The Electronic Funds Transfer (EFT) system allows banks to make orders for credit fund transfers quickly, safely and efficiently.
The participants of the Electronic Funds Transfer - Credit system, namely, credit institutions, Banco de Cabo Verde, the Treasury Directorate-General and SISP, as the managing entity, are the recipients. The system works with two daily clearances, ensuring the processing, clearing and settlement of normal (next day) or urgent (same day until 2:00 p.m.) national interbank transfers.
It is the system that clears the largest financial volume processed by SISP, having been developed 100% with the company's internal technology.
Automated and dematerialized electronic clearing was a crucial step for the national payment system, considering the continuous improvement in the provision of this service to the financial sector, the optimization of the information transmission process and the reduction of the operational and administrative costs inherent in the responses to requests for account data, return and in the processing of transfers without BIN, among other advantages.