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Corporate > POS Cash Out

What is Cash Out?

BancNet's Cash Out facility allows customers to withdraw cash from accredited partner institutions spread across the country using their ATM, debit card, cash card or e-money account. Instead of an Automated Teller Machine (ATM), a POS machine is used to authorize transactions.

Most Cash Out machines and partner institution sites are situated in areas where there are few ATMs (or no ATMs at all).

Main Features

  • Transaction flow like in ATM withdrawal but cash is disbursed by a partner institution personnel (cashier or teller)
  • Cardholders can withdraw as much as P10,000 in one transaction
  • Unlike in ATMs, cardholders can withdraw amounts not necessarily in multiples of P100 (ex.P150 or P1,270)
  • Two receipts are generated - one for the cardholder or customer and one for the partner institution
  • Cardholders can inquire their account balance for free (however, no receipt is printed)
  • Cash Out machine can print batch reports which contain transactions made within a day, which helps in daily reconciliation

How Cash Out Works

The Cash Out service works through the coordination of different institutions. Cardholders transact using Cash Out devices installed in partner institutions. These partner institutions were accredited by Cash Out Acquirers, which are members of the BancNet network. Through the BancNet switch, it is possible for a Cash Out Acquirer to accept cards of a different BancNet member institution.

Benefits to Partner Institutions

  • Partner Institutions get a share of the service fee paid by the cardholder
  • Drives foot traffic to store or place of business
  • Less cost on cash safekeeping, as cash is deposited to bank account

Transaction Flow

Customer Fees

Banks charge their cardholders the same withdrawal fee as they charge when they withdraw through an ATM. However, banks charge an additional service fee of P20.00 for every successful transaction.

How to Become a Partner Institution

To become a Cash Out Partner Institution, get in touch with any of our Cash Out Acquirers listed below for more information.

# Banks
1 Asia United Bank
2 Banco Dipolog
3 Chinabank
4 Development Bank of the Philippines
5 Dungganon Bank
7 Enterprise Bank
8 LandBank of the Philippines
9 PBCom
10 PNB

Account holders of the following can use the Cash Out service.

# Banks
1 Asia United Bank
2 Banco Dipolog
3 Bank of Commerce
4 Bank of Makati
5 BPI Globe Banko
6 China Bank
7 China Bank Savings
8 Citibank, N.A.
9 City Savings Bank
10 City State Bank
11 CTBC Bank
12 DBP
13 Dungganon Bank
14 East West Rural Bank
15 Eastwest
16 Enterprise Bank
17 Equicom Savings Bank
19 HSBC Savings Bank
20 Land Bank of the Philippines
21 Legaspi Savings Bank
22 Malayan Bank
23 Maybank Phils. Inc.
24 Metrobank
25 Nationlink
26 OmniPay
27 Pacific Ace Savings Bank
28 Partner Rural Bank
30 Philippine Business Bank
31 Philippine Savings Bank
32 Philippine Veterans Bank
33 Philtrust Bank
34 PNB
35 PNB Savings Bank
36 Postal Bank
37 Producers Bank
38 Quezon Capital Rural Bank
40 RCBC Savings Bank
41 Robinsons Bank
42 Security Bank
43 Standard Chartered Bank
44 Sterling Bank of Asia
45 Tiaong Rural Bank
47 UCPB Savings Bank
48 Union Bank
49 Wealth Bank

List of Partner Institutions

For a list of our partner institutions, please click here.