TWENTIETH CONGRESS OF THE ] 
REPUBLIC OF THE PHILIPPINES ] 
First Regular Session 
]
SENATE
S.B. No. IIJ-I
tDfarr of t;!P S :ref(*r-
25 AUG-7 P2S9
RECEIVED GV,
Introduced by SEN. WIN GATCHALIAN
AN ACT
MANDATING THE LAND BANK OF THE PHILIPPINES AND THE 
DEVELOPMENT BANK OF THE PHILIPPINES 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, marking a 27-percentage point increase 
in the share of Filipino adults with formal financial accounts from 29% in 2019 to 56% 
in 2021, an estimated 34.3 million Filipino adults remain without access to formal 
financial accounts per the Bangko Sentral ng Pilipinas (BSP)'s 2021 Financial Inclusion 
Survey.1 Notwithstanding significant improvements in financial inclusivity in the 
country, formal account ownership in the Philippines still pales in comparison with 
other ASEAN countries, such as Singapore at 98%, Thailand at 96%, and Malaysia at 
88%.2
1 Bangko Sentral ng Pilipinas, 2021 Financial Inclusion Survey, BSP WEBSITE, at
https://www.bsp.qov.ph/Inciusive%20Finance/Financlal%20Inclusion%20ReDort5%20and%20Publications/2021/
2021FISToplineReport.pdf (last visited July 4, 2025).
2 Asli Demirguc-Kunt, Leora Klapper, Dorothe Singer, and Saniya Ansar, The GlobalFindex Database (2021), 
WORLD BANK, at https://www.worldbank.ora/en/publication/alobalfindex/Report (last visited July 5, 2025).
1


According to the latest financial inclusion data from the BSP, oniy 56% 
respondents with ages 15 years old and above have a formal financial account, which 
includes bank, e-money, cooperative and microfinance institution accounts, with 
merely 23% having bank accounts. The same survey shows that 45% of unbanked 
Filipinos fear inadequate baiances, 40% lack documentary requirements, and 15% 
lack trust in financial institutions.3
The enactment of Republic Act No. 11055 or the "Philippine Identification 
System Act" in 2018 has significantly contributed in the improvement in financial 
inclusivity in the country in recent years. In fact, the Philippine Identification System 
(PhilSys)'s colocation efforts with the Land Bank of the Philippines (LandBank) have 
been cited by the BSP in the 170-percent increase in the number of Basic Deposit 
Accounts (BDAs) opened in the first quarter of 2023, translating to an increase from 
8.1 million BDAs in Q1 2022 to 21.9 miilion BDAs in Q1 2023.4
In order to take advantage of this momentum and further expand financial 
inclusion in the Philippines, especially among economically disadvantaged Filipinos, 
this proposed measure mandates the LandBank and the Development Bank of the 
Philippines (DBP) to open and maintain a bank account for every unbanked Filipino, 
free from any opening and maintaining balance, as well as other maintenance fees 
and charges. The bank accounts so created will be used for the efficient, transparent, 
and targeted 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 sought.
3 Supra note 1.
4 Philippine Statistics Authority, PSA encourages Filipinos to use their PhiilDs, ePhiilDs for financial transactions, 
PSA, at
https://psa.qov.ph/svstem/files/philsvs/Press%20Release%20re%20PSA%20encouraqes%20FiliPinos%20tQ%20
Use%20their%20PhilIDs%2C%20ePhilIDs%20for%20financial%20transactions_SIGNED_0.pdf#:~:text=(BSP)%
20in%20the%20170%20percent%20increase%20in,million%20on%20the%20same%20period%20in.%202022.
(last visited July 5, 2025).


TWENTIETH CONGRESS OF THE ] 
REPUBLIC OF THE PHILIPPINES ] 
First Regular Session 
]
SENATE 
S.B. No.
25 AUG -7 P2 59 
\
RrCEIVtD BV;
Introduced by SEN. WIN GATCHALIAN
AN ACT
MANDATING THE LAND BANK OF THE PHILIPPINES AND THE 
DEVELOPMENT BANK OF THE PHILIPPINES 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 expand financial inclusion in the Philippines, and to promote seamless, efficient,
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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 ordinary Filipinos to secure funding
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for future enterprises. 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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maintaining balance, as well as other 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 for every Filipino citizen, upon
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application, free from any opening and maintaining balance, as well as other
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maintenance fees or charges, through which the government's public and social
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services may be seamlessly and transparently delivered; Provided, That the LandBank
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and the DBP shall jointly create and manage a unified database of the bank accounts
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created pursuant to this Act: Provided, further, That only one account may be opened
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for each Filipino in accordance with this Act: Provided, finaiiy, That the PhilSys shall
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be linked by the LandBank, the DBP, and the Philippine Statistics Authority (PSA) with
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the bank account so created and maintained under this Act. The creation of such
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unified database and linkage of the opened bank accounts shall be in accordance with
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Republic Act (RA) No. 10173 or the "Data Privacy Act of 2012" and RA No. 1405 or
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the "Law on the Secrecy of Bank Deposits".
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The LandBank and the DBP shall open and maintain a bank account for Filipino
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citizens who have successfully registered with the PhilSys, at the option of such
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registered Filipinos, upon presentation of the PhillD or ePhillD issued pursuant to RA
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No. 11055, without need to present or submit any additional requirements: Provided,
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That any Filipino citizen who has not yet registered with PhilSys may proceed to the
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nearest LandBank or DBP branch to secure a bank account by presenting other proper
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and acceptable identification issued by the government, or such other document as
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may be allowed under the implementing rules and regulations of this Act: Provided,
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further. That the LandBank and the DBP shall assist in the PhilSys registration of
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applicants as needed, and the bank account shall be automatically linked with the
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PhilSys upon successful registration.
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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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with the consent of their parents, legal guardians or persons exercising substitute
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parental authority, as the case may be, subject to such other requirements as may


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be provided under the implementing rules and regulations of this Act, and relevant 
issuances of the Bangko Sentral ng Pilipinas (BSP).
The LandBank and the DBP, in coordination with the BSP, the PSA, the 
Department of Economy, Planning and Development (DEPDev), the Department of 
Social Welfare and Development (DSWD), and other relevant government agencies 
and local government units, shall immediately formulate a mechanism to implement 
the objectives of this Act, and to establish a seamless 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 
the LandBank, the DBP, and the PSA. Thereafter, the amounts necessary for its 
continued implementation shall be included in the annual General Appropriations Act.
SEC. 6. Implementing Rules and Regulations. — 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 DEPDev, shall jointly promulgate the necessary rules and 
regulations for the effective implementation of this Act: Provided, That the 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.


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SEC. 9. Effectivity. — This Act shall take effect immediately upon its
2 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,