Thursday, 24 September 2020

Rewire allows Filipino migrants to pay SSS contributions with no fees

Rewire is allowing Overseas Filipino Workers (OFWs) to pay Social Security System (SSS) contributions with no fees. Among other important financial services provided online, such as remittance, a European bank account and a debit card, SSS payments through an app have never been easier for migrants. Rewire recently partnered with a Philippine government authorised company to offer the needed infrastructure for the deposit.

Paying SSS is now easier than ever before

The payment is completed instantly and available 24/7. Filipino customers can pay the SSS payment at 4 PM or 4 AM, and the outcome will be the same. This service is only offered to users for whom the SSS payment can be relevant for. It can easily be found on the website or app once logged into the account. The SSS payments section is found in the menu bar. After that, Filipino migrants only need to tap on the screen and enter information for less than two minutes.

Managing finances in more than one country

SSS payments will ensure OFWs a monthly pension from the SSS. The Filipino migrants will receive retirement funds from the insurance, which will help cover the basics, such as utility bills, healthcare and more. But while the SSS provides financial aid, it is not a substitute for life insurance or any other type of insurance that people may want to have.

Rewire’s head of Filipino Community Meril Weber said, “Being able to contribute to the lives of Filipino migrants, to unburden those professionals and to show them that they can lean on us when their lives change drastically, is a privilege. We tend to forget that migrants are not only contributing to the generation of new wealth. They are also pioneers in an informal social movement towards emancipation. Often, migrants wish to improve the quality of life or seek professional development and better living conditions in general. We are proud of our technical offer and infrastructure for the deposit, in order for Rewire to support them in their lives and in giving access to finances that will help their families.”

“Many migrants that move from the Philippines to Europe for work rely on Rewire for digital banking. Those OFWs are very much needed in different countries across Europe, such as Germany, Ireland and Finland, not just in times of COVID-19, but more on a sustaining basis,” Rewire’s chief executive officer Guy Kashtan said.

“Our main mission with Rewire is to make banking stress-free for migrants, which is why enabling SSS payments is important. SSS payments ensure that migrants will be taken care of on happy occasions, such as maternity leave or retirement and in cases of illness, disability or even passing. Rewire is devoted to its customer base and continuously works to develop innovative features that support migrants’ financial stability on their paths to build a better future for themselves and their families,” Kashtan added.

Re-disseminated by The Asian Banker

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