So you finally managed to setup your Virtual Pag-IBIG account. You can already check your existing regular contributions, and you have opened your first Pag-IBIG MP2 account. How then do you get to add fund to your Pag-IBIG MP2 account?
Currently, there are the following ways:
- HR Method
- Online payment via Virtual Pag-IBIG
- Paying through E-Wallets
We’ll tackle them one by one below. 🙂
You can get your human resources (HR) department to automatically deduct a portion of your monthly salary and add it to your MP2 account! Ask your HR colleagues if such an option is available, as it is quite convenient. There is no need to manually do it monthly. Also, you can track it from both your monthly payslip as well as via online, on Virtual Pag-IBIG.
If they don’t support this method, then it’s not a problem, as you have two equally convenient options below. 🙂
Online payment via Virtual Pag-IBIG
Paying for your various Pag-IBIG-related loans has never been easier ever since the launch of the Virtual Pag-IBIG last November 2019. It’s the same case for adding funds to MP2!
Once you are able to login to vPagIbig, access the left-pane menu and click on Pay OnLine, then click on MP2 Savings.
Provide your details to add fund to Pag-IBIG MP2
The main panel of the site then shows a form with a lot to fill in. Don’t get intimidated! There are a lot of fields but these are the only things you need to focus on:
- Choose your Membership Category (Local or Overseas).
- Provide your Modified Pag-IBIG II Account Number, then click Verify. Doing so will auto-populate the rest of the fields based on your records!
- Under Modified Pag-IBIG II Savings (PHP), indicate the amount you wish to contribute. The Amount Due and Convenience Fee further below then automatically recomputes based on your input here. (Take note of the 1.75% surcharge!)
- Next, choose the month and year under Period Covered From where this contribution is to be considered. The Period Covered To field automatically updates as well.
- (Optional, but recommended): Tick the checkbox(es) that will send confirmation of payment to your indicated SMS and email. This is for your personal copy once confirmed.
- Provide the displayed code for validation.
- Tick on “I Agree with the Terms and Conditions” to proceed.
- Click Next.
The next page will summarize all of the items you provided. If you are happy with the details, click on Proceed to continue to payment.
Provide your payment details
In the succeeding screen, you may choose whether to use your credit or debit card to add fund to your Pag-IBIG MP2. If you do so, simply provide your name, card number and the CVV code, typically found at the back of your card.
Take note that some banks are already implementing one-time passwords (OTP), which usually send a six-digit code to your SMS to be able to proceed with the transaction. Check with your bank if they have already implemented this additional layer of security for your credit or debit card.
Once the transaction completes, a confirmation will be shown to you, as well as via SMS and email (if you chose those options earlier). Congratulations! You have successfully added to your MP2 savings!
Paying through E-Wallets
Aside from credit and debit cards, you can also add funds to your MP2 using your e-wallets! This is probably the more accessible option between the two, as not everyone has a credit card. In contrast, more and more Filipinos are getting accustomed to using e-wallets nowadays.
Gcash has been offering the ability to add funds to MP2 accounts even before vPagIbig launched. To start, open your Gcash app, and follow the steps below:
- On the dashboard, tap on Pay Bills.
- Under Biller Categories, tap on Government.
- Under the list of billers, tap on Pag IBIG.
- Provide your Pag-IBIG MP2 account details:
- Type: Modified Pag-IBIG II Savings
- Account number
- Period Covered From (in format yyyymm)
- Period Covered To (in format yyyymm) — you may choose to set the same date as the “From”.
- Email address
- Gcash will now ask for your confirmation to proceed with payment. Take note that proceeding with this transaction will charge your Gcash five pesos on top of your nominated MP2 investment. Tap Confirm to continue.
- Success! Gcash will now confirm your payment, indicating the overall total amount deducted from your Gcash account. Don’t forget to save a copy of this transaction by tapping that “Download” icon on the top-right corner of the app. 🙂
How soon does adding funds reflect on your MP2 Account?
Three days. I added funds to my MP2 account on a Monday. This was both via online payment and via e-wallet, just to try out an experiment. I checked my MP2 transaction history daily on Virtual Pag-IBIG. Three days later, it was already there in the history, reflecting both payments!
We tackled three main ways of adding funds to your Pag-IBIG MP2 account. The first involves your HR if they support adding to your MP2. This is the easiest, and it doesn’t cost you any extra charges. The second is via Virtual Pag-IBIG’s online payment gateway. It charges 1.75% on top of your nominated investment, but at least it can allow you to invest either using credit or debit cards. The third option is via the use of e-wallets like Gcash. In Gcash’s case, it charges a flat fee of P5.00 regardless of amount to be invested.
Hopefully, regardless of the method you choose, you get to invest your hard-earned money regularly, so you can reap its benefits in due time! Happy investing!