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BancNet (also spelled Bancnet) is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the largest interbank network in the Philippines in terms of the number of member banks and annual transactions. It is also designated by the Bangko Sentral ng Pilipinas as the country's national ATM network.
BancNet is also the exclusive gateway of China's UnionPay, allowing access to the nearly 1 billion ATM cardholders from China. BancNet is allied with global payment brand JCB International. Through this alliance, JCB cardholders can now do cash advances at participating BancNet member ATMs nationwide. Bancnet interconnects with international card networks Diners Club, Discover Card, KFTC, MasterCard, and VISA.
BancNet serves more than 41 million ATM cardholders of its 114 members and affiliates with over 12,000 ATMs and more than 5,000 POS terminals.
BancNet was founded on July 17, 1990 as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet. Other members have since joined.
In 1994, BancNet introduced the a point-of-sale system to serve the retail payment requirements of cardholders. In 1997, BancNet started offering website hosting, email and surfing services to member banks at affordable rates.
In 2002, BancNet started its online banking and payment gateway system.
It was during the anniversary business forum of 2002 that BancNet introduced Interbank Funds Transfer, reportedly the first consortium-run automated transfer facility in the region. The product allows real-time, online transfer of money among the members of BancNet using either the payment gateway, the ATM or a cardholder's cellular phone.
A partnership with Globe Telecom, the second largest telecoms company in the Philippines, in 2006 allowed BancNet to expand ATM-like functions to the mobile phones of cardholders. This was followed by a similar agreement in early 2007 with Smart Communications, the dominant telecoms company, for mobile banking.
A Memorandum of Agreement was signed in 2007 with Nationlink, admitting the latter as the first network alliance member of BancNet. This allows all the rural bank members of Nationlink to enjoy the convenience of electronic banking on 8,000 ATMs and more than 10,000 Point-of-Sale terminals nationwide.
- Asia United Bank
- Banco de Oro
- Bank of Commerce
- Bank of the Philippine Islands
- China Banking Corporation
- Citibank Philippines
- CTBC Bank Philippines
- Development Bank of the Philippines
- EastWest Banking Corporation
- Equicom Savings Bank
- Land Bank of the Philippines
- Metropolitan Bank and Trust Company
- Philippine Bank of Communications
- Philippine Trust Company
- Philippine National Bank
- Philippine Veterans Bank
- Rizal Commercial Banking Corporation
- Robinsons Bank Corporation
- Security Bank Corporation
- Standard Chartered Bank Philippines
- Sterling Bank of Asia
- The Hongkong and Shanghai Banking Corporation
- Union Bank of the Philippines
- United Coconut Planters Bank
- All Bank (formerly Optimum Bank)
- Bangko Mabuhay
- Bank of Makati
- BDO Network Bank (subsidiary of Banco de Oro)
- BPI Direct Savings Bank
- BPI Family Savings Bank (subsidiary of Bank of the Philippine Islands)
- BPI Globe BanKO
- Card Bank, Inc.
- CARD SME Bank Inc.
- China Bank Savings (subsidiary of China Banking Corporation)
- CitySavings Bank (subsidiary of Union Bank of the Philippines)
- Citystate Savings Bank
- D'Asian Hills Bank
- Deutsche Bank Philippines
- Dumaguete Bank
- Dungganon Bank, Inc.
- EastWest Rural Bank, Inc. (subsidiary of EastWest Bank since 2013, formerly known as FinMan Bank and Green Bank)
- Enterprise Bank
- Entrepreneur Bank
- Isla Bank
- Katipunan Bank
- KEB Hanah Bank Manila (formerly Korea Exchange Bank)
- Legaspi Savings Bank
- Luzon Development Bank
- Malayan Savings Bank
- Maybank Philippines, Inc.
- Metro South Coop Bank
- National Confederation of Cooperatives (NATCCO)
- Opportunity Kauswagan Bank (OK Bank)
- Partner Rural Bank
- PBCOM Rural Bank (formerly Banco Dipolog)
- Philippine Resources Savings Bank
- Philippine Business Bank
- Philippine Postal Savings Bank (PostBank)
- Philippine Savings Bank (subsidiary of Metropolitan Bank and Trust Company)
- Prestige Bank
- Queen City Development Bank
- Quezon Capital Rural Bank, Inc. (QCRB)
- RCBC Savings Bank (subsidiary of Rizal Commercial Banking Corporation)
- Rural Bank of Tangub City
- Security Bank Savings (subsidiary of Security Bank Corporation)
- South Bank, Inc.
- Standard Chartered Bank Philippines (acquired by EastWest Banking Corporation since 2016)
- Sterling Bank of Asia
- Sun Savings Bank
- Yuanta Savings Bank (formerly Tongyang Savings Bank)
- UCPB Savings Bank (subsidiary of United Coconut Planters Bank)
- World Partners Bank, Inc.