The BCRA has prohibited interbank direct debit and recurring instant debit (DEBIN) for making any payments on loans. Instead, payments can be made through “spot DEBIN”, which requires the recipient customer’s express authorization prior to each debit.
Interbank direct debit and recurring instant debit continue in effect for all other payments of services, utility bills and taxes.
Communication A 6909, issued today, also establishes that a customer request for a direct debit reversal cannot be denied by the originating institution for any reason and must be fulfilled, regardless of the amount, within 72 business hours.
Apart from these new measures, customers may ask their bank to cancel a direct debit, 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 known as single banking code (CBU). Customers do not have to explain the reason for cancellation.
In line with other regulations already issued, protecting the rights of financial service users is a priority for the BCRA.
