Your use of the Singlife Wallet (‘Wallet”) will be governed by these Terms and Conditions. The Wallet is a prepaid account powered by EON and issued by Union Bank of the Philippines (“UnionBank”). These Terms and Conditions are subject to the applicable rules and regulations and other existing and future laws, rules, and regulations of the Philippines relating to the opening and maintenance of prepaid accounts. By clicking “I Agree”, you acknowledge that you have read understood, and unconditionally agree to be bound by these Terms and Conditions, including all amendments, revisions and additions which UnionBank or Singlife may effect from to time. You agree that you have the obligation to update yourself on any amendments to these Terms and Conditions. Unless specified otherwise, these Terms and Conditions, together with the EON Privacy Policy found at https://www.unionbankph.com/privacy-security apply to the features and capabilities of the Wallet. These Terms and Conditions will prevail in case of conflict with the Singlife App Terms and Conditions (“App Terms”) as regards to matters that pertain to your Wallet.
There are words and terminologies here that have special meanings. To better understand them, please refer to the Definition of Terms.
Definition of Terms
• “Bank” or “UnionBank” refers to UnionBank of the Philippines with principal office at UnionBank Plaza, Meralco Ave. cor. Onyx and Sapphire Roads, Ortigas Center, Pasig City, Philippines
• “BSP” refers to Bangko Sentral ng Pilipinas.
• “EON Services” refer to the various financial transactions provided by the Bank, as may be amended from time to time, described in Sec. 3 of these Terms and Conditions, which have been made available to you in the Singlife App. Singlife and the Bank reserves the right to add to or remove the kinds of financial transactions you can perform using the Singlife App.
• "Mobile Phone" refers to a cellular network phone unit with a subscriber identity module (SIM) card and corresponding 11-digit mobile number assigned to the SIM card.
• "One-Time Password" or "OTP" refers to the six-digit code sent to the registered mobile number or generated through the Singlife App for purposes of authenticating the person logging in to the App or performing a financial transaction using the App.
• “Singlife Account” refers to your insurance account with Singlife used to access the Singlife App.
• “Singlife Card” or “Card” refers to the Visa prepaid card issued by UnionBank linked to your Wallet bearing the names and marks of Singlife and EON.
• "Singlife Plan and Protect App” or “Singlife App” or “App” refers to Singlife’s mobile application where you can access your Singlife Wallet and the services provided by UnionBank.
• "Wallet" or “Singlife Wallet” refers to the EON prepaid account provided by UnionBank linked to your Singlife Account and Singlife Card where the monetary value of fiat currency is stored and which you can use to pay your premiums to your insurance policies or claim your insurance benefits. The Wallet is an electronic money product regulated by the BSP and covered by the Anti-Money Laundering Act. It is not a deposit account and is not insured with the Philippine Deposit Insurance Corporation (PDIC). It may only be redeemed at face value, and it does not earn interest, rewards, or similar incentives convertible to cash.
• "We", "Us", "Our", " refers to Singlife and UnionBank.
• "You" and "Your" refers to the owner of the Account and the Singlife App.
Singlife Wallet Terms & Conditions
1. Access to Wallet
a) Your access to the Wallet begins only when: (i) you activate the Singlife Account in the Singlife App; and (ii) after your application to open a prepaid account has been approved by the Bank. Acceptance of your application to open a Wallet is at the sole discretion of the Bank as dictated by and subject to the Bank’s policies, processes, laws or regulations. Neither the Bank or Singlife shall be responsible for any failure in the application process, and the Bank reserves the right to decline any applicant who fails to comply with Bank requirements if, in the Bank’s sole determination, your availment of a Wallet would expose the Bank to any risks. You agree to hold both the Bank and Singlife free and harmless from any and all costs, liabilities or damages which you may suffer resulting from the Bank’s exercise of this discretion.
b) You agree that Singlife shall forward your customer data you provided in the App to the Bank to facilitate the account opening of your Wallet, and supply additional information as may be required by the Bank. You shall ensure and certify that the information you provide through the App as required by both Singlife and UnionBank is valid, true, correct and complete and you agree to immediately and/or periodically update the same should there be any change, mistake or should they become inaccurate. You fully understand and agree that any and all information provided to the Bank may be used by UnionBank to provide the Wallet. You acknowledge that your nominated e-mail address and/or mobile phone number maintained in the App’s records are active and valid. You fully understand that the contact information you have provided shall be used for all correspondences between us, unless We receive written notification of any change on said contact and/or other personal information so please inform us immediately of any contact detail changes. You further agree and authorize the Bank to use and verify your personal information: (i) for purposes set forth in the EON Privacy Policy and (ii) to the extent that the Bank otherwise determines is necessary and/or advisable, in its sole discretion, to comply with applicable law. For more information on your rights as a data subject, you may review the EON’s Privacy Policy at https://www.unionbankph.com/privacy-security.
c) Wallet services will only be available after validation of the information you provided and authentication of your identity through various two-factor authentication methods. Once validated and authenticated, all instructions received from you through the App will be considered fully authorized, and valid and binding on you. We or the Bank will not be liable for implementing the banking transactions you instructed through the App.
d) We will have no obligation to verify the authenticity of any transaction received from you through or purporting to have been made by you using the App other than by means of verification of your mobile number through the OTP sent, your User ID and password, or through biometric authentication methods such as but not limited to fingerprint scanning, facial recognition or retina scan.
e) Your enrolment to the Wallet will be effective upon your receipt of the confirmation of your Wallet creation through SMS and/or email and in app notification and will remain in full force and effect until your Wallet is closed in accordance with these Terms and Conditions.
f) Once your Wallet has been created, We will send you a Singlife Card to the address you have provided Us. You need to activate your Singlife Card and once activated you will have a Wallet with a maximum month Cash-In limit of Five Hundred Thousand Pesos (P500,000.00). Singlife Cards shall remain the property of Singlife and UnionBank and must be surrendered upon demand. It is non-transferable, and may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law.
g) The App should only be installed in one Mobile Phone for your own security. If the App has already been installed in one Mobile Phone and you wish to use it on another Mobile Phone, you may do so by logging in and entering your OTP. You will only be able to access the App on one Mobile Phone at a time.
h) The Wallet may be utilized anytime except for when it is unavailable due to system maintenance.
2. Singlife Visa Prepaid Card (Singlife Card)
a) Your Singlife Wallet comes with a Singlife Card, which you can use to transact with any VISA-accredited physical or online stores worldwide. You can also use the Singlife Card through ATMs to get your money in cash.
b) Your Singlife Card will be delivered to you once you request for it through the Singlife Plan & Protect app. Once you receive your Singlife Card, you need to activate it through the Singlife Plan & Protect app to enjoy its features.
c) We shall deliver your Singlife Card to the nominated address declared in the Singlife Plan & Protect App. The recipient should present a valid ID with an address that matches the provided delivery address before the courier releases the Singlife Card.
d) We shall attempt to deliver your Singlife Card two (2) times to your declared address with an interval of 1-2 business days. Should you fail to receive the Singlife Card after two (2) attempts, we shall immediately process disposal of your undelivered Singlife Card. After disposal, you may request again for a new card after paying for a replacement fee as stated in the Service Charge and Taxes found in Section 10 below which shall be charged to your Singlife Account.
3. Online Banking Password Security
a) You will keep your User ID, password, Wallet account number and other account data confidential and secure at all times and you are fully responsible for making sure that you take all reasonable steps to prevent disclosure. Under no circumstances should you keep a written or electronic record of your user ID and password, or account numbers, or disclose these to any other person.
b) To protect your User ID and password, you should always log off when your Mobile Phone is unattended or after completing a banking transaction. We recommend that you only use the App on one (1) Mobile Phone.
c) You agree that the Bank, at its sole discretion, is entitled to act on the instructions received from you through the Singlife App after the correct entry of your User ID, password and/or OTP, or your other biometric authentication methods such as but not limited to fingerprint scanning, facial recognition and retina scan. You further agree that the Bank will not be liable and you agree to indemnify the Bank for any losses, damages or costs the Bank incurs for acting in accordance with or based on requests/instructions received through the Singlife App, which the Bank believes emanates from you.
d) You acknowledge that the OTP is an added security feature that requires you to enter a unique 6-digit password for your online transactions and help Singlife authenticate your identity.
4. EON Services
a) Balance Inquiry. You can view your Wallet balance in the Account Tab of the App.
b) Monitoring your Transactions. Keep track of your transactions through the Singlife App. All transactions recorded on your Wallet shall be considered correct and authorized by you. If you find any discrepancies, please report it immediately to Singlife Customer Support. We will consider your transactions valid if we do not hear from you within thirty (30) calendar days from transaction date.
To be able to resolve disputed transactions, you allow Singlife to communicate to the Bank any information you provide.
For any disputed transactions, please contact the Singlife Customer Support of which the details are provided below. Please be ready with the details of your transaction when you contact Singlife. If you only contact Singlife Customer Support within thirty (30) calendar days from transaction date, the amount of the disputed item may no longer be recovered by You.
The Bank will exert its best efforts to determine whether an error occurred within a period of 90 calendar days from the time you’ve notified Singlife of the disputed transaction to investigate the complaint. Third parties, such as Visa or ATM networks, may charge the Bank an administrative fee for investigating such disputes, in which case, you shall be liable to reimburse the Bank for such administrative costs and expenses incurred. The Bank records shall be conclusive on the amount of the Cash-In / fund transfer for credit to your Account(s) despite discrepancies. You agree that in cases of conflict between your records and Ours, the Bank’s records shall at all times prevail.
c) Cash In. You may add money to your Wallet by transferring funds from your other bank account(s) or through UnionBank’s other Partner Cash-In Outlets. Our list of Partner Outlets is found at www.eonbankph.com. Our Partner Cash-In Outlets may charge a fee, and may require pre-enrollment or security codes before allowing you to Cash-In. The Bank may set minimum or maximum transaction limits as required by Partner Cash-In Outlets or as may be set under applicable laws You may also receive incoming funds from other UnionBank accounts. Please make sure that you have not exceeded your Wallet’s maximum Cash-In limit.
Cash-Ins in the form of cash or fund transfer will only be made available in your Wallet after verification or after the settlement / clearing period under existing BSP / clearing house rules and regulations, and in accordance with the terms of the Bank’s agreement with the Partner / Partner Outlets. Once the Cash-In amount has been received / collected by the Bank, you will see it reflected in your Wallet. You authorize the Bank to charge back any spurious, defective, erroneous or lost item credited to the Walletregardless of the time that has elapsed.
The Bank reserves the right to refuse to accept certain items for crediting to your Wallet or return all or part of the amount credited, at its sole discretion. The Bank shall not be responsible for resulting entries based on erroneous or illegible account numbers provided to Us, other banks or our Partner Outlets. If the Bank refuses to accept items for crediting, or accepts them conditionally, the Bank is not responsible for any consequences You may suffer therefrom. You hold the Bank free and harmless from liability for any credits / fund transfer / Cash-In made in violation of any law, rules or circulars.
d) Fund Transfers / Send Money. You may send money from your Wallet to another UnionBank account or third-party accounts with other local banks and other remittance partners provided that: (1) there are sufficient funds available in your Wallet; (2), the information provided are complete, correct and valid; and (3) the total amount of the transaction(s) do not exceed the allowable limits set by us, the Bank or you. You hereby agree that all fund transfers initiated through the App will be subject to transaction limits, cut-off periods, service fees, and other policies that may be imposed by Singlife or the Bank and by the relevant electronic funds transfer service provider or network such as, but not limited to InstaPay and PESONet. We will not be liable for any omission on your part to make all or any of the payments or for late payments made by you or due to circumstances beyond the reasonable control of the Bank. Singlife and the Bank will likewise not be liable for losses, costs or damages for failed or incorrect fund transfers resulting from errors or inaccurate information you provide us with. You guarantee and warrant the validity and legality of the underlying transactions and payments you make every time you Cash out.
e) Cash Out / Withdrawals. you may only withdraw an amount equivalent to your Account balance after deduction of applicable fees / charges. We are not responsible for any consequences which You may suffer from any withdrawals or attempted withdrawals made on your Wallet.
f) Refunds or Cancellation of Transactions. You agree that in the event that your purchase transaction is cancelled and/or your EON Account is due for a refund (that is, the merchant has approved the refund or cancellation request), the amount that the Bank shall credit back is based on the received credit memo or credit instructions from the merchant or remitting bank. You agree that the Bank is not liable for any loss or liability caused to you or any party because of the cancellation or refund, or any delay in its crediting that is not attributable to the gross negligence or fault of the Bank.
g) Keep your Singlife Account Active. You can use your Singlife Wallet to transfermoney to your Singlife Account, where it will earn interest and pay for your policy/iespremiums.
h) Access your Singlife Account balance and its policy cash benefits. You can cash out your policy cash benefits and Singlife Account balance through your Wallet and withdraw them using the Singlife Card.
i) Renewing or Replacing your Singlife Card. Your Singlife Card is valid from the date of its issuance or renewal up to the last day of the month indicated in the front of the Card (the “Expiry Date”). If your Card is captured and can no longer be claimed from the ATM, or in case you are unable to use it due to expiry, unintended damage, or defect, contact Singlife Customer Support so that We can provide you with a new Singlife Card, which you can link to your Wallet through the Singlife App.
j) Reporting your Lost Singlife Card. You are responsible for your Singlife Card. If it is lost or stolen, immediately report this to Singlife Customer Support, the details of which are found below. Your failure to report shall result in all charges being considered binding on you and for your account.
5. Contact Support
If you need further assistance, or have any questions on you Wallet you may contact Singlife at [email protected] or +632 8299 3737. You understand and agree that in order for us to assist and provide service or address your concern, your Wallet details and transactions will be disclosed by the Bank to Singlife. In the same manner, you authorize Singlife to communicate any relevant personal that may be required by the Bank.
6. Accuracy of Information
We will use reasonable efforts to ensure the accuracy of information accessed through the App but We do not warrant that the information will be free from error. If you notice an error in the information supplied to you through the App or by the use of any of the services, please advise us as soon as possible. We will endeavor to correct the error promptly on a “best efforts basis” and adjust any fees or charges arising out of the error.
7. Privacy Policy
We and the Bank will be sharing your personal data and Wallet details and transactions (“Personal Information”) to each other in order to provide you our committed service. For more information about what we share and how we use and process your Personal Information, please read through both Our Privacy Policies. We have our own Privacy Policies which you agree will govern Our relationship with you. Our Privacy Policies also contain your rights as data subject. Your use of the App will be deemed as your consent to both Singlife and the Bank’s Privacy Policies. Should you disagree with how We handle your customer data, you may discontinue the use of the Singlife Wallet or any of our services anytime. UnionBank’s Privacy Policy is found here and Singlife’s Privacy Policy may be accessed here.
8. Additional Feathers and Services
a) We may, from time to time, introduce new wallet features and services. We will inform you of these new features and services. The terms stated here will automatically apply to your use of these new features and services in addition to the specific terms and conditions that will be made available to you.
b) We do not guarantee the continuous availability of all Wallet services mentioned in this Agreement. We reserve the right to terminate or suspend, in its sole discretion, any of the services and features in the Wallet.
9. Liability
a) Your acceptance of these Terms and Conditions and/or your continued use of the Wallet means that you agree that We will not be liable for any loss or damage of whatever nature suffered by you or any third party in the following instances:
i) Your use or misuse of the Wallet or the Singlife Card;
ii) Any fraud or misrepresentation on your submissions or reports to Us whether or not We relied on such misrepresentation;
iii) Incomplete, inaccurate, incorrect information you provide Us;
iv) Your transactions;
v) For the Wallet, the effect of the provisions of Republic Act No. 1405 or the Bank Secrecy Law, as amended; applicable provisions of the General Banking Act and pertinent laws or regulations related to said law or these Terms and Conditions;
vi) Insufficient funding of the Wallet;
vii) Bad faith, fraud or misrepresentation on Your part or on the part of any third party;
viii) Errors, breakdown or failure of third-party systems which the Bank is connected to or used by the Bank in relation to the Wallet, Singlife Card or EON Services
b) We are not liable for any failure to provide any service or to perform any obligation, or for any loss, damage, injury or claim of whatever nature that You may suffer in connection with the use of the Bank’s systems, due to any fortuitous event, typhoons, floods, public disturbances, pandemics and calamities or any act or circumstance beyond Our control, such as but not limited to:
i) Prolonged
ii) Inaccurate, incomplete or delayed information received by you due to disruption or failure of any communication device
10. Service Charges and Taxes
a) Charges that may be imposed when availing of services and/or products using your Singlife Wallet and the Singlife Card will be deducted directly from your Singlife Wallet balance as these are incurred. The details of fees are found below.
Charges |
Amount |
App Access Fee |
Php 10/month |
Card Replacement Fee |
Php 300 |
b) You agree to pay the charges that may be imposed by the Bank when availing of EON Services, using Partner Outlets and the standard SMS and call rates that will apply. We will deduct the charges directly from your Wallet as these are incurred. You have the obligation to keep updating yourself of these fees and charges and your use of the Wallet or the Partner Outlets shall be equivalent to your acceptance of said terms, fees and charges.
c) You acknowledge that there may be parties other than UnionBank, including third-party ATM operators and other third parties, that may subsequently have a role in the provision of the Wallet, Card or services related to its use and thus may impose other fees for the use of the Wallet/Card or services related to it. Such fees will be disclosed by the party charging it at the time the services are used and you authorize the Bank to deduct such fees from the Card. Unless UnionBank has waived said amount, UnionBank shall charge you a fee to the Cardholder in respect of each cash withdrawal made using the Card for which a charge is made by Visa or Bancnet in accordance with UnionBank's schedule of fees from time to time then in force
d) You are also responsible for paying any and all taxes due or may be imposed from your use of the Wallet. You authorize the Bank to automatically charge or debit your Wallet for any and all such taxes due and required to be withheld by the Bank. Further, should there be any credits that is later conclusively determined to be erroneous,you agree that the Bank has the right to debit your Wallet any amount(s) previously credited.
e) As long as at least one of your policies is active, you can access your Singlife Account and the Wallet through the Singlife App without additional costs. However, if all of your policies have lapsed due to nonpayment of premium, you may continue to view and use your Wallet through the Singlife App for one (1) year counted from the lapse of your policy, subject to the following terms:
i) Your payment of the Singlife App Access Fee of Ten Pesos (Php10) per month, which Singlife will start charging you beginning the 31st calendar day that your Singlife Account has been suspended. For this purpose, you agree and authorize the Bank to automatically deduct the Access Fee directly from your Wallet balance and credit the amount to Singlife.
ii) There must be sufficient balance in your Wallet to cover the Access Fee and any and all fees and charges which the Bank may impose for EON Services.
iii) If your Wallet balance remains at zero (PhP 0) for a period of two (2) months from the suspension of your Singlife Account thereby resulting in the Bank’s inability to debit the Access Fee and remit the same to Singlife, you understand and agree that Singlife may request the Bank to terminate the Wallet in accordance with Sec. 9(c).
f) If your Singlife Account is still suspended after the first year and you still have funds inside the Singlife Wallet you may opt to:
i) withdraw all the funds in your Wallet using the Singlife Card in any Bancnetaccredited ATM; or
ii) transfer all funds from your Singlife Wallet to your nominated account with other banks or another UnionBank account; or
iii) transition to a regular EON account by contacting us at [email protected] or +632 8299 3737
iv) If you decide to reactivate your Singlife Account or avail of a new policy with Singlife after the first year of the suspension of your Singlife Account, you will have to apply for a new Wallet using the App.
g) We reserve the right to change the charges, fees, or other terms described in this App Terms. When changes are made and/or fees, charges or other material terms are added, Singlife will, as far as practicable, inform of such changes either by sending a notice to you at the address you have provided or send you an email. We may also choose to publish such changes on our website and it is your responsibility to make sure you are updated on them.
h) You may choose to decline these charges by discontinuing your Singlife Wallet to which these charges apply but charges already incurred will remain due from and payable by you. We also reserve the option, in our business judgment, to waive, reduce or reverse charges or fees for individual situations.
11. Termination of the Wallet
a. Your Wallet may be deactivated or terminated by you, the Bank or Singlife. You may request for termination of the Wallet by placing a request through our Customer Service email. Until your request is in progress, you are responsible for any transactions made on your account/s prior to the time of cancellation of the Wallet.
b. You agree that the Bank may terminate your Wallet in the following instances
i. If the Wallet has insufficient funds to pay for any charges or fees that the Bank may impose from time to time;
ii. If the Wallet exceeds the allowable Cash-In limits;
iii. If We discover that a Wallet is fictitious, contains misrepresentations or falsities, or should you fail to provide any information that the Bank needs;
iv. If the Wallet is compromised, or is in any way being used or suspected to be used for any fraudulent, criminal or unlawful activities or transactions;
v. If in the Bank’s perception, the Wallet exposes the Bank to any kind of risk such as but not limited to financial, operational, legal, reputational, regulatory or other risks;
vi. If in the Bank’s sole determination, there exists circumstances that warrant termination or closure of the Wallet such as but not limited to you failing to abide by these Terms and Conditions.
c. Singlife may request the Bank to terminate your Wallet in the following instances:
i) If Singlife learns of your death, bankruptcy or lack of legal capacity.
ii) If your Singlife Account is suspended as set forth in Sec. 8(e) of these Terms and Conditions.
d. In all instances of Wallet termination and/or Card deactivation, you agree to hold the Bank and Singlife and harmless from any and all liabilities, claims and demands of whatever kind or nature arising from the closure of your Wallet whether done by You or Us, and/or deactivation of your Card. You also agree to hold the Bank free and harmless should we report the Wallet closure and the reasons therefor to BSP, Bankers Association of the Philippines (BAP) or any other central monitoring entity or bureau established by the BAP or BSP.
12. Change of Vendor, Supplier, or Bank Partner
a) Should the cobranding arrangement between Singlife and UnionBank cease to exist. Singlife will send you notification of such change and help facilitate the transfer of funds in your Wallet to Singlife’s new cobrand partner. Singlife will provide you with the documents required by the Bank to comply with your fund transfer instruction. Singlife remains fully liable to you for funds that are not in your Wallet but remain in the Singlife Account.
b) Despite the transfer to the new cobrand partner, you may notify Singlife and Singlife will direct your request to open a UnionBank account with UnionBank should you wish to continue using a UnionBank account.
13. Compliance with existing laws.
Union Bank of the Philippines is regulated and supervised by the Bangko Sentral ng Pilipinas (BSP) with email address [email protected]
14. Amendment
The Bank may amend or change provisions in these Terms and Conditions at any time. You will be notified of any change in the manner provided by applicable law prior to the effective date of the change. If the change is made for security purposes and to prevent further losses, the Bank can implement such change without prior notice. Your continued use of your Wallet signifies your knowledge and agreement of any changes We implement.