MANILA, Philippines – Clients of Landbank of the Philippines (Landbank) can now open a savings account completely online using just their smartphone.

Landbank has recently upgraded its mobile banking app with what it calls a “straight-through account opening feature” that lets customers open a digital account instantly and at any time without having to visit a branch.

Through the mobile app, customers can open the following accounts:

• Landbank PISO Plus basic deposit account
• Landbank Visa debit account
• GoBayani savings account for overseas Filipinos

To open an account, clients only need the latest version of the app, an internet connection, and a valid identification card, such as a Philippine passport, driver’s license, PhilSys ID card, Unified Muti-Purpose ID Card, or Professional Regulation Commission ID.

Landbank clients can also use the app for online fund transfers, bills payments, balance inquiries, and salary loan services.

Through the app, Landbank customers can also transfer funds below P1,000 for free via InstaPay and PESONet, up to three times in a day. (READ: Landbank waives fees for fund transfers below P1,000)

The upgrades to its mobile app are part of the state-owned bank’s efforts to improve its digital banking experience, and it’s been successful so far: Throughout the first quarter of 2024, usage of the Landbank app has increased by 96% compared to the same period in 2023.

Transactions overall went up from 10.7 million in Q1 2023 to 20.9 million in Q1 2024. Total transaction value grew by 42% from P63 billion to P89.4 billion, with fund transfers and bills payment transactions in particular leading the growth. – Rappler.com

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