Fast Domestic Payouts in Colombia — Overview#
Fast Pay is a Colombian payment rail that enables same-day or near real-time bank transfers between financial institutions. Cobre integrates Fast Pay as a native local payout rail, allowing businesses to disburse funds efficiently to bank accounts in Colombia while maintaining a unified balance, transaction, and reporting model.1. What Cobre Enables with Fast Pay#
With Fast Pay, Cobre allows companies to:Send fast domestic payouts in Colombia
Disburse funds directly to bank accounts through Cobre's host to host connections to the main banks
Avoid the delayed ACH cycles
Execute payouts from Cobre Balances (COP) in minutes
Track payouts through standardized transactions and reports
Transfer without any amount limits
2. Fast Pay Payouts in the Cobre Model#
A Fast Pay payout in Cobre is a local money movement with the following characteristics:Origin: A Colombian Cobre Balance (COP)
Destination: A recipient’s bank account (Savings, Current, Electronic Deposit)
Speed: Fast (same day / near real time)
Settlement: Faster than traditional ACH
Visibility: Reflected via transactions and balance updates
3. Account-Based Payouts — Paying to Bank Accounts#
Bank Accounts as Payment Destinations#
Fast Pay payouts are account-based, meaning funds are sent to recipients using their bank account details.Compatibility with a wide range of banks
Familiar experience for recipients
Support for operational and enterprise payment flows
Alignment with existing accounting and treasury processes
4. Counterparties for Fast Pay Payouts#
Cobre uses Counterparties to represent recipients in Fast Pay payouts.Fast Pay Counterparties represent:#
A recipient’s bank account information
The required routing data to execute the transfer
Reuse of recipient definitions across payouts
Unified management across Fast Pay, ACH, and Bre-B
5. Speed & Reliability of Fast Pay Payouts#
Fast Pay is designed for speed and reliability:Faster settlement than traditional ACH
Predictable processing SLAs
Suitable for time-sensitive but not necessarily instant payouts
Maximum service levels for the total payment cycle#
These are maximum service levels for the total payment cycle. Service levels are measured until the payment cycle completes, not against the maximum published time.| Channel | Availability | SLA |
|---|
| Bancolombia | 24/7 | +90% of payments close within 30 minutes |
| Nequi | 24/7 | +90% of payments close within 5 minutes |
| Coltefinanciera | 24/7 | +90% of payments close within 5 minutes |
| Banco de Bogotá | Weekday window | +90% of payments close within 45 minutes |
| BBVA | Weekday window | +80% of payments close within 60 minutes |
| Grupo Aval | Weekday window | +70% of payments close within 120 minutes |
| Coopcentral | Weekday window | +90% of payments close within 30 minutes |
| Banco de Occidente | Weekday window | +80% of payments close within 60 minutes |
Banks that are not marked 24/7 receive payments Monday to Friday, 06:00–22:00, unless a narrower window is listed below.
Connection limitations#
The following institutions have narrower receiving windows:| Institution | Receiving window | Days |
|---|
| Banco de Occidente | 08:00–21:00 | Monday–Friday |
| Banco Popular | 08:00–17:30 | Monday–Friday |
| Banco AV Villas | 08:00–17:30 | Monday–Friday |
| BBVA | 06:00–19:00 | Monday–Friday |
| Coopcentral | 08:00–17:30 | Monday–Friday |
There is no weekend service at Banco de Occidente, Banco Popular, Banco AV Villas, BBVA, or Coopcentral. Transactions initiated outside their receiving windows are processed on the next business day.Banco de Bogotá: payments initiated between 20:30 and 03:45 are processed at 04:00.
6. Typical Business Use Cases for Fast Pay#
Fast Pay payouts through Cobre are well suited for (not exhaustive):Supplier and vendor payments
Operational disbursements
High-volume recurring payouts
7. Transactions & Reporting for Fast Pay Payouts#
Every Fast Pay payout generates Transactions within Cobre, which:Debit the originating Cobre Balance
Are categorized by payout type
Appear in transaction lists and balance statements
Are included in reconciliation and accounting reports
8. Controls & Operational Governance#
Fast Pay payouts benefit from the same governance features as other Cobre money movements:Role-based permissions (Portal only)
Optional approval workflows (maker-checker)
Full historical traceability
9. Fast Pay vs Other Colombian Payout Rails#
From a capability standpoint:Bre-B → Instant, key-based payouts, for amounts under $11'550.00 COP
Fast Pay → Fast, account-based payouts, any amount
ACH → Traditional, batch-based payouts, any amount
Cobre routes payouts by automatically choosing the optimal rail per scenario without changing platforms.Cobre enables payouts to Bre-B Keys with amounts over $11'550.000 COP by resolving the key, and automaticaly routing the payment through Fast Pay
In case a payment destination is to a not Fast Pay supported bank, it will be routed through ACH
10. Summary — What Cobre Delivers for Fast Pay#
With Fast Pay, Cobre enables: Fast domestic payouts in Colombia
Direct bank-account-based transfers
Scalable recipient management via counterparties
Unified transactions and reporting
Enterprise-grade controls and auditabilityCobre abstracts the complexity of host to host connections with banks, absorbs ACH inneficiency, and delivers Fast Payments as a reliable, scalable payout capability within its broader local money movement platform.