SSS-Accredited Banks for Benefit and Loan Payouts

Updated July 24, 2021

Here’s a list of SSS-accredited banks for benefit and loan payouts. 

These banks are all members of the fund transfer network PESONET. I think the SSS decided to use PESONET because it’s FREE. The other network, INSTAPAY, charges transfer fees.

You can receive your pension, sickness, maternity, funeral benefits and loan payouts through these banks. SSS is transitioning away from the use of checks to the use of PesoNet transfers to release benefits or loan payouts.

You are required to enroll your bank account in your online SSS account. Login, choose E-Services, then click Disbursement Account Enrollment Module.

When entering your bank account, do not put dashes. Do not put spaces. When entering your phone number, start with 0 and not 63.

Example account number: 8345986712
Example phone number: 09185739390

Warning If your bank is BDO, choose BDO Unibank Inc., not BDO Network Bank. BDO Network is a rural bank owned by BDO.
I’ve read online about people making the mistake of choosing BDO Network maybe because it comes ahead on the list before BDO Unibank.

SSS-accredited banks for benefit, loan payouts and pensions:

  • Al-Amanah Islamic Bank
  • AllBank (A Thrift Bank) 
  • Asia United Bank (AUB)
  • Australia and New Zealand Bank (ANZ)
  • Bangko Kabayan 
  • Bangko Mabuhay (A Rural Bank)
  • Bangko Nuestra Senora Del Pilar
  • Bangkok Bank Public Co.
  • Bank of America
  • Bank of China Unlimited
  • Bank of Commerce (BankCom)
  • Bank of Florida (A Rural Bank)
  • Bank of the Philippine Islands (BPI)
  • BDO Network Bank Inc. (A Rural Bank)
  • BDO Unibank Inc. (BDO)
  • Camalig Bank Inc. (A Rural Bank)
  • Cantilan Bank
  • Cebuana Lhuillier Rural Bank Inc. (upgrade your card/account)
  • China Bank Savings (CBS)
  • China Banking Corp. (China Bank)
  • CIMB Bank Philippines
  • Citibank N.A.
  • Community Rural Bank of Romblon
  • Country Builders Bank Inc.
  • CTBC Banking Corp.
  • DBP Cash Padala Thru M Lhuillier (RTC/CPO of DBP)*
  • DCPay Philippines (e-wallet)
  • Deutsche Bank
  • Development Bank of the Philippines (DBP)
  • Dumaguete City Development Bank
  • Dungganon Bank
  • East West Rural Bank 
  • East-West Banking Corp. (EastWest Bank)
  • Equicom Savings Bank
  • First Consolidated Bank
  • GCash (e-wallet) (Verify/Upgrade your account)
  • Guagua Rural Bank
  • HSBC Savings Bank
  • Industrial & Commercial Bank of China
  • Industrial Bank of Korea-Manila
  • ING Bank N.V.
  • Innovative Bank
  • JPMorgan
  • KEB Hana Bank
  • Land Bank of the Philippines/Overseas Filipino Bank (Landbank/OFB)
  • Malayan Bank Savings and Mortgage
  • Maybank Philippines
  • Mega International Commercial Bank Co. 
  • Metropolitan Bank and Trust Co. (Metrobank)
  • Mizuho Bank
  • MUFG Bank Ltd.
  • MVSM Bank (A Rural Bank Since 1953)
  • Paymaya Inc. (e-wallet) (Verify/Upgrade your account)
  • Philippine Bank of Communications (PBCom)
  • Philippine Business Bank (PBB)
  • Philippine National Bank (PNB)
  • Philippine Savings Bank (PSBank)
  • Philippine Trust Co. (Philtrust)
  • Philippine Veterans Bank (Veterans Bank)
  • Producers Savings Bank
  • Queen City Development Bank
  • Rang-ay Bank (A Rural Bank)
  • RBT Bank
  • Rizal Commercial Banking Corp. (RCBC)/Diskartech
  • Robinsons Bank
  • Rural Bank of Digos
  • Rural Bank of Guinobatan
  • Rural Bank of Rosario (La Union)
  • Security Bank Corp. (SB)
  • Shinhan Bank
  • Standard Chartered Bank
  • Sterling Bank of Asia
  • Sumitomo Mitsui Banking Corp.
  • The Hongkong and Shanghai Banking Corp. (HSBC)
  • Tonik Digital Bank
  • Union Bank of the Philippines (UnionBank)
  • Union Bank Quick Card
  • United Coconut Planters Bank (UCPB)
  • United Overseas Bank (Phils) (UOB)
  • Wealth Development Bank (now WealthBank)
  • Yuanta Savings Bank

*RTC/CPO of DBP means Remittance Transfer Company/Cash Payout Outlet of the Development Bank of the Philippines)

If your bank is not in the list above, check this list below. These banks below are not yet PesoNet members, but they are currently applying to become PesoNet members. If you can wait, wait for your bank to get accredited by PesoNet:

Cooperative Bank of Quezon Province
Money Mall Rural Bank Inc.
Rural Bank of Bacolod
Rural Bank of Bauang
Rural Bank of La Paz
Rural Bank of Porac (Angeles City)
Rural Bank of Sagay
Rural Bank of Sta. Ignacia Inc.

3 Things That You Will Need to Do Related to your Bank Account When Applying for an SSS Benefit or a Loan

  1. Enroll your bank in your online SSS account (Disbursement Account Enrollment Module under E-Services). Upload proof of your bank account (recent deposit slip machine-marked by your bank with bank name, account name and account number)
  2. Enter your bank details into the bank portion of your SSS application form.
  3. For pension application, submit proof of your bank account (original and photocopy, example: recent deposit slip machine-marked by your bank with bank name, account name and account number)

Remember to maintain balance requirements!

If it’s your first time opening a bank account, remember to ask how much is your required maintaining balance.
To maintain your account, do not withdraw the maintaining balance.

If you decide not to maintain your account, withdraw your balance in full so that the balance will not be wiped out by below-maintaining-balance penalties later on.

Once a bank account reaches zero balance or negative balance, it will automatically close.

I’ve heard about opening a bank account with only 100 pesos. Is this true?

Yes, but you must present a Letter of Introduction (LOI) from SSS.

You can ask SSS to give you an LOI after you have presented the documents required for the benefit you’re applying for.

I’ve heard that the best banks for SSS pensions are Landbank, PSBank, Metrobank, BDO and China Bank.

I’ll mention CTBC which has long been offering SSS Visa cash cards for pension releases.

Are cash cards allowed for SSS benefits?

Most cash cards are not allowed. Why? Because cash cards are limited in the amount of money that they can contain.

For example, the BDO generic cash card (no name on the card) can contain only up to 10,000 pesos at any time.  Kung 30,000 pesos ang maternity benefit mo, hindi papasok sa cash card mo kasi pang-10k lang ang cash card mo.

You can use your SSS UMID card…but validate it first 

If you have an SSS UMID card, you can use it to receive your SSS maternity benefit. Kelangan lang na ipa-validate mo muna ang UMID mo sa Union Bank kiosks na nasa SSS branch sa Diliman, Manila, Pioneer, Buendia, Cebu, Davao, o Baguio.

If you’re using an SSS UMID card to receive your benefits or loan payouts, you’re not required to enroll your UMID card online.

What to Do if You’re Not an SSS Member and You’re Claiming a Funeral Benefit

File your bank account number using the Funeral Benefit claim form, just like the old way of claiming SSS sickness and maternity benefit below:

Information on the SMEC-PB Program, which stands for Sickness, Maternity and Employees’ Compensation Benefit Payment thru the Bank Program
or Sickness and Maternity Benefit Payment Thru the Bank (SMB-PB) program.

Here’s the portion of the SSS Maternity Benefit Application form where you will write your account’s details:


 
 
  • You will write these details:
    • Bank Name and Branch
    • Bank Branch Address
    • Zip Code of Bank Branch
    • Bank Account Name
    • Bank Account Number
    • Check if Savings/Current Account, UMID ATM Account or Cash Card
    • If Cash Card, write Validity date

Related posts:
Top banks in the Philippines, all types ranked together

298 Comments

  1. Cherry Manlapaz 01/17/2017
  2. Tegie 02/15/2017
    • Nora Tamba 02/15/2017
      • Jenelyn 11/11/2020
        • Nora 11/11/2020
          • Jesalyn 07/31/2021
          • Nora 07/31/2021
      • JUSTINE MAGALSO GONZAGA 07/03/2021
        • Nora 07/03/2021
          • Jennifer cruz 07/03/2021
          • Nora 07/03/2021
    • Anonymous 05/06/2017
    • Unknown 10/12/2017
    • Unknown 09/15/2018
    • Unknown 10/04/2018
      • sophia 11/17/2018
        • Ivy dianne bulaon 07/19/2020
    • Anonymous 10/15/2018
      • sophia 11/17/2018
      • junalyn 05/21/2019
        • Nora 05/23/2019
          • marisa 03/04/2020
          • Nora 03/04/2020
          • Janzell 03/10/2020
          • Nora 03/13/2020
          • ivee 03/12/2020
          • Nora 03/13/2020
        • Pearl 04/04/2020
          • Nora 04/04/2020
    • Rich 01/27/2020
      • Nora 01/27/2020
        • Rich 01/28/2020
        • JhoaneCy 05/26/2020
          • Nora 07/19/2020
      • Lee marvin mesa 07/21/2020
        • Nora 07/21/2020
          • Cristina Duya 09/16/2020
          • Nora 09/16/2020
    • judy ann manrique 03/17/2020
      • Nora 03/17/2020
        • judy ann manrique 03/18/2020
          • Nora 03/18/2020
  3. Unknown 02/22/2017
    • Nora Tamba 04/03/2017
    • Emmalyn Dino 01/13/2018
      • Rich 01/28/2020
  4. Joseph Estrada 02/22/2017
    • Nora Tamba 04/03/2017
  5. Anne Medina 04/02/2017
    • Nora Tamba 04/03/2017
  6. Eunice Aquino 04/05/2017
    • Nora Tamba 04/05/2017
  7. Oli 04/14/2017
  8. Caren Cabral 05/22/2017
  9. Beverlyn Henon 05/24/2017
    • Nora Tamba 05/24/2017
      • merasol baray 04/08/2019
        • Nora 04/27/2019
    • Yram enaj allicra 10/18/2018
      • sophia 11/17/2018
    • Gladies 01/07/2020
      • Nora 01/11/2020
  10. Debbie Ann Magpusao 05/24/2017
    • Nora Tamba 05/24/2017
  11. Nora Tamba 05/24/2017
    • raleigh jebulan 10/15/2018
      • sophia 11/17/2018
        • Ivy dianne bulaon 07/19/2020
          • Nora 07/19/2020
  12. Learnie Serrano 06/02/2017
  13. Desiree Dalumpines 06/03/2017
  14. MICHELLE BUSTAMANTE 06/07/2017
  15. Unknown 06/09/2017
  16. Jek Conti 06/09/2017
  17. Monique Enriquez 06/13/2017
  18. Anonymous 07/10/2017
  19. Raj Iligan 07/10/2017
    • Juan Marco 08/03/2017
    • Anonymous 09/14/2017
  20. marie dicap 07/11/2017
  21. Anonymous 07/26/2017
    • Juan Marco 08/03/2017
    • Mary Jane Carator 03/01/2018
    • Juan Marco 08/03/2017
  22. kristina gutierrez 08/03/2017
    • Juan Marco 08/03/2017
    • kristina gutierrez 08/03/2017
    • Juan Marco 08/03/2017
    • Juan Marco 08/03/2017
  23. Unknown 08/03/2017
    • Anonymous 09/05/2017
  24. Juan Marco 08/04/2017
  25. Unknown 08/20/2017
  26. Unknown 08/23/2017
  27. Anonymous 08/26/2017
    • Momshie jhuday 12/21/2017
    • Momshie jhuday 12/21/2017
  28. Anonymous 09/04/2017
  29. Anonymous 09/04/2017
  30. Anonymous 09/04/2017
  31. Anonymous 09/13/2017
  32. Pj Wolfe 09/18/2017
  33. Ayen Liao 09/22/2017
    • Anonymous 11/09/2017
  34. Anonymous 09/22/2017
  35. Anonymous 10/06/2017
    • Abegail Ecalner 10/19/2017
      • Julie Ann Dela Cruz 12/08/2018
        • sophia 12/08/2018
    • Unknown 07/19/2018
  36. Anonymous 10/07/2017
  37. Apple Bancuyo 10/10/2017
  38. Ems Sotelo 10/12/2017
  39. Abegail Ecalner 10/19/2017
    • maybelyn mercado 10/30/2017
    • Mary Jane Carator 03/01/2018
    • Eriel 06/05/2018
  40. Ali 10/22/2017
  41. Anonymous 10/25/2017
  42. robielyn lapuz 10/25/2017
  43. Unknown 10/30/2017
  44. Anonymous 11/03/2017
  45. Anonymous 11/08/2017
  46. Ma. Elaine Patayan 11/09/2017
  47. Nora Tamba 11/17/2017
  48. Kimberly Villanueva 11/18/2017
  49. Kimberly Leal 11/20/2017
  50. Francois Jane 11/27/2017
    • Nora Tamba 11/27/2017
      • Duhyan 05/03/2019
        • Nora 05/03/2019
        • Mary Joy Arangale 06/03/2019
          • Nora 06/03/2019
    • Francois Jane 11/27/2017
    • Francois Jane 12/05/2017
    • Unknown 12/21/2017
    • nhyca hayley 12/29/2017
  51. Francois Jane 12/05/2017
  52. Francois Jane 12/05/2017
    • Jasmin Mendoza 11/03/2018
  53. Reby 12/08/2017
    • Nora Tamba 12/14/2017
    • Francois Jane 12/14/2017
  54. Jose Jovy Jacalne 12/09/2017
    • Nora Tamba 12/14/2017
  55. Anonymous 12/12/2017
    • Nora Tamba 12/14/2017
  56. alanil marin 12/14/2017
  57. Kaye 12/14/2017
  58. Unknown 12/18/2017
    • Kaye 12/19/2017
    • Aiza 03/23/2020
      • Nora 03/23/2020
  59. Leah Apinado 12/21/2017
  60. Leah Apinado 12/21/2017
  61. Ehrica Aguilar 12/27/2017
  62. nhyca hayley 12/29/2017
  63. Kaye 01/03/2018
  64. jhenn Ganda 01/05/2018
  65. Shiela Maranan 01/16/2018
  66. Nora Tamba 01/17/2018
  67. Francois Jane 01/17/2018
    • Nora Tamba 01/22/2018
  68. Anonymous 01/22/2018
  69. Nora Tamba 01/22/2018
    • Nora Tamba 01/24/2018
    • Gennelyn Gecalao 02/16/2018
  70. Unknown 01/23/2018
  71. Nora Tamba 01/23/2018
    • Anonymous 10/03/2018
    • Nora Tamba 01/24/2018
    • Nora Tamba 01/24/2018
    • Nora Tamba 01/26/2018
  72. Unknown 01/25/2018
    • Nora Tamba 01/26/2018
  73. Maribeth Monato 01/26/2018
  74. Jan Daniel Bantan 01/26/2018
  75. Jan Daniel Bantan 01/26/2018
    • Gennelyn Gecalao 02/16/2018
  76. Unknown 02/16/2018
    • Nora Tamba 02/16/2018
  77. Joyceee Baby 02/17/2018
  78. Judy 02/20/2018
  79. Nora Tamba 02/20/2018
  80. Unknown 03/07/2018
  81. Yuuki Asuna 03/07/2018
  82. Nora Tamba 03/07/2018
  83. Joan Mariano 03/20/2018
  84. scarlett 03/26/2018
  85. scarlett 03/26/2018
    • Nora Tamba 04/25/2018
  86. Anonymous 04/06/2018
    • Nora Tamba 04/25/2018
  87. Dessa Marie Arimado 04/24/2018
  88. Nora Tamba 04/25/2018
  89. Anonymous 04/27/2018
    • Nora Tamba 04/27/2018
  90. Anonymous 04/27/2018
  91. Anonymous 05/16/2018
    • Nora Tamba 05/17/2018
  92. Mario, Jr. Ramos 07/05/2018
  93. AB Richards 07/09/2018
  94. Unknown 07/10/2018
  95. Unknown 07/11/2018
  96. Unknown 07/11/2018
  97. Unknown 07/19/2018
  98. Anonymous 07/30/2018
  99. Anonymous 07/30/2018
    • Camille Mahani 09/09/2018
  100. Unknown 08/14/2018
  101. Camille Mahani 09/09/2018
    • Unknown 09/15/2018
  102. Camille Mahani 09/09/2018
    • Anonymous 10/04/2018
  103. Liam de sequera 09/10/2018
  104. Unknown 09/24/2018
  105. Unknown 09/24/2018
  106. Unknown 10/01/2018
    • Anonymous 10/04/2018
  107. Jasmin 10/14/2018
    • sophia 11/17/2018
  108. mgray vicuña 10/24/2018
    • Anonymous 10/29/2018
    • sophia 11/17/2018
  109. Jonna samson 11/17/2018
    • sophia 11/17/2018
  110. A 11/23/2018
  111. Monica 11/28/2018
    • sophia 11/29/2018
  112. Nelu 01/02/2019
    • Nora Tamba 01/05/2019
  113. Ryan 01/04/2019
  114. Miriam 01/04/2019
  115. Miriam 01/04/2019
    • Nora Tamba 01/05/2019
  116. crislei 01/28/2019
    • Nora 03/25/2019
  117. Trixie Sy 02/01/2019
  118. Mavic delizo 03/25/2019
    • Nora 03/25/2019
  119. Oxeng 05/07/2019
    • Nora 05/07/2019
  120. Marinela F. Reyes 06/03/2019
    • Nora 06/03/2019
  121. rexy joyce lipalam 06/19/2019
    • Nora 06/22/2019
  122. karren 08/10/2019
    • Nora 08/10/2019
  123. Kulayn 08/30/2019
    • Nora 08/31/2019
  124. Shaira radaza 12/18/2019
    • Nora 12/18/2019
  125. Mai 01/14/2020
    • Nora 01/15/2020
  126. Jam 01/23/2020
    • Nora 01/23/2020
  127. Jelhyn delacruz sta ana 02/06/2020
    • Nora 02/07/2020
  128. rose 03/23/2020
    • Nora 03/24/2020
  129. Julia 10/07/2020
    • Nora 10/07/2020
      • Julia 10/07/2020
        • Nora 10/09/2020
  130. rheal 11/29/2020
    • Nora 11/30/2020
      • Chay 12/17/2020
        • Nora 12/17/2020
  131. lai 01/08/2021
    • Nora 01/13/2021
  132. Reyda tepait 01/13/2021
    • Nora 01/13/2021
  133. Donna 01/19/2021
    • Nora 01/20/2021
  134. Donna 01/20/2021
    • Nora 02/08/2021
  135. Donna 01/20/2021
  136. graceal 02/02/2021
    • Nora 02/08/2021
  137. Arthur Nicol 02/08/2021
    • Nora 02/08/2021
  138. analy 02/11/2021
    • Nora 02/27/2021
  139. Ann 02/27/2021
    • Nora 02/27/2021
  140. june 03/10/2021
    • Nora 07/03/2021
    • Nora 07/03/2021

Leave a Reply