Expressnet
Encyclopedia
Expressnet is an interbank network
connecting the ATM networks of seven major bank
s in the Philippines
. It is the second-largest ATM network in terms of number of ATMs (largely due to the vast nationwide presence of BPI Express Teller ATMs) and the smallest in terms of customers and number of member banks. However, its strength among the interbank networks and the ubiquity of BPI ATMs have given birth to the Expressnet motto
: "The Powerful Connection".
At present, Expressnet has 3.5 million customers and has 2,213 ATMs operating 24 hours a day.
(BPI) and its subsidiary, BPI Family Savings Bank, the founders of Expressnet, were connected for the first time. The first Expressnet transaction was also conducted on this year.
Soon thereafter, in December of 1991, Landbank
joined the consortium, followed by HSBC
in February of 1992. Banco de Oro
joined in April of 1995, BPI Direct Savings Bank
, another BPI subsidiary, joined in 2000, and HSBC Savings Bank, a subsidiary of HSBC, became the latest Expressnet member on April 1, 2001.
Expressnet and another Philippine interbank network, MegaLink
, formed an alliance on May 6, 1997, with the main ceremony held at Ayala Center
. This meant that 2.3 million Expressnet cardholders could use their cards with MegaLink ATMs, and 2.7 million MegaLink cardholders could use their cards with Expressnet ATMs.
On July 13, 2005, Expressnet and BancNet
signed a memorandum by executives of both networks. At present, all Expressnet ATMs advertise full connectivity with BancNet ATM cards & that BancNet currently maintains Expressnet's facilities.
Expressnet is also known for its Express Payment System
(EPS), which was at first the debit card
system of the BPI Express Teller ATM card. In 2005, the network expanded to include cardholders of all Landbank E.A.S.Y. (Express Access for Savers like You) and Banco de Oro (both local and international) ATM cards.
and BancNet
, the other Philippine interbank networks. All Expressnet cardholders can access MegaLink and BancNet-connected ATMs and vice versa.
However, not all Expressnet ATMs are linked to MegaLink and BancNet. Prominent examples of this include Landbank and HSBC, but the BPI group and Banco de Oro are accessible to MegaLink cardholders.
An agreement was signed though between BancNet and Expressnet to interconnect. The first bank to make such an announcement about the BancNet-Expressnet tie-up was Chinabank
, of which its sister bank, Banco de Oro, is a member of Expressnet.
Internationally, Expressnet cardholders (excluding Landbank and local BPI and Banco de Oro cardholders) are connected to Maestro
and Cirrus
in the cases of BPI and Banco de Oro and PLUS. Banco de Oro also has a direct link to MasterCard
& VISA
. Expressnet ATMs link to the same with BDO ATMs also providing access to American Express
, Japan Credit Bureau
(JCB), Mastercard
, VISA
& Visa Electron
cardholders.
Interbank network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks....
connecting the ATM networks of seven major bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. It is the second-largest ATM network in terms of number of ATMs (largely due to the vast nationwide presence of BPI Express Teller ATMs) and the smallest in terms of customers and number of member banks. However, its strength among the interbank networks and the ubiquity of BPI ATMs have given birth to the Expressnet motto
Motto
A motto is a phrase meant to formally summarize the general motivation or intention of a social group or organization. A motto may be in any language, but Latin is the most used. The local language is usual in the mottoes of governments...
: "The Powerful Connection".
At present, Expressnet has 3.5 million customers and has 2,213 ATMs operating 24 hours a day.
History
Expressnet was founded on February 14, 1986, when the ATMs of Bank of the Philippine IslandsBank of the Philippine Islands
Bank of the Philippine Islands is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank...
(BPI) and its subsidiary, BPI Family Savings Bank, the founders of Expressnet, were connected for the first time. The first Expressnet transaction was also conducted on this year.
Soon thereafter, in December of 1991, Landbank
Land Bank of the Philippines
Land Bank of the Philippines , also known as LANDBANK or by its initials, LBP, is a bank in the Philippines owned by the Philippine government with a special focus on serving the needs of farmers and fishermen...
joined the consortium, followed by HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
in February of 1992. Banco de Oro
Banco de Oro Universal Bank
Banco de Oro Universal Bank , commonly known as Banco de Oro and BDO, is a major bank in the Philippines. It is owned by the SM Group of Companies, one of the country's largest conglomerates and owner of the SM chain of malls...
joined in April of 1995, BPI Direct Savings Bank
BPI Direct Savings Bank
BPI Direct Savings Bank, a wholly owned subsidiary of Bank of the Philippine Islands , is the Philippines’ first internet bank operating in a generally paperless environment with no defined geographical boundaries....
, another BPI subsidiary, joined in 2000, and HSBC Savings Bank, a subsidiary of HSBC, became the latest Expressnet member on April 1, 2001.
Expressnet and another Philippine interbank network, MegaLink
MegaLink
MegaLink is an interbank network connecting the ATM networks of nineteen* members in the Philippines with a total of more than 2,921* ATMs nationwide and handling more than 795,000* transactions a day...
, formed an alliance on May 6, 1997, with the main ceremony held at Ayala Center
Ayala Center
The Ayala Center is a commercial complex operated by Ayala Land Incorporated located in the central business district of Makati in Metro Manila, Philippines.-About the Center:...
. This meant that 2.3 million Expressnet cardholders could use their cards with MegaLink ATMs, and 2.7 million MegaLink cardholders could use their cards with Expressnet ATMs.
On July 13, 2005, Expressnet and BancNet
BancNet
Bancnet, Inc. is a Philippine-based interbank network connecting the ATM networks of more than forty local banks. It is considered the largest interbank network in the Philippines in terms of the number of member banks and annual transactions...
signed a memorandum by executives of both networks. At present, all Expressnet ATMs advertise full connectivity with BancNet ATM cards & that BancNet currently maintains Expressnet's facilities.
Expressnet is also known for its Express Payment System
Express Payment System
The Express Payment System, more commonly known as the EPS, was the EFTPOS system originally of the ATM cards of Bank of the Philippine Islands and its subsidiaries, BPI Family Savings Bank and BPI Direct Savings Bank. Today, it is the EFTPOS system of the Expressnet interbank network in the...
(EPS), which was at first the debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
system of the BPI Express Teller ATM card. In 2005, the network expanded to include cardholders of all Landbank E.A.S.Y. (Express Access for Savers like You) and Banco de Oro (both local and international) ATM cards.
Members
Expressnet is the primary network of the following banks listed below:| Bank | Membership date |
|---|---|
| Banco de Oro (also a member of Megalink MegaLink MegaLink is an interbank network connecting the ATM networks of nineteen* members in the Philippines with a total of more than 2,921* ATMs nationwide and handling more than 795,000* transactions a day... and BancNet BancNet Bancnet, Inc. is a Philippine-based interbank network connecting the ATM networks of more than forty local banks. It is considered the largest interbank network in the Philippines in terms of the number of member banks and annual transactions... ) |
April 1995 |
| Bank of the Philippine Islands Bank of the Philippine Islands Bank of the Philippine Islands is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank... |
February 14, 1986 |
| BPI Family Savings Bank | |
| BPI Direct Savings Bank BPI Direct Savings Bank BPI Direct Savings Bank, a wholly owned subsidiary of Bank of the Philippine Islands , is the Philippines’ first internet bank operating in a generally paperless environment with no defined geographical boundaries.... |
|
| Land Bank of the Philippines Land Bank of the Philippines Land Bank of the Philippines , also known as LANDBANK or by its initials, LBP, is a bank in the Philippines owned by the Philippine government with a special focus on serving the needs of farmers and fishermen... |
December 1991 |
Connectivity
All Expressnet ATM cardholders and a majority of Expressnet ATMs are connected to both MegaLinkMegaLink
MegaLink is an interbank network connecting the ATM networks of nineteen* members in the Philippines with a total of more than 2,921* ATMs nationwide and handling more than 795,000* transactions a day...
and BancNet
BancNet
Bancnet, Inc. is a Philippine-based interbank network connecting the ATM networks of more than forty local banks. It is considered the largest interbank network in the Philippines in terms of the number of member banks and annual transactions...
, the other Philippine interbank networks. All Expressnet cardholders can access MegaLink and BancNet-connected ATMs and vice versa.
However, not all Expressnet ATMs are linked to MegaLink and BancNet. Prominent examples of this include Landbank and HSBC, but the BPI group and Banco de Oro are accessible to MegaLink cardholders.
An agreement was signed though between BancNet and Expressnet to interconnect. The first bank to make such an announcement about the BancNet-Expressnet tie-up was Chinabank
Chinabank
China Banking Corporation , known publicly as China Bank is Philippines' fourth largest universal bank by market capitalization. Established in 1920, it is the first privately-owned commercial bank in the Philippines. It is likewise the first bank in Southeast Asia to process deposit accounts...
, of which its sister bank, Banco de Oro, is a member of Expressnet.
Internationally, Expressnet cardholders (excluding Landbank and local BPI and Banco de Oro cardholders) are connected to Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
and Cirrus
Cirrus (interbank network)
Cirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
in the cases of BPI and Banco de Oro and PLUS. Banco de Oro also has a direct link to MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
& VISA
Visa
Visa or VISA may refer to:* Visa , a document issued by a country's government allowing the holder to enter or to leave that country...
. Expressnet ATMs link to the same with BDO ATMs also providing access to American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
, Japan Credit Bureau
Japan Credit Bureau
Japan Credit Bureau is a credit card company based in Tokyo, Japan. Its English name is .Founded in 1961, JCB established dominance over the Japanese credit card market when it purchased Osaka Credit Bureau in 1968, and its cards are now issued in 20 different countries...
(JCB), Mastercard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
, VISA
Visa
Visa or VISA may refer to:* Visa , a document issued by a country's government allowing the holder to enter or to leave that country...
& Visa Electron
Visa Electron
Visa Electron is a debit card available across most of the world, with the exception of Canada, Australia, Ireland and the United States. The card was introduced by VISA in the 1980s and is a sister card to the Visa Debit card...
cardholders.
Former members
- HSBCHSBCHSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
Philippines (transferred to BancNet); - HSBCHSBCHSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
Savings Bank Philippines (transferred to BancNet);