About Netbank Mobile

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Who is Netbank?

Netbank Mobile, an integral component of Netbank's retail banking lineup, grants users access to a diverse array of high-yield banking products.

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Adding to its innovative suite, Netbank introduced Netizen in May 2022, targeting the distinctive financial requisites of our esteemed Kababayang Pinoy OFWs within the retail banking domain.

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Netbank is poised to unleash the Netbank Wallet, catering to avid transaction enthusiasts through dedicated e-wallet accounts. Additionally, the impending launch of the Netbank Business app will serve as a boon for corporations and organizations seeking enhanced financial management.

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As a fully compliant entity overseen by the Banko Sentral ng Pilipinas and formerly recognized as the Community Rural Bank of Romblon, Netbank adheres rigorously to regulatory standards.

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Netbank proudly stands as Southeast Asia's pioneer Banking-As-A-Service platform, operating under a comprehensive banking license. Its provision of banking services in a completely white-labeled format serves as a catalyst for the rapid expansion of Filipino Fintechs and Foreign companies in the Philippines, fostering accelerated growth and cost reduction, thereby spurring financial inclusion and innovation.
 

Rest assured, all deposit products enjoy PDIC insurance coverage of up to 500,000 PHP per depositor, ensuring confidence and security.

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How do I know that my funds will be safe?

Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) and regulated by Bangko Sentral ng Pilipinas (BSP), providing a guarantee from the Philippines’ government that deposits up to Php 500,000 will always be paid back to you.

 

What services does Netbank Mobile Application offer?

Netbank Mobile Application offers:

• Simple Banking and Control, with all services offered from your mobile. 

• Regulars Savings earning interest

• Time Deposit

• Bills Payment

• Mobile Reload

• QR Code Scan/Pay

• Fund Transfer via PesoNet and Instapay

• Cash-in and Cash-Out Options

 

Who can use the service?

Our banking services are eligible for any Filipino and Resident Alien/Expats/Foreign Students. You can open a personal account and through downloading the app available on Google Play Store and Apple Store.

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Account Creation 

Where can I download the Netbank Mobile Application?

You can download Netbank Mobile Banking Application from Google Play Store and Apple Store.

 

What type of account I will get after the registration?

Regular Savings Account

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What branch do I need to select during the account application?

Netbank Mobile Branch

 

Acceptable Valid IDs to open a Netbank Savings Account.

• Philippines Passport

• National ID or PhylSys ID

• OFW I.D.

• Seafarer’s Identity Document (SID

• Driver's License 

• PRC Card

• NBI Clearance 

• Police Clearance

• Postal I.D. 

• Barangay Certification 

• GSIS e-card 

• SSS 

• Senior Citizen’s Card

• UMID

• For Resident Aliens/Expats/Foreign Students - please provide one of these documents (Alien Certificate of Registration, Passport, Visa, Immigrant Certificate of Residence, or Immigrant of Registration)

 

I’m done with the Application process, how long will I wait for the Approval/Activation?

• Applications before 5pm PST during banking days will be processed the same day. 

 

• Applications after 5pm PST will be processed on the next banking day.

 

• Applications on Fridays after 5pm PST will be processed on the next banking day (Monday).

 

• Applications during weekends and holidays will be processed on the next banking day. 

 

How to Activate my Account?

Please watch the video tutorial on how to activate your account. See Video

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Account Maintenance

What is the type of account I will get after the registration?

Regular Savings Account.

 

How much is the minimum initial deposit?

No minimum initial deposit and No maintaining balance. 

 

 What is the Interest Rate?

• Account opening starting September 1, 2023, onwards will get a 4% interest rate p.a.

• All other existing accounts will remain at their current rates.

• All existing users enjoying a 6% interest rate will receive a rate of 5.5% starting August 1, 2024. 

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*The interest rate offered may need to adjust in accordance with Netbank’s asset/liability requirements and market conditions.

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When will I receive the Interest Rate?

Daily interest crediting 

 

What is the minimum balance to earn interest?

1.00 Php 
 

Are you offering a Time Deposit?

Yes, you can open a time deposit, just log in to your Netbank Mobile Application and tap "Term Deposit.   

 

TIME DEPOSIT 

Minimum of 10,000 Php

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Term                             Interest Rate

6 months                    6% per annum

12 months                  7% per annum

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*Users will see their balance in the Deposit section of Netbank Mobile once it is processed and we will notify you including your Electronic Certificate of Time Deposit.

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To check your Time Deposit Account

1. Log In to your Netbank App

2. On the Dashboard click “Time Deposit” on the top part of the screen

3. You will see your Time Deposit balance

4. You will see all your Time Deposit Details including your balance, time deposit account number, and interest rate.​

• You have the option to roll over your funds or withdraw (we will move the funds to your regular savings account). 

• One of our representatives will message you 5 days before the maturity date to confirm whether you want to roll over the fund or not. If we did not hear anything from you before your Maturity Date, we will automatically transfer the funds to your savings account. 

• You can open up to 5 Time Deposit accounts (maximum), to add an additional time deposit account on your Netbank Mobile app  just simply tap “Time Deposit” slide left and tap the “+Add another account”

• Each customer is insured up to 500,000 Php by PDIC.

• Interest Earned is subject to a 20% withholding tax. 

• Pre-termination is subject to DST (Documentary Stamp Tax) that will be shouldered by the account holder. Interest rate is still applicable, this will be computed from the time of placement up to the date of Pre-termination.

  • Here is the formula to calculate the DST (Amount x.75% [DST] x term/365)

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Time Deposit Approval

• Applications before 4pm PST during banking days will be processed the same day. 

• Applications after 4pm PST will be processed on the next banking day.

• Applications on Fridays after 4pm PST will be processed on the next banking day (Monday).

• Applications during holidays will be processed on the next banking day. 

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How can I “Change PIN?

1. Tap on “Settings” select Change PIN

2. Put your Desired Pin and wait for the Authorization code

3. Fill in the Authorization Code and your pin is already updated.  

 

I want to Change/Update my Account Details.

To request an update/change of your account details, you can submit a request via Netbank Mobile App. Follow the instructions below.

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Step 1: Email Customer Service (CS) to request the code for the change request.

Step 2: Follow these instructions in the app:

• Open the app

• Go to Settings

• Click FAQ

• Select "Change Request"

• Tap "Change Request Form"

• Complete the required fields, including the code provided by CS, and submit the form.

Step 3: CS will notify you once the change has been implemented.

 

What do I do if I change my Mobile Number?

To request an update/change of your account details, you can submit a request via Netbank Mobile App. Follow the instructions below.

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Step 1: Email Customer Service (CS) to request the code for the change request.

Step 2: Follow these instructions in the app:

• Open the app

• Go to Settings

• Click FAQ

• Select "Change Request"

• Tap "Change Request Form"

• Complete the required fields, including the code provided by CS, and submit the form.

Step 3: CS will notify you once the change has been implemented.

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Is my funds safe?

Yes, you cannot log on without your personally created password, and making transfer transactions will require confirming your PIN.

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How can I escalate Phishing, disputes, or any other money transfer problems?

For escalations and other immediate assistance, contact us by sending us a message at cs_mobile@netbank.ph 

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Fund Transfer & Fees

I transferred funds but it was not reflected in the account.

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Netbank to Netbank 

Internal Fund Transfer (Netbank to Netbank), the transaction should also be reflected immediately.

 

Instapay

If it's a fund transfer using Instapay, the transaction should also be reflected immediately.

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Pesonet

• Crediting 10:00 AM to 1:00 PM: Transactions made from 3:31 PM the previous day to 9:30 AM the current day.

• Crediting 1:00 PM to 4:00 PM: Transactions made from 9:31 AM to 12:30 PM on the current day.

• Crediting 4:00 PM to 10:00 AM (next day): Transactions made from 12:31 PM to 3:30 PM on the current day.

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For example, if the fund transfer was made on a Friday after 3:30 PM or on a Saturday/Sunday, the transaction will be reflected on the following Monday (earliest by 10:00 AM). We suggest waiting until the end of the day before checking the account. Alternatively, you may also check with the recipient Bank for the status of the funds as posting time may vary from bank to bank. 

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I type the wrong account number as a recipient for the fund transfer. Can I cancel or undo the transfer?

A fund transfer instruction, once submitted after you key in your PIN, cannot be canceled/reversed.

 

Please make sure you input the correct account number before proceeding with keying in of your transaction PIN.

  

If you enter an invalid account number (InstaPay/PESONet) it depends on the processor - it might be debited first and credited back when the transfer is rejected by the processor.  

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Fund Transfers Limit and Fees

Pesonet 

Php 1M per Transaction Limit

Free

 

Instapay

Php 50,000 per Transaction Limit

Free

 

Netbank to Netbank

No Limit

Free 

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Cash-In/Cash-Out and Fees

List of our Cash In Agents

 

• MLhuillier                Fees 30 Php

• Panalo Express    Fees 40 Php

• VIP Center              Fees 5 Php

• Clients can also cash in/deposit via bank transfer from other banks/e-wallets to their Netbank Mobile account

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List of our Cash Out Agents

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• MLhuillier                    Fees 2% of the transaction amount

• Ayannah Network   Fees 3% of the transaction amount

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Merchant Account

To open a merchant account or business account for MSMEs, the following requirements must be met: First, an individual account is needed as a prerequisite before requesting a merchant account. To apply for a merchant account, please complete the online application form on your Netbank Mobile. Follow the instructions below. 

1. Open the App
2. Click Settings
3. Click FAQ
4. Select "Merchant Account"
5. Tap "Merchant Account Opening"
6. Complete the required Field and Submit

Prepare the following documents:

• Valid ID of Authorized Signatory

• Photo Signature

• Selfie together with your Valid ID

• Local Government Business Registration

• National Business License (DTI)

• BIR Registration (if available)

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A merchant account allows you to accept payments from your customers via QRPH QR Code. With this account, you'll generate a QR Code for your customers to scan when making payments. Please note that scanning QR Codes of your customers, as well as scanning GCredit and GGives, is currently not supported. Payment collection will only be successful when your customer scans your Merchant QR Code. The fee for any transaction amount is 5PHP. Additionally, transferring funds from your Netbank Merchant account to your Netbank Mobile account is free of charge. There are no payment limits. This merchant account also offers interest at 2% with daily crediting starting August 20, 2024. 

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The Turnaround time for the Approval after the user submits the merchant account application or after registration is listed below. 

• Account Applications before 5pm PST during banking days will be processed the same day. 

• Account Applications after 5pm PST will be processed on the next banking day.

• Account Applications on Fridays after 5pm PST will be processed on the next banking day (Monday).

• Account  Applications during weekends and holidays will be processed on the next banking day.

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Netbank is a participant in QR (Quick Response) PH (Philippines) P2P (Peer-to-Peer) and P2M (Peer-to-Merchant) transactions.

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