BancoEstado has announced it will eliminate the $300 fee for transfers made from CuentaRUT to other banking institutions. The measure will take effect on April 15, directly benefiting the 15.5 million customers who use the product.
The state-owned bank justified the decision by pointing to the massive scale of CuentaRUT, which currently covers 82% of the national population. With this change, transfers between BancoEstado accounts will now be free under the same terms as transfers to other banks.
Ongoing fees
Despite the removal of interbank transfer fees, the bank specified that other services will maintain their current costs. Operations that will continue to incur charges include withdrawals at external ATM networks and card replacements.
The fee for withdrawals at other banks' ATMs will remain $300, while balance inquiries at these devices will cost $100. In the event of loss, theft, or robbery, replacing a physical card will cost $1,000 at BancoEstado and BancoEstado Express branches.
Regarding international transactions, the institution reported that overseas withdrawals and purchases will maintain a commission of 1.90% of the transaction amount, with a minimum of US$0.50. The same fee will apply to online purchases made from Chile.
Finally, the bank noted that in 2023, it had already eliminated fees for cash withdrawals through its own channels, such as its own ATMs, branches, and the CajaVecina network.
