Nubank Introduces Free Instant Transfers in Colombia through Redeban Partnership

Nubank has launched free instant transfers in Colombia through its partnership with Redeban, enabling transactions across multiple banks and digital wallets. Users can sign up with unique identifiers to streamline the process. This feature is being gradually rolled out in March 2025, enhancing financial accessibility ahead of the Bre-B payment system’s introduction.

Nubank has partnered with Redeban to introduce free instant transfers for its users in Colombia, facilitating transactions to and from various banks such as Bancolombia, Davivienda, Nequi, Daviplata, and additional digital wallets. Redeban, a major payment network, simplifies electronic transactions between financial entities, enhancing the efficiency of money movement in the region.

Users can choose to register their unique payment identifier using methods such as Nu Key (@Nu Placa), phone number, email, or national ID, thus eliminating the necessity of sharing lengthy account numbers. This innovative approach streamlines the transfer process, making it more user-friendly.

The rollout of this feature will occur progressively throughout March, enabling customers to activate their payment keys via the Nu app. According to Santiago Matamoros, Director of Product at Nu Colombia, “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.”

Nubank’s introduction of instant transfers precedes the planned launch of Bre-B, Colombia’s nationwide real-time payment system, scheduled for mandatory implementation in September 2025. Although Bre-B will require interoperability among all financial institutions, the collaboration with Redeban allows Nubank users to conduct instant transactions ahead of the system’s official rollout.

Nubank entered the Colombian market in 2020 and has since reported a remarkable growth, boasting 2.5 million users by the year 2025. This expansion reflects Nubank’s commitment to providing accessible financial solutions in Colombia.

In conclusion, Nubank’s introduction of free instant transfers in partnership with Redeban marks a significant advancement in the Colombian financial landscape. By enabling seamless transactions and offering user-friendly payment identifiers, Nubank empowers customers with enhanced flexibility. This initiative is strategically positioned ahead of the Bre-B system launch, further solidifying Nubank’s presence in Colombia with notable user growth since its entry in 2020.

Original Source: latamlist.com