Yape reimburses you up to S/3,500 in cases of theft or fraud: this is how you can access it

Yapethe popular digital wallet of Credit Bank of Peru (BCP), has launched an affordable insurance policy that promises to return up to S/3,500 in cases of theft or fraud. With nearly 15 million users across the country, Yape has become an indispensable tool for carrying out everyday transactions and payments in businesses. This new security measure seeks to offer an additional layer of financial protection to its users, ensuring that their money is protected against possible criminal incidents.

Yape’s insurance, known as ‘Safer Money’, costs only S/4.99 per month and provides coverage in three specific situations. Users can easily activate this protection through the app, thus ensuring the safety of their funds. Below, learn how to acquire it and in which cases the cashback does not apply.

Yape: What is the ‘Safer Money’ insurance?

Yape’s ‘Safer Money’ insurance is designed to protect its users’ finances. For only S/4.99 per month, customers can insure themselves against losses due to theft or fraud, with a reimbursement of up to S/3,500 per year. The first insurance payment will be made within the next three business days. This payment will be debited from the savings account or debit card linked to your Yape.

What is Yape insurance coverage?

He Yape insurance covers three specific situations, each with an independent reimbursement limit. The maximum total refund amount is S/3,500. The coverages are:

1. Unrecognized purchases: up to S/1,000 in national stores and online, including Yape POS and QR operations, as well as purchases with BCP credit or debit cards due to theft, robbery, loss or online fraud.
2. Unrecognized transfers: up to S/1,500 made through BCP virtual channels, including Yape, as a result of theft, robbery, loss or internet fraud.
3. Unrecognized cash withdrawals: up to S/1,000 withdrawn from ATMs and BCP agents due to the forced use of BCP credit or debit cards within the national territory.

Yape Insurance: How to get it?

Getting Yape insurance is quick and easy. Here are the steps to activate this monthly protection:

1. Download the Yape app: If you don’t have Yape yet, download it from the App Store or Google Play.
2. Registering on Yape: If you are a new user, please register by following the instructions in the application.
3. Access the security section: In the app, go to the security or protection section.
4. Activate protection: Select the option to activate the protection that returns up to S/3,500 and follow the instructions.
5. Make subscription payment: cancel the monthly subscription of S/4.99 to activate protection.

What cases are not covered by Yape insurance?

It is important to know the insurance exclusions to avoid misunderstandings. Yape insurance does not cover:

• Unrecognized events that occurred before the insurance was taken out.
• Events caused by telephone fraud.
• Cloning, forgery or adulteration of BCP cards.
• Additional credit cards without the cardholder’s name.
• Cards from other financial institutions.
• Theft or loss of money withdrawn from an ATM.
• Accidents under the influence of narcotics, drugs or alcohol.

What other banks can you have a Yape account with?

• My bank
• Huancayo Box
• Ica box
• Piura Box
• Sullana Box
• Tacna Box
• Trujillo Box
• Metropolitan Box