Nubank has launched free instant transfers in Colombia through a partnership with Redeban, allowing seamless transactions with various banks. Users can register unique identifiers for easy payments. The rollout begins in March, with Santiago Matamoros highlighting the benefits for customers. This initiative precedes Colombia’s Bre-B payment system expected in 2025, and Nubank continues to grow in the country.
Nubank has initiated a significant advancement in Colombia by offering free instant transfer services. This development has come through a partnership with Redeban, a major player in Colombia’s payment ecosystem. The service enables users to conduct real-time, cost-free transactions with various financial institutions, including Bancolombia, Davivienda, Nequi, and Daviplata.
The payment process is simplified as users can register a unique identifier such as a Nu Key, phone number, email, or national ID, eliminating the inconvenience of lengthy account numbers. The rollout of this feature will occur incrementally throughout March, with customers activating their payment keys through the Nu application in a phased approach.
Santiago Matamoros, the Director of Product at Nu Colombia, emphasizes 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 is timely and precedes the expected launch of Bre-B, the Central Bank of Colombia’s nationwide real-time payment system, which is mandated for all financial institutions by September 2025.
Nubank’s proactive partnership with Redeban sets the stage for users to enjoy immediate fund transfers ahead of the broader Bre-B implementation. Since its expansion into Colombia in 2020, Nubank has experienced considerable growth, boasting 2.5 million users in the country as of 2025.
Nubank’s introduction of free instant transfers in Colombia signals a transformative shift in the financial landscape. This development enables users to navigate their finances more flexibly and eliminates barriers associated with traditional banking procedures. The strategic alliance with Redeban not only enhances the user experience but also positions Nubank favorably ahead of the impending Bre-B system implementation.
Original Source: latamlist.com
