Toggle Navigation

e-Payment FAQs

Auto Credit FAQ

Q1. What is e-Payment or Auto Credit?

e-Payment or Auto Credit is a mode of payment that allows Etiqa to credit refunds of premium/ contribution, benefit/ surrender payment, surplus distribution, and/or claim payments to your bank account electronically.

Q2. Why should I choose to receive funds via e-Payment?

  • Faster: Funds are available once the payment has been processed by the bank.
  • Safer: Misplaced, lost, fraudulent or expired cheques will no longer be an issue.
  • Convenient: Removes the need to travel and deposit the cheques at the bank.

Q3. Will there be any registration fee if I opt for e-Payment or Auto Credit?

No, you can enjoy the service free of charge.

Q4. Is it mandatory to fill up bank account details?

We strongly encourage you to register your bank account details in order for you receive payments via direct deposit into your bank account.

Q5. What do I have to do to receive funds via e-Payment?

Please indicate your bank name and current / savings account number during:
  • New policy / certificate submission
  • Claim/ Benefit / Surrender submission
  • Endorsement / Alteration / Request for Change submission
And

You may provide your bank account information through MyAccount . You may register for MyAccount anytime and anywhere. Alternatively, you can also call Etiqa Oneline at 1300 13 8888 to find out more.

Important: Please ensure that the name and identification number (MyKad/ Old IC/ Army/ Police/ Passport/ Business Registration No.) provided to us is the same as the one used to open your bank account to avoid auto credit failure.

Q6. Are there any restrictions on the type of bank account that can be assigned for e-Payment?

You can assign any one of your existing active current/ savings account held under your name for e-Payment. Also, your personal bank account must NOT be a joint account and the bank account is must be maintained with one of the financial institutions offering MEPS Inter-Bank GIRO (IBG) service.
You may refer to the following website for the latest list of IBG members:

Q7. When will the funds be credited to my bank account?

Payment will be made electronically into your bank account by Etiqa within 5 working days once your payment has been approved.

Q8. What will happen to funds that cannot be credited into my bank account?

If funds cannot be credited into your bank account due to various reasons such as; incorrect bank account number, closed, inactive bank account or mismatch of identification number, a cheque will be issued to you instead.
However, this will lead to an unnecessary delay in payment process. To avoid this, please ensure that your bank account details are correct and bank account is active when providing the information to Etiqa.
Also, do ensure that the name and identification number provided to us is the same as the one used to open your bank account.

Q9. Will I be notified once the Etiqa has made the payment?

Yes, a notification letter will be provided to you once your payment has been approved or credited to your account.
You are also encouraged to provide your email address and mobile phone number for future notification via email or SMS.

Q10. Can I change my bank account information?

Yes, you may change your bank account information by submitting the Endorsement/ Alteration/ Request for Change form with the required supporting documents substantiating your request to Etiqa. No cost will be charged for this purpose.
 
Or, you can update your bank account information via MyAccount:
  1. Register for MyAccount
  2. Click on My Bank Account Dashboard
  3. Select your preferred policy/certificates
  4. Choose your preferred Bank Name
  5. Click update to proceed

Q11. If I have more than one policy/ certificate, do I need to provide the bank account information and supporting documents separately for each of my policy/ certificate?

Yes, you will need to indicate your bank account information at the point of submitting your form and to ensure identification (MyKad/ Old IC/ Army/ Police/ Passport/ Business Registration No.) is provided for validation purposes or you can update your bank account number through MyAccount.

Q12. Do I need to provide my bank account information and supporting documents every time I submit a claim?

No. However, please update your bank account information with us if there are any changes as per Question 10 above.

Q13. What if I do not wish to indicate my bank account information – how do I get paid?

It’s important to know that:
  • e-Payment is highly encouraged as it is the most efficient and safest mode of payment.
  • All of our e-Payment transactions are verified by matching your identification number given in policy/ certificate against the identification number used to open your bank account. This tremendously reduces the chances of fraud.
However, in the event you do not wish to receive payments via e-Payment, payments will be made to you via cheque. Please do note that this payment mode will take longer to process.

Q14. In the event of death of the policy/ certificate holder, and bank accounts have been frozen, what happens to the refunds then?

All monies due to a policy/ certificate holder in the event of death will go to the administrators of the policy/ certificate holder’s estate or appointed beneficiaries.

Q15. How will my bank account information be used and will it remain confidential?

Your bank account information and other related information:
  • Will be used solely for the purpose of enabling payments to be credited directly into your savings/current account; and
  • Is protected and under prevailing laws, Etiqa is strictly prohibited from disclosing such information to any person unless the customer or the customer’s personal representative has given written permission.
  • Will be used for the purpose of processing this application, providing subsequent service related to policies.

Frequently asked questions on Premium Payment?

Q1. What is e-Payment or Auto Debit?

e-Payment or Auto Debit is a mode payment that allows for your savings/current account to be deducted automatically on a fixed schedule to pay your premium / contribution electronically.

Q2. Why should I choose to pay premium via Debit/Credit Card?

  • Free (Cost Saving): No charges imposed on the auto deduction of the premium / contribution facility provided by Etiqa.
  • Safer: Misplaced, lost, fraudulent or expired cheques will no longer be an issue.
  • Environmental friendly: Printing and posting of cheques will no longer be required.
  • Convenient: remove the need to travel and pay at Etiqa branches.

Q3. Will there be any processing fee/charges?

No, you can enjoy the service free of charge.

Q4. How will my payment card information be used and remain confidential?

Your payment card details and other related information:
  • Will be used solely for the purpose of enabling premium / contribution payments deduction for the specific policy authorized.
  • For security, a copy of the payment card or cvv number is not required for Etiqa to process the auto deduction.

Q5. What are the common reasons for unsuccessful deduction?

Common reasons for unsuccessful deduction are as follows:
  • Card has not been activated
  • Exceed purchase/withdrawal limit (Debit Card)
  • Insufficient funds (Debit Card)
  • Exceed credit limit (Credit Card)
  • Declined by Bank (Cardholder to refer to bank)

Q6. Why would my Debit Card payment have been declined even though my account has sufficient fund to make the payment?

Common conditions that can prevent your payment from going through:
  • The payment amount exceeds your daily spending/purchase limit.
  • The payment is larger than the maximum transaction limit for your account.
Important: Do call up the bank to clarify as different banks may have different practices/ controls.

Q7. If my card has expired / changed, do I need to update Etiqa?

Yes, you need to update Etiqa with the new expiry date or the new card number.

Q8. If I increase my premium, will it automatically increase the deduction amount?

Yes, Etiqa will bill the premium / contribution amount accordingly.

Q9. After I have submitted the Direct Debit/Credit form, when will the deduction take effect?

Once the Auto Debit information have been updated in the Etiqa system, it will be made effective for the next payment scheduled.

Q10. My policy status is Lapse. Can I apply for Direct Debit/Credit?

Yes, however, the premium / contribution payment deduction will only take effect after the policy has been successful reinstated. No deduction will take place when the policy status is still lapsed.

Q11. How to apply premium / contribution payment via Debit/Credit Card?

Sign up for Credit/Debit Card Authorisation (AutoPay) for Life Insurance and Family Takaful via the following form:
Or, sign up for Auto Debit for General Insurance and Takaful via the following form:
and email the form to info@etiqa.com.my
 
Alternatively, you may also call our Etiqa Oneline at 1300 13 8888.
 
Important Note:
For Maybank Debit Card, you may check your purchase limit via m2u.
For Non Maybank Debit Card, you may call your respective bank to activate and ensure the purchase limit is below the premium / contribution amount.

About Us

Read More>
Personal
Business
© 2018 Etiqa. All Rights Reserved.