Reference No. 2021-452
The Philippine Statistics Authority (PSA), the lead government agency in implementing the Philippine Identification System (PhilSys), partnered with the Land Bank of the Philippines (LANDBANK) to assist Filipinos traditionally excluded from the banking system to open their first transactional accounts. As of 21 October 2021, around 5.9 million registrants have been onboarded through the LANDBANK’s co-location with the PSA in designated PhilSys Registration Centers (RCs) across the country. Registrants can also download and open an account through the LANDBANKPay, an e-wallet account that they can use in the comfort and safety of their homes.
This initiative is in support of the Government’s goal to attain financial inclusion for all Filipino families.
“The partnership between the PSA and LANDBANK is proof of our commitment to economically empower every Filipino by making financial services within reach. Through PhilSys, we are paving the way towards the digital economy for our kababayans where they can easily make financial transactions and avail services,” said PSA Undersecretary Dennis S. Mapa, National Statistician and Civil Registrar General.
Emphasizing the importance of financial inclusion for all Filipinos, LANDBANK President and CEO Cecilia C. Borromeo said, “Bringing unbanked Filipinos into the financial mainstream lays the groundwork for inclusive growth, especially as we fast-track initiatives toward economic recovery and sustained development. Access to formal banking services encourages people to save money, repay loans, invest in financial products, and guide them to financial independence.”
As of 21 October 2021, LANDBANK is co-locating in 493 PhilSys RCs in 446 cities and municipalities nationwide, of which 25 RCs are within the National Capital Region (NCR). The PSA and LANDBANK are also anticipating more co-location RCs in NCR and in over 25 other cities and municipalities across the country.
Through this partnership, LANDBANK is issuing the LANDBANK Agent Banking Card to unbanked PhilSys registrants for free. This transaction account can be used to withdraw cash at ATMs and Point-of-Sale (POS) terminals, perform cashless transactions, do tap payments, shop online, and even receive government subsidies. They can also cash-in, cash-out, and transfer funds at any LANDBANK Branch or Agent Banking Partner.
For the latest on PhilSys, visit the official PhilSys website (https://philsys.gov.ph) or Facebook page (www.facebook.com/PSAPhilSysOfficial/). You may also reach the PhilSys Registry Office via hotline number 1388 or e-mail at info@philsys.gov.ph. For the online Step 1 registration, kindly go to https://register.philsys.gov.ph.
–PhilSys Registry Office
