BancoEstado has announced that, effective April 15, 2026, it will no longer charge the 300-peso fee for electronic transfers made from CuentaRUT accounts to other banks.
The move will directly impact the 15.5 million customers of this product, representing 80% of the population eligible to use this financial service.
Until now, a fixed 300-peso fee was applied whenever a user needed to send money to an account held at an institution other than BancoEstado.
Breaking down the digital barrier
Financial inclusion experts are calling the decision the elimination of a "digital poverty tax." According to industry analysis, this fee penalized low-income users who did not have the option to choose other banks.
The economic impact of this micro-fee was massive. With an average of 28 million monthly transfers to other banks, the revenue generated from these charges exceeded 8.4 billion pesos per month.
This flow of capital, which totaled more than 100 billion pesos annually, acted as a deterrent to the use of digital banking. Many users preferred to withdraw cash to avoid the charge, which fueled the informal economy and increased security risks.
Finance Minister Jorge Quiroz highlighted that the measure represents a step toward greater systemic equity. By eliminating this "toll," the funds will remain in the pockets of users, particularly those in the most vulnerable sectors.
The decision aligns the Chilean financial system with international standards. Chile is following the trend of successful models such as Brazil's Pix system and the recent ban on fees for instant transfers in the European Union.
However, specialists warn that free access must be paired with financial literacy initiatives. The challenge for the banking sector will be to ensure that the removal of these barriers translates into the strategic and responsible use of digital tools.
