This law went into effect on may 6 of this year. It is important to mention that the digitalization of checks offers several benefits, such as the reduction of operating costs, the acceleration of the collection process, the improvement in the accuracy and security of transactions, and the convenience for customers by avoiding physical visits to the bank. It also facilitates integration with financial management systems and simplifies account reconciliation.

Dania González, deputy of Nuevas Ideas said, "the reform we promoted from the Financial Commission is aimed at creating a digital infrastructure without bureaucracy and red tape, making El Salvador more attractive for foreign investment".

The parliamentarian explains that the truncation of checks "seeks to guarantee a dynamism in the economy, the positioning as a regional leader, the technological application and operational efficiency".

"Thanks to this decree, you will now be able to cash your checks electronically, by means of a photo, without the need to present them to the bank. In addition, you will have the advantage of receiving the funds in a short time", communicated through its social networks, the Legislative Assembly.

Now long lines will be avoided, saving time, and maximizing the method, so that day by day the population can adapt, finding new dynamics by eliminating the need to print, sign and manage physical documents.

El Salvador becomes the second country in the continent to cash checks on the same day.

Translated by: A.M