Land Bank of the Philippines (2024)

i-Easy Padala

Easy Padala is another e-banking innovation from LANDBANK. It is a web-based remittance system (LANDBANK Remittance System) available to overseas Filipinos that facilitates a fast and secure way of sending their hard-earned money to their beneficiaries on a near real time basis wherever they may be.

TARGET MARKET

  • Overseas Filipino Workers (OFWs)
  • Foreign remittance companies, local shipping and manning agencies, manpower placement agencies and remittance couriers

FEATURES

The System has the following existing modules:

  • i-PADALA-Through this module, foreign remittance company partners can transfer the remittances of OFW clients that are for credit to LANDBANK accounts, credit to other bank accounts, pick-up at LANDBANK branches or door-to-door delivery.
  • i-SWELDO- Domestic based shipping and manning agencies, remittance companies and remittance couriers use this module to upload payroll/remittance files for immediate processing by the system. The remittances may be for credit to LANDBANK accounts or credit to other banks.

SIMPLE & EASY STEPS TO FOLLOW WHEN ACCESSING LANDBANK'S INWARD REMITTANCE SYSTEM (IWRS)

  1. Point cursor on the Internet Explorer icon and double click or right click mouse and click open
  2. For dial-up connection click connect button to access the ISP provider. DSL connection just enters the Username and Password.
  3. The Internet Home page will appear, go to ADDRESS BAR & type "www.lbpeasypadala.com" then you shall be directed to the website.
  4. In the website, you can see all the modules of the IWRS on the lower left side corner are Quick Links: "Remitters, Log in Here", "New User, Register Here" and "Forgot Password".
  5. For new user: simply double click the "New User, Register Here" link and you will be directed to Remittance System Registration page.
  6. Choose which type of remitter are you? Individual - i-PADALA (Wholesalers/Remittance Companies and the like) or Domestic Organization, - i-SWELDO (Shipping Companies, Service Contractors, Land/Sea Based Agencies and the like)
  • i-PADALA (Remittance Agent)
  1. Fill-out all the mandatory fields (those marked with Red Star) and click the submit button
  2. If there is no duplication, all the data inputted shall be viewed in the screen with option to "Send Money Now" or "Sign-Off".
  3. Sign-Off will automatically end the session.
  4. "Send Money Now" will choose "Wholesale" option and follow steps 1 to 4. Just remember that all mandatory fields (marked with Red Star) should be properly filled-out with accurate data.
  5. Click finish button and the details shall be transmitted to LBP right away.
  • i-SWELDO (Domestic Organization)
  1. A template file shall be provided by LBP to clients with payroll like transaction.
  2. Domestic Organization should ensure that all mandatory fields (that are in bold) are properly filled-out with the accurate data (wrong A/C Nos. shall be rejected upon uploading).
  3. Create a separate file, which contains the payroll detail, and save it as a CSV (comma separated values) file.
  4. After you have created the payroll file, register in the IWRS as a Domestic Organization.
  5. Fill-out all the mandatory fields (those marked with Red Star) and click the submit button.
  6. If there are no duplications, all the data inputted shall be viewed on the screen with option to "Send Money Now" or "Sign-Off".
  7. Sign-Off will automatically end the session.
  8. In the "Send Money Now" option click Domestic and the Browse buttons and go to the directory where you saved the payroll file.
  9. Once the file has been found, click the upload button. If there are errors, the file will automatically be rejected. The error in the file will be highlighted for easy identification. Once corrected, save the payroll file again via a different file name to avoid duplication. Upload again, if there is no error, the remarks column will confirm how many accounts were processed.

Land Bank of the Philippines (1)

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Land Bank of the Philippines (2024)

FAQs

How much is the initial deposit in LANDBANK? ›

INSTITUTIONAL
FEATURESINDIVIDUAL
Minimum Initial Deposit₱5,000
Required Minimum ADB₱5,000
Service charge below minimum Average Daily Balance Coverage - Accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter Collection - Monthly to start at the end of the 2nd month₱200
3 more rows

What is the strategy of Land Bank of the Philippines? ›

LANDBANK envisions that by 2028, it “shall be at the forefront in nation-building through the promotion of financial inclusion, digital transformation, and sustainable development that benefits all Filipinos,” as the Bank aims “to provide responsive services beyond banking to all clients, publics and stakeholders.”

What is the summary of LANDBANK? ›

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.

What is the minimum amount needed to open a deposit? ›

The interest they pay for savings accounts You usually need to make an initial deposit between $25 and $100 to open a savings or checking account. Find out how much you must keep in the account at all times to avoid or reduce fees.

How much is the minimum investment in LandBank? ›

P5,000.00

Can I open LandBank account while abroad? ›

Why Open a Landbank OFW Savings Account? The Landbank OFW Savings Account is perfect for Overseas Foreign Workers (OFWs) who are currently working in another nation. The account has no minimum balance requirement and offers free services such as a free chequebook, free ATM card, and free access to internet banking.

How much is the maximum deposit in LandBank savings account? ›

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.

What is the minimum deposit or balance for a savings account? ›

A minimum account balance for a traditional savings account is the least amount of money you must keep in your account to avoid fees. Typical minimum account balance requirements for traditional savings accounts range from $300 to $500, although amounts vary and some banks have no minimum requirements.

What are the disadvantages of land banks? ›

Disadvantage: There may be accountability concerns since public meetings and records disclosure required for governmental entities do not apply to private corporations. As with an independent public corporation, there may be misalignment between the land bank and municipality strategies.

How does a LANDBANK make money? ›

Land banks are generally funded through a variety of sources, which may include revenue from the sale of properties, foundation grants, general fund appropriations from local and county governments, and federal and state grants.

What is the advantage of investing in LANDBANK? ›

LANDBANK charges among the lowest broker's fee in the industry, hence, you get to maximize the earnings on your investment. Other GSEDs require a minimum investment amount of between P500,000 to P1 million in the secondary market. At LANDBANK, you may invest in GS for a minimum amount of P200,000.

Does LANDBANK can receive money from abroad? ›

Bank transfers to Land Bank of the Philippines

Our simple online service makes it easy to send a bank transfer to Land Bank of the Philippines and its subsidiary, Overseas Filipino Bank from thousands of miles away.

Is land banking a good investment? ›

Potential for Appreciation: One of the main advantages of land banking is the potential for appreciation in the value of the land over time. As the population grows and demand for land in strategic locations increases, the value of the land is likely to increase as well.

How much does LANDBANK withdraw per day? ›

1. The E-Card is used as LANDBANK ATM card. 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.

Can I open a bank account with no money? ›

Opening a bank account with no opening deposit, and with no need to maintain a balance, is possible. Think carefully about which bank is the best for you to open an account with. Weigh your options based on your financial goals, what you'll use your account for, and if there are any bank fees.

Which bank has lowest initial deposit? ›

Savings account with low initial deposit and maintaining balance
  1. BPI Easy Saver. ...
  2. Eastwest Bank Basic Savings Account. ...
  3. Equicom ATM Savings account. ...
  4. Landbank ATM Savings account. ...
  5. Maybank Value savings account. ...
  6. BPI Direct Express Teller Savings account. ...
  7. China Bank Easi-Save ATM. ...
  8. Security Bank Peso Savings Cash Link ATM Card.

How much is the initial deposit in BPI? ›

Initial deposit – Depending on the preferred account type you are opening, the initial deposit is P200. However, check with your preferred BPI branch as they might require P500. No initial deposit is required to open a BPI Padala Moneyger or Save-up.

Can I open Landbank account online? ›

Online Account Opening and Updating

Account opening and updating now made easier and faster through the improved LANDBANK Digital Onboarding System (DOBS). DOBS offers a convenient way to apply for a LANDBANK deposit account right at your fingertips!

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