State-owned Landbank of the Philippines extended anew the waiver of fees for online fund transfers of retail clients until June 30, 2021 as a way to help the public cope with rising Covid-19 cases.
The waiver of fees, previously extended until March 31, covers online fund transfers facilitated through online banking channels via InstaPay and PESONet.
Among these platforms is the Landbank Mobile Banking App, which facilitated 14.1 million transactions valued at P20.27 billion as of end February, amounting to increases of 71 percent and 230 percent, respectively, over the same period in 2020.
The Landbank MBA was upgraded last year to include new features, such as an enhanced user interface, card-less withdrawal, and registration of Mastercard credit and prepaid cards.
Since the government-imposed health restrictions in March last year, Landbank has been encouraging clients to utilize its digital and e-banking channels.
“Landbank remains committed in balancing service delivery and safety, by providing secure and convenient digital banking solutions while promoting health protection. We continue to urge our clients to utilize our online banking platforms and make cashless transactions, especially at this time when Covid-19 cases are rising,” Landbank president and CEO, Cecilia Borromeo, said.*PNA