Decree No. 1491 for the Operation of Specialized Societies in Deposits and Electronic Money


This Decree regulates the minimum conditions to open an  electronic deposit account in Colombia. The deposit must be associated with one or more instruments allowing the transfer of funds through text messages. The service contract shall establish whether the Specialized Society in Deposits and Electronic Money (SEDPE) will offer an interest rate for its services.

To open a simple electronic deposit account, the client will only need to present his name, identification document,and identification number. The account's transaction limits must be communicated to the client before the settlement of the contract. Every consumer is entitled to only one electronic deposit.

Entities must inform clients of all anti money laundering (AML) measures to which they will be subject prior to the opening of an account. 

Document Details

Title (Non-English): 
Decreto No. 1491, Reglas para la Operacion a las Sociedades Especializadas en Depósitos y Pagos Electrónicos, (SEDPE)
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Date of Document: 
Monday, July 13, 2015
Document Authors: 
Finance and Public Credit Ministry of Colombia
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