Receive payouts via Telegraphic Transfer (TT)
This option enables you to apply for Telegraphic Transfer (TT) to credit your policy payout directly to your overseas bank account.
What you need to know
- Telegraphic Transfer transactions are subject to prevailing bank charges and applicable currency conversion rates imposed by the bank(s) involved.
- Payouts credited via Telegraphic Transfer will be net of any charges imposed by the bank(s) involved. If a Telegraphic Transfer is unsuccessful, applicable bank charges will be deducted before the payout is reissued.
- For payout amounts below United States Dollar (USD) 200, the payment method will automatically be changed to a cheque.
- For payout amounts below Singapore Dollar (SGD) 200, the payout will be placed on hold. To receive future payments digitally, you may register for alternative payment methods such as PayNow or Electronic Fund Transfer (EFT) by clicking here.
- If you do not have a Singapore Dollar (SGD)-denominated bank account, please contact us via the Manulife Singapore website under Self Services > Claims > Contact Us for further assistance.
Who is this for:
- Applicable for non-SGD policies and SGD policies where proceeds are to be paid to overseas bank accounts or local wealth management accounts, including those under DBS Treasures, DBS Treasures Private Client, DBS Private Banking and other private banks.
- This application or change will apply to all future payouts for the selected policies superseding any existing payout instructions
Instructions
1. Log in to your account on MyManulife or the Manulife SG App.
2. Click "Services", then select "Telegraphic Transfer".
3. Choose the policy for which you wish to apply for Telegraphic Transfer.
4. Under "Type of Request," select "Application/Change of Telegraphic Transfer (TT) account“.
5. Complete the required information and upload a copy of your bank statement or passbook for verification.
6. Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Who is this for:
- Applicable for non-SGD policies with an existing Telegraphic Transfer (TT) arrangement.
- For non-SGD policies, after termination, future payments will default to cheque.
- If you have an SGD policy, you can terminate your TT arrangement by applying for PayNow or Electronic Fund Transfer (EFT) to change your payout method.
Instructions
1. Log into your account via MyManulife (opens in a new tab)
2. Click on "Services", then select "Telegraphic Transfer".
3. Choose the policy on which you wish to terminate the Telegraphic Transfer.
4. Under "Type of Request," select "Termination of Telegraphic Transfer (TT) arrangement".
5. Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
FAQs
To set up a Telegraphic Transfer (TT) arrangement, you will need to upload a copy of your bank passbook or bank statement for verification purposes.
We accept bank statements with account balances and transaction details blacked out or masked. Truncated e-statements downloaded from a bank's mobile application are also acceptable, provided the account holder's name and account number are shown on the same page.