A. M. 
Courtesy
Since the introduction of the Transfer 365 application in 2021, the Banco Central de Reserva de El Salvador (BCR) has reported a total transfer of more than US$46 billion. This figure reflects an impressive daily average of US$70.4 million, which translates to approximately US$2.93 million per hour. This system has significantly facilitated financial transactions for salvadorans, demonstrating unprecedented efficiency in the handling of money.
July 2024 was particularly remarkable, setting a record 3.05 million transactions made through the Transfer 365 application. During this month, the volume of money transferred reached US$2.45 billion, underlining the high demand and confidence of users in this platform. In terms of savings, Transfer 365 has enabled users to significantly reduce the costs associated with financial transfers.
The Banco Central de Reserva (BCR) estimates that fee savings reach US$106.4 million, indicating a significant reduction compared to traditional transfer methods.
These results highlight the positive impact that the digitalization of financial services can have on a country’s economy. Transfer 365 has not only made transactions easier for salvadorans, but it has also proven to be an effective tool for cost optimization in the financial sector.
