Frequently Asked Questions

PayNow is an electronic fund transfer service that allows you to receive funds to your bank account linked to your Singapore NRIC/FIN conveniently and efficiently. With PayNow NRIC/FIN, you are no longer required to provide your bank account number to receive funds.

Register your PayNow to your NRIC/FIN through your bank's online banking or mobile app. You may refer to your respective bank's website for specific instructions:

• DBS
• OCBC
• UOB
• Standard Chartered
• HSBC
• Citibank
• Maybank
• Bank of China
• ICBC

You may refer to The Association of Banks in Singapore site for information on the list of participating banks.

You may check your PayNow profile by logging in to your bank’s internet banking portal or mobile banking app. As the screens and process may vary from bank to bank, please visit your bank’s website for more information.

PayNow NRIC/FIN is NOT the same as PayNow Mobile.

PayNow NRIC/FIN is a convenient mode of receiving funds. These are the benefits for choosing PayNow:

• Faster and safer. Payouts are directly credited into your account through PayNow NRIC/FIN. Save a trip to the bank to present the cheque. Need not to worry about missing/outdated cheques or wrong payee names/account numbers!
• Hassle-free. You can change your preferred crediting bank account for your PayNow NRIC/FIN at your own convenience with your bank.

Yes. PayNow NRIC/FIN or PayNow UEN is secured. It adopts the same high security standards established by the banking industry in Singapore for funds transfer. Payouts are only made to NRIC/FIN/UEN linked to PayNow account.

PayNow NRIC/FIN or PayNow UEN is only available for local (Singapore dollar) fund transfers.

There are no fees charged to Income Insurance's customers.

By receiving payouts via PayNow, you agree to Income’s privacy statement. Read Income Insurance's privacy statement and Terms and Conditions.

PayNow is operated by a third-party service provider appointed by the industry-wide scheme owner. It adopts the same high security standards established by the banking industry in Singapore for funds transfer. Payouts are only made to NRIC/FIN/UEN linked to PayNow account. You may refer to The Association of Banks in Singapore for more information.

You do not need to register with Income Insurance to receive your funds via PayNow NRIC/FIN. In line with Singapore’s vision to be chequeless by 2025, our default policy payout method is changing to PayNow NRIC/FIN. We will be progressively rolling out this change from October 2024.

• No, you will continue to receive your funds via direct credit, if you have GIRO arrangement with us of which you are the account holder, or you are receiving regular payout via Direct Credit. Otherwise, the default payout method is PayNow NRIC/FIN. If you have not registered for PayNow NRIC/FIN, we would like to encourage you to register for PayNow NRIC/FIN to enjoy hassle-free, secured and faster payout.
• If you wish to change the payout method to PayNow NRIC/FIN, kindly contact us at your preferred mode of contact at com.sg/contact-us.

No, you would not be able to receive funds from Income Insurance via PayNow as PayNow Mobile is NOT the same as PayNow NRIC/FIN. Income Insurance will only pay to you using PayNow NRIC/FIN. You will need to register for PayNow NRIC/FIN first before you can receive funds from Income Insurance into your bank account via PayNow NRIC/FIN.

If you have not registered for PayNow NRIC/FIN, we would like to encourage you to register for PayNow NRIC/FIN to enjoy hassle-free, secured and faster payout.

Alternatively, Income Insurance will pay to you via Direct Credit to your bank account. You will need to provide your bank account details upon submitting the payout request.

Income Insurance will pay to you via Direct Credit to your bank account. You will need to provide your bank account details upon submitting the payout request.

There could be a few reasons why we were not able to pay you via PayNow NRIC/FIN. These include:

• The payout is not denominated in Singapore Dollars (SGD), or
• Your PayNow profile is not linked to your NRIC/FIN, or
• Your policy premiums were paid from your Central Provident Fund (CPF) account or Supplementary Retirement Scheme account, or
• Your policy has an existing Trust Arrangement, the policy owner is an entity or if the policy is assigned, or
• You are currently receiving your funds via Direct Credit, or
• The type of payout is currently not supported by PayNow NRIC/FIN as Income Insurance is progressively changing the payout method from October 2024.

• We will send an SMS/email^ to notify you if the payout via PayNow NRIC/FIN is unsuccessful. A second attempt to pay you via PayNow NRIC/FIN will be made after three working days from the day you received the SMS/email^.

• If the second attempt is unsuccessful, we will send you another SMS/email^ notification. Thereafter, you would need to login to Payout Management Portal to retrigger the payment using another payment method or you can contact us at your preferred mode of contact at income.com.sg/contact-us for us to process the payout via PayNowNRIC/FIN or Direct Credit to your bank account.

• To ensure that you receive future payouts successfully via PayNow NRIC/FIN, kindly ensure that you have registered PayNow using your NRIC/FIN.

^We will send an email to you if we do not have your mobile number. Please ensure that your contact is updated by logging in to My Income customer portal.

Your bank statement will state the description of the funds received; you will be able to identify the purpose of the funds received via PayNow NRIC/FIN from your bank statements. Alternatively,you may contact us via your preferred mode of contact at contact Income to check out the details.

You can receive funds via PayNow NRIC/FIN as long as you have a Singapore bank account with one of the PayNow participating banks and has registered and linked your PayNow profile to NRIC/FIN with the participating bank. Alternatively, we will pay you via Telegraphic Transfer to your overseas bank account. You are required to provide your oversea bank account details to us when submitting the request.

We will pay you via Telegraphic Transfer to your overseas bank account. You are required to provide your overseas bank account details to us when submitting the request.

We will pay you via Telegraphic Transfer to your bank account. Please provide your overseas bank account details to us when submitting the request.

Yes, you will be impacted by this change. In line with Singapore’s vision to be chequeless by 2025, our default payout method is changing to PayNow NRIC/FIN. If you have not registered for PayNow NRIC/FIN, we would like to encourage you to register for PayNow NRIC/FIN to enjoy hassle-free, secured and faster payout.

Upon submitting the claims, please provide a copy of the bank statement for Income Insurance to process the payout via Direct Crediting.

It's important to note that Income Insurance does not have access to your bank account details as this information is maintained by your respective bank. To find out which bank account your NRIC/FIN is linked to via PayNow, you may try the following steps: 

1. Access your bank account

• Launch yourr mobile banking app* and log in using your user ID and PIN. Alternatively, use internet banking for access.

2. Complete authentication

• Follow your bank's authentication process to ensure secure access to your accounts.

3. Navigate to PayNow

• In the banking menu, find and tap on the 'PayNow' option.

4. Check your profile

• Look for an option such as 'Profile', 'Setup', or 'Manage PayNow'. Here, you will see the NRIC/FIN number linked to your PayNow profile.

*As mobile banking app and internet banking services vary depending on the bank, kindly approach the respective banks for further assistance if required.

Payout Management Portal is a customer platform (for individual customer only) where customer can log in and initiate a re-attempt on failed PayNow payout transactions.

• If you're PayNow NRIC/FIN registered, you can re-initiate the payout via PayNow.
• If you are unable to register Paynow NRIC/FIN, you can initiate the payout through direct crediting to your POSB/DBS bank account. To use a different bank, kindly contact us at your preferred mode of contact at income.com.sg/contact-us.

PayNow UEN is an electronic fund transfer service that allows you to receive funds to your bank account linked to your Singapore UEN number or UEN number + suffix conveniently and efficiently.

Singapore incorporated entities, government agencies, associations, and societies which have a UEN issued in Singapore; and have Singapore bank accounts with one of the PayNow participating banks, can register PayNow with your bank via bank’s internet banking or contact your bank’s relationship manager. You may refer to your bank’s FAQ if you encounter technical issues relating to PayNow UEN registration.

You may refer to The Association of Banks in Singapore site for information on the list of participating banks.

PayNow UEN is a convenient mode of receiving payout. These are the benefits for choosing PayNow:

• Faster and safer. Payouts are directly credited into your account through PayNow UEN. Save a trip to the bank to present the cheque. Need not to worry about missing/outdated cheques or wrong payee names/account numbers!
• Hassle-free. You can change your preferred crediting bank account for your PayNow UEN at your own convenience with your bank.

PayNow UEN is not available to Life and Health policies Corporate customer except for policies bought through our BIX portal.

Yes. PayNow NRIC/FIN or PayNow UEN is secured. It adopts the same high security standards established by the banking industry in Singapore for funds transfer. Payouts are only made to NRIC/FIN/UEN linked to PayNow account.

PayNow NRIC/FIN or PayNow UEN is only available for local (Singapore dollar) fund transfers.

There are no fees charged to Income Insurance's customers.

By receiving payouts via PayNow, you agree to Income’s privacy statement. Read Income Insurance's privacy statement and Terms and Conditions.

PayNow is operated by a third-party service provider appointed by the industry-wide scheme owner. . It adopts the same high security standards established by the banking industry in Singapore for funds transfer. Payouts are only made to NRIC/FIN/UEN linked to PayNow account. You may refer to The Association of Banks in Singapore for more information.

• The default payouts for Life and Health insurance policies will be made via Direct Credit to your bank account. You will need to provide your bank account details when submitting the request.
• The default payouts for General insurance policies or policies bought through our BIX portal will be paid via PayNow UEN. Please provide the suffix if any when submitting the request.

• For non-General insurance policies, you will continue to receive your funds via Direct Credit. PayNow UEN is currently not supported for non-General Insurance policies.
• For General insurance policies, if you wish to change the payout method to PayNow UEN, kindly contact us at your preferred mode of contact at income.com.sg/contact-us.

Income Insurance will pay to you via Direct Credit to your bank account. You will need to provide your bank account details upon submitting the payout request.

Income Insurance will pay to you via Direct Credit to your bank account. You will need to provide your bank account details upon submitting the payout request.

There could be a few reasons why we were not able to pay you via PayNow UEN. These include:

• The payout is not denominated in Singapore Dollars (SGD), or
• Your PayNow profile is not linked to your UEN, or
• You are currently receiving your funds via Direct Credit, or
• The type of payout is currently not supported by PayNow UEN as Income Insurance is progressively changing the payout method from October 2024.

There is only ONE attempt for PayNowUEN. If the attempt is unsuccessful, you will need to contact us at your preferred mode of contact at income.com.sg/contact-us for us to process the payout  via PayNow UEN or Direct Credit to your bank account.

Your bank statement will state the description of the funds received; you will be able to identify the purpose of the funds received via PayNow UEN from your bank statements. Alternatively, you may contact us via your preferred mode of contact at contact Income to check out the details.

We will pay you via Telegraphic Transfer to your bank account. Please provide your overseas bank account details to us when submitting the request.