How will it affect users with accounts in foreign banks? The BRE-B system is designed to facilitate transactions between financial entities within Colombia. So far, no direct integration with foreign banks has been announced. Therefore, users with accounts in foreign banks could face the following situations: Limitations in direct withdrawals: It is likely that they will not be able to withdraw cash directly from ATMs in Colombia using the BRE-B system, unless their foreign banks establish specific agreements with Colombian financial entities. Need for intermediaries: To access the benefits of BRE-B, these users may need to transfer funds to accounts in Colombian banks that are integrated into the system. Possible additional commissions: International transfers to Colombian accounts could be subject to longer commissions and processing times, which contrasts with the immediacy offered by BRE-B within the country. It is recommended that users with accounts in foreign banks consult with their financial entities about possible future integrations or alternatives to facilitate their transactions in Colombia.
