There are several ways CardUp can support your insurance premium payments.
Option 1: Pay directly to your insurance provider
CardUp has pre-populated several major insurance providers to make your payment setup easier.
When creating your payment, simply select your insurance provider from the Recipient list.
Some of the supported insurance providers include:
Manulife
AIA
Singapore Life (Singlife)
Prudential
Great Eastern
Tokio Marine
And many more.
Option 2: Add your insurance provider as a new recipient
If your insurance provider isn't listed, you can still make a payment by adding them as a new recipient.
Click Add Recipient during the payment setup.
Enter your insurance provider's bank account details.
Upload supporting documents showing the recipient's bank account details (for example, your insurance invoice or payment instructions).
Option 3: Fund your GIRO arrangement
If you have an active GIRO arrangement with your insurance provider, CardUp can support a payment to your own bank account to fund the upcoming GIRO deduction.
If you have an existing GIRO arrangement with your bank, we can facilitate a transfer of funds to your personal savings account. This method provides convenience through automated payments without manual intervention each time. To proceed with this option, please follow these steps:
Enter Your Bank Account Details: On the payment setup page, input your bank account details. Ensuring the correct account number is crucial to avoid any issues during the transfer process.
Upload a Recent Bank Statement: To verify your active GIRO arrangement, please upload a recent bank statement that clearly displays:
Your account number
Your name as it appears on the account
Evidence of a GIRO deduction
Review Your GIRO Arrangement: Ensure that your GIRO arrangement is active and in good standing to guarantee that funds can be deducted without complications.
Important Considerations for GIRO Payments
To ensure a smooth transaction and avoid unexpected issues, please keep the following points in mind:
Set the CardUp Due Date: We recommend setting the due date for your payment 3-5 working days in advance. This buffer period is essential to accommodate any potential processing issues and ensure timely execution of your payment.
Direct Disbursement: Funds will be disbursed directly into your bank account, and the GIRO will automatically deduct the specified amount thereafter. It's important to monitor your bank account to confirm that the deduction is processed correctly.
Maintain Your GIRO Arrangement: Do not terminate your GIRO arrangement, as it needs to continue deducting the funds per the agreed terms. Discontinuing your GIRO could lead to missed payments and additional fees.
Payee's Name: When entering your bank details, ensure that the payee's name corresponds to your bank's name and not your own name. This detail is critical for the transaction to be processed correctly.
Verification of GIRO Arrangement: The uploaded bank statement must clearly show your account number, name, and the GIRO deduction to verify that you have an active GIRO arrangement. This step is essential for ensuring your payment can be processed without delay.