Filipino leaders enjoin OFWs to stay at home
Overseas Filipinos workers (OFWs) now have the option to transfer funds online, pay bills and perform e–commerce transactions using GoBayani savings launched on Tuesday (June 4, 2024) by state-owned Land Bank of the Philippines (LandBank). Image Credit: Gulf News archive

Manila: “GoBayani”, a digital deposit account that gives overseas Filipino workers access to Land Bank of the Philippines’s (LandBank) digital banking services, has been rolled out on Monday.

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In a statement on Tuesday, the state-owned bank said it has launched its GoBayani savings which enables OFWs to do the following:

  • Open a GoBayani savings account in minutes, using the Landbank Mobile Banking App (MBA)
  • No initial deposit and maintaining balance needed when opening a GoBayani account via smartphones
  • Send money to their families via fund transfer
  • Perform e-commerce transactions
  • Receive remittance via Visa Direct through Visa partners abroad, and
  • Pay bills and other dues.

Paying contributions to Pag-Ibig, SSS, PhilHealth

An upcoming service will also include the ability to pay monthly contributions to Pag-Ibig Fund, Social Security System, and PhilHealth, the bank stated.

Landbank GoBayani is a digital deposit account that provides Filipinos abroad access to the bank’s digital banking services and perform their transactions online, such as sending money to their families via fund transfer.

“We are cheering on our kababayans abroad to save and grow their money through LandBank GoBayani. We want to support every step of their journey towards financial independence for them and their families back home,” LandBank president and CEO Lynette Ortiz said in a statement.

Overseas Filipinos can open a GoBayani savings account with no initial deposit and a maintaining balance via their smartphones through the new straight-through account opening feature of the LandBank Mobile Banking App.

Digital solution

“Investing in our digital infrastructure forms part of our response to the increasing demand for convenient digital solutions. We are continuously enhancing our digital offerings to deliver a seamless banking experience to our customers and expand financial access to all,” Ortiz said.

Aside from GoBayani, customers can also open a Landbank Piso Plus basic deposit account and a regular Landbank Visa debit account through the MBA to help build their savings and start their financial journey.

LandBank said they will promote the GoBayani and other digital banking services to OFWs in the UAE, Japan, Hong Kong and Taiwan this month.

How to open a GoBayani account?

This can be done by:

  • Downloading/using the Landbank Mobile Banking App (MBA).
  • Having a secure Internet connection
  • Presenting valid ID cards: i.e. Philippine Passport, Driving Licence, SSS, UMID, PRC ID, or PhilSys ID.

Free fund transfers

The Landbank MBA is a free app which offers online fund transfers, bills payment, balance inquiry, and salary loan services. Using the MBA, customers also enjoy free fund transfers to other banks via InstaPay and PESONet for the first three transactions in a day worth Php1,000 and below.

GoBayani is the latest innovation from LandBank, which is also the parent company of the all-digital OFW Bank. Prior to her role at LandBank, Ortiz was the first Filipino CEO of Standard Chartered Bank (SCB) Philippines.