Banking & Finance

Social pensioners can now conveniently receive their cash grants and perform other banking transactions, as the Land Bank of the Philippines (LANDBANK) continues to ramp up the distribution of Prepaid Cards to vulnerable sectors. Lucy Cabalan can now conveniently receive cash grants and perform other banking transactions, such as cashless purchases and online fund transfers, by using the LANDBANK Prepaid …

To maintain the integrity of Philippine currency, the Bangko Sentral ng Pilipinas (BSP) retired 519.93 metric tons of unfit, demonetized, mutilated, and counterfeit (UDMC) coins through defacement. The defacement process was undertaken beginning October 2021 until September 2022. Coin defacement, done via machine, involves a process that alters the surfaces of coins to prevent them from being recirculated. The defaced coins may then be recycled into …

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla underscored the need to smoothen movements in the foreign exchange (FX) rate during the “The Asset 17th Philippine Summit” held recently in Taguig City. “You got to come in and reduce the volatility,” explained Governor Medalla, who highlighted that BSP’s participation in the market centers on promoting FX rate stability and the country’s …

In various meetings held in Washington, D.C., USA, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (in photo, center) said that the BSP is focused on bringing inflation back to a target-consistent path, in line with its core mandate of price stability. The meetings were held at the sidelines of the International Monetary Fund (IMF) and World Bank Group …

Prepaid cardholders of the Land Bank of the Philippines (LANDBANK) can now transact for free from ATMs in selected 7-Eleven convenience stores.   In addition to holders of LANDBANK Regular ATM Cards and Debit Cards, customers can also use their LANDBANK Prepaid Cards to perform cash withdrawal and balance inquiry free-of-charge in 1,980 7-Eleven ATMs in Metro Manila, CALABARZON, Pampanga, Bataan …

The Land Bank of the Philippines (LANDBANK) announced that all new customers applying for a LANDBANK deposit account shall be provided a cardless account, effective 04 October 2022.  New account holders will be enrolled in the LANDBANK iAccess and Mobile Banking App (MBA), and will benefit from having convenient access to digital banking services, including inter-bank transactions via InstaPay and …

In partnership with the Department of Agriculture (DA), the Land Bank of the Philippines (LANDBANK) continues to ramp up the distribution of cash grants to farmer-beneficiaries under the Rice Competitiveness Enhancement Fund – Rice Farmers Financial Assistance (RCEF-RFFA) Program.  As of 30 September 2022, LANDBANK has produced Intervention Monitoring Cards (IMCs) for 54,188 beneficiaries nationwide, of which 26,523 hail from …

The Regional Trial Court (RTC) of Cabugao, Ilocos Sur (Branch 24) convicted former officers of the now closed Rural Bank of Magsingal, Inc. (RB Magsingal) for violation of Republic Act (RA) No. 8791 (The General Banking Law of 2000), in relation to RA No. 7653, as amended (The New Central Bank Act), and the Manual of Regulations for Banks (MORB) issued by the Bangko Sentral ng Pilipinas (BSP). RTC …

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla  (above) said banking regulations are accompanied by initiatives that  support the country’s shift from a cash-heavy to a cash-lite economy. During  a recent conference by “The Asian Banker,” the Governor explained that the  BSP is pursuing these initiatives under its Digital Payments Transformation  Roadmap. The Roadmap aims to digitalize at least …

Want to earn money? Want the secret to stay on budget? Want to start investing? Interested to learn the differences between stocks and bonds? Want to know how much you need to retire early and in style?  We want to learn. And clearly, we need to learn—if we based it on the Bangko Sentral ng Pilipinas (BSP) 2019 Financial Inclusion …