Home
Home

Term Certificate of Deposit

Currently, traditional fixed terms in pesos are feasible for compensation. It should be taken into account that this system does not include fixed terms with any specific modality (e.g. pre-cancelable, adjustable with a CER clause, etc.) and that those that were captured at rates higher than the reference rate and those that have had incentives or special remuneration other than the interest rate are not guaranteed.

The fact that a fixed term is compensable means that, if the customer so wishes, they can present the document at the time of maturity (in addition to collecting or renewing it in the same entity that constituted it) in another financial institution, without transferring the money, to deposit it in an account or constitute a new fixed term. This mechanism provides one more tool to customers who, within the framework of transparency promoted by the BCRA, can decide where to place their funds according to their convenience and without the pressure of fearing for their safety.

As part of this procedure, so far, the documents are scanned by the financial institution where they were submitted and sent electronically to the original entities.
By virtue of this, the fixed terms that can be compensated are those in which the depositor has the physical document because he or she has personally constituted it in a financial institution. This way you can file it for clearing at another entity.

In addition, in order to improve the current clearing process, the BCRA proceeded to regulate the standardization of the certificates since there were different models of fixed-term documents with various measures and designs, which had few or no security measures.

The new fixed-term models have been standardized on the basis of the characteristics and security measures stipulated for checks. In the case of those fixed terms that can be compensated – that is, those that have been personally constituted in the financial institution – they include the legend “Compensable by Camera” in the upper left corner, which allows customers to verify that they can access such benefit.

This measure allows depository institutions to have greater instruments for the verification and control of this type of document and is another means of preventing possible fraud. Likewise, the aforementioned standardization leads to a more adequate transmission and capture of the respective images and thus avoids occasional inconveniences for users.