The country’s central monetary authority, the Bangko Sentral ng Pilipinas (BSP), has formally announced that it will be accepting the Improved Postal ID (PID) as a valid form of identification when facilitating all types of financial transaction, including opening of an account.
Signed by BSP Deputy Governor Nestor A. Espenilla, Jr., the Circular Letter No. CL-2016-062 informs all BSP-supervised financial institutions that the Improved PID is now accepted as a valid government-issued identification document. The said circular letter was issued on July 26, 2016.
Launched by the Philippine Postal Corporation on May 16, 2016, the Improved Postal ID is the newest and most secure identification card today. It is infused with much improved physical and biometrics-based security features such as the QR Code, which could be scanned using a downloadable PHLPost application, and the Automated Fingerprint Identification System (AFIS), which compares the applicant’s fingerprints to the fingerprint database records to ensure his authenticity and uniqueness.###