GSIS expands partnership with LBP to cover active members
Date Posted: 2011-08-15 09:06:10
The Government Service Insurance System (GSIS) announced that beginning August this year, its more than 1.4 million members may already choose to have their loan proceeds and other benefits credited to a UMID (Unified Multi-Purpose Identification) eCard issued by the Land Bank of the Philippines.
By choosing LANDBANK as servicing bank, GSIS members would be able to benefit from LANDBANK’S wide network covering 327 branches and more than 900 ATMs nationwide.
With a LANDBANK-issued UMID eCard, members can withdraw their loan proceeds and other benefits in any Expressnet, Bancnet or Megalink ATM nationwide.
LANDBANK-issued UMID eCards also serve as a debit card in more than 20,000 accredited merchants nationwide and as a discount card for GSIS corporate partners such as Pfizer and STI.
The card is free with no maintaining balance required for members transferring to LANDBANK.
To recall, the GSIS renewed its partnership with LANDBANK in December last year, to give its more than 300,000 pensioners the choice to receive their monthly pension and other benefits through a LANDBANK ATM or thru their eCard.
“This renewed partnership with LANDBANK makes it easier for our members and pensioners, especially in the provinces to access their benefits and other loans,” said Robert Vergara, GSIS President and General Manager.
For her part, LANDBANK President and CEO Gilda Pico said, “As a partner of the GSIS in delivering improved service to its members especially in the rural areas, we share the commitment of the new GSIS leadership to provide excellent service for its stakeholders.”
To transfer to LANDBANK, members can visit the GSIS website www.gsis.gov.ph, log on to the eCard member transaction page and click the CHOOSE LANDBANK AS YOUR SERVICING BANK icon.
They can also email their name, date of birth, and UMID Common Reference Number (CRN) to email@example.com, or visit the nearest GSIS Field Office.
FAQs on LBP-Issued UMID Cards to ACTIVE GSIS MEMBERS
How will the active GSIS members who opted to transfer from Union Bank of the Philippines (UBP) to Land Bank of the Philippines (LBP) know when the LBP-issued UMID card will be available?
GSIS members who signified their intent to transfer their GSIS banking services to LBP will receive a text message from the GSIS that their new UMID card is available for pick-up from the LBP Branch they selected. However, they must first withdraw their account balance with UBP before proceeding to their specified LBP branch where they will be required to present their UBP card.
Why should the member first withdraw his/her account balance before claiming the LBP-issued UMID card?
Members are advised to withdraw their account balance with UBP because they will be asked to present their UBP-issued UMID card to the LBP branch, in lieu of the LBP-issued UMID card that will be issued to them.
The UBP-issued card shall be perforated by the LBP branch personnel in the presence of the member, to ensure that the card loses it validity and can no longer be used to transact with any ATM. Hence, the member should first withdraw his/her account balance with UBP before claiming his LBP-issued UMID card because once his UBP-issued UMID card is perforated/invalidated, he/she will have to withdraw his account balance “over-the-counter” from any UBP branch.
Can a member zero-out or withdraw all his/her account balance with UBP through the ATM?
No. ATMs usually do not dispense cash below PhP 100, because withdrawal through the ATM is only allowed for multiples of PhP 100, 500, and 1000 denomination. Hence, account balance below P100 cannot be withdrawn through the machine.
How then can a member zero-out or withdraw all his/her account balance if he wants to?
He can zero-out his account balance through “over-the-counter” withdrawal from any UBP branch nationwide. All he has to do is present his UBP-issued UMID card and a duly accomplished withdrawal slip to any UBP branch and he will receive all his account balance with UBP up to the last centavo.
Is there a need for a member to inform UBP that he has opted to transfer this UMID account to LBP, thus, he is zeroing-out his account balance?
No, it is not a requirement. But such information is encouraged so that UBP can immediately close his account and not wait for the account to become dormant.
What happens if the member lost his UBP-issued UMID card? Can he still claim his LBP-issued UMID card?
Yes. Member has to execute an affidavit of loss detailing the circumstances as to how and when his card was lost.
Where can a member get his new LBP-issued UMID card?
A member who has received a text message informing him that his LBP-issued UMID card is ready should pick it up at the specified LBP branch after zeroing-out his account balance with UBP.
Is there a deadline for claiming the UMID card from LBP?
Normally, the shelf-life of an ATM card is only three (3) months from date of issue. Hence, members are encouraged to claim their cards at the soonest possible time.
Will a member be allowed to transfer back to UBP?
No. A member will no longer be allowed to transfer his UMID account back to UBP.