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LANDBANK launches 'PISO' for unbanked Filipinos

LANDBANK launches 'PISO' for unbanked Filipinos

LANDBANK launched a new product to bring more unbanked and underserved Filipinos into the country's formal banking system.

The Land Bank of the Philippines (LANDBANK) launched a new product to bring more unbanked and underserved Filipinos into the formal banking system, including students, PUV drivers, vendors, household helpers, farmers, and fishers.

Through the LANDBANK "Perang Inimpok Savings Option (PISO)," or PISO account, interested customers can open a LANDBANK deposit account with a P1.00 minimum initial deposit and a maximum account balance of P50,000.

The depositor must submit one (1) valid ID or Barangay certification, clearance, or ID for verification.

The PISO account is available to individuals who do not have an existing LANDBANK deposit account and are unable to open regular deposit savings account with a higher initial deposit and maintaining balance requirements.

Account holders can use the LANDBANK PISO to access the bank's digital banking channels, such as Link.BizPortal, iAccess, and the Mobile Banking App for fund transfer, bill payment, and balance inquiry.

Account holders can also use the PISO account in any LANDBANK, BancNet, 7-Eleven Automated Teller Machine (ATM), domestic Point-of-Sale (POS) terminal, and over-the-counter transactions in their respective LANDBANK branch of account.

Individuals interested in opening a LANDBANK PISO account should visit the nearest LANDBANK branch.

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

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