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Landbank Savings Account
Once you’re decided what type of savings account in Landbank you’re going to open (ATM or Passbook), visit the nearest Landbank branch in your area. Make sure you bring the requirements. Account Type Choose Account Type Savings Account Checking Account For Landbank ATM cardholders, please make sure to enter your member number before you click Submit button.
This is a question and answer portion. An answer is provided after the question. You can also ask related questions in the comment below. We will be happy to answer those questions.Dear affordableCebu,
How many digits does LandBank Account Number have (example: LandBank ATM Debit Card). I can see my name on the ATM card but where can I find the account number? Is it the number on the middle part or in the lower part?
- Henry
Answer
Hi Henry, if you have a Landbank ATM card, you may take a look at the front side of it. Your account number is printed below your name (the Account Name). It is composed of 10 digits. Here's a screenshot of a real LandBank ATM card where you can locate its account number:Photo: LandBank ATM card (Visa Debit)
You can also find an account number on your LandBank passbook account.
If you encounter a financial transaction wherein you are required to enter a 12, 13, or 14-digit LandBank account number, just add zeros at the beginning of that account number. The number of digits will increase due to the increasing supply of LandBank accounts.
Tips
- Have a physical written/printed copy of your LandBank account number keep in a safe and private place. In case you lost your ATM card/Passbook or in case you forgot your LandBank account number, you still have a copy of that account number.
- If possible, memorize your LandBank account number. In that way, it will be easy for you to write your account number every time you deposit or withdraw over-the-counter.
Do you still have any problem finding your LandBank account number?The required minimum maintaining balance of LandBank ATM Card is Php 500 per month. If you fall below this maintaining balance, you will be charged Php 200 as service fee. So to avoid the service fee, you must maintain the Php 500 in your ATM account. Php 200 is big. With that money, you can buy two (2) Jollibee spaghetti with Yum.
Picture of a LandBank ATM Card
The old LandBank ATM Card
Landbank Online
LandBank ATM Card
How is Maintaining Balance Computed in LandBank?
Minimum maintaining balance of Landbank is the average daily balance (ADB) per month. You can compute the average daily balance in one (1) month through:
- Add the daily balance in 1 month.
- Day 1 balance + Day 2 balance + Day 3 balance...until Day 30 or 31 balance
- Divide its total balance by 30 or 31 (total number of days in a month).
- Total Balance in 1 Month ÷ 30 or 31 days = Average Daily Balance (ADB) in a month
Let's give an example. Let's assumed, you open an ATM account on day 1 in which you deposit Php 500. And on day 2, you deposit again Php 500. So, you have Php 1,000 balance on day 2. Then, on day 3, you withdraw Php 400 and your balance is now Php 600 on day 3. The deposit and withdrawal transactions continue on the succeeding days. See table below.
| 2000 | |
| 5 | 1000 |
| 6 | 1000 |
| 7 | 1000 |
| 8 | 2000 |
| 9 | 2000 |
| 10 | 2000 |
| 11 | 2500 |
| 12 | 1000 |
| 13 | 1000 |
| 14 | 500 |
| 15 | 0 (zero) |
| 16 | 2000 |
| 17 | 2000 |
| 18 | 2000 |
| 19 | 2000 |
| 20 | 2000 |
| 21 | 3000 |
| 22 | 400 |
| 23 | 400 |
| 24 | 400 |
| 25 | 4000 |
| 26 | 4000 |
| 27 | 4000 |
| 28 | 2000 |
| 29 | 2000 |
| 30 | 2000 |
| _________ 30 days | ______ 50,300 = Total Balance in a Month |
50,300 = total daily balance in a month
________
1,676.67 = average daily balance (ADB) in a month
In this case, you cannot pay for a service fee since your ADB is Php 1,676.67 which is above the required maintaining balance.
Take note on day 15, you've withdrawed all your money and the remaining balance went to zero (0). Even if you withdrawed all the money in your ATM account in a given day, you cannot be charged a service fee if the computed ADB in a month is above the required minimum maintaining balance.
Landbank Savings Account Balance Inquiry
Initial deposit to this ATM is also Php 500. This ATM card can earn an interest rate of 0.250% per year. You should maintain the Php 500 in your ATM account in order to earn that interest. You are only allowed to withdraw a maximum amount of Php 50,000 per day.
Landbank Savings Account Requirements
Deposit to this ATM can be done through over-the-counter. While withdrawals can be done both over-the-counter or through Automated Teller Machines (ATM) with BancNet, Megalink or ExpressNet logos.