Frequently Asked Questions Cash-Free Entity Program
1. Does certification in the Program L have a cost?
No. Neither the BCCR, nor the financial advisory institution apply any charge whatsoever for the certification process.
2. Is it necessary to provide data about the amounts of business transactions to obtain a certification in the Program L?
No. The data requested in the payment matrix are only about the number of transactions.
3. Do all of the accounts required need to be opened with the financial institution with which the certification process in the Program L is carried out?
No. Both the certifying entity and all other parties involved (customers, providers, officials, etc.) may open their account and carry out their financial transactions with the financial institution of their choice.
4. What would the certification process be if my entity has branches?
The certification process must be carried out for both the headquarters and for each of its branches within the national territory.
5. How many persons must be part of the L team in the entity that is to be certified?
This depends on the size of the entity. It is recommended that the L team be made up of at least 2 persons, with no specified maximum.
6. Is there a deadline for submitting a request to participate in the Program L?
No. Entities that would like to be certified may submit their request to the BCCR whenever they consider it convenient.
7. When is it necessary to send the payment matrices to the BCCR?
Payment matrices must be sent to the BCCR during the first ten calendar days of the months of January, April, July and October.
8. Is there a list of certified entities in the BCCR?
Yes, the entities that are certified are published in the page Certified Entities, as well as those that are in the process of certification, according to reports from the financial advisory institution.
