims will be entertained.
  3. In the event of any inconsistency between these Terms and Conditions and any brochure, marketing or promotional material relating to the Aspire Business Payment Account, these Terms and Conditions shall prevail.
  4. Aspire may vary these Terms and Conditions or suspend or terminate the Referral Promotion without any notice or liability to any party.
  5. All Aspire Card cardholders consent under the Personal Data Protection Act (Cap 26, 2012) to the collection, use and disclosure of their personal data by / to Aspire and such other third party as Aspire may reasonably consider necessary for the purpose of the Referral Promotion.

Direct Debit Terms and Conditions

Issued by Aspire FT Pte. Ltd. (“Aspire”)

Dated 22nd April 2020


You hereby acknowledge and confirm that you have read, understood and accepted Aspire’s Business Payment Account Terms & Conditions and Aspire’s Cardholder Terms & Conditions (accessible through Aspire’s website https://aspireapp.com/sg/).

Direct Debit Request Service for payments from your Aspire Business Payment Account

  1. By clicking the checkbox and indicating your acceptance of these Direct Debit Terms & Conditions, you authorise us to arrange for funds to be debited from your Aspire Business Payment Account (“Account”) in accordance with your direct debit instructions and these Direct Debit Terms & Conditions.
  2. You authorise Aspire to debit your Account, notwithstanding that doing so may result in an overdraft or an increase of the overdraft on your account. You undertake not to issue any direct debit instructions that would result in an overdraft on your account. 
  3. Aspire is under no obligation to make such payments if your account does not have sufficient funds on the day that the payment(s) is/are due nor to effect overdue payments even though funds are deposited in your account subsequent to the due date for payment(s).
  4. You acknowledge that Aspire shall be entitled to: 
    4.1. Deduct fees and charges from your account for each direct debit payment. Please refer to Aspire’s website for the full list of applicable fees and charges.Aspire reserves the right to revise any fees and/or charges from time to time without prior notice.

    4.2. You acknowledge that a charge may be levied on each direct debit payment that is rejected due to insufficient funds.

    4.3. You acknowledge that this authorisation regarding the direct debit shall continue to be in force until expressly revoked by you by clicking the relevant “delete/cancel” fields in the Aspire website to stop the recurring payment(s), it being understood that Aspire may, at its sole discretion, determine this arrangement by giving written notice to you at your address last known to Aspire. You acknowledge that any alteration and cancellation of the direct debit instructions should reach Aspire at least seven (7) days before the next successive payment is due. For all matters relating to the direct debit instructions, including cancellation, alteration or suspension of drawing arrangements or to stop or defer a payment, or to investigate or dispute a previous payment, you should:

    (a) Contact us on:
    Email: sg@aspireapp.com
    Mail: 1 Syed Alwi Road #04-04 Singapore 207628; and

    (b)  Allow fourteen (14)  days for the amendments to take effect or to respond to a dispute. If our investigations show that your Account has been incorrectly debited, we will arrange for your Account to be adjusted accordingly. We will also notify you in writing of the amount by which your Account has been adjusted. If, following investigations, we believe on reasonable grounds that your Account has been correctly debited, we will respond to you by providing reasons and copies of evidence for this finding.
  5.  It is your responsibility to ensure that sufficient cleared funds are in the Account when the payments are to be drawn.
  6. If the due date for payment falls on a day other than a Business Day,  the payment will be processed on the next Business Day.  If you are uncertain when the payment will be debited from your Account, please check  with Aspire.
  1. You hereby agree to absolve Aspire from any liability whatsoever in respect of any error or omission in the payment(s) to the payee and to indemnify Aspire from and against all claims, demands, losses, actions, proceedings, damages, charges and expenses, including legal costs, on an indemnity basis arising out of Aspire’s acceptance of and actions taken for your authorisation of the direct debit requests.
  2. For returned unpaid transactions, the following procedure applies:
    (a)   Aspire treats the payment as if it was never made;
    (b)   services may be suspended until outstanding charges are paid; and/or
    (c)  a fee may be applied for drawings that are returned unpaid. We may cancel the DDR at any time if drawings are returned unpaid; and/or
    (d) we may attempt to debit the payment again from your Account.
  3. Customer records and Account details will be kept private and confidential and disclosed only at your request or at the request of any third party financial institutions concerned with the matter in connection with a claim made to correct/investigate an alleged incorrect debit or otherwise as required by law.
  4. If any provision of these Terms & Conditions are found to be illegal or void for any reason (e.g. a court or tribunal declares it so) the remaining provisions of these Terms & Conditions continue to apply to the extent possible. 

Definitions

  • Account means the account nominated by you for the direct debit, held with PayrNet,  from which we are authorised to arrange for funds to be debited;
  • Agreement means the terms and conditions and any schedules to these terms and conditions, as amended from time to time;
  • ‘we’, ‘our’ or ‘us’ means Aspire FT Pte. Ltd.; and
  • ‘you’, ‘your’ or ‘yours’ means the customer/s who agree to terms and conditions and applied for the direct debit product.