More News
FINANCIAL SERVICES | Staff Reporter, Singapore

POSB and MWC launch membership programme for migrant workers

It will further push the proposal for mandatory electronic payment of salary for migrant workers.

The Migrant Workers’ Centre (MWC) and POSB, a DBS group company, yesterday launched a membership programme to help migrant workers save extra money from remittance, telco, and travel service costs.

The programme brings together various merchants to offer basic electronic banking and remittance services. It rides on the existing Work Pass Application system that allows employers to open POSB bank accounts for their migrant employees.

In line with this, members will be allowed to use POSB’s online banking service which features an updated remittance capability that will allow them to remit money to Bangladesh, India, Indonesia, and the Philippines. They will also receive a POSB ATM card that doubles-up as a NETS 2.0 transit-enabled card.

Besides that, a Migrant Worker Group insurance will be added to the NTUC income. StarHub Mobile will also provide top-up, data and talk time bonuses to members, whilst partner travel agencies will give airfare discounts and seasonal travel packages.

POSB and MWC expect up to 200,000 migrant workers to benefit from the programme. “By availing mobile banking services to them, the workers will be able to safekeep their own money whilst having easy access to it. This will enable workers to, at any time, remotely enquire if their salaries have been credited, giving them greater peace of mind.”

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.