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Solutions to the Most Frequent Problems Encountered by Users in the Financial System

The BCRA provides information about the most frequent problems in the financial system. This is to protect users’ rights and to share questions in relation to financial products and services.

I noticed that my bank has charged different amounts in my account or card statement. How do I know if these debits are applicable? What can I do if they are not applicable?

You must sign a contract when you purchase a financial product from a financial institution. It is important to read it carefully to learn about the terms and conditions under which the product or service is provided. The contract should address interest, commissions, charges, promotions with expiration date, among others.

Clients may search for and download the contract they have signed with the bank.

They can purchase products or services packages, either fully or in part. Savings accounts in pesos are opened and maintained for free as well as the debit card provided to the client. Additional products, such as credit cards, are agreed under different conditions.

All institutions are required to offer users the chance to undo (“regret button”) the purchase of a product or service and to terminate contractual relationships on line (“unsubscribe button”).

How can I know if I have outstanding debts with the bank. Where can I check my status?

The BCRA Debtors' Database records debts or unpaid amounts to financial institutions for loans or credit cards for the last 24 months. It also records rejected checks, loan defaults, or provincial taxes debts. For more information about Debtors' Databaseyou must enter your taxpayer identification code (CUIT).

The information published on the Debtors' Database is provided by banks and other institutions. Therefore, if any data should be corrected, updated, removed, or else becomes confidential, the client must request so to the institution that provided the data to the BCRA. Where appropriate, the financial institution must request the BCRA to change the user’s data on its database within the following 10 calendar days.

In the absence of reply by the institution, users can file a claim on this link.

For information about checks reported as lost, stolen or forged click here.

I suspect that some of my bank accounts have got scammed. What should I do and where should I go?

You should make a claim to the institution providing financial services and/or products or the credit card issuer involved. They will give you a claim number.

You should also fill in the the Federal Single Window for Consumer Protection complaint form Federal Single Window for Consumer Protection complaint form to formally register the complaint. For enquiries, please call toll free 0800-666-1518 or write to consultas@consumidor.gob.ar

For the BCRA to forward the claim to the Consumer Defense Office, the client must enter the claim number and the bank’s response here 10 working days after filing the claim to the reported institution.

If you suspect to have been a victim of cybercrime, you should contact the Specialized Cybercrime Unit (Unidad Fiscal Especializada en Ciberdelincuencia, UFECI) at http://www.mpf.gob.ar/ufeci or by email at: denunciasufeci@mpf.gob.ar

Important information: Do not provide personal information to strangers via email, social media, or on the phone because it could be dangerous and lead to identity theft or scam.

I want to cancel a credit card. What do I have to do? Do I have to pay in advance any of the outstanding installments?

The procedure for requesting the cancellation of a credit card must be simple and immediate, and allow revocation or termination in a single step. If the latest card statement has been paid in full, cancellation can be requested remotely, even if there are pending installments.

The cancellation procedure can be completed by email, online banking, ATM or on the phone. Some banks may require clients wishing to cancel a card service to go in person at any branch, regardless of the branch where the account has been opened. In all cases, the bank must provide the client with a receipt number of the cancellation request and cannot make any charges or fees thereafter.

I want to close a bank account. Can I get charged for it? Do I have to go to the bank to do so?

Banks cannot charge any commission or fee from the date a savings account, current account, salary account or any other account is requested to be closed. They must enable users to request the closure of an account, at least, using online banking. Accounts should be closed immediately.

In the case of current accounts that do not require the use of checks or else have a debit balance, their closure can be requested at any branch, without having to go in person to the place where the account is held.

In all cases, the bank must provide a receipt of the closing process and cannot charge any commission or fee thereafter.

Institutions must inform clients of the telephone number and email address of the contact person for customer service.

July 3, 2021.

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