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THE FIRST IS NOW THE LARGEST BancNet pioneered ATM networking in the Philippines in 1990 with eight banks in the loop: Allied Banking Corporation, China Banking Corporation, Citytrust, Interbank, Metropolitan Bank and Trust Company, Philippine Commercial International Bank, Rizal Commercial Banking Corporation and Security Bank Corporation. Other financial institutions like Citibank N.A. and Philbank eventually joined the network. Today, BancNet is the largest ATM consortium in the country with 47 member banks and subscribers and 2 affiliate switch networks. Boasting over 6 million cardholders, it also enjoys the largest volume of transactions with the number increasing dramatically every year since its inception. BancNet has also interconnected with the two other major ATM networks in the country- first with Megalink in 1993, then with ExpressNet in 2006. Now, BancNet cardholders enjoy an even wider access to over 9,000 ATMs nationwide. IT'S ALL ABOUT MAKING INNOVATIONS BancNet expanded its services starting in 1993 when it introduced Bills Payment through the use of the ATM. This facility gives cardholders the convenience of paying their bills- utilities, credit cards, insurance, cable TV and telecommunications, and even give donations- anytime without having to go to payment centers. Payment at Point-of-Sale (POS) using the ATM card was introduced in 1994, allowing cardholders to shop, buy groceries and gas up at accredited merchants nationwide without cash.
With BancNet’s string of innovations, it has remained true to its mission of making banking easier and more secure for its member banks and cardholders, and it will no doubt continue to lead the industry as the only multi-channel, multi-bank payment network in the country.
Our mission and vision: BancNet is the leading electronic network for the convenient, reliable, efficient, and secure delivery of financial and related services for member institutions, affiliates, and customers locally and globally, through outstanding corporate governance, synergy of resources and the best utilization of technology. BANK MEMBERS
Aurora Integrated Multi Purpose Cooperative l Community Rural Bank of Dapitan l Cooperative Bank of Quezon Province l Entrepreneur Bank l Gubat St. Anthony Cooperative l Metro Ormoc Credit Cooperative l National Confederation of Credit Cooperative l News Multi-Purpose Cooperative l Rural Bank of San Mateo l Visayas Cooperative Central Fund Federation l Zambales Rural Bank AFFILIATE SWITCH NETWORKS
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