The state-run Land Bank of the Philippines (Landbank) has announced the launch of a new digital savings account, GoBayani, aimed at promoting financial independence among overseas Filipino workers (OFWs).
According to a Phil Star report, GoBayani will enable OFWs to access a range of digital banking services, including online fund transfers, bills payments, and government transactions, all from their mobile devices through the Landbank mobile banking application (MBA).
Lynette Ortiz, Landbank’s president and CEO, emphasized the goal of the new digital product. “The GoBayani account is designed to help OFWs save and grow their money, paving the way toward financial independence,” she stated.
One of the key features of GoBayani is its accessibility. OFWs can open a savings account with no initial deposit or maintaining balance requirements using their smartphones via the Landbank MBA.
Ortiz highlighted the bank’s commitment to meeting the demand for digital solutions. “Investing in our digital infrastructure forms part of our response to the increasing demand for convenient digital solutions,” she said.
In addition to GoBayani, Landbank offers other digital products through its MBA, such as the Piso Plus basic deposit account and a regular Landbank Visa debit account. The MBA also provides services like online fund transfers, bills payment, balance inquiries, and salary loan services.
