A. M. Four years after its implementation, the Transfer365 service of the Banco Central de Reserva (BCR) has generated an accumulated savings of US$184.13 million for salvadorans, thanks to the elimination of commissions for interbank transfers. This innovative system, available 24 hours a day throughout the year, has become the preferred option for 9 out of 10 users to make payments and transfers.
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Since its launch on june 5, 2021, Transfer365 has processed more than 81 million transactions, amounting to more than US$74,261 million. Of these transactions, 47.7% have been carried out by women, reflecting growing financial inclusion. In addition, almost half of the transactions have been carried out during non-business hours, and more than 20% during weekends or holidays.
Currently, 26 institutions offer the service, including private banks, cooperatives, state entities and the Ministry of Finance. This wide coverage has been key to facilitate access and strengthen the culture of digital payments in the country.
The acceptance of the service has also prompted the creation of new modalities such as Transfer365 Móvil, which allows transfers using the cell phone number. This modality has mobilized US$83.99 million through 474,175 transactions, with a female participation of 51.2 %.
Likewise, Transfer365 Business has processed high-value payments for more than US$24.163 million through 235,137 transactions since its launch in 2022, while Transfer365 Central America-Dominican Republic has facilitated the sending of regional remittances for US$499.72 million with an estimated savings of US$3.5 million for users.
With these figures, Transfer365 consolidates its position as a benchmark for modernization in the national financial system, promoting inclusion, efficiency and savings for millions of salvadorans.
