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Open an account anywhere, anytime: LANDBANK Mobile App gets account-opening upgrade; usage up 96% in Q1 2024

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Customers can now open a Land Bank of the Philippines (LANDBANK) savings account completely online via smartphones, as the Bank continues to serve the growing preference of customers for digital solutions and promote financial inclusion.

LANDBANK has upgraded its Mobile Banking App (MBA) with a new straight-through account opening feature which allows customers to open a digital account instantly from anywhere, at any time, without visiting a LANDBANK Branch.

Through the MBA, customers 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, to help build their savings and start their financial journey.

To open a LANDBANK account, interested clients need only their smartphones downloaded with the latest version of the LANDBANK MBA, a secure internet connection, and any valid identification card such as a Philippine Passport, Driver’s License, SSS, UMID, PRC 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 President and CEO Lynette V. Ortiz.

The LANDBANK MBA is a free application that offers seamless and convenient online fund transfers, bills payments, balance inquiries, and salary loan services.

Using the MBA, 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.

 

Q1 2024 digital banking performance

The LANDBANK MBA recorded a remarkable 96% increase in usage during the first three months of 2024, as transactions soared to 20.9 million from 10.7 million recorded in the same period in 2023.

Fund transfers and bills payment transactions drove the transaction volume growth, as the MBA generated a 42% increase in total transaction value or P89.3 billion compared to P63 billion last year.

The LANDBANK MBA also led the 63% 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.

The state-run Bank’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 (eTPS); facility for institutional clients and national government partners, Electronic Modified Disbursement System (eMDS); and electronic bulk disbursement facility, Bulk Crediting System (LBCS).

LANDBANK remains committed to enhancing its digital infrastructure to deliver seamless banking experiences and meet the evolving needs of customers.

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