It was just a few months back that LandBank had recently cut their online bank transfer fee to just PHP 15 from PHP 25, regardless of the amount.
Now, LandBank has just announced that online fund transfers made via InstaPay or PESONet to any other bank will be free starting on November 1 for transactions that are PHP 1,000 or below.
LandBank also emphasized that fund transfers between LandBank and Overseas Filipino Bank (OFBank) accounts remain free of charge regardless of the amount.
However, this doesn’t mean that users could simply send multiple online transfers that are less than PHP 1,000 instead of sending a single bulk amount.
Since the waived transfer fee will only be applicable to the first three online fund transfers or transactions in a day made via the Landbank Mobile Banking App and iAccess, Landbank’s online retail banking channel.
LandBank also further added that the daily transaction limit for fund transfers and bill payments has been removed, allowing users to now have an unlimited number of transactions each day.
“We are thrilled to announce that LandBank is waiving transaction fees for small-value online fund transfers to other banks,”
“This is our holiday gift to our valued customers, as we continue to promote safe and convenient digital transactions,”
— Lynette Ortiz, LandBank President and CEO
