Landbank online fund transfers for P1K below remain free

Landbank online fund transfers for P1K below remain free

In line with providing safe, convenient, and accessible digital banking services, the Land Bank of the Philippines (Landbank) continues to waive fees for fund transfers to other banks via InstaPay and PESONet for transactions worth PHP1,000 and below.

Landbank customers can enjoy free online fund transfers for the first three transactions facilitated in a day through the Landbank Mobile Banking App (MBA), and the Bank’s online retail banking channel, the iAccess.

For interbank fund transfers amounting to more than PHP1,000, a lowered fixed transaction fee of PHP15 from the previous rate of PHP25 will be applied. Meanwhile, fund transfers between Landbank and Overseas Filipino Bank (OFBank) accounts, regardless of the amount, remain free-of-charge.

“We are extending our waiving of fees for small-value online fund transfers to encourage more clients to embrace cashless transactions, in support of the National Government’s thrust of building a cash-lite economy. Beyond the convenience of free fund transfers, customers can also use Landbank’s digital platforms for bills payment, cardless withdrawal, and opening of additional deposit accounts,” Landbank president and CEO Lynette Ortiz said in a news release.

For seamless and convenient online fund transfers and bills payment, the Landbank MBA can be downloaded for free on Google Play, Apple App Store, and Huawei App Gallery. Landbank customers can easily enroll their account in the MBA to conduct online financial transactions, by providing their deposit account details. (PR)

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