LGUs support opening of bank accounts in more than 300 PhilSys registration centers

February 10, 2022 0 Comments

Reference No. 2022-68

Local government leaders voiced their support for the opening of bank accounts among National ID or Philippine Identification System (PhilSys) registrants from vulnerable sectors. These local officials attended a series of webinars last 26 and 27 January 2022 on the implementation of the national ID program and co-location of Land Bank of the Philippines (LANDBANK) in more than 300 PhilSys registration sites all over the Philippines.

The event was organized by the Philippine Statistics Authority (PSA), in collaboration with LANDBANK, Department of the Interior and Local Government (DILG), and Bangko Sentral ng Pilipinas (BSP). Local Government Unit (LGU) officials and other PhilSys stakeholders from all over the country discussed initiatives to accelerate financial inclusion in grassroots communities.

“One of the objectives of PhilSys is to strengthen financial inclusion in the country. As a foundational ID system, PhilSys intends to contribute to increasing financial inclusion by being the intervention in the lack of valid proof of identity experienced by many Filipinos,” said PSA Undersecretary and National Statistician and Civil Registrar General Dennis S. Mapa, Ph.D. “The co-location strategy with LANDBANK is intended to enable unbanked registrants to open bank accounts on site after completing their Step 2 Registration. This effort leads to Filipinos being less vulnerable to informal lending practices that charge onerous interest rates.
BSP officials also briefed LGU officials and representatives on the importance of financial inclusion.

Financial inclusion does not end by simply having a transaction account. It means Filipinos, especially the poor and the vulnerable sector, are able to use a broad range of financial services that are appropriately designed for their needs and capabilities,” said BSP’s Director for Financial Inclusion Ellen Joyce L. Suficiencia. “It also means that account owners are able to achieve financial goals; increase in productivity for businesses that lead to job creation and inclusive economic growth; and access to financial resilience-building tools amid the COVID-19 pandemic and climate change.

Meanwhile, personnel from LANDBANK discussed how having constituents with transaction accounts can help LGUs provide efficient and more secure delivery of financial assistance to beneficiaries.

Sa pamamagitan ng transaction accounts na maaaring buksan ng libre sa mga registration centers, mas mura at mapapadali ang pamimigay ng cash assistance sa mga benepisyaryo,” said Kath Neo, a Marketing Specialist for LANDBANK. “Makasisiguro rin ang pamahalaan na gagamitin ang pera kung saan ito inilaan sa pamamagitan ng closed loop cards. Maaari na ring makatanggap ng online payments mula sa mga LANDBANK cardholders ang mga LGUs para sa mga serbisyo tulad ng business permits.

Moreover, Neo also reiterated that the said transaction accounts opened at registration centers do not contain any ayuda or amount.

In line with promoting PhilSys co-location, the event also focused on strengthening the partnership with DILG in implementing PhilSys registration in cities and municipalities. PSA foresees onboarded LGU officials to educate, encourage, and mobilize unbanked residents to open a LANDBANK account in registration sites.

Kami po sa DILG, we are one with the PSA in this activity. We have been there from the very beginning, and we will not leave this project until the very end㇐until 110 million Filipinos will have their own PhilID or national ID,” said DILG Undersecretary Jonathan E. Malaya.

The pledge of commitment, led by Undersecretary Marlo Iringan and Assistant Director for the Bureau of Local Government Development Alfonso Maralli of the DILG, enjoined LGUs in the further implementation of the co-location strategy in their localities and was witnessed by more than a thousand participants via Zoom and Facebook livestream from the official PhillSys and its partner agencies’ Facebook pages.

Among the 1,443 registration centers in cities and municipalities across the country, 303 sites are co-located with LANDBANK: 181 in Luzon, 18 in the Visayas, and 104 in Mindanao.

For the latest on PhilSys, visit the official PhilSys website (www.philsys.gov.ph) or Facebook page (www.facebook.com/PSAPhilSysOfficial/). You may also reach the PhilSys Registry Office via hotline number 1388 or e-mail at info@philsys.gov.ph. For the online Step 1 Registration, kindly go to register.philsys.gov.ph.

-PhilSys Registry Office