Immediate interbank transfers rose 114% in Peru

Thursday, March 14, 2019

By Asbanc

Lima, March 14, 2019 (machine translation)

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Immediate interbank transfers, which allows payments or transfer money instantly without having to carry cash, continued to grow among users of Peru's financial system.

During 2018, more than 2.6 million transfers were processed against the 1.2 million registered in 2017, which meant a growth of 114%, informed César Ferreyros, general manager of electronic compensation chamber CCE, an entity belonging to the Association of Banks of Peru (ASBANC).

He added that the transfers not only grew in number but also in value, reaching 5.7 billion soles, a growth of 94% with respect to 2017. Immediate transfers are available in the system since the first semester of 2016.

Also, in the first two months of the year 2019, these immediate operations grew by 80% compared to the same period last year. It is expected to end 2019 with 3.9 million immediate transfers made, given the availability of the system that now reaches 99.87% of financial institutions in the Peruvian market.

"The preference for immediate transfers is due to the fact that they are a more agile mechanism (less than 15 seconds to be processed) than deferred interbank transfers and above all that allow users to previously verify the recipient's name and account, which avoids wrongful deposits," said Ferreyros.

Regarding credit card payments, the amount paid with immediate transfers increased by more than 175% compared to last year. However, despite the growth, 96.6% of the credit cards that exist in the country are still paid in cash.

He stressed that, to date, 16 entities have the service of immediate transfers available to their customers: BCP, BBVA, BanBif, Bank GNB, Bank Pichincha, Bank of Commerce, Bank of the Nation, Caja Arequipa, Caja Piura, Caja Sullana, Caja Trujillo, Citibank, Crediscotia, Interbank, Mibanco and Scotiabank.

Deferred transfers

Regarding the deferred transfers, the entity informed that during 2018, 22.9 million transfers were processed, which meant a growth of 25% with respect to 2017, year in which it reached 18.4 million transactions.

The amount involved in deferred transfers during 2018 reached 154 billion, 18% more than in 2017, when the figure reached 101 billion in transfers.

Ferreyros recalled that interbank transfers serve to pay into account between users of two different entities of the financial system and also to receive payments. He explained that account deposits, credit card payments, salary and CTS payments and payments to suppliers can be made. Currently, 30 entities make deferred transfers.

He recalled that in deferred transfers, if the deposit is made before 1.30pm, the money is received the same day in the afternoon and if it is deposited after 1.30pm, the money is received the next business day (at 10am). Immediate transfers, on the other hand, are received after 15 seconds but can only be made from 8:30 am to 4 pm Monday through Friday.

The CCE has virtual customer service channels to make any kind of query about CCI and a whatsapp number (9 2221 4112). Visit: