Regulatory Alerts2024-02-15
Prioritization of the Philippine Identification (PhilID) and Other Recognized Formats in the List of Acceptable Identification Documents (ID)
The Bangko Sentral ng Pilipinas directs all BSP-supervised financial institutions to prioritize the acceptance of the Philippine Identification (PhilID) and its recognized formats as valid proof of identity. Institutions must place the PhilID at the top of their lists of acceptable identification documents displayed in conspicuous places and on consumer information channels. Additionally, BSFIs are required to extensively disseminate this directive to personnel and utilize the PhilSys Check tool to verify the authenticity of presented IDs.
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