a. What is PESONet?

A batch electronic fund transfer (EFT) service that enables high value, non-time sensitive funds transfer to any participating Banks and BSP-Supervised Financial Institutions (BSFIs)

b. Is there a cut-off for PESONet transactions?

There’s a daily cut-off of 2PM for same day transmittal to the receiving bank. Transactions done after cut-off, on holidays or weekends will be processed for transmission to the receiving bank on the next banking day.

c. When will my PESONet transaction be credited to my beneficiary?

Funds will be credited within the day if transacted prior the 2PM cut-off. Crediting time may vary depending on RCBC and/or the beneficiary bank’s batch processing time and validation.

d. What happens if my PESONet transaction is not successful? Will the money be returned to me?

The beneficiary Bank/BSFI may experience problem during crediting of funds if

(a) the account details provided are incorrect (i.e. wrong or invalid account number) or

(b) if the beneficiary account has restrictions. Should this occur, the funds shall be credited back to your account excluding the P10 service fee. In case you accidentally provide the wrong account number, a request for recovery will be on a best effort basis subject to accountholder’s consent as well as the beneficiary institution’s internal policies on recovery. These will take into consideration:

(1) availability of credited funds;

(2) beneficiary accountholder’s consent to be debited; and

(3) turnaround time.