NINETEENTH CONGRESS OF THE ] 
REPUBLIC OF THE PHILIPPINES ] 
First Regular Session 
]
■ -i g?f narf' 
of rtit
72 JUL25 AlO-47
SENATE
S.B. No. 808
RSCBVlDisV.
Introduced by SEN. WIN GATCHALIAN
AN ACT
MANDATING GOVERNMENT FINANCIAL INSTITUTIONS TO CREATE A 
BANK ACCOUNT FOR EVERY UNBANKED FILIPINO,
AND FOR OTHER PURPOSES
EXPLANATORY NOTE
Despite the boom of digital payment solutions during the pandemic and the 
government's initiatives for financial inclusion, an estimated 36.9 million Filipino adults 
remain to be unbanked.1 This means that around 48% of the Filipino population still 
do not have a bank account.
The BSP's latest Financial Inclusion Survey in 2019 show that only 28.6% of the 
respondents with ages 15 years old and above have a formal account, which includes 
bank, e-money, cooperative and microfinance institution accounts, and only 12.2% of 
these respondents have bank accounts. The same survey shows that 71% find 
difficulty in opening an account due to documentary requirements while 58% do not 
have the requirements for their loan applications in a formal financial institution.
1BSP Report on Financial Inclusion in the Philippines Dashboard as of Fourth Quarter of 2020
(https://www.bsp.gov.ph/Media_And_Research/Finandal%20Inclusion%20Dashboard/2020/FIDashbo
ard_4Q2020.pdf)
1


While the Philippine National ID aims to address an individual's lack of 
documentary requirements for opening a bank account, the government still needs to 
facilitate and strengthen the financial inclusion landscape in the country by facilitating 
the opening and maintaining of bank accounts that may be used for the delivery of 
the government's public and social services.
Accordingly, this bill seeks to mandate its leading government financial 
institutions, particularly the LandBank and the Development Bank of the Philippines, 
to open and maintain a bank account for all Filipinos, free from opening and 
maintenance fees and charges, beginning January 1, 2023. The bank accounts so 
created will be used for the delivery of the government's public and social services, 
and will be linked with the Philippine Identification System.
In view of the foregoing, passage of this bill is earnestly sougfttr
IN GATCHA^


NINETEENTH CONGRESS OF THE ] 
REPUBLIC OF THE PHILIPPINES ] 
First Regular Session 
]
S.B. No.
SENATE
808
*22 JUL25 A10:47
RECEiVED BV:
Introduced by SEN. WIN GATCHALIAN
AN ACT
MANDATING GOVERNMENT FINANCIAL INSTITUTIONS TO CREATE A 
BANK ACCOUNT FOR EVERY UNBANKED FILIPINO,
AND FOR OTHER PURPOSES
Be it enacted by the Senate and the House of Representatives of the Philippines in 
Congress assembled:
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SECTION 1. Title. — This Act shall be known as the "One Filipino, One Bank
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Account Act".
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SEC. 2. Declaration of Policy, — It is hereby declared the policy of the State
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to strengthen the financial inclusion landscape in the Philippines, and to promote
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seamless, efficient, transparent and targeted delivery of public and social services.
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Towards this end, the Land Bank of the Philippines (LandBank) and the
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Development Bank of the Philippines (DBP) shall empower every unbanked Filipino to
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have access to financial services that will allow efficient, transparent and targeted
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delivery of public and social services and enable an ordinary Filipino to secure funding
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for his future enterprise. Thus, the LandBank and the DBP shall be mandated to create
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and maintain a bank account for every unbanked Filipino free from any opening and
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maintenance fees or charges.


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SEC. 3. Scope and Coverage. — This Act shall apply to all Filipino citizens
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who are covered by the Philippine Identification System (PhilSys) under Republic Act
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(RA) No. 11055, otherwise known as the "Philippine Identification System Act".
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SEC. 4. Creation of Bank Accounts. — The LandBank and the DBP are
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mandated to open and maintain a bank account, beginning January 1, 2023, for every
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Filipino citizen, free from any opening and maintenance fees or charges, through
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which the government's public and social services may be seamlessly and
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transparently delivered: Provided that, the LandBank and the DBP shall jointly create
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and manage a unified database of the bank accounts so created pursuant to this Act:
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Provided further, that, the PhilSys shall be linked by the LandBank, the DBP and the
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Philippine Statistics Authority (PSA) with the bank account so created and maintained
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under this Act. For this purpose, the linkage of the PhilSys with the bank accounts so
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created under this Act shall be exempt from the provisions of RA 1405, otherwise
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known as the "Bank Secrecy Law".
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The LandBank and the DBP shall automatically open and maintain a bank
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account for Filipino citizens who have successfully registered with the PhilSys upon
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presentation of the PhillD issued pursuant to RA 11055: Provided, further that, any
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Filipino citizen who has not yet registered with PhilSys by January 1, 2023 may
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proceed to the nearest LandBank or DBP branch to secure a bank account by
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presenting other proper and acceptable identification issued by the government:
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Provided, further that, said bank account shall be automatically linked with the PhilSys
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upon successful registration of the Filipino citizen, without need of his consent.
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The bank accounts for Filipino citizens below the age of majority or who are
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incapacitated to give consent under Article 1327 of the New Civil Code shall be opened
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and linked with the accounts of their parents, legal guardians or persons exercising
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substitute parental authority, as the case may be.
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The LandBank and the DBP, in coordination with the Bangko Sentral ng
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Pilipinas (BSP), the PSA, the National Economic Development Authority (NEDA), the
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Department of Social Welfare and Development (DSWD), and other pertinent
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government agencies and local government units, shall immediately formulate a
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mechanism to implement the objectives of this Act, and to establish a seamless


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transition wherein these bank accounts shall be used for the delivery of the 
government's public and social services.
SEC. 5. Appropriations, — The amount needed for the initial 
implementation of this Act shall be taken from the current year's appropriations of 
LandBank, DBP and PSA. Thereafter, the amounts as may be necessary for its 
continued implementation shall be included in the annual General Appropriations Act.
SEC. 6. Implementing Ruies and Reguiations. — Within sixty (60) days 
from the effectivity of this Act, the LandBank and the DBP, together with the BSP, the 
DSWD, the PSA, and the NEDA, shall jointly promulgate the necessary rules and 
regulations for the effective implementation of this Act: Provided That\he. LandBank 
and the DBP may call upon any agency to provide information or assistance in the 
drafting of the rules and regulations.
The non-promulgation of the implementing rules and regulations shall not 
prevent the implementation of this Act upon effectivity.
SEC. 7. Separability Clause, - If any provision of this Act or part thereof be 
declared unconstitutional or invalid, all other provisions or parts not affected thereby 
shall remain valid and effective.
SEC. 8. Repealing Clause, — All laws, decrees, executive orders, rules and 
regulations or parts thereof, which are inconsistent with this Act, are hereby repealed, 
amended or modified accordingly.
SEC. 9. Effectivity, — This Act shall take effect immediately upon its 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,