EIGHTEENTH CONGRESS OF THE ] 
REPUBLIC OF THE PHILIPPINES ] 
Second Regular Session 
]
SENATE
S.B. No. 2251
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BY
INDCX.
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 financiai inclusion, some 51.2 million Filipinos remain 
unbanked.1 This means that around 47% of the Fiiipino population still do not have a 
bank account.
According to BSP's 2019 Financial Inclusion Survey, 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 oniy 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.
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
https;//pearlpay.com/why-filipinos-remain-unbanked/ (Feb. 1, 2021)


facilitate and strengthen the financial inclusion landscape In the country by facilitating 
the opening and maintaining of bank accounts that rnay 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 sought.
GATCHALIAN


EIGHTEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
Second Regular Session 
)
SENATE
S. B. No. 2251
,<5-
[lU nATc?June1.2021 
itf> 
10:50 am
SY
INDEX^
Introduced by SEN. WIN GATCHALIAN
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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 Phiiippines in 
Congress assembied:
Section 1. r/f/e,—This Act shall be known as the "One Rlipino, 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 wiil 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 Rlipino free from any opening and 
maintenance fees or charges.


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Sec. 3. Scope and Coverage, — This Act shall apply to all Filipino citizens who
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are covened by the Philippine Identification System (PhilSys) under Republic Act (RA)
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11055, otnerwise 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 which
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the government's public and social services may be seamlessly and transparently
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delivered: Provided that, the LandBank and the DBP shall jointly create and manage a
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unified database of the bank accounts so created pursuant to this Act: Provided further,
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that, the :,hilSys shall be linked by the LandBank, the DBP and the Philippine Statistics
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Authority (PSA) with the bank account so created and maintained under this Act. For this
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purpose, the linkage of the PhilSys with the bank accounts so created under this Act shall
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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
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for Rlipino citizens who have successfully registered with the PhilSys upon presentation
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of the PhiKD issued pursuant to RA 11055: Provided, further that, any Filipino citizen who
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has not yet registered with PhilSys by January 1, 2023 may proceed to the nearest
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LandBank or DBP branch to secure a bank account by presenting other proper and
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acceptable Identification issued by the government: Provided, further that, said bank
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account shall be automatically linked with the PhilSys upon successful registration of the
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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 Pilipinas
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(BSP), the PSA, the National Economic Development Authority (NEDA), the Department
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of Social Welfare and Development (DSWD), and other pertinent government agencies
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and local government units, shall immediately formulate a mechanism to implement the
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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 Ciause. - 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. Repeating Ciause. — 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.