Senator asks BSP to remind banks to accept national ID for transactions

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Senator asks BSP to remind banks to accept national ID for transactions
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Senator Sherwin Gatchalian on Saturday called on the Bangko Sentral ng Pilipinas to remind banks to accept the national ID as sufficient proof of identity as provided under the Philippine Identification System Act.

The senator made the call following complaints that some banks disallow the use of the national ID in transactions because there is no owner’s signature on the card.

Under the law, banks that will refuse to recognize the national ID as a valid proof of identity must be fined ₱500,000, he added. Gatchalian also noted that the memo allows both offline and online authentication of the ID owner's identity. "There shouldn't be a need for another valid ID if the individual concerned only has the national ID," Gatchalian said.

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