Maximum ATM Cash Withdrawal Amount per Day in Philippine ATM/Cash Machine

http://paetechie.blogspot.com/2008/07/maximum-atm-cash-withdrawal-amount-per.html

I usually get queries on why i advocate using your own bank's ATM for cash withdrawals and other transactions to avoid transaction charges. This time, I read about a complaint from a foreigner complaining about the P4k limit on ATM withdrawals. Note that since he's withdrawing from his account held in a foreign bank, he'll incur more charges if he needs more than P4k. I suggest he use BancNet ATMs that allow at least P10k per transaction that costs one third transaction fees (you need to transact three times in ATMs of Megalink and ExpressNet thereby incurring three times more charges.

For local bank accounts, you can withdraw your money from the ATM with the following limits:

Allied Bank 20K
Asia United Bank 100K
Banco de Oro
Banco Filipino 20K or 5x withdrawal
Banco San Juan 20K
Bank of the Philippine Islands (BPI) P20K
Centennial Bank 20K
China Bank 20K (combined w/ POS & IBFT)
Chinatrust Bank 50K
Citibank 150K
Citibank Savings Bank 150K
Citystate Savings Bank 20K
East West Bank 50K (combined w/ IBFT)
Export Bank 40K
Green Bank 20K
Malayan Bank 20K
Metrobank Regular - 30K Special - 50K
NationLink 20K
OMB 20K
PBCom 20K
Philippine National Bank (PNB)
Philtrust Bank 20K
Postal Bank 20K
PSBank Gold - 50K Regular - 30K
QCRB 20K
RCBC 50K (combined w/ IBFT)
RCBC Savings Bank 50K (combined w/ POS & IBFT)
Real Bank 20K
Security Bank Reg. Card - 40K (combined w/ IBFT)
Cashlink - 40K (combined w/ IBFT)
Sterling Bank 40K
Standard Chartered Bank 100K
Tong Yang Bank 50K
Union Bank
World Partners Bank 20K

Notes:

Data on other banks to follow once available

POS = Point-of-Sale

For BPI, you need to withdraw the P20k at the ATM before withdrawing over the counter.

Limits are imposed by the card issuing bank (where the account is)

BancNet currently allows at least P10k per transaction for member banks. Megalink and ExpressNet lowered this to P4k.

Should you need to withdraw more than P4k, transact at your own bank's ATM, BancNet then Megalink/ExpressNet, in that order of preference (particularly for those using VISA and Mastercard cash advances and Plus, Cirrus, Maestro ATM cash withdrawals from US or foreign banks.


Technorati Tags: Philippine Banking

6 Comments:

At July 28, 2008 7:40 AM, JayAshKal said...

I have long ago stopped withdrawing cash from ATM account. not that I don't have anymore cash to withdraw (that's partly the reason! hehehee.). I just use my credit card whenever I can, I do get points BUT one has to be really discipline (I am not!) to pay the balance as you go along, otherwise this will negate the benefits of paying via credit cards. At the end of the month or by visiting my online account I know and can see a running total of what I've been spending on. Obviously it's not that you can always pay via credit all the time. Great post!

At July 28, 2008 10:04 PM, tutubi said...

jayashkal, credit is good if you can handle it. not for all people though and not all merchants accept cards

At August 3, 2008 2:31 PM, juler said...

they are implementing withdrawal limit to insure their(bank) cash position will not be prejudice.

This way they can have time to invest the extra money to investments which ROI is greater than the bank interest rates. Pretty smart isn't it?

btw, i just added your blog..

keep on blogging and good day.

At August 3, 2008 2:49 PM, tutubi said...

juler, it's alsopart of risk assessments. my contact mostly from Audit group was the one adamant on the P20k limit without even thinking of inflation :(

At February 27, 2009 8:15 PM, Anonymous said...

Hi all... Can somebody help me??? I need to know if Allied Bank accepts Maestro card as I am thinking to send my maestro card to my mum in philippines. It is so expensive to send money via Western union. Thanks!!!

At March 1, 2009 11:20 AM, paetechie said...

anonymous, afaik, Allied bank does not accept maestro. i've only seen the maestro logo on Metrobank and BPI atms. not sure about the others for i always transact at my own banks' atms (chinabank and BPI)

ATM Charges in the Philippines: BancNet, Megalink, Expressnet, Mastercard, Cirrus, Maestro, Visa, Plus, JCB, China Union Pay

http://paetechie.blogspot.com/2007/11/atm-charges-philippines-bancnet.html

Updated ATM charges per transaction in the Philippines:

Balance Inquiry Transaction Fee:

On-us/proprietary: Free
Interbank (switched by BancNet: P1
Megalink: P1 (see note below)
ExpressNet: None
Cirrus/Maestro: $1
Plus: $1

Banks who charge P2 balance inquiry fee: PNB, UnionBank, Bank of Commerce, One Network Bank, Equitable PCI Bank, Equitable Savings Bank, LBC Bank

ATM Cash Withdrawal Transaction Fee

On-us/proprietary: Free
Interbank (BancNet, Megalink, Expressnet): P8 to P12.50

Banks with highest charges: OMB (P12.50), UnionBank (P12), UCPB (P11), Bank of Commerce (P11), PNB (P11), UCPB (P11)

Banks with no charge: Citibank, Citibank Savings, HSBC

Cirrus/Maestro: $3.5
Plus: $3.0
(these rates apply also to ATM transactions abroad)

ENCASH ATM Cash Withdrawal: add P25 or P45 convenience fees on top of normal transaction charge (there is a warning screen for this)

Nationlink ATM Cash Withdrawal: add P20 convenience fees on top of normaltransaction charge (there is a warning screen for this)

Note there is a maximum amount per withdrawal for switched transactions of P10,000.00 via BancNet or Megalink. BPI recently lowered this to P5,000.00. For on-us/proprietary transactions, the issuing bank's set amount is applied.

Fund Transfers via ATM Fee

On-us/Proprietary (if available): Free
Interbank (BancNet) : P25 (real time credit)
Interbank (Megalink): P25 (next day credit)


* called IBFT by BancNet, short for Interbank Funds Transfer

Bills Payment via ATM Fee

This service is free to all cardholders. It's the biller institution who pays the processor the fees per transaction.

Cash Advance Fees

Using credit cards to withdraw cash on ATMs (funds subject also to interest rates)
VISA, Mastercard: P300 or 3% of amount whichever is higher
American Express (AMEX): 5% of cash advance or P500 whichever is higher
Diner's Club: 5% of cash advance amount or P250 whichever is higher

Many ATMs in the Philippines eg.g BPI (Bank of the Philippine Islands), Metrobank and PSBank accept VISA/VISA Electron/Plus, Mastercard/Cirrus/Maestro where their logos are displayed

American Express is accepted at BPI ATMs

China Union Pay (CUP) cardholders can inquire balance and withdraw funds from BancNet ATMs plus shop using BancNet Point-of-Sale (POS) which is similar to BPI EPS and ECN. No information yet on the charges.

No update yet whether Japan's JCB will interconnect with a local ATM consortium.
Cirrus and Maestro are affiliated with MasterCard; Plus is a VISA affiliate.

Using your Philippine-issued ATM card abroad is only possible for Cirrus, Maestro, and Plus affiliated banks (e.g. BPI International for Cirrus/Maestro). Inquire at your own bank for details.

How to avoid ATM transaction Charges in the Philippines:

1. Transact only at your own bank's ATMs
2. Open an account at Citibank, Citibank Savings or other banks that do not charge ATM withdrawals and account balance inquiries to their cardholders.
3. Open an account at a bank with an ATM near your place.
4. Do not put your money in the bank, invest it some place else :P

Note that transaction charges can be thought of as convenience fees; you pay the charges instead of wasting your time and spending money on fares/gas going to your own bank's ATMs.

ExpressNet Member Banks (5):
Bank of the Philippine Islands (BPI), BPI Family Bank, Land Bank of the Philippines (Landbank, LBP), Hong Kong Shanghai Bank (HSBC), HSBC Savings

BancNet Member Banks (31):
Allied Bank, Asia United Bank (AUB), Banco Filipino, Banco San Juan, CentennialSavings Bank, China Banking Corporation (Chinabank), Chinatrust Bank, Citibank, N.A., Citibank Savings Bank, Citystate Savings Bank, East West Bank, Export and Industry Bank (Exportbank), Green Bank of Caraga, Malayan Bank, Manila Bank, Merchants Bank, Metrobank, Opportunity Microfinance Bank, Philtrust Bank, Philippine Bank of Communications (PBCOM), Postal Bank, PSBank, Quezon Capital Rural Bank (QCRB), Real Bank, Rizal Commercial Banking Corporation (RCBC), RCBC Savings Bank, Security Bank, Standard Chartered Bank, Sterling Bank of Asia, Tong Yang Savings Bank, World Partners Bank

Megalink Member Banks:
AsiaTrust Bank, Banco de Oro (BDO), Pacific Ace Bank, Bank of Commerce, Philam Savings Bank, Development Bank of the Philippines, Philippine National Bank (PNB), Equitable PCI Bank, Philippine Veterans Bank, Equitable Savings Bank, Premiere Development Bank, Insular Savings Bank, Prudential Bank, International Exchange Bank (iBank, now part of Unionbank), Queen City Development Bank, Keppel Bank Philippines, Robinsons Savings Bank, LBC Bank, Union Bank of the Philippines, Maybank Philippines, United Coconut Planters Bank (UCPB), Pacific Ace Savings Bank

Nationlink Member Banks (A member of BancNet):
National Confederation of Cooperatives (NATCCO), Kaunlaran Bank, Kaunlaran Rural Bank of Manaoag, Optimum Development Bank, Malasiqui Rural Bank, Community Rural Bank of Dapitan, Metro Ormoc Community Cooperative (OCCCI)

ENCASH Member Banks(A member of Megalink):
Rural Bank of FloridaBlanca, GM Bank, Bangko Kabayan, Rural Bank of Tiaong, Progressive Rural Bank, Rural Bank of Puerto Galera, Cantillan Bank, First Valley Bank, Rural Bank of Calasiao, Balai Isabel, GM Bank, Jose Panganiban Rural Bank,
Rural Bank of Nabua, G7 Bank

You may visit your bank's website for ATM locator service to know where to find ATMs in the Philippines. For example, in Boracay, there are ATMs by Metrobank, Allied Bank and BPI.

Updated: February 23, 2008


Tags:

Cash Machine Charges in the Philippines, ATM Transaction Fees in the Philippines,ATM Charges in the Philippines, ATM Fees in the Philippines,Philippines,

You can now pay PAL e-tickets from your BANCNET ATM account

Philippine Airlines and BancNet bring you another first in the airline industry. BancNet ATM cardholders can now purchase Philippine Airlines domestic tickets without leaving home. Get your electronic ticket instantly after securing online approval from your depository bank.

What is BancNet?
BancNet is the largest electronic banking consortium in the Philippines with 54 members and affiliates.

What is a BancNet ATM card?
A BancNet ATM card is an ATM card issued by a BancNet member banks. You may refer to www.bancnetonline.com to view the complete list of members.

Can I use BancNet ATM Card to purchase ticket online at www.philippineairlines.com?
Only the following ATM cards issued by banks listed below may purchase ticket online at the PAL website:
• Allied Bank
• Asia United Bank
• China Bank
• Chinatrust Bank
• Citystate Savings Bank
• Metrobank
• PBCom
• Philippine National Bank
• Philtrust
• Postal Bank
• RCBC
• RCBC Savings
• Robinsons Savings Bank
• Security Bank
• Standard Chartered Bank
• Sterling Bank

My Bank is a BancNet member, why can’t I purchase ticket online?
Your bank may not be enabled yet for internet transactions. Kindly contact your bank for more information.

What type of ticket can I purchase using my BancNet ATM Card?
You may use your BancNet ATM Card to pay for domestic ticket only.

Is there a transaction limit in using my BancNet ATM card?
BancNet member banks may or may not have transaction limit defined for their cardholders. The cardholder may contact the depository bank for the transaction limit details.

Does PAL accept ATM card payment at the ticket office?
No. BancNet ATM card payment is only available online.

What is an ATM/Debit Card?
An ATM Card is issued by a bank and linked to an account holder’s savings or checking account. Payments made with a BancNet ATM card is deducted in real-time from the user’s bank account. The account holder must have sufficient funds in his account in order to make a payment.

I have a BancNet member-bank cash card, can I use this to make payments at www.philippineairlines.com?
Yes, BancNet member banks’ cash cards may be used to make online purchases.

Do I need to enroll to use my BancNet ATM Card to make payments via BancNet Online Services?
All banks (except Robinsons Savings Bank) do not need enrollment. You can transact online immediately with your BancNet ATM Card Number and ATM PIN.

Where can I find my ATM card number?
Your ATM Card Number is found on the front face of your ATM Card. ATM Card Number is different from Account Number.

What is a Member Number?
Some BancNet Member Banks require their account holders to input their Member Number when making payments via BancNet Online Services.Member banks that have Member Numbers are Allied Bank, Chinatrust, Metrobank, Philtrust, RCBC and RCBC Savings Bank.

Click here to identify your member number

How do I pay for my ticket online?
After choosing your flight schedule, choose BancNet from the list of Payment Modes. Choose your Bank from the drop-down list and click Submit. Enter your ATM card number, member number, account type (savings or checking), and enter your ATM PIN by clicking on the corresponding numbers with your mouse. If your card issuer approves the transaction, your electronic ticket will be issued shortly.

Why can’t I type my ATM Personal Identification Number (PIN)?
This is to protect the accountholder from malicious programs such as keyloggers.

Why are the numbers not in order on the ATM PIN PAD?
This is another security feature of BancNet to protect accountholders from shoulder surfers – people who attempt to capture sensitive user information (i.e. ATM PIN) by direct observation such as looking over someone’s shoulder or observing from a distance. The numbers on the PIN Pad are randomized after every session.

How can I check if I have sufficient balance to make a payment?
BancNet ATM cardholders may check their balance by visiting www.bancnetonline.com. There is no fee to make a balance inquiry.

http://www.philippineairlines.com/faq/bancnet/faq_bancnet.jsp