Today is the day that I figured out how to pay online the Modified Pag-IBIG II (MP2) contribution.
OK. Honestly, the how-to tip has been in my draft for a long time. And today is the day that I get to do the chore of paying online. This is going to be an informative post embellished with rant.
This is fun and easy, says the fantasy. What follows is the reality of how doing an online transaction in the Philippines is like a “box of chocolate” with pure lemons for a drink.
What’s Modified Pag-IBIG II Again?
If in case you are hesitating to save through the MP2 program, then why not spend a few minutes to brush up on my another post Why I Started Saving on Modified Pag-IBIG II.
But if you are all sold out on the idea that you want to save and earn dividends within 5 years simply by constantly saving at your on pace, then better start paying.
Tip: Make the MP2 contribution a gift to yourself at the present and most importantly to your future self.
How to Pay Online the MP2 Contribution
Didn’t I tell you ahead that it is easy? Or did you just remember the box of chocolates. Sweet. But not this post.
- PayPilipinas is the only way I can pay online for my MP2 contribution. (Let me know if you find another way.)
- Credit card is my mode of payment. I managed to open a PNB account overseas (Canada) but I’m still waiting for the ATM card. I also use my credit card to pay online for the Pag-IBIG contribution. (It’s the most convenient, fastest, and guaranteed way to pay as a Pag-IBIG member.)
Stay with me here. You can pay online and offline to fund the Paypilipinas account.
For this post, I chose my credit card because I have NO other option and I don’t have to pay the foreign conversion fee (2.5%) which is charged by most credit cards in Canada.
The first 5 steps is about adding money in your PayPilipinas account.
Step 1: Register on PayPilipinas. Log in after activating the account through the email.
Step 2: Click Top Up in the dashboard to add a fund in your account.
Step 3: Choose the mode of payment. I chose Use Mastercard or Visa.
Ways to Pay:
- Online Banking (Philippines)
- BPI Express Online
- Metrobank Direct
- PNB Personal Internet
- RCBC Access One
- Chinabank Online
- Use Mastercard or Visa
- Over the Counter (choose your location/country)
List of Agents for PayPilipinas Top UP in Canada (for Over the Counter)
- FILEREMIT – Manila Express Canada
- Metro Remittance Center, Inc. (Canada)
- PNB RCC Mississauga Branch
- PNB RCC Scarborough Branch
- PNB Remittance Company (Canada) – Main Office
- PNB RCC Sherbourne Branch
- PNB RCC Surrey Branch
- PNB RCC Vancouver Branch
- PNB RCC Wilson Branch
- PNB RCC Winnipeg Branch (Marketing Office)
Step 4: Use a currency converter (eg. my favourite is XE) to “Enter top up amount in USD.” I didn’t like this part because i have to convert PHP to CAD to USD.
You’ll pay through Pesopay just like when I pay the Pag-IBIG contribution online using my credit card.
Step 5: Print the Transaction Result and click Home in the menu. Your done
The next set of steps is for paying the MP2 contribution.
Step 6. Go to Make Payment > New > SSS or Pag-IBIG Payment > MP2
Step 7: Enter your information in the Member Detail. Choose “OFW” for the Member Type
Enter Payment Details: Pag-IBIG Number, MP2 Number, and Contribution. You can either Save or Pay Now If you choose to save you have till the next day to complete the transaction.
Note: You’ll get a message if you don’t have enough fund in the account: Please top up your account to proceed with transaction.
It’s easier and shorter to write the process isn’t it? If you are one of the millennials or the tech-savvy crowd, you would prefer to pay online the MP2 contribution.
But you may think twice if you choose to pay with a credit card.
You have to keep on reading to find out the rest of the process. Why I didn’t add it here instead?
The details need a lot of space and attention. I don’t want to clutter this part of the post that could lead to confusion. So hurry now to the next part before you change your mind.
What to Expect if You Pay with a Credit Card
Writing this part is like drinking a sour lemon. I hate it but I have to.
I prefer chocolates and honesty so I’ll share my experience on the day when it was gloomy outside and my credit card and I had . . . well . . . a gloomy day.
1. The High Fees
Although I can get points by using my credit card, I can’t ignore the fees that comes with it.
- Php 50.00 fee for every Pag-IBIG payment
- Additional 4% of the total transaction amount.
If you want to pay SSS and other Pag-IBIG programs, take note of the transaction and service fees. But I’m quite sure using a credit card has the highest total fee so far. Do correct me if I’m wrong.
Tip: You only have to pay 3.6% of the Pag-IBIG monthly contribution if you choose to pay online using a credit card on the Pag-IBIG Payment Facility. You CANNOT pay the MP2 contribution on the same website.
2. Additional Requirements
I figured that if I would pay the MP2 contribution quarterly or once in a year then I can save. For convenience and peace of mind, I don’t mind spending.
Then comes an email that made me question if I should pay online through PayPilipinas. It’s unusual out of my online payment experiences as an OFW to do more tasks:
- Submit 2 valid IDs
- Make a Skype video conference
I had a Skype chat and call before with few kababayan in the Philippines and startup employees but never about my credit card.
Should I continue after all the trouble I had in a day? I’ll let you know how it goes so you’ll know what do in the same situation.
Update on Skype Call (November 26, 2017):
I scheduled the video call on Friday but I received a confirmation on Saturday afternoon. Because I’m a night owl and an early bird, it doesn’t matter to me whenever is the video conference as long as I’m not at work.
Right after work and trying not to look like a zombie, I sent a message to PayPilipinas for the Skype video call to be done with it ASAP.
Everything went well before midnight (Canadian MDT time). The IDs and credit card that I submitted via email were also shown during the video and so was my constant yawning (which I tried to discreetly execute.)
The only thing left to do is to wait for my PayPilipinas account to receive the fund from my credit card. More updates to come.
3. The Struggle
I have no other way of describing the last phase: paying MP2 contributions through PayPilipinas. Honestly, I never thought I would have anything to add in the process because I called through Skpe and settled the payment. But no.
It’s important for you to find out the struggle I had. The process stretch my patience to extreme and I’m glad it’s all over. Taylor Swift had me screaming I’m Out of the Woods.
OK now. Let’s settle and I’ll walk you through my journey (which could be yours).
The Next Phase after the PayPilipinas Account is Funded:
1. Check the credit card if it is credited. You’ll see PAYPILIPINAS-USD in the transaction.
2. Log in on the PayPilipinas website using verification code that is sent only through SMS (text message). If you don’t have a Philippine phone number, use your non-Philippine mobile number. Canada is not in the list.
The Solution: Use someone’s phone number in the Philippines. I asked my brother who promptly response most of the time and awake at that moment.
Warning: Each verification code send via SMS in the Philippines costs US$0.50 (almost Php25.00). It is deducted to the Top Up Wallet.
For some reason, I had to get get another verification code; I ended up paying US1.00 for the text message alone. Disappointed, I stretched further my patience like the Great Wall of China. So much time and moola were spent already. I will live to tell the story.
To avoid paying the ridiculous unnecessary SMS fee, clear the cache after requesting for the 1st code. Close the browser or better yet use another browser.
3. Log in > Make a Payment > New > Pag-IBIG Payment > MP2
Here’s another disadvantage of the system. You have to do the math. The lack of exchange rate conversion makes the task harder.
I literally have to do the math (1 USD = 49.08 PHP) to make sure that I’ll be able to send all the money; I almost did. (There’s a 0.09 USD left = 4.4172 PHP). What will I do with the balance. Sayang din ang 4.00 pesos pangdagdag sa eload ng cellphone or pambili ng taho (my favourite almusal).
Here’s another confusing computation. Was it jut me? I’m open for explanation.
4. Confirm the payment once you are sure. Sorry I can’t do the math for you. Print the receipt when you’re done.
5. Check the transaction: Home > View Reports >Statement of Account
It was a success though tasks kept adding up every time I get closer in reaching the goal.
In hindsight, If only I had known how long the process is, I wouldn’t have gone this route or not save in MP2 at all. This is such a barrier for OFWs who are preparing to go home and someday retire comfortably.
Don’t get me wrong the idea is great but the process is painful, time consuming, and confusing.
The only thing I like is the fast reply of the chat support. (I sent a message online and Skype and received a reply in the email).
It’s your call. After you’ve learned the process, it’s up to you to pay the MP2 through PayPilipinas or not. Either way, let’s keep on saving and investing.
4. My Choice
After what I’ve been through, I’ll use the experience to my advantage when it comes to paying online the Pag-IBIG contribution:
- PayPilipinas (for Modified Pag-IBIG II Program)
- Pag-IBIG Online Payment Facility (for regular monthly savings without annual dividends)
For both contributions, I’ll request for record of payment. At least this part is fast and easy; there’s nothing to worry and no more Math.
Not everything that can be done online means convenience. I thought it would be easier to use PayPilipinas.
Well like having a term life insurance, paying MP2 contribution online brings peace of mind. I don’t have to ask favour to my family in the Philippines to pay on my behalf.
For now this might work for me but I’ll still look for other ways to pay less transaction fee like investing in ETF. Save more; spend less.
How do you pay for Modified Pag-IBIG II contribution whether in the Philippines or abroad?
Photo Credit (table): pagibigfund.gov.ph