Open savings account via Landbank’s app

Landbank
LandbankYans Baroy/SunStar File Photo

LANDBANK clients can now open a savings account online via smartphones, thanks to the bank’s upgraded mobile banking app, which allows instant account creation without the need to visit a branch.

Using the mobile app, clients can open a Landbank Piso Plus basic deposit account, a regular Landbank Visa debit account, and the new GoBayani savings account designed for overseas Filipinos.

The state-run bank said to open an account online, clients need only their smartphones downloaded with the latest version of the Landbank’s mobile banking app, a secure internet connection, and any valid identification card such as a Philippine Passport, Driver’s License, Social Security System, Unified Multipurpose ID, Professional Regulation Commission ID, or PhilSys ID.

“We are dedicated to continue expanding our digital offerings to bring more Filipinos into the financial mainstream. Opening a Landbank account has never been easier, and we hope more customers can get to experience the benefits of our convenient and secure banking services,” said Landbank of the Philippines president and chief executive officer Lynette Ortiz in a statement.

The mobile banking app is a free application that offers seamless and convenient online fund transfers, bill payments, balance inquiries and salary loan services.

Using the mobile banking app, Landbank customers also enjoy free fund transfers to other banks via InstaPay and PesoNet for the first three transactions in a day worth P1,000 and below.

Digital banking performance

Meanwhile, Landbank’s mobile banking app recorded a 96 percent increase in usage during the first three months of 2024, with transactions soaring to 20.9 million from 10.7 million recorded in the same period in 2023.

Fund transfers and bill payment transactions drove the transaction volume growth, as the mobile baking app generated a 42 percent increase in total transaction value or P89.3 billion, compared to P63 billion last year.

The mobile banking app also led the 63 percent growth or a total of 30.79 million transactions across all of the bank’s major digital channels, reaching P1.95 trillion in total transaction value.

Landbank’s other digital channels include iAccess, an online retail banking channel; corporate internet banking platform, weAccess; web-based payment channel, Link.BizPortal; real-time web-based remittance system for overseas Filipinos, i-Easy Padala; alternative payment channel, Electronic Tax Payment System; facility for institutional clients and national government partners, Electronic Modified Disbursement System; and electronic bulk disbursement facility, Bulk Crediting System. / KOC

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