The Social Security System (SSS) and Union Bank of the Philippines (UBP) signed a memorandum of agreement on Monday that will allow SSS members to acquire Unified Multi-Purpose Identification (UMID) Pay Cards through the UBP.
Aside from being a valid government-issued ID, the UMID Pay Card will be linked to a UBP regular savings account with no required maintaining balance, where members can receive the proceeds of their SSS benefits, loans, and refunds.
Moreover, members who will be issued with the said UMID Pay Cards will be able to check their balance, withdraw cash, transfer funds, pay bills, or deposit cash through UBP’s branches, self-service machines, and BancNet ATMs nationwide.
They will also have access to the online and mobile banking platforms of the UBP, where they may perform additional transactions such as depositing checks, buying load, and creating savings goals, among others.
The issuance of UMID Pay Cards through the UBP is projected to be made available in the fourth quarter of 2022. Further details about the program will be posted on the SSS website and social media pages.