ATM Savings Account www.landbank.

com

As I said earlier, there are some documents you should pass to the bank when you are
An interest bearing peso savings account wherein deposits transactions are done over applying for a new bank account. It is mandatory for all the banks to get information
the counter or thru cash deposit machine (CMD), while withdrawal transactions are done about their customers as required by Anti-Money Laundering Law. So if you dont have
via Automated Teller Machines (ATM) 24 hours a day, seven days a week. Deposit and still these requirements, you must get it first before going to the bank where you want
withdrawal transactions may also be done over-the-counter but only during official to apply.
banking hours/days. ATM withdrawals may also be made at any Expressnet, Megalink1. First of all, you should have at least two valid ID. When I say valid, it should be current
and you are still using it. It must not be expired or damaged. As much as possible,
and Bancnet ATMs. Hassle-free and cashless purchases may also be done through any
your name and picture is indicated on the ID. The most common examples of ID you
Point-of-Sale (POS) terminal from partner merchants across the country.
can use for opening an account are SSS ID, school ID, Drivers license, Postal ID,
FEATURES
Company ID, NBI Clearance, Passport, Senior Citizen card and any government-issued
Minimum Initial Deposit Requirement
P 500
ID.
Required Minimum Monthly ADB
P 500
2. Make sure to bring at least one proof of billing such as Meralco bill, water utility bill,
Required Daily Balance to Earn Interest
P 500
credit card bill, telephone or cell phone bill or any kind of billing statement you have.
Interest Rate (per annum)
.250% p.a.
Even though you do not own the bill, you can still use it as long as you are living in
Maximum Withdrawable Amount / Day
P 50,000
that house.
Documentation
ATM Card
3. Make at least two photocopies for each ID and billing statement. Only photocopies will
Point-of-Sale (POS) - Cashless Payments per day
P 100,000
be get from you not the original copy but you still need to bring it for verification.
Service Fee for Falling Below the Required Minimum ADB
P200/month
4. For foreigners living in the Philippines which are not a Filipino citizen, you should have
Closing fee (within one month from opening date)
P200
your Alien Certificate of Registration, passport and proof of billing as requirements for
BASIC REQUIREMENTS
bank account application.
Individuals, Local
5. Prepare the initial deposit of your account. Usually, you can open a new savings account
1. Presentation of at least one (1) original valid photo-bearing ID
for as low as P500 for ATM account without passbook. If you want to have a passbook
Notes:
and an ATM card, the normal initial deposit for that is P10, 000.
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).
Identifying documents shall be signed by the customer.
How to Apply for LandBank ATM Card?
SSC of referred customer shall be signed by the endorsing officer/employee of the Bank Like any major banks in the Philippines, you can get an ATM card from LandBank if you
secure or prepare the needed requirements first. Without these requirements, LandBank
or valued customer.
The BH/BOO/BSO[1] who shall approve the opening of the deposit account may, at his will deny or will not accept your ATM account application. Save your time and money by
discretion, confirm the same with the referring officer/employee or valued depositor following the steps below in applying a LandBank ATM card:
Step 1
of the Bank.
Prepare and bring the needed requirements:
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 voting1. At least two (2) valid id's. Either 1 photo-bearing ID and 1 non photo-bearing ID or both
2 photo-bearing ID's.
age may be allowed to present the original school ID duly signed by the Principal or
Examples of photo-bearing id's which are accepted are:
head of the school and submit a clear photocopy of the same.
Driver's License
4. Whenever necessary, the Branch may accept other IDs, provided that it shall not be the
School/Student's ID
sole means of identification.
Company/Office ID
5. In case the identification documents mentioned above or other identification documents
Postal ID
acceptable to the Bank do not bear any photo of the customer or authorized
Voter's ID
signatory, or the photo-bearing ID or a photocopy thereof does not clearly show the
Social Security System (SSS ID)
face of the customer or authorized signatory, the Branch may utilize own technology
Government Service Insurance System (GSIS ID)
to take the photo of the customer or authorized signatory
Tax Identification Number (TIN ID)
6. Birth certificate of the child in case of parents opening an account in behalf of their child
Passport
Notes:
Seaman's Book
The Branch shall retain a photocopy of the same duly authenticated by the NAC
OFW ID
The parent(s) shall still be identified in accordance with the requirements
Overseas Worker's Welfare Administration (OWWA) ID
Professional Regulation Commission (PRC ID)
Bank Requirements in the Philippines
Philippine Overseas Employment Association (POEA) ID
For first-time customers in applying bank account, it sometimes difficult to get
Consular ID
information on what documents should bring and submit to the bank. Commonly, most
PhilHealth ID
people resort to the Internet to know and learn which documents they should bring and
Alien Certificate of Registration (ACR I-Card) - for foreigners/non-Filipinos
what are the procedures to follow.
Permit to Carry Firearms
In order to address this issue, I created this article to help you prepare when you want
Armed Forces of the Philippines (AFP) ID
to apply for a bank account, particularly savings account. In general, it is not
Home Development Mutual Fund (HMDF) or PAG-IBIG ID
complicated to open a new account; it is only our lack of knowledge that makes thing
Department of Social Welfare and Development (DSWD) ID
difficult.
PRA Special Resident Retiree Visa (SRRV) ID
Requirements to Submit when Opening a Bank Account
Senior Citizen's ID

Unified Multi-Purpose ID (UMID)

Police Clearance
National Bureau of Investigation or NBI Clearance
other government-issued ID's...
Examples of non photo-bearing valid ID's:
National Statistics Office or NSO Birth Certificate
Marriage Certificate (NSO Authenticated)
Baranggay Clearance/Certificate (Certificate of Residency)
2. Two pieces 1" x 1" ID picture. Recent and formal ID picture is recommended.
3. Initial deposit (Php 500). But you can deposit more than this.
4. Tax Identification Number (TIN), if employed.
5. Proof of Billing
Tip: Photocopy the valid id's you want to bring. You can make 2 or 3 copies each. Those
extra copies can still be used for your future need whenever you apply for another valid
id or when you do other financial, banking or business transactions. For security and
safety purposes, you can keep this requirements inside a plastic folder or envelope.
Step 2
After securing the needed requirements, you can now go to your preferred LandBank
branch. Inside the bank, go to the "New Account" section. If you don't know where the
"New Account" section is, just ask the security guard or any bank officer where to open
a new account. The bank officer will gladly respond to your concern.
Step 3
The bank officer will process your application. Get the requirements and be prepared to
fill-out an application form and some documents.
After filling-out and signing-in the documents, give your initial deposit. You will then be
given a deposit slip or a claim stub.
Claiming the LandBank ATM Card
You can claim your ATM card right away on the day you open an ATM account.
The LandBank employee will process the printing of the details of your ATM Card
(account name, account number, card number). Those information will be printed thru
their Card Printer Machine.
Frequently Asked Questions?
How much is the maintaining balance of the LandBank ATM Card? Php 500
How much is the service fee/charge for falling below the required maintaining balance?
Php 200 per month
How much is the interest rate that the ATM can earn? .250% per year
How much can is the maximum amount that can be withdrawn in a day? Php 50,000
How much is the maximum amount of Express Payment System (EPS) transaction can
be done in a day? Php 100,000
I'm a foreigner or non-Filipino, what are the requirements? You can bring your Alien
Certificate of Registration (ACR-Card), birth certificate, your passport, driver's license,
barangay certificate or any other valid id's.
Is there a charge or a fee when I close my account? Yes. When you close your ATM
account within 30 days from date of opening, you will be charged with Php 200.
What if I didn't deposit or I didn't withdraw in my ATM in two years? What will happen to
my ATM? Your ATM will become dormant and you will be charged with a dormant fee
of Php 200 per month.
What if I lost my ATM card? How much is the replacement fee? Replacement fee is Php
50.

How To Open A Landbank Account?

Land Bank of the Philippines, initialed LBP and also known as LANDBANK is a
government-owned bank which primarily caters for the banking needs of fishermen and
farmers in the country. It competes with the biggest banks in the island like Bank of the
Philippine Islands (BPI), Banco de Oro (BDO), Metrobank, and Philippine National Bank
(PNB). In the rurals, it either complements or competes with the rural banks.

I have opened my Landbank account just last month and feel happy about it. I read that
withdrawing money from Paypal to Landbank is much cheaper since Landbank charges
PHP50 only per transaction.
I went to the nearby Landbank branch and asked for the requirements and the new
accounts clerk gave me this small paper that lists the necessary things I should prepare:
1. Two pieces 1x1 picture (not scanned or photocopied).
2. BIR Tax Identification Number (TIN).
3. Proof of Billing/Mails Received/Barangay Clearance.
4. Photocopy of two valid IDs, not expired and bears signature.
Example of IDs include SSS, passport, postal, senior citizen, school ID, PRC, GSIS
ecard, Driver's License, company ID, police clearance, and seaman's book.
5. Initial Deposit:
ATM account: 500.00
Pension account: 100.00
Payroll/HDMF account: 100.00
Regular Passbook: 10 000.00
EASY Savings plus account: 20 000.00
Current Account: 5 000.00
Upon returning the next time, I readied myself with my pictures, TIN number, proof of
billing, and 2 valid IDs. I needed to supply a copy of my marriage contract since I still
carry my maiden name in my IDs. After submitting this to the New Accounts Clerk, she
examined my requirements and gave me some paper to fill in my necessary information
which included providing my 3 specimen signatures and thumb marks. Then, I waited
for almost 30 minutes and my name was called, I was asked to key in my 4 digit pin
code in the computer. I gave my 500 bill for opening the ATM account and after 15
minutes, I got my very own ATM card for LANDBANK.

How to Apply for Savings Account

Basically, applying for a savings account is not that hard. You only have to be patient
when going directly to the bank. There are several requirements you should obtain prior
going to the branch where you want to open an account.
The requirements you must have are one valid photo-bearing ID, proof of billing, 1x1
picture and money for initial deposit.
If you have the requirements mentioned above, you are definitely ready getting a
savings account. Go to the nearest branch of Land Bank in your area. When you arrived
at the bank, you should ask the guard where you can open a new savings account. He
will tell the counter where you should go.
Then, ask the bank employee that you want to open a new account. She will give you
application forms and signature cards that you need to fill out completely. After finishing
the forms, you have to submit these forms together with the photocopy of your ID, proof
of billing, picture ID and the money.
It will be checked and verified by the employee for correctness and authenticity. If there
are no problems with your forms, it will be approved easily and you can get your ATM or
passbook after 3-5 banking days. You can confirm this to the employee assisting you so
youre sure when you will return to the bank.
Date Issued: 05.20.2008
Number: 608
CIRCULAR NO. 608
Series of 2008

Subject : Valid
Transactions

Identification

Cards

(IDs)

for

Financial

Pursuant to Monetary Board Resolution No. 553 dated 8 May 2008, the provisions of
Circular No. 564 dated 3 April 2007 on the guidelines governing the acceptance of valid
identification cards for all types of financial transactions by banks and non-banks
financial institutions under BSP supervision, including financial transactions involving

overseas Filipino workers (OFWs), in order to promote access of Filipinos to services

offered by formal financial institutions, particularly those residing in the remote areas,
as well as to encourage and facilitate remittances of OFWs through the banking system,
are hereby amended to read as follows:
a) Clients who engage in a financial transaction with covered institutions for the first
time shall be required to present the original and submit a CLEAR copy of at least ONE
(1) valid photo-bearing identification document issued by an official authority. FOR THIS
PURPOSE, THE TERM OFFICIAL AUTHORITY SHALL REFER TO ANY OF THE FOLLOWING:
(i) GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES; (ii) ITS POLITICAL
SUBDIVISIONS
AND
INSTRUMENTALITIES;
(iii)
GOVERNMENT-OWNED
AND/OR
CONTROLLED CORPORATIONS (GOCCs); AND (iv) PRIVATE ENTITIES OR INSTITUTIONS
REGISTERED WITH OR SUPERVISED OR REGULATED EITHER BY THE BANGKO SENTRAL
NG PILIPINAS (BSP) OR SECURITIES AND EXCHANGE COMMISSION (SEC) OR INSURANCE
COMMISSION (IC). Valid IDs include the following:
Passport
Drivers License
Professional Regulation Commission (PRC) ID
National Bureau of Investigation (NBI) Clearance
Police Clearance
Postal ID
Voters ID
Barangay Certification
Government Service Insurance System (GSIS) e-Card
Social Security System (SSS) Card
Senior Citizen Card
Overseas Workers Welfare Administration (OWWA) ID
OFW ID
Seamans Book
Alien Certification of Registration/Immigrant Certificate of Registration
Government Office and GOCC ID, e.g. Armed forces of the Philippines (AFP ID),
Home Development Mutual Fund
(HDMF ID)
Certification from the National Council for the Welfare of Disabled Persons
(NCWDP)
Department of Social Welfare and Development (DSWD) Certification
Integrate Bar of the Philippines ID
Company IDs issued by private entities or institutions registered wit or
supervised or regulated either by the BSP, SEC or IC
b) Students who are beneficiaries of REMITTANCES/FUND TRANSFERS who are not yet of
voting age may be allowed to present THE ORIGINAL AND SUBMIT A CLEAR COPY OF
ONE (1) VALID photo-bearing school ID duly signed by the principal or head of the
school.
c) Banks and non-bank financial institutions under BSP supervision shall require their
clients to submit clear copy of the ONE (1) valid ID on a one-time basis only, or at the
commencement of a business relationship. They shall require their clients to submit an
updated photo and other relevant information whenever the need for it arises.
THE FOREGOING SHALL BE IN ADDITION TO THE CUSTOMER IDENTIFICATION
REQUIREMENTS UNDER RULE 9.1.C OF THE REVISED IMPLEMENTING RULES AND
REGULATIONS (RIRRS) OF R.A. NO. 9160, OTHERWISE KNOWN AS THE ANTI-MONEY
LAUNDERING ACT OF 2001, AS AMENDED.

For purposes of this Circular, financial transactions may include remittances, among
others, as falling under the definition of transaction. Under the Anti-Money Laundering
Act of 2001, as amended, a financial transaction is any act establishing any right or
obligation or giving rise to any contractual or legal relationship between the parties
thereto. It also includes any movement of funds by any means with a covered
institution.
This Circular shall take effect fifteen (15) days following its publication either in the
Official Gazette or in a newspaper of general circulation.
FOR THE MONETARY BOARD:
AMANDO M. TETANGCO, JR.
Governor

Top 31 Valid ID's Required in the Philippines

1. Driver's License
2. Postal ID
3. Social Security System ID (SSS ID)
4. Government Service Insurance System (GSIS ID)
5. Tax Identification Number (TIN ID)
6. Professional Regulation Commission ID (PRC ID)
7. National Statistics Office (NSO) Birth Certificate
8. Marriage Certificate (NSO Authenticated)
9. National Bureau of Investigation (NBI) Clearance
10. Police Clearance
11. Barangay Clearance/Certificate
12. Senior Citizen's ID Card
13. PhilHealth Identification Card (PIC)
14. Alien Certificate of Registration (ACR I-Card)
15. Consular ID
16. Permit to Carry Firearms
17. Passport
18. Company/Office ID
19. Student's ID or School ID
20. OFW ID
21. Seaman's Book
22. Armed Forces of the Philippines (AFP) ID
23. Home Development Mutual Fund (HMDF) or PAG-IBIG ID
24. Philippine Overseas Employment Association (POEA) ID
25. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
26. PRA Special Resident Retiree Visa (SRRV) ID
27. Department of Social Welfare and Development (DSWD) ID
28. Overseas Worker's Welfare Administration (OWWA) ID
29. Unified Multi-Purpose ID (UMID)
30. Philippine National Police (PNP) ID
31. Voter's ID
These valid ID's are in compliance with the Bangko Sentral Ng Pilipinas (BSP), circular
564. Clients who engage in a financial transaction with the covered institutions for the
first time shall be required to present the original and submit a copy of at least two valid
photo-bearing identification documents issued and signed by an official authority.