BancNet
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BancNet (also spelled Bancnet) is an interbank network connecting the ATM networks of twenty-eight banks in the Philippines. It is the second-largest interbank network in the Philippines in terms of users and transactions, but is the largest interbank network in terms of member banks.
At present, BancNet has 4 million members with over 2,000 ATMs open 24 hours a day.
With a reputation for continuous service, BancNet adopted a motto as the "Non-Stop Banking Network". In recent years, most notably with the formation of BancNet Online, another motto was born to make BancNet known for its convenience, speed and reliability: "I-BancNet Mo!" (Use BancNet!)
History
BancNet was founded on July 17, 1990 as the Philippines' first ATM consortium when the ATMs of eight banks, namely PCI Bank (now Equitable PCI Bank), Security Bank, Chinabank, RCBC, Allied Bank, Metrobank, International Corporate Bank (now part of Unionbank), and Citytrust Savings Bank (now BPI Family Savings Bank), formed BancNet. Over time, other members joined the BancNet bandwagon.In 1993, BancNet made an alliance with MegaLink (which made another alliance with Expressnet in 1997), giving clients whose banks are part of both networks access to any of their ATMs, which total about 4000 nationwide. In the same year, BancNet introduced the "Bills Payment" scheme, which let BancNet cardholders pay their bills and give donations to charitable organizations via an ATM.
A year later, BancNet introduced the Point-of-Sale (POS) service which allowed BancNet cardholders to shop and pay for the items they buy using their Bancnet ATM card, treating their ATM card as a debit card. The service is known as the BancNet Payment System, or BPS.
In 1997, BancNet started offering website hosting, email and surfing services to member banks at affordable rates. This led to the rise of the websites of member banks. A short while later, BancNet introduced the Interbank Fund Transfer system (IBFT) via ATM. This allowed BancNet cardholders to transfer money to another Bancnet account.
In 2002, BancNet started its online banking and payment gateway system, which led to users being able to use their computers to access BancNet services.
On July 13, 2005, BancNet and Expressnet have agreed to interconnect.
Members
BancNet is the primary network of the following banks listed below:
| Bank | Membership date | ATM | |
|---|---|---|---|
| Allied Bank | July 17, 1990 | Automated Teller |
| Asia United Bank | 1997 | Preferred ATM |
| Banco Filipino | 1994 | BF Cash Card ATM |
| Banco San Juan | 2002 | Kidlat Teller |
| Centennial Savings Bank | 1998 | Centennial ATM |
| Chinabank | July 17, 1990 | Tellercard ATM |
| Chinatrust Commercial Bank | 1998 | Chinatrust ATM |
|
| Citibank | July 17, 1990 | Citibank ATM |
| Citibank Savings | 2005 | ||
| Citystate Savings Bank | 1997 | City Cash ATM |
| East West Bank | 1994 | ATM Access |
| Equitable PCI Bank | July 17, 1990 | Fasteller |
| Export and Industry Bank | 1997 | ExperTeller |
| Malayan Bank | 1997 | Malayan Bank ATM |
| Manilabank | 1999 | Golden Teller |
| Merchants Savings and Loan Association | 1995 | Merchants Bank ATM |
| Metropolitan Bank and Trust Company | July 17, 1990 | Metrobank E.T. |
| Orion Bank | 1997 | Orion Bank ATM |
| Philippine Bank of Communications | 1994 | Quick Cash ATM |
| Philippine Postal Savings Bank | 2004 | PostalCash ATM |
| Philippine Savings Bank | 1994 | PSBank ATM |
| Philtrust Bank | 1995 | Philtrust Bank ATM |
| Real Bank | 2004 | Real Cash ATM |
| Rizal Commercial Banking Corporation | July 17, 1990 | myRCBC ATM |
| RCBC Savings Bank | 1997 | ||
| Security Bank | July 17, 1990 | Cashlink |
| Standard Chartered Bank | 1996 | Standard Chartered ATM |
| World Partners Bank | 2002 | World Partners Bank ATM |
Former members
- Citytrust Savings Bank
- International Corporate Bank
- United Overseas Bank
See also
External links
- [BancNet]
| Philippine interbank networks
|
|---|
| BancNet | ENS | Expressnet | MegaLink | Nationlink |
| Interbank networks by region | |
| Multiregional: | Cirrus | Maestro | PLUS |
| Africa: | 123 | CashNet | Interswitch |
| Asia Pacific: | 1Link | ALTO | Artajasa | atm5 | ATM BCA | ATM Bersama | BancNet | Cashnet | CashTree | CSC | ENS | ETC | Expressnet | Himbara | JETCO | Link | MEPS | MegaLink | MITR | MNET | Nationlink | Superkasa | UnionPay |
| Caribbean: | ATH | Midas | Unired |
| Europe: | 4B | Altın Nokta | BankAxept | BKM | CB | DIAS | Eufiserv | Euronet | Multibanco | Ortak Nokta | Otto | ServiRed | StarNet |
| North America: | Credomatic | Interlink | Interac | NYCE | Pulse | RED | Red Total | SHAZAM | STAR | The Exchange |
| South America: | Interbank | Link | Redbanc | Telebanco | Unicard |
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