Migrant Workers to Get Discounts on Insurance and Remittances

The Migrant Workers’ Centre (MWC) in collaboration with POSB Singapore has launched a free membership programme which offers benefits and discounts on insurance and remittance for migrant workers last Feb. 22.

The programme is the first of its kind here in Singapore, which enables migrant workers to gain access to savings and services which they can use for their everyday activities through the POSB Jolly app.

Image Credit: MWC FB Page

MWC-POSB’s Free Membership Programme Offers Discounts on Insurance and Remittances for Migrant Workers in Singapore

Services offered through the POSB Jolly app include insurance coverage, telco and remittance services, travel perks as well as easier rent access to oBikes.

One of the key trade players who has partnered with the programme is MoneyGram, which allows remittance to banks overseas and lets migrant workers send their earnings to their entitled beneficiaries in their home countries for collection via MoneyGram cash collection points.

The MWC and POSB are looking at some 200,000 migrant workers in Singapore who will potentially benefit from the services and assistances from the programme during its first year of operation.

Image Credit: MWC

According to Mr. Chan Chun Sing, Secretary-General of the National Trades Union Congress (NTUC), the free membership programme delivers products and services that will be of great help to migrant workers, which, in turn, would allow them to maintain communication with this working sector to provide necessary aid and support to them.

The programme, according to Mr. Chan, will be introduced in two phases, the first of which intends to target newly-arrived migrant workers who will have submitted their permit applications by April 1.

The succeeding process would entail an employer to open a new POSB bank account for a newly-hired migrant worker, wherein an MWC-POSB membership and ATM card will be issued.

Mr. Yeo Guat Kwang, Chairman of MWC, pointed out that one of the challenges of the programme would be in the second phase of the membership campaign, where they will be targeting settled work permit holders with POSB accounts.

Chairman Yeo shared that work permit holders can sign up for the MWC-POSB Membership programme as soon as the self-sevice option has been integrated into the POSB Jolly app, which is likely to push through sometime in the fourth quarter of 2018.

As of June last year, there have been approximately 975,800 registered work permit holders, which include around 243,000 foreign domestic workers, who are currently not covered by this programme.

A separate membership programme intended for helpers is expected to roll out in September. This is part of the plans of the DBS to offer e-services to foreign domestic workers (FDWs) in the future, shared Mr. Sim S. Lim, DBS Singapore Country Head.

An e-service membership programme will offer similar benefits and practical services which FDWs can take advantage of on top getting paid through simpler and easier e-service payment methods instead of cash.