BancNet Payment Services

This payment service allows customers of BancNet members to withdraw cash using their ATM or debit cards in POS terminals or non-ATM devices at retail and service establishments across the country. 

The card is inserted into a POS machine or non-ATM device instead of an ATM. The cardholder inputs his PIN and the amount to be withdrawn, and the establishment cashier dispenses the cash. This is especially beneficial to customers in areas where there are only a few or no ATMs at all.

a. Benefits to Partner Retail and Service Establishments.

• Partner retail and service establishments get a share of the service fee paid by the cardholder.
• Drives foot traffic to store or place of business.
• Less cost on cash safekeeping, as cash is deposited to bank account.

b. Benefits to Customers

• Convenience and savings on time.
• Savings on transportation expense.
• Enhanced security (due to additional security controls of the partner establishment).