“Gift-a-Portfolio” refers to SqSave account service option allowing existing SqSave clients to send a gift to another individual (i.e., existing or non-existing SqSave client) subject to these Terms and Conditions.

“Giver” means the sender or creator of the Gift-a-Portfolio.

“Recipient” means the intended person designated by the Giver to receive the Gift-a-Portfolio.

1. Gift-a-Portfolio is subject to the SqSave Account Agreement’s terms and conditions which these terms and conditions form a part of. As such, Gift-a-Portfolio will also be subject but not limited to related compliance checks, including those outlined in sections 12 (Compliance with Law and Tax Implications) and 13 (Know Your Client Requirements) of the Agreement. SqSave has the final right to reject any Gift-a-Portfolio without providing a reason.
2. Gift-a-Portfolio is an investment and cannot be redeemed for cash.
3. Delivery of Gift-a-Portfolio is strictly by and through SqSave only using email as the primary channel.
4. The intended Recipient must meet all SqSave’s compliance and other requirements for account opening (including those outlined in various sections of the Agreement), failing which the Gift-a-Portfolio will be deemed to have been rejected and refunded back to the Giver.
5. SqSave is not responsible for any failure to complete the Gift-a-Portfolio process arising from technical or other reasons that may arise from time-to-time, including errors in communications, personal or other relevant details.
6. The Gift-a-Portfolio amount will stay unchanged as it is uninvested until the Recipient confirms acceptance of the gift. Thereafter, the Gift-a-Portfolio amount stipulated by the Giver will be invested into an “Acorn” goal and its value will fluctuate with the market, which means there is a potential for gains and a risk of loss. As such, Gift-a-Portfolio is subject to the same risks as outlined in section 9 (Risks) and Schedule 1 – Overseas-Listed Investment Products of the Agreement.
7. The Giver has the ability to set the risk setting of the Gift-a-Portfolio and the minimum investment period during the online Gift-a-Portfolio process, accessible from the top menu options after logging into their account. Once set and confirmed to be sent by the Giver to the Recipient, SqSave will not be able to change or modify the settings made by the Giver. Likewise, the Recipient will not be able to change the risk settings, Gift-a-Portfolio amount, or the minimum investment period, if any, so decided by the Giver.
8. During the minimum investment period, if any, set by the Giver, the Recipient will not be able to withdraw or top-up to the Acorn goal created upon acceptance of the Gift-a-Portfolio by the Recipient.
9. After the minimum investment period, the Recipient will be able to withdraw from or top-up to the Acorn goal created by the Gift-a-Portfolio. Change of the Acorn goal’s risk settings can only be undertaken by withdrawing to the SqCash component and then transferring into a newly created goal with different selected risk settings.
10. Gift-a-Portfolio is not intended to be used as a way to transfer money from one person to another. SqSave will monitor transactions for such activity or any other activity that may constitute misuse of the Gift-a-Portfolio service or is potentially suspicious or illegal, and SqSave reserves the right to coordinate and share information with relevant authorities as needed to ensure transactional and system integrity.