Payments that are made directly to payee from the bank accounts using security features over the Internet.
Fast, convenient and secure.
It’s simple; submit your bank account details online at My Transactions i.e. Update Direct Credit/ E-Payment.
No cost will be charged for the policy benefits via e-Payment selection.
Direct Credit / E-Payment is only available for direct credit to banks participating in the Interbank GIRO payment system (IBG) which are subject to changes.
You can assign any of your existing active saving or current account held under your name or a joint account that has your name as the first accountholders.
For e-Payment with joint account, please ensure that your name and NRIC/Passport number must be the First Account Holder’s details as it will be the first criteria for bank verification purposes.
Payment will be made electronically into your bank account as soon as your request has been approved and fully authorized by the authorized signatories. Funds will be made available in your bank account within the same business day of payment if it is transmitted to the bank. However, depending on the operations time and processes adopted by your bank, you may receive the payment on the same business day or a day after.
Note: Payment is made at the direction of, and based on information provided by, the originator of the payment instruction. If incorrect information is given or the originator revokes the payment instruction or any other circumstances arises which is beyond our control, this may result in payment being delayed or not received. The actual date of credit funds is also dependent on the clearing system(s) used and the beneficiary’s bank.
Yes, SMS and an e-mail notification will be sent to your registered hand phone number and e-mail address provided by you in the Direct Credit / E-Payment Form once the payment has been transmitted to you.
If funds cannot be credited into your bank account due to, for example, incorrect bank account number, inconsistency of NRIC/Passport Number or Business Registration Number, closed or inactive bank account, we will remit the payment to you via cheque to avoid any delay.
E-Payment is the most efficient, convenient and safest method of payment. However, in the event you do not wish to receive payments directly to your bank account, we will remit the payment to you via cheque. The turnaround time will be extensive as compared to e-Payment.
Yes, you are allowed to change your bank account details online at My Transactions i.e. Update Direct Credit/ E-Payment.
You are not required to provide your bank account information separately if you have more than one policy with same Policy Owner and Life Assured. However if you have policies with different Policy Owner and/or different Life Assured, hence separate form needs to be submitted.
We will update your bank details as and when you submit your Direct Credit / E-Payment Form together with Policy Benefits withdrawal request. Your latest bank details will be updated into our system.
Your bank account details and other related information will be used solely for the purpose of enabling payments to be credited directly into your bank account.
