FAQ – Life Premium Payment Methods

Premium Payment Methods

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Premium Payment Methods (For Life Insurance)

eGIRO

Q1.       What is eGIRO?

eGIRO stands for Electronic GIRO. It is a digital initiative that digitises the GIRO application process with an aim to significantly reduce the GIRO set-up turnaround time. This is a joint initiative by The Association of Banks in Singapore (ABS), and Participating Banks, with the support of the Monetary Authority of Singapore (MAS).

Q2.       How does eGIRO work and how can it benefit me?

You will now be able to apply for eGIRO via our customer portal at https://www.etiqa.com.sg/LoginPortal/#/ to set up eGIRO in minutes. All you need to do is specify your designated bank for the payment through eGIRO.

Q3.       Who are the participating banks in eGIRO?

At launch, 8 participating banks will be taking part in eGIRO: Bank of China, DBS Bank/POSB, The Hong Kong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China, Maybank, OCBC Bank, Standard Chartered Bank and UOB. The Association of Banks in Singapore is working to onboard more banks onto eGIRO.

Q4.       How can I use eGIRO to pay my insurance premium to Etiqa?

For now, you can use eGIRO to pay only for recurring premiums due on your inforce life insurance policies with us.

Q5.       Will eGIRO replace current paper GIRO?

No. eGIRO is currently not replacing paper GIRO.

Q6.       Will my paper submissions or existing instructions be migrated to eGIRO?

No. Existing instructions or new setups by paper forms will not be migrated to eGIRO.

Q7.       What are the measures in place to safeguard my data during eGIRO set up?

There are stringent security measures in place to safeguard your personal data that passes through eGIRO. Your data is encrypted. Only the bank and billing organisation that you have authorised to receive your data is able to decrypt the data to execute the transactions that you requested. The authentication and authorisation process are underpinned by banks’ 2FA and Transaction Signing.

Q8.       How do I check my eGIRO application status?

The approval for eGIRO application is instant. Upon successful enrolment, you will see a confirmation from the bank that your application is successful. For failed enrolment, an error message will be shown online.

Q9.       How can I amend an existing eGIRO submitted via online?

Currently, you will not be able to amend existing eGIRO instructions submitted via online. You may however wish to initiate a cancellation before resubmitting a new eGIRO set-up.

Q10.       Can I use a joint bank account to set up the eGIRO application?

Yes you can provided that you are also a named joint account holder and you are using this account to pay for a policy whom you are (1) the policyholder or (2) the named payor of the policy.

Q11.       Can I use someone’s bank account to set up the eGIRO application?

No, you cannot unless the named account holder is the name payor of the policy.

Q12.       How can I terminate my eGIRO Payment arrangement?

You and/or your bank account holder can authorise the termination by completing the “Cancellation / Termination of GIRO Arrangement Form” and email us at customercare@etiqa.com.sg. Alternatively, the bank account holder can terminate the arrangement directly with the bank.

Q13.       When is the premium deduction dates?

Please refer to the table on the premium deduction dates.  Should the first attempt to deduct the premiums from your GIRO account fails, we will make one further attempt. However, if both attempts are unsuccessful, the GIRO facility will be discontinued automatically.

Premium Due DateScheduled Deduction Dates
1st Attempt2nd Attempt (if 1st attempt fails)
1st to 15th of current month10th (of current month)25th (of current month)
16th to 31st of current month25th (of current month)10th (of following month)

 Q14.       Can I still apply for GIRO if I do not want online?

We encourage you to use set up the eGIRO online as the approval is instant. However, if you still prefer not to do it online, you may download the Interbank GIRO application form via our website.  Please send the original copy to us for processing.  It will take between 14 to 60 days for the approval.

GIRO [Applicable for SGD denominated policies only]

You may set up GIRO arrangement to make payment for your regular premium policies.

  1. Download and complete our Interbank GIRO Application Form
  2. Mail the original signed Interbank GIRO Application Form to:
Etiqa Insurance Pte. Ltd.
One Raffles Quay, #22-01 North Tower
Singapore 048583
Attention: Life Operations

Please note that GIRO application may take about 6 to 8 weeks to process, and we will inform you on the status of application. Until your GIRO application is approved, kindly remit payments via other payment methods.

Credit Card

You may set up Credit Card Recurring arrangement for your regular premium policies.

  1. Download and complete our Credit Card Authorisation Form (SGD) or Credit Card Authorisation Form (USD)
  2. Email the signed Credit Card Authorisation Form to customer.service@etiqa.com.sg.

Please note that recurring credit card arrangement takes up to 4 weeks to process and we will inform you on the status of application. Until your Credit Card recurring application is approved, kindly remit payments via other payment methods.

*Please note that credit card payment are only allowed for selected regular insurance plan. You may check with your financial advisor or our Customer Care on the available payment methods before making payment.

Bill Payment

You may make payment via Internet Banking Bill Payment Service with Maybank and DBS/POSB banks.

  • Login to your Maybank or DBS/POSB ibanking
  • Select Etiqa Insurance-Life (Maybank account holder) or Etiqa-Life Insurance (DBS/POSB account holder) as the billing organisation under the bill payment tab
  • Input the Policy Number(s) under Reference

*Please ensure that you indicate the policy number in your transfer. We will not be able to process your payments without policy numbers and such payments will be refunded.

Telegraphic Transfer

You may make payment via Telegraphic Transfer to our Maybank bank account below.

For SGD Transfer

Beneficiary:Etiqa Insurance Pte. Ltd.
Beneficiary Bank:Maybank Singapore Limited
Beneficiary Bank Account Number:04011519914
Beneficiary Bank Address:2 Battery Road
Maybank Tower
Floor 01-01
Singapore 049907
Beneficiary Bank SWIFT Code:MBBESGS2
Comments /Reference FieldPolicy Number / Name of Policyholder/ Contact Number

For USD Transfer

Beneficiary:Etiqa Insurance Pte. Ltd.
Beneficiary Bank:Maybank Singapore Limited
Beneficiary Bank Account Number:64010087244
Beneficiary Bank Address:2 Battery Road
Maybank Tower
Floor 01-01
Singapore 049907
Beneficiary Bank SWIFT Code:MBBESGS2
Comments /Reference FieldPolicy Number / Name of Policyholder/ Contact Number

*Please note that all bank charges relating to the remittance will be borne by the payer.
*Please ensure that you indicate the policy number in your transfer. We will not be able to process your payments without policy numbers and such payments will be refunded.

PayNow

You may make payment via PayNow to our registered Unique Entity number (UEN) 201331905KDP1.

*Please note that PayNow transfer limit is up to S$200,000 per transfer and subject to your daily local transfer limit. Please contact your bank for enquiry on your transfer limit.
* Please ensure that you indicate the policy number in your transfer. We will not be able to process your payments without policy numbers and such payments will be refunded.

Fast And Secure Transfers (FAST)

You may make payment via FAST to our Maybank account below:

Maybank Account :04011519914

*Please note that FAST transfer limit is up to S$200,000 per transfer and subject to your daily local transfer limit. Please contact your bank for enquiry on your transfer limit.
*Please ensure that you indicate the policy number in your transfer. We will not be able to process your payments without policy numbers and such payments will be refunded.

If you still cannot find an answer to your question, please WhatsApp our Customer Care Officers at +65 6887 877.