RMC No. 49-2009 — Publishes the full text of letter from the Land Bank of the Philippines regarding the features and charges in deposit accounts which will be implemented effective October 1, 2009 Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City August 25, 2009 REVENUE MEMORANDUM CIRCULAR NO. 49 - 2009 SUBJECT: Publishing the full text of letter from the Land Bank of the Philippines regarding the features and charges in deposit accounts which will be implemented effective October 1, 2009 TO : All Internal Revenue Officials, Employees and Others Concerned For the information and guidance of all concerned, quoted hereunder is the full text of letter from the Land Bank of the Philippines: "LAND BANK OF THE PH ILIPPINES ISO 14001 CERTIFIED Official Depository of the Republic of the Philippines BIR TAX REFUND DEVOLUTION (F105) BIR ROAD DILIMAN QUEZON CITY QUEZON CITY II II II II II II II II II II II II II II II II II II II II III II II II II II II II II II II II II II II II II II Dear Valued LANDBANK Depositor, Please be informed of the following features and charges in our deposit accounts effective October 1, 2009: A. New Deposit Requirements of Regular Passbook (Peso) Savings Deposit Account INDIVIDUAL ACCOUNTS Deposit Requirements Amount Minimum Initial Deposit P 10,000 Required Minimum Average Daily Balance P 10,000 Required Daily Balance to Earn Interest P 10,000 Accounts affected by the new deposit requirements have an option to increase their ADB to avoid service charges. Existing Regular Peso Savings Passbook Accounts can also be converted to an ATM account on or before October 1, 2009. B. LBP Fees and Charges � Peso - Savings Account, Current Account, Easy Savings Plus (ESP) � US Dollar - Savings Account

-2 - Features / Fees Peso US$ Accounts Savings Fee For Falling Below the Required Average Daily Balance (ADB) Account Closing Fee (within 30 days from opening of account) P200 Dormancy Fee P200 $5 Interbank ATM Withdrawal Fee (including Cash Card) P200 P200 Fee For Printing And Reprinting SOA / Bank Statement P 10 Holding Fee For Requested Statement of Account (SOA) / Bank P20/page $5 Statements Not Claimed / Picked -up Within A Month - P100 P20/page P100 C. Issuance of Bank Statement Effective October 2009, we shall no longer issue bank statements for ATM savings accounts. We advise you to enroll your ATM accounts in our internet banking facility (iAccess) where you can view, monitor and print your transaction history or enroll in our phone banking facility (Phone Access) to inquire your deposit balances, transactions and request your bank statement. Moreover, you may request your depository branch for a copy of your bank statement but with a fee of P20/page and holding fee of P100, to be debited from your account if not claimed/picked-up within a month. For more details or inquiries, please visit your LANDBANK depository branch. You may also contact the following numbers to learn more about our other banking facilities which can make banking transactions even easier and more convenient for you: � Phone Access (phone banking facility) - 405-7000 or 1-800 -1 0-405 -7000 (toll free) � iAccess (internet banking facility for individual depositors) weAccess (internet banking facility for institutional depositors) - 405-7800 Thank you for your continued patronage. LANDBANK Plaza, 1598 M. H. del Pilar corner Dr. J. Quintos Sts., LAND BANK OF THE PHILIPPINES " Malate, Manila 1004 � Tel. Nos. 522-0000 � 551-2200 � 450-7001 www.landbank .com All concerned are hereby enjoined to be guided accordingly and give this Circular a wide publicity as possible. (Original Signed) SIXTO S. ESQUIVIAS IV Commissioner of Internal Revenue CCK _______ TMA _______ ZBC _______ LPO _______ MES _______

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