I finally submitted all my employment requirements two weeks ago and was told early last week that I can already open a Land Bank payroll account. This means that I should receive my initial pay in about a month. Hooray!
This isn't the first time I've had a Land Bank payroll account though, but this is the first time I've enrolled in its iAccess online facility.
My first impression of iAccess is that it looks very dated. It had a very 70-ish vibe going on but I don't think it was being cheeky or intentionally trying to be retro. But what it lacked in trendiness or wow factor design-wise, it made up for with its many useful and practical features.
As with most online banking facilities, you can also pay your bills online with iAccess. I was happy to note that all of the utilities (e.g. Meralco, PLDT and Globe) and credit cards (e.g. RCBC Bankard and Metrobank) that I usually pay online using my Metrobank online account were also available in Land Bank's iAccess. Another plus factor was that the merchants were already laid out alphabetically in a dropdown menu and there was no need to enroll a merchant in a brick and mortar branch, as what BPI requires. I know that the enrollment with BPI is only a one-time deal, but it's still a hassle nonetheless.
Sadly though, Pag-ibig wasn't available for online payment, which is strange because Land Bank accepts over the counter payments for Pag-ibig housing loans. So why isn't it available online then? Very strange indeed.
You can also schedule future bills payments and monthly fund transfers. This is a good feature for recurring bills with fixed amounts, like our PLDT bill. And because this is a payroll account, simply schedule your recurring bills 2-3 days after your salary is credited to your account so you can be sure that you'll always have enough money to fund your bills.
But what I really loved was the interbank funds transfer feature. With this baby, I no longer have to withdraw money from my Landbank account and line up in Metrobank (my checking account) and BPI/BPI Save Up (my emergency funds) afterwards to deposit money. After enrolling my Metrobank and BPI accounts, I can simply transfer funds from my payroll account to my other accounts without ever setting foot in a bank. Woohoo! (Update: Unfortunately, interbank fund transfer is not available in iAccess. But it is available in the Mobile Banking app! Click here for my post on interbank fund transfer using the Lanbank Mobile Banking app)
As with bills payment, you can also automate funds transfer so it's easier to build up your emergency funds since you can top it up on a monthly or twice a month, again scheduling it to coincide with when your pay gets credited to your account.
What I don't love about iAccess though is that my account with it only contains a Php100 maintaining balance as of the moment. However, that's not really its fault now is it?:p
But seriously though, I'm very impressed with Landbank iAccess and if they can snag Pag-ibig and COL Financial as online payment merchants, then it would have successfully met all of my online banking needs. Now who says government services can't go toe to toe with their private counterparts?!