BancNet opens US-based ATMs to cardholders

MANILA, Philippines - BancNet cardholders traveling to the United States will soon be able to access their automated teller machine (ATM) accounts anywhere in the US through a new reciprocal agreement between BancNet and NYCE Payments Network LLC, a leading US electronic payments network and an FIS™ company.

The agreement, the first ever connection between a local Philippine ATM network and a US network, allows cardholders reciprocal access to ATMs in both networks. 

With this breakthrough development, cardholders of participating BancNet member banks will be able to withdraw cash and check their account balances through more than 400,000 ATMs across the US located in all 50 states and territories. NYCE has over two million retailer locations throughout the US.

BancNet and NYCE will likewise create new extended real-time payment services for their respective customers. 

The reciprocal agreement will also enable the approximately 100 million NYCE cardholders to transact at participating BancNet ATMs when in the Philippines.  BancNet has over 6,700 ATMs throughout the Philippines, including various popular tourist destinations like Boracay, Cebu and Palawan. 

 BancNet is the Philippines’ largest ATM consortium with 98 members, including two affiliate ATM networks. 

As a multi-payment gateway, BancNet enables its over 14 million cardholders to access their bank accounts not only through the ATM but also at point-of-sale (POS) terminals, the Internet, and through mobile phones.

 It is interconnected with the two other ATM consortia in the country and with Diners Club, Discover Card, JCB, Mastercard, Union Pay and Visa. It also provides ATM switch hosting, card management, and ATM cash management among other outsourced electronic banking services.