In the Philippines, there are several banking networks or groups that probably you have encountered before. If you are an employee for a certain company, I assume you have heard or read the word “BancNet”, “Megalink”, and “ExpressNet”.
These stuffs are the popular banking networks in the Philippines that connects the ATM networks of one bank to other member banks. That’s why it is possible for you to withdraw money even if the ATM is not belongs to your bank.
Inter-bank network is very helpful not only to bank customers but for the bank itself as well. Bank customers can withdraw or make some certain transactions even the ATM is not directly the bank where she has an account. At the same way, banks can give convenience and access to their customers by allowing them to withdraw their money in different ATM of member banks of BancNet.
What is BancNet?
BancNet was established way back in 1990 as a consortium of 8 Philippine banks, namely: Chinabank, Security Bank, PCI Bank (now BDO), RCBC, Metrobank, Allied Bank, CityTrust Savings Bank (now part of BPI) and International Corporate Bank (now part of Union Bank of the Philippines). Currently, it has 52 member banks with more than 4,000 ATM link to each other and over 10,000 POS terminals nationwide.
If you’re bank is a BancNet member, you can transact with ATM, Internet, mobile phone and POS terminals anytime and anywhere. There are also other services that you can do through BancNet just like paying bills through Internet, interbank funds transfer, balance inquiry, prepaid and Internet reloading, remittance of taxes and SSS contributions and loan payments, checkbook re-order, statement request and many more.
Members of BancNet
BancNet has 52 member banks as of this writing. The banks are listed in the official website of BancNet at http://www.bancnetonline.com. Below you can see its member banks, its affiliate switch networks and subscribers.
1. Allied Bank
2. Bank of Commerce
3. CITI Bank
4. Enterprise Bank, Inc.
7. Postal Bank
8. Real Bank
9. Tong Yang Bank
10. ChinaTrust Bank
11. CARD Bank, Inc.
12. City Savings Bank
13. Equicom Savings Bank
14. Malayan Bank
15. Philippine Business Bank
16. Premiere Development Bank
17. Robinsons Savings Bank
18. Philippine Veterans Bank
19. Security Bank
20. Asia United Bank
22. Citystate Savings Bank
23. Export Bank
25. Philippine National Bank
26. QCRB Bank
27. Rural Bank of Cebu South
28. Wealth Bank
29. Banco San Juan
30. ChinaBank Savings
31. Deutsche Bank
36. Standard Chartered Bank
37. World Partners Bank
38. Mabuhay Bank
39. CITI Bank
40. East West Bank
42. Opportunity Kauswagan Bank
43. Philtrust Bank
44. RCBC Savings Bank
45. Sterling Bank of Asia
The below banks and financial institutions are the subscribers of BancNet.
1. AMA Bank
2. News Multi-Purpose Cooperative
3. Aurora Integrated Multi-Purpose Cooperative
4. Optimum Development Bank, Inc.
5. Cantillan Bank
6. Palompon Community Multi-Purpose Cooperative
7. Community Rural Bank of Dapitan
8. Perpetual Help Credit Cooperative, Inc.
9. Cooperative Bank of Nueva Vizcaya
10. Rural Bank of Dulag (Leyte) Inc
11. Cooperative Bank of Quezon Province
12. Rural Bank of Paracale, Inc.
13. Cooperative Bank of Tarlac
14. Rural Bank of San Mateo
15. Entrepreneur Bank
16. Saviour Rural Bank
17. Gubat Saint Anthony Cooperative
18. Sta. Cruz Savings and Development Cooperative
19. Holy Child Multi-Purpose Cooperative
20. Tayabas Multi-Purpose Cooperative
21. Loay Community Multi-Purpose Cooperative
22. Visayas Cooperative Central Fund Federation
BancNet member banks are also members of PDIC so you are sure that your deposits are insured up to P500,000. You can withdraw or make other transactions with other member banks of BancNet.
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