SimplyPay

Make deposit payments to any local bank account for your rent, school tuition, professional fees and more.

Convenience at your fingertips

Our new credit card feature, SimplyPay, lets you conveniently pay with a credit card for expenses that require bank deposit payments such as rent, business suppliers, tuition fees, professional service fees, and even send financial support to your family.

Features

Pay in full, installment with monthly add-on rate for up to 12 months

 

Principal cardholders in good credit standing may pay their billers to any local bank account

 

Has a credit limit of up to P500,000

 

You can use this feature for:

  • Rent
  • Tuition Fees
  • Insurance Payments
  • Professional Services
  • Business Suppliers
  • Utilities
  • Hospital Bills

SimplyPay is not just limited to purchases, you can also use this feature to send money to your loved ones. Use it to send financial support to your family in the province or your children who reside in Metro Manila.

Eligibility

Principal credit cardholders whose card status is active and current.

  • Classic
  • Gold
  • Platinum
  • World
  • Cashback
Fees and Charges

What are the Charges of SB SimplyPay?

The minimum transaction amount for straight payment is Php1,000.00 while Php3,000 for installment payment.

Payment Option

Fee / Add-On Rate

Straight Payment 3.00%
Installment

3 months – 2.25%

6 months – 2.00%

9 months – 1.93%

12 months – 1.91%

*Fees and Add-On Rates will be automatically charged against the cardholder’s account once processed.

Terms and Conditions

GENERAL TERMS AND CONDITIONS

SimplyPay is a form of payment facility wherein principal cardholders in good credit standing may pay for the fees, dues and premiums such as tuition fees, rent, association dues and more using their Security Bank Mastercard credit card, with applicable interest and other fees to be paid by either on straight or installment basis.

The SimplyPay availment shall be subject to the verification and credit approval of Security Bank.

Where Security Bank approves a SimplyPay availment, the total SimplyPay amount shall be subject to these terms and conditions and all applicable terms and conditions under the Terms and Conditions Governing the Issuance and Use of Security Bank Mastercard Credit Card (“Cards Terms and Conditions”).

Eligibility

The Cardholder must be a principal Security Bank credit cardholder and must be in good credit standing.

The total amount of SimplyPay availed (“Total SimplyPay Amount”) should not be less than One Thousand Pesos (P1,000) for the regular straight transactions and Three Thousand Pesos (P3,000) for installment transactions.

Other Terms & Conditions

Cardholder must ensure that the biller’s bank account is still valid and all the provided details are accurate and complete. Security Bank does not conduct verification of payee’s details and will not be responsible should there be any error or failure of payment is requested to your biller due to an incorrectly provided detail such as Account Name, Account Number and/or Amount that may eventually result to your loss, damage.

Eligibility

The cardholder shall be required to provide the following:

Cardholder Details Payment Instruction Details

Full Name

Card Number (First 6 and Last 4)

Card Expiry Number

Registered Mobile Number

Registered E-mail Address

Recipient’s Name

Bank Name

Bank Account Name

Bank Account Number

Amount

Purpose of Payment

The cardholder shall be limited to a maximum aggregate SimplyPay transaction amount per month of Php500,000.

Other Terms & Conditions

The following are the fees for every SimplyPay transaction:

Straight: 3%

Installment: See the table below.

Tenor 3 6 9 12
Monthly Add-on Rate 2.25% 2.00% 1.93% 1.91%
Factor Rate 0.3558 0.1867 0.1304 0.1024

Security Bank has the absolute and exclusive right to approve or reject all SimplyPay availments.

Once a SimplyPay availment is approved, the proceeds of the SimplyPay availments shall be credited to the Payee’s designated bank account.

Security Bank is not obliged to inform the Payee and the Payee’s bank that payment to their account has been credited for the request of our Cardholders. Moreover, it is highly recommended that Cardholders shall inform their Payee or Biller that a payment has been a credit to their account provided with necessary details such as Payment Amount, Account Number, Account Name, Date, and Time of Payment.

Once the SimplyPay availment with an installment as payment term is approved, the full amount of SimplyPay transaction and total add-on fee will be automatically deducted from the cardholder’s available credit limit. The monthly amortizations shall be posted on the Cardholder’s monthly statement of account. These shall form part of the total outstanding balance due in the Cardholder’s statement of account. If the Cardholder revolves any portion of the total outstanding balance due in any given month, the account shall be subject to the computation of the Finance Charge and Late Payment Charge (if applicable) for that month.

If a portion of the SimplyPay remains unpaid after the chosen repayment period, the corresponding unpaid principal amount shall be charged the prevailing, standard monthly finance charges of the applicable Security Bank Mastercard credit card. Should any portion of the monthly add-on interest due in any given month remains unpaid, the corresponding late payment and finance charges under the SimplyPay plan shall be applicable.

Once approved, the SimplyPay transaction can no longer be canceled and/or reversed.

Security Bank shall not be liable for the delinquency of the Cardholder’s account to their billers, for interest, or any penalty charge imposed upon the Cardholder as a result of the rejection by Security Bank of his/her SimplyPay availment.

The add-on rates are determined by Security Bank and may be subject to change in accordance with the prevailing market rates for similar transactions and terms.

By submitting the form and/or application, the Cardholder hereby agrees that he/she is applying for the SimplyPay Facility at regular fees and/or add-on rates.

In the event that a Cardholder ceases to be of good credit standing through any of the following: (i) suspension, (ii) cancellation, or (iii) non-renewal of Security Bank credit card due to non-payment or breach of these terms and conditions, the Terms and Conditions Governing the Issuance and Use of Security Bank Mastercard Credit Card (“Cards Terms and Conditions”) and all related provisions of the Security Bank In-house Installment Plan shall be applicable, and all of the unpaid installment terms, as well as other account balances, shall immediately become due and demandable.

Frequently Asked Questions

1. How can I avail of SimplyPay?

You can avail of SimplyPay through our online form: www.securitybank.com/personal/credit-cards/installment-and-payments/simplypay/form/ or through our Customer Service Hotline (02) 8887 9188.

2. Who can avail of the SB SimplyPay Facility?

All Security Bank Mastercard credit card products can be used to avail of Security Bank’s SimplyPay facility.

3. Will I receive a summary of my request?

Upon submitting the form, the cardholder will get a notification via email to acknowledge the transaction along with the details that he/she provided.

4. How will I know if the request was processed/declined?

The cardholder will get a notification via SMS/email if the SimplyPay transaction is approved or declined.

When a transaction has been processed:

Your SimplyPay payment request amounting to <px,xxx> with reference number xxxxxxxxxx has been completely processed.

When a transaction is declined:

We regret to inform you that we cannot process your SimplyPay payment request to amounting to <px,xxx> using your Security Bank Mastercard ending in XXXX with reference number xxxxxxxxxx this time due to insufficient credit limit.

To check your balance, visit https://www.securitybank.com/blog/sms-card-services/. Feel free to send us your request again.

5. What are the Charges of SB SimplyPay?

The minimum transaction amount for straight payment is Php1,000 while Php3,000 for installment payment.

Fees and Add-On Rates will be automatically charged against the cardholder’s account once processed.

Additional FAQs

1. Can anyone who is a Security Bank cardholder avail of the SimplyPay facility?

The cardholder must be a principal Security Bank credit cardholder and must be in good credit standing.

2. Is there a minimum and maximum amount for the SimplyPay facility that I can avail of?

The minimum amount required to avail of SimplyPay should not be less than Php1,000 for straight and Php3,000 for installment while the maximum availment amount per day is Php500,000.

3. How many days is the TAT to process my SimplyPay availment?

We will process your SimplyPay availment within 6 days after we receive your submitted form.

4. What if I entered the wrong account number and or account name, will Security Bank conduct verification of details before proceeding with the transaction?

Unfortunately, the Bank does not conduct verification of payee’s details and will not be responsible should there be any error or failure of payment is requested to your biller due to incorrect information provided such as Account Name, Account Number and/or Amount that may eventually result to your loss and damage. The cardholder must ensure that the biller’s bank account is still valid and details are accurate and complete before submitting the request.

5. What if I entered the wrong details, such as the account number and transaction was successful, but I want it canceled or reversed, can I get a refund?

Upon submission of the form, the cardholder will receive a notification via email to acknowledge the transaction along with the details that he/she provided. In case the cardholder wishes to change or cancel the request, he/she can call our Customer Service Hotline within 24 hours from the submission of the form. Once we have approved the SimplyPay transaction, the Bank can no longer cancel or reverse it. Please be advised that for approved SimplyPay availments in installment, the full amount of SimplyPay transaction and total add-on fee will be automatically earmarked from the cardholder’s available credit limit.

6. What if my transaction gets rejected due to insufficient balance, will I get a notification from Security Bank?

We will be sending an SMS/email notification for the declined SimplyPay transactions.

7. Will I also get a notification if my transaction is approved?

Yes, you will receive an SMS/email notification if your SimplyPay availment is already approved.

8. Is my SimplyPay availment 100% approved?

No, 100% is not guaranteed as your availment is still subject to approval.

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