The Philippine National Bank (PNB) is one of the strongest, local commercial bank. It ranks in the Top 5 Banks in terms of Assets and Deposits as of 2Q2009 data. It has over 320 branches and over 400 ATM's nationwide. PNB has a very strong overseas remittance business with presence in several countries abroad which has a large Overseas Filipino Worker (OFW) population.
PNB was formerly a government bank until it was privatized and is now majority owned by taipan Lucio Tan whose interests span alcohol (Asia Brewery), tobacco (Fortune Tobacco/Philip Morris), real estate (Eton Properties), transportation (Philippine Airlines) and banking. The Lucio Tan group also owns Allied Banking Corporation.
Customers who make purchases from Dragonpay-accredited merchants can pay through any PNB branch nationwide even if they do not maintain an account with the bank. They just need to fill-up a deposit slip and validate their payment online. Note however that Dragonpay processes PNB deposits only on the next business day. There are several PNB branches that are open on Saturdays. Please check the branch nearest you for their schedules.
PNB charges a P100 handling fee for cash deposits made to its branches outside of Metro Manila. There should be no surcharges for deposits within Metro Manila.
PNB was originally with the Megalink consortium, but has since transferred to Bancnet.
Dragonpay is a Philippine-based alternative online payment solution that uses online and offline banking facilities, and other non-traditional brick-and-mortar outlets, to accept payments from a broader market base in a more secure and cost-effective manner.
