The BCRA has prohibited the interbank direct debit (i.e., debits from accounts at a bank other than the one where the client has opened the account) and recurring instant debit (DEBIN) for the collection of any amount related to loans. This measure will apply to transactions made as from the effective date of the communication. Previously agreed loans will continue with the agreed payment method.
In turn, direct debits and recurrent DEBINs can be used for all other payments of services and taxes.
From now on, interbank debits of amounts related to loans agreed as from the issuance of the regulation may be made using a spot DEBIN, which requires the recipient customer’s express authorization prior to each debit. Customers will receive a debit request through authorized electronic channels from their banks (SMS, e-mail, app, WhatsApp, etc.) and they may accept or reject such debit by logging in to online banking or mobile banking, or at a branch. Debits from the accounts will be made only when authorized.
This regulation also establishes that, when a customer requests the reversal of a direct debit, the reversal may not be denied by the originating institution for any reason and it must return the funds, regardless of the amount. This measure shall be applied to all direct debits.
It should be noted that customers must request the reversal of debits (i.e. the return of funds that were debited) at the institution where they have the account from which the debit was made.
Regardless of the new regulation, the options available to customers in the management of direct debits are the following:
To cancel a direct debit in their bank, without reporting their decision to the payee or the payee’s bank. Even if the direct debit was set up using a single banking code (CBU) and without a specific reason for the cancellation.
To suspend up to 24 hours before the due date of a particular debit of a service (known as “stop debit“).
To request the reversal of debits already made within 30 days of each debit, and have the funds returned to the customer’s account within 72 hours of the request.
