Special Bank Accounts to Allow Low-income Grant Recipients to Receive Digital Disbursements

Debated in Parliament on 2 Aug 2022.

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Assoc Prof Jamus Jerome Lim asked whether the transition to digital disbursements is hindered by low-income grantees lacking bank accounts and if special accounts could be created for them.
Masagos Zulkifli B M M confirmed that Social Service Offices currently use cash and vouchers but plan to move to digital disbursements via bank transfers.
He noted that banks already assist clients in opening accounts without fees and the government will continue encouraging account opening to ensure access to financial services.

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Assoc Prof Jamus Jerome Lim

Assoc Prof Jamus Jerome Lim asked the Minister for Social and Family Development (a) whether the effort to implement digital disbursements to replace cash and supermarket vouchers at the Social Services Offices (SSOs) is hindered by low-income grantees who have no access to banking services; and (b) whether special bank accounts may be created for SSO recipients not currently in possession of a bank account in order to receive these disbursements.

Masagos Zulkifli B M M

Social Service Offices (SSOs) use cash and supermarket vouchers in dispensing interim financial assistance today. We have announced plans to transit to digital disbursements and are exploring transfers to client's bank accounts.

Today, banks already help SSO clients open accounts without a minimum deposit or fall-below fee1. We will continue to encourage clients to open accounts if they do not have one, as it is beneficial to them to not be excluded from access to financial services.

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the transition to digital disbursements is hindered by low-income grantees lacking bank accounts and if special accounts could be created for them.
Masagos Zulkifli B M M confirmed that Social Service Offices currently use cash and vouchers but plan to move to digital disbursements via bank transfers.
He noted that banks already assist clients in opening accounts without fees and the government will continue encouraging account opening to ensure access to financial services.

Questions identified by AI (learn more)

Special Bank Accounts to Allow Low-income Grant Recipients to Receive Digital Disbursements | PAPERCUTS

Special Bank Accounts to Allow Low-income Grant Recipients to Receive Digital Disbursements

Debated in Parliament on 2 Aug 2022.

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the transition to digital disbursements is hindered by low-income grantees lacking bank accounts and if special accounts could be created for them.
Masagos Zulkifli B M M confirmed that Social Service Offices currently use cash and vouchers but plan to move to digital disbursements via bank transfers.
He noted that banks already assist clients in opening accounts without fees and the government will continue encouraging account opening to ensure access to financial services.

Questions identified by AI (learn more)

Full Transcript

Assoc Prof Jamus Jerome Lim

Masagos Zulkifli B M M

Summary written by AI (learn more)

Assoc Prof Jamus Jerome Lim asked whether the transition to digital disbursements is hindered by low-income grantees lacking bank accounts and if special accounts could be created for them.
Masagos Zulkifli B M M confirmed that Social Service Offices currently use cash and vouchers but plan to move to digital disbursements via bank transfers.
He noted that banks already assist clients in opening accounts without fees and the government will continue encouraging account opening to ensure access to financial services.

Questions identified by AI (learn more)

Special Bank Accounts to Allow Low-income Grant Recipients to Receive Digital Disbursements

Summary

Questions Identified

Full Transcript

Assoc Prof Jamus Jerome Lim

Masagos Zulkifli B M M

Summary

Questions Identified

Special Bank Accounts to Allow Low-income Grant Recipients to Receive Digital Disbursements

Summary

Questions Identified

Full Transcript

Assoc Prof Jamus Jerome Lim

Masagos Zulkifli B M M

Summary

Questions Identified