Everyone wants their money to be safe. Good thing that Social Security System (SSS) created a new way to make our money safer and easier to get via SSS benefits checkless payout.
They shift to SSS benefits checkless payout so that members can easily get their payouts. In addition, SSS announced that they will no longer issue the benefits using a check, they said that the benefits will be remitted to the member’s preferred SSS accredited bank account.
Checkless Payout Benefits:
*Members will be able to get the Lump-sum payment
Here are some of the SSS accredited banks:
-Land Bank of the Philippines
-Union Bank of the Philippines
-Development Bank of the Philippines
-Bank of the Philippine Islands
-Asia United Bank Corporation
-China Banking Corporation
Requirements for Checkless Payout:
- Must provide bank documents with the member’s name such as:
-Single saving account passbook
-Bank statements (Must have a signature of the bank’s authorized signatory)
*If the member doesn’t have a bank account, SSS will provide a referral letter which they will submit to SSS accredited bank they want.
*UMID card can also be used if it is enrolled as an ATM.
Furthermore, there will be instances or cases that you will be exempted from the Lump-sum benefits payment via banks. Those cases include these:
-Physically unable to attend personal bank transaction
-30 meters away from the SSS accredited bank where he/she will get the payout
-Multiple legal heirs as claimants
For additional information, you may consider contact SSS customer service using this contact number: 1800 10 225 5777
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