CTS Withdrawal 2024: This is the procedure to withdraw your money from BCP, BBVA ATMs and more

Workers registered on the payroll can now access the money they have accumulated in their CTS accounts. As of this Monday, May 27, the regulation of the law that authorizes them to withdraw this economic benefit until December 31, 2024 came into effect. Against this, a release of more than S/8.5 billion of the funds is estimated, according to the SBS.

The procedure to withdraw part or 100% of the CTS is extremely simple. Some workers prefer to transfer the money from their accounts through the cell phone application or the website of their financial institution, while others go in person to the bank counters or ATMs to carry out this operation.

Is it possible to withdraw CTS at ATMs?

After the publication of the law that empowers workers registered on the payroll to have 100% of their CTS throughout 2024, thousands of citizens have been accessing the mobile application or the website of the respective financial entity to move the amounts of their accounts immediately. Others prefer to go to the bank offices to consult the details of this process, and withdrawal of this money is available at ATMs.

La República consulted BBVA about this alternative and they responded as follows: “Yes, you can withdraw the CTS through ATMs nationwide. To do so, the CTS account must be associated with your debit card. If you already receive your salary through a account, the linkage would not be necessary. Once you insert your card, the ATM will show you the CTS account from which you can carry out these operations,” they reported.

This same withdrawal method through ATMs is carried out at the Banco de Crédito del Perú, who confirmed that to use the funds from the CTS account, they must be moved to a savings account. However, it is necessary to mention that it is also feasible to transfer the total amount of the CTS through online banking or the bank’s mobile application to have the money immediately. You only need to make the transfer to a destination account, from where the necessary operations can be carried out.

CTS Withdrawal: This is the online procedure in BBVA, BCP and other banks

Compensation for Time of Service (CTS) is a benefit that provides workers with economic protection in the event of termination of employment. It is deposited in May and November to a bank account in the name of the employee and the procedure to access this money is enabled until the end of the year, thanks to a rule approved by Congress.

BBVA

• Access the bbva.pe page and then your Internet Banking or your BBVA App.
• Log in to your CTS account and click “I want.”
• Select the “Make transfers to your own accounts” option.
• Choose the destination account and enter the amount.
• Confirm the transfer and from the selected destination account, you can carry out all the operations or transfers you want.
• If you don’t have a Savings Account, you can open a new one. Also, you can go to any of their offices nationwide to request the withdrawal of up to 100% of your CTS. Remember to carry your ID.
• If you wish to communicate by telephone, you can call the number (01)595-0000 for questions or operations.

BCP

• You can make balance transfers from your CTS Account to your Savings Accounts through BCP Mobile Banking or Internet Banking.
• If you need to transfer to third parties, you must first do it to your Savings Accounts and then to the indicated person.
• For personalized assistance, feel free to call 311-9898.

Scotiabank

• You have the option to make transfers to your Scotiabank Savings Accounts through the application or website.
• You can also withdraw money at agencies (over the counter) or from SBP ATMs.
• If you need to communicate by phone, you can dial the number 311-6000 in Lima from a landline or cell phone, or the number 0-801-1-6000 from a landline if you are in the provinces.

How do I know if I have CTS?

The first CTS payment was made in May by employers and the next is scheduled for November 15. If you want to find out if you have a CTS account at your financial institution, read the following:

1. Enter the application of the bank or financial institution where you receive your salary and review your accounts. Once you are there, one or more should appear, among which are your CTS deposits.
2. Also, you can go to the financial institution where they deposit your salary. There you must present your ID to check if you have your CTS account, the amount you have accumulated and other details.
3. Finally, you have the option of contacting the Superintendence of Banking, Insurance and AFP (SBS). This entity has the bank reports of the activated accounts of all workers. You just have to call the number 0-800-10840 or write to their social networks.

Can I withdraw my CTS if I don’t have a job?

When you conclude your employment relationship with the company in which you were working, the human resources department will give you a termination notice that authorizes the total withdrawal of your employment. Compensation for length of service (CTS). With this letter and your ID in hand, you can go to a bank and request the withdrawal of your money easily and without setbacks.