How to Open Business Checking Account with Landbank

What is Landbank Checking Account

A non-interest bearing peso account, also known as Demand Deposit Account wherein deposits are made over-the-counter, while withdrawals are made through the issuance of a check.

If you are running a business, Landbank may allow you to encash payments made to your name but those checks made to your business name should need a checking account.

Opening a checking account with Landbank is as easy as opening a regular savings account as long you have all the necessary requirements and an initial deposit of 10,000 pesos.

Benefits of Checking Account with Landbank

There are many advantages of opening a checking account and one of them is convenience. When you have a checking account you can easily deposit check payments and you can even send someone from your staff to do on your behalf.

Another obvious benefit is security. With a checking account, you can be sure that your money is safe from any disaster, you can keep track of your expenses, and there is no transaction limit.

Checking Account Requirements

Below are the requirements, and things to do when applying for a checking account with Landbank.

Initial Deposit: 10,000 Pesos

Documentary Requirements:

✅ DTI Permit

✅ Local Business Permit

✅ BIR Registration Certification

✅ Two (2) valid identification cards of the signatory (Optional)

Please make sure your business details are correct on all these documents as Landbank will check them thoroughly and spot any discrepancies

To open a checking account with Landbank follow these steps:

✅ Schedule a visit at any Landbank branches near you

✅ Make sure to bring the following: CCTS card, Faceshield, Facemask, Ballpen, photocopy of the required documents and original, 10k pesos cash or check

✅ Fall in line early

✅ Inform the guard that you intend to open a checking account for business

✅ Get your priority number and wait for your turn

✅ Talk with the teller and submit those requirements

✅ Follow the instructions and ask questions if something is unclear to you

✅ You should receive your passbook within a day or so.