The LAND BANK of the Philippines issued a Client Advisory to address the message circulating in the social media regarding the supposed reason why the SRI is not yet credited in the individual accounts.
The said message purports that the reason why the SRI is still not credited to individual accounts is because of the Land Bank of the Philippines’ maintenance upgrade.
Land Bank of the Philippines denied the occurrence of such maintenance or upgrade of their system.
Below is the full Client Advisory of the said bank:
Please be advised there is no truth to the message below being circulated on social media:
“TO ALL PNP PERSONNEL PLS BE INFORMED THAT UR. SERVICE RECOGNITION. INCENTIVE WAS ALREADY DOWNLOADED TO THE LANDBANK OF THE PHILS BUT UNFORTUNATELY DUE HEAVY CASH TRANSACTIONS ON THE SAID BANK THIS MONTH, LBP HAD EXPERIENCED INCONVENIENCE, THIS REGARD, THEY NEED TO UPGRADE THEIR SYSTEMS WHICH WILL AFFECT OUR SRI’S THE LBP GENERAL MANAGER EXTENDS HIS APOLOGY TO US SINCE THIS IS BEYOND THEIR CONTROL, BUT THEY MAKE SURE THAT ALL TRANSACTIONS BACK TO NORMAL ON FIRSTWEEK OF JANUARY, PNP FINANCE SERVICE.”
It is not true that the Service Recognition Incentive (SRI) was downloaded to LANDBANK and that LANDBANK Management apologized for the heavy cash transactions.
The truth is, LANDBANK has received just this morning (December 23) from the Department of Budget and Management the Notice for Cash Allocation and the List of Due and Demandable Accounts Payable CD which contains the confirmed list of recipients from the Philippine National Police. Crediting of the SRI fund to PNP will be done today by LANDBANK, and will be available to recipients by Friday, December 27.
LANDBANK is not undergoing any system upgrade at the moment, and all systems are up to serve your banking needs.
Personally, I came across the said message (which has several varying versions) and I already suspected that it is not true. Just a quick look at the official Facebook page of PNP Finance Service would show that they did not issue any statement regarding the matter.
Also, the claim that it will be credited on the 22nd of December (according to the original version) is absurd, considering that there is no bank office on Saturdays and Sundays.
I am not feeling well these past few days, that’s why I failed to make an article about it before, though I was contemplating to draft one. In the end, the Land Bank of the Philippines should be praised for the immediate action and advisory to clear things up.
Also, the same advisory now gave a specific date of crediting of SRI: December 27, 2019 (Friday).
As to how much and any other question about SRI, you may visit the previous article.