Enroll your bank account with SSS online for secure and convenient benefit payouts, streamlining the process and avoiding delays. Make your financial life easier by following the SSS bank enrollment module and enjoy timely transfers straight to your bank account.

Benefits of Bank Enrollment

Enroll your bank account with SSS for secure and convenient benefit payouts. No more monthly trips to SSS offices for retirement funds. Streamline the process and avoid delays by opening a bank account and following the SSS bank enrollment module.

How to Enroll your Bank Account in SSS Online

Enrolling your bank account or e-wallet in the Social Security System (SSS) online is a mandatory step for all members to facilitate the disbursement of benefits and loans. Here’s a comprehensive guide on how to complete the enrollment process.

Step-by-Step Enrollment Process

1. Access Your My.SSS Account: Begin by logging into your My.SSS account. If you don’t have one, you’ll need to register for free on the SSS website using a device with internet access 

2. Navigate to the Disbursement Account Module: Once logged in, go to the E-Services tab and select the Disbursement Account Enrollment Module (DAEM) or Bank Enrollment Module (BEM) 

3. Read and Proceed: Carefully read the reminders provided by SSS and click on ‘Proceed’ to continue with the enrollment 

4. Select Your Bank or E-Wallet: Choose from the list of supported banks or e-wallets. It’s important to note that the bank account must be PESONet-accredited and the details must be valid and active. Avoid using closed, dormant, joint, or restricted accounts 

5. Upload Required Documents: Provide proof of ownership of the bank or e-wallet account by uploading documents such as a passbook, ATM card, validated initial deposit slip, bank certificate/statement, or a screenshot of your e-wallet account 

6. Complete the Enrollment: After agreeing to the Data Collection Usage Clause, click on ‘Enroll’ to submit your enrollment request. You will need to enter your bank name and account number, and upload additional proof such as a valid government ID and a selfie 

7. Confirmation and Notification: A confirmation notice will be sent to your email address. Keep an eye on your inbox for this email. SSS will notify you once your enrollment is successful and your account is ready for use 

Additional Information

• Supported Banks and E-Wallets: It’s essential to know which banks and e-wallets are supported by the SSS DAEM. This information can be found during the enrollment process
• Requirements: The requirements for enrolling a bank account differ slightly from those for an e-wallet. Ensure you have the correct documents before starting the process
• Proof of Ownership: Since December 21, 2020, members are required to submit proof of ownership for the account they wish to enroll
• Mandatory for Benefits: All sickness and maternity benefits will be disbursed through this check-less system, making it crucial for members to enroll their accounts.
• Using the My.SSS Portal: The My.SSS portal allows members to check and update their membership information, view contributions, access online services, generate payment reference numbers, and get SSS contact details

Contacting SSS for Assistance

If you encounter any issues or have questions about the enrollment process, you can contact the SSS through their hotline at 1455 or email at member_relations@sss.gov.ph .

By following these steps, you can successfully enroll your bank account or e-wallet with the SSS online, ensuring a smooth and efficient disbursement of your benefits and loans.

How to Check Your SSS Contributions

Here’s how you can check your contributions:

1. My.SSS Portal: Access the My.SSS portal by visiting the official SSS website at www.sss.gov.ph. If you haven’t registered yet, you’ll need to create an account using your SSS number and at least one month of posted contributions. Once logged in, navigate to the ‘Inquiry’ tab, select ‘Contributions’ from the drop-down menu, and you’ll be able to view your monthly contributions, the total amount contributed, and the dates of contribution.

2. SSS Mobile App: If you prefer using a mobile device, download the SSS Mobile App and log in with your My.SSS credentials. You can then select ‘My Contribution’ to view the details of your monthly contributions.

3. Text Message: For those who do not have internet access, you can register with the SSS text facility by sending your SSS number and birthdate to 2600. After registration, you can inquire about your contributions by sending a text message with the required details to the same number.

It’s important to regularly check your SSS contributions to ensure that all payments are posted and accurate. This is especially crucial for self-employed or voluntary members who need to monitor for any missed or incorrect payments.

Regular monitoring also helps you determine your eligibility for various SSS benefits, such as salary loans, calamity loans, disability, and unemployment benefits.

Lastly, keep your personal records up to date to avoid any delays in the processing of benefit claims. This includes updating your information with the SSS by submitting the necessary forms and documents.

By following these steps, you can stay informed about your SSS contributions and ensure that you are on track with your social security benefits.

Which Banks Are Involved in SSS Disbursement Account?

The Social Security System (SSS) in the Philippines partners with various financial institutions to facilitate the disbursement of benefits to its members. These banks are accredited by SSS to ensure that members can receive their benefits such as pensions, loans, and other monetary claims efficiently and securely.

Accredited Banks for SSS Disbursement

A wide range of banks are accredited by SSS for the disbursement of benefits. These include both local and international banks, as well as various types of financial institutions such as rural and savings banks. Here is a list of some of the SSS-accredited banks:

• Asia United Bank Corp.
• Bank of Commerce
• BDO Unibank, Inc.
• China Banking Corp.
• Citibank N.A. Philippine Branch
• CTBC Bank (Philippines) Corp.
• Deutsche Bank AG – Manila Branch
• East West Banking Corp.
• Land Bank of the Philippines
• Metropolitan Bank and Trust Company
• Philippine National Bank
• Rizal Commercial Banking Corp. (RCBC)
• Union Bank of the Philippines
• Bank of the Philippine Islands (BPI)
• Security Bank Corp.

Notable Partnerships and Awards

The Philippine National Bank (PNB) has been recognized as the ‘Best Disbursement Partner’ by SSS, an award given to financial institutions that have achieved the highest amount of benefits disbursed to SSS members. PNB has been a partner of SSS for over 65 years and is acknowledged for its compliance with the Social Security Law and active participation in SSS programs.

Additionally, RCBC has been awarded as the ‘Best Digital Disbursement Partner’ for its DiskarTech app, which is a testament to the bank’s digital innovation in facilitating SSS benefit disbursements.

Enrolling in an SSS-Accredited Bank

To receive SSS benefits, members must have an SSS-accredited bank account. If you do not have one, you will need to open an account with one of the accredited banks. The enrollment process is mandatory for various types of loans and benefits, including salary loans, calamity loans, unemployment benefits, and retirement benefits.

Here are additional banks where you can enroll for SSS benefits:

• Maybank
• Standard Chartered
• Veterans Bank
• Metrobank
• PNB

It is important for SSS members to choose a bank that is not only accredited but also convenient for them in terms of accessibility and services offered. By enrolling in an SSS-accredited bank, members can ensure a smooth transaction when it comes to receiving their SSS benefits.

How Many Days Does SSS Approved Disbursement Account Enrollment?

When enrolling a bank account for SSS disbursements, members can expect the process to take varying amounts of time depending on the method chosen for receiving the loan proceeds:

1. Electronic Disbursement via PESONet or E-wallet:

   • Upon opting for electronic disbursement, members will be directed to the disbursement account enrollment page.
   • The SSS servicing branch will process submitted documents and provide an update within 1 to 2 working days.
   • Loan proceeds should be received within 8-10 working days after opting for electronic loan disbursement.

2. Disbursement Account Enrollment Module (DAEM):

   • Members must submit proof of ownership for the bank or e-wallet account enrolled in DAEM.
   • An email confirmation of the proof of account verification and approval will be sent by SSS.
   • The confirmation email from SSS regarding successful DAEM enrollment can take from one to three weeks. Anecdotal evidence suggests it could take up to 23 calendar days.

3. General SSS Bank Account Enrollment:

   • After approval of documents and application, funds are typically transferred to the member’s bank account within 24 hours.
   • The enrollment is mandatory for various types of loans and benefits, such as salary loans, calamity loans, unemployment benefits, and retirement benefits.
   • SSS will transfer the funds directly to the bank account without requiring members to return for a check.

4. Proof of Account Ownership:

   • Members are required to upload proof of account ownership, which can include an ATM card with the full account number and account holder’s name, bank certificate/statement, foreign remittance receipt, passbook, or a screenshot of the online/mobile banking account.

5. Participating Banks:

   • There are many banks participating in the SSS disbursement program, which aims to streamline and secure the disbursement process.

6. Purpose of Bank Account Enrollment:

   • The enrollment ensures that SSS has the correct details to deposit the money into the member’s account.

The time frame for SSS approved disbursement account enrollment can range from as quick as 24 hours to up to 10 working days for electronic disbursements, and one to three weeks for confirmation of DAEM enrollment. Members must provide proof of account ownership to facilitate the process, and the enrollment is essential for receiving various SSS loans and benefits directly into their bank accounts.

What Will Happen if I Stop Paying My SSS Contribution?

If you stop paying your Social Security System (SSS) contributions, there are several consequences that you may face, particularly if you are an employee and your employer is responsible for remitting these contributions:

1. Legal Implications for Employers: Employers in the Philippines are legally required to deduct and remit SSS contributions from their employees’ salaries. If they fail to do so, they are committing an illegal act and may face penalties such as monetary fines or imprisonment.

2. Penalties for Non-Remittance: Employers who do not remit the SSS contributions on time will incur a penalty of two percent per month from the date the contribution is due until it is paid.

3. Impact on Employee Benefits: As an employee, if your employer does not remit your SSS contributions, you may become ineligible for certain benefits, such as loans and medical reimbursements. However, it’s important to note that you are still entitled to social security benefits if your employer fails to remit and report your SSS contributions, provided you meet the qualifying conditions.

4. Member’s Protection: SSS members are protected by law against the negligence or non-compliance of their employers regarding SSS contributions. If you find that your employer has not been remitting your contributions, you should check your posted SSS contributions regularly and hold your employer accountable.

5. Actions Against Employers: The SSS takes serious actions against employers who do not comply with the Social Security Law. If your employer fails to remit your contributions, you can talk to them or file a complaint with the SSS.

6. Membership and Contributions: Membership in the SSS cannot be withdrawn, and contributions paid cannot be refunded. If you separate from employment, your employer’s obligation to pay your SSS contributions ceases at the end of the month of separation, but you will still be credited with all the contributions paid on your behalf.

7. Garnishment for Delinquent Financial Obligations: In some cases, such as delinquent federal income taxes or other federal agency debts, your Social Security benefits can be garnished. This means a portion of your benefits may be taken to repay the debt. Additionally, if you’ve fallen behind on child support or alimony, your benefits could also be garnished.

8. Debt Collection: While debt collectors cannot directly access your Social Security benefits, they can obtain a court order to tap into your bank accounts to recover debts owed.

9. Enforceable Collection and Penalties: If you have unpaid social contributions, you may face enforceable collection of the amount due, including late payment interest. You could also be subject to administrative offenses and, in severe cases where the illegitimate advantage exceeds a certain amount, criminal proceedings.

It is crucial for both employers and employees to understand the importance of timely SSS contribution payments to avoid legal repercussions and ensure eligibility for benefits. Employees should regularly monitor their SSS contributions and take action if discrepancies are found.

How Many Months Needed to Loan in SSS?

To be eligible for an SSS salary loan, members must have a certain number of contributions:

• For a one-month loan, members need to have at least 36 monthly contributions, with 6 of those contributions made within the last 12 months before the application
• To qualify for a two-month loan, members must have made at least 72 monthly contributions, with 6 contributions within the last 12 months before filing the application
• The loan must be repaid in 24 monthly installments
• Members can renew their loan after paying at least 50% of the original principal amount and when 50% of the term has elapsed
• If a member defaults on the loan, the unpaid amount will be deducted from any future benefits claimed

How Many Contributions Do I Need to Avail My SSS Pension?

For retirement benefits:

• Members must have paid at least 120 monthly contributions before the semester of retirement to qualify for a monthly pension
• If a member does not meet the 120 contributions requirement, they are entitled to a lump-sum payment instead
• The amount of the monthly pension depends on the member’s monthly salary credit and the number of years they have paid SSS contributions
• The minimum monthly pension is set at ₱2,000, with the possibility of receiving up to ₱18,495 depending on the contributions
• Members with at least 10 years of contributions (120 months) receive a minimum pension, which increases with 20 years of contributions (240 months)
• Retirees are also entitled to healthcare benefits provided by the government
• Additional benefits are available for members with dependents such as a spouse or children
• Retired members with at least one contribution in the calendar year receive a 13th-month pay
• Automatic PhilHealth membership is granted to retirees who are not yet members, entitling them to healthcare benefits

Importance of PESONet Accreditation

Ready to streamline your SSS benefits disbursement process? Let’s delve into the importance of PESONet accreditation for smooth fund transfers. Being PESONet accredited means your bank is part of a secure network enabling direct, fast, and automated fund transfers from SSS to your account.

This accreditation ensures efficient benefit disbursal, eliminating the hassle of manual cash or check collection. Enroll in a PESONet-accredited bank for timely and secure disbursement of your salary, calamity, unemployment, and retirement benefits.

Visit the SSS website for a list of participating banks like BPI, BDO, Maybank, and more. Stay linked to a trustworthy network for seamless transactions and peace of mind.

Advantages of Bank Transfers

Upgrade your SSS benefit experience with the swift and secure convenience of bank transfers. No more hassle with cash or checks – your funds go straight to your account upon approval.

Bank transfers offer safety, speed, and efficiency, ensuring you get your benefits without delays. Set up automatic transfers for peace of mind and say hello to a seamless way to receive your funds. Embrace the modern way of managing your SSS benefits with bank transfers.

What Is the Meaning of Active Disbursement Account?

An active disbursement account in the context of the Social Security System (SSS) refers to a bank account or e-wallet that is enrolled and recognized by the SSS for the purpose of receiving loan proceeds and other monetary benefits. This account must be valid, current, and capable of receiving funds electronically through the SSS Disbursement Account Enrollment Module (DAEM).

What Is Proof of Account for SSS Disbursement?

Proof of account for SSS disbursement is the documentation required to verify the ownership of the bank account or e-wallet that is being enrolled in the DAEM. This could include an ATM card showing the full account number and account holder’s name, a bank certificate or statement, a foreign remittance receipt, a photo or scanned copy of a passbook, a screenshot of the online/mobile banking account, or a validated deposit slip.

How to Apply for a Salary Loan in SSS With an Active Disbursement Account?

To apply for a salary loan with SSS, you must first ensure that you have an active disbursement account enrolled in the DAEM. The process typically involves the following steps:

1. Log in to your My.SSS account on the SSS website.
2. Navigate to the E-Services tab and select the Disbursement Account Enrollment Module.
3. Read the reminders and proceed to enroll your bank account or e-wallet by choosing from the list provided and uploading the necessary attachments.
4. Accept the Data Collection Usage Clause and submit your enrollment.
5. Once your disbursement account enrollment is successful, you can proceed to apply for a salary loan online through your My.SSS account.

It is crucial to provide accurate and valid details for your disbursement account to avoid delays or rejections of your loan disbursement. Members and pensioners can enroll up to three disbursement accounts but must nominate only one for benefit or loan disbursement. Remember to use the bank account number, not the ATM card number, when enrolling bank accounts.

For those who do not have a bank account, it is necessary to open one that is accredited by SSS and part of the PESONet network. Once the account is enrolled and the loan application is approved, SSS will transfer the funds directly to the enrolled bank account.

Can I Enroll my Bank Account in SSS Online if I Plan to Migrate to the USA from the Philippines?

Yes, you can enroll your bank account in SSS online even if you plan on migrating to the USA from the Philippines. The migrating to USA from Philippines guide outlines the steps to follow. It’s important to keep your SSS account updated while abroad to ensure smooth transactions and benefits.

SSS Website Account Setup

Ready to set up your SSS website account? Here’s how:

1. Go to the MEMBER section on the SSS website.
2. Click on ‘Register’ to create your new account.
3. Fill in your personal details accurately.
4. Verify your email address to complete the registration.

Setting up your SSS website account is a breeze. Once you follow these steps, you’ll unlock a world of online services for easier SSS benefits management. Start now and make managing your benefits a whole lot easier!

Frequently Asked Questions

Can I Enroll More Than One Bank Account in My SSS Account for Benefit Disbursement?

Yes, you can add multiple bank accounts to your SSS account for benefit disbursement. This gives you more control over your funds and makes it easier to receive your benefits promptly. Just follow the enrollment steps to add additional accounts.

Are There Any Fees Associated With Enrolling a Bank Account in SSS for Benefit Crediting?

Enrolling your bank account in SSS for benefit crediting is completely free. It’s a secure and convenient way to access your funds. Just make sure to select an SSS-accredited bank for smooth transactions.

What Should I Do if My Preferred Bank Is Not Listed as a PESONet Accredited Bank in Sss?

If your favorite bank isn’t on the PESONet list, explore the available options. Pick an accredited bank for smooth benefit transfers. Keep an eye out for new bank choices that might be included later.

Is There a Maximum Amount Limit for Funds That Can Be Transferred to My Bank Account Through SSS Benefits?

No need to worry about limits when transferring SSS benefits to your bank account. Get all your funds swiftly and conveniently deposited without any maximum amount restrictions.

Can I Change or Update My Bank Account Details for SSS Enrollment Online After the Initial Setup?

Yes, you can easily update your bank account details for SSS enrollment online. Just log in to your SSS account, go to E-SERVICES, find the Disbursement Account Enrollment Module, choose your bank, edit your account information, and confirm the changes via email.

Conclusion

Ready to take charge of your financial future? Enroll online with SSS today and wave goodbye to manual cash or cheque handling. Say hello to the ease of bank transfers with PESONet accreditation. Accessing your benefits is now a breeze. Don’t miss out on the efficiency and security of online enrollment.

Sign up now and enjoy the peace of mind that comes with streamlined disbursements. Your financial well-being is just a click away!