BSP urges Philippine banks to remind clients of looming SIM card registration deadline

The Bangko Sentral ng Pilipinas (BSP) has issued a strong call to all supervised financial institutions (BSFIs) to remind their clients about the imminent deadline for SIM card registration, which is less than two months away.

Emphasizing the critical nature of this requirement, the BSP urges individuals to register their SIM numbers before the extended deadline of July 25, stressing the importance of smooth payment and financial transactions.

The BSP previously underscored the significance of SIM registration for BSFI clients, as it enables uninterrupted access to their accounts and helps mitigate potential disruptions in processes involving one-time passwords and transaction authorization.

Moreover, SIM registration enables clients to receive essential advisories, reminders, and transaction alerts that are integral to their banking activities.

In line with its commitment to supporting the digital transformation journey of the Philippines, the central bank deems adherence to Republic Act No. 11934, commonly referred to as “The SIM Registration Act,” as a crucial element.

To facilitate compliance, the registration period for SIM cards was extended by 90 days from the initial deadline of April 26.