LandBank account holders can now transact at 7-Eleven ATMs sans service fees

State-run Land Bank of the Philippines announced on Wednesday that its account holders can now transact at the automated teller machines (ATMs) in 7-Eleven stores free of charge.
 
In a statement, LandBank said holders of its ATM, debit, and prepaid cards can perform cash withdrawals and balance inquiries without service fees at about 1,980 7-Eleven ATMs in Metro Manila, Calabarzon, Pampanga, Bataan, and Cebu.
 
Account holders can also enjoy an increased cash withdrawal limit of P20,000 per transaction, from the previous P10,000, it added.
 
“LandBank continues to leverage on strategic partnerships to accelerate financial inclusion in the country. We are committed to [expanding] the accessibility of our services, especially to the unbanked and underserved,” said LandBank president and CEO Cecilia Borromeo.
 
It said the latest development benefits the 8.3 million previously unbanked Philippine Identification System (PhilSys) Project registrants onboarded by LandBank in collaboration with the Philippine Statistics Authority, as of end-September 2022.
 
The bank said it is providing unbanked PhilSys registrants with their own LandBank transaction accounts “to bring more Filipinos into the formal banking system.”
 
LandBank prepaid cardholders also include about 10 million beneficiaries under the conditional cash transfer and unconditional cash transfer programs of the Department of Social Welfare and Development.
 
LandBank said it partnered with Pito Axm Platform Inc. (PAPI), the operator of 7-Eleven ATMs in the Philippines, in May of this year.
 
The 7-Eleven ATMs complement LandBank’s own network of 607 branches and 2,899 ATMs nationwide. — VBL, GMA News