If you have zero balance on your bank account in LandBank for more than a two years or if your bank account didn't maintain the required minimum maintaining balance for a long period of time, chances are your account will be a candidate for a closure. LandBank will close those type of accounts or accounts that are dormant or inactive for more than two years. Then, here you go, you want to use that inactive account again. Can you renew that inactive or closed account (Passbook or ATM) in LandBank?
According to LandBank's Customer Service Representative, once an account is closed, it cannot be reopened or reactivated. You will have to open a new account (with new account number) with you LandBank branch.
If you want to open a new account, don't forget to bring the requirements:
Two (2) valid id's
Two pieces 1"x1" photo id (recent and formal photo is recommended)
Php 500 initial deposit (for account with ATM access)
TIN or Tax Identification Number, if employed
Proof of Billing (e.g. Landline/Internet bill, electricity bill, water bill, etc.)
To avoid your bank account being closed, you must maintain the required minimum balance, transact to your account (deposit or withdraw) at least once a year. Dormant or inactive LandBank accounts for more than two years could be closed or could be charged a dormancy fee.
Enroll your LandBank account to its internet banking facility called LandBank iAccess Retail Internet Banking for easier and more convenient access of your account. With internet banking, you can monitor you LandBank account anytime and anywhere and you can also pay your bills online.
It's better to maintain the minimum balance and earn interest than to pay the penalty of falling below maintaining balance.
Do you have any concern or problem with your LandBank (Passbook or ATM) account?
Share This Post
If you like this article, we would really appreciate if you share this on Facebook, Twitter, or on any social media channels. Every share makes a huge difference and helps us write more articles like these. Thank You!
"Can I renew or reactivate closed bank account in LandBank?" was written by admin under the Banking category. It has been read 11731 times and generated 5 comments. The article was created on 21 July 2016 and updated on 21 July 2016.
Warning! When posting comments, strictly observe correct spelling. Avoid incomplete words such as TY (as Thank You), Pls as Please, gud as good, dpt as dapat, etc. You can comment in English or Tagalog. If you will not follow this simple instruction, your comment(s) will not be accepted or published.
Cheryll may deocampo(04 February 2017 2:29 PM)
hi... i recently transferred money to my mother's account which was inactive for a couple of months... she tried to withraw it but the machine showed "transaction cannot be found". Is her account considered dormant account and what will happen to the money that i transferred can we still withraw it?
cheryll, you need to go to your bank and tell that matter. Bring with you your mother and her valid ID (government-issued).
Liezl J. Gomez(25 August 2016 2:06 PM)
My deceased father has a passbook, almost 8 years wihout using it but it has a remaining balance of 600+ . Does it still active or not??
Mario Bueza Biso(28 April 2016 2:58 PM)
What is the requirement of closing an ACTIVE Bank Account? The said ACTIVE Bank Account still have a deposit amount in it, In FACT, the said ACTIVE Bank Account is a Payroll Account where pension is monthly deposited.
With the facts referring to ACTIVE Bank Account as above-stated, Is it possible to Close an ACTIVE Bank Account?????
Pedilaine Suarez(17 October 2015 8:31 PM)
I have an IAcces account with quite a substantial amount of around 500,000 pesos in it in landbank and becuase i am now residing in Australia on a partner visa and the account has not been used for 2 years they have made it dormant , we kept this money in the account for my mother incase of emergencys I recieved no email to let us know about the account being made dormant which was about 3 weeks ago and would like to know what i can do ? As far as i know they are supposed to notify of a closure of your account ?