Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. GUSTAVO S. TAMBUNTING 
AN ACT 
MANDATING GOVERNMENT FINANCIAL INSTITUTIONS TO CREATE A BANK 
ACCOUNT FOR EVERY UNBANKED FILIPINO, AND OTHER PURPOSES 
EXPLANATORY NOTE 
Purchasing and receiving goods and services during this pandemic is directly correlated to the 
availability of bank accounts and digital payment platforms that a Filipino or their city has. 
Transactions involving food items, utilities, and leisure shopping necessitate a certain bank 
account as a channel to cash in payment for procuring things. However, in BSP’s 2019 Financial 
Inclusion Survey, only 28.6% of the respondents have a formal account and the same survey 
also mentions that 71% had a hard time opening a bank account due to reportorial requirements 
hindering them in pursuit of opening an account or applying for a loan. Sadly, the majority of 
Filipinos lead their lives without having to experience retaining a simple savings account denying 
them the opportunities and benefits that a financial institution may offer. 
This bill seeks to require financial institutions such as LandBank and Development Bank of the 
Philippines to create a unified and uncomplicated bank account for all unbanked Filipinos, 
especially in those regions and areas where financial literacy and foundations are absent and 
lacking. This undertaking will greatly reach unserved Filipinos in terms of sending and transacting 
government services as this is connected with the Philippine Identification System. 
The Filipinos especially the youth need this bill to prepare and manage their personal and business 
finances leading to a bright and rewarding future impacting national economic growth. 
On behalf of the people of Parañaque City’s Second District, and for the common good of the 
Filipino people, the approval of the said measure is earnestly sought. 
REP. GUSTAVO S. TAMBUNTING 
2nd District, Parañaque City 
August 22, 2022
10:22 am
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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. GUSTAVO S. TAMBUNTING 
AN ACT  
MANDATING GOVERNMENT FINANCIAL INSTITUTIONS TO CREATE A BANK 
ACCOUNT FOR EVERY UNBANKED FILIPINO, AND OTHER PURPOSES 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled: 
SECTION 1. Short Title. – This Act shall be known as the “One Filipino, One Bank Account Act”. 
SEC. 2. Declaration of Policy. – It is hereby declared the policy of the State to strengthen the 
financial inclusion landscape in the Philippines, and to promote seamless, efficient, transparent, 
and targeted delivery of public and social services. 
Towards this end, the Land Bank of the Philippines (LandBank) and the Development Bank of the 
Philippines (DBP) shall empower every unbanked Filipino to have access to financial services that 
will allow efficient, transparent, and targeted delivery of public and social services and enable an 
ordinary Filipino to secure funding for his future enterprise. Thus, the LandBank and the DBP shall 
be · mandated to create and maintain a bank account for every unbanked Filipino free from any 
opening and maintenance fees or charges. 
SEC. 3. Scope and Coverage. – This Act shall apply to all Filipino citizens who are covered by 
the Philippine Identification System (PhilSys) under Republic Act (RA) 11055, otherwise known 
as the “Philippine Identification System Act”. 
SEC. 4. Creation of Bank Accounts. – The LandBank and the DBP are mandated to open and 
maintain a bank account, beginning January 1, 2023, for every Filipino citizen, free from any 
opening and maintenance fees or charges, through which the government's public and social 
services may be seamlessly and transparently delivered: Provided that, the LandBank and the 
DBP shall jointly create and manage a unified database of the bank accounts so created under 
this Act: Provided further, that, the PhilSys shall be linked by the LandBank, the DBP and the 
Philippine Statistics Authority (PSA) with the bank account so created and maintained under this 
Act. For this purpose, the linkage of the PhilSys with the bank accounts so created under this Act 
shall be exempt from the provisions of RA 1405, otherwise known as the “Bank Secrecy Law”. 
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The LandBank and the DBP shall automatically open and maintain a bank account for Filipino 
citizens who have successfully registered with the PhilSys upon presentation of the PhillD issued 
under RA 11055: Provided, further that, any Filipino citizen who has not yet registered with PhilSys 
by January 1, 2023, may proceed to the nearest LandBank or DBP branch to secure a bank 
account by presenting other proper and acceptable identification issued by the government: 
Provided, further that, said bank account shall be automatically linked with the PhilSys upon 
successful registration of the Filipino citizen, without the need of his consent.  
 
The bank accounts for Filipino citizens below the age of majority or who are incapacitated to give 
consent under Article 1327 of the New Civil Code shall be opened and linked with the accounts 
of their parents, legal guardians, or persons exercising substitute parental authority, as the case 
may be.  
 
The LandBank and the DBP, in coordination with the Bangko Sentral ng Pilipinas (BSP), the PSA, 
the National Economic Development Authority (NEDA), the Department of Social Welfare and 
Development (DSWD), and other pertinent 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 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 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 NEDA, 
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. 
 
SEC. 9. Effectivity. – This Act shall take effect immediately upon its publication In the Official 
Gazette or in a newspaper of general circulation. 
 
Approved,