e-Payment / Auto Credit

1. Electronic Payment (e-Payment), also known as Auto Credit, is a safe and convenient service that allows Etiqa to process and credit refunds, benefits/coverages, or claim payments directly into your designated bank account as per our record.

1. E-payment offers several advantages:
2. a. Fast & Convenient

   E-payments are processed almost efficiently, eliminating delays associated with cheque issuance. Payments are typically available within 2–3 working days from the payment approval date, subject to your bank’s processing time.

3. b. Cost Savings

   E-payment significantly reduces expenses associated with traditional cheque payments, such as postage, cheque writing fees, and the need for physical trips to Etiqa’s office, banks, or post offices.

4. c. Enhanced Security

   E-payments are secured through encryption, providing a safe payment channel and mitigating risks associated with lost, misplaced, or expired cheques.

5. d. Hassle-Free Transactions

   This service eliminates the need for you to physically visit a bank to deposit a cheque, as payments are directly credited into your bank account.

No, there is no registration fee for the e-Payment service and it is provided free of charge.

1. To receive your payment via e-payment:

   Please submit your bank account details through the Etiqa+ app. The service is FREE.

   Important notes:
   1. a.

      Ownership: Ensure the bank account details provided are under your name and matches the policyholder/certificate holder's details.

   2. b.

      Accuracy: Double-check your account details carefully to prevent delays.

   3. c.

      Updates: Inform us promptly if there are any changes to your bank account details.

No, company or corporate accounts are not eligible for e-payment service under your individual policy/certificate. Personal savings or current accounts held solely in your name are accepted. In case of Joint account, your name must be the 1st / Primary account holder for the e-payment to be successful.

Payments will be electronically credited to your bank account upon approval of your claim, benefit, or refund payment. The availability of funds depends on your recipient bank's processing timeline.

Yes, you may update your bank account details via the Etiqa+ app. This service is provided free of charge.
1. To update your bank account details:
   • a.

     Log in to your account on the Etiqa+ app.

   • b.

     Navigate to the “My Policy” section.

   • c.

     Select your preferred policy/certificate.

   • d.

     Click “Edit” at “Bank Details for Payouts” to proceed to update.

1. a.

   If your e-payment transaction is not successful and Etiqa is not able to pay the money to you or the payee within two years, the money will be regarded as unclaimed money.

2. b.

   Reasons for unsuccessful credit to your bank account may include an invalid, closed or inactive bank account, a mismatch in identification number, or if you are not the primary bank account holder. Therefore, please ensure that your banking information submitted to Etiqa is correct and up-to-date.

In the unfortunate event, the distribution will depend on the presence of a valid nomination or assignment:
1. a.

   With a valid nomination or assignment: The payment proceeds will be directed to the assignee or the nominated individual.

2. b.

   Without a valid nomination or assignment: The payment proceeds will be paid to the administrators of your estate, according the Distribution Order, Letter of Administration or Grant of Probate.

1. E-Payment is the most efficient and secure mode of payment. In line with Bank Negara Malaysia’s directive, all insurance companies are required to cease cheque usage. Therefore, please provide your bank account details to enable Etiqa to process payment and refund directly to your bank account.

1. If you have been blacklisted by banks and are unable to open a bank account, Etiqa is unable to process any payment to you until you have an active bank account.
2. If you have been adjudicated as a bankrupt and are unable to open a bank account, please obtain clearance from the Director General of Insolvency (Ketua Pengarah Insolvensi) regarding to whom the payment can be made. Once you have this clearance, kindly inform us accordingly.

To ensure successful auto credit of payments to your bank account, please ensure the following:
1. a.

   Account Ownership: The bank account details provided must be solely in the policyholder/certificate holder's name. In case of a Joint account, please ensure you are the first account holder for the e-payment to be successful.

2. b.

   Matching Identification: The name and identification number (e.g., NRIC, passport) provided must match those registered with the bank for the specified account.

Failure to meet these requirements may result in delays or unsuccessful payment processing.

1. The failure to process your payment may be due to a mismatch between the identification details registered with Etiqa and the bank. For example, Etiqa may have the old identification number (e.g., Police ID, Army ID, Old IC, or the previous Passport number), while your bank records reflect your new NRIC number.
2. To resolve this, please provide us with a copy of your new NRIC. Once we receive and update your details in our system, we will re-attempt the auto credit payment again.

To facilitate the payment to your overseas bank account, please provide the following details below:
1. (1) Bank Name :
2. (2) Bank’s Address :
3. (3) Swift Code :
4. (4) Intermediary Bank code :
5. (5) Customer’s Full Name :
6. (6) Customer’s Address in Overseas :
7. (7) ID No. (overseas) :
8. (8) Passport No.:
9. (8) Passport No.:
10. (10) Account Routing Number (if applicable):
11. (11) Bank Code (if applicable):
12. (12) Branch Code (if applicable):
13. (13) Purpose of Payment:
14. (14) Amount (for our reference):
15. (15) Currency:
16. (16) Copy of Passport:
17. (17) Copy of Bank Statement (showing clear and readable account number).
Please ensure that the name and identification number provided to us match those registered with your bank to avoid any discrepancies.