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Sep 7, 2017

Get your SSB money direct

On Wednesday, we told you how the Social Security Board is moving online and how employers are making their payments via the online portal. Well, it is not only the employers who get an easy, fast and secure way to do their social security business, but insured persons can receive their payments directly to their bank accounts. This service was launched in June of this year and for its first phase, those who are receiving sickness and maternity benefits as well as maternity grants are getting this service but it is expected to be rolled out in the long term for all insured persons. The S.S.B. explains.

 

Nabi Reyes, Finance Manager, S.S.B.

Nabi Reyes

“The processing of the benefit usually takes about three days after which what we do is really deposit your money electronically to your bank account. So, there is no need for the IP to come back in to the account, follow up the claim or query the status of the payment. The funds are directly deposited to their account. So, with Atlantic bank, the beauty of this project is that the IP does not necessarily need to bank with Atlantic Bank. Atlantic Bank is financing all credit union, all financial institutions in the country, so it is really a fast service, reliable and very secure. We are asking IPs to take advantage of this service and it is also benefitting SSB in terms of the cost effectiveness in terms of saving and printing cheques. We no longer want to print cheques, it is costly to print cheques. And for the IP, obviously the advantages of not having to visit the bank, to stand in line, to cash a cheques, to pay the service charge of cashing a cheques.”

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Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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