BancNet transactions hit record level in 2005

ATM network operator BancNet posted a total of over 123 million total transactions for the year 2005, the highest in the history of the 28-member bank consortium.

Cash withdrawals constituted almost half of the transactions at 60 million, followed by balance inquiry at 40 million transactions and the rest is accounted for by bills payment and shopping transactions. The network registered a high 98 percent completion rate for all transactions.

BancNet president Francisco M. Caparros Jr. reminds cardholders of possible fraud or petty crimes in the use of ATM cards.

"The PIN should be kept confidential and never divulged or shared with anybody," Caparros said in a press statement.

Unauthorized withdrawals could happen if the cardholder revealed the PIN to someone else or was not careful in covering the keypad when entering the PIN on the ATM machine.

Likewise, the three ATM networks MegaLink, ExpressNet and BancNet will display posters on ATM safety tips in their ATM vestibules. Direct mail campaigns are also being undertaken similar to what the international networks are doing. "We are likewise installing security cameras to prevent and monitor the incidence of criminal activities," Caparros claims.

BancNet is a leading multi-bank, multi-channel ATM network with over 2,000 ATMs that are interconnected with MegaLink and soon, with BPI ExpressNet. BancNet ATMs also accept international cards of Visa and China Union Pay.