1) Faster – funds are available on the same day or latest by the following day of
payment date for Maybank account holders and for other commercial banks
funds are available between 3 to 7 working days
2) Convenient – removes the need to travel and deposit the cheque at the bank as
payments are credited directly into your bank account
3) Safer – misplaced, lost, fraud or expired cheques will no longer be an issue
No, you can enjoy the service free of ANY charges
You must indicate in the claim form or inform your insurance company when you
cancel your insurance policy or make an insurance claim. You will be required to
provide your bank account information to the insurance company in writing or fill it up
in your claim form. The claim form is the document to be submitted with other
necessary supporting documents when you make a claim.
If you have informed your insurance company of your intention to use e-payment when
you request for cancellation of a policy or make a claim with them, you must remember
to update them if there are any changes to your bank account.
The following original documents are required for verification:
– NRIC, passport, or other acceptable identification documents; and
– A (a) bank statement; OR (b) bank account passbook; OR (c) bank slip; (d) details
of your account printed from your bank’s website that has been certified by your
bank; OR (e) letter from your bank confirming your bank account details.
Yes, you are allowed to change your bank account details by submitting the relevant
prescribed form together with the required supporting documents substantiating your
request to your insurance company. No cost will be charged for this purpose
Payment will be made electronically into your bank account by your insurance company
as soon as your claim has been approved. Generally, funds will be made available in
your bank account within the same day of payment for Maybank account holders and
for other commercial banks funds are available between 3 to 7 working days, depending
on the processes adopted by your bank.
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