* Expressnet is also known for its Express Payment System ( EPS ), which was at first the debit card system of the BPI Express Teller ATM card.

Expressnet is also known for its Express Payment System ( EPS ), which was at first the debit card system of the BPI Express Teller ATM card.

Expressnet is the primary network of the following banks listed below:

* Banco de Oro is the first Philippine bank to be a member of the three leading ATM Networks Expressnet ( The Original BDO ATM Network ; the 1st BDO ATM network ), Megalink ( the Equitable ATM Network ; the 2nd BDO ATM network ) and BancNet ( the PCIBank ATM network ; 3rd BDO ATM network ).

MegaLink is the first Philippine consortium to link with both BancNet and Expressnet.

* Express Payment System, the EFTPOS system for ATM cardholders of banks who are affiliated with the Expressnet interbank network in the Philippines

LANDBANK also became the third member of Expressnet, an interbank network, in December 1991.

However, its strength among the interbank networks and the ubiquity of BPI ATMs have given birth to the Expressnet motto: " The Powerful Connection ".

Expressnet and another Philippine interbank network, MegaLink, formed an alliance on May 6, 1997, with the main ceremony held at Ayala Center.

* Expressnet ( the BPI ATM network )

* Expressnet ( The Original BDO ATM Network ; the 1st BDO ATM network )

The system eventually evolved into the Expressnet ATM consortium, which has seven members

At present, all Expressnet ATMs advertise full connectivity with BancNet ATM cards & that BancNet currently maintains Expressnet's facilities.

* Expressnet ( The BDO ATM Network )

* 1997 MegaLink interconnected with Expressnet for ATM transactions.

On July 13, 2005, Expressnet and BancNet signed a memorandum by executives of both networks.

At present, Expressnet has 3. 5 million customers and has 2, 213 ATMs operating 24 hours a day.

Expressnet was founded on February 14, 1986, when the ATMs of Bank of the Philippine Islands ( BPI ) and its subsidiary, BPI Family Savings Bank, the founders of Expressnet, were connected for the first time.

The first Expressnet transaction was also conducted on this year.

Banco de Oro joined in April 1995, BPI Direct Savings Bank, another BPI subsidiary, joined in 2000, and HSBC Savings Bank, a subsidiary of HSBC, became the latest Expressnet member on April 1, 2001.

This meant that 2. 3 million Expressnet cardholders could use their cards with MegaLink ATMs, and 2. 7 million MegaLink cardholders could use their cards with Expressnet ATMs.

MegaLink interconnected with BancNet and Expressnet for POS transactions.

A Teller Assist Unit may also share many of the same components as an ATM ( including a vault ), but they are distinct in that they are designed to be operated solely by trained personnel and not the general public, they do not integrate directly into interbank networks, and are usually controlled by a computer that is not directly integrated into the overall construction of the unit.

) Again, the same observation applies to banks as a proxy for the risk free rate-if there is any perceived risk of default implicit in the interbank lending rate, it is not appropriate to this rate as a proxy for the risk free rate.

The term open market is used generally to refer to a situation close to free trade and in a more specific technical sense to interbank trade in securities.

Wire transfer networks such as the international SWIFT interbank fund transfer system are tempting as targets as a transfer, once made, is difficult or impossible to reverse.

The Euro Interbank Offered Rate ( Euribor ) is a daily reference rate based on the averaged interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the euro wholesale money market ( or interbank market ).

A representative panel of banks provide daily quotes of the rate, rounded to three decimal places, that each panel bank believes one prime bank is quoting to another prime bank for interbank term deposits within the Euro zone, for maturity ranging from one week to one year.

Eonia ( Euro OverNight Index Average ) is an effective overnight interest rate computed as a weighted average of all overnight unsecured lending transactions in the interbank market.

SIBOR stands for Singapore Interbank Offered Rate and is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Singapore wholesale money market ( or interbank market ).

TARGET2 is used for the settlement of central bank operations, large-value Euro interbank transfers as well as other euro payments.

If a CHESS transaction is selected for RTGS settlement, then an interbank request is sent to RITS via the SWIFT FIN service.

Cirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986.

Plus ( also known as Visa Plus or the Plus System ) is an interbank network that covers all Visa credit, debit, and prepaid cards, as well as ATM cards issued by various banks worldwide.

Plus is widely used as a local interbank network most common in the United States where networks such as STAR, NYCE and Pulse also compete.

It is also used in Canada, though it is significantly smaller than Interac there, and in places such as India and Indonesia where there are many interbank networks.

The New York Currency Exchange ( NYCE ) is an interbank network connecting the ATMs of various financial institutions in the United States and Canada.

For private investors, trade at Eurex Repo is not possible at present, as it is a mere interbank market.

Debt is often issued with a repayment plan ( a " time to maturity " in some cases ), repayment times may be between a few days ( interbank cash flow management ) and 50 years or longer ( consumer real estate debt ).

This is because Visa Electron cards are also linked to the Visa PLUS interbank network.

Bancnet, Inc. is a Philippine-based interbank network connecting the ATM networks of more than forty local banks.

It is considered the largest interbank network in the Philippines in terms of the number of member banks and annual transactions.