The country’s central monetary authority and a leading financial institution have given their votes of confidence to the newly upgraded postal ID.
The Bangko Sentral Ng Pilipinas (BSP) has informed Postmaster General and Philippine Postal Corporation (PHLPost) CEO Josefina de la Cruz that the bank will recognize the new postal ID as a supporting identification document in transacting business with BSP.
“BSP interposes no objection to the (postal ID) and will recognize it as a valid identification reference for those who will transact with the BSP,” said the letter dated
June 18 from the bank’s security, investigation and transport department. The BSP supervises banks and exercises regulatory powers over lending companies, remittance centers and other non-bank institutions performing quasi-banking functions.
Meanwhile, a leading financial services provider has also assured the public that it will honor the postal ID nationwide as a valid government-issued ID. RCBC Savings Bank, through its regional sales director for Metro Manila and Central Luzon, Pinnie del Rosario, said the bank “will inform our current and prospective clients that we are now accepting the postal ID as a primary form of identification. This will definitely facilitate transactions with RCBC Savings Bank not only in Metro Manila but especially in the provinces.”
Del Rosario acknowledged that “the new postal ID is now a PVC card with real card security features and technologies that make it a secure form of ID.” The RCBC official added that “Bangko Sentral ng Pilipinas has very strict and stringent guidelines and requirements with regards to having each client of the bank present valid and non-fraudulent proofs of identification.” RCBC Savings Bank is the consumer and retail banking arm of Rizal Commercial Banking Corporation, a member of the Yuchengco Group of Companies.
Early this year, PHLPost scrapped the old paper-based postal ID in response to the proliferation of fake IDs, which had eroded the confidence of institutions such as banks and government agencies. It replaced the old ID with a more durable plastic card enhanced with security features, including biometrics and an encrypted QR code. All Filipinos and resident foreigners, regardless of their age or qualifications, can apply for a new postal ID in any post office nationwide and in selected malls. The ID fee of P414.40 includes delivery to the applicant’s mailing address and a 12% value-added tax. For more information, visit facebook.com/newpostalid.