Paying for your comprehensive car insurance policy is one of the crucial steps in getting your vehicle insured. If you’re getting your policy from MoneyMax.ph, you’ll be glad to know that you have a lot of easy and convenient payment methods to choose from.
How to Pay For Car Insurance Policy
1. Bank Deposit
You can pay cash over the counter for your car insurance policy at any BDO branch.
BDO account information:
- Account name: MoneyHero Insurance Brokerage Inc.
- Account number: 005310939351
2. Online Banking
You can also pay for your car insurance policy online through BDO. Just simply make an online transfer to MoneyHero’s BDO account. To do so, take note of the following steps:
- Log in to BDO Internet Banking, click “Enrollment Services” > “Other Person’s Account” > “Enroll”
- Provide the information needed then click “Submit”
- Activate your enrollment via any BDO ATM using your BDO ATM Debit Card
You may transfer money to MoneyHero’s account 24 hours from ATM activation.
3. GCash App
Paying for car insurance in just a few smartphone taps is easy with Gcash using its mobile app.
How to Pay Car Insurance Policy Using GCash
- Open the GCash app and log in to your account.
- Tap the Pay Bills icon.
- Under the Biller Categories, choose “Insurance.”
- Select the name of your car insurance provider.*
- Enter your account number and the amount to pay. To receive a copy of your transaction receipt via email, enter your email address.
- Review and confirm your payment.
*Note: As of December 2018, GCash accepts payments to the following car insurance companies: FPG Insurance and Standard Insurance.
Read more: Using GCash: A Handy Guide for New GCash App Users
Dragonpay is an online payment platform that allows over-the-counter cash payments—including your car insurance policy from MoneyMax.ph—at bills payment and remittance centers in the Philippines:
- Bayad Center
- Cebuana Lhuillier
- ECPay outlets (select Western Union branches, Tambunting Pawnshops, Petron stations, Ever Superstores, etc.)
- M Lhuillier
- Robinsons Department Stores
- Payment counters at The SM Store, SM Supermarket, SM Hypermarket, and Savemore
Read more: Got Bills to Pay? Here’s Your Guide to Bills Payment Centers in the Philippines
You may also choose to pay through any BancNet ATM.
How to Pay Car Insurance Policy Using a BancNet ATM
- Insert your ATM or debit card into the ATM.
- Enter your PIN.
- Choose Bills Payment > Category > Company.
- Enter your account number.
- Choose the account (Savings/Checking) from which your payment will be deducted.
- Enter the amount to pay.
- Get your transaction slip.
Car insurance policy payment is also made easy through PayPal. Simply follow these steps:
- Log in to your PayPal account.
- Click Pay or send payments > Make a payment in a few seconds.
- Enter the email address (ask your MoneyMax.ph agent for this info). Click Next.
- Enter the amount to pay. Click Continue.
- Choose the credit card account where the payment will be charged to. Click Next.
- Review the amount and payment method. Click Send Payments Now to complete the transaction.
7. Credit Card
8. Check Payment
Simply issue a check payable to MoneyHero Insurance Brokerage Inc. and hand it personally to the MoneyMax.ph office (15/F Citibank Tower, 8741 Paseo de Roxas, Makati City). You can visit any time from 9 am to 6 pm, Monday to Friday.
Can I Pay for My Policy in Installments?
Yes, MoneyMax.ph accepts installment payments (up to four installments within 90 days). This applies to the following payment methods:
- Over-the-counter bank deposit
- Check payment (one dated check plus three post-dated checks after 30 days, 60 days, and 90 days)
- Over-the-counter payment via Dragonpay
Paying your insurance policy in installments is a great option if you want more flexibility in your budget. It spreads out payments over three months as opposed to a one-time payment.
However, making a full, upfront payment does have its advantage. Having a fully paid car insurance policy ensures quicker processing of your claims request. Providers do not process claims requests until policies are fully paid.
Which Payment Method Guarantees the Fastest Policy Delivery?
Your choice of payment method, whether in full or installments, won’t affect the speed of the delivery of your car insurance policy.
MoneyMax.ph issues paperless policies(also called e-policies), enabling the online brokerage company to provide them in as fast as under 24 hours up to 74 hours upon payment and submission of complete requirements. How fast you’ll receive your policy will depend on the car insurance provider’s processing time.
Got more questions about your policy payment? Call a MoneyMax.ph financial advisor through the customer hotline (02) 750-2619.