2.04.2016

Valid IDs for Opening a Bank Account

By Nora

Banks should comply with the BSP regulations on Valid IDs for opening a bank account.

Financial inclusion is being preached all around -- giving chances to the unbanked -- so banks should give chances to the unbanked.

Banks should give chances to those who do not have yet the more-difficult-to-get IDs like SSS, PRC license cards, driver's license cards and passports.

Here is a List of Valid IDs for financial transactions,
as listed by the BSP in the 2014 edition of its Manual of Regulations for Banks (MORB), signed November 5, 2015. (See X806.2.c Valid identification documents on page)

1. Passport
     (issued by the Philippine government or foreign governments)
2. Driver’s license
3. PRC ID
4. SSS ID
5. GSIS e-Card
6. Voter's ID
7. Senior Citizen ID
8. OWWA ID
9. OFW ID
10. Seaman’s book
11. Company ID issued by a private entity or institution registered
       with or supervised or regulated by the BSP, SEC or IC
12. Alien Certificate of Registration or Immigrant Certificate of Registration
13. ID issued by a government office or a government-owned and/or
        controlled corporation, like the AFP and HDMF
14. IBP ID
15. ID issued by the National Council on Disability Affairs
16. Postal ID
17. NBI Clearance
18. DSWD Certification
19. TIN Card
20. PhilHealth or Health Insurance Card ng Bayan
21. Police Clearance
22. Barangay Certification
23. For students who are remittance beneficiaries or fund transfers and
      who are not yet of voting age:  original and clear copy of one valid
      photo-bearing School ID signed by the principal or head of the school.
24. For non-Philippine residents: IDs issued by their own governments or
        countries where they are residents or citizens

How many valid photo-bearing IDs are required?
One valid photo-bearing ID. At least one.

This means when you are presenting an identification document not bearing your photo, like barangay certificate or police clearance, present another ID bearing your photo.

Official Authorities That Can Issue Valid IDs:

1. Government of the Republic of the Philippines
2. Political subdivisions and instrumentalities of the Philippine government
2. Government-owned and/or controlled corporations (GOCCs)
3. Private entities or institutions registered with or supervised or regulated by the BSP, SEC or IC

Requirements to be presented at the start of financial relationship:
1.  Valid photo-bearing ID
2.  Clear copy of valid ID
3.  Updated photo
4.  Other relevant material information

Can Financial Institutions Accept Other IDs not in the list?
Yes, but another valid supporting document or identification is required.
 (Reference: X806.2.c (6) of the MORB)

What Personal Information should be presented at the time of account opening or start of financial relationship:

1.  Name
2.  Present address
3.  Date and place of birth
4.  Nature of work, name of employer
       or nature of self-employment/business
5.  Contact details
6.  Specimen signature
7.  Source of funds
8.  Permanent address
9.  Nationality
10.Tax identification number (TIN), SSS number or GSIS number, if any
11.  If applicable: name, present address, date and
         place of birth, nature of work and source of
         funds of beneficial owner or beneficiary

Option when the valid ID does not bear a photo, or when the photo on the Is is not clear:
The financial institution can take a photo of the customer.
 (Reference: X806.2.c (6) of the MORB)

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