Here are the documents needed to open a UnionDigital Bank account
UNIONDIGITAL BANK – This article will teach you about the documents needed in order for you to open an account.
A UnionDigital Bank is a digital bank that aims to make banking more safe and accessible to Filipinos and to also empower the country’s digital economy. It is wholly owned by Union Bank of the Philippines (UnionBank).
If you’re not a US person and not subject to the United States Foreign Account Tax Compliance Act (FATCA), you’re eligible to register for a digital bank account.
You need to make sure that you’re a citizen of the Philippines, at least 18 years of age, have a valid Philippine mobile phone number, be present in the Philippines, and have present and permanent addresses in the Philippines.
Here are the documents needed to open an account:
The first document needed is an ID document in order for UnionDigital Bank to confirm your identity. This digital bank allows you to open an account with any of the following:
- Philippine Passport
- Philippine Driver’s License
- Social Security System (SSS)
- Professional Regulatory Commission ID (PRC ID)
- Postal ID
- Voter’s ID
- PhilHealth ID
- PhilSys ID
This digital bank may occasionally require additional documentation from you. In that case, the digital bank’s Customer Support team will reach out to you for those additional requirements.
Financial institutions like this digital bank need to comply with the security regulations set out by the BSP (Bangko Sentral Ng Pilipinas) in order to minimize the risk of criminal activity. The “Know Your Customer” (KYC) process is required for this digital bank to verify the identity of its clients in order to prevent crimes such as money laundering and identity fraud.
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