For active members of Social Security System (SSS) who have Unified Multi-purpose Identification Cards, it would be much easier to withdraw their loans and benefits. 34,000 SSS members may now withdraw cash using their UMID Cards through automated teller machines (ATM).
According to SSS President and Chief Executive Emmanuel F. Dooc, the launch of the program will make it easier for members to disburse benefits such as disability, retirement, self-employed and voluntary sickness and maternity claims.
“Doing direct transfer of funds for loans and benefit proceeds to the UMID Card ATM accounts is safer and faster. It will eliminate the cost of printing and mailing of checks, as well as delay in the delivery of service due to postage time and lost checks,” Dooc said in a statement.
He added that a member who applied and got approved a loan will receive it at least 24 hours upon approval on their bank accounts, and could withdraw it through their UMID cards.
Since November 2013, several banks were invited to the UMID-ATM program. Presently, SSS has signed agreements with four banks for the program’s implementation.
The UnionBank of the Philippines (UBP) is one of the accredited banks of SSS and was first to complete the program. They have started deploying kiosks in three SSS branch offices last year.
READ: UMID Cards were delayed due to production issues, but processing is now back to normal. Here‘s why.
Members can activate their UMID cards at UBP kiosks in seven branches namely, Baguio, Diliman, Manila, Buendia, Cebu, Pioneer and Davao. By the end of 2017, there will be UBP kiosks available in nine other branches.
“SSS members with UMID cards should activate their cards through these UBP kiosks in our selected branches,” Dooc said.
There will be no other requirements for ATM activation but the UMID card. There are about 34,000 UBP co-branded UMID cards or UMID cards with ATM functionality to date.
Source: Manila Bulletin