How to enroll bank account for SSS disbursements
Apersonal bank account is a key prerequisite these days as most transactions are conducted online to ensure fast and timely crediting of cash proceeds.
Since the government started implementing quarantine lockdowns and safety protocols last year to curb the spread of the Covid-19 virus, there has been a noticeable rise in applications for SSS benefits and loans. And understandably so, we have already digitalized a large part of our services instead of the usual walk-in and face-to-face transactions.
Aside from maximizing the usage of the MY.SSS account in the SSS web site, members are empowered not only to view their account history but also make the necessary changes online.
One significant feature in the MY.SSS portal is the Disbursement Account Enrollment Module or DAEM. Employers and members may be able to use DAEM for the crediting of SSS benefit and loan proceeds directly to their enrolled bank accounts.
How do you sign up for DAEM?
n First, log in to your MY.SSS account.
n Click “Disbursement Account Enrollment Module” under the “Eservices” tab.
n Carefully read the reminders on account enrollment, then tick the box to certify that you understood the guidelines.
n After clicking on the “Proceed” button, choose your PESONET participating bank/e-wallet or Remittance Transfer Company (RTC)/ Cash Payout Outlet (Cpo)—currently through DBP Cash Padala via M Lhuillier—from the dropdown menu and encode the required disbursement account number or mobile number twice.
n Tick the box to agree to the Data Collection and Usage clause.
n Click “Enroll Disbursement Account,” then “OK.”
n Check your e-mail inbox for a confirmation notice from SSS.
To avoid payment delays, make sure to provide the correct bank account details or mobile numbers— not closed/dormant or frozen accounts, dollar, joint (and/or), timedeposit accounts, incorrect or nonexisting bank accounts or invalid mobile phone number. However, bank accounts that bear a different account name from the employer or member, different disbursing bank, or prepaid account or account with restrictions and duplicate accounts/mobile numbers will be rejected.
Be sure to enter your bank account number and not your ATM number. To make sure you have the correct information, you may want to confirm first with your bank. Do not put a dash in-between numbers or any non-numeric character.
If you will be using a cash card, please ensure that the issuing bank allows its use for SSS disbursements. For E-wallets, make sure your account is upgraded so that it can receive the full amount of proceeds beyond the usual limit. And for RTCS and CPOS, SSS will send the Reference Number needed to claim the benefit proceeds via text message, so you need to make sure that your enrolled mobile number and your SIM card is active. You just need to encode your mobile numbers in its 11-digit format without any dash or non-numeric character.
It is important to note that errors in the details of your enrolled disbursement account will result in non-crediting of the benefit proceeds. Re-crediting of the benefit amount may take up to 30 days of processing time upon correction of erroneous account details.
Enrollees, however, may list up to three disbursement accounts but may nominate only one account per benefit claim or loan application. Employers or their authorized personnel must also enroll only one Pesonet-participating bank account, which may be used for all its branches or subsidiaries. You will also be required to upload any of the following documents bearing the complete account name and account number to establish ownership, such as passbook, ATM card with account number and name, validated deposit slip, bank certificate/statement issue not earlier than 2019, foreign remittance receipt, or screenshot of online/mobile app account in the case of E-wallets.
After uploading the supporting document, you need to tick the box to agree to the Data Collection and Usage clause. Once uploaded, employers and members will be informed via e-mail if their uploaded proof of account has been verified and approved. Double check that all the information you have encoded is correct to minimize delays in receiving the benefit or loan proceeds.
Please take note that the approved benefit claim and loan applications can be disbursed through any of the following: UMID ATM, Unionbank Quick card, PESONET banks, E-wallets, and RTC/CPOS.
You may also verify the Reference Number to claim the benefit proceeds from your MY.SSS account. Just click Inquiry, then from the dropdown, select RTC/CPO Reference Number.
We hope our members will familiarize themselves with DAEM so that future transactions will be smoother, especially when applying for SSS benefits and loans. This is really what we envisioned when we intensified the digitalization of our services through our campaign Expresss—mas pinadali, mas pinasimple and mas pinabilis for all our stakeholders.
Stay safe everyone!