Land Bank of the Philippines (2024)

FAQs

How long before LANDBANK account is closed? ›

Dormant Account

The Account shall be considered DORMANT when it becomes inactive (no deposits or withdrawals) for a period of two (2) years for Savings Account and one (1) year for Current Account. The Bank shall impose a monthly service charge on dormant account if the balance falls below the required minimum balance.

Please be reminded of the following when transacting at LBP ATMs: Minimum withdrawable amount per transaction is P100. Maximum withdrawable amount per day is P50,000. Over-the-counter withdrawals can be made if more than P50,000 is needed.

The LandBank of the Philippines (LandBank) is a financial institution wholly owned by the Government of the Philippines. It aims to strike a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable.

Generally, an account is considered abandoned or unclaimed when there is no customer-initiated activity or contact for a period of three to five years. The specific period is based on the escheatment laws of each state.

Initial deposit (Php 500).

Acceptable Mode of Cash Deposit Transactions

16-digit card number, • 10-digit account number,' and • account type. The maximum aggregate limit of cash deposit transaction, for both on-us and interbranch, shall be Php200,000 per day per account.

The card can be used at over 40 million merchants and over two million ATMs worldwide where the Visa logo is displayed. Our LANDBANK Visa Debit Card provides real advantage over the standard ATM card for everyday purchases and lots more. Use your own money linked to your deposit account wherever you are.

Access your account 24 hours a day, 7 days a week through more than 1,400 LANDBANK ATMs nationwide. Withdraw from up to P 50,000 a day. Transfer funds from your savings to current account and vice versa. Express Payment System (EPS) Cashless purchase up to P50,000.00/day from accredited merchants.

LANDBANK clients can transfer up to P50,000.00 per transaction via Instapay, and now as much as P100,000.00 in total per day. The state-run Bank recently reduced its transaction rate for fund transfer via InstaPay from P25 to P15 starting from 15 June 2023.

How much is the withdrawal fee in LANDBANK? ›

Usually people sending money from overseas to a LandBank account in the Philippines will set up the transfer through their home bank. It will be processed through the SWIFT network before being deposited in your account in the Philippines.

The Land Bank of the Philippines is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable. This dual function makes LANDBANK unique.

The Bank shall impose a monthly service charge on dormant account if the balance falls below the required minimum balance.

A bank can close your account without warning, but here's how to ensure your money is safe. It may sound unlikely, but yes, a bank can close your account without your authorization. In fact, a bank can close your account at any time for any reason, even without any prior warning.

The Savings Account becomes Inactive or Dormant

If an account becomes dormant, you won't be able to issue cheques, renew your ATM/ Debit Card, request to change address or carry out any transaction through ATM, Internet Banking or Phone Banking.