The BCRA has created an instrument, called collection by transfer (cobro con transferencia, CCT), which will allow for the collection of loan payments in a secure and transparent manner. Further ahead, this instrument will also channel other regular payments, such as utility bills. The new service will have to be available starting on August 31, 2026.
CCT is a new type of instant transfer that seeks to offer a modern, superior solution based on a rigorous fraud prevention approach.
Various mechanisms that are similar to those existing in other countries—such as Pix automático in Brazil, AutoPay in India, and PayTo in Australia—were considered during the design stage, along with a set of proposals submitted by the ecosystem of payments to the BCRA in 2025.
Key features of CCT:
- – Only enabled for the collection of fixed and equal installments during the term of the agreement.
- – Cap on installment-to-income ratio: 30% at credit origination. This is to prevent overindebtedness.
- – Caps on collection attempts for each installment: one initial attempt and up to two retries (48 and 96 hours later), thus preventing abusive practices.
- – One-time express consent given by the client to have their account debited, before loan installments can be debited.
- – Lender’s obligation to notify their client electronically one business day before the funds are to be debited from the account.
- – Possibility of immediately withdrawing consent, both with the lender and through the provider of the account to be debited.
- – Limited to financial institutions and non-financial credit providers (proveedores no financieros de crédito, PNFCs) authorized by the BCRA.
- – Fee scheme: 0.6% minimum fee to be paid by lenders, and proportional distribution among participants, thus encouraging competition and service provision.
- – Lender is liable in the event of fraud, aligning incentives for responsible use of this new collection mechanism.
This system introduces a new role, the CCT acquirer, which will be the only one authorized to offer this collection mechanism. This will encourage competition among players and ensure interoperability among instant transfer schemes.
This initiative reinforces the BCRA’s commitment towards credit expansion, innovative means of payment, protection of financial consumers, and transparent financial transactions, and also towards a stronger open finance system in line with best international practices.
