The Interbank transfer service was launched in 1999. Financial entities are able to move funds among themselves, using their SINPE accounts with BCCR. Transfers are done online in real time, automatically. Because this service is used only among financial entities, transactions usually involve very high amounts. Advantages • Efficiency: This is an instrument for electronic payments, and so no paper is used, as opposed to checks. Therefore, handling costs such as transportation, storage, and custody are reduced. • Security: Because it is an electronic payment instrument, risk of loss and theft is reduced. Consequently, it is safer. Example of useBank A needs to do a short-term investment in Bank B, and so it wires an Interbank Money Transfer. The operation is processed and liquidated in real time, and as a result Bank A’s investment is applied without having to incur any unnecessary costs or risks. Working hoursInterbank transfers may be done within regular bank business hours (7:00 am-6:00 pm), on SINPE’s working days. As for transfers done to BCCR, working hours will be defined by BCCR and the banks themselves. Related documents • System of Payments Regulations (spanish) | 
