See: Answers to frequently asked questions about banking products

To get an immediate answer, you can access the following frequently asked questions, where you will find information on the most consulted questions:

Banknotes and Coins

Who is responsible for issuing banknotes and coins?

The Central Bank is exclusively responsible for the issuance of banknotes and coins of the Argentine Nation

How do I get banknote and coin change?

It is mandatory for banks to provide exchange for banknotes and coins to all people who request it, whether they are customers or not.

How do I recognize a counterfeit banknote and what would the procedure be to report it?

To verify if a banknote is legal tender, you must take into account the strict security measures of each banknote that the Central Bank disseminates in Means of Payment/Current Issuances, on official social networks ( YouTube, Facebook, among others) and on the posters that you can see in banks and shops. Watch the videos with the measurements of the bills of: $2000, $1000, $500, $200, $100, $50, $20. Among the main security measures that the Central Bank implements, the following stand out:

• Watermark: it can be seen by looking at the banknote against the light. It consists of an image that corresponds to reproducing the portrait of the banknote. For example, on the 1000 peso banknote the portrait of the baker can be seen against the light.
• Optical variability ink: is an ink that contains particles that provide an optical effect of color variation when the angle of incidence of light is changed. It is applied to the number that indicates the value of the ticket.
• Security thread: succession of silver segments. Against the light appears a continuous band in which you can read “BCRA” and the number that corresponds to the value of the banknote.
• Intaglio printing: consists of a relief perceptible to the touch. Depending on the banknote, it will be located in the portrait, in the figure or other details of the design.

Where can I see the banknotes and coins that are in force?

In the Means of Payment/Current Issues section of this website you can find the technical data sheet of all the banknotes and coins in force. You can also learn about the commemorative issues at BCRAyVos/Numismatic Issues Stand.

In addition, with each launch, the BCRA disseminates the poster with the security measures that it sends to the country’s financial institutions and media.

Where can I exchange damaged banknotes?

All banks must exchange damaged/fragmented banknotes that have at least 60% of their composition, to all people, whether they are customers or not.

In addition, all banks must accept banknotes that are less than 60% deep, or the amounts or amount to be exchanged cannot be determined due to the degree of deterioration.

In these cases you can:

• Go to any bank, for example, the one closest to your home, with all the fragments of the banknotes and the evidence that justifies that the damage was accidental.
• The bank you choose to carry out the procedure must receive them and comply with the appropriate steps to send them along with all the supporting documentation to the Central Bank of the Argentine Republic (BCRA).
• The BCRA will proceed to verify them. If the laboratory report confirms the integrity of the banknotes, the BCRA will credit the approved amount to the entity that received the banknotes.
• Finally, the bank where you started the procedure will be able to give you the money or credit it to your account (if you are a customer of that bank) for the approved value.

Keep in mind that the BCRA only changes deteriorated banknotes of the Argentine legal tender, it does not exchange foreign currency.

Savings bank for the payment of social assistance plans or programs

What are the main characteristics of the Savings Bank for the payment of social assistance plans or programs?

They are opened and closed by banks, at the request of the National Social Security Administration (ANSES).

The balances that the beneficiaries receive for the universal child allowance and allowances and social assistance plans or programs are deposited there. Accreditations are also admitted for all concepts, but there is a limit (established by the National Council for Employment, Productivity and the Minimum, Vital and Mobile Wage).

The free movements are:

• Account Opening and Maintenance
• Withdrawals at all ATMs enabled in the country by any bank with no amount limits
• Cash withdrawals over the counter
• Purchases and/or cash withdrawals at participating stores, made with the debit card
• Payment of taxes, services and other concepts through electronic channels

These accounts cannot generate debit balance.

When using ATMs, notice that you will be able to see the date of the next payment on the screen.

Savings Bank Repatriation of Funds – Personal Assets Law 27.541

What are the main characteristics of the Savings Bank repatriation of funds? Law 27.541

These accounts are used exclusively for amounts from the repatriation of financial assets located abroad.

It may only be opened in his name and at his order by the declarant of the repatriation.

It may only receive accreditations for transfers from abroad whose originator is the same account holder and declarant of the repatriation.

Savings Banks

What are the possibilities of being the owner of a savings bank?

It gives us access to means of payment other than coins and banknotes. This allows for better use of time and a reduction in the security risks involved in cash handling.

What should I take into account when opening a Savings Bank?

Have your ID card at hand, a photocopy, choose an entity according to your needs and expectations (geographical location, number of branches, costs, quality of services, etc.). Learn more.

What are the requirements to open a Savings Bank?

The DNI is sufficient to prove address, name and surname, place and date of birth. However, the bank may request additional requirements. Learn more.

Can I only open a savings account, without any other services?

Yes, the opening of a savings bank in pesos may not be conditioned to the acquisition of any other financial product or service, nor integrate any multi-product package. Learn more.

Does the Savings Bank have a cost?

Savings Banks in pesos are free of charge in their opening, maintenance and in the provision of a debit card. There is also no cost to use ATMs and self-service terminals at the branches of your bank and the use of home banking.
The use of ATMs from other entities, the use of ATMs from abroad, check deposits, transfers abroad, which must be reported on your bank’s website, can generate costs.

What should I take into account when signing the contract to open a Savings Bank?

All the conditions informed by the financial institution at the time of opening the Savings Bank must appear in the contract. It is important to review it carefully, in order to avoid signing clauses about which the client is not aware and to keep a copy of it. Any modification of the agreed conditions must be notified by the entity to its customers 60 days prior to its entry into force. Learn more.

Does the use of ATMs have a cost?

If you use the ATMs of the bank where you have the savings account, there is no cost. The use of ATMs from other banks, those located in shopping malls, service stations, and ATMs abroad may have a cost, which must be reported on your bank’s website.

Can I use my debit card in other countries?

To make purchases and withdrawals in other countries, it is necessary to ask if the card associated with the savings bank allows this type of operation.

Is it possible to open free savings accounts for children under 18 years of age?

Yes, in these new savings accounts, the minor will be able to have a debit card in their name that will be free of charge. The owner of this savings bank will be the father, mother or legal representative of the minor who may: Withdraw cash from ATMs; buy in stores and transfer and pay by electronic means.

Can checks be deposited in the Savings Bank?

Yes, it is possible, but you have to bear in mind that the bank may require a minimum length of service as a customer and may also involve costs, depending on the entity.

What other benefits do I get by using a Savings Bank?

Through the savings bank you can make payments for services with direct debit, you can access discounts and operate online (Home Banking) and/or by telephone.

Is there a cost to replace a savings bank debit card?

Entities may not charge charges or commissions for debit card replacements that are made due to degaussing and/or deterioration (up to one per year).

Can I open and close an account through Home Banking?

It is permitted to open an account through electronic and/or communication means.
You can close accounts both at any branch – not necessarily at the one where the account is established – and through electronic communication mechanisms that allow the account to be closed in a single act (email, telephone, home banking, ATM).

Does the entity have to give the user the proof of closure of the bank account, when it is done by electronic means?

Yes. Banks shall provide proof of the respective closing.

Can services be cancelled by electronic means?

Yes. Banks and non-financial companies that issue credit and/or purchase cards must admit the use of electronic mechanisms to conclude contractual relationships related to credit, purchase, prepaid and/or insurance cards contracted as non-ancillary to a financial service. Notwithstanding the foregoing, in any case, said subjects must admit the use of the telephone channel in order for users to request the cancellation of the aforementioned services.

Can the bank decide to close my savings account?

The bank can proceed to close the savings bank if it has not registered movements or balance for 730 calendar days. Before closing it, it must notify you within a period of no less than 30 calendar days so that you can choose whether or not to keep your savings account.

How can I add or cancel the automatic debit of services?

You can formalise the membership through the bank where your account is located or at the company providing the service. The same option is for the cancellation of the service.

When and how can I request the reversal of an automatic debit?

You must give your bank the express instruction for the reversal of the automatic debit within 30 calendar days from the date of the debit and the refund will be made within 72 hours, with a limit of $750.

Is the financial institution obliged to issue an account summary for savings banks?

Yes. They must send it at least every 4 months by the agreed means. Banks may use free electronic communication mechanisms with their users through: a) e-mail; b) telephony; c) Internet banking “home banking”; d) ATMs and e) self-service terminals. In the event that banks decide to change the mode of communication, that is, to move from the postal item to electronic means of information (or vice versa), they must notify the user, with the means of communication they have been using and at least sixty (60) calendar days in advance of the date of its effective application. If the user decides to continue with the current communication mechanism, the bank may charge fees and/or commissions for issuing and sending the summary.

What should the user do if they do not receive the account statement?

The user must file the claim with the bank. Notwithstanding the foregoing, the corresponding consultation may be carried out through the electronic means enabled by the entity.

What happens in case of discrepancy with the movements reported in the account summary?

The user must file the claim with the bank within 60 calendar days.

When and how can I request the reversal of an automatic debit?

You must give your bank the express instruction for the reversal of the automatic debit within 30 calendar days from the date of the debit and the refund will be made within 72 hours, with a limit of $750.

Can I request the “stop debit” of an automatic debit?

Yes, you can request it up to the business day before the expiration date at the bank where you have your account.

Can the company originating the automatic debit oppose the reversal I requested?

Yes, in cases where the amount of the requested reversal exceeds $750 and the billing difference has been made effective directly.

Atms

What do I need to start trading with an ATM?

The user must have a bank account that allows them to access a card and a password to use it. The first password is given by the entity and only allows you to enter the system, create a username and a new password that only you should know.

What are the services that I can access through an ATM?

The services provided by ATMs are as follows: 1) Withdrawals and deposits in checking accounts, common and special savings accounts and credit accounts, 2) Inquiries about the balances of these accounts, 3) Transfers of funds between the same accounts, 4) Payment of public services and the like, 5) Order for the issuance and withdrawal of fixed-term deposits, 6) Any other banking service that is possible without the intervention of persons, whether or not they depend on the bank.

What should passwords be like to operate with an ATM?

They must be safe and must be modified periodically. Keep in mind that they are difficult to guess and easy to remember. That key should not be your personal address, date of birth, or other number that can be easily obtained from documents kept in the same place as the card. When operating at an ATM, personal safety must be considered. Do not enter your personal password in the presence of unknown people, even if they intend to help, or provide the card to third parties.

How to act in case of difficulties with an ATM?

In case of difficulties, do not accept the collaboration of strangers, contact your bank and the one that manages the ATM.
To avoid inconveniences, do not enter your password in the presence of third parties, keep the magnetic card in a safe place and verify its existence periodically.
If there are differences between the receipt issued by the ATM and the amount actually withdrawn when withdrawing money, contact the bank that issued the card so that they can solve the problem.
In the same way, in case of loss or theft of the card, report the situation immediately to the bank.
Avoid using ATMs when abnormal messages or operating situations are encountered.
Don’t forget to pick up the magnetic card at the end of your operations.

What to do when the ATM hands out counterfeit bills?

It must be resolved by the parties with the intervention of the ordinary courts. The customer can make the claim to the corresponding bank.

What do I need to consider when making a deposit at an ATM?

Make sure to insert the envelope containing the cash or checks and the first receipt issued by the cashier during the processing of that transaction into the corresponding slot. It is advisable to keep the receipt that the machine provides at the end of the operation to make a possible claim later.

Can the bank charge me for using an ATM?

If you have a Savings Bank in pesos, the use of the ATMs of the entity of which you are a customer has no cost, except in the case of ATMs located outside a bank branch (shopping malls, service stations, etc.). Carrying out operations at ATMs of another bank and at ATMs outside the country may have a cost that must be reported on your bank’s website.

How much money can I withdraw per day?

ATMs have daily withdrawal limits that depend on each bank. You can check with your bank for the possibility of increasing or reducing the withdrawal amount assigned to your account.

Can the bank force me to carry out certain transactions through ATMs?

There are no BCRA regulations that require the use of ATMs as the only alternative to operate.
Remember that you can make transactions over the counter without restrictions on the type of operation or minimum amount.

I live far from ATMs, how can I go about getting cash or making other transactions?

The Central Bank of the Argentine Republic has enabled new ways to obtain cash: now you can go to participating businesses: supermarkets and pharmacies, among others. This is because the BCRA does not regulate the number or location of ATMs, a decision that is made by financial institutions.
Remember that you can also use the debit card to pay for your purchases and home banking to make transfers, which are easier if you use the recipient’s CBU alias instead of the traditional CBU.

Is there a cost to use ATMs located in shopping malls, gas stations, etc.?

If you use ATMs located in shopping malls, service stations, etc., keep in mind that these operations may have a cost. Therefore, they have to inform you in advance of the admitted operations, their price, that this price will be the same regardless of the number and type of transactions, show you the legend “This operation in a financial institution could have no cost” – and allow you to desist from its use at no cost.
The bank will not be able to charge you any type of commission in addition to that reported by these ATMs.

How to avoid unknown or possibly fraudulent operations on your accounts?

If your bank offers home banking services, take advantage of this advantage and monitor your transactions daily, avoiding waiting for your account statement to arrive every month to check if there are any suspicious purchases, withdrawals or transactions that you are unaware of.

What to do if you had problems obtaining cash at ATMs?

• Do not accept help from third parties unless it is staff of the entity.
• Try to cover the button box when you enter your PIN at an ATM to prevent criminals who are dedicated to scamming from stealing your data through the small cameras that they usually install pointing at the indicated box to see the secret number that is entered.
• If you are going to withdraw or deposit money from ATMs, check that there is no foreign device installed through which the card or money is inserted.
• If you have any inconvenience when using an ATM during banking hours, ask for help or attention at the bank. When this is not possible, contact the contact numbers that the credit or debit card company offers as support.

What do you have to take into account if your credit card is blocked, disabled or withheld?

• Keep in mind that the bank can block or disable your card when it deems it necessary, based on security measures.
• Remember that, if the above occurs, the bank must inform you of this situation through one of the electronic means of communication available that same day, also indicating the reasons for the measure and available channels to process the reinstatement of your card.
• Institutions will have to enable the rehabilitation of products/services through one of the electronic means of communication that they usually use to communicate, and/or in any case, in person, at any of their branches.

Declined Check Center

How do I access the Declined Checking Center?

You can consult by clicking here.

How can I find out which bank reported the checks linked to my CUIT/CUIL/CDI in the Central of Rejected Checks, or if I am included in the Central of Disqualified Current Account Holders?

You must send by mail or present at the BCRA Ticket Desk a signed note addressed to the Information Management Desk, accompanied by a simple copy of your ID card. In it you must request the data you are looking for, and include your personal data, your CUIT/CUIL/CDI number, an email and the postal address where you will receive the answer. If the presentation is made by a proxy, it must be accompanied by a photocopy authenticated before the National Notary Public of the corresponding power of attorney.

What do I have to do to modify an inclusion and/or an erroneous piece of information in the Central of Rejected Checks?

The information published by the BCRA is provided by the different financial institutions. If there are errors, your bank must request the correction from the BCRA.
Any complaint you may have to make, contact your bank’s customer service manager .

How do I prove the cancellation of a bounced check? (Point 8.3 of the Bank Current Account Regulation)

The cancellation of rejected checks can be demonstrated with any of the following alternatives:

• Presentation of the covers or certificates for the exercise of civil actions – as appropriate – before the bank drawn, that is, the one from which the funds were to leave or be debited
• Proof of collection issued by the creditor whose signature is certified by a notary public, by a competent judicial officer or by the entity drawn in the case of checks drawn on paper and by the legitimate holder in the case of ECHEQ
• Deposit in the drawn house – in the customer’s current account separating the respective amounts or in a special demand account – of the amounts of the relevant cheques with interest calculated from the date of rejection to the date of imposition of the funds
• Judicial deposit of the amount of the cheques with plus interest calculated from the date of rejection to the date of deposit. The rate to be applied for these last two alternatives is the one applied by the Banco de la Nación Argentina for previously unsolicited current account overdrafts.
• Return of ECHEQ to the drawer ordered by the legitimate holder to the financial institution of which the latter is a customer.

The processing of cancellations of rejected checks must be carried out before the operating banks drawn and then communicated by them to this Central Bank.
Cheques are cleared after the deadlines set out in Section 1., Point 1.3. Criteria for the dissemination of the Ordered Text Central Information Centers, which can be consulted on the website that this Central Bank maintains on the Internet under the option “Financial System” “Legal and Regulatory Framework” “Regulations and Summaries”, on regulations.

If I paid the fine for a rejected check, when do I stop appearing in the Central of disqualified account holders? (Point 8.8 of the Bank Current Account Regulation)

Disqualifications arising from the non-payment of the corresponding fine for each rejection of a check cease within 30 calendar days from the date on which the cancellation of all the fines due is verified and demonstrated.
If the fines are not paid, the effects of the disqualification to operate in a current account cease 24 months from the inclusion in the base.
Account holders are excluded from the central as of the expiration of the aforementioned periods.
Persons who are disqualified by judicial decision or for other legal reasons shall be excluded from the basis when the period provided for in those decisions expires or, where appropriate, when the circumstance is revoked by the competent magistrate.

How do I prove the payment of the fines? (Point 8.4 of the Bank Current Account Regulation)

The payment of fines can be demonstrated with any of the following alternatives:

• Deposit in the house drawn of the relevant amounts with express proof of the identification data to which they must be attributed.
• Judicial deposit of the amount of the fine.

What is the procedure for lost, stolen or forged checks? (Point 7.2 of the Bank Current Account Regulation)

The procedure is established in the point indicated and in the regulatory interpretation given by the Regulatory Applications Management of this Central Bank.
The latter can be consulted through the page in the Financial Systems | Legal and Regulatory Framework | Interpretations and Questions.
The obligations to be borne by the holder or, where appropriate, by the dispossessed holder, are as follows:

• Immediately notify the entity of the contingency that has occurred, by telephone or by other appropriate means.
• Personally ratify, on the same day, the complaint at the house where the account is located, by means of a note with the following minimum data:
a) Name of the entity and the house in which the account is opened.
b) Number and name of the account.
c) Reason for the complaint.
d) Type and numbers of the documents affected.
e) Full names and surnames of the complainants, type and number of the documents they submit to establish their identification.
f) To add, within 48 working hours of the submission of the note referred to in point 1, the reliable accreditation of the pertinent complaint, made to the competent authority, in accordance with the provisions of the regulations in force in the jurisdiction in question.

It is emphasized that the procedure must be completed in its entirety before the entity where the account is located, which will be effective for checks that are rejected from the date of its fulfillment.
If this is not complied with, the entity must proceed to include the value(s) in question in the “Rejected Cheques Central”.

How long do I have to wait for the cancellation of rejected checks to be registered in the “Declined Checks Central”?

The cancellation will be registered according to the following criteria:

1. Checks cancelled within 15 calendar days of the rejection date will be cancelled within 2 business days in which the entity communicates the cancellation.

2. Checks cancelled between 16 and 90 calendar days from the date of rejection will be cancelled one year after the date of payment, to the extent that they have been informed by the entity.

3. Checks paid after 91 calendar days from the date of rejection will be cancelled two years from the date of cancellation, to the extent that they have been informed by the entity.

4. Uncanceled checks will be canceled 5 years from the date of rejection.

5. Rejected cheques shall be cancelled in accordance with the criteria established in the first two paragraphs, to the extent that the entity has notified the payment of fines.

It is clarified that these dissemination deadlines apply even if the current account to which the rejected cheques belong has been closed.

What should I do when a current account is closed? (Point 9.2.1. of the Bank Current Account Regulation)

• Attach the list of cheques (common and deferred payment) drawn on the date of notification of the relevant closure, not yet presented for collection, stating their type, dates of issuance and, where appropriate, payment, with an indication of their corresponding amounts, inform the cancelled ones and return the unused ones.
• Keep the funds credited for the amount corresponding to the total of the common and deferred payment checks with a due date, not yet presented for collection and that retain their legal validity, which have been included in the aforementioned payroll.
• Complete all of both obligations within 5 banking days, counted from the date of notification of the closing.
• Deposit in a special account, in a timely manner to meet them on the corresponding dates indicated for payment, the amounts of the deferred payment cheques (registered or not) to be due after the date of notification of closure of the account, which have been included in the aforementioned payroll.

What should I do if I leave a legal entity in which I am authorized to use its current account? (Point 1.5.1.6 of the Bank Current Account Regulation)

You must inform the banks with which the legal entity operates.
It is the obligation of the account holder to notify the entity of any modification of its corporate contracts, bylaws, change of authorities or powers and the revocations of the latter, especially when it refers to the persons authorized to use the account.

What are the scope of Decree 312/2020, extended by Decrees 425/2020 and 544/2020 due to the Coronavirus COVID-19 in reference to rejected checks?

• Fines for rejected checks from 03/25/2020 to 12/31/2020, both dates inclusive, are SUSPENDED.
• The closure of accounts and disqualifications to operate in a current account until the same date is also suspended.

Nevertheless

• Regardless of their rejection date, rejected checks are displayed in the Debtors Central / Rejected Check Center managed by this Central Bank.
• Only checks cancelled within 15 calendar days of the date of rejection will be cancelled, when the bank communicates the cancellation, for which it has 10 calendar days.
• Any other bounced check that does not meet this condition continues to be disseminated, even if it has been canceled.

Debtors Central

What’s the Debtors’ Database?

The Central Bank of Debtors of the Financial System is a consolidated report of current and historical debts (24 months), prepared based on the data received through the Information Regime “Debtors of the financial system” that, financial institutions, non-financial companies issuing credit and/or purchase cards and other non-financial credit providers, financial trusts, mutual guarantee companies, public guarantee funds and providers of credit services between individuals through platforms, must mandatorily submit monthly to this Central Bank, detailing all the financing with the corresponding situation of each debtor in accordance with the provisions of the Rules on ” Classification of debtors“.

The query is made by tax identification code (CUIT, CUIL or CDI) and allows you to know the corporate name of the reporting entity, the amount of the debt (expressed in thousands of pesos), the rating granted by each entity, the days of delay and observations, if any.

I applied for a loan, but I am informed that I appear in the reports issued by a commercial information company. Where should I go to make the claim?

Companies that provide credit information services are not subject to supervision by the BCRA.
Inquiries about the dissemination of the data contained in the Debtors’ Center must be directed directly to those who are disseminating other types of records other than those being published by the Central Bank.
We clarify that Law 25,326 on the Protection of Personal Data establishes in its article 26 paragraph 4. that “… Personal data that are significant for assessing the economic and financial solvency of those affected during the last five years may be filed, registered or transferred. This period shall be reduced to two years when the debtor cancels or otherwise extinguishes the obligation, and this fact must be recorded…”

I wanted to apply for a loan and they informed me that I could not access it because I had an unfavorable situation in the Debtors’ Center. Is that an impediment to bestowal?

Keep in mind that the entities are responsible for evaluating the credit applications submitted to them based on the applicant’s credit history and capacity based on the credit policy parameters they have defined for this purpose.

The entity with which I operate tells me that the Central Bank disqualified me from obtaining loans. Is this so?

This Central Bank does not disqualify users from obtaining credit.
The regulations in force regarding the ratings assigned by institutions to their debtors do not imply an inhibition from a legal or regulatory point of view for their granting.

I am still in an irregular situation but I have already paid the debt (or I have just paid the entity). How long does it take to exclude me from the Central?

Keep in mind that the Central Bank disseminates your credit history for the last 24 months, so the records will continue to be reported for that period of time from the month in which the cancellation occurred.
This cancellation will be reflected when it is updated and published that month. The BCRA makes periodic updates of the information. The first update and release of each month will occur close to the end of the following month.
To prove your current situation in front of the entities, you can show the certificates that are in your possession.

How do you remove the historical background of a credit information service company?

You must go directly to the company in question.

I am told that I have a debt, how do I know which entity is informing me?

Enter your tax identification code in the option “The BCRA and you / Consultation / Debtors’ Central” on our website, entering the CUIT/CUIL, and if there is any current or historical debt, you will also be able to see the name of the reporting entity, the month and the amount of the debt.
If no debt is being disseminated, direct your query directly to those who, to date, are reporting data other than those being published by the Central Bank.

How can I get the postal address and telephone number of an entity?

You can find the data of the different entities by clicking on the following links:
Financial institutions
Former institutions
Non-financial companies that issue credit or purchase cards
Other non-financial credit providers
Financial trusts
Mutual Guarantee Companies
Public Guarantee Funds
Providers of credit services between individuals through platforms

How can I delete or rectify one or more months of my credit history?

You must go to the entity that reported the data to the Central Bank, according to the Law 25.326 on the Protection of Personal Data, Article 16, Regulatory Decree: “… In the case of public files or databases made up of the transfer of information provided by financial institutions (…) the rights of rectification, updating, deletion and confidentiality must be exercised before the assigning entity that is a party to the legal relationship to which the contested data refers. If the claim is admissible, the respective entity must request the Central Bank of the Argentine Republic (…) to make the necessary modifications to its databases. Any modification must be communicated through the same means used for the dissemination of the information…”
Entities have a procedure for deleting or rectifying information before this Central Bank to the extent that the deletion or rectification is within the framework of the BCRA’s accounting and debtor classification standards and with what is specified in the contract you have signed with the entity.

What are entities based on to classify me?

Keep in mind that the evaluation process is objective and along with the degree of compliance in terms of your obligations, your legal status, your situation reported by the other entities to the Debtors’ Center (*), your situation with former financial institutions in liquidation, as well as the refinancing of the debts you have will also be considered.
(*) The application of the mandatory recategorization was suspended from March 2020 to March 2021.

What does each situation mean in the Debtors’ Center, considering only the arrears?

1. Normal | Late payment that does not exceed 31 days. (*)
2. Low Risk | Late payment of more than 31 and up to 90 days from due date. (*)
3. Medium Risk | Late payment of more than 90 and up to 180 days. (*)
4. High Risk | Late payment of more than 180 days up to one year. (*)
5. Unrecoverable | Arrears of more than one year

(*) An increase in the periods of admitted arrears was ordered for levels 1, 2 and 3 for the commercial portfolio and for the consumer or housing portfolio, according to the following schedule:
i) From 03.20 to 03.21, in 60 days.
ii) Until 05.21, in 30 days.
iii) As of 1.6.21, the classification is made according to the general criteria of arrears.

What happens if the entity with which I operate does not grant me a debt-free visa?

Please note that the debt-free certificate is issued on request. In this case, and within 10 calendar days of the request, the entity must notify you of the last classification it has assigned to you, together with the grounds that justify it according to the evaluation carried out, the total amount of debts with the financial system and the classifications assigned that arise from the latest information available in the “Central Bank of Debtors of the Financial System”.
You can contact your bank’s financial services customer service manager to ask them how to make the debt-free request.

I was a customer of an entity in which I no longer appear as a debtor but another entity claims that debt from me, requesting the payment of the credit granted by the first entity. Is it correct that this happens?

In the financial system, the assignment of credit portfolios is normal. Corroborate the information with the entity where your debt originated and, subsequently, resolve your situation with the entity that is currently disseminating it.

Credits

I went to apply for a loan and they tell me that I am in debt

Companies that provide credit information services are not subject to supervision by the BCRA.
Therefore, queries related to the dissemination of the data contained in the Debtors’ Central Office should be directed directly to those who are currently disseminating other types of records other than those being published by the Central Bank.
In this regard, we clarify that Law 25,326 on the Protection of Personal Data authorizes in its article 26 paragraph 4 to “… Archive, register or transfer personal data that are significant for assessing the economic and financial solvency of those affected during the last five years. This period shall be reduced to two years when the debtor cancels or otherwise extinguishes the obligation, and such fact must be recorded…”

What should I take into account when I decide to apply for a loan?

When applying for a loan, regardless of its type (mortgage, pledge, personal, etc.), you must identify which entities grant them and among them determine those that are of interest.
Once this selection has been made, it is advisable to gather all the available information on the costs that will have to be faced once granted. For a first approximation on the matter, the information that entities must publish on their websites for products in general may be useful.

Is there a maximum age limit for getting a loan?

The Central Bank does not set any maximum age limit to access a loan. The conditions of granting are established by the banks themselves.

What items make up the cost of a loan?

It should be taken into account that the interest rate is only one of the components that make up the cost of a loan. For this reason, for the correct comparison of costs, the Total Financial Cost (TFC) must be used. For the calculation of the CFT, the interest rate, commissions and charges in force at the time of contracting shall be taken into account, expressly indicating whether these concepts may be modified in accordance with the parameters and criteria pre-established in the contract.”
In all documentation related to the contracting of loans, the Total Financial Cost (CFT) must be identified with a font 5 times greater than that used for the rest of the information. In this way, when signing, the customer will be able to easily see what the CFT of the credit is.
Keep in mind that if the borrower is a final consumer, they must pay VAT on the interest paid each month, which will impact the payment. Obtaining a loan, on many occasions, also involves the use of other products such as a savings account or checking account, for which the amount of commissions that are added to the total cost of the credit must be paid.
Many financial institutions offer advantages for their customers with the opening of the “salary account”. These benefits can be compared between different entities.

What kind of interest rates are there?

You can choose between an interest rate that remains stable throughout the loan (fixed rate) or one that varies periodically (variable rate). In the latter case, the customer has to know what the parameter will be for their adjustment.

What fees or commissions can the bank not charge me?

In the case of users of financial services, commissions or charges may not be applied for appraisal, notary or notary expenses that arise on the occasion of the granting or cancellation of financing (such as the constitution of a pledge or mortgage).
If the loan includes taking out insurance, it should be borne in mind that, according to the law, the customer has the right to choose between three different insurers. If the loan contemplates the possibility of an early, partial or total cancellation, it is convenient to know what its cost is. In the case of total pre-cancellation, the application of commissions will not be admitted when at the time of making it at least a quarter of the original term of the financing or 180 calendar days have elapsed since its granting, whichever is greater.

What should I take into account when signing the loan contract?

The signing of a contract referring to a banking product or service entails the acceptance of the obligations and rights specified therein. Therefore, before signing, you must read and understand the content of all the obligations and rights that arise from it, as well as the documents that the bank requests. Always try to get a copy of it.

Can the bank charge me for early cancellation of a loan?

Yes, in the case that it is partial. If it is a total cancellation, the application of commissions will not be admitted when at the time of making it at least a quarter of the original term of the financing or 180 calendar days have elapsed since its granting, of both the greater.

Can the bank of which I am a customer process the reduction of the gross income rate (IIBB) of the loan I am already paying?

The Central Bank of the Argentine Republic does not regulate this aspect related to tax issues. To find out if your bank provides this reduction, you can consult the person in charge of customer service.

Current account

Who can be the holder of a bank checking account?

Natural persons, legal persons and temporary joint ventures (UTEs).

Can a bank deny me the opening of a current account?

The opening of the current account will be subject to compliance with the BCRA rules and the additional requirements that the bank establishes by commercial decision.

Can a bank establish additional requirements to those set by the Central Bank for the opening of a bank current account?

Yes, since the provisions contained in the “Bank Current Account Regulations” are of a minimum nature, leaving it to the exclusive discretion of the bank to adopt particular requirements, mechanisms or procedures that it deems appropriate to ensure the proper functioning of the regime in question. In addition, the bank must provide the customer with a certificate with information about the commissions and expenses of services related to the operation of the account.

Can the bank decide to close my current account?

Yes. Grounds for the closure of a bank checking account are: Those established contractually; the inclusion of some of its members in the “Central of Disqualified Account Holders”; the failure to pay the legally established fines and other legal causes or disposition of the competent authority.

What reasons can cause the disabling of a current account?

1- Failure to pay the fines within 30 calendar days from the time the bank notified you of the rejection.
2- Disqualification sanctions imposed by the Justice or for other legal reasons notified to the financial system.

What is the procedure for closing a bank checking account?

The account holder must go to the bank and request that they be closed in writing with the list of the cheques drawn and not yet presented for collection with an indication of their corresponding amounts, inform the cancelled ones, and return to the bank all the unused cheques that he keeps, giving the bank a receipt in which the numbering of such formulas will be recorded.
In addition, it must keep the funds credited for the amount corresponding to the total of the common and deferred payment checks, not yet presented for collection.
In the case of an account holder who is a user of financial services, he or she must be offered the use of electronic mechanisms to carry out the closing. This, to the extent that they are current accounts that do NOT have the use of checks.

What are transitory advances in bank current accounts? (Overdraft)

These are those credits with no term or limits determined in advance, or fixed “internally”, which are only used occasionally and whose cancellation is made in short periods, never exceeding 30 calendar days.

Can the bank cancel or reduce the amount previously agreed to make overdrafts in a bank checking account?

Yes, to the extent that the respective contract has expressly provided for the possibility that at any time the bank may cancel – in whole or in part – by its own decision the agreement.

Can the bank pay interest on checking accounts?

Yes. As of January 2017, the prohibition that entities had to pay interest on funds in current accounts was repealed.

If my account is already closed, where can I pay the penalty for bounced checks?

After 30 calendar days of account closure, you can:

• Make a deposit in the financial institution that generated the fine, with express proof of the data that identifies the check
• Judicial deposit of the amount of the fine. It is carried out before a court and with the control of a judge, the payment of the debt is settled. The money is available in a judicial account waiting for creditors to present themselves for collection.

What is the limit for cashing checks over the counter?

You can cash checks with amounts less than $50,000 over the counter, except that:

• It is a check corresponding to the same account.
• Correspond to the payment of salaries and other remuneration for amounts that comprise the payroll as a whole. For example: family allowances.
• Be a canceling check.
• The values in favor of the beneficiaries included in Law 24,557, on occupational risks. The employer makes a certification, which will be filed with the entity.

What is a check and how do I use it?

A check is a payment order drawn on a bank that allows the person who receives it to collect a certain amount of money that is stipulated in the document and that must be available in the bank account of the person issuing it.
The check is used as a means of payment, it replaces cash, allowing a person to withdraw money from an account, without the need to be the holder of the account.

What are the different types of checks and what is each one used for?

There are three types of checks: 1) Common, 2) Deferred payment, 3) Cancel.
Common checks are payable from the day of their issuance and have thirty days to be presented. Deferred checks are those issued on a date, but to be presented for collection at a later date. In this case there is also a maximum period of thirty days for its presentation, but from the maturity date set by the person who issued the check.
The cancelling cheque is a means for the cancellation of obligations to give sums of money. Unlike other types of checks, cancelling checks are issued by the BCRA (which delivers them to banks on consignment as entities register orders from the public). They are valid for 30 calendar days from the date that appears on the document, and can have up to two endorsements. They can be issued in pesos or dollars, but the latter can only be used for real estate operations.

How to write a check correctly?

• Do not leave spaces in front of the amounts in number or letters
• Do not leave wide spaces between written words or names
• Write the amount in letters and at the end of your writing draw a line invalidating the line, to avoid fraud
• It is preferable to integrate the spaces to be filled by the holder with pens/pens
• When the check is crossed for deposit, it must always be done in the main body, not on the commercial strip and passing over a form
• Register, in the bank, all the signature models used to sign the cheques
• Remember to modify your signature record if you make changes to it
• Make sure you have your account’s available balance by the debit date of the check issued
• Find out about the overdraft fees and fees. Keep your overdraft agreement current and up-to-date as needed.

What are the different reasons for check declines?

They may be rejected for:

• Insufficient Funds
• Formal defects
• Reasons that prevent payment unknown at the time of issuance
• Bounce checks result in penalties for the account holder against whom the payment orders were issued

Universal Free Account

In which banks can I open a Universal Free Account?

In any bank, everyone is obliged to open this type of account. If a bank refuses to open it, you can formalize the corresponding claim.

Who can be a Universal Free Account holder?

All individuals who are not holders of another type of account in the financial system.

What documentation do I need to submit to open a Universal Free Account?

Only DNI.

What are the requirements for opening and maintaining a Universal Free Account?

To open you must submit, in addition to your ID card, a Sworn Statement in which you notify that you do not have another account in any bank and you agree to report any change in this regard.

In what currency can I set up a Universal Free Account?

Only in pesos.

What types of trades are supported in a Universal Free Account?

Accreditations are admitted for all concepts, but there is a limit (established by the UIF)

What are the main features or benefits of the Universal Free Account?

The biggest benefit is that they are completely free:

• Account opening and maintenance.
• A debit card.
• Inquiries of balances, movements and up to eight withdrawals of money per month, at ATMs of different banks and networks in the country.

Salary account and/or social security account

Can the worker choose the bank in which his salary will be deposited?

Yes, you can. Workers will be able to open these accounts in the bank of their choice and communicate this to their employer

Can a minor be the holder of a Social Security Account?

Yes, but it must be at the order of your attorney.

If I receive a pension and a retirement, do I have to have two separate accounts?

No, in the event that you receive more than one credit in the same bank, a single account will be opened where all the profits will be deposited.

What documentation must the worker present for the opening of the Salary Account?

You must submit your personal data, work certificate, salary receipt or information from the AFIP that allows you to prove the employment relationship.

How should the worker who already had a Salary Account in one bank and wish to open a new Salary Account in another bank proceed?

First he must close the previous salary account and then open a new salary account in the bank chosen by him. It will be the worker’s responsibility to notify their employer.

How should those people who received their salary in a common Savings Bank and want to transform it into a Salary Account proceed?

When workers have opened a Savings Bank in pesos, they may request its transformation into a Salary Account. It will be the worker’s responsibility to notify their employer.

Can the entire balance of the salary account be withdrawn through an ATM?

Yes, it is possible. In order to allow the total withdrawal of the balance from the account in this way, the paying financial institutions may provide, at no cost to the beneficiary, for the rounding up of the amount to be paid, advancing the funds by up to $ 99.99 in accordance with the availability of cash at the ATMs, deducting the amount effectively advanced from the next credit. However, the daily withdrawal limit agreed with the entity must be taken into account.

How do I proceed and when does the Salary Account close once the employment relationship is terminated?

The closure of the accounts must be communicated by the employer or by the employee when the opening has been processed by the employer. In the event that such opening has been requested by the worker, the closure must be communicated exclusively by the latter. In both cases, the worker may use electronic communication mechanisms.
It will be effective after 60 calendar days have elapsed, counted from the date of the last credit of funds or the communication, whichever is later.
Notwithstanding the foregoing, when the depositary financial institution receives from the corresponding social security benefit payment entity accreditations for the latter concept for these accounts, their closure will operate in accordance with the procedure established by the aforementioned entity or, failing that, when these accreditations have not been registered during the period of 730 calendar days.
In the case of the payment of social security salaries or benefits that make up the Argentine Integrated Pension System (SIPA) and/or provincial jurisdictions and/or the Autonomous City of Buenos Aires and non-contributory pensions, the closure of accounts will operate in accordance with the procedure that the respective payment administration entity agrees with the depository financial institutions.

What happens to the remaining balances in the Salary Account?

If the account has an outstanding balance, it can be transferred or withdrawn, otherwise, the bank will leave it at your disposal in a non-operational account.

Are any fees or commissions charged to the Salary Accounts and/or Social Security Accounts?

Banks may not charge charges or commissions for account opening, maintenance, movement of funds, checking balances and withdrawals through all ATMs enabled in the country by any bank, without limits on the amount (except those expressly agreed upon for security reasons and/or resulting from operational restrictions on the equipment) or on the number of withdrawals, nor any distinction between customers and non-customers, up to the amount of the accreditations derived from the employment relationship or from the provision of social security.

What kind of deposits are allowed in the Salary Accounts and/or Social Security Accounts?

Normal and customary remuneration and other concepts derived from the employment relationship, such as family allowances, social security benefits and monetary disability benefits derived from Law 24,557 (Occupational Hazards Law).
The accreditation of amounts corresponding to tax, promotional, commercial refunds or from health benefits and loans will also be admitted.

Can a proxy or legal representative formalise the procedure for opening the Social Security account without the need for the beneficiary to attend in person?

Yes, it is indifferent whether the beneficiary, attorney-in-fact or legal representative carries out this procedure

How is the Social Security Account opened when a beneficiary already has a proxy appointed?

The account must be opened in the name of the beneficiary and at the order of the beneficiary and the representative designated for the collection of salaries -before the ANSES-, indistinctly.

Can the bank charge me fees for transferring my social benefit to the account I choose?

No, the debit and transfers of benefits to the accounts indicated by the beneficiaries should not involve any charge.

Can I be charged fees for additional social security account services?

Yes, they can.

Does the social security account admit deposits other than those established by the regulation?

Yes, but these deposits must have been previously agreed between the beneficiary and the bank.

What is the procedure for closing a social security account?

The closure of accounts shall operate in accordance with the procedure that the respective payment administration entity agrees with the banks.

Who determines the modality of presentation of the certificate of survival for social security accounts?

The survival control will be carried out in accordance with the procedure and deadlines established by the payment administration entity.

Bank accounts

What possibilities does being a bank account holder offer us?

It gives us access to means of payment other than coins and banknotes. This allows for better use of time and a reduction in the security risks involved in cash handling.

What means of payment can be used and accepted?

The most commonly used means of payment are:

• Account Opening and Maintenance
• Over the counter in person at your bank
• Atms
• Homebanking
• APP of your bank
• Automatic debit
• Debit Card
• Credit Card
• Checks
• Transfers
• E-wallet
• POS-mobile
• Payment button
• DEBIN
• Effective

How do I close my account?

You can close your accounts both at any branch – not necessarily at the branch where the account is filed – and through electronic communication mechanisms that allow you to close your account in a single act (email, telephone, home banking, ATM).

Does the bank have to give advance notice of the closure of the account?

Yes, by mail and within a period of no less than 30 calendar days before closing the account.

Can the bank close my account by its own decision?

Yes, the bank can proceed to close the savings account if it has not registered movements or balance for 730 calendar days. Before closing it, it must notify you within a period of no less than 30 calendar days so that you can choose whether or not to keep your savings account.

Does the bank have to send me a summary of my savings account?

Yes. They must send it to you at least every 4 months by the agreed means. Keep in mind that you can also watch it through: a) email; b) telephony; c) Internet banking “home banking”; d) ATMs and e) self-service terminals.
If your bank decides to start sending the statements electronically, you can decide to continue receiving it by mail, but keep in mind that the bank may charge you fees and/or commissions for issuing and sending the statement.

What happens if I find discrepancies with the movements reported in the account summary?

The customer must file the claim with the bank within 60 calendar days.

Is there a cost to issue and send the account summary?

The submission of information by electronic means is free of charge. In the event that a postal piece is used, the bank may charge charges and/or commissions for the issuance and sending of the summary.

Is it mandatory for banks to send the account statement only through electronic means?

Banks will be able to use electronic mechanisms to send account and credit card statements. In case they decide to change the mode of communication, and move from the postal piece to electronic means of information, they must notify the customer 60 days in advance, with the same means of communication they have been using. In case the customer does not accept, the bank cannot refuse.

Can the bank refuse to open a savings bank through electronic means?

The BCRA regulations do not require the mandatory use of certain channels for the linking and provision of services, since the admission of procedures for the opening of savings banks in a non-face-to-face manner by individuals who are not customers is optional for banks.

Is it necessary to present a salary receipt to open a savings bank in a non-face-to-face manner?

To open the Savings Bank, the ID card is sufficient to prove the address, name and surname, place and date of birth. But keep in mind that the bank may ask you for additional requirements.

Do I have to go to the branch to sign the contract after having opened the savings bank through electronic means?

Regardless of the modality used, the user will be provided with a copy of the contract with the authorized signature of the bank, within ten (10) business days of the contract.
The rules on “Information to customers by electronic means for the care of the environment” provide that they must send the customer to the email address or incorporate the digitized images into “home banking”. This is without prejudice to the supply or making available, as the case may be, of a copy of the contract.

What is the “CBU Alias” and how is it used?

It consists of establishing a name associated with a bank account that works as an alternative to the CBU number to make transfers. The “CBU Alias” must be between 6 and 20 alphanumeric characters long. The advantage is that you don’t have to report the 22 digits of the CBU to third parties who need to transfer money. An Alias can be assigned to each of your bank accounts. For more information click here.
All bank accounts have an alias assigned by default that the user can change, if they wish and when they have it, through the electronic channels of the bank where they have the account (Com. A6215). The default alias format is a random combination of three short, frequently used words in Spanish and can be consulted in your home banking.

What new means of payment are being developed and implemented?

The new means of payment are the “Virtual Wallet” (immediate electronic payment), “Mobile POS (direct and instant transfer), or the “Payment Button” (allows you to pay for e-commerce purchases through a transfer).
The distribution of security devices to validate transactions (dongles) has already begun. These devices connect to a cell phone and function as a mobile POS: debit cards can be moved around the device to activate immediate electronic transfers from the payer to the collector. These transfers, like those made via home banking or self-service terminal, have no cost for the payer or withholdings on account of national taxes for the recipient of the funds.
In addition, they are immediately credited to the receiver’s account.
Finally, the price of the service for recipients who are companies must be agreed with the entities that offer it. The closest thing that exists to immediate debit is the electronic transfer that can be made from any entity through its home banking. The main difference between the two is that for the DEBIN who must carry out the procedure is the one who collects the money and not the one who pays it. The latter will accept or reject the operation only. It also differs from automatic debit in that this service is offered by each bank or network, and this system will be independent. In addition, payment will be credited at the time and not in 48 hours.
For more information, visit the Electronic Payment Methods section

Do I have limits on over-the-counter transactions?

No, you can make transactions over the counter with no limits on the type of operation or minimum amount.

What operations are free of charge?

No fees or charges may be applied for the following items:

• Insurance contracting and/or administration
• Generating account statements and submitting virtual account statements (these services must be included in the account maintenance fee)
• Evaluation, granting and/or administration of financing
• Appraisal, notary or notary expenses that arise on the occasion of the granting or cancellation of financing – such as the constitution of a pledge or mortgage

What deposits are guaranteed by the Guarantee Insurance?

Deposits in pesos and in foreign currency constituted in the participating entities in the form of:

• Current account
• Demand account opened in the Cooperative Credit Banks
• Savings bank
• Fixed term
• Salary/Social Security Account, and Specials
• Term investments
• Fixed balances arising from the preceding items

The coverage is $1,000,000 (for all concepts).

How can I identify purchases made through “Mobile Payments” in my transactions?

In your account statement, the information must be detailed as follows:

• The description “PEI Payment” or “PEI Purchase”, followed by the name of the account holder to be credited or the Fantasy Name.
• For returns, the description “PEI Return” must be included followed by the name of the account holder to be credited or the Fantasy Name.

Why might the bank have blocked my card?

It may be that the bank has blocked your card and/or disabled access to your home banking for security reasons (e.g.: suspicion of fraud, forgotten password, etc.). In any case, they must inform you by email or telephone on the same day, explaining the reasons for the blocking.
To re-enable your card, you can do so electronically and at any branch.

How long does it take for the bank to refund an incorrectly charged amount?

Any amount wrongly collected or owed by your bank must be refunded to you within:

• ten (10) business days following the time of filing the claim with your bank.
• five (5) business days following the time such circumstance is verified by the bank or by the controls carried out by the BCRA.

This includes returns for the following cases:

• Interest rates, commissions and/or charges.
• Excess charges for third-party services.
• Commissions in excess of the maximums set by the BCRA
• In default at the level of the maximum interest rate applicable to financing linked to credit cards.
• Excess of what was agreed between the user and the bank
• Compensatory interest on debit balances generated in deposit accounts other than the bank current account
• Amounts due for promotions, discounts, or other benefits.

Where can I see my account/card statements?

You can see through “home banking” or other similar means of electronic communication, the last account and/or credit card statement, as well as the accumulated of the last twelve (12) months.

If my bank asks me for additional information, how do I have to submit it?

You can update the information requested by your bank through electronic mechanisms. In case your bank does not have this option, you can also present this information at any branch of your choice – not necessarily at the branch where the account or file is filed.
The update of the information will simultaneously cover all the products and services contracted by you (such as deposit and client accounts, credit cards, insurance).

What should I do if unauthorized charges appear on my account?

If you detect an account debit that has not been agreed or agreed, you can request its reversal and make a claim to the company that originated the debit.
If the company does not respond to your complaint, you will be able to submit it to the National Directorate of Consumer Defense , which will refer it to the corresponding local body for treatment.
Remember that you can request the definitive cancellation of the debit indistinctly before the financial institution or the company receiving the funds.

What facilities do I have to process the cancellation of accounts?

Each entity must provide you with the corresponding procedure for your account
cancellation request You can request it in person or through the electronic means enabled by the entity for this purpose.
Remember that from the date of submission of your application, the obligated entities will not be able to accrue any type of commission and/or charge, being possible only to charge commissions and/or charges accrued prior to the date of your request.

Home banking

What is Home Banking?

Home banking, online banking or e-banking, is banking services that can be accessed through the internet through computers, tablets or cell phones. To be able to operate through this modality, it is necessary to be the holder of a bank account.

What are the services I can access through Home Banking?

Through e-banking it is possible to: a) Transfer money to your own or third-party accounts; b) View your account statement and check your balance, c) Pay taxes and services; d) Take a loan; (e) Make investments; (f) To place orders for checkbooks and deposit slips; g) Consult the CBU of your account; (h) To give travel notice; i) Check credit card balances; j) In general, interact with the entity to carry out operations and manage the services it provides.

What do I need to start trading through Home Banking?

To be able to operate through this modality, it is necessary to be the holder of a bank account. The bank grants a password in person or through the use of the ATM. The password provided only allows you to enter the system, create a username and a new password that only you should know.

What hours can I trade?

It can be operated 24 hours a day, 365 days a year. Keep in mind that some operations may have a time restriction.

What is the date on which the transactions I carry out in Home Banking are registered?

All transactions are recorded on the date they are made, except for those that are carried out outside banking hours and/or on non-business days. These will be registered on the immediately following business day.

What should I do if I forgot my password, “Username” or if I want to change it to access Home Banking?

In these cases, you must go to an ATM and manage them again.

Can I close and open an account through Home Banking?

Banks are enabled to facilitate the completion of account opening and closing procedures using this channel. In the event that the account is closed and an outstanding balance remains, it can be transferred, withdrawn or the bank will make it available in a non-operational account.

How to operate safely through Home Banking?

Passwords must be strong and must be changed periodically. Keep in mind that they are difficult to guess and easy to remember. That key should not be your personal address, date of birth, or other number that can be easily obtained from documents kept in the same place as the card.
Banks do not send emails, nor do they make phone calls to request change or confirmation of personal data (account number, username, password or coordinate card data).
These are often practices used to obtain data that enable identity theft. To be sure that you are connecting to the correct site on the Home Banking login page, do not log in to the bank through addresses or links received via email or pop-ups.
For some operations, the riskiest, the so-called “double authentication” factors are used, such as coordinate cards or tokens. These combine something I know (username/password), with something I have (coordinate card or tokens). In general, these elements are requested from the entity and are activated through ATMs.

How can I control payments made by automatic debit?

Consulting the latest transactions and/or account summary.

Product bundles

What do I need to consider when I am offered a Product Bundle?

You can assess what your needs are to avoid paying for services you won’t use. You have the freedom to choose the products that effectively interest you.
Please note that in multi-product contracts (bundles), each product must be able to be divided into individual and independent contracts, so that you can only adhere to it/the products you are interested in.

What elements do I need to consider regarding the costs of Product Packages?

If ATM withdrawals are charged from other entities or other networks, check the availability of the entity’s own ATMs in its area of influence (near work, home, etc.).
Consider the financing limits included in the different financial instruments: credit cards, current account advances and pre-agreed loans. An important issue to take into account is the differences in interest rates, both to be received and to be paid. To analyse the tax burdens and refunds inherent in the use of the financial products it includes. For example: tax on checks, gross receipts or partial VAT refund for debit card purchases.
Take into account the risks of non-compliance in the conditions stipulated in each of the instruments. For example: the delay in the payment of the credit card generates punitive interest. Another example: if the package includes advances in the current account, they have a cost in terms of interest.

Can the Bank force me to take out a package of products?

You have the freedom to choose the products that really interest you.

Can I cancel a product that is included in a package?

Yes, but keep in mind that the cancellation of a product or service that is part of a multi-product contract may imply, when the bank so decides, the loss of profits and/or the cancellation of the other associated products or services, except for savings banks in pesos, since they cannot be part of the multi-product packages.

What happens if I regret having contracted a product or service?

You have the right to cancel the acceptance of the product or service within ten (10) business days from the date of receipt of the contract or the effective availability of the product or service, whichever is later, notifying in a reliable manner or by the same means in which you contracted the service or product.
This will be at no cost or liability to you as long as you have not made use of the product or service.
In the event that you have used it, you will only be charged the commissions and charges provided, proportional to the time of use of the service or product.

Time deposits

Can I make a fixed term in a bank where I am not a customer?

Yes, you can make fixed terms through the website or mobile banking of any bank, which will be debited from the peso account you have opened in your bank.
The procedure is as follows:

• Go to the website or mobile banking of the bank where you are interested in applying for a fixed term.
• Enter your CUIT/CUIL and your CBU or alias of the account to which the funds will be debited.
• You indicate the type, term and capital of the tax and your email address.
• In a visible place in your home banking and/or mobile banking, you will see an option called “To constitute a term placement” where you can authorize or reject the constitution of the fixed term that you requested in the other bank.
• Once constituted, the bank where you made the fixed term must send you all the details of the transaction by email.
• On the day of maturity (at the time of the opening of banking hours), the bank where you made the fixed term must transfer the amount of the tax and its remuneration to your account. Accreditation must be immediate.

Keep in mind that banks will not be able to charge you commissions or charges for the use of this fixed-term modality, nor establish limits on amounts.

Why is it convenient to set up a Fixed Term?

Keeping money at home does not generate any income. The Fixed Term offers a known return (the interest rate), it is simple and it is safe. and contributes to the financing of bank customers.

What should I take into account before setting up a Fixed Term?

Check the interest rate in different entities to choose the best one.
Check the fixed-term rate by Home Banking or investment banking. Electronic media usually offer better interest rates.
Check if the renewal is automatic or not at maturity.

In what currency can a Fixed Term be constituted?

Fixed-term transactions can be made in pesos, dollars and other currencies. The rates of one and the other are usually different.

Can a Fixed Term be cancelled early?

For traditional fixed terms, the money must be deposited until the end of the term for which it was constituted. In the fixed-term modality with early cancellation, the money can be withdrawn after a minimum established period (generally 30 days), but if the option is used, the interest rate paid will be lower than what would be paid if it were withdrawn at maturity.

Are Fixed-Term Deposits guaranteed?

They are guaranteed for the entities that participate in the Deposit Guarantee Insurance, up to a certain amount (currently $1,000,000,-), per certificate regardless of the number of holders.
Demand deposits where interest rates higher than the reference rates are agreed and time deposits and investments that exceed 1.3 times that rate, or the reference rate plus 5 percentage points (whichever is higher), are excluded.
The reference rates are periodically disseminated by the Central Bank of the Argentine Republic through Communications “B”. They will also be excluded when these interest rate limits are distorted by incentives or additional remuneration.

What does it mean that Fixed Term is compensable?

It means that I can present it to another entity to deposit it in another account or constitute a new fixed term.
Fixed terms in pesos are compensable. Fixed terms that have a specific modality (e.g. pre-cancelable, adjustable with a CER clause, UVas, etc.) or those that have been made electronically (by ATM, Home Banking, telephone, etc.) are not compensable, since it is necessary to have the physical document to present it at another entity.

What should be done in case of loss or theft of a fixed-term certificate of deposit?

In this case, the holder of the certificate must notify the issuing bank of the fact and make the corresponding judicial complaint indicating the essential requirements of the title.

Can the payment of the interest on the fixed term be agreed in advance?

The payment of interest on fixed terms of less than 180 days can only be made in arrears. In the case of time deposits equal to or greater than 180 days, the payment of interest accrued before the maturity of the fixed term is admitted, in arrears and with a periodicity of no less than 30 days.

What are the minimum terms for fixed-term deposits?

Fixed Term with fixed interest rate: 30 days
Fixed Term with variable interest rate: 120 days/ 180 days depending on its type.
Fixed Term with Incentives or Remuneration: 180 days.
UVIS Fixed Term: 180 days.
UVA Fixed Term: 90 days.

What happens if a fixed-term deposit is not withdrawn or renewed at maturity?

They are transferred to “immobilized balances”. Holders may withdraw the sum of the principal and interest accrued up to the maturity date of the deposit, net of the fees applied for the maintenance of the funds in “frozen balances”.

Can the automatic renewal of fixed terms be agreed?

Yes, and it can include, in addition to the principal, the interest accrued. If it is not included, the interest must be credited, at the end of each period, to the account indicated by the customer.

What is the procedure for the transfer of fixed terms?

Transferable fixed terms are transferable by means of endorsement. Non-transferable nominative certificates require the transfer to be formalised by means of an assignment of credit.

What are fixed terms in UVIs / UVAs?

They are inflation-protected savings instruments (UVAs), or similar to savings “in bricks” (UVIs). They have the simplicity of a fixed term to be made. The minimum term is 90 days (UVAs) and 180 days (UVIs). The amount deposited in UVAs – is updated by the Reference Stabilization Coefficient (“CER”) – which follows the country’s inflation, while the UVIs by an index of the cost of construction for Greater Buenos Aires (“ICC”) both published by INDEC.

Identity theft

What steps to take to prevent identity theft?

Do not carry unnecessary identity documents. Do not provide personal data to strangers by email, telephone, letter or social networks. Destroy documentation (both physical and digital) containing personal information that is no longer needed. Use security systems and secure passwords on the computer and do not share them. Do not allow public computers to remember passwords or usernames because they can be used by third parties. Store electronic equipment such as notebooks, tablets, cell phones, and any other means of storing information in safe places. Data stored on these devices can be stolen. In the event of theft or loss of identity documentation, always file a police report.

How do I realize that I was a victim of identity theft?

Reviewing the movements of my accounts and observing if I detect irregular movements.

What do I do if transactions were carried out by usurping my identity?

(Source: National Directorate for the Protection of Personal Data)
You must immediately inform the entity.
In all cases, in addition to carrying out the corresponding ignorance of the operations carried out, you must make a criminal complaint either to the police or to the corresponding prosecutor’s office.
Likewise, if you have been a victim of DNI theft, it is suggested to register your new document in the National Registry of Questioned Documents. To do this, a copy of the criminal complaint and the new copy of the ID card must be attached. Such registration has the effect of notifying which is the current version of your Document and consequently invalidating any other version of it.
In all cases, whether or not there has been a theft of the DNI, you must register the updated version of the document with the credit information companies.

Debit and credit cards

What is a debit card and how do I use it?

A debit card is a financial instrument related to a bank account, which allows you to operate with the bank through ATMs (check balances, make deposits or cash withdrawals, pay for services, and send transfers, among other operations) or make payments in different businesses.
The main feature is that the amounts used are automatically deducted from the holder’s account, so the necessary funds must be available for its use.

What is a credit card and how do I use it?

A credit card is a payment instrument that must be managed at a financial institution or a credit card issuing company and will be granted to the applicant if they meet the requirements.
The entity will provide you with an amount of credit for which you can operate and will be related to the applicant’s income. Unlike the debit card, the funds to be used must not be previously deposited, but as it is used to withdraw cash or make payments, a debt will automatically be generated. Generally, this debt must be paid monthly, for which the entity sends a summary with all the transactions made, the due date and the amount owed.
This amount can be paid in whole or in part and the outstanding debt will accrue interest. An advantage that credit cards provide is the possibility of paying for purchases in installments (installments).

What guidelines should be analyzed when managing and using a credit card?

Through financial institutions, which are the usual distribution channel for banknotes and coins.
To choose a credit card, take into account:

• The compensatory interest rate charged by the issuers, the charges associated with its use and whether the card to be issued will be for national or international use (i.e., if it can be used in another country).
• Costs related to the use of the product include life insurance on the balances financed, administrative expenses, card renewal expenses and commissions charged for cash withdrawals, in addition to VAT on compensatory interest.
• As it is a credit product, there is a purchase limit (which can vary temporarily by requesting it), a cash withdrawal limit and a limit on financing in installments. These limits depend on each bank’s credit policy and the customer’s credit rating.
• Other aspects to consider are: the compensatory interest rate for financing your purchases, the punitive interest rate for not making the minimum payment indicated in the monthly summary, the amount of that minimum payment and the commissions charged for exceeding the purchase limit (determined according to the level of income). In addition, it is important to know the requirements for contracting the card (income level, maximum age)
• It is advisable to analyze the need to have several credit cards since they generate fixed expenses
• When buying with the card, it is recommended to take into account the ability to pay in successive installments
• Know the promotions offered by the cards, the categories or products that are usually included in them, to know if they adapt to the consumption profile and are the most convenient.
• At the time of making a purchase, the transaction must be made where it can be seen, to avoid any use with which we do not agree. It is also advisable to keep the purchase receipts to compare them with the account statement.
• To keep the personal identification code secure, it is advisable to memorize it. Having it saved in writing can be dangerous for the security of the account. Also, choose a key that is difficult to guess.
• It is not advisable to pay only the minimum payment on the balance of the card. The accumulation of balance generates higher interest in the future.

Is there a cost to replace the debit card?

Banks may not charge fees or commissions for debit card replacements that are made due to degaussing and deterioration (in the latter case up to one per year).

What are the main differences between debit and credit cards?

Debit Card: The debit card is linked to a bank account. One of its main characteristics is that, at the time of payment, the amount is automatically debited from the related account.
Credit card: Unlike a debit card, the funds to be used at the time of making a purchase do not have to be pre-deposited. This amount can be paid in whole or in part and the outstanding debt accrues interest. To do this, the entity sends a summary with all the transactions made, the due date and the amount owed. They offer the possibility of paying in installments (in installments).

Can I cancel the automatic renewal of the credit card?

Yes. If the automatic renewal has been agreed, the user may cancel it by communicating their decision by reliable means 30 days in advance.

How far in advance should the bank notify me about the cost of renewing my credit card?

The bank has to notify you of the renewal date on the 3 statements prior to the expiration of your credit card contract.

A bank sent a credit card to my home that I did not request. What do I do with the plastic?

The contract between the issuer and the cardholder is perfected by signing, issuing the respective cards and receiving them by their cardholder. Until the respective contract is signed, the plastic issued in the name of the customer cannot be considered a credit card.

What should I do if my credit card statement does not arrive before the expiration?

In case you do not receive your statement, you can find out the balance of your card and the minimum payment by phone 24 hours a day, you can also request it at your branch, check it through home banking, the website of your card administrator (Visa, Mastercard, etc.)

Are there maximum interest rates for credit cards?

Yes. For compensatory interest, the rate may not exceed by more than 25% the interest rates that the bank has applied, during the immediately preceding month, in personal loan operations without real guarantees. For punitive interest, the punitive interest rate may not exceed by more than 50% the compensatory interest rate that the bank applies for the financing of credit card balances.

At what point in the contractual relationship can the credit card be cancelled?

According to Article 11 of the Credit Card Law, the contractual relationship ends when: a) The receipt of renewed Credit Cards by the holder does not take place. b) The owner communicates his will at any time by reliable means.

Can the bank require me to cancel my debt in order to cancel my credit card?

No. If you have debts, the bank will not be able to require you to cancel them as a necessary condition for the cancellation of your Credit Card.
When the cancellation is of a credit card for which the balance of the last statement has not been paid in full, it will only be required that the cancellation procedure can be carried out in person at any branch.

Can the bank require me to cancel my credit card at the branch?

If you paid your last credit card statement in full, you can process the cancellation remotely.
If you did not pay the last summary in full, it will only be required that the cancellation procedure can be carried out in person at any branch.

I have purchases made in installments, can the bank require me to pay for the overdue payments to cancel the credit card?

You can process the cancellation of your credit card, even if you have consumption in installments that are due. You will continue to pay these consumptions monthly as agreed with your bank, but they will not be able to continue charging you the maintenance cost.

Can the bank charge me fees for the outstanding balance on my credit card after canceling it?

From the date you requested the cancellation, you will not be charged any type of commission and/or charge related to your credit card.

What is the maximum interest rate I can be charged for financing the balance of my credit card, which was not issued by a bank?

The maximum interest rate for financing credit card balances cannot exceed 25% of the one published monthly by this Central Bank of the Argentine Republic, for open market personal loan operations, which you can find by clicking here.

If I have credit card charges in US dollars, which exchange rate is applied when I pay them?

You can pay for your credit card purchases in dollars in that currency or in pesos, and the maximum selling exchange rate (for transactions over the counter or through electronic means) at the time of cancellation – or the immediately preceding business day when the payment is made on a non-business day – may be applied.
In case your card is from a credit card issuing company and not from a bank, consumption in dollars may be paid in that currency or in pesos, applying the exchange rate sold through electronic channels published by the Banco de la Nación Argentina on the same business day of the payment date. or the immediately preceding business day when the payment is made on a non-business day.

If I have consumption in dollars on my credit card, what rate is applied when paying them, in case I have automatic debit?

If you have agreed on the automatic debit on your credit card, the seller exchange rate will be applied for transactions carried out through electronic means of payment at the close of the same business day of payment.

How many credit card statements should the bank make available to me?

You will have at your disposal, through “home banking” or other similar means of electronic communication, the latest statement of your credit card, as well as the accumulated of the last twelve (12) months.

Can I pay my credit card statement on my own if I have an automatic debit arrangement?

Yes, when you have previously made the payment through another channel (ATM, self-service terminal, counter, etc.) your bank must take a record of it to prevent you from making duplicate payments.

I have agreed to automatically debit my credit card, but I don’t have enough money in my account, how should I proceed?

If you agreed to the automatic debit of your credit card statement, and you have insufficient balance in your account to cover the total amount to be debited (either the minimum payment or the total payment), your bank will debit you on the same day up to the available amount and must notify you of the situation by electronic means of communication, indicating the way in which you can pay the missing amount.

How to avoid the appearance of improper purchases or transactions in your summary and what to do if that happens to you?

• Keep an eye on your plastic when making a payment in a store with your credit or debit card.
• Check with your card provider to see if they have an alert option for notifications of purchases or withdrawals over a certain amount. In this way, if your card was cloned, the bank or card issuer will notify you if purchases are registered for a higher value than agreed.
• Monitor your account statements and transactions periodically, anticipating and avoiding waiting until your monthly summary arrives to verify if there are any purchases, withdrawals or suspicious transactions.
• Remember that you have 30 days to challenge or challenge your summary once you receive it. To do this, you have to present a note to the issuer of the plastic, pointing out the issues and concepts that motivate your claim.
• During the time that the dispute process lasts, the issuer cannot prevent you from using the credit card or demand payment for the questioned consumption.

What do I need to consider about promotions and benefits?

• Read the conditions that govern bonuses and/or promotions carefully before contracting and/or using them. Take into account all the requirements or conditions required for its maintenance, especially if there are established ceilings and the date of its completion.
• Pay attention to the notices by email, telephone or other means, provided by the issuer to inform you of the end of a bonus and the consequent start of the collection of commissions and/or charges for the provision of a financial service.
• Remember that, when the issuer refunds you an amount for having erroneously settled a promotion, discount or other benefit, they must also reimburse you expenses and interest.
• You can compare the commissions, charges and interest rates charged by the other entities on the website of this Central Bank.
• Don’t rush to hire, analyze the different offers on the market and gather as much information as possible and then choose the most convenient option.

How to avoid the application of improper charges and commissions?

• Control the fees and commissions charged for the use of your card. To do this, compare the price grid attached to the signed contract with what is charged in the account statements. If you detect any charge or commission not agreed upon or modification not previously reported, file your claim with the issuer.
• Remember that, if the issuer has to refund you an amount because it is not agreed in the contract, it must also reimburse you expenses and interest.

What do I need to consider about my credit card statement?

• Control the fees and commissions charged for the use of your card. To do this, compare the price grid attached to the signed contract with what is charged in the account statements. If you detect any charge or commission not agreed upon or modification not previously reported, file your claim with the issuer.
• Remember that, if the issuer has to refund you an amount because it is not agreed in the contract, it must also reimburse you expenses and interest.
• You must receive the account statement five (5) days before the expiration date.
• Remember that, if you do not receive it, you are not exempt from making the payment.
• You can request a copy of your statement from the card-issuing branch or call to find out your account balance and minimum payment amount.

How do I cancel a credit card?

• Each entity must provide you with the corresponding procedure for your request to cancel your credit card
• You may request the cancellation in person at any branch or through any of the electronic means enabled by the entity for this purpose.
• If you have outstanding debts, you can also cancel it. In this case, you may be asked to carry out the procedure in person at any branch.
• Remember that, from the date of submission of your application, the obligated entities may not accrue any type of commission and/or charge, being possible only to charge commissions and/or charges accrued prior to the date of your request.
• Keep in mind that the consumption made in installments will continue to accrue monthly according to the agreed amortization system, and the maintenance cost cannot be accrued. You may only be charged the fees for sending the account statement in paper format (not virtual), if you have previously chosen that modality.

Transfers

Do transfers have a cost?

Transfers made by “Financial Services End Users” are free of charge. However, it is necessary to clarify for the rest of the users that the costs of the transfers will depend on who makes and who receives them. They vary if it is a microenterprise, a business, and if the transfers are between own accounts or not.
The scheme distinguishes immediate TRANSFERS in general from PAYMENTS made through transfers.
In the following table you can see the cases in which commissions can be applied:

(1) According to the conditions provided for in the rules on “Determination of the status of micro, small or medium-sized enterprise“.
(2) According to the definition of small business in Communication A7153
(3) See in particular point 1.5.5.

When are transfers immediate?

Immediate transfers may be made without the need for special requests up to the amount equivalent to at least 15,000 UVAs for operations in pesos per day and per account, and for 12,500 US dollars or euros for operations denominated in those currencies, always per day and per account.
According to Communication C89549 , 15,000 UVAs are equivalent to approximately $2,629,000 as of November 30, 2022.

At what time can I make immediate transfers?

You can make immediate transfers between accounts of the same currency every day for 24 hours.

Can the amount to make an immediate transfer be increased?

The regulatory limits (15,000 UVAs) may be temporarily extended for specific operations, at the request of customers. Therefore, in order to eliminate the limits on the amounts of transfers – both in pesos or dollars – to carry out a particular operation, you can notify your bank (in person or through the enabled electronic channels).

At what time can these special transfers be made?

Transfers may be ordered 24 hours a day, every day of the year. In case you have requested a temporary extension of the limits to transfer more than the equivalent of 15,000 UVAs or more than 12,500 dollars, the authorization is made temporarily, generally for a certain day, in which during the 24 hours you can make transfers for that greater amount.

In what currency are the transfers received from abroad for the payment of pensions credited?

Banks must allow foreign currency income to be credited to your foreign currency accounts.
If the transfer you receive is in the same currency in which your account is denominated, the bank must credit you with the same amount received from abroad.
When your bank decides to charge a fee and/or charge for these transactions, it must be identified through a specifically individualised concept.

Does the bank have the obligation to identify the originator of a transfer?

The institution receiving the transfer must report:

• The total amount transferred.
• The date of the transfer.
• The name of the ordering customer. When available, the Fantasy Name will be entered instead of the name of the account holder.
• The CUIT, CUIL, CDI number of the ordering customer.
• Unequivocal reference of transference.

Rights of users of financial services

What should I do if I have problems with the entity I operate with?

In order for the BCRA to manage your claim, you must first formalize it at your bank and demand the corresponding number. If you do not have a response within 10 business days, you can enter it here taking into account all the guidelines indicated therein.
If the claim is related to the information of a debt that appears in the BCRA database, you can enter it here.

Remember to read and comply with all the requirements before completing the form.
Keep in mind that you can also appeal to the National Directorate of Consumer Defense

What regulations related to Consumer Protection can be consulted on the BCRA website?

The “Protection of Users of Financial Services” regulations can be accessed by clicking here. On the other hand, the legal framework of Consumer Defense can be viewed by clicking here.

What is a financial institution?

These are those included in the Financial Institutions Law No. 21526 and include:

• Commercial banks
• Investment bank
• Mortgage banks
• Finance Companies
• Savings and loans for housing or other real estate
• Credit Banks

How can I know if an entity is regulated by the BCRA?

Here you can consult all the entities regulated by the BCRA.
Consult the database to obtain the following data of all the entities operating in the country: bank number, CUIT, month of balance sheet closing, contact details (head office address, telephone, fax, website, email).
You can also obtain data on the association and group to which the requested entity belongs, its directors, shareholders, auditors and those responsible for customer service of financial services, information on its financial statements, debtor situation, economic indicators, structure (number of current accounts, savings banks, fixed terms, loans, staffing), subsidiaries and ATMs and quarterly information presented.

Who is considered a Financial Services User?

Users of financial services are considered to be individuals and legal entities who, for their own benefit or that of their family or social group and as final recipients, make use of the products and services offered by banks, financial companies and/or credit cards, without incorporating them into their commercial activity.

If you can’t find the answer you need in the FAQs, you can fill out the form and send us your query.

With the contribution of users we can improve the financial system.