SSA Phil Bank deposit

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SSA Phil Bank deposit


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Old 13th August 2019, 02:55 AM
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Default SSA Phil Bank deposit

I was receiving my daughter SSA payments from China Bank but they discontinued this service and closed my account. Do anyone knows of any other bank in the Philippines that still do this?

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Old 13th August 2019, 09:24 AM
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Tony here's a link to the US Embassy in Manila the Social Security branch https://ph.usembassy.gov/u-s-citizen...cial-security/

I use PNB and they take pension account or SS but I think the account name has to match the member or that's what they told me, I couldn't even put my wife's name on a pension account.

Hopefully somebody else can help you with questions.


Contact Information US Embassy Manila Social Security:

Phone: +63-2-301-2000 extension 9, from 8:00 AM to 11:00 AM, Tuesdays and Thursdays, except on Philippine and U.S. holidays.
Fax: +63-2-708-9723 and +63-2-708-9714
E-mail: [email protected]
Website: www.ssa.gov
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I am not a regulated immigration adviser. I am offering an opinion and not advice. Check here for professional help with the Philippine Bureau of Immigration PBI https://www.facebook.com/officialbureauofimmigration or Philippine Retirement Authority PRA for an SRRV Visa https://pra.gov.ph/contact/

Last edited by M.C.A.; 13th August 2019 at 09:39 AM.
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Old 14th August 2019, 08:48 AM
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Quote:
Originally Posted by Phil_expat View Post
I was receiving my daughter SSA payments from China Bank but they discontinued this service and closed my account. Do anyone knows of any other bank in the Philippines that still do this?
When we applied last year the Embassy was a bit worthless with bank information. They have a list but it is not updated very often. When we went to the banks, the fees were different than the list.

What you probably do need from SS is a statement of benefit or whatever they call it. BDO and Metrobank would not open accounts for my two kids because we did not have that letter, even though we had an approval letter. My BPI branch accepted what I had, probably because I know them.

So there are three for you, BDO, Metrobank and BPI. Watch out for the fees! I think Metrobank was the cheapest, or even free. We pay $6.50 a month X 2 at BPI for the privilege of giving them a deposit every month!

Gene, our former moderator here, RIP, used to get it for free at Metrobank but he might have been grandfathered in. If you search you can probably find our old posts on the topic.
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Old 14th August 2019, 02:33 PM
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Okay so I got a little valuable information from a member and I would like to pass this on to others that are getting close to collecting US Social Security, I'm 5 years away and this issue won't affect me my kids are too old and married but this could be helpful to many members who are near retirement or about to collect US Social Security.

When you start receiving Social Security retirement benefits, some members of your family may also qualify to receive benefits on your record.
If they qualify, your spouse or child may receive a monthly payment of up to one-half of your full retirement benefit amount. These payments will not decrease your retirement benefit. Your eligible child can be your biological child, adopted child or stepchild. A dependent grandchild may also qualify.

To receive benefits, the child must:

be unmarried; and
be under age 18; or
be 18-19 years old and a full-time student (no higher than grade 12); or
be 18 or older and disabled from a disability that started before age 22.
Normally, benefits stop when children reach age 18 unless they are disabled. However, if the child is still a full-time student at a secondary (or elementary) school at age 18, benefits will continue until the child graduates or until two months after the child becomes age 19, whichever is first.

Benefits paid for your child will not decrease your retirement benefit. In fact, the value of the benefits they may receive, added to your own, may help you decide if taking your benefits sooner may be more advantageous.

https://www.ssa.gov/planners/retire/applying7.html
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I am not a regulated immigration adviser. I am offering an opinion and not advice. Check here for professional help with the Philippine Bureau of Immigration PBI https://www.facebook.com/officialbureauofimmigration or Philippine Retirement Authority PRA for an SRRV Visa https://pra.gov.ph/contact/

Last edited by M.C.A.; 14th August 2019 at 02:38 PM.
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Old 14th August 2019, 03:44 PM
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Quote:
Originally Posted by M.C.A. View Post
Okay so I got a little valuable information from a member and I would like to pass this on to others that are getting close to collecting US Social Security, I'm 5 years away and this issue won't affect me my kids are too old and married but this could be helpful to many members who are near retirement or about to collect US Social Security.

When you start receiving Social Security retirement benefits, some members of your family may also qualify to receive benefits on your record.
If they qualify, your spouse or child may receive a monthly payment of up to one-half of your full retirement benefit amount. These payments will not decrease your retirement benefit. Your eligible child can be your biological child, adopted child or stepchild. A dependent grandchild may also qualify.

To receive benefits, the child must:

be unmarried; and
be under age 18; or
be 18-19 years old and a full-time student (no higher than grade 12); or
be 18 or older and disabled from a disability that started before age 22.
Normally, benefits stop when children reach age 18 unless they are disabled. However, if the child is still a full-time student at a secondary (or elementary) school at age 18, benefits will continue until the child graduates or until two months after the child becomes age 19, whichever is first.

Benefits paid for your child will not decrease your retirement benefit. In fact, the value of the benefits they may receive, added to your own, may help you decide if taking your benefits sooner may be more advantageous.

https://www.ssa.gov/planners/retire/applying7.html
Another perk not mentioned is that if your Filipina wife does not qualify for SS as your dependent (she has to live in the U.S. for 5 years) and you have a child who is qualified (just need to be U.S. citizen under 18) then it is possible for your wife to qualify for a benefit as "caregiver" of the child! I can't find a good link but it is possible.
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