Rewire enables no-fee social security payments for Filipino migrants

By Sunniva Kolostyak

Rewire, the challenger bank for migrants, has announced that it will be able to allow overseas Filipino workers to pay Social Security System (SSS) with no fees, following a partnership with a Philippines government authorised company.

Rewire, which offers migrants banking services such as remittance and a European bank account and debit card, is now also enabling SSS payments through the app, completed instantly and available 24/7.

Enabling the payments is an important part of making banking stress-free for migrants as it ensures security across maternity leave, retirement and illness, disability or even passing, Guy Kashtan, CEO and Co-Founder of Rewire, said.

“Many migrants that move from the Philippines to Europe for work rely on Rewire for digital banking. Those OFWs [Overseas Filipino Workers] are very much needed in different countries across Europe such as Germany, Ireland and Finland, not just in times of COVID-19, but more on a sustaining basis,” Kashtan explained.

LISTEN: Guy Kashtan, CEO and Co-Founder of Rewire, discusses serving migrants, including those from the Philippines, in episode 60 of the IBSView podcast.

The service is only offered to users for whom the SSS payment can be relevant for, through the Rewire website or app. The payment process takes less than two minutes.

Meril Weber, Head of Filipino Community at Rewire, commented: “Being able to contribute to the lives of Filipino migrants, to unburden those professionals and to show them that they can lean on us when their lives change drastically, is a privilege.

“We tend to forget that migrants are not only contributing to the generation of new wealth. They are also pioneers in an informal social movement towards emancipation. Often, migrants wish to improve the quality of life or seek professional development and better living conditions in general. We are proud of our technical offer and infrastructure for the deposit, in order for Rewire to support them in their lives and in giving access to finances that will help their families.”