Pag-IBIG members can now avail of e-payment
by Prix D Banzon
Davao City (9 February) -- The government has found ways to make easy payments and remittances especially among overseas Filipino workers.
Among these are Pag-IBIG Fund and the Land Bank of the Philippines (LBP) where they launched separately their programs for the workers.
One program that was launched recently was the e-Payment for Pag-IBIG members abroad.
The Fund members registered under the Pag-IBIG Overseas Program (POP) may now send their monthly contributions and loan amortization payments through any overseas branch or remittance center of the Philippine National Bank.
Pag-IBIG Fund and PNB entered into a partnership on Overseas Bills Payment System, a collection and transmittal payment system for POP members utilizing PNB's overseas banking network.
The LBP meanwhile launched the OFW Cash Card particularly in Dubai.
The OFWs can send money to family members in the Philippines which is cheaper, faster and more convenient for Filipino workers in Dubai.
With the LandBank OFW Cash Card, Filipino workers in the Middle East can now use their Smart mobile phones to send money home, paying a bank charge of as low as P5 per transaction. This excludes the roaming change of P20 and a VAS fee of P2.50 which is charged to the sender's airtime load per transfer.
The LandBank OFW Cash Card is an electronic debit card that is linked to a mobile phone with a SMART Sim. The cash card will utilize its SMART Services Hub, SMART's global financial and telecommunications services model which will enable telcos and banks abroad to offer mobile phone-based remittances to Filipino migrants.
With the cash card, the OFW can easily load airtime, make money transfers to cover payments that will soon include utilities, membership contribution to SSS or Pag-IBIG Fund, housing loan amortization and even tuition or the schoolchildren's weekly allowance.
A free text message is automatically sent to the OFW to notify him of the amount sent and his available balance, and to the beneficiary stating the exact amount that he or she can withdraw from over 7,000 ATMs nationwide. (PIA) [top]