National ID or PhilSys ID Valid, Sufficient Proof of Identity – BSP

Central Bank Speaks on National ID or PhilSys ID

NATIONAL ID – Bangko Sentral ng Pilipinas (BSP) said that the Philippine Identification System (PhilSys) ID is valid and sufficient proof of identity.

Under the current administration, one of those pushed is the national ID for the Filipinos to boost the accessibility of the people for private and public services. It aimed for more secure and faster transactions for the people. Undeniably, it faced a lot of questions before the program rolled in.

Earlier this year, the wider manual registration for the Philippine Identification System (PhilSys) ID started. The government also opened online registration for it which started in April. Many Filipinos have already received their ID while others await its delivery.

However, amid the release of the Philippine National ID or PhilSys ID, there are claims that some institutions most especially private entities don’t accept it as sufficient proof of identity.

Based on a report on ABS-CBN News, the Philippine Statistics Authority (PSA) has previously released a memorandum reminding all government and private companies to accept the National ID as “sufficient proof of identity”.

Bangko Sentral ng Pilipinas (BSP) joined the call of PSA in telling the public and private companies to accept the National ID as a sufficient proof of identity saying it’s valid. According to BSP Governor Benjamin E. Diokno, PhilSys will be beneficial to a lot of Filipinos most especially the low-income individuals and the marginalized sector. Through it, they can now open bank accounts for their saving deposits.

Diokno further said that the PhilSys ID will increase the growth in the Basic Deposit Account in the country. In its statement, the Central Bank said that there is more security in using the PhilSys ID than the manual matching of a handwritten signature.

According to the report, both online and offline methods of identity authentication will be provided by the PhilSys system. There will be the use of QR code digital verification, SMS one-time password (OTP), and biometric verification.

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