Important Notice
1. The fixed DD collection dates as agreed for New Business do not apply here. Collection date for an existing policy switching to DD is determined by the respective policy’s premium due date.
2. Cheque payment is acceptable as the interim premium while waiting for the DD to be set up. Cheque to be made payable to Friends Provident International Limited.
3. The arrangement applies to all regular premium new business and all HKD bank accounts held within HK.
4. DDA forms must be submitted through FPI’s HK office and not to the bank and DDA Set up process takes between 3 and 6 weeks to complete.
5. To switch from BSO or other payment method to DD, a minimum notice period of 10 working days is required. In the case of BSO, the client must cancel the instruction directly with the bank, and submit a duly completed DDA form to FPI’s HK Office.
6. The DD is an automated process whereby premium collections are scheduled to take place by the premium due date. Ad-hoc DD suspension requests are not supported. The only way to supersede the scheduled premium collection is for the client to cancel the DDA directly with the bank, and arrange for alternative payment method to be put in place with 10 working days’ notice given to FPIL.
7. For details, please refer to Direct Debit Processing Document Prepared for OnePlatform
Checklist (Updated: 29 May 2020)
Change to DDA
1. CS eform
2. Request for premium policy contribution change ([R7])
3. Direct Debit Authorisation ([D2])
Only available for HK dollar bank accounts in Hong Kong and policy currency must be in Hong Kong dollar.
Change to Credit Card
1. CS eform
2. Request for premium policy contribution change ([R7])
3. Credit Card Charge Authorisation ([D1])
Change to BSO (Banker’s standing order)
1. CS eform
2. Request for premium policy contribution change ([R7])
3. Banker's Standing Order (BSO form) ([B1])
Change to bank instruction letter
1. CS eform
2. Request for premium policy contribution change ([R7])
3. Bank instruction letter ([B3])
Please note this payment method is not applicable to monthly premium payment frequency.
Change of BSO Bank Account
1. CS eform
2. New Bank Standing Order Instruction
- Fill in Banker's Standing Order ([B1]) [For HKD policy only]
- If USD policy, only HSBC is recommended for use because other banks will charge client extra fee
- For Hang Seng Bank, you have to use Hang Seng standing instruction
- For Bank of China, you have to use Bank of China Direct Credit Authorisation
- If client submit the BSO to the bank directly, please certify copy of the receipt by consultant and attach with the application. The starting date should be at least 2 weeks later from the submission date.
- Standard Chartered bank will only accept the Remittance Request Form (i.e. one off payment instruction, equivalent to our Bank Instruction Letter form) to be submitted by the client in person over the counter or via online banking. To fulfill FPI Source of Fund requirement, the client should request for a "customer copy" with the bank receipt stamp over the counter if he/she fills the form at the counter. If the client printed out the remittance request form via internet, client should request the SCB branch to take a copy of that remittance form and stamp a receipt date chop on. *We expect to receive a certified copy of this bank receipt form as Source Of Fund proof. (updated: 23 Jul 2013)
Points to Note
1. If client change the BSO with his bank but not through Friends, please submit a certified true copy of the new BSO with bank receipt stamp or the certified true copy of the amendment of the BSO with bank receipt stamp. Otherwise, Friends need a Bank Confirmation letter stating that a Standing Instruction has been set-up quoting the account holders name, account number, new premium amount & start date of standing instruction.
2. If the above is not available, Friends is willing to accept a certified copy of the client's bank statement showing the transaction. The bank statement must clearly show the account holder's name, account number and the debit transaction amount and date.
3. Please ensure the previous BSO has been cancelled by the client. Otherwise, the p revious BSO will be debited from client’s bank a/c which causes duplicate payment being received by FPI.
4. Please read the BSO_Q&A before you complete the BSO form.
Friends Provident Customer Hotline: 35506188