A non-interest bearing peso account, also known as Checking or Demand Deposit Account wherein deposits are made over-the-counter, while withdrawals are made through the issuance of a check.
TARGET MARKET
INDIVIDUALS
INSTITUTIONAL
FEATURES | INDIVIDUAL | INSTITUTIONAL |
---|---|---|
Minimum Initial Deposit | ₱5,000 | ₱10,000 |
Required Minimum ADB | ₱5,000 | ₱10,000 |
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 | ₱200 |
Closing Fee FEE IF CLOSED WITHIN 30 CALENDAR DAYS FROM DATE OF OPENING | ₱300 Effectivity Date: Dec. 1, 2017 | ₱300 Effectivity Date: Dec. 1, 2017 |
Dormancy Fee Coverage - Accounts with no depositor -initiated financial transaction for one (1) year and falling below the required ADB Collection - Monthly to start on the 5th year reckoned from the date of last financial transaction. | ₱30.00/month Effectivity Date: April 24, 2017 | ₱30.00/month Effectivity Date: April 24, 2017 |
Documentation | ₱500,000 (Maximum deposit insurance per depositor) |
Type of Checkbook | Fees |
---|---|
Personal Checkbook (Booklet of 50 pcs.) | ₱350.00 Effectivity Date: 06 March 2023 |
Commercial Checkbook (Booklet of 100 pcs.) | ₱600.00 |
MDS Checkbook (Booklet of 100 pcs.) | ₱800.00 |
Continuous Form Check / Other Customized Checks | To be based on the approved arrangements and design per Memorandum of Agreement |
OTHER TRANSACTION FEE | |
---|---|
Stop Payment Order (SPO) per Check Requested | P100 |
Returned Check | P2,000/check |
Penalty Charge for RCOCI for every P40,000 amount of check or a fraction thereof | P200/day |
Reprinting of Bank Statements* Private - transactions beyond two (2) months Government - transactions beyond one (1) year *reckoned from date of request | P20/page |
Bank Statement's Holding Fee requested bank statements not claimed/picked-up within one (1) month | P100 |
BASIC REQUIREMENT | |
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Individuals | 1. At least two (2) valid IDs such as: • Philippine Identification (PhilID) Card • New SSS/GSIS ID • Driver's License • Company ID • School ID • Passport • PRC ID • Postal ID • Marriage contract (original copy) • Credit Card of a Reputable Company • License to Carry Firearms 2. Two (2) copies of most recent 1 x 1 ID Picture 3. Tax Identification Number |
Single Proprietorship | • Registration of Business Name with the Department of Trade • Original Application for Registration • Two (2) valid identification cards of signatory |
Partnership | • Articles of Partnership • Certificate of Registration with the Securities and Exchange Commission • Agreement on the extent of authority of each partner • Two (2) valid identification cards of signatories |
Corporation | • Articles of Incorporation • Certificate of Registration with the Securities and Exchange Commission • Corporate By-Laws • Board Resolution duly notarized incorporating the following: ○ Authority to open a bank account with LANDBANK ○ List of officers authorized to sign and the nature and extent of such authority ○ Notarized List of Officers, Board of Directors, Stockholders ○ Two (2) valid identification cards of signatorie |
Association or Organization | • Constitution • Association Agreement |
Corporation in the Process of Incorporation | • Proposed Articles of Incorporation stating therein the name of Treasurer-in-Trust acknowledged to open an account with the Bank on behalf of the Corporation • Duly notarized Secretary's Certificate • Duly notarized Treasurer's Affidavit |
Government Entities | • Charter and/or Law creating the government corporation/agency/office • Executive Order or Department Order creating the government agency • Board Resolution duly notarized incorporating the following: ○ Authority to open a bank account with LANDBANK ○ Officers authorized to sign and the nature and extent of such authority |
Cooperatives | 1. Certificate of Registration with the Cooperative Development Authority 2. Articles of Cooperation and By-Laws • Authority to open a bank account with LANDBANK • Designated Officers authorized to sign and the nature and extent of such authority 3. Duly notarized Board resolution incorporating the following: • Authority to open bank account with LANDBANK • Designated Officers authorized to sign and the nature and extent of such authority |
I want to know more
Customer Care Hotline
(+632) 8-405-7000
PLDT Domestic Toll Free
1-800-10-405-7000
Email Address
customercare@mail.landbank.com