THE Bangko Sentral ng Pilipinas (BSP) said banks and other BSP-supervised financial institutions (BSFIs) should place the national ID at the top of the list of acceptable government IDs.
In a statement, the BSP said measures must be enhanced to ensure the broad acceptance of the PhilID as a valid and sufficient proof of identity and age in all financial transactions, subject to authentication.
BSFIs, BSP said, may use the PhilSys Check identity authentication tool to verify if the data stored in the QR code match the information printed on the face of the ID.
“The BSP has identified the national ID as a driver of financial inclusion in the country by serving as proof of identity for opening formal transaction accounts,” the BSP said in a statement. Meanwhile, the Philippine Statistics Authority (PSA) welcomed the issuance released by the BSP to prioritize the PhilID and ePhilID in the list of accepted IDs in financial transactions.
“We, at the PSA, express our appreciation for the continued support of institutions in the acceptance of PhilIDs and ePhilIDs,” said PSA Undersecretary Claire Dennis S. Mapa, PhD, National Statistician and Civil Registrar General.
“In the same way that we encourage registered persons to utilize their PhilID or ePhilID in their transactions, we also urge our relying parties to honor the IDs issued by the Philippine Identification System [PhilSys] as valid proof of identity in their establishments,” he explained.
The BSP, through Memorandum No. 2024-006,1 requires BSFIs to display the list of acceptable valid IDs in conspicuous places within their premises—on counters and the public entrance of their establishments—as well as on their official websites, social media pages, and other consumer information channels and promotional materials.
BSFIs are also instructed to disseminate the memorandum to all personnel and branches concerned. It is part of the ongoing program to ensure the effective implementation of the Philippine Identification System (PhilSys).
Republic Act 11055 or the PhilSys Act and its Revised Implementing Rules and Regulations provide that an individual’s record in the PhilSys shall be considered as an official and sufficient proof of identity. The PhilID serves as the official government-issued identification document for transactions with all national government agencies, local government units, government-owned or -controlled corporations, government financial institutions, state universities and colleges, and private sector entities.
As of February 23, 2024, a total of 48.415 million PhilIDs have already been delivered to registered persons across the country.
In addition, a total of 45.44 million ePhilIDs have already been issued, which can be presented as valid ID in transactions just like the PhilID.