Banco de Venezuela Starts Online Bank Transfer Service

Monday, November 6, 2000

Venezuelan bank Banco de Venezuela has implemented the Clavenet system, enabling online payments to US banks, as well as the ability to make fixed-term deposits through the Internet.

Clavenet clients are able to transfer money to their own accounts or accounts belonging to other individuals or organizations. The minimum transfer is US$500 and the maximum is US$5,000.

The investment service also allows users to make flexible fixed-term deposits ranging from seven days to one year, without having to to visit a bank branch.

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