Buy bitcoin with PESONet

What is PESONet?

PESONet is the Philippines' batch electronic fund transfer scheme, launched in November 2017 under the Bangko Sentral ng Pilipinas' National Retail Payment System and administered with Philippine Payments Management Inc. It moves pesos between accounts at BSP supervised banks and e-money issuers, and the BSP describes it as the electronic replacement for the paper cheque. It is the higher value counterpart to InstaPay, which is real time but capped at 50,000 pesos per transaction.

Speed

Payments clear in batches across three settlement cycles and credit the same banking day if sent before a cut-off, otherwise the next banking day.

Cost

Fees are set by each sending bank or e-money issuer rather than by the scheme, so they vary by institution and channel.

Limits

PESONet sets no scheme-wide minimum or maximum, so any per transaction or daily cap comes from the sending institution.

Speed and cost describe the rail itself. What an exchange adds on top varies by platform and is shown per exchange below.

Using PESONet in Philippines

PESONet appears in one country guide on this site, the Philippines, where deposits settle in Philippine peso (PHP). Buyers there fund exchange accounts with GCash, Maya, InstaPay, Credit or debit card and others as well, and the country guide ranks the exchanges that take each one.

Buy bitcoin with PESONet in Philippines