INSS magnetic card: how to obtain and use it for a payroll loan
Find out how to request and use the INSS magnetic card to receive your Social Security financial benefits. Check out the details!
Currently, it is common for Social Security retirees and pensioners not to have an account with banks or financial institutions. So, to receive your benefits, the INSS magnetic card is the solution. But how to achieve this INSS magnetic card? Follow below to find out!
What is the INSS magnetic card?
The INSS magnetic card is an instrument provided by the National Social Security Institute for beneficiaries who do not have a bank account.
With this card, retirees and pensioners can carry out a variety of financial operations, such as:
- Receive your benefit payments directly at the bank's ATMs;
- Make withdrawals;
- Consult balances and statements;
- Between others.
Furthermore, the card can be used to make purchases at commercial establishments that accept the card brand.
The objective of the card is precisely to provide greater practicality and security when accessing INSS benefits, without having to go to the agency.
BENEFIT
Pis/Pasep
PIS/PASEP may also be available to you. Check out the main information about it here!
CHECK * You will remain on the current siteHow to get an INSS magnetic card?
In principle, this card option is a right for INSS beneficiaries, which can be issued directly by the financial institution mentioned in the benefit grant letter or directly by the INSS.
Know that there are two ways to get your card, the first is through the INSS Portal, it is the most practical and simple option to obtain your card, because you don't even need to leave your home.
It's Monday, it's time to request your social security benefit. Firstly, you need to inform that you want payment via magnetic card.
Then, after approval of the benefit, the card must be delivered to your home within a period of up to 30 days.
How is the card sent?
The magnetic card is sent by post to the beneficiary's home address. The Post Office has a deadline of up to 30 days for delivering the INSS magnetic card after the benefit has been granted.
Furthermore, it is worth noting that this period guarantees that the card reaches the beneficiary's home address safely and within a defined period.
Use of the INSS magnetic card
It works like a withdrawal card, allowing you to withdraw your benefit at ATMs or at the branch. After issuance, it must be unlocked in person at the agency indicated in the concession letter.
Generally, the first payment occurs within 45 days, after which the card will be available for use with retirement, pension or INSS assistance.
Issuing the card is free and the financial institution offers a basic package with withdrawals and limited consultations.
If you are already a customer of the indicated bank or another, you can opt for a more complete package and add the debit function. Furthermore, if you have an account at another bank, you will need to request a payment transfer to that institution.
BENEFIT
How to check FGTS balance?
FGTS may also be available to you. Check here how to check to see if you have an available balance in your account!
CHECK * You will remain on the current siteHow does a payroll loan work for those using an INSS magnetic card?
In principle, the payroll loan is a credit for those with a stable income, such as public servants, retirees and INSS pensioners, with installments deducted directly from the benefit.
With a payroll loan, there is a limit on interest and how much of the benefit can be compromised, ensuring that the budget is not overloaded.
If you receive payment via magnetic card, you must inform the account during the contract. Generally, the loan amount is released within 3 to 5 business days, which may be faster in some cases.
