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‘One Filipino, One Bank Account’ Act should be in place by January 2023

Beginning January 1, 2023, all Filipinos who have registered in the national identification (ID) system will own a bank account that will have access to government’s financial services.


VALENZUELA CITY, Philippines – An employee uses his city hall ID card with built-in LandBank account to transact over an ATM, 22 June 2021. With Senator Win Gatchalian’s ‘One Filipino, One Bank Account’ Act, state-run LandBank and Development Bank of the Philippines shall open and maintain a bank account for Filipino citizens and integrate it with the national ID system to enable seamless and transparent disbursement of government assistance programs. Photo by Mark Cayabyab/OS WIN GATCHALIAN

This was the proposal laid down by Senator Win Gatchalian in filing Senate Bill No. 2251 or the “One Filipino, One Bank Account Act” as the measure is seeking to mandate the Land Bank of the Philippines (LandBank) and Development Bank of the Philippines (DBP) to open and maintain a bank account, free from any opening and maintenance fees or charges, for every Filipino citizen beginning January 1, 2023.

“Sa panukalang ‘One Filipino, One Bank Account Act’, lahat ng walang bank account ay siguradong magkakaroon na, basta may national ID. Hindi na nila kailangang pumila pa para makakuha ng ayuda mula sa gobyerno dahil ilalagak na lamang sa naturang bank account ang ayuda at iba pang tulong pinansyal ng ating pamahalaan,” Gatchalian said.

Under Gatchalian’s bill, the LandBank and DBP shall automatically open and maintain a bank account for Filipino citizens who have successfully registered with the Philippine Identification System (PhilSys) upon presentation of the national ID or PhilID. Those who have yet to register with PhilSys by Jan. 1, 2023, may proceed to the nearest LandBank or DBP branch to secure a bank account by presenting other proper and acceptable government-issued IDs. The bank account shall be automatically linked with the PhilSys upon successful registration of the Filipino citizen.

For minors or those who are incapacitated to give consent under Article 1327 of the New Civil Code, their bank accounts shall be opened and linked with the accounts of their parents, legal guardians or persons exercising substitute parental authority, as the case may be, Gatchalian said.

“Katulad ng sweldo ng mga empleyado na inilalagay sa ATM, ganito na rin ang mangyayari sa hinaharap sa pamimigay ng tulong pinansyal ng gobyerno kasama na ang mga allowance ng mga iskolars at iba pa. Mabilis, seamless at makakasiguro pa ang ating gobyerno na sa mga tamang kamay mapupunta ang mga tulong pinansyal,” the senator said.

Despite the boom of digital payment solutions during the pandemic, Gatchalian said 51.2 million Filipinos or 47% of the Filipino population remain unbanked.