THE MySSS Card will soon reach members in unbanked areas after a commercial bank agreed to be its first rural bank card issuer, the Social Security System (SSS) said on Wednesday.
SSS President and CEO Robert Joseph de Claro said that he signed a memorandum of agreement with Sheila Marasigan Bajado, EastWest Rural Bank (EWRB) president, which would pave the way for the issuance of MySSS Cards primarily for members in rural areas while remaining accessible to qualified members nationwide.
“This is the right move to expand financial inclusion in underserved communities,” de Claro said in a statement.
The collaboration with EWRB would be a significant initiative that will simplify disbursement account enrollment and improve convenience for members, highlighting the card’s dual role as an official SSS ID and debit card, he said.
“The MySSS card also allows SSS to provide digital payment facilities for our registrants, members, pensioners and beneficiaries,” de Claro explained.
Moreover, the state-run social insurance entity said it uses the National ID database checks to confirm that applicants are registered SSS members, ensuring secure card issuance by its partner bank and accurate benefit disbursement through the linked account.
The card also enables members to manage their daily financial transactions with ease, it added.
Bajado said that a streamlined MySSS Card application process will be available at EWRB’s 112 branches and branch-lites nationwide this year, most of which are in the provinces, particularly in Mindanao and the Visayas.
The card may also be offered at cross-selling desks in EastWest Bank branches, their parent bank, and through a digital channel, Bajado said.
“We will waive maintaining balance requirements for MySSS cardholders, who may also earn interest once their balance reaches at least P500, allowing them to grow their savings while enjoying flexible account features,” she pointed out.
The SSS has maintained a decade-long collaboration with EWRB, which began in 2017 when the bank was recognized as the Best Collecting and Best Paying Partner in the rural category of the SSS Balikat ng Bayan Awards, according to the SSS chief.
“We hope our collaboration will help SSS better serve members wherever they are,” he said.
