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September 24, 2023

LandBank empowers remote island beneficiaries with cash cards for convenient financial access

The Land Bank of the Philippines (LandBank) has successfully distributed cash cards to 2,357 beneficiaries of the Department of Social Welfare and Development (DSWD) in the remote islands of Caluya, located in the northernmost part of Antique province in Western Visayas.

The cash cards enable convenient cash withdrawals at the Jerique Grocery Store, a LandBank Agent Banking Partner (ABP) in Caluya, while the store’s mobile Point-of-Sale (POS) terminal will be deployed across the islands during scheduled payouts.

Additionally, the LANDBANK cash cards allow fund transfers, receive funds from other LANDBANK accounts, and facilitate cashless transactions at various accepting merchants.

As the main distribution arm of financial assistance from the National Government, LANDBANK serves beneficiaries of the Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs of the DSWD nationwide.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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