Regular Current Account

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

  • Existing depositors of good standing
  • New depositors with referral from LANDBANK officers or from known and valued clients of the bank

Institutional

  • Government Line Agencies, Government-Owned and -Controlled Corporations (GOCCs), and Local Government Units (LGUs)
  • Reputable private corporations, cooperatives, partnerships and associations

FEATURES

 

INDIVIDUAL

INSTITUTIONAL

Minimum Initial Deposit

P5,000

P10,000

Required Minimum Monthly ADB

P5,000

P10,000

Fee for Falling Below the Required Monthly ADB

P200/month

P200 /month

Closing Fee1

P300

Effectivity Date: Dec. 1, 2017

P300

Effectivity Date: Dec. 1, 2017

Dormancy Fee2

P30.00/month

Effectivity Date: April 24, 2017

P30.00/month

Effectivity Date: April 24, 2017

Documentation3

Checkbook

Checkbook

 1 If closed within 30 days from opening date.
 2 Accounts with no deposit/withdrawal transactions for one (1) year and falling below  the required ADB.
 3 Upon closure, all unused checks will be returned to the branch where the account is maintained.

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

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 REQUIREMENTS

Individuals

  1. At least two (2) valid IDs such as:

    • 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
  1. Duly notarized Board resolution incorporating the following:
  1. Authority to open bank account with LANDBANK
  2. Designated Officers authorized to sign and the nature and extent of such authority