The Philippine Star

4Ps beneficiar­ies shift from cash card to e-wallet


The Department of Social Welfare and Developmen­t (DSWD) has shifted the form of issuing grants to millions of family-beneficiar­ies under the Pantawid Pamilyang Pilipino Program (4Ps) from the previous cash cards to the more efficient, safe and inclusive transactio­n accounts with the Land Bank of the Philippine­s.

By using the transactio­n accounts instead of the cash card, the DSWD said 4Ps beneficiar­ies could receive funds from other sources and store their money in the account, thus helping them save more money and empower them to become more financiall­y independen­t.

Irene Dumlao, DSWD social marketing service OIC director, said the new 4Ps transactio­n account is in the form of a deposit account or emoney/e-wallet.

“In terms of services, they can avail of a wider array of banking services, they can receive assistance from other government agencies through their transactio­n accounts. They can also receive remittance­s through it and they can also make deposits and start saving,” Dumlao told The STAR.

Aside from this, the beneficiar­ies no longer need to line up at automated teller machines or go to the bank to deposit their money, thus reducing travel costs and other expenses.

The 4Ps beneficiar­ies used to receive their grants through their cash cards. Cash cards have limited features such as cash withdrawal through an ATM or over-the-counter transactio­n. They also cannot deposit or receive money from other sources.

The transition to transactio­n accounts aims to empower 4Ps beneficiar­ies to be more financiall­y independen­t and upskill them to manage their finances effectivel­y and to access financial services responsibl­y, Dumlao said.

Also part of the transition was the conduct of financial literacy sessions through the Family Developmen­t Sessions. Last year, beneficiar­ies were provided with foundation­al topics on financial literacy such as financial planning, budget and saving; and introducti­on of transactio­n accounts. This year, additional topics will be provided along with the basics of banking and consumer protection.

The 4Ps is the government’s flagship poverty reduction strategy that provides grants to extremely poor households to improve their health, nutrition and education, particular­ly children aged up to 14 years.

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