Banks told: Rejecting national IDs is illegal
MANILA — A lawmaker called on the Bangko Sentral ng Pilipinas (BSP) to remind banks of the law compeling them to accept national IDs for financial transactions — with violators risking a fine worth P500,000.
Sen. Sherwin Gatchalian on Saturday made the call amid reports that several banks still refuse to recognize the national ID as a proof of identity since the card doesn’t display the owner’s signature.
“This is not the intention of the law. The national ID system is meant to simplify public and private transactions,” Gatchalian said in a statement Saturday.
“The BSP should immediately look into this issue and ensure that all financial institutions, especially Landbank and Development Bank of the Philippines, adhere to the law.”
BSP’s memorandum no. M-2021-057 earlier stated the Philippine Statistics Authority has already clarified that the non-inclusion of a handwritten signature as part of the Philippine identification (PhilID) was “deliberate,” and that it aligns with other national ID systems such as in India, Singapore, Malaysia, Thailand, Vietnam, among others.
The PhilID intends to promote “greater security” in transactions through stronger methods of verification and lower risk of forgery.
Gatchalian also pointed out the memo stating that the Philippine Identification
System (PhilSys) allows both offline and online means of authentication in accordance with Section 5 of Republic Act 11055 and Section 12 of its Revised Implementing Rules and Regulations.
Included in the methods of authentication are PhilID physical security features, QR code digital verification, biometric verification and SMS one-time password.
“There shouldn’t be a need for another valid ID if the individual concerned only has the national ID,” the senator said.
Banks normally require two or more IDs and other supporting documents when opening a bank account. However, some bank transactions are being declined especially those from the low-income sector who only have one valid ID.
Gatchalian likewise called on the public to report banks who continue to refuse national IDs in their transactions to the BSP. —