Saturday, December 9, 2023

Instant payment service “could” present delays this Saturday

The Central Bank of the Dominican Republic (BCRD) reported that the service of instant payments could present delays this Saturday.

These delays could occur from the 8:00 in the morning until 11:00 at night.

Through a statement, the Central Bank states that swiftthe corporation that operates payment flows in the country, will carry out “a business continuity exercise on its platform.”

Likewise, he pointed out that it is a measure to guarantee the quality of the service, for which he apologized to the economic agents and the general public “for the inconveniences that this situation could cause.”

What is the BCRD instant payment service?

The Central Bank, on its website, indicates that it is a service of Payments in real time through which bank customers, making use of the electronic platforms of their respective banks, can make urgent or high-value payments, for funds transfers, credit card or loan payments, in Dominican pesos and US dollars, charged to their accounts. This service is designed on the LBTR system of the BCRD, which facilitates the real time between the banks.

It also explains that these operations are carried out with a maximum time of eight minutes for the final accreditation, from the moment the payment instruction is processed.

Generally, the BCRD instant payment service operates seven days a week from 7:00 a.m. to 11:00 p.m., with a temporary closure from 4:00 a.m. to 6:30 p.m., Monday through Friday.

On weekends and holidays, payments made outside of these hours, that is, after 11:00 p.m., are made effective at 7:00 a.m. the following day. Additionally, BCRD instant payments are available at bank branches and through electronic forms, from 8:00 in the morning to 3:00 in the afternoon.


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