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US Dollar Savings Account


An interest bearing dollar-account which requires presentation of a passbook for deposit and withdrawal transactions.

TARGET MARKET :


INDIVIDUALS

  • At least seven (7) years of age
  • Able to read and write
  • Not suffering from any legal disability
  • With credible identification

INSTITUTIONAL

  • Government Line Agencies (GLAs), Government Owned and Controlled Corporations (GOCCs), and Local Government Units (LGUs)
  • Private corporations, cooperatives, partnerships, associations and other duly registered organizations 

FEATURES 

  • Government Line Agencies  (GLAs), Goverment Owned and Control Corporations (GOCCs), and Local Government Units (LGUs)
  • Private corporations, cooperatives, partnerships, associations and other duly registered organizations
Individual Institutional
Minimum Initial Deposit $ 100 $ 1,000
Required Minimum Monthly ADB $ 500 $ 1,000
Required Daily Balance to Earn Interest $ 500 $ 1,000
Interest Rate (per annum) 0.15% p.a 0.15% p.a
Documentation Passbook Passbook
Closing Fee Closing of Account within one month from opening date $10.00 $10.00
Service Fee for Falling Below the Required Minimum ADB 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 $5/month $5/month
Dormancy Fee Coverage - Accounts with no depositor -initiated financial transaction for two (2) years and falling below the required ADB Collection - Monthly to start on the 5th year reckoned from the date of last financial transaction. $0.50/month Effectivity Date: April 24, 2017 $0.50/month Effectivity Date: April 24, 2017
Replacement Fee for Lost Passbook P200 P200
PDIC Insurance P500,000 in US Dollar equivalent (Maximum deposit insurance per depositor) P500,000 in US Dollar equivalent (Maximum deposit insurance per depositor)

OTHER TRANSACTION FEES
Inter-branch Deposit/Withdrawal Accommodation (Notes only) $ 5/transaction
No limit as to number of withdrawals, No charge
Withdrawal Prior to Expiry of Holding Period 1/4 of 1% of the amount withdrawn within the holding period of 10 banking days

BASIC REQUIREMENT
Local 1. Presentation of at least one (1) original valid photo-bearing ID Notes: a) When necessary, Branches shall require secondary proof of identification (e.g., billing statement of utilities or major credit cards in the name of the customer). b) Identifying documents shall be signed by the customer. c) SSC of referred customer shall be signed by the endorsing officer/employee of the Bank or valued customer. d) The BH/BOO/BSO[1] who shall approve the opening of the deposit account may, at his discretion, confirm the same with the referring officer/employee or valued depositor of the Bank. 2. Two (2) recent ID photos (to be attached to CISSC/LOCIS and SSC) 3. Students who are beneficiaries of remittances/fund transfers and are not yet of voting age may be allowed to present the original school ID duly signed by the Principal or head of the school and submit a clear photocopy of the same. 4. Whenever necessary, the Branch may accept other IDs, provided that it shall not be the sole means of identification. 5. In case the identification documents mentioned above or other identification documents acceptable to the Bank do not bear any photo of the customer or authorized signatory, or the photo-bearing ID or a photocopy thereof does not clearly show the face of the customer or authorized signatory, the Branch may utilize own technology to take the photo of the customer or authorized signatory 6. Birth certificate of the child in case of parents opening an account in behalf of their child Notes: 1) The Branch shall retain a photocopy of the same duly authenticated by the NAC 2) The parent(s) shall still be identified in accordance with the requirements
Foreigner, all of the following: 1. Passport 2. ACR/Diplomatic Identification Card issued by the DFA specifying status i.e., working, business, student or non-resident Note: Foreign national whose working permit is under process shall be required to submit Certificate of Employment.
Court-appointed Fiduciary (Guardian, Administrator, Trustee or Receiver), all of the following: 1. Original Copy of Court Order containing the Fiduciary’s appointment 2. Original Copy of Court Order authorizing the Fiduciary to open a deposit account with LANDBANK Note: The Branch shall retain a photocopy of the Court Order duly authenticated by the NAC.
Single Proprietorship 1. Certificate of Registration with the DTI 2. City/Municipal Mayor’s Permit
Partnership 1. Articles of Partnership 2. Certificate of Registration with the Securities and Exchange Commission 3. Notarized agreement/resolution designating the extent of authority of each partner in dealing with the depository Bank
Corporation 1. Articles of Incorporation and By-Laws 2. Certificate of Registration with Securities and Exchange Commission Note: For those not supervised by SEC, a certificate of registration issued by the appropriate supervising agency shall be submitted. 3. Latest General Information Sheet which lists the names of directors/ trustees/principal stockholders owning at least twenty percent (20%) of the outstanding capital stock and primary officers such as the President and Treasurer 4. Notarized Certificate of Corporate Secretary attesting to the issuance of a Board Resolution authorizing the following: 1) To open an account with LANDBANK 2) Designating the officers authorized to deposit, withdraw, endorse or negotiate checks and otherwise deal with the Bank deposit and the nature and extent of such authority, which shall conform with the By-Laws of said Corporation Note: Conformity of the Board Resolution to the By-Laws shall be checked by the OA. 3) Certifying that the resolution remains effective and has not been amended, revoked or superseded 5. Certificate of registration with appropriate government agency in special cases, such as the DOLE for labor unions

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Customer Care Description
(+632) 8-405-7000

PLDT Domestic Toll Free
1-800-10-405-7000

Email Address
customercare@mail.landbank.com

Where to find us?

Find us! We have 403 Branches, 44 Lending Centers and 2,127 ATMs (as of 31 August 2018) nationwide.