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Operating areaPhilippines
ATMs21,762 (2021)
Founded1990; 34 years ago (1990)

BancNet (also spelled Bancnet) is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the country's single interbank network in the Philippines in terms of the number of member banks and annual transactions.[citation needed] Due to its status as the country's single ATM switch operator, it is designated by the Bangko Sentral ng Pilipinas (BSP) 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 make cash advances at participating BancNet member ATMs nationwide. Bancnet interconnects with international card networks Diners Club, Discover, KFTC, Mastercard, and Visa.

BancNet serves more than 41 million ATM cardholders of its 124 members and affiliates with over 21,000 ATMs and more than 304,000 POS terminals.[citation needed]

In 2008, Expressnet outsourced its ATM operations to BancNet. On January 30, 2015, BancNet and MegaLink announced their merger and will retain itself as its brand.[1] With this and having no more competition, BancNet has become the Philippines' single ATM switch and major cashless transactions and payments network operator.


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.[2] 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.



BancNet is the clearing switch operator of real-time electronic funds transfer clearing house InstaPay, one of the two electronic fund transfer services commissioned by the BSP (the other being PesoNet). As of 2022, the service shall be rebranded into InstaPay, powered by BancNet.

Equity members

Other members

See also


  1. ^ "BancNet, MegaLink merger marks 'new beginning' in e-payments". Retrieved December 21, 2019.
  2. ^ BancNet, Nationlink sign pact for interconnection, Daily Star, retrieved July 26, 2012

General references

Philippine interbank networks
BancNet | ENS | Nationlink
Defunct: Expressnet | MegaLink |