#ge bank

For the past week, all ATM machines of GE Money Bank went offline because of a system-wide crash. The bank has been frantically fixing the problem ever since. The problem started when the bank scheduled a system update which resulted into a crash. GE Money Bank released this notice to the public: ATM services have been restored, GE Money Bank ATM cardholders may claim their new ATM PINs at their branch of account starting Monday, Nov. The Bangko Sentral ng Pilipinas (BSP) clarified that it never required banks and e-wallets to waive digital fund transfer fees, despite issuing Circular No. BSP implemented Circular 1238 last July 4, 2026, requiring that any gap between intrabank and interbank transfer fees only reflect the cost of routing a transaction through a payment network. BSP pegs this cost, called the "switch cost," at P1.50, meaning banks with free intrabank transfers should charge no more than P1.50 for interbank ones. Since then, several banks have gone ahead and made interbank transfers free entirely, with most of the country's top 20 financial institutions already complying. Read more in our articles including "GE Money Bank ATM crashes" and "BSP clarifies bank transfers need not be free".