Tuesday , May 18 2021

Banco de la República does not withdraw the $ 100,000 banknote issue

After having questioned the 100,000-issue banknote issue in some sectors due to low circulation, the Bank said it did not withdraw.

Co-Director of the Bank of the Republic, Ana Fernanda Maiguashca, explained this The decision to keep the 100,000-issue bill issue is the result of the fact that digital banking is currently low in the country with regard to cash use.

"Today, in Colombia, we have 10 data per thousand inhabitants, we have 33,000 credit cards for every one hundred thousand people and 81,000 debit cards we do not use. Most people have no access to digital payment technology," said Maiguashca. XII congress Asofondosa.

As a co-director of the Bank of the Republic, the way the payment system works in the country is "a complicated problem" for the cost of digital transactions rather than cash.

"We were working on creating options for people to use cost-effective digital media, but we have not yet come in. Today, I can transfer money, however, my financial institution will say that it will take 36 hours to get something I can not tell my owner product trade, "added the issuer official.

Finally, Maiguashca emphasized that the issuer would work on reforming options of direct payments until it reached the "desirable" level in the country to be effective and formalized. "This is not a simple job or short-term, but there are many fruits to be collected in terms of access, efficiency, formalization and engagement," the spokeswoman concluded.

In March, three years have passed since the first group of accounts worth $ 100,000 with which Banco de la República wanted to respond to the growing demand for high-value money, where it had already sold millions of pieces, but there are still many Colombians who did not saw.

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