The Financial Market Commission (CMF) announced the elimination of the coordinate card as a verification method in payments and electronic transfers. The measure seeks to reduce the risks of fraud and modernize authentication systems in the country.
Why is the coordinate card removed?
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The CMF explained that traditional verification methods, such as the coordinate card, have become vulnerable to new forms of digital fraud. “The transition to more advanced systems allows us to strengthen the security of users,” the authority indicated.
Some customers have expressed concern about the difficulty of adapting to digital tools such as keys in mobile applications, which led the CMF to set August 1, 2026 as the deadline for the use of the card.
What alternatives do banks offer?
With the retirement date approaching, Financial institutions have begun to implement more modern authentication methods:
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State Bank: Since November 2025, the coordinate card began to be deactivated. Now customers use BE Pass (key) or BE Face (facial scan using cell phone).
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Banco de Chile / Banco Edwards: They will keep the card valid until August 1, 2026. It is used Mi Pass to authorize transactions.
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Santander Bank: It informed its clients that from March 9 the card will be replaced by the Super Claveaccording to Radio Biobío.
How to protect yourself from changes
The CMF recommends users:
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Find out from your bank about new authentication systems for payments and other operations.
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Request assistance if there are doubts about the use of digital methods.
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Ensure continued access to your financial operations while new systems are implemented.
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Do not share passwords or access mechanisms, since they are personal and non-transferable.
What advantages do new methods bring?
According to him Sernacthe main benefits include:
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Greater security: Obsolete methods are replaced with strengthened authentications, reducing the risk of identity theft.
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System modernization: Operations will be faster and are aligned with international standards.
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Greater traceability: Each transaction will have a unique code, reducing the possibility of key reuse.
With these updates, banks want users to adapt to more secure and efficient systems before the coordinate card becomes invalid.
