Richard Hill (asker) Mar 15, 2016:

@Robin I wanted to know what RUT stands for in this context. Thanks for leaving the detailed explanation for other people's future reference.

Jennifer Levey Mar 15, 2016:

@Asker It's not clear what else you need/want to know beyond what's explained in your own webref.
Perhaps it'll help if I mention that the CuentaRUT was set up by the BancoEstado (= ex state-owned bank, now run as a quasi-autonomous entity) at the request of the Chilean government a few years ago as a "starter" account for folk who previously had no bank account at all. The ideas behind it included: facilitate the secure payment of wages for low-earners (reduce risk of payroll robberies), encourage people to manage their money sensibly, give access to funds 24/24 through ATMs (but without all the facilities you'd normally get from a fully-fledged debit card). There's a (low-ish) upper limit on the funds that can be held in the a/c, and (in theory) no bank charges (at least for electronic transactions).