GCash, banks say BancNet issue has been resolved

Several banks and at least one mobile payments service said Sunday evening that an issue involving BancNet that has affected their interbank transfers has been resolved.

"BancNet has advised that their global issue affecting QRPH and Instapay transactions today, March 9, has been fixed," GCash said in an update to its earlier advisory.

Banks including BPI, BDO Unibank, Land Bank of the Philippines, Philippine National Bank, SeaBank and Metrobank issued similar updates on their own social media platforms.

GCash earlier said that BancNet had informed it that incoming and outgoing Instapay transfers were encountering issues. In its latest update announcing that the problem has been resolved, it added, "If you encountered an issue during this time, rest assured your funds are safe and will be credited to your GCash wallet within 24 to 48 hours." — BM, GMA Integrated News