The Land Bank of the Philippines (Landbank) offers a new product to help bring more unbanked and underserved Filipinos–including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers–into the country’sformal banking system.
Through the Landbank “Perang Inimpok Savings Option” or PISO account, interested customers can open a Landbank deposit account with only P1.00 as minimum initial deposit and up to a maximum of P50,000 account balance.
The depositor is only required to submit one valid identification card or any Barangay certification, clearance, or ID for verification.
The Landbank PISO account is being offered to individuals without an existing Landbank deposit account and have no capacity to open a regular deposit savings account with higher initial deposit and maintaining balance requirements.
“The Landbank PISO is another testament of our commitment to advance the National Government’s financial inclusion agenda. We continue to develop accessible and convenient banking products relevant to the diverse needs of our customers, including the unbanked and underserved,” said Landbank President and CEO Cecilia Borromeo.
With the Landbank PISO, accountholders can access the bank’s array of digital banking channels such as the iAccess, Link.BizPortal, and the Mobile Banking App for fund transfer, bills payment, and balance inquiry services.
Account holders can also use the PISO account in any Landbank, BancNet, and 7-Eleven Automated Teller Machines (ATMs), domestic Point-of-Sale (POS) terminals, and for over-the-counter transactions in their respective Landbank branch of account.
