March 21, 2023

SSS, RCBC to bolster financial inclusion initiatives

The two parties intend to include every SSS member to be part of the financial system.

The Social Security System, alongside Rizal Commercial Banking Corp. (RCBC) inked a Memorandum of Agreement (MOA) aiming to every SSS member become part of the financial system through the UMID Pay Cards. The said government ID UMID Pay Card will also serve as an ATM card since it will be connected to the member’s preferred Bank account . The UMID Pay Card Bank account will have no mandatory balance and will be the default payout account where the earnings of their SSS benefits, loan, will be readily credited.