List of IDs needed to open a Philippine savings bank account

August 13, 2008

Stocks, Mutual Funds, Forex, Finance Philippines

Make Money Online, Stocks, Mutual Funds, Philippines

If before you don’t want to open a bank deposit account because you might not have the two (2) valid IDs required, you now have a reason to open one because the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) recently compelled banks to ask for only one (1) identification card for banking transactions.

Effective as early as June 2008, the BSP circular relaxes the bank’s requirement on IDs and also expanded the list of IDs a bank client can use.

The move is meant to “promote access of Filipinos to services offered by formal financial institutions,” as well as to “encourage and facilitate remittances of OFWs through the banking system.”

For first-time bank clients, the following IDs may be presented:

Passport
Driver’s License
Professional Regulation Commission (PRC) ID
National Bureau of Investigation (NBI) Clearance
Police Clearance
Postal ID
Voter’s ID
Barangay Certification
Government Service Insurance System (GSIS) e-Card
Social Security System (SSS) Card
Senior Citizen Card
Overseas Workers Welfare Administration (OWWA) ID
OFW ID
Seaman’s Book
Alien Certificate of Registration / Immigrant Certificate of Registration
Government Office and GOCC ID / Armed Forces of the Philippines (AFP) ID / Home Development Mutual Fund (HDMF) ID
Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
Department of Social Welfare and Development (DSWD) Certification
Integrated Bar of the Philippines ID
Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC, or Insurance Commission

Students who are beneficiaries of remittances who are not yet of voting age can still open an account by presenting the original and submitting a clear copy of one valid photo-bearing school ID duly signed by the principal or head of school.

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Written by James | PinoyMoneyTalk.com · Filed Under Banking and Insurance

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Aya

Valid ID naman pala ang postal ID bat after ko magwait ng more than an hour sa metrobank los banos hindi prinocess yung application ko na magopen ng deposit account dahil di daw valid id ang postal id. She should have said so when I asked her about the requirements. Bastos pa nung naghahandle ng new accounts nila.