Transfer 365 of the Central Reserve Bank of El Salvador strengthens financial inclusion and allows operations of more than $120,000 for businesses

The government of President Nayib Bukele, through the head of the Central Reserve Bank (BCR), Douglas Rodríguez, launched the Transfer365 Mobile and Transfer365 Business online payment systems.

The launch of these services is part of the efforts led by the government to provide efficient, innovative, and agile services to Salvadorans.

«We want to improve the user experience. It will no longer be necessary to provide the bank account number, only the cell phone number, and they will be able to receive their transfers. Transfer365 is immediate settlement and is free», explained the president of the BCR.

Transfer365 Mobile can be used from anywhere in the country and outside the territory. Salvadorans will be able to find it within the electronic channels of the financial institution of their choice, Rodríguez added.

Also, companies will have at their disposal the Transfer365 Business platform, aimed at executing high-value payments that boost economic activity.

The BCR’s head stated that transfers of up to $120,000 can be made using Transfer 365 Business, which eliminates the need for checks and allows for faster processing.