Regular Peso E.A.S.Y. (Earning Access & Sure Yield) Check

An interest-bearing peso checking account (IBCA) 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

Reputable private corporations, cooperatives, partnerships and associations

FEATURES

INDIVIDUAL

INSTITUTIONAL

Minimum Initial Deposit

P10,000

P20,000

Required Minimum Monthly ADB

P10,000

P20,000

Required Daily Balance to Earn Interest 

P10,000

P20,000

Interest Rate (per annum)

0.10%

Effectivity Date: August 7, 2017

0.10%

Effectivity Date: August 7, 2017

Fee for Falling Below the Required Monthly ADB

P200/month

P200/month

Closing Fee1

P200

P200

Dormancy Fee2

P30.00/month

Effectivity Date: April 24, 2017

P30.00/month

Effectivity Date: April 24, 2017

Documentation3

Checkbook

Checkbook

Maximum Number of Check Issuances

No limit

No limit

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

OTHER FEES AND CHARGES

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 2 valid IDs*

  2. 1 x 1 ID picture

  3. TIN Number must be presented


* Valid IDs include SSS ID, GSIS ID, Driver’s License, Company ID (present), School ID, Passport, TIN ID, Postal ID, Phil Health ID, Marriage Contract (original copy), Major Credit Card, Membership Card of well-known associations and clubs, HMO ID, Senior Citizens Card.

Single Proprietorship

  1. Registration of Business name with Department of Trade and Industry

  2. City/Municipal Mayor’s Permit

  3. Application of Renewal of City/Municipal Mayor’s Permit/Old Registration

  4. Two valid IDs of authorized signatory/ies

Partnership

  1. Articles of Partnership

  2. Certification of Registration with Securities and Exchange Commission (SEC)

  3. Duly notarized Agreement on the extent of authority of each partner4. Two valid IDs of authorized signatory/ies

Corporation

  1. Articles of Incorporation

  2. Certificate of Registration with Securities and Exchange Commission

  3. Corporate By-Laws

  4. Duly notarized Board Resolution incorporating the following:

    1. Authority to open bank account with LBP

    2. Designated Officers authorized to deposit, withdraw, endorse or negotiate checks and other deal with the bank deposit and the nature and extent of such authority which should inform the By-Laws of said corporation

    3. Notarized List of incumbent Officers, Board of Directors and Stockholders

    4. Two valid IDs of authorized signatory/ies and Corporate Secretary

    5. Certificate of filing of By-Laws with SECf. Certificate of registration with appropriate agency

Association or Organization

  1. Certificate of registration with appropriate agency

  2. Constitution and By-Laws

  3. Association Agreement

  4. Duly notarized Board Resolution incorporating the following:

    1. Authority to open bank account with LBP

    2. Designated Officers authorized to sign and the nature and extent of such authority

Corporation in the Process of Incorporation

  1. Proposed Articles of Incorporation stating therein the name of Treasurer-in-Trust authorized to open an account with the Bank in behalf of the Corporation

  2. Duly notarized Secretary’s Certificate

  3. Duly notarized Treasurer’s Affidavit

  4. Two valid IDs of authorized signatory/ies

Government Entities

  1. Charter and/or Law creating the government corporation/agency/office

  2. Executive Order or Department Order creating the government agency

  3. Duly notarized Board resolution incorporating the following:

    1. Authority to open bank account with LBP

    2. Designated Officers authorized to sign and the nature and extent of such authority

Cooperative

  1. Certificate of Registration with the Cooperative Development Authority

  2. Articles of Cooperation and By-Laws

  3. 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

 

 

BASIC REQUIREMENTS

 

Individual
  • 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:
 
a) The Branch shall retain a photocopy of the same duly authenticated by the NAC
 
b) 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 Proprietorship1. Certificate of Registration with the DTI
2. City/Municipal Mayor’s Permit
Partnership1. 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
  • Corporation in the process of incorporation
1. Proposed Articles of  Incorporation stating therein the name of  “Treasurer-in-Trust-For”  authorized to open an account with LANDBANK in behalf of the corporation
  • For Foreign Corporations, all of the following:
2. Duly notarized Secretary’s Certificate designating the “Treasurer-in-Trust For”
1. Articles of Incorporation and By-Laws
 
2. Resolution of the foreign corporation’s BODs or members authorizing the opening of a deposit account
 
3. Power of attorney of the corporation or its authorized signatory/ies  designating and empowering his resident agent/s or authorized representative/s to the Philippines
 
4. License to do business in the Philippines duly issued by SEC, if the foreign corporation is doing business in the Philippines
 
Note:
 
Items 1 & 2 shall be duly authenticated before a Consular Office of the Philippines and all documents written in a foreign language shall be translated in English.
  • For Joint Ventures/Consortiums, all of the following
1. Joint Venture Agreement
 
2. Articles of Incorporation and By-Laws of the corporations involved in the joint venture
 
3. If one of the corporations involved is a foreign corporation, necessary documents for opening of accounts for foreign corporation shall be followed/observed
Association/Organization and Government Units 
· For Association or Organization, all of the following:

1. Certificate of Registration with appropriate government agency

2. Constitution and By-Laws
 
3. Duly notarized Board Resolution containing the following:
 
1} Authority to open an account with LANDBANK
 
2} Officers authorized to sign and the nature and extent of such authority
 
3} Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
· For Cooperative, all of the following:1. Certificate of Registration with the Cooperative Development Authority
2. Constitution and By-Laws
 
3. Duly notarized Board Resolution containing the following:
 
1} Authority to open an account with LANDBANK
 
2} Officers authorized to sign and the nature and extent of such authority
 
3} Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
· For GLA, all of the following:1. Charter and/or law creating the government corporation/office/agency or E.O./Department Order creating the government entity
2. Duly notarized Board Resolution/LOA from Head of Agency incorporating the following:
 
1} Authority to open an account with LANDBANK
 
2} Officers authorized to sign and the nature and extent of such authority
 
3} Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
 
3. Resolution conforming with the Charter or law creating the government corporation/office/agency or the E.O. creating the government entity
· For LGU, all of the following:1. Duly notarized Resolution issued by the Sanggunian of LGU concerned incorporating the following:
1} Authority to open an account with LANDBANK
 
2} Officers authorized to sign and the nature and extent of such authority
 
3} Certification that such resolution remains effective and subsisting and has not been amended, revoked or superseded
 
2. In case of a temporary or permanent vacancy in the Office of the LGU Chief Executive or Local Treasurer, the following shall be required:
 
1} A new Sanggunian Resolution when the previous Sanggunian Resolution specifically indicates the name of the Local Chief Executive or Local Treasurer
 
If the general term “Chief Executive” and “Local Treasurer” of LGU was used in the Sanggunian Resolution in the opening of account, a certification from the DILG and BLGF on the assumption of the successor, respectively, shall be sufficient.
 
2} If there is a conflict on the assumption to a position and a Sanggunian Resolution cannot be secured, certification from the DILG on the assumption on the successor shall be required while, for the new treasurer, a certification from the BLGF.
 
3. As a rule, Charter and/or law creating the LGU shall not be required but if in doubt, the Branch may opt to require said documents.
· For Barangay, all of the following:1. Barangay Council Resolution stating its authorized signatories
2. List of Officers
 
3. Officers’ Oath of Office
 
4. In case of a temporary or permanent vacancy occurs, the following shall be required:
 
1} A new Barangay Resolution when the previous Barangay Resolution specifically indicates the name of the Local Chief Executive
 
If the general term “Barangay Chairperson” of LGU was used in the Barangay Resolution in the opening of account, a certification from the DILG on the assumption of the successor shall be sufficient.
 
2} If there is a conflict on the assumption to a position and a Barangay Resolution cannot be secured, a certification from the DILG on the assumption of the successor shall be required.
· For Unincorporated Units of the Government (i.e., for accounts opened for Public Officials for funds held in their official capacity) 1. Letter of intent to open a deposit account with the bank by the public official 
2. Duly Notarized SPA, in case a public official designates signatory/ies to the account or appoints representative/s to transact with the Bank in his behalf 
3. Valid photo-bearing ID and ID picture of the public official and representative

CONTACT UNITS

  1. LANDBANK Branches Nationwide
  2. Customer Care Center
    • NCR-405-7000
    • Toll free for non-NCR- 1800-10-405-7000