Financial Inclusion

Financial inclusion is access to quality financial products and services for all people. The figures show the relevance of BancoEstado, in this regard: 93% of those over 15 years of age are clients of the bank.

Financial inclusion brings with it access to many socioeconomic benefits because it helps to reduce the vulnerability of low-income households, providing them with instruments through which, for example, to reduce the variability of their consumption and manage risks better.

  • 14.9 million clients
  • 7.7 million female clients
  • 13.8 million CuentaRUT accounts
  • 1.2 million of immigrants have CuentaRUT

During the year 2022, in a context very different from that of a normal year, BancoEstado has continued to function, despite a health crisis that has imposed restrictions and complexities on us that have forced us to do our best to reach our clients. Millions of people have BancoEstado as their only financial institution for essential services. Therefore we have to be in all forms: delivering millions of bonuses and social contributions, deploying special plans and programs to those who are going through very difficult times and keeping our branches open, with all the health precautions for essential procedures, offering coverage to locations that They are more isolated due to their socioeconomic or geographical characteristics, thus contributing to sustaining the development of the country and the well-being of the population.

In this same line, the bank has expanded the number of products and services offered, allowing access to financial services to more than 14.9 million people and more than one million companies, institutions and civil society organizations.

Means of payment

Throughout its history, BancoEstado has provided millions of families with formal access to the financial system. In this context, it has fostered growth of debit card use, particularly through the CuentaRUT accounts.

Over 24.6 million debit cards and some 14.1 million credit cards issued by the banking system are currently in use. Other more traditional products such as current accounts and savings accounts are growing at a more moderate rate, reaching 7 million and 19.1 million products, respectively.

With over 14.5 million debit cards, corresponding mostly to a CuentaRUT account, BancoEstado accounts for over 59% of the cards in use in the system. More than 169 thousand clients have taken out their CuentaRUT between January and April 2022, reaching 13.8 million clients. In addition to the increase in the opening of CuentaRUT accounts, there is also a trend towards their more frequent use and, therefore, more transactions associated with them.

CuentaRUT is a personal account which, because it has no requirements as regards income or commercial history, provides millions of people with access to the financial system which they would otherwise lack. As well as being inclusive, it allows them to make deposits, transfer money, receive payment of their income (wages, pensions, subsidies and benefits), pay for services, shop from retailers and use ATMs, among other operations. Its debit card is available to women as from age 12 and men as from 14.

Profile of CuentaRUT holders: Over 14.8 million users (April 2022)

- 169,000 new clients with CuentaRUT between January and April 2022

- 87.2% of Chile’s inhabitants over 14 have a CuentaRUT

- 51% of users are women

- 51% have incomes below $ 400 thousand per month or have no income (homeowners, young people or people who do not declare income)

- 1.2 million are immigrants

-  90% of accounts registered movements in the last six months

In addition to BancoEstado’s over 13,8 million CuentaRUT holders, close to 1.7 million people have a sight account known as “electronic checkbook” and 702,000 have a current account.

In this context, it should be noted that practically the entire adult population of the country has some financial product and that BancoEstado delivers these products to 81% of the population . Likewise, 54% of the people served by the bank have incomes of less than $ 400 thousand per month.

The Report on Financial Inclusion in Chile (SBIF, March 2019) found that 97% of Chile’s adult population uses some financial product and that BancoEstado provides these products to 79% of the population.


The mass use of means of payment has meant that banks have had to develop the services provided through electronic channels, which have lower operating costs than face-to-face attention and make for greater efficiency.

As well as strengthening financial inclusion, BancoEstado has seen an important increase in the number of transactions it processes. Between January and March 2022 for example, it processed over 676 million transactions each month, up by 5% on 2021.

In this context, the transactional load sustained by channels such as CajaVecina, the Internet and the Mobile App 2.0, which process about 36 and 471 million average transactions per month respectively, stands out. These channels have increased the processing of different operations of a financial and administrative nature through their mobile phones and / or computers.

At present, BancoEstado has 2,334 ATMs (February 2022) which process approximately 9 million transactions a month. In addition, its clients use the ATMs of other banks for around a further 10.2 million transactions.

Out of the monthly average of some 611 million transactions carried out by the Bank’s clients between January and March 2022, close to 96% corresponded to automated transactions.


Insurance for all

BancoEstado has 7.5 million insurance policies in force and a total of 3.7 million insured as of February 2022.

1 out of every 4 residents in Chile has insurance protection, being the highest in terms of number of insured, thereby helping to achieve the objectives of inclusion and massive access to insurance.

BancoEstado Corredores de Seguros S.A. accounts for 14% of the premiums brokered by the country’s bank insurance brokers.

In the natural disasters that have affected the country, BancoEstado and its subsidiary have worked in close coordination and collaboration with insurance companies and the liquidators in line with a plan to solve contingencies in the shortest possible time when an event of this type occurs. In these situations, the insurance brokered by the Bank’s subsidiary typically accounts for around 40% of the claims filed.

BancoEstado Corredores de Seguros aims to offer the Bank's customers a wide range of insurance, providing peace of mind to people and micro and small entrepreneurs in Chile. It focuses on reaching segments that, due to their socioeconomic situation, do not always have access to these products. In terms of new products, companies can hire the Covid-19 Compulsory Insurance for workers, which protects private sector workers with a contract subject to the Labor Code and who are developing their work in person, in whole or in part.

BancoEstado Corredores de Seguros also created the Agricultural Insurance, which allows farmers to recover the working capital invested in the crop and / or fruit insured, in case it is damaged by any of the climatic phenomena covered by the policy, achieving greater economic stability and improving its quality as a credit subject.

Also, the BancoEstado Insurance Portal has been made available to policyholders, which aims to improve the customer experience on the digital platform. This portal allows the contracting of Personal Accident Insurance, SOAP, Daily Income for Hospitalization, Oncology and Home Protection, also incorporating the reporting of your claims by telephone.