Bakit maghahanap pa ng ibang ID? Senator warns of P500K fine for banks rejecting national ID

A lawmaker reminded banks to accept the national ID for validation of clients’ transactions if they don’t want to pay half a million pesos in fines.

Senator Win Gatchalian said refusing the national ID is prohibited under Republic Act 11055 or the Philippine Identification System Act.

“The national ID system is meant to simplify public and private transactions. The BSP should immediately look into this issue and ensure that all financial institutions, especially Landbank and Development Bank of the Philippines, adhere to the law,” he said in a statement.

“There shouldn’t be a need for another valid ID if the individual concerned only has the national ID,” the senator added.

RA 11055 penalizes institutions that do not acknowledge the PhilID as a legitimate