LANDBANK reminds all clients to regularly monitor their deposit accounts to avoid dormancy and ensure proper succession planning. In line with banking regulations and the Unclaimed Balances Act (Act No. 3936), we urge the public to take note of the following:

1.  Check for Dormant Accounts

a.  Accounts become dormant when it is not being used or remain inactive:     

•  Savings accounts: after 2 years
•  Checking accounts: after 1 year
 

b.  Dormant accounts may incur service charges and, if left unclaimed for 10 years, may be subject to escheatment—where funds are directly transferred to the National Treasury.

c.  To reactivate a dormant account, visit your LANDBANK branch and present the following documentary requirements:

•  Valid government-issued IDs
•  Proof of account ownership (e.g., passbook, ATM card)
•  For heirs or representatives: additional legal documents may be required.
 

2.  Guidance for Heirs of Deceased Depositors

Heirs may claim deposits of a deceased LANDBANK account holder by following these steps:

•  Notify LANDBANK immediately upon the depositor’s death. The account will be frozen to prevent unauthorized access.
•  Prepare required documents, including:

a.  Passbook/ATM/CTD
b.  Original or certified true copy of the Death Certificate of deceased LANDBANK account holder
c.  Valid IDs of the heirs claiming the deposits
d.  Proof of filiation or relationship (e.g., Marriage Certificate, Birth Certificate, Court Order granting letters testamentary or of administration)
e.  Documents pertaining to adjudication or partition of estate

i.  In case there is a will – Will and certified true copy of the order or probate court
ii.  In case there is no will:

•  If intestate proceedings have been filed in court – certified true copy of the order of probate court

•  If no intestate proceedings have been filed in court – Deed of Extrajudicial Settlement of Estate (if the deceased LANDBANK account holder has more than 1 heir) or Affidavit of Self- Adjudication (if there is only 1 heir), proof of filing the Deed of Extrajudicial Settlement of Estate or Affidavit of Self-Adjudication with relevant registry of deeds, proof of publication

f.  Estate Tax Clearance from the Bureau of Internal Revenue
g.  Other documents as may be required
 

•  Submit documents to the LANDBANK branch for verification and processing.
•  Claim funds once approved, either through withdrawal, transfer, or opening of new accounts.

Please note that joint accounts with “and” and “or” arrangements may be accessed by the surviving co-depositor, subject to estate tax on the deceased’s share.

We also encourage depositors to keep their bank account information updated to continue receiving advisories from LANDBANK.

For further assistance, contact our Customer Care at:

•  Trunkline: (02) 8-4057000
•  Email: customercare@landbank.com