Embedded Product Disclosure Sheet

Accept Terms and Conditions

Introduction

This Product Disclosure Sheet (PDS) is designed to provide you with some key information on the features of Setel Application. Please make sure you also read the Setel App Usage Terms and Conditions before you sign up for a Setel account as these terms and conditions will be binding on you.

A. Know your Setel App

Setel Application (“App”) consist of Setel Wallet which is a prepayment service offered by Setel Ventures Sdn Bhd (“Setel”) that allows you to pay for fuel purchases at PETRONAS stations, Kedai Mesra and Cafe Mesra items, road tax, motor insurance, auto assistance, parking, electric vehicle charging, DuitNow transactions, and more at participating merchants’ physical or online store. Please note that Setel Wallet is not a deposit account and will not earn any interest or profit.

B. Know your obligations

1. What are the features of this product?

Setel App provide users with key features such as Setel Wallet, Family Wallet, CardTerus, Auto Assistance, Setel Parking Affiliate, Motor Insurance, Road Tax Renewal, Cardless PETRONAS SmartPay (please refer to Setel Help – Cardless SmartPay for more info), DuitNow QR transfer (please refer to DuitNow QR Terms and Conditions | Setel for more info) and National Addressing Database (NAD) and DuitNow Transfer (please refer to NAD and DuitNow Transfer Terms and Conditions | Setel for more info).
For Setel Wallet and Family Wallet:
1. The reload can be done via credit card, debit card, FPX, Boost Wallet, GrabPay, ShopeePay, Setel Vouchers or Mesra points;
2. The reload can be automated using a credit card and/or debit card with the auto top-up feature and the cap on the reload is based on the threshold set or a one-off reload transaction limit; and
3. You can link Setel Wallet and Family Wallet to your preferred credit and/or debit cards to your Setel Wallet and Family Wallet.
For Motor Insurance:
1. Setel is an intermediary of Generali Insurance Malaysia Berhad, Etiqa General Insurance Berhad, Etiqa General Takaful Berhad, and Syarikat Takaful Malaysia Am Berhad. The benefit(s) payable under eligible products are protected by PIDM up to limits. Please refer to their brochure or visit PIDM’s website.
2. By purchasing motor insurance or takaful through Setel, you are subject to the terms and conditions and the full Product Disclosure Sheet (PDS) and Policy Wording of the respective insurance provider. It is your obligation to read, understand the specific PDS and Policy Wording for the plan you select. Links to the documents for plans currently offered on Setel are provided below:
  1. Generali Private Car Insurance: Product Disclosure Sheet | Policy Wording
  2. Generali Motorcycle Insurance: Product Disclosure Sheet | Policy Wording
  3. Etiqa Private Car Insurance: Product Disclosure Sheet | Policy Wording
  4. Etiqa Private Car Takaful: Product Disclosure Sheet | Policy Wording
  5. Takaful Malaysia Private Car: Product Disclosure Sheet | Policy Wording
  6. Takaful Malaysia Motorcycle: Product Disclosure Sheet | Policy Wording

NOTE: Please read the Setel App Usage Terms and Conditions for further details on the above features.

2. What are the key terms of the product?

You must be 18 or older to register and parents are fully responsible for minors using the Setel App.
To register for an account, you are required to provide certain personal information such as your mobile telephone number, full name, IC type, IC number and ensure that your personal information is accurate.
You are responsible for keeping your account secure and informing Setel of any suspicious activity.
You can reload up to RM500 in Setel Wallet upon registering an account and up to RM5,000 upon successful completion of account verification process (e-KYC), except for minors.
Setel Wallet has a transaction limit of RM500, which increases to RM2,000 upon completion of e-KYC, and a daily spending cap of RM2,000 (excluding Setel Wallet reloads).
You must ensure that you have sufficient balance before conducting any transaction using the Setel app.

NOTE: Please read the Setel App Usage Terms and Conditions for the full terms and conditions governing the use of the Setel App including your obligations before registration of your account.

3. What are the major risks?

When using the Setel App, you are advised to:
1. not to share your passcode or OTP to a third party to avoid any fraudulent risks;
2. avoid using unsecured public networks to prevent unauthorised access to personal data;
3. always keep your Setel App up to date with the latest app version to minimise exposure to cyber risk;
4. not to click on suspicious links or attachments in emails or messages that claim to be from Setel;
5. ensure the accuracy of recipient information when initiating DuitNow P2P transfers; and
6. review your payment history regularly to ensure transactions performed are correct.
If you suspect your account or information is at risk due to the following, contact us immediately through the channels listed below:
1. you have forgotten your username and password;
2. you have lost your mobile device linking to your Setel App;
3. your account has been assessed by a third party; and
4. you notice any unauthorised transactions or unusual activity on your Setel account.

4. What do I need to do if there are changes to my contact details?

You may update your latest information and contact details in the Setel App or submit them via e-mail to hello@setel.com to ensure accurate communication.

5. Other e-money products available

Currently, there are no other e-money products offered by Setel.

C. Know the relevant fees

Setel does not charge any fees for reloads via debit card, online banking, or other e-Wallet providers, other than the fee below.

Type of Fee	Fees and Charges
Convenience fee for credit card top ups starting from 5th December 2024. Auto top-ups and CardTerus purchases are exempted until further notice. In the event of a refund, the convenience fee will not be refunded.*	1% of the reload amount

If you have any questions about your Setel App or need to contact us immediately, you can:

Call or WhatsApp us at +60 18-988 1333
Email us at: hello@setel.com
Live Chat with us on the Setel App from Monday to Sunday 7.00am to 11.00pm

More information is available on our website at www.setel.com

NOTE:

The information provided in this Product Disclosure Sheet is issued as of 14 November 2024 and will be valid until the next periodical review.
Setel will never ask for your personal details via e-mail or SMS in order for you to access the product information. Please be cautious of any suspicious messages requesting such details.
For financial products offered via Setel App, we are not required to provide you with a physical copy of the product disclosure.