Banco Estado SWIFT Code: BECHCLRM

Banco Estado SWIFT Code: BECHCLRM

The SWIFT/BIC code for Banco del Estado de Chile (Banco Estado) is BECHCLRM. BECH identifies Banco Estado, CL stands for Chile, and RM is the Santiago location code. This code routes international wire transfers to Banco Estado accounts.

Banco Estado is Chile's only state-owned bank. It holds roughly 15% of Chilean banking assets and operates the country's largest ATM network. The bank has a mandate to provide financial services to all Chileans, including those in remote areas underserved by private banks.

CLP Transfers and Chilean Banking Regulations

The Chilean peso (CLP) is a freely floating currency. Chile has one of the most open capital accounts in Latin America, with minimal restrictions on international wire transfers. The Central Bank of Chile (Banco Central de Chile) requires reporting for transactions above $10,000.

Banco Estado charges between CLP 5,000 and CLP 20,000 (approximately $5 to $20) for incoming international wires. USD and EUR transfers settle within 1 to 2 business days. The bank converts at its daily published rate, which is close to the interbank mid-market rate.

Social Programs and Government Pension Processing

Banco Estado processes Chile's government pension payments, housing subsidies, and social transfer programs. The bank's CuentaRUT — a basic debit account linked to each citizen's national ID — is the most widely held bank account in Chile with over 14 million accounts.

For international payments, Banco Estado handles a share of Chile's copper export revenue processing (Chile produces roughly 25% of the world's copper). Mining royalties and procurement payments flow through BECHCLRM alongside government and social program transfers.

How Slash fits in

Slash captures Banco Estado wire transfers and consolidates CLP payment data for your Chilean operations. Government-related payments and trade receivables are tracked alongside your other Latin American bank accounts.