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Extension to No-Fee ATMs Transactions until September 30

Under the COVID-19 pandemic, and in line with the measures adopted by the Executive Power, the BCRA has extended once again no-fee ATMs transactions up to September 30 in the benefit of customers.

Financial institutions cannot charge anyone, whether a customer or not, any fees for ATMs transactions (deposits, withdrawals, balance checking) in Argentina, regardless of the amount or number of withdrawals.

Likewise, all financial institutions are still required to ensure that legal and natural persons, whether customers or not, may daily withdraw cash for, at least, ARS15,000 from ATMs.

The BCRA also extended the period during which institutions cannot charge late payment fees on instalments—including UVA loans—falling due between April 1 and September 30, 2020; the amounts due and fees will be charged from then onwards until the end of the loan.

In the same direction, the BCRA enables customers to ask financial institutions to reverse direct and automatic debits within 30 calendar days from the debit date; in turn, financial institutions must reimburse the amounts claimed within three business days from the date the debit is requested.

June 18, 2020.

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