Affidavit of Loss of
Current Account Passbook

In the Philippines, an Affidavit of Loss of Current Account Passbook is a vital legal document required by banks when a client's passbook for a current account (also known as a checking account or demand deposit account) has been lost or stolen. This sworn statement formally declares the loss, explains the circumstances, and is crucial for requesting a replacement passbook and protecting the account holder from unauthorized transactions.

When is this document required?

• Passbook Replacement: It is a mandatory requirement by most banks in the Philippines before they will issue a new passbook for a current account.
• Security Measure: It serves as official notice to the bank, helping to prevent fraudulent use of the lost passbook. While current accounts typically rely on checks for transactions, a lost passbook could still pose a minor risk or be needed for specific inquiries.
• Compliance: Banks require this affidavit to comply with internal policies and regulatory guidelines concerning lost banking instruments and customer account security.

Legal Requirements:

The affidavit must be executed by the account holder and must be notarized by a commissioned Notary Public in the Philippines. Notarization attests to the authenticity of the affiant's signature and the voluntariness of their oath. Under Philippine law, making false statements in a sworn affidavit constitutes Perjury, which is a criminal offense punishable under the Revised Penal Code. It's essential for the affiant to accurately state all facts related to the loss.