Direct Debit Maintenance Exercise

A onetime maintenance exercise to our existing Direct Debit facility with PayNet

Dear Valued Customers,

In PruBSN’s continuous effort to serve you better, we will be performing a onetime maintenance exercise to our existing Direct Debit facility with PayNet. PayNet is the national payments network and shared central infrastructure for Malaysia’s financial market.

The maintenance exercise will update your current maximum authorisation limit to a higher amount from your current contribution amount. This to facilitate any future changes in your contribution amount. Please rest assured that PruBSN will only deduct actual contribution due from your bank account as per your instruction to us.

For further information on this exercise, please refer to the FAQ.

Frequently Asked Questions (FAQs)

More about direct debit maintenance exercise

Questions	Answers
I have a direct debit arrangement with PruBSN for my contribution payments. What do I need to do for this maintenance?	You will not need to do anything. Your payment instruction remains the same. This maintenance exercise is to update your current maximum authorisation limit to a higher amount from your current contribution amount. This is done to manage any future changes to your contribution amount (if any).
Who/What is PayNet?	Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysia's financial markets. PayNet is largely owned by Bank Negara Malaysia. You may refer to PayNet’s website for further information.
What types of payment method will be part of this maintenance exercise?	Payments via Current Account and Savings Account (CASA) will be part of this maintenance exercise.
Why is PruBSN increasing the authorisation limit set according to my contribution amount?	The authorisation limit is increased to provide flexibility in the event you wish to increase your contribution in the future. However, do rest assured that only the ACTUAL contribution amount will be deducted from your bank account as per your instruction to PruBSN.
When will this maintenance exercise take place?	This maintenance exercise will take place in January 2021.
Will I be charged for this maintenance exercise?	No. You will not be charged for this maintenance exercise.
7.Will this maintenance exercise affect my contribution payment and certificate terms with PruBSN?	No, this maintenance will not affect your current contribution payment to PruBSN, and there will be no changes to your Certificate terms.