What is Banco de la Nación ?: functions, services and more

The Banco de la Nación (BN) is the most important public law banking institution of the National Treasury System and the financial apparatus of the Peruvian State, since it administers by delegation the subaccounts of the Public treasure and provides the Government with banking services for the administration of public funds. Despite the pandemic, the ‘everyone’s bank‘enabled citizens to use their DNI account to carry out commercial transactions, inside and outside the country, as in the distribution of the Yanapay bonus by the Executive and the agentes MultiRed. Know the organization, functions and services provided by the national financial agent ratified with A3 rating by Moody’s International Risk Rating Agency in 2020.

What is the Banco de la Nación?

The Bank of the Nation is the financial institution under public law who represents the Peruvian State in commercial transactions with the public and private sectors, whether at the national or international level. The ‘everyone’s bank‘is attached to the Ministry of Economy and Finance (MEF), and was created in the first government of Fernando Belaúnde Terry with Law 16000, on January 27, 1966.

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In June 2021, BN obtained the Socially Responsible Company Distinction for the fifth time. The Executive President of Banco de la Nación is the economist José Carlos Chávez Accounts, designated by Supreme Resolution 018-2020-EF. This public institution is governed by its statute, by the Law of Business Activity of the State and additionally by the General Law of Banking, Financial and Insurance Institutions.

The BN receives resources and funds that are administered by the agencies of the national, regional and local government, and other entities of the national public sector, such as the collection of taxes and execution of payments. In the subsidiary role of extending financial services, it performs active tasks in a similar way to private financial entities. In cases of insufficient supply, it acts as a promoter of financial inclusion and guarantees economic development and social inclusion in Peru.

What is the mission and vision of Banco de la Nación?

Mission

• “Provide quality services to citizens and the State, expanding the coverage of services and promoting financial inclusion, through modern and self-sustaining management,” reads its website.

Vision

• “To be recognized for providing financial, innovative, inclusive and quality solutions to the Peruvian State and citizens, within a management framework based on the effectiveness of its processes and good corporate governance practices,” he adds.

Values

• Honesty
• Commitment
• I respect
• Service vocation
• Social responsibility and financial inclusion.

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What are the main functions of the BN?

According to him Regulation of Organization and Functions of the Banco de la Nación, BN-ROF-7700-001-14, the main functions of the ‘bank of all Peruvians’ are:

• Provide banking services for the National Treasury System, in accordance with the instructions issued by the National Directorate of the Public Treasury. In accordance with the provisions of the first paragraph of this numeral, said services will be offered in competition with other companies and entities of the financial system.
• Provide collection services, commissioned by the tax creditor, with the approval of the BN and a specific collection agreement.
• Perform by delegation the operations of the bank subaccounts of the public treasury.
• Receive the resources and funds administered by the agencies of the national government, regional and local governments, as well as other entities of the national public sector.
• Act as financial agent of the State, when required and authorized by the MEF, within the framework of the operations of the National Treasury System, attending to external public debt and foreign trade operations.
• Act on behalf of other banks or finance companies, in channeling internal or external resources to credit-receiving entities.
• Participate in the State’s foreign trade operations, when required and authorized by the MEF, within the framework of the National Treasury System. In this case, the BN acts by providing banking and currency exchange services, subject to the regulations that the Central Bank may dictate.
• Provide banking services, as a correspondent for entities of the financial system, in the localities where they request it.
• Receive demand deposits from natural and / or legal persons for the payments that, in their capacity as suppliers, pensioners, as well as State workers, receive within the framework of the National Treasury System
• Receive savings deposits, as well as in custody, of natural and / or legal persons in the populated centers of the territory of the republic where the private banking does not have offices, including the issuance of bank drafts and / or bank teledrafts and make funds transfers by commission and / or in favor of said persons
• Grant credits and other financial facilities to agencies of the national government, regional and local governments and other entities of the National Public Sector, with the exception of the granting of loans to companies under the rule of private law; as well as to issue, acquire, keep and sell bonds and other titles, in accordance with the law. The issuance of securities will be made according to an annual program approved by the MEF which may be reviewed quarterly.
• Carry out with public sector entities, as well as banking and financial institutions in the country or abroad, the operations and banking services necessary to fulfill the functions indicated in the regulations of the public banking entity, as well as those destined to the profitability and coverage of risks of the resources it manages. These operations will be carried out according to an annual program approved by the MEF that may be reviewed quarterly.
• Grant a single line of credit to public sector workers and pensioners who, due to their income, have savings accounts in the BN. Said line of credit may be assigned by the beneficiary for use through loans and / or as a credit card line. These operations will be carried out according to an annual program approved by the MEF that may be reviewed annually.

What services does Banco de la Nación offer?

Services for clients of Banco de la Nación del Peru:

Telegiros

• Teledrafts in national and foreign currency
• Massive.

Mortgage credits

• Homebuying
• Improvement, expansion or remodeling.

Insurance

• Debit card protection
• Protected fee insurance
• Cancer insurance
• Burial insurance.

Loans

• Classic multi-network and / or agreements
• Studies
• Purchase of debts – credit cards
• Discount for payroll (purchase of debt).

Payments

• Payment of taxes (procedure for public entities)
• Credit card payment other banks
• MasterCard BN credit card payment
• Payment between bank accounts, via Internet (SATM)
• Cell phone recharge
• Current account invoices to BN suppliers
• Salaries and pensions
• Remuneration and pensions (UOB).

Bank accounts

• Savings account in UOB agencies
• Public sector savings account in MN and ME
• Withdrawal checking account
• Current account in UOB agencies
• Checking account for state providers
• Current accounts for fishermen’s associations
• Time deposit account in UOB agencies.

Transfers

• Remittances
• Same bank charged to savings account
• Interbank charged to savings account
• Same bank charged to checking account
• Interbank charged to checking account
• Of funds abroad to pay pensioners
• Of funds from abroad
• Via LBTR (real-time gross settlement)

Cheques

• Management
• Electronic check cashing (customers)
• Check Certification / Voided Certified Checks
• Payment of checks in other places
• Payment of certified checks in other places
• Revocation of check payment
• Stop payment of checks

Microfinance Program

• Shared office – MYPE window
• Credit line – PROMYPE.

Additional services

• Currency exchange
• Payment Certifications
• Bank certificates
• Microfilm copy / issuance of current account statement
• Simple collections received from abroad
• Correspondent
• Judicial and administrative deposits
• Electronic commerce

How to contact the Banco de la Nación?

BN customer service by telephone:

• Toll Free: 0-800-10-700 (only from landlines)
• Telephone line: 01-440-5305 / 01-442-4470.

BN customer service in person:

You can go to one of the Banco de la Nación agencies closest to your preferred area and request your CCI.