Summary
- Introduction
- Step 1: Sign Up or Log In to CardUp
- Step 2: Select Payment Type
- Step 3: Enter Payment Details
- Step 4: Review and Confirm
- Step 5: Track Payment Status
- Conclusion
- Related article(s)
Introduction
Managing insurance payments can sometimes be a hassle, especially when dealing with different payment methods and schedules. However, with CardUp, paying your Manulife insurance premiums becomes seamless and convenient. In this article, we'll guide you through the process of making your Manulife insurance payments using CardUp, ensuring a hassle-free experience every time.
For the video tutorial, please click on the following link: Paying Manulife: A Guide to Using Your Credit Card via CardUp
Step 1: Sign Up or Log In to CardUp
If you haven't already, sign up for a CardUp personal account on our website or log in if you're an existing user. CardUp offers a user-friendly platform that allows you to schedule and manage your payments effortlessly.
Link to sign up/log in: https://app.cardup.co/users/sign_in
Step 2: Select Payment Type
Navigate to the homepage and select the "+Create Payment" option to proceed to our payment type page.
Continue by choosing "Domestic payments" and selecting "Insurance" as the payment category.
We've pre-populated the recipient details for the Manulife bank account on the recipient page for your convenience. Simply search for "Manulife Singapore Pte Ltd (paying for USD policies)" and select them as your recipient.
If your policy document specifies a different recipient bank account, you can proceed to fill in the details using the "Add New Recipient" option.
Note: **Manulife has confirmed that the preloaded DBS USD account is accurate.
Step 3: Enter Payment Details
After selecting Manulife Insurance as the recipient, you'll need to enter your payment details. This includes the payment amount, policy number, and any other required information. Double-check the details to ensure accuracy.
Note:
The maximum payment amount allowed to Manulife is USD $50,000 per policy per year. This limit is applicable whether the payment is made as a single transaction or via multiple transactions/recurring installments.
Example:
If you make a payment of USD $50,000 towards Policy A in 2024, you are still permitted to pay up to
USD $50,000 for Policy B within the same year. This limit resets the next year; for instance, if you pay USD $50,000 on 31/08/2024, the next eligible payment can only be made from 1/09/2025 onwards.
Payment Amount: Enter the USD amount owed to Manulife, ensuring it does not exceed the threshold specified on your document. You can view the breakdown of the current conversion rate from USD to SGD, along with the final SGD amount payable, either by credit card or bank transfer, displayed upfront in the "Amount to Send" section.
Payment Method: Choose between credit card or bank transfer.
- For credit card payments, both Singapore-issued credit cards (Visa/Mastercard/American Express/Unionpay) and internationally issued credit cards are accepted.
- For bank transfers, you'll need to declare your source of funds from the drop-down list.
- Please note that the payout will be processed within 3 business days from the date your payment is charged.
Payment Frequency: Payments are one-time only, as recurring payments are not available. The due date is automatically set by the system.
Payment Reference: Please provide your policy number and full name (should not exceed 35 characters and should not contain any special characters.
Purpose of Payment: Select "Insurance Premium or Other Services" from the drop-down menu.
Promo or Referral: You can utilize any available promotions to enjoy a discounted fee rate. However, please note that only one promotion can be applied per payment setup. You may find the promo link here: https://www.cardup.co/personal/pricing
Fee Summary (refer here):
- For credit card payments, a fee will be applied.
- For bank transfers, no fee will be imposed.
Step 4: Review and Confirm
Before proceeding with the payment, review the details entered to ensure everything is accurate. You'll see the final payment amount that will be charged to your credit card on the "Review" payment page. Make sure to read and accept the terms and conditions before clicking on the "Create Payment" option to confirm the transaction.
If you've chosen "Bank Transfer" as your payment method, there are additional steps involved. You'll need to deposit the funds into the CardUp bank account before we can proceed to finalize your payment request.
Bank Account Name: CardUp Pte Ltd
Bank Name: DBS Bank Ltd
Bank SWIFT Code: DBSSSGSG
Bank Account Number: 88540100001
Note: You're required to make the fund transfer directly to the CardUp bank account before 9:00 AM the next working day. Failure to deliver the funds by the stated deadline will result in the automatic cancellation of your payment request by the system. You'll be notified via the registered email address. This note applies to all users.
Step 5: Track Payment Status
Once the payment is initiated, you can track its status on the payment dashboard. CardUp provides real-time updates on the progress of your payment, giving you peace of mind throughout the process.
Conclusion
Paying your Manulife insurance premiums is now much easier. By following these simple steps, you can streamline your payment process and enjoy the convenience of managing your insurance payments online. Say goodbye to manual transfers and late payments – with CardUp, you can ensure your insurance premiums are paid on time, every time.
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