Gatchalian on Sunday (April 18) proposed the creation of one bank account for each Filipinos so they can access government assistance with ease.
The lawmaker, who is a vice chairperson of the Senate Committee on Banks, Financial Institutions, and Currencies said owning a bank account should be considered a basic requirement among Filipinos, regardless of the individual’s socio-economic class.
“Kapag ganitong may pandemya, remit na lang nang remit sa bank account at doon tatanggap ng ayuda, bahala ka na kung paano mo gagamitin ang ayuda na ‘yun,” he said.
Gatchalian said the making contactless and cashless payments is possible with the creation of a bank account for each Filipino since 74 million citizens are already using smartphones as of 2019.
Latest records from the Philippine Statistics Authority (PSA) showed that 82% of the 10.5 million initial registrants to the Philippine Identification System (PhilSys), or the national ID system, indicated that they do not have bank accounts. The PSA has set its target registrations to 70 million for this year.