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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.
BancNet introduced the BancNet Rewards Points program on August 15, 2009, the first points-based rewards system exclusively for debit purchases in the country. Every Php 25 in spend using an ATM debit or prepaid card of a member bank earned the cardholder 1 point. 2,000 points were needed to redeem the cash rebate of Php 100.
The Express Payment System, more commonly known as the EPS, was the EFTPOS system originally of the ATM cards of Bank of the Philippine Islands and its subsidiaries, BPI Family Savings Bank and BPI Direct Savings Bank. Today [when?], it is the EFTPOS system of the Expressnet interbank network in the Philippines. The system is the most popular ...
The first bank to make such an announcement about the BancNet-Expressnet tie-up was Chinabank, of which its sister bank, Banco de Oro, is a member of Expressnet. Internationally, Expressnet cardholders (excluding Landbank and local BPI and Banco de Oro cardholders) are connected to Maestro and Cirrus in the cases of BPI and Banco de Oro and PLUS .
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.
BancNet is the sole surviving entity, while MegaLink has been repurposed. [2] MegaLink now lists itself as a BancNet member under the independent ATM deployer category. [ 3 ] Following the repurposing, MegaLink and its assets were sold to the Japanese conglomerate Hitachi , of which MegaLink is now a subsidiary.
Philippine Veterans Bank, also known as PVB and Veterans Bank, is a commercial bank in the Philippines. The bank is owned by Philippine World War II war veterans and their families and caters to both corporate and retail financial markets. As part of its charter, PVB allocates 20% of its annual net income for the benefit of its shareholders.
Producers Savings Banking Corporation, or simply Producers Bank, is a Filipino bank with Headquarters in Pasig.. It provides banking services including savings accounts, ATMs, checking accounts, time deposits, and foreign currency deposit unit accounts, loans including business loans, mortgage loans, agricultural/crop loans, auto loans and teacher's salary loans.