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SSS loans, benefits can now be withdrawn via UMID-ATM Cards

More than 34,000 members of the state-run Social Security System (SSS) may now withdraw through automated teller machines (ATM) their social security benefits and loans using their Unified Multi-purpose Identification (UMID) cards, this was announced by SSS President and Chief Executive Officer Emmanuel F. Dooc announced recently.
Dooc said the rollout of the program will make disbursements easier for member benefits such as disability; retirement; self-employed and voluntary; sickness and maternity claims; and member privileges like salary and calamity loans.
He added that doing direct transfer of funds for loans and benefit proceeds to the UMID card ATM accounts is safer and faster as it eliminates the cost of printing and mailing of checks, as well as delay in the delivery of service due to postage time and lost checks.
“As soon as the loan is approved by SSS, it will only take at least 24 hours for our members to withdraw it from their bank accounts,” Dooc said.
To date, SSS has signed agreements with four banks to implement the program. UnionBank of the Philippines (UBP), one of the accredited banks, was the first to complete the program and started deploying kiosks in three SSS branch offices last year.
Dooc advised members with UMID cards to activate their cards through the UBP kiosks in seven SSS branches in Baguio, Diliman, Manila, Buendia, Cebu, Pioneer and Davao. Additional UBP kiosks will be available in nine other SSS branches by yearend.
To date, there are about 34,000 UBP co-branded UMID cards with ATM functionality.
“Members may directly withdraw their benefit and loan proceeds from Bancnet ATMs nationwide and VISA-branded ATMs for international transactions,” Dooc said as he stressed that the ATM-enabled UMID card is free of charge.
“Our members should not worry that the UMID-ATM program is only available for one bank now. We are working with other banks, starting with the three partner banks, as well as other banks that were invited to join the program.” Dooc said.
He also said that this program will facilitate the immediate and safe release of loan and benefit proceeds and reduce the number of SSS members who queue in SSS and bank branches just to pick up or encash checks for loans and benefits. (Source: Maureen N. Inocencio, Senior Communications Analyst, SSS Luzon Central Division)

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