The bank unit enables Colombian customers to transfer credit card balances starting from COP 300,000.
Banco Falabella, a unit of retailer Falabella, launched a digital debt consolidation tool on 9 September 2026. The feature allows Colombian customers to transfer credit card debts from other institutions directly to their CMR credit card using the mobile app.
The 100% digital service requires no branch visits and allows users to transfer debt balances starting from COP 300,000. Customers can check available credit limits, simulate payment terms and amounts, and link the original institution's card to complete the transfer in four steps.
According to figures from Banco de la República and TransUnion cited by the bank, Colombian households currently allocate between 37% and 40% of their monthly income to debt servicing. The new feature offers a preferential interest rate to help unify multiple debt obligations into a single monthly payment.
With digital debt consolidation, we are responding to that behavior, allowing them to consolidate debts into a single product and access preferential rates that allow them to pay less interest than in other products.
Newsletter
Markets in your inbox, weekly
LATAM-focused analysis, investing ideas, and the week in finance.
Keep reading
