The Central Bank of the Argentine Republic (BCRA), through Communication A6680, established a maximum period for financial institutions to credit the amount of sales made in a payment by credit and/or purchase cards to the account of each business . This maximum period was set at 10 business days from the date of the corresponding card purchase. Until the issuance of this regulation,
only the accreditation period for debit cards was regulated.
In addition, the BCRA determined that financial institutions will not be able to charge adhered businesses interest or commission linked to the new settlement period. Nor may they prevent or hinder in any way the mode of consumption in a payment with these cards.
The measure seeks to promote a reduction in the cost that businesses currently face for using the Credit Card System, greater acceptance in businesses of these cards and formalization of the economy.
