December 19, 2018As Bank of Commerce partners with Philippine EFT System and Operations Network (PESONet) – an interbank electronic fund transfer service, consumers and businesses can transfer to or receive funds through any PESONet-affiliated financial institution. Credited within the day, funds can be redeemed on the day of cash transfer. Bank of Commerce cut-off period for acceptance and redemption is at 3:00 PM only and other PESONet transactions after the cut-off will be processed the following banking day. This service is open to Bank of Commerce depositors and non-depositors. Just visit any Bank of Commerce branch to conduct PESONet transactions. The fund transfer service is also available via internet banking of Bank of Commerce for enrolled clients. To enroll in internet banking, just visit the website and enroll online. PESONet is also available via Bank of Commerce ATM. Just visit any Bank of Commerce branch to enroll your beneficiary’s details. You will be given a Beneficiary Code that you need to input when using the ATM. PESONet via the ATM is only available to Bank of Commerce cardholders. PESONet is the country’s first Automated Clearing House (ACH) under the National Retail Payment System (NRPS), the Bangko Sentral ng Pilipinas’ (BSP) landmark policy whose objective is to increase e-payment transactions to 20 percent by 2020 for more inclusive economic growth and financial inclusion. As a further commitment to improving the country’s e-payment systems, the BSP also launched “InstaPay,” the latest ACH under the NRPS framework. With InstaPay, ordinary Filipinos, companies and government agencies can transact in real time, and send and receive funds of up to P50,000.00 per transaction, 24/7. There is no limit on the number of transactions per day. InstaPay is available via our branches and via Internet Banking. With PESONet and InstaPay, Bank of Commerce plays its part in helping improve the Philippine financial systems and contribute to the effective interoperability among financial institutions. For more details about PESONet, visit www.pesonet.info or www.bsp.gov.ph.