ENCASH Network Services
Introduces Independent ATM Network

ENCASH, the first Independent ATM Deployer (IAD) in the Philippines has recently announced the establishment of ENCASH Network Services (ENS).  ENS is an Independent ATM Network mainly for rural, savings, thrift, and private development banking institutions.  The top four rural banks in the country, namely: Banco San Juan, Bank of Florida, GM Bank, and Bangko Luzon, have already enlisted for the network service, which is set to become operational by the fourth quarter of 2006.  ENS aims to implement the new ATM system in over 50 branches within the next two years, and eventually reach all rural banks in the Philippines.

ENS ATMs will be stationed more appropriately at points where commercial banks have the least presence.  For a minimal convenience fee, cardholders of ENS member banks, as well as those of commercial banks under Bancnet, Megalink, and Expressnet will be able to withdraw cash from these ATMs, without the hassle of traveling farther distance in order to reach an Automated Teller Machine.  This will assure ATM cardholders, especially those who reside in less accessible provincial areas, that distance and time-of-day will no longer pose as a hindrance, should they wish to access their bank accounts.

ENCASH intends to bring rural and provincial banks to the forefront of banking technology with its secure, advanced, standards-compliant network.  ENCASH Network Services aims to prove that rural banks can be at par with more established commercial banking institutions without having to incur high costs.