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Case Study: WSBI member BancoEstado

Case Study: WSBI member BancoEstado

​CuentaRut & Caja Vecina form Chilean bank's agent banking scheme.​

BRUSSELS, 10 April 2018 ​ BancoEstado and small store owner Ester Roa Basaez has made wheelchairbound Amanda Vergara Flores’ life easier in Puente Alto, Chile. 

An account holder under the CuentaRUT offering, considered a “Vista Account” and operates with a debit card, Amanda can manage money securely: deposit, transfer or withdraw money and/or pay in different stores. There is no monthly maintenance fee ​and it has no access limitations. Women over 12 years and men over 14 years cans receive an account. 

Related to CuentaRUT is Caja Vecina, a modern, innovative agent banking scheme system that allows people, clients and non-clients – living far from centric sectors – to access various financial services offered by BancoEstado in local shops. This means she no longer has to make the trek to the BancoEstado office in her city. Instead, she can depend on Caja Vecina’s easy access format, including extended hours. Through the Caja Vecina, CuentaRUT allows customers to make withdrawals, deposits, transfers between BancoEstado accounts, pay service and credit accounts, consult balances and transfers in an easy, fast and safe way. 

Caja Vecina is not only a powerful way to help people gain access and use financial service, it’s also good business for local businesses like the one owned by Ester. Part of the programme since 2006, she has seen the success of Caja Vecina first hand. 

It encourages savings by customers, helps boost traffic to her store and sets her apart from other businesses in the area. She first learned about Caja Vecina while listening to the radio. It took her less than a month to set up the service in here store. Years later, it still serves people in the community, including Amanda. 

Why it’s important 

BancoEstado improves access to financial services by people who live in remote areas thanks to Caja Vecina while assessing the impact that its activities have on society. It’s part of an important, fundamental role played by BancoEstado to boost access to financial services for individuals and micro, small and medium-sized enterprises who seek financing in Chile. It also supports several public policies and contributes to economic growth of the country by paying taxes, generating utilities and providing liquidity. ​

Financial inclusion