You can send fund transfer to a Philippine account in any of the 40+ participating financial instutions through Pesonet. You can transfer any amount per transaction with the same day credit and no deduction to the payees.
What is PESONet?
PESONet is a new electronic funds transfer service that enables customers of participating banks, e-money issuers, or mobile money operators to transfer funds in Philippine Peso currency to another customer of other participating banks, e-money issuers, or mobile money operators in the Philippines.
What is the purpose of PESONet?
Through PESONet, businesses, government, and individuals will be able to conveniently pay or transfer funds from their account to one or multiple recipient accounts in other financial institutions. PESONet is the perfect alternative to the still widely used paper-based check system.
List of Pesonet Participating Banks
List of Pesonet Accredited Banks as of August 31, 2020
Universal and Commercial Banks (U/KBs)
1. Al-Amanah Islamic Investment Bank of the Philippines
2. Asia United Bank Corporation
3. Australia and New Zealand Banking Group Limited
4. Bangkok Bank Public Co. Ltd.
5. Bank of America, N.A
6. Bank of China Ltd. – Manila Branch
7. Bank of Commerce
8. Bank of the Philippine Islands
9. BDO Unibank, Inc.
10. China Banking Corporation
11. CIMB Bank Philippines, Inc.
12. Citibank, N.A
13. CTBC Bank (Philippines) Corporation
14. Deutsche Bank AG
15. Development Bank of the Philippines
16. East West Banking Corporation
17. Industrial Bank of Korea Manila Branch
18. ING Bank, N.V
19. JP Morgan Chase Bank, NA.
20. KEB Hana Bank – Manila Branch
21. Land Bank of the Philippines
22. Maybank Philippines, Inc.
23, Mega International Commercial Bank Co, Ltd.
24. Metropolitan Bank and Trust Company
25. Mizuho Bank, Ltd. – Manila Branch
26, MUFG Bank, Ltd.
27. Philippine Bank of Communications
28. Philippine National Bank
29. Philippine Trust Company
30. Philippine Veterans Bank
31. Rizal Commercial Banking Corporation
32. Robinsons Bank Corporation
33. Security Bank Corporation
34. Shinhan Bank-Manila Branch
35. Standard Chartered Bank
36. Sumitomo Mitsui Banking Corporation – Manila Branch
37. The Hongkong & Shanghai Banking Corporation
38. Union Bank of the Philippines
39. United Coconut Planters Bank
40. United Overseas Bank Limited, Manila Branch
Thrift Banks (TBs)
- AllBank, Inc.
- China Bank Savings, Inc.
- Equicom Savings Bank, Inc.
- First Consolidated Bank, Inc.
- HSBC Savings Bank, Inc.
- Malayan Bank Savings and Mortgage Bank, Inc.
- Philippine Business Bank, Inc.
- Philippine Savings Bank
- Producers Savings Bank Corporation
- Sterling Bank of Asia, Inc.
- Wealth Development Bank Corporation
- Yuanta Savings Bank Philippines, Inc
- Bank of Florida, Inc.
- BDO Network Bank, Inc.
- Camalig Bank, Inc.
- Cebuana Lhuillier Rural Bank, Inc.
- Country Builders Bank, Inc.*
- Dungganon Bank, Inc.
- East West Rural Bank, Inc.
- Rural Bank of Guinobatan, Inc
*Effective 01 September 2020
Electronic Money Issuers
(EMI) – Others
- DCPay Philippines, Inc.
- PayMaya Philippines, Inc.
Are there any fund transfer fees?
Financial institutions may charge fees to the payers for funds transfer transactions. However, payees will receive the funds transferred in full and shall not be charged for electronic crediting to their accounts. Moreover, for greater transparency, all participating financial institutions are required to disclose to BSP the details of all fees that will be charged to their
clients. A bulletin board of fees will then be posted on the BSP website
How long does it take to transfer funds via PESONet?
Funds can be made available to the recipient account/s within the same banking day.
If my interbank fund’s transfer is not successful, how will the money be refunded to me? What’s the timeline?
If the beneficiary bank is unable to credit the transaction to your beneficiary (i.e. wrong or invalid account number), the funds should be returned to the sender on the next banking day, service fees may apply