Landbank will make all online fund transfers free starting today, July 7, enabling retail clients to send money at no cost via its mobile banking app (MBA) and iAccess for InstaPay and PESONet transactions.
This zero-fee policy also extends to overseas Filipino bank (OFBank) clients worldwide.
Building directly on its initiative launched June 1 to waive fees for eligible person-to-government (P2G) transactions via QRPh, Landbank is taking the next step by eliminating fees for retail transactions. This marks another significant milestone in its drive toward a fully integrated, cost-free digital banking ecosystem.
Through a single account, clients can now manage both personal finances and government transactions seamlessly and entirely free of charge, underscoring the bank’s public service mandate and steadfast commitment to delivering accessible digital financial services for the nation.
“Every peso saved on transfer fees is a peso that Filipino families can spend on their daily needs and that businesses can reinvest in growth,” Landbank chairman and Finance Secretary Frederick Go said in a statement July 6.
“I hope all financial institutions will continue lowering or removing the cost of digital transactions for every Filipino,” he said, adding the move is part of a broader effort to accelerate digital financial inclusion and ensure affordable, efficient banking services for all Filipinos.
Bank president and CEO Lynette Ortiz underscored the initiative’s direct impact on everyday financial needs. “By expanding our zero-fee digital framework from government payments to everyday retail transfers, we want to ensure that our banking services directly uplift our workers, small business owners, and overseas Filipinos.”
Meanwhile, the bank and the National Commission of Senior Citizens (NCSC) signed a supplemental memorandum of agreement to institutionalize the nationwide digital distribution of cash gifts under Republic Act 11982, or the Expanded Centenarians Act (ECA).
Senior citizens who reach the milestone ages of 80, 85, 90, and 95 are entitled to receive a P10,000 cash gift, while those who reach 100 years old are eligible to receive P100,000 cash gift under the ECA Program. Grantees with existing Landbank accounts may have their cash gifts directly credited to their accounts.
With the bank’s weAccess internet banking facility and bulk crediting system, qualified ECA grantees will receive their cash incentives through a Landbank Perang Inimpok Savings Options (PISO) Plus Account, visa debit card, or nominated bank accounts.
Those without an existing Landbank account may open one, through the bank’s straight-through account opening feature on its MBA, or via the Digital Onboarding System (DOBS) at any Landbank branch, eliminating the need for lengthy paperwork.
For 2026, the NCSC is poised to disburse more than P3 billion in cash gifts to approximately 299,000 ECA grantees through multiple digital payment channels. As of May, the NCSC has already served 75,922 grantees nationwide, with total cash gifts amounting to P801.79 million. ||
