The state-run Land Bank of the Philippines (LandBank) has launched “Perang Inimpok Savings Option” or PISO account for unbanked and underserved Filipinos.
In a statement on Sunday, LandBank said students, public utility vehicle drivers, vendors, home helpers, farmers and fishermen, among others, can open a deposit account with just P1 as the minimum initial deposit and up to a maximum account balance of P50,000.
“The LANDBANK PISO is another testament to our commitment to advancing the national government’s financial inclusion agenda. We continue to develop accessible and convenient banking products tailored to the diverse needs of our customers, including the unbanked and underprivileged. served,” said Cecilia Borromeo, President and CEO of LandBank.
According to the bank, the depositor is only required to present one valid identity card or any certification, authorization or barangay ID for verification.
LandBank PISO is offered to people without an existing LandBank deposit account and unable to open a regular deposit savings account with higher initial deposit and balance maintenance requirements, he added. .
Meanwhile, account holders can access the bank’s range of digital banking channels such as iAccess, Link.BizPortal and the mobile banking app for funds transfer, bill payment and balance inquiry services. .
They can also use the PISO account at any LandBank, BancNet and 7-Eleven Automated Teller Machine (ATM), Domestic Point of Sale (POS) terminals and for over the counter transactions at their respective LandBank account branch. .
To open a LandBank PISO account, interested persons can visit the nearest LandBank branch in their area. —Mel Matthew Doctor/KG, GMA News