What is the difference between the physical Debit Mastercard and the Bancnet-enabled card?

Our physical debit Mastercard today can be used to pay for purchases in-store or online.

This card is not intended for use via ATMs, since local Mastercard ATMs charge a P250 Access Fee for every withdrawal. This means that when you withdraw P1,000 your account should be debited P1,250.

Once we are fully integrated with BancNet, we will be launching an ATM card with both BancNet and Mastercard functionality. With this card, you can withdraw at any of the 22,000 Bancnet ATMs in the country at much lower fees.

BancNet ATMs only charge withdrawal fees between P10 - P18, which are controlled by the bank managing the ATM.