• BSP relaxes ID requirements for typhoon struck areas

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    The Bangko Sentral ng Pilipinas (BSP) is set to relax the identification requirement of banks to their customers in the typhoon-struck areas.

    Nestor Espenilla Jr., BSP deputy governor for Supervision and Examination Sector, said over the weekend that the Monetary Board (MB) has approved an additional relief for typhoon-affected banks, particularly in the “know your customer” policy.

    “Remember, if you’re transacting, you need to produce an ID [identification card]. But we realized that IDs could have been lost [because of the impact brought by Super Typhoon Yolanda],” he said.

    Espenilla said that the MB approved the relaxation of ID requirements for a temporary period of time until end of the year, particularly in seven provinces including Leyte and Samar, which were severely affected by the typhoon.

    “Banks need to identify properly, but typhoon-affected clients don’t have to necessarily produce government ID. Any identification acceptable to the banks is okay,” he said, noting that the MB approved the additional relief on November 20 and should be issued by November 25.

    Espenilla also said that the whole purpose of the BSP regulatory relief measures is for banks to avail of regulatory relief, so that in turn they will also be more considerate of their clients who were affected by the typhoon especially those who have loans.

    Meanwhile, a BSP data showed that as of November 21, majority of banking offices and automated teller machine (ATM) units in the typhoon-affected areas excluding Tacloban City, have resumed their operations.

    The data said that of the 122 banking offices and 150 ATMs in Leyte province, 65 banking offices and 30 ATMs were now open. Of the 49 banking offices and 54 ATMs in Samar province, 37 banking offices and 33 ATMs resumed operations.

    The BSP data added that of the 489 banking offices and 762 ATMs in Cebu province, 487 banking offices and 732 ATMs were now open. Of the 45 banking offices and 52 ATMs in Aklan province, 43 banking offices and 24 ATMs resumed operations.

    It also showed that of the 52 banking offices and 39 ATMs in Capiz province, 51 banking offices and 32 ATMs were now open. Of the 54 banking offices and 81 ATMs in Palawan province, 54 banking offices and 75 ATMs resumed operations.

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