Planning to cash in a large amount? With PESONet, you can reliably transfer funds to your Coins.ph account from your personal bank account or another e-wallet.
What is PESONet?
PESONet (Philippine EFT System and Operations Network) is an electronic fund transfer service launched by the Philippine Clearing House Corporation. It 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 fees, businesses, and other people for non-urgent transactions. This is also an easy payment method for bulk disbursements or payments, and also an alternative to checks.
Which banks can I use to cash in through PESONet?
At the moment, these banks have listed DCPAY PHILIPPINES INC (COINS.PH) as one of their receiving banks:
- Asia United Bank
- Bank of the Philippine Island
- Bank of China
- Bank of Commerce
- China Bank Corporation
- CIMB Bank
- CITIBANK, N.A.
- Devt. Bank of the Philippines
- Dungganon Bank, Inc.
- Equicom Savings Bank, Inc.
- EastWest Bank
- Equicom Savings Bank, Inc.
- HK and Shanghai Banking Corp. (HSBC)
- HSBC Savings Bank
- ING Bank N.V.
- Land Bank of the Philippines
- Metropolitan Bank and Trust Company (Metrobank)
- Philippine National Bank
- Philippine Savings Bank
- Rizal Commercial Bank Corporation
- UnionBank of the Philippines
- United Coconut Planters Bank
- Tonik Digital Bank, Inc.
NOTE: If your bank enables transfers via PESONet but is not in the list above, you may contact your bank’s customer support and request to add DCPay Philippines Inc./Coins.ph in their Receiver list.
How can I cash in via PESONet?
Before cashing in, make sure your Coins.ph account:
If your Coins.ph account meets the requirements above, here's how you can proceed with cashing in through PESONet (visual guide):
- Send a fund transfer via PESONet by logging into your personal online banking account. There is no need to create a cash in order through the Coins.ph app before making a transfer.
- Input your Coins.ph account details to proceed with the transfer:
- Bank: DCPay Philippines Inc. (COINS.PH)
- Account Name: Your Coins.ph registered Account Name
- Account Number: Your Coins.ph Registered Mobile Number
- Tip: You may view these details in the sidebar menu of the Coins.ph app. See What is my Coins.ph account number? for a step-by-step guide.
- Once your fund transfer via PESONet is cleared, the fund will be credited to the Coins.ph Wallet linked to the mobile number provided
NOTE: Your Coins.ph cash in limits will still apply. If a customer is about to reach his/her cash in limits for the day or month, the fund transfer to DCPay Philippines/Coins.ph will be rejected and the refund should be issued by the sending bank on the same banking day.
When will I receive my cash in via PESONet?
Cut-off time for PESONet transfers depends on the sending bank. All PESONet transfers places within the banks' cut-off time will be processed and released to your Coins.ph wallet by 6:00PM on the same banking day. All transfers which did not reach the banks' cut-off time (including transfers made during the weekend and holidays) will be processed the next banking day by 6:00PM.
How much are the fees for cash ins via PESONet?
Coins.ph will not be charging fees for crediting a cash in via PESONet. However, note that your bank may charge for the transfer, and such charges via PESONet may vary per bank. The fee would be deducted from the customer's bank account.
What is the minimum and maximum amount I can cash in via PESONet?
The minimum and maximum amount would depend on the ff:
- Minimum - Banks have set their own minimum amount for each transfer. The exact amount sent from your personal banking account (minus fees) will reflect on your Coins.ph wallet once your PESONet transaction has cleared.
- Maximum - The maximum amount you may transfer to your Coins.ph wallet through PESONet would follow your Coins.ph cash in limits.
NOTE: You may initiate multiple PESONet cash ins as long as it is within your Coins.ph cash in limits.
What if I entered an incorrect account number for my PESONet cash in?
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 be taken 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 service fees for the recovery.
For more information on PESONet, you may visit www.pesonet.info