B. BRANCH BANKING OPERATIONS

1.    What will happen to the UCPB deposit account?

The UCPB account will be converted to a LANDBANK account. LANDBANK will send letters or emails and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTD/checkbook, and other evidence of deposits.

2.    Do clients need to fill-up forms for the newly converted LANDBANK accounts?

UCPB clients are not required to fill-up LANDBANK account opening forms. However, they are encouraged to update their Client Information online via LANDBANK’s Digital Onboarding System (located at  https://dobs.landbank.com/DOBS/customerUpdate/ucpb/personal) prior to visiting their LANDBANK Servicing Branch for the release of their ATM/passbook/CTD/checkbook, and other evidence of deposits for their new LANDBANK accounts.

3.    Are UCPB clients required to update their customer information before migration?

UCPB clients are not required but are encouraged to update their information before migration to facilitate the processing of their new LANDBANK accounts, and to ensure that the data migrated to LANDBANK is complete and in accordance with the requirements set by the Bangko Sentral ng Pilipinas (BSP).

4.    How can former UCPB customers update their information with LANDBANK?

The procedures for updating UCPB customer information are as follows: 

a.    Upon receipt of email or SMS notification from LANDBANK on the schedule of conversion, these steps should be performed at least one (1) day prior to your branch visit:

1)    On your computer browser, go to the official LANDBANK website at ‘www.landbank.com’. Click on DOBS, then click UCPB Customer Updating.
2)    Provide the UCPB Account Number and date of birth, then agree to the Terms and Conditions;
3)    Input the One-Time PIN (OTP) sent to your registered mobile number;
4)    Fill out all details in the Customer Information Sheet, then click the submit button;
5)    Write down or screenshot the Application Number sent to your mobile number;
6)    Proceed to the New Accounts Clerk at the LANDBANK servicing branch and bring at least one (1) valid ID, TIN and UCPB account documentation; and
7)    Wait for the ATM card/passbook and other evidence of deposits.
8)    For clients who are unable to receive OTP, you may proceed directly to the branch of account.

b.    If the email address and/or mobile number is not updated, the client will receive a letter via postal mail from the LANDBANK servicing branch, with the following updating procedures:

1)    Visit your LANDBANK servicing branch (former UCPB Branch) and bring at least one (1) valid ID, TIN and UCPB account documentation;
2)    Proceed to the New Accounts Clerk;
3)    Fill up or check the required information on printed Customer Information and Specimen Signature Card (CISSC), and then, sign;
4)    Submit to the New Accounts Clerk for checking, verification and updating in the system; and
5)    Wait for the ATM card/passbook and other evidence of deposits

    IMPORTANT REMINDER: LANDBANK DOES NOT require its clients to update or verify their personal information or bank account via e-mail. If you have received an email message asking you to update your account, DO NOT click any link or download attachments from this phishing email. Report this phishing attack immediately to the LANDBANK Customer Care Hotline:
•    Call: (02) 8-405-7000 or 1-800-10-405-7000 (PLDT Domestic Toll-Free Number)
•    Email: customercare@mail.landbank.com.

5.    Will the UCPB account number be changed?

Yes. A new account number will be issued and this will follow the account numbering convention of LANDBANK which is based on the type of account.

6.    What other LANDBANK products and services can a client avail other than his/her existing deposit account?

LANDBANK has a wide array of LANDBANK products and services to suit its customers’ banking needs which are available in all 607 LANDBANK branches, 71 branch-lite units nationwide and 58 lending centers,and through digital banking channels. 

For the list of LANDBANK deposit products and services, the clients may visit the LANDBANK website at ‘www.landbank.com’.

7.    Will the UCPB CheckStarter Account with only P1,000.00 maintaining balance be retained?

The UCPB CheckStarter Account will be converted to LANDBANK regular checking account with maintaining balance and minimum required ADB of  P5,000.00 for individual clients and P10,000.00 for institutional clients. A service fee of P200.00 will be charged for checking accounts falling below the ADB requirement for two (2) consecutive month-end and every month-end thereafter.

8.    Will the UCPB Start2Save Junior Savings Account evidenced by passbook andATM card and with initial deposit and minimum ADB requirement of P100.00 be retained?

The UCPB Start2Save Account will be converted to LANDBANK regular ATM savings account. LANDBANK passbook will no longer be issued to account holders. LANDBANK maintaining balance and minimum ADB requirement for LANDBANK regular ATM savings account is P500.00. A service fee of P200.00 will be charged for savings accounts falling below the ADB requirement for two (2) consecutive month-end and every month-end thereafter.

9.    Will the UCPB Multi-One (All-in-One Savings and Checking Account with ATM and Passbook) with initial deposit and minimum ADB requirement of P20,000.00 for individual clients and P40,000.00 for institutional clients be retained?

The UCPB Multi-One Account will be converted to LANDBANK Peso E.A.S.Y. (Earning Access and Sure Yield) Check with ATM Access Account. LANDBANK passbook will no longer be issued to account holders.  The maintaining balance and minimum ADB requirement for this account is P10,000.00 for Individual, P20,000.00 forPrivate Corporation, P30,000.00 for Government Institution. 

A service fee of P200.00 will be charged for checking accounts falling below the ADB requirement for two (2) consecutive month-end and every month-end thereafter.

10.    Will the UCPB Regular Savings Account with Passbook (with option to apply for an ATM card, and with initial deposit and minimum ADB requirement of P10,000.00) be retained?

The UCPB Regular Savings Account with Passbook will be converted to LANDBANK Regular Passbook Savings Account with maintaining balance and minimum ADB requirement of  P10,000.00.  LANDBANK ATM card will no longer be issued to account holders. Clients may opt to open a separate LANDBANK ATM Savings Account with a maintaining balance and minimum ADB requirement of P500.00.

A service fee of P200.00 will be charged for savings accounts falling below the ADB requirement for two (2) consecutive month-end and every month-end thereafter. 

11.    For current account holders, can UCPB clients still use their checkbooks on hand?

Yes. UCPB clients can still use the checkbooks on hand until March 1, 2024. All clients will be issued with LANDBANK checkbooks once their current accounts are converted to LANDBANK. Absorbing LANDBANK branches shall coordinate with UCPB current account holders for the immediate issuance of new LANDBANK checkbooks.

12.    Who shall shoulder the cost of checkbooks of converted accounts?

Former UCPB clients will shoulder the cost of LANDBANK initial checkbooks and subsequent reorders. 

13.    Will the UCPB Automatic Transfer Account (ATA) be retained?

The UCPB ATA account will not be retained.  The accounts will be converted to LANDBANK Peso E.A.S.Y. (Earning Access and Sure Yield) Check for corporate clients and LANDBANK Peso E.A.S.Y. Check with ATM Access Account for individual clients with the following features:

14.    What will happen to UCPB pension account?

The UCPB pension account will be converted to LANDBANK pension account. Pensioners must comply with the new pension account reporting requirementsof their respective Agency (i.e. SSS, AFP, PVAO, etc.)  to avoid delay in the crediting of monthly pension.

15.    Will payroll account still be maintained?

The UCPB payroll account will be converted and migrated to the LANDBANK payroll account.  LANDBANK and former UCPB branches shall communicate with the institutional clients/employers to discuss and execute the required Memorandum of Agreement. 

LANDBANK will send letters or email notifications and text messages to payroll clients about the migration to inform them where and when to claim their new payroll ATM card.

16.    Can UCPB clients renew their Time Deposit (TD)/High Yield Savings Accounts (HYSA)?

The TD/HYSA accounts of UCPB clients can be renewed upon maturity using the LANDBANK rates. The interest rates for TD/HYSA are available from the LANDBANK Treasury Department. If the TD/HYSA account is not yet due, the existing rates will prevail.

17.    Will the Third Currency Account of a UCPB client be retained?

LANDBANK shall no longer offer the Third Currency Accounts (i.e. Euro, British Pound, Japanese Yen, Australian Dollar, Canadian Dollar, Singapore Dollar).  
        
All existing third currency accounts shall be closed prior to conversion. Thus, clients are advised to perform the following steps:

a.    Open a new peso or dollar account or use your existing account with the branch;
b.    Transfer the remaining balance of your Third Currency Account to the newly opened or existing peso or dollar account;
c.    Close the Third Currency Account after balance transfer has been made. 
d.    One (1) month before the branch schedule of conversion, accounts with no client-initiated transfer will be automatically closed and the remaining balance will be transferred to a dollar account that will be opened for the client.

LANDBANK will send a notice to clients who cannot be reached by phone, email or via face-to-face.

For remittances, clients can still send/receive remittances from/to other countries.  The amount received/sent is the equivalent currency of the existing destination account.

18.    On the conversion of Third Currency Accounts to US Dollar or Peso Accounts, what rate will be used by the Branch?

Branches shall use the prevailing rates provided by the LBP Rates and FX Trading Department (RFTD).
 

19.    What will happen to direct deposit foreign currency accounts? Will LANDBANK maintain the US counterpart banks, particularly for customers who are receiving their US retirement benefits through Philippine banks? 

The handling of UCPB direct deposits of US pensioners will remain the same until the conversion of the servicing UCPB branch. 

Pensioners need to open an account with LANDBANK prior to conversion of the UCPB branch. Since there will be a change of financial institution, clients must fill-out a new Direct Deposit Sign-up Form for submission to USVA thru the LANDBANK Foreign and Domestic Remittance Department (FDRD).

The servicing branch shall provide FDRD the list of pensioners with their new LANDBANK account numbers and old UCPB account numbers for the subsequent manual crediting of the monthly pension until the pension is automatically credited to the new account number.

20.    Once UCPB accounts are converted to LANDBANK accounts, can clients still retrieve the transaction history of their former UCPB accounts? If yes, until when can the transaction reports be accessed? 

Yes. Records for the UCPB accounts will be available through the UCPB facility/system called Paper Vision, similar to LBP IDRARS. This system will be retained and can be used for the retrieval of transaction history through the LBP Technology Management Group (TMG).  The retention period of records will be five (5) years. 

21.    Upon conversion of accounts from UCPB to LANDBANK, what will happen to dormant and garnished accounts?

After conversion, dormant accounts shall maintain their “dormant” status, and the corresponding Specimen Signature Cards shall remain to be handled under joint custody.  Garnished accounts on the other hand, shall retain their tagging as “garnished” and the amount of deposit which is subject to garnishment shall remain to be on hold.  Existing LANDBANK internal control procedures and monitoring on dormant and garnished accounts shall be implemented.

22.    What will happen to deposit and loan accounts of UCPB clients who are out of the country?

The UCPB deposit and loan accounts will be converted to LANDBANK deposit and loan accounts. LANDBANK will send letters, email notifications and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTDs/checkbooks and other evidence of deposits upon return from abroad. 
    
However, clients who are abroad can contact their LANDBANK servicing branch. Please refer to former UCPB Branches Directory in the “UCPB Corner” found at the LANDBANK official website at www.landbank.com.  They are also encouraged to update their account information using the LANDBANK DOBS Online. 

23.    How can UCPB clients abroad update their customer records and claim their new LANDBANK account documentation?

Former UCPB clients who are abroad can update their customer record by submitting the following through email:

a.    Scanned copy of properly accomplished and signed Customer Information Sheet (CIS) and Specimen Signature Card (SSC);
b.    Scanned copy of at least one (1) photo bearing valid ID with clear signature;
c.    Photograph/selfie holding a recently issued newspaper;
d.    Recorded video of the depositor while accomplishing and signing the CIS and SSC, or affixing of thumbmark, whichever is applicable; and
e.    Updated cellular phone number.

Notes:
a.    CIS and SSC forms are downloadable from the LANDBANK website; and
b.    Coordination and know-your-customer (KYC) procedures to be performed by the branch, including the use of challenge questions, may be facilitated using any available online communication tool (e.g. Zoom, Viber, MS Teams, etc.)

For cardholders who are abroad, card and/or PIN can be released to their authorized representatives, subject to the following:

a.    The photo-bearing valid IDs with clear signature of both the cardholder and authorized representative must be presented;
b.    An Authority to Claim Card and/or Request for PIN with Quit Claim (ACCAP), properly accomplished and signed by the cardholder, must be submitted.
c.    A hard or soft copy of the prescribed ACCAP shall be provided or emailed to the cardholder or through the cardholder’s designated authorized representative, upon request.
d.    The ACCAP, properly accomplished and signed by the cardholder, shall be sent by the cardholder to the Bank’s official email address.
e.    The same shall be signature-verified by the branch, and confirmed with the cardholder through video call via Zoom, Skype, Messenger or other video communication applications, whether the cardholder is located locally or abroad.
f.    The branch shall capture through screenshots and/or screen recordings the message exchanges and the video conversation for archiving in a designated folder to serve as proof and for future reference.

NOTE:
In countries where video communication applications are not allowed, the originally signed ACCAP authenticated by the Philippine Consulate, or through the Apostille of the country where the cardholder currently resides, must be submitted by the cardholder’s authorized representative to the branch.

24.    What will happen to the UCPB eMoney Cards?

The UCPB VISA Cash Cards will be converted to LANDBANK Prepaid Cards (LPC), while the UCPB Proprietary Cash Cards will be converted to LANDBANK Institutional Cash Cards (LICC).  No new issuance of UCPB eMoney cards will be done.

25.    Can UCPB Cash Cards of Pag-IBIG members still be used for Pag-IBIG loan availments?

Yes. Existing UCPB Cash Cards can still be used for Pag-IBIG loan reavailments only until new LANDBANK cash cards are issued as replacement by Pag-IBIG. No new issuance of UCPB eMoney cards for Pag-IBIG Fund will be done. LANDBANK Cash Cards shall be issued to new Pag-IBIG Fund loan availers.