The Board of Directors of the Central Bank of the Argentine Republic (BCRA) extended until December 31, 2020 the suspension of the collection of all charges to operate at ATMs. This measure, established to facilitate the operation of users, was already in force until June 30 and had had a first extension until September 30 inclusive.
Financial institutions may not charge charges or commissions for any of the operations (deposits, withdrawals, consultations, etc.) carried out through all ATMs enabled and operated by them in the country, regardless of the amount or quantity of withdrawals, whether or not the user is a customer of the entity.
The measure that establishes that all entities must allow ATM withdrawal amounts of at least 15,000 pesos (accumulated daily) also remains in force. This includes withdrawals made by both individuals and legal entities, regardless of whether or not they are customers of the entity.
Extension for the non-collection of punitive interest on unpaid loan installments
The BCRA decided to extend until December 31, 2020 the period in which entities cannot charge punitive interest on the unpaid amounts of loans granted. In this way, the unpaid balances of loans granted by financial institutions, including those that are updated by UVA, whose installments are due between April 1 and December 31, 2020, will not accrue punitive interest. In addition, it is ratified that the unpaid installments must be incorporated in the months following the end of the life of the credit, considering the accrual of the compensatory interest rate.
This regulation does not include credit card financing.
In the current context, it is important to remember that users have the right to reverse direct debits and automatic debits, within 30 calendar days from the date of the debit and the obligation of entities to return the funds within three business days of the request. On the other hand, the Board of Directors, in the same regulation, extended the validity until December 31, 2020 of the provision that extends the usual maximum default periods in the classification of debtors in levels 1, 2 and 3 by 60 days.
