Banesco’s new remittance platform

BANESCONECTA 2024: Banesco’s new remittance platform. How does it work? How long does it take to send money? Here we tell you what you need to know.

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BANESCONECTA 2024: Banesco’s new remittance sending platform

Banesco has launched a new platform called BanesConecta to send remittances to Venezuela.

How does Banesco define the platform?

Banesco considers BanesConecta to be a “portal through which you can send international remittances directly to your Banesco account in bolivars». Its differentiator is that the money arrives in a way immediate and through secure channels.

Funds sent through BanesConecta are received only in bolivars y Anyone can send moneywhether or not you are a client of the bank.

Other advantages are:

• The platform is active 24 hoursthe 365 days of the year except for closures for maintenance of the bank’s systems.
• You can access it from anywhere in the world (from a computer, tablet or smartphone).
• Competitive Commission.
• Backed by Banesco.

What requirements does Banesco request to use BanesConecta?

The main requirement is to be a natural person and have a Banesco account in bolivars. In addition, the Banesco Verde account must be active and personal data must be up to date (ID, email and phone number).

Who can send remittances through BanesConecta?

Anyone with an international debit or credit card can send remittances through BanesConecta. They must also have access to the account associated with the card in order to validate it when registering it.

What is the commission?

According to information provided by Luisana Figueroa, executive product manager, the commission for sending remittances is 4%, while the exchange rate is the one indicated by the Central Bank of Venezuela.

How safe is it to send remittances through BanesConecta?

Juan Carlos Fonfria, VP of products, services and payment methods, points out that sending remittances through this new mechanism that Banesco is assigning is very reliable and secure because it has three levels of validation.

«The first level is when I am registering, through email validation. The second level is when I am registering the card. At that moment, a micropayment is generated because I am making sure that you have the physical card and that you are the person, because you have to have immediate access to the account to validate the micropayment. And a third level is when the payment is going to be made, because at the moment in which I am selecting the card, it asks me for the CVV again,» says Fonfria.

What is the minimum or maximum amount?

At the moment there is no minimum amount for sending remittances, but there are maximum amounts.

• $500 can be sent daily,
• The maximum monthly amount is $4,000
• The amount increases annually to $8,500.

The sale of remittances received will be generated through retail.

How to use BanesConecta?

For Banesco clients, access to the portal is via their BanescOnline credentials. In the case of users or new clients, they must register on the page and follow the instructions.

In the first step, Users must register the card that will be used to send remittances, completing all the dataThe platform will request a micropayment to authenticate the card information. This is a minimum amount that will be reflected in the transactions of the bank account associated with the card. The amount of the Micropayment is refunded to you upon completing the affiliation according to the processing times of your bank.

Finally, Through the Send Money option, the user selects the affiliated card, enters the requested information and completes the beneficiary’s data. (ID number and amount to be sent) who will receive the remittance immediately in their Banesco account, in bolivars.

BanesConecta can be used from any mobile or desktop device and is compatible with iOS and Android operating systems. The system allows the affiliation of up to 3 international credit or debit cards and allows transactions to be made 365 days a year, from anywhere in the world.

How to register in BanesConecta?

This is how it works step by step:

• Enter the portal from the option Banesco.com > Internet Banking > BanesConecta.
• Click the Register button.
• Complete the registration form with your personal and contact information
• Click the Submit button.

Once this is done, the person will receive an email with a confirmation link which they must click on to activate the account.

For more information, you can consult the website of Banesco.

BANESCONECTA 2024: Banesco’s new remittance sending platform