The BCRA Authorized Non-Bank ATMs to be linked to Already Existing ATM Networks

Buenos Aires, April 10th, 2018. Today, the BCRA decided to allow non-financial institutions to be linked to ATM networks with a view to easing their inclusion in the payment system.

The approved regulation aims at encouraging the establishment of ATMs other than those of currently existing networks (Banelco and Link). In this respect, financial institutions are required to link, by themselves or through payment processing networks, the ATMs of non-financial companies to the accounts and debit cards of their clients. Equal terms must apply as regards network connection for all institutions, whether financial or non-financial, that are included in the payment system.

The BCRA’s decision was approved through its Communication A 6483.

Although there are already bank-operated ATMs installed outside the premises of bank branches, the BCRA—in compliance with its objectives of financial inclusion and development of the financial system in a competitive environment—adopts this measure to encourage non-financial institutions to install ATMs in commercial chains or in other public places in order to facilitate cash withdrawals, transfers, and payments as well as other electronic transactions.