Several clients from two of the biggest bank in the Philippines have reported irregularities in their accounts, creating a scare to all account holders, not only of these two financial institutions but also clients from other banks.
Two weeks ago, Bank of the Philippine Islands clients have reported unauthorized transactions from their accounts. The Ayala-owned bank said that the mispostings was due to a glitch in its system. Few days after, a similar problem was reported by account holders from Banco de Oro, which was attributed by the bank to ATM skimming. These glitches have prompted senate hearing.
Amid these controversies, government-owned Landbank of the Philippines have announced that it will be performing a maintenance upgrade and maintenance services this weekend. It urges its clients to do bank transactions earlier than June 24-25, 2017 because all LBP Automated Teller Machines (ATMs) will be unavailable on Saturday and Sunday. The maintenance downtime is scheduled starting at 10:30 PM of June 24, Saturday until 3:00 PM of June 25, Sunday.
LBP said that the downtime is due to the system upgrade and maintenance activities, which is part of the bank’s compliance to the Bangko Sentral ng Pilipinas’ mandate to adopt the EMV technology, a supposedly more secure than the widely-used magnetic strips in credit and debit cards.
During the scheduled downtime, clients will not be able to transact with Land Bank ATMs, Cash Deposit Machines, and other electronic banking channels including iAccess, weAccess, and Mobile Banking Applications. Clients will also not be able to use your Landbank debit cards, ATM and Cash Cards.
To minimize inconvenience, select Landbank branches will open on Sunday, June 25 for over-the-counter ATM withdrawals.
Read: LIST: Select Landbank branches to open on June 25, 2017