The Land Bank of the Philippines (LANDBANK) announced that starting 01 June 2022,
customers will enjoy significantly lower transaction fees when making online payments
using the Link.BizPortal digital payment platform.
LANDBANK reduced the LinkBiz transaction fees for LANDBANK and Overseas Filipino
Bank (OFBank) ATM Account and Prepaid Cardholders from P15.00 to P7.00 per
transaction.
Customers who use the LANDBANKPay—LANDBANK’s recently launched all-in-one mobile
wallet—will also be charged P7.00 per LinkBiz transaction, with additional P2.00 rebate.
Transaction fees using other payment options, except over-the-counter cash and credit
card payments, will also be reduced from P25.00 to P17.00.
The fee adjustment is in line with LANDBANK’s commitment to provide accessible
financial services to meet the diverse and growing needs of customers, and advance
financial inclusion in the country.
“We continue to encourage our customers to make cashless payments in a convenient,
safe and cost-effective manner. The lowered LinkBiz transaction rates form part of
LANDBANK’s contribution towards building a cash-lite society,” said LANDBANK President
and CEO Cecilia C. Borromeo.
The Link.BizPortal is LANDBANK’s web-based payment channel that allows clients to pay
for products and services online to over 870 government and private partner merchants
nationwide.
The use of LANDBANK’s digital channels continues to rise as more customers perform
their banking and financial transactions online. For the first three months of 2022, the
LANDBANK Link.BizPortal facilitated 660,490 transactions with value of P1.39 billion,
representing increases of 37% and 41%, respectively, year-on-year.
LANDBANK’s digital transformation fully supports the National Government’s digital and
financial inclusion agenda in line with its expanded mandate of serving the nation.
