PESONet is a vital fund transfer service in the Philippines, designed to facilitate electronic payments between banks and financial institutions. Understanding its processing times is crucial for users who need timely transactions.
What is PESONet?
PESONet (Philippine Electronic Settlement and Online Payment System) is an innovative electronic platform that enables seamless fund transfers between banks in the Philippines. Unlike instant transfer methods, PESONet operates through a batch settlement process, which means transactions are processed at specific times throughout the banking day.
PESONet Processing Times
PESONet operates on a batch settlement process during banking days (Monday to Friday), excluding public holidays. Here’s a detailed breakdown of its processing times:
Creation of PESONet Transaction |
Estimated Delivery Time |
| On or before 9:00AM on a banking day | Credited on or before 2:00PM of the same banking day |
| From 9:00AM to 12:00NN on a banking day | Credited on or before 6:00PM of the same banking day |
| From 12:00NN to 3:00pm on a banking day | Credited on or before 11:59PM of the same banking day |
| Weekends/ Holidays | Credited on or before 2:00PM on the next banking day |
Tips for Smooth PESONet Transactions
- Plan transfers during banking hours
- Verify all transaction details before submission
- Keep track of cut-off times
- Maintain updated account verification
- Use InstaPay for urgent, real-time transfers
PESONet is particularly advantageous for bulk transactions and high-value payments, making it ideal for businesses needing to process payroll or supplier payments efficiently. However, it is essential to note that while PESONet has no declared maximum transfer limit, individual banks may impose their own limits.
Additionally, PESONet's operational hours do not support urgent transactions outside of banking hours. For immediate needs, users are encouraged to utilize services like InstaPay, which offers faster processing times at a cost.
Frequently Asked Questions
Can I cancel a PESONet transfer?
Once processed, transfers can no longer be cancelled. Verify details before confirming.