Decree 4689 Through which a Title is Added to Book 1, Part 2 Of Decree 2555 to promote the access and Prevalence of Financial Services

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This decree establishes the minimum requirements which financial entities must fulfill to offer electronic deposit services in Colombia. The requirements to extend this financial services are to be associated with at least one other financial instrument, to clearly state the transaction channels to which clients will have access, and to establish the maximum time a deposit can remain without funds.

When the deposit contract allows cash withdrawals, the product must include the phrase "Deposit of Electronic Money" when advertised to the public. In that case,a client should be allowed to withdraw the account's entire balance through this channel.

 

Document Details

Title (Non-English): 
Decreto 4687 por el Cual se Adiciona un Título al Libro 1 de la Parte 2 del Decreto 2555 con el Objeto de Promover el Acceso y la Profundización de los Servicios Financieros
Document Type: 
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Doument Author (Entity): 
Authoring Country: 
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Issue Status: 
Year of Document: 
2011
Date of Document: 
Sunday, December 11, 2011
Document Authors: 
Presidency of Colombia
Language (This Document): 
Spanish

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