Announcements
Dec 14, 2023

Good news! BPI has partnered with BPI MS Insurance to offer Personal Cyber Insurance exclusively to BPI Debit Mastercard® holders. 

With Personal Cyber Insurance, cardholders can transact with greater confidence knowing that they are covered from unauthorized and fraudulent transactions, and identity theft. It covers the following: 

 

E-commerce Purchase Protection 

Get reimbursed for online purchases on your BPI Debit Mastercard® if your items are accidentally damaged or your purchases are undelivered by a fraudulent seller. 

Electronic Funds Transfer Fraud 

Get reimbursed for costs such as legal charges, which may result from identity theft and the efforts to clear your name. 

Plus, enjoy the added advantage of online fraud protection in case of card loss, if you report the lost or stolen card within 24 hours of discovery and the unauthorized transactions were made within 12 hours prior to reporting of the lost/stolen card. 

Identity Theft 

Get reimbursed for costs such as legal charges, which may result from identity theft and the efforts to clear your name. 

 

Visit the Personal Cyber Insurance website to avail.

 

Thank you. 

Benefits and exclusions of Personal Cyber Insurance

Personal Cyber Insurance provides a comprehensive range of benefits to safeguard your online activities and financial assets against cyber threats.

Here's a summary of the key benefits:

Benefit

Inclusion

Notable Exclusions

E-commerce Purchase Protection

Get reimbursed for online purchases on your BPI Debit Mastercard® if your items are accidentally damaged or your purchases are undelivered by a fraudulent seller. 

Excludes:

  •  Counterfeit or fake products 
  • Animals or plant life 
  • ·Softwares, datafiles, online subscriptions 

 

For the complete details, please refer on Section IV of the Personal Cyber Insurance (PCI) Insuring Terms and Conditions for the complete list of exclusions. 

Electronic Funds Transfer Fraud

Get reimbursed for unauthorized fund transfers carried out by an external party using your BPI Debit Mastercard® account.  

Plus, enjoy the added advantage of online fraud protection in case of card loss, if you report the lost or stolen card within 24 hours of discovery and the unauthorized transactions were made within 12 hours prior to reporting of the lost/stolen card. 

Excludes:

  • Confidence scams such as Vishing and Smishing (non-vanity SMS numbers) 
  •  Transactions from lost or stolen plastic card beyond 12 hours prior to reporting of the lost card (lost card incident must be reported within 24 hours). 

 

For the complete details, please refer on Section IV of the Personal Cyber Insurance (PCI) Insuring Terms and Conditions for the complete list of exclusions. 

Identity Theft

Get reimbursed for costs such as legal charges, which may result from identity theft and the efforts to clear your name. 

Excludes:

  • Confidence scams such as Vishing and Smishing (outside SMS channel using short code) 
  •  Voluntary disclosure 

 

For the complete details, please refer on Section IV of the Personal Cyber Insurance (PCI) Insuring Terms and Conditions for the complete list of exclusions. 

 

For the complete details, please refer to Personal Cyber Insurance (PCI) Insuring Terms and Conditions

Examples of scenarios where this insurance would be beneficial

Sample scenario per benefit are as follows: 

 

Benefit

Sample Scenario

E-commerce Purchase Protection

You buy something online, but the website turns out to be fraudulent. You never receive the item, and you can't get your money back. BPI MS may pay you back for the item you didn't get, subject to coverage limits of the plan. 

 

Example:

You see an ad for a new smartphone on social media and decide to buy it. You click on the link in the ad and are taken to a website that looks like a legitimate electronics store. You enter your personal information and credit card details and complete the purchase. 

 

However, a few weeks later, you still haven't received your smartphone. You try to contact the store, but you can't get anyone to respond. You realize that you've been scammed. 

 

What Personal Cyber Insurance can do:

You can file a claim with BPI MS under the E-commerce Purchase Protection benefit. If your claim is approved, BPI MS will reimburse you for the cost of the smartphone, subject to coverage limits of the plan. 

Electronic Funds Transfer Fraud

Someone uses your BPI Debit Mastercard® without your permission. BPI MS may pay you back for the money that was taken, subject to the coverage limits of the plan. 

 

Example:

You're at a restaurant and you use your BPI Debit Mastercard® to pay for your meal. The waiter takes your card and disappears for a while. When he comes back, he hands you your card and a receipt. 

 

A few days later, you check your bank account and see that there have been several unauthorized charges made to your card. You realize that your card must have been cloned while you were at the restaurant. 

 

What Personal Cyber Insurance can do:

You can file a claim with BPI MS under the Electronic Funds Transfer Fraud benefit. If your claim is approved, BPI MS will reimburse you for the unauthorized charges, subject to coverage limits of the plan. 

Identity Theft

A fraudster pretends to be you and gets loans in your name. You have to spend money to clear your name. BPI MS may pay you back for some of the expenses, including legal fees. 

 

Example:

You receive a letter from a bank stating that you have an outstanding loan balance. You're confused because you've never taken out a loan from that bank. You call the bank, and they tell you that someone has opened a loan account in your name without your permission. 

 

You have to spend money on legal fees to clear your name. 

 

What Personal Cyber Insurance can do:

You can file a claim with BPI MS under the Identity Theft benefit. If your claim is approved, BPI MS may reimburse you for some of your legal expenses, subject to the coverage limits of the plan. 

Pricing options for Personal Cyber Insurance

The insurance offers three protection levels with different premium and coverage limits: 

Plan Name

Premium

Electronic Funds Transfer Fraud

E-commerce Purchase Protection

Identity Theft

Limit per Occurrence

Liability Aggregate

Limit per Occurrence

Liability Aggregate

Limit per Occurrence

Liability Aggregate

Basic

Php 700

Php 10,000

Php 20,000

Php 10,000

Php 20,000

Php 10,000

Php 20,000

Prime

Php 1,100

Php 20,000

Php 60,000

Php 20,000

Php 60,000

Php 20,000

Php 60,000

Elite

Php 1,750

Php 50,000

Php 150,000

Php 50,000

Php 150,000

Php 50,000

Php 150,000

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