April 2, 2013

BSP CIRCULAR NO. 792-13

 

Pursuant to Monetary Board Resolution No. 246 dated 7 February 2013, the provisions of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) on valid identification cards for financial transactions are hereby amended, as follows:

SECTION 1. Item "a", Subsec. X895 of the MORB on valid identification cards for financial transactions shall read as follows:

"a. Clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least one (1) valid photo-bearing identification document issued by an official authority.

"For this purpose, the term "official authority" shall refer to any of the following:

(1) Government of the Republic of the Philippines;

(2) its political subdivisions and instrumentalities;

(3) government-owned and/or controlled corporations (GOCCs); and

(4) Private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas (BSP) or Securities and Exchange Commission (SEC) or Insurance Commission (IC)."

"Valid IDs include the following:

"xxx xxx xxx

(q) ID issued by National Council on Disability Affairs (NCDA);

(r) DSWD certification;

(s) IBP ID;

(t) Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC;

(u) Passports issued by foreign governments; and

(v) PhilHealth Health Insurance Card ng Bayan.

SECTION 2. Item "a" of Sections 4695S (Non-Stock Savings and Loan Associations) and 4695Q (NBFIs with Quasi-Banking Functions) of the MORNBFI, on valid identification cards for financial transactions shall read as follows:

"a. Clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least one (1) valid photo-bearing identification document issued by an official authority.

"For this purpose, the term "official authority" shall refer to any of the following:

(1) Government of the Republic of the Philippines;

(2) its political subdivisions and instrumentalities;

(3) government-owned and/or controlled corporations (GOCCs); and

(4) Private entities or institutions registered with or supervise or regulated either by the Bangko Sentral ng Pilipinas (BSP) or Securities and Exchange Commission (SEC) or Insurance Commission (IC)."

"Valid IDs include the following:

"xxx xxx xxx

(q) ID issued by National Council on Disability Affairs (NCDA);

(r) DSWD certification;

(s) IBP ID;

(t) Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC;

(u) Passports issued by foreign governments; and

(v) PhilHealth Health Insurance Card ng Bayan.

This Circular shall take effect fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation.

FOR THE MONETARY BOARD:

(SGD.) JUAN D. DE ZUÑIGA, JR.Officer-in-ChargeBangko Sentral ng Pilipinas