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Minibanks will come: they will allow making deposits, opening accounts and fixed deadlines in stores



The abolition of old regulations will now allow banks to open up "mini branch" in different stores, where they can offer all services from ordinary headquarters: deposits, withdrawal of money, opening accounts, processing loans, opening fixed deadlines or requesting insurance.

This resolution was published on Tuesday by the Central Bank and will allow every financial institution to negotiate with businesses from almost all opening areas special window for banking procedures. They will be able to offer almost all services from large branches, although there will only be a limit when it comes to making deposits, because only will be allowed up to an amount equivalent to vital and mobile minimum wages (today at $ 10 700), for security reasons.

This model is inspired by the operation of a type of branching of the banking system that has been operating for years in neighboring countries such as Chile, Brazil, Peru and Colombia, and will show, said a source of monetary authority, to facilitate access to banks in small cities, which usually has a large remote banking branch.

The mechanism will work from the agreement that each bank will do with each trade. The entity will conduct research to evaluate the economic comfort of opening this mini branch and if it occurs with its implementation, have to pay a commission, for free negotiations between the two parties, which are generally paid for by an open account or a loan given.

There will be no exclusivity requirements: each bank will be able to deal with different businesses and each trade can have a different bank window. The security and operational responsibilities of each mini branch, in any case, will be the responsibility of the financial entity.

Because this is a new experience in this country, some things are unclear about how new modalities will work. This can include or not different physical spaces from one trade (different windows) and until finally an ATM. Customers will not have additional fees to operate in this type of agency.

Expansion of banking coverage can also be meaningful break with the schedule scheme Typical of this service, namely 10 to 15. Although the Central Bank authorities cannot confirm it, the gradual application of the new model "will tend" to eliminate the time limitation.

Shops, of course, will be obliged to display two stickers in their stained glass windows. One from the Central Bank and one from each bank related to the trade. Financial institutions must also publish on their respective websites from official banking correspondents.

There is a point that promises controversy with the banking union. New mini subsidiary can be served by trade staff, not bank employees. Central sources defend themselves that "international experience shows that more banking access points, the number of jobs in this sector does not decrease, but increases".

According to what the Central Bank said, "the opening of access points to the financial system will also enable an increased payment process from more than 14 million benefits that Anses does every month, in many cases in areas where it is a difficult access option to the banking system. "

Official sources estimate that the new scheme can be implemented starting next year. Companies, at this time of the year, generally have closed their investment plans for the following year, but the bank has requested this style of regulation for some time, so that in the medium term it can begin to apply it.


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