The Popular Banco*, a subsidiary of the Aval Group, said that all its clients with a debit card visa – new or current – can already Receive remittances from the United States and Spain In a maximum estimated time of 30 minutes, thanks to the integration of Visa Direct technology.
(Read more: retreats of unemployment for $ 3.79 billion in Porvenir to June)
The service, which operates through platforms such as Western Union and Paysend, represents an advance against traditional shipping times, that range between 24 and 72 hours. The service takes relevance if one takes into account that, according to a Corficolombiana report, remittances towards Colombia have registered sustained growth since 2021.
This increase has been driven by the dynamism of the migration of Colombians abroad and for the good economic performance of countries such as the United States and Spain, main remittance emitters towards the country.
The entity projected that by 2025, they reach US $ 13,000 million, $ 56.6 billion or 3.1% of GDP. Of these remittances, it is estimated that 67% come from the United States and Spain and that they would grow 2.2% and 2.1%, respectively at the end of this year.
(Read more: Dian clarified it: If you earn more than this sum of money, you must declare rent)
Remittances
The above shows that remittances are an important tool for the development of the country, facilitating the financial support of emigrants to their loved ones in their country of origin.
“With this functionality, we take another step towards the modernization of the service we offer. We are on the side of our clients, offering new possibilities, thanks to strategic alliances with specialist partners in all these issues, to facilitate the mobility of your money in real and safely, in two of the main destinations from which these resources are sent”said María Fernanda Suárez, president of Banco Popular.
(Read more: the end of a golden era and privileges? The panorama facing the dollar)
Portfolio writing
*Banco Popular is part of the business group that controls the El Tiempo Editorial Society, to which portfolio belongs.
