The Bangko Sentral ng Pilipinas (BSP) has again ordered banks and other BSP-supervised financial institutions (BSFIs) to place the Philippine identification card (PhilID) at the top of the list of acceptable valid IDs as it is the official government-issued ID.

In a statement, the BSP said all BSFIs must adopt enhanced measures to ensure the broad acceptance of the PhilID, whether the physical card or the ePhilID, as a valid and sufficient proof of identity and age in all financial transactions, subject to authentication.

BSFIs 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, 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.

Further, BSFIs are instructed to extensively disseminate said Memorandum to all personnel and branches concerned.

The BSP’s memorandum is part of the ongoing program to ensure the effective implementation of the Philippine Identification System (PhilSys).

Republic Act No. 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.

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.
BSP Deputy Governor Chuchi G. Fonacier said last month that, the PhilID as the national ID should be the first one to be presented as identification when dealing with all national government agencies, local government units, government-owned or controlled corporations, government financial institutions, and all private sector entities.

Besides a priority ID, the PhilID is a sufficient proof of identity in lieu of a birth certificate to apply for marriage licenses; Land Transportation Office student permits and conductor’s licenses; enrollment for kindergarten, first grade, and Philippine Educational Placement Test passers; as well as Professional Regulation Commission and Bar Licensure Examinations.

Last year, the BSP even encouraged BSFI customers to report to the BSP if any of the banks or non-banks they transact with will not accept PhilID.  
Since 2021, the BSP has instructed all banks and non-banks to accept the national ID as sufficient proof of identity to open a bank account.

The BSP has previously received random reports of banks refusing to accept the PhilID to validate a depositor’s identity because the card itself does not display the person’s signature.

The BSP refers these banks or non-banks that do not accept the national ID to its Financial System Integrity Department (FSID), formerly known as the Anti-Money Laundering Specialist Group, for investigation.