What is PESONet?
PESONet (Philippine EFT System and Operations Network) is an electronic fund transfer service which allows customers of participating institutions (banks, e-money issuers or mobile money operators in the Philippines) to send and receive funds between one another. This payment system was established under the National Retail Payment System (NRPS), a policy and framework supervised by the Bangko Sentral ng Pilipinas for safe, efficient and reliable transactions.
PESONet is a convenient way to pay for government, businesses and other people for non-urgent transansactions. This is an easy payment method for bulk disbursements or payments, and also an alternative to checks.
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.
All cash outs created on or before 3 PM during weekdays, will be processed by 11 PM on the same day. Orders made after the cutoff and on weekends will be processed on the next banking day.
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.
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 any issues or concerns with your transaction, you may reach out to our support team at email@example.com.
For more information on PESONet, you may visit www.pesonet.info.