Switched transactions on BancNet automated teller machines (ATM) surpassed the 2-million mark on a single day on December 15, data from BancNet, the country’s largest ATM consortium show. A total of 2.282 million transactions were processed by the BancNet switch on that day and set a new record, according to BancNet chief operating officer Aristeo Zafra, Jr.
December 15 was a payday for government offices and most private companies. It was also when most Christmas bonuses were distributed and employees withdrew them for their Christmas shopping.
“Withdrawals usually peak on the payday before Christmas on account of the fact that majority of ATM accounts are payroll accounts,” Zafra said.
The volume on the Friday before Christmas, December 23 came very close to December 15, with 2.278 million switched transactions, followed by December 29, the payday before the New Year weekend which posted 2.083 million switched transactions. The year before, volume peaked on Christmas eve which was a Friday.
Switched transactions are mostly withdrawals and balance inquiries done on ATMs other than the ATMs of the cardholder’s bank. These are done not only by the consortium’s own cardholders but also by cardholders of other networks. The three ATM networks in the country are interconnected.
“Despite the heavy volume, BancNet maintained its host availability rate of 100%, Zafra added. “We are committed to maintain this high standard even as our member banks, cardholders, and ATMs increase further this year, “he assured.
BancNet had over 12 million ATM cardholders and 5,700 ATMs at yearend, comprising 37.4% and 50%, respectively, of all cardholders and ATMs in the country.
