LANDBANK launches ’PISO’ account for unbanked Filipinos

 

The Land Bank of the Philippines (LANDBANK) offers a new product to help bring more unbanked and underserved Filipinos—including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers—into the country’s formal banking system.

Through the LANDBANK “Perang Inimpok Savings Option” or PISO account, interested customers can open a LANDBANK deposit account with only P1.00 as minimum initial deposit and up to a maximum of P50,000 account balance.

The depositor is only required to submit one (1) valid identification card or any Barangay certification, clearance, or ID for verification.

The LANDBANK PISO account is being offered to individuals without an existing LANDBANK deposit account and have no capacity to open a regular deposit savings account with higher initial deposit and maintaining balance requirements.

“The LANDBANK PISO is another testament of our commitment to advance the National Government’s financial inclusion agenda. We continue to develop accessible and convenient banking products relevant to the diverse needs of our customers, including the unbanked and underserved,” said LANDBANK President and CEO Cecilia C. Borromeo.

With the LANDBANK PISO, accountholders can access the Bank’s array of digital banking channels such as the iAccess, Link.BizPortal, and the Mobile Banking App for fund transfer, bills payment, and balance inquiry services.

Accountholders can also use the PISO account in any LANDBANK, BancNet, and 7-Eleven Automated Teller Machines (ATMs), domestic Point-of-Sale (POS) terminals, and for over-the-counter transactions in their respective LANDBANK branch of account.

Interested individuals may go to the nearest LANDBANK Branch in their area to open a LANDBANK PISO account.

LANDBANK remains to be the only bank present in all of the country’s 81 provinces. As of 30 June 2022, the state-run Bank operates 608 branches; 2,847 ATMs; and 233 Cash Deposit Machines nationwide.