Land Bank of the Philippines said it continues to waive fees for fund transfers to other banks via InstaPay and PESONet for transactions worth P1,000 and below in line with providing safe, convenient, and accessible digital banking services.
Bank customers can enjoy free online fund transfers for the first three transactions facilitated in a day through the LandBank Mobile Banking App (MBA), and the bank’s online retail banking channel, the iAccess.
LandBank also reduced the fixed transaction fee for interbank fund transfers amounting to more than P1,000 to P15 from the previous rate of P25. Meanwhile, fund transfers between LandBank and Overseas Filipino Bank (OFBank) accounts, regardless of the amount, remain free-of-charge.
“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. Beyond the convenience of free fund transfers, customers can also use LandBank’s digital platforms for bills payment, cardless withdrawal, and opening of additional deposit account,” said LandBank [resident and CEO Lynette V. Ortiz.
