What is PESONet?
PESONet (Philippine EFT System and Operations Network) is a fast, secure way to transfer money between banks, e-wallets, and mobile money accounts in the Philippines. Made under the NRPS by Bangko Sentral, it's your go-to for convenient, reliable electronic cash!
Currently Supported Banks
Listed below are the banks that may be processed through PESONet on Coins.ph. Our team will be continuously updating our list to add more banks to be processed through this system.
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Processing time
PESONet service has applied a batch settlement process for each banking day, Monday to Friday except on public holidays.
PESONet cash outs created after the 3PM cut-off, weekends and holidays will be processed on the next banking day.
Example timeline:
| Date Created of PESONet Transaction | Estimated Delivery Time |
| 8:30AM on a banking day | Credited by 2PM of the same banking day |
| 10:00AM on a banking day | Credited by 6PM of the same banking day |
| 4PM on a banking day | Credited by 2PM of the next banking day |
| 8:00 AM on a weekend or holiday | Credited by 2PM of the next banking day |
Fees
There are currently no fees for cashing out to any bank processed through PESONet. The recipient will receive the principal amount sent to them, with no further deductions or charges.
How can I cash out through PESONet?
On the Coins App
- Open Portfolio: Launch the Coins app, and navigate to the Portfolio tab.
- Click on Withdraw: Tap Withdraw to initiate the cash-out process.
- Select Cash Out: Choose the Cash Out option from the menu.
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Choose Your Cash Out Method:
- Scroll through available options or use the search bar to find your preferred e-wallet, bank, or remittance center.
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Set PESONet and Amount:
- Choose PESONet as cash out method
- .Enter the amount you wish to cash out along with necessary details:Account Holder Name
On the Coins Website
- Open Portfolio on Coins Website: Access Coins.ph through a web browser and click on the Portfolio tab from the left side of the screen.
- Select PHP Wallet: Click on your PHP wallet under your balances.
- Initiate Cash Out: Press the Cash Out button located at the upper right corner of your screen.
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Choose Your Cash Out Option:
- Scroll through available options or use the search bar to find your preferred e-wallet, bank, or remittance center.
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Enter Amount and PESONet:
- Input the amount you want to withdraw and choose PESONet
What happens if I entered the wrong account number for my cash out via PESONet?
Please be informed that all funds transferred via PESONet are considered final. With this, customers must exercise extreme care in providing the recipient information and amount to be transferred. The amount will be credited to the recipient information provided.
In the event that you provided the wrong account number, a request for recovery will be on a best effort basis subject to the account holder's consent as well as the beneficiary institution's internal policies on recovery. These will take into consideration:
(1) availability of credited funds;
(2) beneficiary account holder's consent to be debited; and
(3) turnaround time. Returned funds may be subject to servicing fees for the recovery.
For more information on PESONet, you may visit their website.