When the idea of putting up BancNet came about in 1990, the compelling need among the banks was to put up a consortium where they could share the resources of an ATM network to benefit their cardholders and at the same time minimize investment costs. Back then, the use of ATM was a totally new mindset for the depositor who had to be convinced of the convenience and safety of the new device. Balance Inquiry and Cash Withdrawal were the only known transactions among a few who dared break the tradition of doing over-the-counter banking.

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Over the years BancNet has expanded its Network across 31 Member Banks to become the Philippines largest ATM network with over 2,500 ATMs and serving over 5 million cardholders.

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In keeping abreast with the evolving needs of bank clients, BancNet has introduced several innovations that have transformed the ATM card to a multifunction Debit Card which has now become an indispensable part of people’s wallets so much so that it is looked upon as a Swiss Army knife for banking for its many uses.

Aside from the traditional cash withdrawal & balance inquiry service, BancNet ATMs also have a wide range of services available on the ATM machine. These are: Bills Payment, Fast Cash, Checkbook Request, Credit Card Cash Advance, Intra/Inter Bank Funds Transfer and Prepaid Phone reload.

Through BancNet’s interconnection with the other ATM consortia in the country- Expressnet and Megalink, and International Card Networks such as VISA, BancNet provides cardholders not only the widest nationwide access to their accounts but worldwide convenience as well. BancNet is also the exclusive Philippine gateway of China Union Pay, China's largest ATM network, allowing access to the nearly 1 billion ATM cardholders of that country.