Social transfers for the Unemployed due to Covid-19 and for Minors under 18Please be informed that transfers of Covid-19 unemployment benefits and benefits for minors under 18 will take place gradually, to the account you indicated on the Social Service Agency portal. Transfer dates are determined by the Social Service Agency. Should you have any questions, please call the hotline at 1505. Social benefits for minors under 18 will be transferred before 10 September. If you are an SMS service user, you will receive an SMS notification upon transfer. The transfer will also show in your internet and mobile banking account. |
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Covid-19 unemployment benefit transfers
Frequently Asked Questions
When will I receive the social benefit?
- Transfer dates for social benefits are determined by the Employment Agency. Transfers will be made gradually.
Can I withdraw the amount immediately?
- Yes, you can.
To which account will the social benefit be transferred?
- To the account you indicated on the Social Service Agency portal.
Shall I receive a transfer notification?
- If you are an SMS service user, you will receive an SMS notification upon transfer.
Will the Bank use my social benefit to pay down my loan?
- Your social benefit can only be used for paying down your loan upon your approval.
How can I apply for directing my social benefit towards paying down my loan?
- If you have a grace period on your loan, you will receive an SMS message from the Bank, through which you will be able to confirm your intention to pay down your loan with the social transfer. Or, you can call or visit any TBC branch.
If I refuse to pay down my loan with the social transfer, will I be able to change my decision later?
- Yes, you will.
What shall I do if I do not wish to pay down my loan with my social benefit?
- If you have a grace period on your loan, you will receive an SMS message from the Bank or your Personal Banker will contact you. If you do not express your intention to use your social benefit for paying down your loan, the Bank will assume by default that you are not willing to do so. In this case, the Bank will open a special temporary account where to transfer your social benefit. You will not have to take any additional steps. The social benefit transferred to a special account will not be swept for paying down your loan.
Will the special account with my social benefit show in my internet/mobile banking account?
- Yes, it will.
How can I withdraw cash from the special account? Through which channel?
- You can withdraw cash transferred to your special account in a branch. You can also transfer the cash to your other account via internet/mobile banking. If you transfer it to your card account, you will be able to withdraw the money from an ATM.
Social transfers for minors under 18
Frequently Asked Questions
When does the Bank open a special account and why?
- A special account is only opened if you have a loan with TBC Bank. Your social benefit will be automatically transferred to this account. Cash will not be swept from your special account to pay down your loan.
Does the bank charge a fee for a special account?
- No, a special account is not subject to the opening and monthly service fees.
Will I keep the special account indefinitely?
- No, your special account will be closed automatically upon the completion of the social benefits programme and the balance will be transferred to your other account.
If I transfer the social benefit amount from the special account to my other account, will my social benefit be directed towards paying down my loan?
- If the social benefit amount is transferred from your special account to your other account on the loan payment due date, or if the loan payment is overdue, your social benefit will be used to pay the outstanding amount on your loan.