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    Pesonet Faqs

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    Rey Razel Cave
    PESONet is an electronic funds transfer service that allows customers of Philippine National Bank (PNB) to transfer funds to accounts at other participating Philippine banks via the PNB Mobile Banking App. Transactions are processed in batches and funds are typically credited to the receiving account on the same banking day if submitted before the 2PM cutoff. A fee of 30 PHP is charged per transaction. The document provides steps for performing a transfer, cutoff times, maximum transaction amounts, cancellation policies, potential issues with receiving funds, and a list of participating receiving banks.

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    © All Rights Reserved
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    Pesonet Faqs

    Uploaded by

    Rey Razel Cave
    127 views4 pages
    PESONet is an electronic funds transfer service that allows customers of Philippine National Bank (PNB) to transfer funds to accounts at other participating Philippine banks via the PNB Mobile Banking App. Transactions are processed in batches and funds are typically credited to the receiving account on the same banking day if submitted before the 2PM cutoff. A fee of 30 PHP is charged per transaction. The document provides steps for performing a transfer, cutoff times, maximum transaction amounts, cancellation policies, potential issues with receiving funds, and a list of participating receiving banks.

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    How to transfer money online

    Original Title

    PESONET_FAQS

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    PESONet is an electronic funds transfer service that allows customers of Philippine National Bank (PNB) to transfer funds to accounts at other participating Philippine banks via the PNB Mobile Banking App. Transactions are processed in batches and funds are typically credited to the receiving account on the same banking day if submitted before the 2PM cutoff. A fee of 30 PHP is charged per transaction. The document provides steps for performing a transfer, cutoff times, maximum transaction amounts, cancellation policies, potential issues with receiving funds, and a list of participating receiving banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    127 views4 pages

    Pesonet Faqs

    Uploaded by

    Rey Razel Cave
    PESONet is an electronic funds transfer service that allows customers of Philippine National Bank (PNB) to transfer funds to accounts at other participating Philippine banks via the PNB Mobile Banking App. Transactions are processed in batches and funds are typically credited to the receiving account on the same banking day if submitted before the 2PM cutoff. A fee of 30 PHP is charged per transaction. The document provides steps for performing a transfer, cutoff times, maximum transaction amounts, cancellation policies, potential issues with receiving funds, and a list of participating receiving banks.

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    © All Rights Reserved
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    PNB Mobile Banking App FAQs for Interbank Funds Transfer via PESONet

    1. What is PESONet?
    PESONet is an electronic fund transfer service (via batch processing) that allows
    depositors to perform non-time sensitive fund transfers to any participating bank
    (“interbank”) within the Philippines. It is available to retail customers with Peso-
    denominated savings and current accounts who are enrolled in the PNB Mobile
    Banking App.
    PESONet provides a secure, faster and more convenient way to send funds or to
    settle payments in lieu of cash or checks.

    TRANSFER RECEIVING FUNDS


    FUNDS USING BANK CREDITED TO
    THE PNB MOBILE BENEFICIARY
    BANKING APP ACCOUNT

    2. How do I perform a PESONet transaction using the PNB Mobile Banking App?
    You will receive notifications in your registered email and mobile numbers when PNB has
    successfully received your transaction for transmittal to the receiving bank.

    3. Is there a cut-off for PESONet Transactions?


    PESONet is available during banking days, subject to a prescribed cut-off of 2PM
    for same day transmittal to the receiving bank.
    Transactions received after cut-off, on holidays or weekends will be processed for
    transmission to the receiving bank on the next banking day.
    4. How much can I transact for PESONet via the PNB Mobile Banking App?
    You may transfer up to P100,000 per transaction.
    5. Are there any applicable fees for using PESONet via the PNB Mobile Banking App?
    A nominal fee of P30 will be charged per transaction. The fee shall be
    automatically debited from your nominated source account after successful OTP
    confirmation.
    6. Can I request cancellation of a PESONet transaction?
    Once your account has been debited, the transaction made via the PNB Mobile
    Banking App is final and can no longer be cancelled.
    7. How soon are funds credited to the receiving bank?
    Within cut-off time, PNB shall send the funds transfer instruction to the receiving
    bank on or before 4PM. Credit to the payee account is dependent on the
    processing of the receiving bank. Please inform your payee to coordinate with
    their bank of account if funds have already been credited to their account.
    If PNB is the receiving bank, funds shall be credited from 4PM to 11PM of the same
    day.
    8. Will there be instances for unsuccessful credit to the receiving bank?
    The final credit to the payee/beneficiary account may not be successfully
    processed by the receiving bank for several reasons, such as:

     Invalid payee account number (may be incorrect, closed, dormant, blocked,


    frozen)
     Name of the beneficiary account does not match the name of the beneficiary
    submitted thru the PNB Mobile Banking App
     The currency of the beneficiary account is not a qualified PHP account
    Please ensure to obtain the correct account information from your payee to avoid
    delays in the credit to the beneficiary account.
    9. How will the funds be returned to me if the PESONet transaction was not credited by the
    receiving bank?
    The fund transfer amount, net of the service charge, will be credited back to your
    source account as soon as the funds are returned to us by the receiving bank.
    10. I have transferred money to the wrong account. How do I attempt to recover the funds?
    As long as a valid account number is provided, the transaction will be final and can
    no longer be cancelled. We encourage you to obtain the correct account
    information from your payee to make your transaction hassle-free.
    If account details provided are not valid (eg. invalid account number, closed
    account, etc.), the Receiving Bank will not be able to process your transaction, and
    will inform us of the status on the next banking day after your PESONet
    transaction.
    We will credit back the funds to your account, net of service fee, as soon as the
    funds are returned to us by the receiving bank.
    11. Who are the participating receiving banks?
    To date, the following banks are participating recipient banks for PESONet.

     Asia United Bank (AUB)  Land Bank of the Philippines (LBP)


     Australia & New Zealand Bank (ANZ)  Maybank Phils.,Inc. (MAYB)
     Banco De Oro Unibank, Inc. (BDO)  Mega Intl Comml Bank Co. Ltd (MICB)
     Bangkok Bank Public Co., Ltd. (BBPC)  Metropolitan Bank and Trust Co (MBTC)
     Bank of America, Nat'l. Ass'n. (BA)  Mizuho Bank, Ltd. (Mizuho)
     Bank of China (BC)  Phil. Bank of Communications (PBCom)
     Bank of Commerce (BCOM)  Philippine Savings Bank (PSB)
     Bank of the Philippine Islands (BPI)  Philippine Trust Company (PTC)
     Bank of Tokyo-Mits., Limited (TOKYO)  Philippine Veterans Bank (PVB)
     China Bank Savings (CBS)  Rizal Commercial Banking Corp. (RCBC)
     China Banking Corporation (CBC)  Robinsons Bank Corporation (RBC)
     Citibank, N. A. (CITI)  Security Bank Corporation (SBC)
     CTBC Bank (Philippines) Corp. (CCBC)  Shinhan Bank (SHB)
     Deutsche Bank (DB)  Sterling Bank of Asia (SBA)
     Devt. Bank of the Philippines (DBP)  Sumitomo Mitsui Banking Corp (SMBC)
     East-West Banking Corporation (EWBC)  The Standard Chartered Bank (SCB)
     Equicom Savings Bank (ESB)  Union Bank of the Philippines (UBP)
     First Consolidated Bank (FCB)  United Coconut Planters Bank (UCPB)
     HK and Shanghai Banking Corp. (HSBC)  United Overseas Bank Phils. (UOB)
     JPMorgan Chase Bank (CHASE)  Yuanta Savings Bank (YSB)
     KEB Hana Bank (KHB)

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