MANILA -- 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. (LANDBANK)