Landbank Offers Free Online Fund Transfers for Small Transactions

Manila – The Land Bank of the Philippines (Landbank) is continuing to waive fees for online fund transfers to other banks via InstaPay and PESONet for transactions of PHP 1,000 and below, as part of its commitment to provide safe, convenient, and accessible digital banking services.

According to Philippines News Agency, Landbank customers can enjoy free online fund transfers for the first three transactions each day through the Landbank Mobile Banking App (MBA) and the bank’s online retail banking channel, iAccess. For interbank fund transfers exceeding PHP 1,000, a reduced fixed transaction fee of PHP 15, down from PHP 25, will be charged. Additionally, fund transfers between Landbank and Overseas Filipino Bank (OFBank) accounts will remain free-of-charge, regardless of the amount.

“We are extending our waiving of fees for small-value online fund transfers to encourage more clients to embrace cashless transactions, in support of the National Government’s thrust of building a cash-lite economy,” said Lynette Ortiz, president and CEO of Landbank. She emphasized that beyond the convenience of free fund transfers, customers can also utilize Landbank’s digital platforms for bills payment, cardless withdrawal, and opening additional deposit accounts.

For easy and convenient online banking, customers can download the Landbank MBA for free on Google Play, Apple App Store, and Huawei App Gallery. The app allows Landbank account holders to easily enroll and conduct online financial transactions by providing their deposit account details.