LANDBANK Agent Banking (AB) Partners are one of the retail channels of LANDBANK to promote inclusive growth through the delivery of innovative financial products and services powered by digital banking platforms. This program supports the national government’s objectives towards greater financial inclusion, through partnerships with eligible organizations that help bring selected banking services in places where banks are not accessible. Agent Banking (AB) is a form of branchless banking wherein the Bank enters into an agreement with an AB Partner (ABP) to perform limited financial services on behalf of the Bank.
The AB Program is in accordance with BSP Circular No. 940 series of 2017, wherein banks are now allowed to serve clients through cash agents contracted to perform selected transactions in its behalf, to exponentially expand reach and serve clients more efficiently:
This offers a wide range of benefits to the customers, ABPs and the Bank itself.
| Customers | Agent Banking Partners (ABPs) | LANDBANK |
|---|---|---|
| Will be able to enjoy lower transaction costs | ABPs will be able to earn additional income while increasing their business’ sales volume | Will be able to serve its mandated customers |
| Improved access to financial services; and | Become known for being affiliated with LANDBANK | Expand its customer base, market share and financial coverage; and |
| Potential savings on travel and related expenses for clients located outside of municipal or city centers | Contribute to socioeconomic growth | Save on branch infrastructure and manpower cost |
Qualified LANDBANK Agent Banking Partners
There are two (2) AB Partnership modalities - Direct Agents and Agent Aggregators. Direct Agents are accredited by the Bank and carry out the responsibilities of an agent as allowed in the BSP circular. Agent Aggregators, meanwhile, are registered entities with established networks, outlets or franchises within its supervision and utilize its existing payment processing facilities to operationalize AB services while retaining overall responsibilities as the Bank’s ABP.
1. Direct Agents
2. Agent Aggregators
Services offered through LANDBANK ABPs include the following:
1. Point-of-Sale (POS) Cash-Out only – this enables cash-out transactions not just for LANDBANK-issued cards but also for other participating BancNet ATM cards.
2. Complementary Services - any one of the following:
a. Agent Banking Card (ABC) Services
b. Cash-out for LANDBANK and participating BancNet ATM Cards
c. Bills payment through the Bank’s Link.BizPortal
| LANDBANK Agent Banking Card (ABC) | |
|---|---|
| PARTICULARS | DESCRIPTION |
| Basic Card and Product Features • P50,000 Maximum balance at any given time • P100,000.00 Monthly cumulative credit limit • P30,000 daily withdrawal limit | • Not a deposit account • Philippine Peso Currency • EMV Chip-enabled • Contactless • Valid for 5 years • Reload in any LANDBANK Branch and ABP location |
| Uses | • Personal spending in different channels • Institutional Top-up |
| Channels | Accessible in the following where the MasterCard logo is shown: • Online Purchases • ATMs Worldwide • Point-of-Sale (POS) terminals worldwide LANDBANK Mobile Banking App (MBA) |
| ATM Withdrawal | P30,000 or withdrawal limit of the ATM/POS terminal, whichever is lower Subject to withdrawal fee |
| Requirements | Basic or “lite” KYC |
| Maintaining Balance | No maintaining balance |
| Interest Fees & Penalties | None |
Documentary Requirements for Agent Banking Partners
Please visit your nearest LANDBANK Branch if you wish to be a LANDBANK ABP.
Click here for the list of ABP (or LANDBANKasama) Partners.
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