How To Open A U.S. Dollar Savings Account With LandBank Digital Onboarding System (DOBS)

Before you open a foreign currency deposit account, evaluate first the need and importance of having one. 

How to apply for a U.S. Dollar Savings Account through DOBS:

1. Visit LandBank's Website: https://www.landbank.com/. Hover over the Deposits menu, select the Dollar, then choose the US Dollar Savings Account.

2. Keep scrolling down, and you will see that I'd like to apply now! Click the Forward Arrow image. It will proceed you to another webpage.

3. Below is the image of the Digital Onboarding System. ​From this page, you may choose what type of account you'd like to open. In this case, we will choose the Personal Individual Account, click Open An Account. ​It will proceed you to another webpage.

4. Complete and fill out the online application form. Here's the good thing, you may save your application and continue it during your free time.

5. Once you complete the fill out the online form application, you will proceed to another web page that acknowledges your application. You may print out or screengrab this form.

6. You may now proceed to any LandBank Branch near you and present your valid ids and supporting documents. An e-mail and/or SMS shall be sent to give you updates on the status of your application. Please note that the account application via DOBS is only valid for 30 days.​

Take Note: Much better if you bring the valid id that you used in the online form application.

Pros

• ​Minimum Initial Deposit: $ 100
• Required Minimum ADB: ​$ 100
• Required Daily Balance to Earn Interest: $ 500

Cons

• It only comes with a passbook, no atm card.
• ​PDIC Insurance​: PhP 100,000 in US Dollar equivalent (Maximum deposit insurance per depositor). Take note: This is based on my passbook.

You can also read related topic: Best Dollar Savings Accounts For US Dollar Check Deposit In The Philippines