Cebuana Lhuillier Rural Bank to have BancNet ATM network by Q2 2020

Clients of Cebuana Lhuillier Rural Bank (CLRB) will be able to transact via BancNet automated teller machines (ATMs) by the second quarter of 2020, its top official said Monday.

CLRB president Dennis Valdes noted the ATM network will be available in April to June next year.

“Next year we’ll be connected with BancNet already. So that provides more access to our account holders to withdraw from more than 21,000 ATMs,” he said in an interview on the sidelines of the Financial Inclusion Forum for the Labor Sector.

BancNet is the largest interbank network in the Philippines in terms of member banks and annual transactions.

Its equity members include Asia United Bank, the Bank of Commerce, Bank of the Philippine Islands, BDO Unibank, ChinaBank, Citi bank, Development Bank of the Philippines, and Land Bank of the Philippines.

CLRB’s current ATM cards may only be used to withdraw from Cebuana Lhuiller branches.

“Hopefully, we’re targeting somewhere around second quarter of 2020. So hopefully we’ll be done with all of our testing (by then),” Valdes noted.

The move was in response to the demand of CLRRB clients..

“First of all, there are a lot of queries from clients themselves. They've been asking when they can have access also to ATMs, so that prompted us,” he said.

Valdes said plans are afoot to put up four new branches this year, possibly in Cebu, Davao, and in Angeles in Pampanga. —VDS, GMA News