Geography: This article is applicable for ANZ Transactive – Global customers banking in the Philippines. Full details are available in Features by Geography.
This information is relevant to ANZ Transactive Cash Asia customers as part of the upgrade to ANZ Transactive – Global. ANZ Transactive Cash Asia will no longer be available post May 2025.
In line with the industry-wide initiative to continuously improve payment efficiency in the Philippines, we are upgrading our systems to enhance our PESONet payment infrastructure and are introducing the following key changes and improvements as part of your upgrade to payments in ANZ Transactive – Global.
- The beneficiary 9-digit Bank Branch Code will be replaced by the SWIFT 11-character Bank Identifier Code (BIC) as the bank identifier.
- The Beneficiary City will become mandatory in payment files in late June 2025.
To ensure PESONet payments are processed on the same day, ANZ recommends submitting payment files early, before 10am, until the industry change in late June 2025.
For a smooth move to ANZ Transactive – Global, ANZ recommends updating your beneficiaries in ANZ Transactive Cash Asia prior to your upgrade:
- For each impacted beneficiary, add the Bank Identifier Code (BIC) in the Domestic Clearing Code field:
- For file uploads, ensure the BIC is entered correctly into the BIC (Bank Identifier Code) field and not in the Bank Branch code to reduce payment rejections.
FAQs
What happens if we don’t change beneficiary details before our upgrade to ANZ Transactive – Global?
If the required changes are not made prior to your upgrade to ANZ Transactive – Global, you will need to complete them before submitting Pesonet payments to avoid potential payment failures. In ANZ Transactive – Global:
- Edit beneficiary details in your Beneficiaries list and/or in payments to include the Bank Identifier Code (BIC). You can do this by entering or searching for the BIC in the Clearing Code field:
- For file uploads, ensure the BIC is entered correctly into the BIC (Bank Identifier Code) field and not in the Bank Branch code to reduce payment rejections.
What happens if we use an incorrect BIC?
Payments with incorrect Bank Identifier Codes (BICs) cannot be processed.