Multibanco

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Multibanco
Image:Multibanco.png
Operating area Portugal
Members 27
ATMs 11,208[1]
Founded 1985

Multibanco is an interbank network in Portugal owned and operated by Sociedade Interbancaria de Serviços S.A., or SIBS, that links the ATMs of 27 banks in Portugal, totaling 11,208 machines as of October 2006. The bank members of Multibanco control the SIBS. Multibanco is a fully-integrated interbank network and offers more services than the usually found in other countries, making that one of its most known characteristics.[2]

Multibanco in itself does not only encompass ATMs. It has a full-fledged EFTPOS network called Multibanco Automatic Payment, and is also a provider of mobile phone and Internet banking services through the TeleMultibanco and MBNet services respectively. It is also the provider of the Via Verde automated toll payment service.

Contents

[edit] History

The Caixa Automático Multibanco (Multibanco ATM) was the first project developed by SIBS and started operating in September 1985, with the installing of 12 terminals in the cities of Lisbon and Porto.[3]

In 1995, the network had 3,745 ATM machines and in 2006 has more than 11,200, on which an average of more than 60 million operations are made every month.[3]

[edit] Functionalities

The Multibanco is known for having more functionalities than standard ATMs in other countries.[2] In the beginning, only cash withdrawals and balance and transactions checking was available. Later, features such as service and shopping payments, cell phone pre-paid cards loading and show tickets sales, among others, were introduced.[4]

[edit] Usage

From 2001 to 2005, the average number of transactions[5] by year is over 630 million. The number of has been rising every year, with 2005 having 719 million transactions. According to the available data of the first 11 months of 2006, this record will probably be beaten: with an average of over 62 million transactions in a month, more than 685 million were recorded from January to November.[6]

Year Number
of ATMs		 Total number of
transactions[5]
2001 8,482 527,417,947
2002 9,032 588,806,749
2003 9,521 631,912,059
2004 10,085 683,764,445
2005 10,723 719,006,591

[edit] Security

Multibanco only allows 400 Euros to be withdrawn daily and three attempts to get the card secret code. The ATM keeps the card if the user fails to introduce the correct secret code after the third attempt.[7] If the user fails to take the money out of the ATM after a certain period of time, the ATM takes out the money to prevent stealing.[8]

[edit] Other Multibanco Services

[edit] Pagamento Automático MB (Automatic Payment)

The Multibanco Automatic Payment is an EFTPOS network and started operating in 1987. It allows electronic payments made in the local of a sale, through the use of a system accepted card. Therefore, this service allows real time payments protected with security measures, with about 155.000 terminals existent.[9] In 2005, almost 500 million payments were made using this system.[10]

[edit] TeleMultibanco

TeleMultibanco was launched in 1996[11] and allows its users to check their account balance and transactions, do transfers, service and shopping payments, and request for cheque books through their cell phones.[12] In 2005, almost 2 million transactions[5] were made using this system.[13]

[edit] MBNet

MBNet allows users to do payments through the Internet and it is directed for online shopping.[14] Over 230.000 payments were done using MBNet in 2005.[15]

[edit] Via Verde and Host to Host

The automated toll payment service Via Verde is also operated by SIBS. Host to Host is the name given to the system that allows users to perform ATM transactions[5] through their own bank site, enabling online banking which has been active since 2000.[16]

[edit] Notes and references

  1. ^ (Portuguese) Multibanco português é dos mais avançados do mundo. Sociedade Interbancaria de Serviços S.A., citing Portuguese newspaper Semanário Económico in its 2006-10-27 edition. "De acordo com a SIBS (...) existem actualmente 11208 máquinas ATM espalhadas pelo país." (According to SIBS, there are 11208 ATM machines spread by the country). Retrieved on December 19, 2006.
  2. ^ a b (Portuguese) Multibanco português é dos mais avançados do mundo. Sociedade Interbancaria de Serviços S.A., citing Portuguese newspaper Semanário Económico in its 2006-10-27 edition. "A qualidade do sistema português de máquinas Automated Teller Machine (ATM) é reconhecida em qualquer ponto do globo, não só pela modernidade dos equipamentos como pela enorme quantidade de funcionalidades disponíveis." (The quality of the Portuguese system is recognized anywhere in the globe, not only for the modernity of its equipments, but also for the enormous amount of functionalities available.). Retrieved on December 19, 2006.
  3. ^ a b Multibanco: ATM Network. SIBS. Retrieved on December 19, 2006.
  4. ^ ATM Network: Operations. SIBS. Retrieved on December 19, 2006.
  5. ^ a b c d Includes cash withdrawals, deposits, account and transfers checking, payments and "other operations"
  6. ^ ATM Network. SIBS. Retrieved on December 19, 2006.
  7. ^ ATM Network: Userful Information. SIBS. Retrieved on December 19, 2006.
  8. ^ ATM Network: FAQs. SIBS. Retrieved on December 19, 2006.
  9. ^ Multibanco: EFTPOS Network. SIBS. Retrieved on December 19, 2006.
  10. ^ EFTPOS Network. SIBS. Retrieved on December 19, 2006.
  11. ^ Multibanco:TeleMultibanco. SIBS. Retrieved on December 19, 2006.
  12. ^ TeleMultibanco: Operations. SIBS. Retrieved on December 19, 2006.
  13. ^ TeleMultibanco. SIBS. Retrieved on December 19, 2006.
  14. ^ Multibanco: MBNet. SIBS. Retrieved on December 19, 2006.
  15. ^ MBNet. SIBS. Retrieved on December 19, 2006.
  16. ^ Multibanco: Others. SIBS. Retrieved on December 19, 2006.

[edit] External links


Interbank networks by region
Multiregional:

Cirrus | Maestro | PLUS
Africa:

CashNet | Interswitch | SASWITCH
Asia Pacific:

1Link | ALTO | Artajasa | atm5 | ATM BCA | ATM Bersama | ATM BII (Superkasa) | BancNet | Bankline | Cashnet | CashTree | ENS | ETC | Expressnet | Himbara | JETCO | EPS | Link | MEPS | MegaLink | MITR | MNET | NFS | Nationlink | Sanwa | UnionPay | Yucho | FISC
Caribbean:

ATH | Midas | Unired
Europe:

4B | Altın Nokta | BankAxept | Bankomat | BKM | Cash Group | CB | DIAS | Eufiserv | Euronet | LINK | Multibanco | Ortak Nokta | Otto. | ServiRed | StarNet
Middle East:

123 | BANCS | Bankernet | CSC | JoNet | NAPS | OmanSwitch | Shetab | SPAN | UAE Switch
North America:

Abby | ACCEL/Exchange | Access 24 | Advantage | Alaska Option | Alert | Allpoint | Annie | ARN | Award | BankMate | BOH | Cash Station | Checkokard | CO-OP | Credit Union 24 | Credomatic | Discover Network | Easy Answer | Express | Express Teller | Fastbank | Gulfnet | HandiBank | Handy 24 | Honor | Instant Cash | Instant Teller | Interlink | Interac | Jeanie | KETS | LYNX | MAC | Magic Line | Member Access Pacific | Minibank | Money Belt | Money Network | MoneyMaker | Money Station | MOST | MPact | Networks | NYCE | Peak | Presto! | Pulse | Quest | RED | Red Total | SC 24 | Service Card System | SHAZAM | STAR | SUM | The Exchange | Transact | Transfund | TX Network | Tyme | Universal Money Center | Via | X-PRESS 24 | Yankee 24
South America:

GlobalNet | Link | Redbanc | Telebanco | Unicard | Conexus | Suiche 7B | Banelco
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