Nubank has launched free instant transfers in Colombia in partnership with Redeban. This service allows users to send and receive money instantly to various banks and digital wallets using unique identifiers. The feature will be rolled out gradually in March, enhancing user experience before the introduction of the Bre-B payment system.
Nubank has introduced free instant transfer services in Colombia, collaborating with Redeban, a leading payment network in the nation. This partnership enables Nubank users to send and receive instantaneous, complimentary transfers to and from various banks and digital wallets, including Bancolombia, Davivienda, Nequi, and Daviplata.
To facilitate these transactions, users can utilize unique payment identifiers such as a Nu Key (@Nu Placa), phone number, email, or national ID, thus simplifying the transfer process by eliminating the need to provide lengthy account numbers. The feature will be rolled out gradually throughout March via the Nu app, allowing users to activate their payment keys progressively.
Santiago Matamoros, Director of Product at Nu Colombia, emphasized the impact of instant transfers, stating, “Instant transfers remove barriers for customers and give them greater freedom to move their money as needed. We believe they represent the future of finance in Colombia.”
This initiative coincides with the upcoming launch of Bre-B, a nationwide real-time payment system by Colombia’s Central Bank, which is mandated to be operational by September 2025. While Bre-B will ensure interoperability among all financial institutions, Nubank’s partnership with Redeban enables users to conduct instant money transfers even before this system is implemented.
Since its entry into the Colombian market in 2020, Nubank has reported significant growth, boasting 2.5 million users in the country as of 2025.
In conclusion, Nubank’s introduction of free instant transfers represents a significant advancement in the Colombian financial landscape. By partnering with Redeban, Nubank allows users to streamline transactions using unique identifiers rather than lengthy account numbers. This initiative promises to enhance user autonomy in managing finances, aligning with the broader evolution of payment systems ahead of the Bre-B rollout.
Original Source: latamlist.com
