eWallet Protection mini
eWallet mini protects your:
Multi-purpose Store Value Facilities (SVFs) and credit cards
Personalised Octopus or Octopus linked to Automatic Add Value Service (“AAVS”)
We cover you from:
Stolen purchases from your e-wallet account arising from identity theft or your insured Octopus
Unauthorised transactions from your credit card
Fraudulent transactions settled by insured eWallets from your electronic devices
What exactly is protected in my e-wallets
Under our Avo eWallet Protection mini, your e-wallet coverage includes…
Credit cards, whether your card is a physical one, or has been added to your Apple Pay, Google Pay or Samsung Pay e-wallets
Electronic wallet services from a licensed Multi-purpose SVF, such as:
- Octopus Wallet
- PayMe from HSBC
- WeChat Pay HK
As well as your Octopus!
Is my Octopus covered?
We’ll cover your Octopus if it’s a Personalised Octopus or an Octopus that’s linked to the Automatic Add Value Service (AAVS) that’s able to use the Lost Octopus Reporting Service
- Personalised On-Loan or Sold Octopus
- On-Load or Sold Octopus linked to AAVS
- Personalised Octopus on Apple Pay / Smart Octopus in Samsung Pay
- Octopus on Apple Pay / Smart Octopus in Samsung Pay with AAVS
- You must be the AAVS account holder and the Octopus holder
Reporting card loss may incur other charges, please refer to Octopus Cards Limited website for more details and the related fee will not be covered.
Annual Benefit Amount
- eWallet Protection – Annual Benefit Amount$2,500We will reimburse you the actual and irrecoverable monetary loss to your eWallet(s) and/or credit card(s) due to unauthorized transactions from identity theft up to 15 days prior to you first reporting of such loss to the licensed eWallet operators by the Hong Kong Monetary Authority (“HKMA”)
- Octopus Extension – Sub-limit*$500We will extend to reimburse the actual and irrecoverable monetary loss resulting from the unauthorized use of your insured octopus within the first 3 hours you have reported loss to Octopus Cards Limited. You can claim once during the period of insurance
*Sub-limit is inclusive in the annual benefit amount
The above is intended as a general summary only. Please refer to the Policy Wordings for details.
- We cover your verified e-wallets issued by payment service providers under the licensing regime of HKMA.
- Insured Octopus includes Personalized Octopus and/or Octopus linked to Automatic Add Value Service (“AAVS”) and you must be the AAVS account holder and the Octopus holder.
- Supplementary card is not covered.
- We will reimburse you the related financial loss up to annual benefit amount within the insurance period.
- Q1. What's covered in the eWallet Protection (mini version)?keyboard_arrow_downWe’ll cover any unauthorized transactions and lost money in your e-wallets and credit cards before the loss has been reported to the relevant service providers. We’ll also cover any unauthorized spending and monetary loss you’re liable for after reporting your lost Octopus to Octopus Cards Limited. Please see the Policy Wordings for details.
- Q2. What is e-wallet?keyboard_arrow_downMost people think of e-wallet as a digital wallet that can be used for electronic payments. E-wallet under the Hong Kong Monetary Authority definition is a “non-device network-based accounts operating by licensed Multi-purpose Store Value Facility Licensees with which you can store value for making payments for online purchases or for P2P fund transfers.” To learn more, check out the HKMA page here.
- Q3. Are all e-wallets covered?keyboard_arrow_downWe’ll cover verified eWallet accounts that are registered with your personal information (e.g. name, birth date, ID card), including your personalized and/or linked to Automatic Add Value Service physical Octopus. We do not cover basic accounts, meaning those that are only registered with mobile numbers and email addresses as well as device-based SVF (e.g. the valued is stored in an electronic chip on a card or physical device such as watches and ornaments). We will only cover eWallets that are operated by licensees under HKMA as well.
- Q4. Are all types of Octopus covered?keyboard_arrow_downWe’ll cover Personalized Octopus under your name or Octopus linked to the Automatic Add Value Service (“AAVS”) where you are the AAVS account holder as well as the Octopus holder. AAVS can be used for different types of Octopus, including On-Loan Octopus, Sold Octopus, Octopus on Apple Pay and Smart Octopus in Samsung Pay.
- Q5. Is Cross Border Octopus covered?keyboard_arrow_downWe’ll cover your monetary loss in Hong Kong if the HKD e-purse of your Cross Border Octopus has been linked to AAVS and you are both the AAVS account holder as well as the Octopus holder.
- Q6. Do you cover any unauthorized transactions to my personalized Octopus account before I report the loss to Octopus Cards Limited?keyboard_arrow_downNo, unfortunately we don’t cover any losses before you report the loss to Octopus Cards Limited. We shall reimburse you the actual financial loss within the first 3 hours after you have successfully reported the loss to Octopus Cards Limited.
All brand name, registered trade marks, photos are property of their respective owners. The above machine models are used for reference purpose only.
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