Central Reserve Bank of El Salvador reports Transfer365 saved users USD 153.76 million in interbank fees and now handles 88.78% of payments and transfers

The Central Reserve Bank of El Salvador published updated statistics on Transfer365, reporting that the 24/7, fee-free interbank payments and transfers service has generated estimated user savings of USD 153.76 million in interbank commissions since its launch in June 2021 through the end of January 2025. Over that period, Transfer365 has become the dominant channel for domestic payments and transfers, accounting for 88.78% of such transactions in El Salvador. Cumulative activity reached 68,033,414 transactions with a total value of USD 62,811.26 million, including 3,606,959 transactions worth USD 2,785.63 million in January 2025 alone. Usage skewed toward non-standard times, with 23.30% of transactions executed on weekends and holidays and 48.18% outside business hours. The Bank also highlighted take-up of related services launched after the core platform: Transfer365 Móvil (2022) has processed 373,740 transactions worth USD 68.26 million, with women accounting for 51.2% of operations and a reported 120% increase in transaction volume between January 2024 and January 2025; Transfer365 Business (2022) has settled USD 21,563.37 million across 207,479 transfers, with January 2025 volumes up 37% year on year; and Transfer365 CA-RD (2023) has facilitated USD 388.11 million across 56,285 cross-border transfers, 55.8% generated by women, led by Guatemala with 63.1% of transactions, followed by Nicaragua (16%) and Honduras (12.5%). For Transfer365 CA-RD, the Bank estimated user savings of USD 2,764,050 since June 2023, reflecting a fee of USD 1 per transaction plus VAT compared with an earlier average of USD 35 to USD 70 via traditional channels.