Instant debit (DEBIN)
A DEBIN is an online transfer in which it is the payee that starts the process and the payer only has to accept it. In “spot DEBINs,” authorization is required for each individual transaction, while in “recurring DEBINs” only a general authorization is required.
The BCRA incorporated DEBINs in 2016. It has enabled financial institutions and new participants in the industry of means of payment to debit funds from customers’ accounts where payment has been authorized.
A DEBIN allows a person to make or receive a direct transfer, whether using mobile or online banking.
In contrast to the other means of payment, a DEBIN is an instant online transfer initiated by the payee and the payer only has to accept it. For this purpose, a “DEBIN Payment” feature has been added to the menu on online banking and mobile banking systems to enable users to make payment requests and to accept or reject any requests received.
DEBIN payments may be made in pesos and dollars between accounts denominated in the same currency. To make a DEBIN, you only need to enter the information of a sight account (single banking code known as CBU or alias CBU) or of a payment account (single virtual code known as CVU or alias CVU) without adding any other data such as identity document (DNI) or taxpayer identification code (CUIT). Recurring DEBINs can be set for automatically accepting future requests from certain accounts, specifying dates and transaction caps.
The BCRA appointed the low-value automated clearing house COELSA—regulated by the monetary authority—as the administrator of DEBIN transactions. This scheme seeks to ensure competition in the financial system.