A few days after the start of operations of the BRE-B Systemhe Bank of the Republic and the country’s financial institutions continue to invite users to register their Digital keyscredentials that will allow instant transfers between bank accounts of different institutions.
According to the issuer data, Since the launch of the process on July 14, more than 2,271 financial entities have participated in the registration of keys, reaching a total of more than 762 million records.
What is a BRE-B key?
The key is a unique identifier that replaces the full account number and facilitates transfers. It can be associated with easy remembered data, such as cell phone number, email, card or alphanumeric code.
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Each account can have up to four active keys, but the same key cannot be linked to more than one account simultaneously, in order to ensure that resources are transferred correctly.
Bre-B
The registration process can be carried out directly from the digital platforms of the participating entities. In the case of Falabella Bankfor example, users can do it from the mobile application, in the option Bre-B area.
Registration Operation and Continuity Date
On October 6 it will mark the start of the mass operation of the system, but it does not constitute a deadline for registration. Users can link their keys at any time, whether they already have an active account as if they open a new one in the future.
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Registering the key before the start of operations will allow you to receive and send money in real time from day one. Those who do not yet will continue to make their transfers with the traditional account number.
Bre-B
The Bank of the Republic has reiterated that no financial entity is authorized to charge for the registration of keys. The process is free and self -managed, without the need for intermediaries.
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Bre-B is part of the Central Bank strategy to modernize payment systems in Colombia, reduce friction in interbank transfers and offer users a more agile and safe experience.
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