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FAQs


Frequently Asked Questions

Yes, the original copy of the dishonored check shall be returned to the depositor with the reason for return stamped on it.

The depositor of the dishonored check may re-clear it but there are some cases where the returned check can no longer be re-cleared, like when the check is dishonored for having been drawn against a “closed account.”

  • Faster availability of funds to payees/beneficiaries
  • Faster feedback, allowing you to know whether the check is funded or not by the next business day
  • Improved security in deterring fraud and against loss or tampering of checks in transit
  • Wider checks presentment window within the business day as deposit cut-off may be extended
  • Faster turnaround time on service requests
  • With the implementation of the CICS, checks will have the following features as prescribed by the PCHC
  • Standardized length of 8 inches for both Corporate/Government and Private/Individual checks
  • A waiver that states I/We allow the electronic clearing of this check and hereby waive the presentation for payment of this original to (Drawee Bank)
  • Embedded mandatory security features
  • Checks with old features will only be accepted until JUNE 30, 2017, except for post-dated checks warehoused by the presenting banks until December 31, 2016.
  • Any check with missing information or alteration will no longer be eligible or acceptable for clearing, even if countersigned
  • The use of a check writer to affix the amount in the “amount in figures” line is no longer allowed unless the amount in words is written below it. 

Check Image Clearing Systems (CICS) is the new automated clearing system operated by the Philippine Clearing House Corporation (PCHC), where information on the check and its image are digitally captured by the Bank receiving the check deposit and presented electronically to the paying Bank. This eliminates the need to physically transport paper checks for clearing. 

Paid/honored checks will no longer be given back to the drawer/issuer and will just be kept by the presenting/collecting bank for a period of six (6) months. The drawer/issuer will be provided with the image reproduction of the paid/honored check in their monthly statement of account.

Shifting to CICS is the initiative of the Banking Industry and PCHC with support from BSP.  It is primarily aimed at providing better service to the banking public.

This specifically aims to make the check clearing process faster, more efficient and secured. Its primary objective is to shorten the clearing cycle, making funds available the next banking day instead of the traditional 3 to 5 days. 

Transaction

Fee

Inter-Branch Deposit

$5.00 per transaction

Inter-Branch Withdrawal

$5.00 per transaction
Withdrawal prior to expiry of holding period (Minimum holding period of ten (10) banking days from date of deposit) ¼ of 1% of the amount withdrawn

Account Failing below 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

USD 5.00

Closing of account within one month from opening date

USD 10.00 

Dormant Account

  • Coverage - Accounts with no depositor-initiated financial transaction for two (2) years and failing below the required ADB
  • Collection - Monthly to start at the 5th year, reckoned from the last date of financial transaction

USD 0.50

No. of withdrawals in a month & charges

No limit, No charge

Passbook Replacement (lost or damaged) P200.00

(as of August 2022)

Bank Commission

Fee

FCDU

$5

Regular

$5 plus

DST P0.60/P200 of the applied amount

 

I. For Foreign currency

I.1 To Foreign Bank via OTT6

I.1.1 US Dollar

USD Transaction Commission   Cable

FCDU

Beneficiary - USD15.00

Our - USD 20.00

  USD 10.00
Regular

 Beneficiary - USD15.00  plus DST1 PHP0.60 for every PHP200.00 of the applied amount

Our - USD20.00  plus DST1 PHP0.60 for every PHP200.00 of the applied amount

  PHP500.00

I.1.2 Third Currency

Transaction Commission Cable

FCDU

Beneficiary - USD15.00

Our - USD 15.00

USD 10.00
Regular

 Beneficiary - USD15.00  plus DST1 PHP0.60 for every PHP200.00 of the applied amount

Our - USD15.00  plus DST1 PHP0.60 for every PHP200.00 of the applied amount

PHP500.00
Plus correspondent Bank Charges Currency Amount
For both FCDU OUR and Regular OUR

Euro

EUR 45.00
Great Britain Pound GBP 13.00
Japanese Yen JPY 5,500
Australian Dollar AUD 24.00
Singapore Dollar SGD 30.00
Swiss Franc CHF 24.00
Canadian Dollar USD 10.00
Other Currencies USD 30.00

 

I.2 To Local Bank via GSRT2

Transaction Fees/Charges
FCDU USD15.00
Regular USD15.00 plus DST PHP0.60 for every PHP200 of the applied amount

II. Peso Currency to local bank

Type of Channel Fees/Charges
RTGS4 PHP150.00 plus Ad Valorem

 

MATRIX FOR AD VALOREM
Transaction value Fee per Transaction
1.00-100.00 Free of charge
101.00-500,000.00 PHP5.00
500,001.00-1,000,000 PHP10.00
1,000,001.00-39,999,999.99 Ad Valorem Fee =Transaction Value x0.00001 (round off to the nearest Peso)
40,000,000.00 and above PHP400.00

1DST-Documentary Stamp Tax

2GSRT-Gross Settlment Real-Time Channel for Dollar Denominated transactions

3PDDTS-Philippine Dollar Domestic Transfer System

4RTGS - Real-time Gross Settlment Real-Time Channel for Peso Denominated transactions

5PesoNet - Peso denominated transactions (electronic fund transfer service)

6OTT - Outgoing Telegraphic Transfer

(As of January 2022)

1. For Foreign currency

1.1 From Foreign Bank

Type of Settlement

Fees/Charges

For credit to a LANDBANK US Dollar Account

USD5.00
For credit to a LANDBANK Peso Account*

P50.00 plus DST1/ PHP0.60 for every PHP200.00 of the applied amount 

*Additional PHP150.00 bank commission for every Easy-$ -Pension Account

For credit to other local bank

USD-GSRT2

USD15.00

USD-PDDTS3

USD5.00

PHP-RTGS4

PHP150 plus DST1/ PHP0.60 for every PHP200.00 of the applied amount plus Ad Valorem

PHP-PesoNet5 PHP120.00 plus DST1/ PHP0.60 for every PHP200.00 of the applied amount 

I.2 From Foreign Bank

Type of Settlement

Fees/Charges

For credit to a LANDBANK US Dollar Account

USD5.00
For credit to a LANDBANK Peso Account

P100.00 plus DST1/ P0.60 for every P200 of the applied amount

 

II. For Peso Currency

Type of Settlement

Fees/Charges

PesoNet5/

None
RTGS4/

P150.00

MATRIX FOR AD VALOREM
Transaction value Fee per Transaction
1.00-100.00 Free of charge
101.00-500,000.00 PHP5.00
500,001.00-1,000,000 PHP10.00
1,000,001.00-39,999,999.99 Ad Valorem Fee =Transaction Value x0.00001 (round off to the nearest Peso)
40,000,000.00 and above PHP400.00

From: Remittance Tie Ups/Partners

Charges vary depending on the contract agreement with each tie up/partner

Note: Fees and charges may change without prior notice.

1DST-Documentary Stamp Tax

2GSRT-Gross Settlment Real-Time Channel for Dollar Denominated transactions

3PDDTS-Philippine Dollar Domestic Transfer System

4RTGS - Real-time Gross Settlment Real-Time Channel for Peso Denominated transactions

5PesoNet - Peso denominated transactions (electronic fund transfer service)

6OTT - Outgoing Telegraphic Transfer

(As of August 2022)

 

Transaction Fees/Charges
FCDU Regular
  • US Dollar – within and outside New York subject to fifteen (15) banking days clearing period
USD 5.00 USD 5.00 plus
DST1/ P3.00 per check
  • Other Foreign Currency – through special clearing and should not be lower than USD250 equivalent
USD 5.00 USD 5.00 plus
DST1/ P3.00 per check
Charge on Returned Check USD 20.00 per check USD 20.00 per check
Returned Check Advice USD 1.00 USD 1.00

1/DST - Documentrary Stamp Tax

(As of January 2022)

 

 

Transaction

Fee

FCDU

$10.00

Regular

 

$10.00 plus

DST1/ P0.60 for every P200 of the applied amount

1/DST - Documentrary Stamp Tax

(As of August 2022)

Transaction

Fee

Euro

FCDU

€25.00

Regular

€25.00 plus

DST1/ P0.60 for every P200 of the applied amount

Other Third Currency

FCDU

$15.00

Regular

 

$15.00 plus

DST1/ P0.60 for every P200 of the applied amount

(As of August 2022)

Transaction

Commission

Cable

FCDU Beneficiary

            Our

$15.00

$20.00

$10.00 

$10.00

Regular Beneficiary

             Our

$15.00

$20.00

P500.00

P500.00

Plus DST

P0.60/P200 of the applied amount

 

Transaction

Commission

Cable

FCDU Beneficiary

            Our

$15.00 

$15.00

$10.00

$10.00

Regular Beneficiary

             Our

$15.00

$15.00

P500.00

P500.00

Plus

DST P0.60/P200 of the applied amount

 

Plus Corr Bank Charges for Both FCDU & Regular – OUR

Currency

Amount

EUR                        

GBP                           

JPY                       

AUD                           

SGD

CHF

Other Currencies                                       

45.00

13.00

5,500.00

24.00

30.00

24.00

US$30.00

 

The LANDBANK Visa Debit card is the new and innovative product by LANDBANK which allows you to purchase from over 30 Million Visa merchants withdraw from 1.9 million ATMs worldwide. The LANDBANK Visa Debit card replaced the LANDBANK ATM card which could only allow Philippine withdrawals and has no swiping facility.

Just open a savings or checking account at any LANDBANK branch and you can instantly get your LANDBANK Visa Debit card on the spot! For your convenience, LANDBANK can process and issue your card at the branch, which means no waiting or returning to the branch to get your card.

Like a credit card, you can now use your LANDBANK Visa Debit card in any merchant which accepts Visa. Apart from local merchants such as SM, Rustan’s, Mercury Drug, Petron, Robinson’s Supermarket, Starbucks and the like, you can use your LANDBANK Visa debit card in over 30 Million Visa accredited stores worldwide. Think of international brands such as Nike, Apple, Samsung, Shell, LV and you are sure that these stores will accept your LANDBANK Visa Debit Card.

Aside from using your Debit card to swipe, you can also use it to purchase goods online! Just like a credit card, one can just input the card details as asked on the online store such as iTunes, and the purchase will be completed in a matter of seconds.  So from now on, you can use your Debit card to purchase airline tickets such as Cebu Pacific or PAL and any international airline. You can also buy songs from iTunes or book at hotels from Agoda or buy cinema tickets from SM!

The basic benefits are convenience, access and security. With your LANDBANK Visa Debit card, you can don’t have to bring cash which may be stolen from you. You can simply swipe to purchase and off you go! Previously, your ATM card could not purchase online but today you have access to millions of online stores worldwide. Also, you can now withdraw from millions of ATMs around the world.

These are the limits for the following transactions:

Type of Transaction Maximum Limit Per Card Per Day Purpose
Daily LANDBANK Visa Debit Purchase P30,000 In-store, online, phone, mail, and overseas purchases
Daily Cash Withdrawal P30,000 ATM cash withdrawals here and overseas

 

Withdrawal and balance inquiry from LANDBANK ATMs is free but some fees and charges apply for the following transactions:

Annual Card Fee N/A
Card Renewal Fee Free
Lost/Stolen/Damages Card Replacement Fee P150
ATM International Balance Inquiry P50
ATM International Cash Withdrawal P150

*Applicable fees may be charged for all International/Cross Border Transactions

 

The Freedom of Information (FOI) Program is the Government’s response to the call for transparency and full public disclosure of information. FOI is a government mechanism, which allows Filipino citizens to request any information about government transactions and operations, provided that it shall not put into jeopardy privacy and matters of national security.

The FOI mechanism for the Executive Branch is enabled via Malacañang Executive Order (EO) No. 2, series of 2016 that LANDBANK has adopted under EO No. 125, s. 2016 or People's Freedom of Information (PFOI) Manual.

Any Filipino citizen can make an FOI Request.

InformationRequests can be made for information, official records, and public records, pertaining to government official acts, transactions, or decisions required by law, executive orders, rules or regulations to be entered, kept and made publicly available by the Bank.

No.  FOI requests only cover public information or records. 

 

As a financial institution, LANDBANK is governed by applicable laws and regulations to protect client information. Thus, we do not disclose any information without consent and proper authorization. 

 

All requested information shall be made publicly available once granted in order to cater similar or duplicate requests.

 

Should you want to request for information about your LANDBANK account, you may direct your request via this link or contact our Customer Care Center thru the following:

 

• 24/7 Hotline : (02) 405-7000 / 1-800-10-405-7000 (PLDT – Domestic Toll Free) 

• eMail: customercare@mail.landbank.com

As part of our commitment to transparency and good governance, LANDBANK regularly post information in its website. Please visit this link

a) You may download the LANDBANK FOI Request Form

c) Accomplish the form and attach valid Identification

b) Submit it to the following: 

The standard processing time is fifteen (15) working days.

Yes. In some instances, we may need more time to review your request and thereby extend the processing time. Under such circumstances, we will inform you of an extension, which shall not be longer than twenty (20) working days.

There are no fees to make a request. But a reasonable fee maybe imposed for necessary costs, including costs of printing, delivery, reproduction and/or photocopying.

Type of Service/Transaction

Charges/Fees

Over-the-Counter (OTC)

Inter-branch Deposit/Withdrawal/Check Encashment (for inter-regional transactions only)

  • P10,000 and below
  • Above P10,000

 

 

 

P 50.00
 P100.00

Inter-branch Check Encashment
(OSVS fee – regardless if within or outside the political region)

  • P10,000 and below
  • Above P10,000
P 50.00
 P100.00

Inter-branch DM/CM (for inter-regional transactions only) 

  • P10,000 and below
  • Above P10,000
P 50.00
 P100.00

Account falling below minimum Average Daily Balance (ADB) Savings and Demand Deposit Accounts

  • 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

 

 

 

P 200.00 /month

Closing of Account

  • Closing of Savings or Current Account within one month from opening date
P 300.00

Stop Payment Order (SPO) per request

P 100.00 /check

Returned Check

  • Penalty charge per returned check
  • Penalty charge for  Returned Checks and Other Cash Items (RCOCI)  

 

 P 2,000.00/ check

P 200.00 /day for every P40,000 amount of check or a fraction thereof

Dormant Account

Savings Deposit Account

  • Coverage  -  Accounts with no depositor -initiated financial transaction for two (2) years and falling below the required ADB
  • Collection - Monthly to start at the 5th year, reckoned from the date of financial transaction.

Demand Deposit Account

•       Coverage  -  Accounts with no depositor -initiated financial transaction for one (1) year and falling below the required ADB

•       Collection - Monthly to start at the 5th year, reckoned from the date of financial transaction.

P 30.00 /month

 

 

 

P 30.00 /month

 

Easy Savings Plus (ESP) Account

  • Service fee in excess of two (2) withdrawals in a month

P 100.00 /withdrawal

Electronic Money Transfer (EMT)

  • PHP20,000.00 and Below
  • Above PHP20,000.00

 

 

PHP100.00

PHP100.00 + 1/8  of 1% in excess of PHP20,000   

Printing and Reprinting of Bank Statements/Transaction History

  • Government  - for transaction/s beyond  one (1) year, (reckoned from date of request)
  • Private          -  for transactions beyond two (2) months, , (reckoned from date of request)

 

P 20.00 /page

P 20.00 /page

Bank Certification on Deposit Balances 
(for all kinds of bank deposit certification except those covered in MOA/MOU)

P 200.00/ certification

Bank Guarantee Against Deposit (BGAD)

P 400.00

Passbook Replacement (lost or damaged) P 200.00

(as of August 2022)

Transaction/Services

LANDBANK Visa Debit Card (LVDC) / GSIS UMID

Proprietary (includes Sikat Saka, Bagong Bayani)

RFID

E-Card

LANDBANK Prepaid Card (LPC) - Cash Card 

LANDBANK Prepaid Card (LPC) (GPR, Gift Card, Travel Card)

LANDBANK Card Transactions via ATM
Interbank Withdrawal  Subject to fees set by other banks PHP10.00
Interbank Balance Inquiry PHP1.00

Fund Transfer via LANDBANK ATM

LANDBANK to LANDBANK

PHP10.00

PHP10.00

PHP10.00

PHP10.00

PHP10.00

N/A

LANDBANK to Other Banks PHP25.00 PHP25.00 PHP25.00 PHP25.00 PHP25.00

N/A

Fund Transfer via Other Banks’ ATMs

LANDBANK to LANDBANK

PHP25.00 PHP25.00 PHP25.00 PHP25.00 PHP25.00

N/A

LANDBANK to Other Bank

PHP25.00 PHP25.00 PHP25.00 PHP25.00 PHP25.00

N/A

Bills Payment

Free Free Free Free Free N/A

International Cash Withdrawal

PHP150.00

N/A

N/A

N/A

N/A

Travel Card 

- $3.00 Others

- PHP150.00

International Balance Inquiry

PHP50.00

N/A

N/A

N/A

N/A

Travel Card 

- $1.00 Others

- PHP50.00

Other Fees
Inactivity Fee N/A N/A N/A N/A N/A

Travel Card 

- PHP150.00 (per wallet, per month)

Others

- PHP25.00

Card Replacement Fee

Regular - PHP150.00

GSIS UMID - PHP300.00

PHP110.00

PHP300.00

PHP 250.00

**PHP150.00

PHP150.00

Request for PIN Mailer

PHP50.00

PHP50.00

PHP50.00

PHP50.00

PHP50.00

PHP50.00

Request for PIN Resetting Free Free Free Free Free

Free

ONLINE BANKING (FUND TRANSFER)
InstaPay PHP25.00 PHP25.00 PHP25.00 PHP25.00 N/A N/A
PesoNet PHP15.00 PHP15.00 PHP15.00 PHP15.00 N/A N/A
Transactions via LANDBANK ATM

LANDBANK
Card 

Internationally-issued Cards Other Bank’s card
***ATM Withdrawal Free PHP250.00 PHP16.00
Balance Inquiry Free Free PHP2.00

*Applicable fees are subject to change without prior notice.

**  Replacement fee for cash card issued under special projects (i.e. grants, subsidies) shall be based on the approved project guidelines.

*** Includes cardless withdrawal for LANDBANK cards and cash advance transactions for credit cards

(as of August 2022)

Type of Checkbook

Price/Fee

Personal Checkbook (Booklet of 50 pcs.)

PHP300.00

Commercial Checkbook (Booklet of 100 pcs.)

PHP600.00

MDS Checkbook (Booklet of 100 pcs.)

PHP800.00

Manager’s Check

PHP50.00

Gift Check

PHP55.00

Continuous Form Check /

Other Customized Checks

To be based on the approved arrangements and design per Memorandum of Agreement

(as of August 2022)

Size

Rental Fee

a)     5”   x  5”  x 24”

₱1,000/year

b)     3”   x 10” x 24”

₱1,200/year

c)     5”   x 10” x 24”

₱1,400/year

d)     10” x 10” x 24”

₱1,800/year

e)     Any other size not specified 

For BBS Head Approval

Conditions on the use of SDB:

1.    To avail of SDB, depositor must have account/s with total ADB of at least PHP200,000
2.    Rental Fee is waived if ADB is at least PHP1.0M at any time
3.    Deposit for the key is PHP2,000 regardless of size of SDB
4.    SDB contract is valid for two (2) years

(as of August 2022)

Requesting Party ADB of Deposits Service Charge
For VIEWING For RELEASING
LANDBANK Clients/Depositors  PHP500,000.00 PHP500.00 PHP1,000.00
> PHP500,000.00 Waived Waived
Non-LANDBANK Clients/Depositors - PHP1,500.00 PHP1,500.00

(as of August 2022)

 

Service Fee
Fund Transfer PHP25.00/transaction

(as of August 2022)

Transaction

Price/Fee

Acceptance of Post-Dated Check (PDC) PHP10.00
Pull-out by depositor PHP100.00
Resetting of Credit Date PHP100.00

(as of August 2022)

To report a Lost/Stolen card you may:     

a. Visit your depository branch and submit a notarized affidavit of loss
b. Access your eBanking Account*

  • Land Bank Phone Access
    • Dial 405-7000
    • Press 2 - For More Land Bank Phone Access Services
    • Key in your ten-digit bank account number and four-digit telephone access number
    • Press 2 - Report a Lost/Stolen Card
    • Press 1 – To Continue
  • IAccess (Retail Internet Facility
    • Log in to your account via https://www.lbpiaccess.com.
    • Under Features click on “Report of Lost/Stolen ATM Card”
    • Select Account Number
    • Click “Next”
    • Confirmation/Card successfully tagged.

*If you are not yet enrolled in these facilities, please visit your depository branch.

c. Call our 24x7 Customer Care Center at 405-7000 (NCR) or PLDT Toll Free 180010-405-7000 and press 0 talk to a Phonebanker

Kindly visit  your depository branch to request card replacement.
Please note of the following requirements:

  •     Notarized Affidavit of Lost
  •     Valid IDs

Cash Card has a validity of 3 years subject to reactivation.

Cash Card is for institutional (corporate) accounts only. It is not a deposit account. It is only use for corporate credits like employee benefits, loans, pensions, payroll credits, commissions  of agents/sales personnel. Reimbursements, allowances, bonuses. Fund Remittances, Employees Identification Card, Collection Mode for Merchants.

Kindly visit your servicing Land Bank branch for card reactivation.
Please bring with you your Cash Card and Valid IDs

Card Reactivation Fee: P50.00

JAI means Joint Account Indicator - "0" for single/individual account, "1" or "2" for joint account.

You may call our LANDBANK Phone Access hotline number (02) 405-7000, or PLDT domestic toll-free number 1-800-10-7000 to report non-receipt of your Billing Statement and also to get your latest statement balance.

You may also request for a copy of your Billing Statement through email at ccad@mail.landbank

You may call our LANDBANK Phone Access hotline number (02) 405-7000, or PLDT domestic toll-free number 1-800-10-7000 to get your latest statement balance.

You may also request for a copy of your Billing Statement through email at ccad@mail.landbank.com.

You may call our LANDBANK Phone Access hotline number (02) 405-7000, or PLDT domestic toll-free number 1-800-10-7000 to get your latest statement balance and current outstanding balance.

 You may also send an email request through ccad@mail.landbank.com.

You may call our customer service number (02) 405-7275, 405-7281, 405-7282, Mondays to Fridays from 8am to 5pm to know the status of your application.

 You may also send an email request through ccad@mail.landbank.com.

Activate your LANDBANK Credit Card via the LANDBANK Mobile Banking App! 

Log in using your iAccess ID and password and go to  More menu > Manage my Accounts > Activate Credit Card.

For further assistance, you may call our Customer Care Hotline numbers 8-405-7000 (Metro Manila) • 1800-10-405-7000 (PLDT Toll Free Number) • Smart, Sun and Talk n Text (Flat rate of Php 8.00/call): 1 800-10-405-7000

Peso billings may be settled in any LANDBANK or Banco De Oro (BDO) branches nationwide.

Dollar billings may be settled in any LANDBANK branches nationwide. Payments may be made in dollar notes or its peso equivalent.

BDO may also accept payments for dollar billings provided payments are made in dollar notes only.

The following are the other payment facilities of LANDBANK Credit Card (for Peso account only):

    1.  Phone Access - a banking facility which provides clients the convenience of making selected off-site bank transactions thru phone.

    2.  LANDBANK I-Access – is an internet banking facility which provides clients the convenience of making selected off-site bank transactions such as Account Inquiry, Fund Transfer, and Bills Payment, thru the internet.  For more information, please visit http://www.lbpiaccess.com.
 
    3.  ATM Bills Payment – is a payment facility thru LANDBANK ATMs nationwide.

    4.  Auto Debit Arrangement (ADA) - is an automatic debit from your LANDBANK savings/ current deposit account to be credited to your LANDBANK Mastercard credit card on your payment due date.

Cardholder may enroll in this arrangement by submitting a duly filled-out ADA form available at LANDBANK Credit Card and in all LANDBANK branches nationwide.

To report a lost or stolen LANDBANK credit card, please call our customer service number (02) 8405-7275,8405-7281, 8405-7282, Mondays to Fridays from 8am to 5pm, or the 24-hour BDO lost card hotline number (02) 840-7499 or domestic toll free number 1-800-10-840-7499.

It is a grace period that allows you to defer payment of your credit card bill for a maximum of 60 days without Late Payment Penalty Fees and interest-on-interest.  

 

If you are, however, able to make a payment, we highly encourage you to use our electronic banking channels (LANDBANK Mobile Banking App, iAccess, LinkBizPortal, and Phone Access).

All LANDBANK Mastercard Credit Cardholders may avail of the 60-day Payment Grace Period.

This covers payment due dates from March 20, 2020 up to May 15, 2020, subject to the extension of the enhanced community quaratine (ECQ) period.

 

You may pay your credit card bill on or before the following extended payment due dates: 

Credit Card Type

Payment Due Dates

New Payment

Due Date

Gold

March 20, 2020 and April 20, 2020

May 19, 2020

Classic

April 06, 2020

May 06, 2020

June 05, 2020

Only those covered by the auto-debit arrangement (ADA) need to request for temporary suspension of this arrangement. Cardholders not covered by the ADA need not call the Bank to avail of the payment grace period program.  You may send your request for the non-implementation of ADA or reversal of payments made during the ECQ period to ccad@mail.landbank.com.  

Interest-on-interest shall be waived. 

No interest shall also be charged if the total amount due is fully settled on or before the new payment due date.  

All interest charges reflected in the current month’s Statement of Account shall be reversed the following month.   These shall be reverted back to the cardholder’s account (net of interest-on-interest) only if the cardholder pays less than the total amount due on the new payment due date.  The accrued interest shall be payable on the next payment due date unless the cardholder requests for its payment on a staggered basis.

Cardholder need not pay the loan amortization due within the payment grace period. Loan amortizations (Principal and Interest) due within the payment grace period shall move by 60 days.  This will  extend the final due date of the entire loan by 60 days.

You may call our hotline (632) 8-4057000 or email us at ccad@mail.landbank should you wish to settle the deferred accrued interest via a special payment arrangement.

Loan amortizations falling due within March 15 up to May 15, 2020. This shall be automatically extended if the ECQ shall be extended by the President of the Republic of the Philippines

All Salary Loan borrowers (LLS/ LMLS) regardless of Loan status whether these are current or past due are entitled to avail this program.

  • The maturity date of your salary loan will be automatically extended by two (2) months; LANDBANK will add two (2) months to the original maturity date indicated in the Promissory Note (PN).
  •  The interest accrued on the unpaid principal portion of the loan during the grace period shall be added to the loan’s outstanding balance.
  • After the grace period, the monthly amortization shall be based on the existing amortization schedule. The accrued interest from the grace period shall be collected on staggered basis on the last two amortization due dates.

Sample Illustration:
Sample 1:
Total Loan Amount: Php 50,000
Monthly Amortization: Php 4,407
Due Date: Every 30th of the month
Payment Due Dates Deferred: March 30, 2020 and April 30,2020
Loan Term Extension: 2 months
Original Maturity Date: December 29, 2020
New Loan Maturity Date: February 28, 2021

Monthly Amortization Due with the grace period applied:


March 30, 2020 = Php 0
May 30, 2020 = Php 4,407
January 31, 2021 = Php 4,739
February 29, 2021 = Php 4,704


Sample 2:
Total Loan Amount: Php 50,000
Monthly Amortization: Php 4,407
Due Date: Every 15th of the month
Payment Due Dates Deferred: March 15, 2020, April 15,2020 and May 15, 2020
Loan Term Extension: 2 months to start from June 15 (60-day grace period of Amortization Due Date of April 15)
Original Maturity Date: December 15, 2020
New Loan Maturity Date: March 15 , 2021


Monthly Amortization Due with the grace period applied:


March 15, 2020 = Php 0
April 15m 2020 = Php 0
May 15, 2020 = Php 0
June 15, 2020 = Php 4,407
February 15, 2021 = Php 4,739
March 15, 2021 = Php 4,704

Existing auto-debit arrangement shall be suspended until the end of the 60 day grace period

Yes, borrowers can request for reversal thru its Agency

Yes, borrowers are encouraged to utilize the eBanking (MBA or IAccess) facilities of LBP for their loan payment

No penalty will be charged during the grace period

Yes, loan renewal may be granted during and after the moratorium provided borrower must have paid at least one (1) loan amortization.

  • Those enrolled in iAccess
  • Cardholders whose accounts are in current status

(For updating of account, cardholders may call Customer Care Center Hotline (+632) 8-405-7000 or PLDT Domestic Toll Free Number 1-800-10-405-7000)

Use your LANDBANK iAccess username and password

  • Principal cardholders
  • Account is automatically registered if activation is done via MBA

Card activation is allowed for both principal and supplementary cards

The LANDBANK’s ACcess to Academic Development to Empower Masses towards Endless Opportunities or simple the ACADEME Lending Program is the Bank’s New Credit Facility for the private education sector. The program provides credit fund to private/non-DepEd, private TechnicalVocational and Education Training (TVET) Institutions, private Higher Education Institutions(HEIs)such as colleges and universities in providing continuing education to their students under the enroll now pay later scheme.

The borrowers under the program are learning institutions from the private sector. This includes the following:

  • Private/Non-DepEd Junior/Senior High Schools with permit to operate byDepEd
  •  Private Technical-Vocational and Education Training (TVET) Institutions in partnership with and being regulated by the Technical Education and Skills Development Authority (TESDA)
  • Private Higher Education Institutions (HEIs) such as Colleges and Universities with undergraduate programs authorized by Philippine Commission on Higher Education (CHED) and the HEIs should be accredited by any of the following:
  1. Philippine Accrediting Association of Schools, Colleges and Universities (PAASCU);
  2. Philippine Association of Colleges and Universities’ Commission on Accreditation (PACUCOA);
  3. Association of Christian Schools, Colleges and Universities Accrediting Association Inc. (ACSCU-AAI); or
  4. Federation of Accrediting Agencies of the Philippines (FAAP)

Students are not the direct borrowers of the program. Students will directly apply to the schools. LANDBANK, in turn, will refinance these loans of the schools.

The Bank will only finance Promissory Notes (PNs) issued by the parents/benefactors of the students for them to be able to enroll to their school on credit. Purposes such as construction of building, expansion are not included to be financed under the program. This program is a term loan rediscounting facility intended to re-finance PNs of the students to schools.

The program will only be offered for a specific period of time. This will only be offered to schools from May 5, 2020 to June 30, 2021 only.

The program has a very low interest rate of 3% per annum. This 3% will be imposed to the borrowingschools only. Schools must not pass this rate to students. Schools must offer the loan program to its students at 0% interest rate

Loans under the program will have maturity that coincides or is co-terminus with their sub-borrowers PNs but will not exceed 3 years. In case of varied maturity dates of the sub-PNs, borrowing-school’s PN maturity date will be the earliest due date of sub-PNs per batch. Borrowing school’s PN may be paid monthly, quarterly or lump sum.

The schools will set and implement their own guidelines such as requirements, eligibility, repayment and processesto theirsub-borrowers. The Bank did not impose any restrictionsfor the sub-borrowers. This will depend on the borrowing school

If you are an interested student, you may directly inquire on your current school or your school of choice if they will avail of LANDBANK’s credit program, or will offer tuition fee assistance through provision of loan during admission. For interested new borrowers, you may visit the nearest LANDBANK Lending Center in your area.

Click here to search for the nearest LANDBANK Lending Center near you.

You may also contact the following LANDBANK Head Office Lending Units and Lending Support Units:

UNIT CONTACT PERSON EMAIL ADDRESS
Micro Finance Iintitution Department DM Leonardo Aurellana LAURELLANA@mail.landbank.com
SME-Mid Market Lending Department I AVP Joji D. Flores JFLORES@mail.landbank.com
SME-Mid Market Lending Department II AVP Danilo D. Dayanghirang DDAYANGHIRANG@mail.landbank.com
PMD I AVP Edgardo S. Luzano ELUZANO@mail.landbank.com
PMD II AVP Generoso S. David GDAVID@mail.landbank.com
EPMD AVP Prudencio E. Calado III PCALADO@mail.landbank.com
FSD DM Margarita C. Cabrera MCABRERA@mail.landbank.com
DAD DM Lolita S. Huerto LHUERTO@mail.landbank.com
LSD AVP Teresita SP. Aringo TARINGO@mail.landbank.com

 

The turn-around time in loan processing is normally 45 days from the time of complete submission of documents. However, the actual turn-around time is dependent to the amount of loan applied for and to the complexity of the project or loan purpose to finance. It could be a lot shorter for small loan amounts and for simple project or loan purpose to finance.

The pre-processing requirements are:

  1. Masterlist of sub-PNs to be assigned;
  2. DepEd or CHED’s Permit to Operate as an education institution;
  3. SEC-certified Registration Papers;
  4. List of Major Owners and Officers with their official designation in the Institution with their personal data and 2x2 ID pictures;
  5. Board Resolution authorizing the school’s representative to obtain, negotiate, mortgage, sign and enter into a loan agreement with LANDBANK;
  6. Audited BIR-filed F/S for the past 3 years plus the interim F/S.

Collateral may be required for the program. Full collateral cover may not be required, however, provided that the borrower can demonstrate sufficient cash flow to repay their loan with the Bank. The following are the acceptable collateral the Bank can accept: Any or combination of the following:

  • •REM, CM
  • Deposit Hold Out or Continuing Assignment of Peso and/or Dollar/Time Deposits or Long-Term Time Deposits that match the term of the loan
  • Other collateral acceptable to the Bank

The ACADEME Lending Program is a lending program for the private education providers. The borrowing schools will be the one to set their own parameters, requirements, repayment options for their sub-borrowers. Sub-borrowers, on the other hand, must execute a Promissory Note (PN), stating the amount of loan to be applied to the schools and when will they be able to pay the loan and on what terms, to the schools. LANDBANK will provide schools copy of standard Promissory Note (PN) to be used when students will apply for a loan. As part of the requirements, borrowing schools must submit a masterlist of the sub-PNs they financed.

Repayment of the loan by the students/parents/benefactors will depend on how the schools will outline their own loan program. The schools may have the option for a staggered or lump sum repayment. It may be payable monthly until full payment of the loan, or it may be paid in full on or before the maturity date stated in the PN issued by the student/parents/benefactors. The students/parents/benefactors will pay directly to the schools, as the schools are the ones who granted them the loan

I-STUDY (Interim Students’ Loan for Tuition towards Upliftment of Education for the Development of the Youth) Lending Program provides financial assistance that would enable the parents/benefactors to send their students to school but are having difficulty owed to adverse effect of the pandemic in their jobs/businesses.

The Bank allocated an initial fund of P1.5 Billion from its internal funds.

The eligible borrowers are the parents, guardians or benefactors.

In order to avail of the program, the following eligibility criteria should be met:

a. For Parents:

  1. Filipino Citizen of legal age and with established repayment capacity;
  2. A co-borrower shall be required if the principal borrower is more than 60 years old and/or with no established repayment capacity;
  3. Must have established credit history and good credit standing. The LC shall check the borrower’s historical 2 months of cards payments/billings, utility billings if updated prior to Covid 19;
  4. Must be a permanent resident/has resided with minimum 2 years in area of residence; and
  5. Must have a combined monthly net take home pay (after loan amortization) of P20,000 per enrolled student.

b. For Co-borrowers:

  1. Not be more than 60 years old and Filipino Citizen;
  2. With good credit standing and must have established repayment capacity, as evidenced by Certificate of Employment, Employment Contract (if employed), Business permit (if Self-employed), among others; and
  3. Must be a permanent resident/has resided with minimum 2 years in area of residence.

c. For Students:

  1. Filipino Citizen;
  2. Not over 30 years old at the time of application;
  3. Incoming student who are qualified under the admission and retention requirements of school or technical vocational institutions recognized/accredited by CHED/TESDA/DepEd;
  4. Not a current beneficiary of the Universal Access for Quality Tertiary Education Act of 2017 (R.A. 10931) or any scholarship program or of any privilege having free tuition fees as honor student; and
  5. Of good moral character as certified by school.

The eligible loan purpose is to finance tuition/enrolment-related fees of the students.

The loan will be released in lump sum and to be credited directly to the account of the school.

The school by which the student would like to enroll should have a Memorandum of Agreement (MOA) with the Bank.

The borrowers can avail loans from the Program up to SY 2021 – 2022.

The credit facilities that are available under the Program are:

a. Short Term Loan for pre-school, primary and secondary education; and

b. Term Loan for tertiary education

The maximum loan amount shall be the equivalent of 1 school year/2 semesters, or, P150,000 per student but not more than P300,000 per borrower and which shall be based on the submitted school-issued Enrolment Assessment Form/Registration Form with Schedule of Assessed Enrolment Fees.

The interest rate is five percent (5%) per annum, fixed for the entire term of the loan.

The loans can be paid as follows:

a. For Short-term loan, it is payable within 1 year via 360 day PN; and

b. For Term Loan, it is payable up to maximum of 3 years inclusive of 1 year race period on the principal.

a. For the Short Term Loan, the principal and Interest shall be payable on maturity date of the PN.

 

b. For the Term Loan:

1) Interest shall be payable quarterly during the grace period; and

2) Equal monthly amortization (principal plus interest) after the 1-year grace period.

The Bank will not require collateral for the loan. However, the borrower is given the option to any of the following:

a. Issuance of PDCs for the scheduled loan repayments: or

b. Credit Life Insurance up to the extent of the loan obligation

a. For Parents, guardians/benefactors/co-borrower

1) Duly accomplished loan application Form

2) For salaried individuals:

• Certificate of Employment/Contract of Employment;

• Copy of 3 months latest pay slip;

• Latest BIR-filed Income Tax return

3) For self-employed:

• Copy of Business Permit;

• Latest BIR filed Income Tax Return

4) Valid Government-issued ID

5) Proof of billing address and payment record from at least 2 utility/service companies

b. For Students

1) Admission slip/Enrollment Form with Student ID issued by an education institution or technical vocational institution (for incoming student) or proof of enrollment (present or latest enrollment or registration form for continuing student);

2) Form 138/Certified True Copy of Grades during previous semester attended;

3) Certificate of Good Moral Character from the dean/guidance counselor or any authorized personnel from the school;

4) Schedule of payment of school fees and other enrolment related expenses for the subject school semester or school year, as the case maybe, duly certified by the registrar or authorized personnel of the educational institution.

In order for the Bank to release the loan proceeds, the following should be followed/submitted:

    1. Opening of Landbank’s deposit account by the borrower where repayment of the loan shall be debited;
    2. Certificate of completion of academic requirements duly certified by the registrar or equivalent from previous school year or previous semester;
    3. Schedule of payment of school fees and other enrolment related fees for the current term duly certified by the registrar or authorized personnel of the institution;
    4. Duly received by the school the Authority for LBP to receive copies of documents from school related to the student’s records; and
    5. The borrower shall give its consent to disclose credit information to other banks, financial institutions, the Banker’s Association of the Philippines Credit Bureau (BAP-CB) and other credit bureaus or institutions.

A borrower can file its loan application to the nearest LBP Provincial Lending Center or Head Office Lending Unit.

The Restoration and Invigoration Package for a Self-sufficient Economy towards Upgrowth for LGUs or RISE UP LGUs is a new lending program which is being available by LANDBANK for Local Government Units to support them in the implementation of economic recovery plan aimed reviving the local economy in the aftermath of the COVID-19 pandemic.

LANDBANK has earmarked an initial Php 10.0 Billion fund to provide credit assistance to eligible LGUs to finance their plans, programs and activities to bring back the confidence of its constituents in the local economy to be able to foster regional and local development.

The program shall be implemented nationwide and will run for a period of five (5) years or until June 2025.

Eligible to borrow are” (1) Provincial, (2) City and (3) Municipal LGUs which has passed the standard risk asset acceptance criteria/eligibility criteria of the Bank for LGUs.

LGUs may borrow for:

  1. 1. Permanent working capital such as but not limited to purchase of agricultural produce from its local farmers/constituents;
  2.  
  3. 2. Acquisition of equipment and construction of facilities for linking of products to the market such as market infrastructure development and/or improvement ((e.g., farmers’ market, new or expansion of wholesale markets), mobile palengke, collection and buying stations, and related facilities; and
  4.  
  5. 3. Other programs and projects of the LGU that provide basic and support services, social welfare and healthcare, and other infrastructure activities (e.g., construction of additional building to accommodate COVID-19 patients and persons under investigation/monitoring), that aim to bring back confidence of the people and spur the local economy/businesses.

Depending on the requirement of the LGU provided that the total loan exposure (including the proposed loan under the program) shall not be more than its Net Borrowing Capacity (NBC) per Bureau of Local Government Finance (BLGF) computation/certification

The credit facility will be offered at an interest rate of 4.5% per annum, fixed for the first year, regardless of he credit rating of the borrower, and subject to annual repricing thereafter based on the Bank’s prevailing interest rate.

In the event however, that external funds that may be provided by law as part of the economic stimulus package, interest rate shall be as prescribed under said legislation.

  • For Permanent Working Capital, period shall be three (3) years, payable monthly, quarterly, semi-annually or annually.
  • For Term Loans:
    • for acquisition of machineries/equipment and construction/rehabilitation of facilities, up to ten (10) years but not longer than the economic useful life of the asset payable monthly, quarterly, semi-annually or annually
    • for other purposes, term shall be based on the LGU’s cash flow payable monthly, quarterly, semi-annually or annually.
  • For these purposes, other LGU projects (existing or in the pipeline) that will affect the NBC shall be considered in the computation of the tenor.

A grace period may be granted up to one (1) year on principal payment.

A penalty rate of 24% per annum shall be charged in case of non-payment, to commence on the day immediately after the due date of loan amortization/credit accommodation up to the date of settlement.

Standard fees and charges shall apply except for handling, commitment, and pre-payment fees which shall be waived.

A 2% pre-payment fee shall be charged on the principal loan to be pre-paid, if the loan is taken out by another bank/financial institution.

To apply for and avail of the loan, LGUs need to submit documentary requirements:

Minimum Documentary Requirements:

  1. Sangguniang Resolution
  2. Ordinance approving the Local Development Plan/Annual Investment Program/Supplemental Investment Program
  3. Seal of Good Housekeeping, except for LGUs with credit ratings of Prime and High Grade
  4. Latest BLGF Certification of Net Borrowing Capacity
  5. Monetary Board Opinion
  6. Annual certification from the Budget Officers, Accountant and Treasurer on availability of proposed sources of repayment
  7. Joint Certification by the Bids and Awards Committee (BAC) Chair and by the LCE on compliance with RA 9184 and to COA rules and regulations
  8. Promissory Note with Deed Assignment of IRA

 

For purposes of BSP Implementation of Section 4(uu) of the BARO Act, it shall cover all BSP-Supervised Financial Institutions (BSFIs) with lending operations. These shall include banks, quasi-banks, non-stock savings and loan associations, credit card issuers, trust departments/corporations, pawnshops, and other credit granting entities under the supervision of the BSP.

BSFIs shall implement a non-extendible, mandatory one-time 60-day grace period for all existing, current, and outstanding loans with principal and/or interest, including amortizations, falling due from the effectivity of the BARO Act or from 15 September 2020 until 31 December 2020 without incurring interest on interests, penalties, fees, or other charges. The parties are, however, not precluded from mutually agreeing to a grace period longer than 60 days. 

Section 4(uu) of the BARO Act shall not apply to interbank loans and borrowings.

The 60-day grace period shall commence from the payment due date of loans with principal and/or interest, including amortizations, falling due from the effectivity of the BARO Act or from 15 September 2020 until 31 December 2020.

For example, the due date of a loan with monthly amortization falling due on 20 September shall be moved to 19 November. Following this example, if the last payment due date of said loan before the application of the mandatory grace period is on 20 September 2024, said last payment due date shall be moved to 19 November 2024.

The application of the mandatory 60-day grace period under the Act effectively moves the payment due dates of the entire loan.

The principal and accrued interest falling due from the effectivity of the Act until 31 December 2020 may be paid by the borrower in full after the application of the 60-day grace period. The borrower may also pay on a staggered basis until 31 December 2020. Likewise, the parties may agree to pay the principal interest on staggered basis beyond 31 December 2020. For this purpose, accrued interest shall refer to interest that is due on the outstanding principal obligation but has not been paid yet by the borrower since the last loan payment made.

Yes. Borrowers may opt to apply the mandatory one-time grace period to any of his amortizations falling due on or before 31 December 2020.

Yes. Borrowers may choose not to avail of the mandatory grace period and their obligations as they fall due should they so desire.

Do BFIs need to issue new Promissory Notes (PN)/Disclosure statements (DS) for the new amortization schedule?

Yes. The amortizations for the payments falling due from 15 September 2020 will be rescheduled. The application of the mandatory 60-day grace period under the BARO Act effectively moves the payment due dates of the entire loan. The BSFI shall document the movement of the payment due dates as it deems proper.

No. Section 4(uu) of the BARO Act applies only to loans extended by BSFIs established in the Philippines.

Yes, the loans will still be covered by the mandatory grace period under the BARO Act notwithstanding the execution by the borrower of a waiver prior to the issuance of Section 4(uu) of the said Act. Any waiver previously executed by borrowers covering loan payments falling due on or before 31 December 2020 shall be considered void. Nonetheless, borrowers may still choose to pay their obligations as they fall due on or before 31 December 2020.

No. Section 4(uu) of the BARO Act only covers loan accounts that are existing, current, and outstanding as of 15 September 2020. Past due accounts are not covered under Section 4 of the said Act. For this purpose, "existing" loans shall refer to loans granted, or transactions (e.g., purchases, cash advances, balance, transfers) made using credit cards, prior to 15 September 2020. 

Yes. It shall apply to existing, current, and outstanding loans of the said borrower as of 15 September 2020. The past due account will not be covered by the mandatory grace period.

Yes, if the loan accounts that benefitted from the mandatory grace period under Bayanihan I are existing, current, and outstanding as of 15 September 2020. Section 4(uu) of the BARO Act shall be treated independent of the Bayanihan I provisions.

Loan accounts that were restructured before 15 September 2020 shall be covered if such accounts are considered as current performing as of 15 September 2020

Yes. Loans classified as current before 15 September 2020 with grace period that extends beyond said date shall be covered.

No. The grace period will only reckon from the time the loan with principal and/or interest, including amortization, payment falls due from 15 September 2020 until 31 December 2020.

Yes, it shall apply to payments for said facilities that will fall due from 15 September 2020 until 31 December 2020.

Yes. It covers all types of loans that are existing, current, and outstanding as of 15 September 2020.

The mandatory grace period shall apply to DOSRI transactions with payments falling due from 15 September until 31 December 2020. No penalty/sanction shall be imposed on such DOSRI transactions when payment is made on the new due date following the application of the mandatory grace period.

Yes. It covers loan accounts with issued post-dated checks and those with auto debit or auto deduct arrangements. In this case, for loan accounts with issued post-dated checks, and those with auto debit or auto deduct arrangements, the BSFIs shall communicate with their clients and secure their consent to proceed with the transaction or arrangement. BSFIs shall give their clients ample time to respond to the request for consent with a disclosure that they will proceed with the transaction or arrangement if no feedback is received within the given period. This shall, however, not preclude the borrower from applying the mandatory one-time grace period to succeeding payments falling due on or before 31 December 2020.

BSFIs shall communicate with their clients and secure their consent to apply the mandatory one-time grace period on the next installment due date. BSFIs shall give their clients ample time to respond to the request for consent with a disclosure that they will proceed with the proposed arrangement if no feedback has been received within the given period. In cases where the borrowers would signify the implementation of the mandatory one-time grace period for the payment received by the BSFI, the BSFI shall return the payment received to the borrower without charging interest on interest, penalties, fees and charges.

- Yes. Fees and charges related to loans extended or credit lines granted are covered by the mandatory grace period under teh BARO ACt.

No. Banks are not required to request for application of the mandatory one-time 60-day grace period under the Act.

Covered financial institutions should use the interest rate stipulated in the loan agreement.

The mandatory one-time 60-day grace period will apply to all loans regardless of payment terms, as long as the due date falls on or before 31 December 2020. BSFIs will add 60 days to the due date falling from 15 September 2020 until 31 December 2020 to determine the new due date.

No. The accounts applying the mandatory one-time 60-day grace period will not be included in the PDL ratio computation. Likewise, BSFIs no longer need to apply for exclusion of the accounts in the computation of the PDL ratio.

No. The mandatory one-time 60-day grace period will automatically be applied by all BSFIs.

Credit card transactions made, including fees/ charges incurred, prior to 15 September 2020 shall be covered by the Act. Any unpaid balance of such transactions and fees/charges shall not incur interest or finance charges during the mandatory grace period. After the end of the applicable grace period, the said unpaid balance shall incur interest or finance charges if not paid in full on new due date.

Meanwhile, credit card transactions made on and after 15 September 2020 shall no longer be covered by the said Act and shall continue to incur interest or finance charges if not fully paid on or before its orginal due date.

Credit card transactors will not be charged any interest during the 60-day grace period if they pay the total oustanding balance on or before the new due date.

Np. Credit card transactions made on and after 15 September 2020 are not covered by the provisions of the Act.

In accordance with Executive Order No. 142 signed by President Rodrigo Roa Duterte, the merger between LANDBANK and UCPB has been endorsed by the Governance Commission for GOCCs, approved by Monetary Board of the Bangko Sentral ng Pilipinas, consented to by the Philippine Deposit Insurance Corporation, and approved by the Securities and Exchange Commission (SEC) pursuant to the Certificate of Approval of the Articles and Plan of Merger issued by the SEC.

UCPB shareholders approved the merger plan with LANDBANK during its stockholders’ meeting on December 14, 2021. The shareholders—representing 97.2% of UCPB’s total outstanding capital stock—voted in favor of the Plan of Merger and Articles of Merger between UCPB and LANDBANK. 

The move further advances the ongoing fusion of the two government banks into a unified and stronger institution for promoting inclusive and sustainable development.

Upon the effectivity of merger, the UCPB and its Board of Directors will cease to exist.

The legal merger between UCPB and LANDBANK will take effect on March 1, 2022.  

The UCPB will be merged into the Land Bank of the Philippines (LANDBANK) and once the legal merger is completed, it will take on the name of “Land Bank of the Philippines,” being the surviving entity. 

UCPB clients are assured that banking services will continue to be unhampered throughout the merger process, with deposits remaining intact and secured in their respective servicing branches.
 

All deposits and investments entrusted to UCPB will remain safe and secured. UCPB will continue to uphold and protect depositors' rights throughout the merger process. The services will also remain to be unhampered.

The merger will allow UCPB and its clients to benefit from the strength, stability, scale and reach of LANDBANK. UCPB will be a part of a bigger institution that caters to a wider base of clientele, including the other segments of the agricultural value chain.

LANDBANK will continue to provide personal and proactive service to UCPB clients and endeavor to make the transition seamless, including the processing of transactions.

During the transition and even after the merger is completed, LANDBANK will continue to serve all clients, including government agencies, and provide them with the same level of personal and proactive service.

The merger will be beneficial to existing UCPB clients because they can access the bigger branch and ATM networks of LANDBANK, and will be able to avail themselves of a wider range of products and services.

The UCPB account will be converted to an LANDBANK account.  LANDBANK will send letters or emails and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTD/checkbook, and other evidence of deposits.

No. UCPB clients are not required to fill-up LANDBANK account opening forms. However, they are encouraged to update their Client Information online (https://dobs.landbank.com/DOBS/home/applyNow) prior to visiting their LANDBANK Servicing Branch for the release of their ATM/passbook/CTD/checkbook, and other evidence of deposits for their new LANDBANK accounts.

Yes. The UCPB account numbers will be converted and migrated to LANDBANK account numbers based on the equivalent type of account.

UCPB clients’ issued checks for loan payments will be accommodated for a certain period. They will be notified up to when the checks will be accommodated and should there be a need to issue new checks. 

LANDBANK and UCPB shall communicate with the institutional clients/employers to discuss and execute the needed Memorandum of Agreement. The UCPB payroll account will be converted and migrated to the LANDBANK payroll account. 

LANDBANK will send letters or emails notifications and text messages to the clients about the migration to inform them where and when to claim their new ATM card.
 

The UCPB CheckStarter Account will be converted to LANDBANK regular checking account. LANDBANK maintaining balance and minimum required ADB for a regular checking account is P5,000.00 for individual clients and P10,000.00 for institutional clients. A service fee of P200.00 will be charged for checking accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.

The UCPB Start2Save Account will be converted to LANDBANK regular ATM savings account. However, LANDBANK passbook will no longer be issued to account holders. LANDBANK maintaining balance and minimum ADB requirement for an LANDBANK regular ATM savings account is P500.00. A service fee of P200.00 will be charged for savings accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.

The UCPB Multi-One Account will be converted to LBP Peso E.A.S.Y. (Earning Access and Sure Yield) Check with ATM Access Account. However, LBP passbook will no longer be issued to account holders.  LBP maintaining balance and minimum ADB requirement for this account is P10,000.00. A service fee of P200.00 will be charged for checking accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.

The UCPB Regular Savings Account with ATM and Passbook will be converted to LANDBANK Regular Passbook Savings Account. However, LANDBANK ATM card will no longer be issued to account holders.  LANDBANK maintaining balance and minimum ADB requirement for this account is P10,000.00.  A service fee of P200.00 will be charged for savings accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter. 

Clients may opt to open a separate LANDBANK ATM savings account with a maintaining balance and minimum ADB requirement of P500.00.

UCPB clients are assured that they will be provided with excellent LANDBANK customer service and access to all LANDBANK products and services and e-banking channels, with extensive touchpoints of 489 branches and branch-lite units, and 58 lending centers nationwide.

The charges for cash withdrawals of UCPB cardholders at LANDBANK ATMs will still apply. However, once the UCPB accounts are converted/migrated to LANDBANK, withdrawals using the new LANDBANK ATM cards will be free of charge at LANDBANK ATMs.

UCPB salary loans will be retained with its original terms and conditions until its maturity date.  Upon renewal of salary loan, LANDBANK existing loan terms and conditions and policies will be applied.

The UCPB pension account will be converted to LANDBANK pension account. Pensioners must comply with the new pension account reporting to their respective Agency (i.e. SSS, AFP, PVAO, etc.)  to avoid delay in crediting of monthly pension.

The UCPB deposit and loan accounts will be converted to LANDBANK deposit and loan accounts. LANDBANK will send letters, email notifications and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTDs/checkbooks and other evidence of deposits upon return from abroad. 

However, clients who are abroad can contact their LANDBANK servicing branch (www.landbank.com/find-us) and are encouraged to update their account information using the LANDBANK DOBS Online.
 

UCPB Retail Online Banking will be migrated to the LANDBANK system. For initial log-in, clients must use their UCPB user ID. A default password will be used but will be required to change upon initial log-in to the LANDBANK's retail internet banking facility. 

For UCPB Institutional Internet Banking (i.e. CMBiz, BIR ETPS, ePayment Portal), this will be manually enrolled using the existing enrollment forms submitted by the institutions to UCPB.
 

UCPB clients with Third Currency Accounts may still transact with their UCPB Branch of Account until the official merger takes effect on March 1, 2022. After which, the clients will be advised to convert their account to a peso or dollar account at LANDBANK.

Deposit pick-up services will continue and will not be hampered upon merger. However, all DPU arrangements will be subject for evaluation/review six (6) months from the conversion of the servicing branch, based on existing LANDBANK parameters.

UCPB clients will still be able to use their SDB. However, all SDB arrangements will be subject for evaluation/review six (6) months from the conversion of the servicing branch, based on existing LANDBANK parameters.  UCPB clients with SDB arrangements at UCPB branch which will be closed/merged with LANDBANK branch will be notified and referred to the nearest LANDBANK branch with SDB facilities.

LANDBANK has a wide array of LANDBANK products and services to suit its customers’ banking needs which are available in all 489 LANDBANK branches and branch-lite units nationwide and 58 lending centers, and through e-banking channels. 

For the list of LANDBANK deposit products and services, the clients may visit the LANDBANK website at www.landbank.com.
 

UCPB institutional clients will be enrolled in LANDBANK’s ETPS using the submitted forms to UCPB by the institutions.

Yes. Some UCPB branches will be merged with existing nearest LANDBANK branches. An official list of branches that will be retained/merged/closed, with their new branch name, address and contact details, will be announced to the public.

Pag-IBIG contributions are available in LANDBANK Corporate Internet Banking Facility—the weAccess. If currently enrolled in UCPB’s CM.Biz, LANDBANK will use the submitted form of the institution to UCPB for the enrollment to the Pag-IBIG bills payment module via the LANDBANK weAccess facility.

Yes. UCPB clients can still use the checkbooks on hand until the conversion of UCPB servicing branches to LANDBANK. All clients will be issued with LANDBANK checkbooks once their current accounts are converted to LANDBANK. Absorbing LANDBANK branches shall coordinate with UCPB current account holders for the immediate issuance of new LANDBANK checkbooks.

Yes. Existing UCPB Cash Cards can still be used for HDMF loan availments until new LANDBANK cash cards are issued as replacement by the HDMF.

Yes. LANDBANK will continue to provide this feature. The bank statement in the MT940/MCF may be downloaded using the LANDBANK weAccess.

UCPB clients may still use the auto-charge facility until the conversion of UCPB servicing branches to LANDBANK. Once migrated, clients may enroll in the LANDBANK iAccess and Mobile Banking App for bills payment.

Consumer loans, loan facilities, contracts and agreements:

All will continue to be maintained, honored and implemented. Clients will be advised accordingly if there will be changes in the future. 

Home or auto loan of the second owners of the properties:

Existing terms and conditions of the transferred loan accounts will be honored by LANDBANK. 

Interest rate

The interest rate will remain the same. 

Credit insurance

Coverage of the insurance will continue until further notice. 

Automatic Debit Arrangement (ADA)

The ADA for consumer loan payments will continue to be processed. Clients will be advised accordingly if there will be changes in the future. 

Payments for loan amortization 

Payments for loan amortization should still be coursed through the former servicing UCPB branch of account, which will be renamed as a LANDBANK branch. Clients will be advised accordingly if there will be changes in the future.
 

It will be processed and documented with LANDBANK as the lender.

The loan requests will be processed through the usual procedures of LANDBANK. 

Yes, they can still issue checks against their UCPB checking account. UCPB checks issued by the UCPB borrowers shall be honored and transacted within two (2) years from the legal merger.

Upon the legal merger, the client’s existing treasury investments with UCPB will be transferred and mainstreamed to LANDBANK who will handle and manage the investment. The client’s existing investment settlement account with UCPB will eventually be migrated to a LANDBANK deposit account. The branch account representative will be coordinating with the client once his/her LANDBANK account number is created.

Upon legal merger, the clients need to visit any LANDBANK branch if they are willing and interested to place new treasury investments. They will be required to open a settlement account and submit all the required documents or they may opt to use their existing UCPB settlement account that was transferred/migrated to LANDBANK deposit accounts and a new LANDBANK account number has already been created.

Prior to the legal merger, all UCPB fixed income investors shall continue to be serviced by the UCPB Fixed Income Sales Department (FISD). After the legal merger, all investors have to get in touch with the assigned Treasury Sales Officer of the LANDBANK Treasury Brokering and Marketing Unit (TBMU) for the needed services and assistance.

This depends on the type of investment of the client.

•    For Government Securities (GS), they will be issued a Confirmation of Sale (COS) indicating that no certificates are issued to the investors because ownership of GS are recorded in the Bureau of Treasury’s National Registry of Scripless Securities (NRoSS) under the investor’s name.

•    For Corporate Securities (CS), a Registry Confirmation (RC) coming from the third party-custodian like PDTC will be issued to the investor.
 

UCPB fixed income treasury clients have the option either to pre-terminate or sell their existing investment before the merger or just maintain it, which will form part of the investment accounts that will be transferred by UCPB to LANDBANK upon the legal merger.

Once transferred, all new placements/pre-termination/selling in the secondary market and the like shall be handled by LANDBANK TBMU.
 

For purposes of complying with the necessary requirements of regulators as a result of the merger, some documentary requirements need to be updated/submitted (e.g. Client Suitability Assessment, BTRs Investors Undertaking and SPA/Authorization, Client Agreement, and others).

Upon legal merger, all documentary requirements of UCPB fixed income clients shall be transferred and safe kept by LANDBANK. Any lacking documents as required shall be requested from the client and shall be submitted to LANDBANK by the client.
 

Yes. Any UCPB clients can already invest thru LANDBANK even before the legal merger. The client or UCPB FISD can contact LANDBANK TBMU for assistance. The client will be treated as a new client/investor and will be required to comply with the requirements (e.g. LANDBANK investment settlement account and documentary requirements). 

The investment transaction will be recorded/booked in the LANDBANK’s Integrated Treasury System (ITS) and shall not form part of the UCPB Investment Accounts that will be transferred/mainstreamed to LANDBANK upon the legal merger. 
 

Since all investors will be required to open an account that will be designated as their settlement account for their planned investments, all would-be investors/clients need to visit any LANDBANK branch near their area. The concerned LANDBANK Branch will be their designated servicing branch and all proceeds from their investments (e.g. coupon payments and principal) will be credited to their settlement account. 

Also, all documentary requirements and other concerns will be coursed thru their LANDBANK servicing branch for verification and endorsement to LANDBANK TBMU for the necessary assistance and services. 
 

The client’s existing settlement account with UCPB will eventually be migrated to a LANDBANK deposit account. The clients’ branch of account representative will be coordinating with them once their LANDBANK account number has been created.

The client may proceed to their branch of account or get in touch with their account officer for their FX requirements. Further, they need to accomplish the necessary forms and submit these together with supporting documents, if necessary.

LANDBANK offers FX spot (value today or same day settlement) to existing depositors.

Generally, the LANDBANK Investment Banking Group (IBG) will substitute for UCPB in the transaction, subject to the consent of, and agreement by both LANDBANK and the client. Fortunately, the existing transactions of UCPB also involve LANDBANK; thus, continuity is assured and there will be a turnover arrangement between the two banks.

All UCPB trust accounts shall be transferred to LANDBANK once the merger is implemented.

Pending the effectivity of the merger, the management of UCPB accounts and their respective investments will continue to be handled by UCPB-Trust. On the other hand, LANDBANK Trust accounts will not be affected by the merger activities.

LANDBANK-Trust and UCPB-Trust will work together in providing unhampered trust services to their clients for a smooth and successful transition.
 

Both UCPB and LANDBANK trust clients can take advantage of the economies of scale when it comes to their investments. 

An increase in Assets Under Management (AUM) may mean that trading cost per peso is lower while potentially higher returns and interest rates may be realized due to the higher volume.

Trust clients will also benefit from the wider reach of LANDBANK through its branches responding to trust account concerns. 
 

LANDBANK-Trust’s organizational structure, policies, and processes shall be applied and retained.

No, UCPB trust accounts will not be closed because of the merger. These accounts will be transferred to LANDBANK-Trust.

Transactions relative to the client’s account with UCPB-Trust will be unimpeded and will be accessible through UCPB’s channels until further notice.
 

No. Clients do not need to withdraw/redeem their investment/s with UCPB or with LANDBANK because of the merger. 

Investment activities will remain and continue as long as clients will not withdraw/redeem or close their trust account. 
 

Yes, all clients’ information must be updated in compliance with the Bangko Sentral ng Pilipinas – Manual of Regulations for Banks (BSP-MORB).  Clients should communicate with UCPB-Trust for the updating of their account’s information and other documentary requirements.

Once the merger takes effect and trust accounts have been transferred, existing documentary requirements of UCPB trust clients will be kept and recorded by LANDBANK-Trust. Any lacking documentary requirement shall be submitted to LANDBANK-Trust.
 

Once the merger is completed and trust accounts are migrated to LANDBANK, the LANDBANK Trust Account Management Department (TrAMD) will manage, maintain, and service the UCPB trust accounts. Clients or trust accounts will be assigned a new trust account officer/team. 

UCPB trust accounts will be managed according to the standards set under applicable BSP rules and regulations.
 

The provisions of the existing agreements involving UCPB-Trust accounts relating to their trust fees will continue to be observed.

Once the merger takes effect, the trust fees of migrated accounts will be reviewed and aligned/revised, if needed. 

Any changes in the fee structure will be relayed to trust clients for review and approval.
 

New settlement accounts will be opened with LANDBANK upon the migration of UCPB trust accounts. 

All clients will be informed accordingly of the details of their new settlement account once available.
 

For redemption of investments or withdrawal of clients, they may seek assistance with UCPB-Trust or with any UCPB branch. 

Until the merger’s is effectivity date, withdrawals or redemption of investments will continue to be processed by UCPB-Trust.
 

The client may contact UCPB-Trust or any UCPB branch for assistance in opening a UCPB trust account. Until the effectivity of the merger, trust transactions will continue to be processed by UCPB-Trust.

Not yet.  UCPB UITFs will need to undergo product assessment once the merger is implemented. Availability of the said products in the LANDBANK MBA will be part of the assessment.