Valid Identification Cards for Financial Transactions

Corrected Copy

Bangko Sentral ng PiliPinas

OFFICE OF THE GOVERNOR

CIRCULAR NO. 792 Series of 2013

Subject: Valid Identification Cards for Financial Transactions

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. Number 1 of Subsec. X806.2.c of the MORB on valid identification cards for financial transactions shall read as follows:

(1) Customers and the authorized signatory/ies of a corporate or juridical entity 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 ID document issued by an official authority.

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

(a) Government of the Republic of the Philippines;

(b) Its political subdivisions and instrumentalities;

(c) Government-owned and/or controlled corporations (GOCCs); and

(d) Private entities or institutions registered with or supervised or

regulated either by the BSP, SEC or IC.

Valid IDs include the following:

XXXX XXX XX

18. ID issued by the National Council on Disability Affairs (NCDA);

19. DSWD certification;

20. IBP ID;

A. Mabini St., Malate 1004 Manila, Philippines * (632) 708-7701 * www.bsp.gov.ph * [email protected]

21. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the

BSP, SEC or IC; and

22. PhilHealth Health Insurance Card ng Bayan.

Section 2. Number 1 of Subsec. 4806Q.2.c of the MORNBFI, on valid identification cards for financial transactions shall read as follows:

(1) Customers and the authorized signatory/ies of a corporate or juridical entity 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 ID document issued by an official authority.

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

(a) Government of the Republic of the Philippines;

(b) Its political subdivisions and instrumentalities;

(c) Government-owned and/or controlled corporations (GOCCs); and

(d) Private entities or institutions registered with or supervised. or

regulated either by the BSP, SEC or IC.

Valid IDs include the following:

XXXX XX XXX

18. ID issued by the National Council on Disability Affairs (NCDA);

19. DSWD certification;

20. IBPID;

21. Company IDs issued by private entities or institutions

registered with or supervised or regulated either by the BSP, SEC or IC; and

22. PhitHealth Health Insurance Card ng Bayan.

Page 2 of 3

MORNBFI, on valid identification cards for financial transactions shall read as follows: Section 3. Section 4695S (Non-Stock Savings and Loan Associations) of the

Section 4695S. Valid Identification Cards for Financial Transactions. The provisions of Part 8 of the Q Regulations on valid identification documents shall apply.

MORNBFI, on valid identification cards for financial transactions shall read as follows: Section 4. Section 4695N (Other Non-Bank Financial institutions) of the

Section 4695N. Valid Identification Cards for Financial Transactions. The provisions of Part 8 of Q Regulations on valid identification documents shall apply to all types of financial transactions by NBFIs, including financial transactions involving OFWs

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:

UAN D. DE ZUNIGA MMA

Officer-In-Charge

May 2013

Page 3 of 3