About 10 million beneficiaries under the Conditional Cash Transfer (CCT) and
Unconditional Cash Transfer (UCT) Programs of the Department of Social Welfare
and Development (DSWD) as of 31 May 2022 can now access a wider array of
banking services, through their upgraded prepaid cards from the Land Bank of the
Philippines (LANDBANK).
The existing LANDBANK prepaid cards of the beneficiaries have been upgraded
automatically into transaction accounts with expanded features to provide more
convenient banking services.
“We continuously enhance our products and services to meet the growing needs of
our diverse clientele. This includes our delivery of government subsidies, geared
towards providing vulnerable sectors with improved access to formal financial
services,” said LANDBANK President and CEO Cecilia C. Borromeo.
The LANDBANK CCT-UCT Prepaid Cards now allow receiving of funds from
LANDBANK accounts through fund transfers via the LANDBANK Mobile Banking App
(MBA), iAccess, the LANDBANK Remittance System (LBRS) for overseas remittances,
Automated Teller Machines (ATMs), and from other bank accounts via InstaPay and
ATM fund transfers.
Beneficiaries are also now able to load their LANDBANK CCT-UCT Prepaid Cards via
231 LANDBANK Cash Deposit Machines (CDMs) and over-the-counter at select LANDBANK branches nationwide, as of 31 May 2022, allowing them to secure and
save funds through their own transaction accounts.
In addition, beneficiaries can use 2,822 LANDBANK ATMs for cash withdrawal, bills
payment, purchase of mobile prepaid load, and fund transfers to LANDBANK and
other bank accounts. The LANDBANK CCT-UCT Prepaid Card can also be used to
cash-out funds from the Bank’s 924 Agent Banking Partners (ABPs) nationwide.
With LANDBANK’s recent partnership with Pito Axm Platform, Inc. (PAPI), the
operator of 7-Eleven ATMs in the Philippines, beneficiaries can also withdraw cash
free-of-charge from almost 1,700 7-Eleven ATMs in the country.
These features complement previous functions of the prepaid cards, which can also
be used for cashless transactions in groceries, pharmacies, convenience stores, and
other accepting merchants via Point-of-Sale (POS) terminals, including balance
inquiry via the LANDBANK MBA.
The upgrading of LANDBANK CCT-UCT Prepaid Cards forms part of LANDBANK’s
commitment to provide accessible, responsive, and secure financial services
particularly to underserved sectors in the country.
