A new membership programme where migrant workers in Singapore can reap the benefits in banking, remittances, and other services was rolled out on Thursday (Feb 22) by NTUC secretary-general Chan Chun Sing. Available for free, the initiative was the result of collaboration between the Migrant Workers’ Centre (MWC) and POSB.
In a joint release, MWC and POSB said that members can look forward to savings on services that they use on a daily basis, including mobile plans and bicycle sharing. As the first of its kind for foreign workers, the MWX-POSB membership is set to be offered in two phases.
New migrant workers who have their work permit applications submitted from April 1, and whose employers have opened a POSB bank account for them, will receive an ATM card that can automatically be used as a membership card. By the fourth quarter of this year, existing migrant workers with POSB bank accounts can register for the membership through the POSB Jolly app and get a digital membership card.
Up to 200,000 workers could benefit in the first year of the membership scheme, said MWC and POSB. As of June 2017, there were some 975,800 work permit holders in Singapore, including foreign domestic workers, who are not eligible for the membership programme, Straits Times reports.
The initiative was built on the existing Work Pass Application system that provides an option for employers to open POSB bank accounts for their workers when they apply for work permits. MWC hopes more employers who pay salaries for their workers electronically will open bank accounts. When registered, members can use banking services through the POSB Jolly app.
Another feature includes sending money to their home through a remittance service tie-up between POSB and money transfer firm Moneygram, or with other partner companies listed in membership programme. The workers will also receive a new insurance scheme, which was available to members under NTUC Income to protect them against serious injury or non-work-related death.
See: Work Income for Less Well-off Households in Singapore Grew at Slower Pace
The members will also get offers from StarHub on data, talk-time and product bundles, as well as discounts on airfares and seasonal package offers from participating travel agencies. MWC also worked with bicycle sharing operator oBike to provide discounts and seasonal offers.
Mr Chan said that the agencies have managed to build a network that provides them with a one-stop service that can help them make easier and better settlement in Singapore.
Meanwhile, MWC chairman Yeo Guat Kwang said that the membership scheme is part of ongoing efforts to improve migrant workers’ work and living conditions in Singapore. He added that MWC will target newly arrived migrant workers first.
The migrant worker’s centre will subsequently visit dormitories, recreation centres, and areas where workers congregate in September, to help the 500,000 workers who already have POSB accounts sign up for the membership programme.
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