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Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines.It has the second-largest number of ATMs (largely due to the vast nationwide presence of Bank of the Philippine Islands Express Teller ATMs) and the smallest number of customers and member banks.
MegaLink (also spelled as Megalink) is a Philippine-based developer of mobile and banking software as well as a service provider for banks, specifically for Automatic Teller Machine (ATM) networks and point of sale systems for banks. It was established in 1989; it was later repurposed in 2015.
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
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.
Encash Network Services, or ENS, is an independent switch network in the Philippines.It initially connected the ATMs of four rural banks. In its 30 months of operation as of May 2010, this network eventually expanded to more than 101 ATMs, targeting all rural banks and cooperatives.
On June 17, 1950, Equitable Banking Corporation was founded by Go Kim Pah [1] as the first commercial bank in the Philippines, licensed by the newly formed Central Bank of the Philippines (now Bangko Sentral ng Pilipinas). Other commercial banks like Bank of the Philippine Islands were formed and licensed during the Spanish or American regimes ...
The bank was established by Alfonso Yuchengco on September 23, 1960, as Rizal Development Bank, a small development bank in Rizal province. [13] It was later upgraded to a commercial bank upon the approval of the Bangko Sentral ng Pilipinas and, in 1963, began operation as such under its present name Rizal Commercial Banking Corporation ( RCBC ).
Nationlink's members consist mostly of savings banks, credit unions, rural banks, cooperatives and non-governmental organizations, and is concentrated in rural areas, where ATMs are more limited. The network focuses heavily on the overseas Filipino worker (OFW) market, since many OFWs and their dependents hail from the provinces.