BSP Mandates Fair Financial Services for Persons with Disabilities

The Bangko Sentral ng Pilipinas (BSP) has directed its supervised institutions (BSIs) to ensure their services and operations are not discriminatory toward persons with disabilities (PWDs). In a memorandum dated September 8, the BSP reminded BSIs of their legal duty to provide fair and equitable treatment to all PWDs and ensure the accessibility of their financial products and services. "Ensure the fair and equitable treatment of PWDs at all stages of the customer relationship," stated the memo, signed by BSP Deputy Governor Bernadette Romulo-Puyat. The issuance emphasized that BSIs' policies, procedures, documentary requirements, and operational practices must be consistent with applicable laws and must not discriminate against PWDs or unnecessarily restrict their access to and use of financial products and services. Specifically, BSIs are prohibited from denying applications for account opening solely based on an individual's disability. They are also forbidden from rejecting valid government-issued PWD identification cards and preventing visually impaired individuals from opening solo accounts. BSIs were also told to eliminate unnecessary additional documentary or procedural requirements that are not legally justified. "Any distinction in treatment or additional requirement must be justified by applicable laws or regulations, or by legitimate considerations specific to the financial product, service, or transaction, and shall not be imposed solely on account of a person's disability," the BSP clarified. Furthermore, BSIs must provide express lanes or priority service for PWDs in their physical branches, with clear signage indicating their availability. Where the provision of express lanes is not feasible, PWDs shall be given priority in all transactions. For digital transactions, BSIs must also ensure all their products and services are accessible for PWDs. "Digital platforms, disclosures, and customer assistance channels should not unnecessarily prevent PWDs from accessing or using financial products and services," the BSP said. "Where appropriate, reasonable assistance or alternative service channels should be made available." This move aims to promote the economic inclusion of persons with disabilities in the Philippines and remove barriers to accessing financial services. The directive underscores the importance of inclusion within the financial sector, aligning with ongoing efforts to advocate for the rights of PWDs in the country.