In order to facilitate people's access to the banking system, the monetary authority approved this Tuesday's regulation (Communication A 6033) which stipulates conditions to ensure "Safe, transparent and effective" realization of banking operations, among others, such as opening an account, signing a fixed term, obtaining a loan, even buying dollars, through complementary agents, called banking correspondents, which can be formed through agreements between entities and different networks of stores or businesses.
Size "This will mainly benefit those who live far from bank branches and are part of a permanent goal to achieve greater financial inclusion", highlighted from BCRA, which has enabled cash withdrawals in supermarkets and other businesses, operations that have grown in recent months.
The source of the monetary authority stated that the new provisions were "flexible enough" so that financial entities could make the agreements they wanted with the store, as long as they adhered to minimum security standards, which would be "pure" responsibility and exclusively from the bank. "
Among them "flexibility" is permitted by standards, for example, businesses can use their employees to service banking services, while businesses can seal agreements with more than one entity, and banks, in turn, may have more than one entity. agent or chain. Complementary agencies will charge for each operation, which will be determined by the bank.
In addition to the operations mentioned, transfers can be made; paying for services, taxes and credit; and extract and deposit money. In the last case, and in the first stage, the amount must not exceed the equivalent of a vital and moving minimum wage, today at $ 10,700, to have a lower security risk, or washing.
Countries such as Brazil, Mexico, Chile, Colombia and Peru used this system last year, and have shown that through this banking correspondent, new channels of access to the financial system can be opened. In turn, correspondents minimize transaction costs, maximize financial intermediation and promote economic formalization.
Although Argentina currently reaches countries in the region at a number of bank and ATM branches, there is a marked deficit in terms of access points (PDA) to the financial system (determined by the number of branches, ATMs and Banking correspondents). For every 10,000 residents, our country only has 8 PDAs (They also included self-service terminals and cellular branches), when, for example, they reached 33, in Brazil, 24, and in Mexico 12.
On the other hand, from BCRA emphasizes that opening new points of access to the financial system will also increase the payment process from more than 14 million benefits that ANSES does every month, in many cases in areas where access to the banking system is difficult due to lack of branches . In addition, of course, and viewed from the side of the bank will result in competition between various banks, which will help increase efficiency and reduce costs that must be faced by customers.
From the estimation of BCRA that at the beginning of next year will start a bank test in the institution, and not rule out that there is "a lot of trial and error", which helps determine what should be offered to each bank and what doesn't. On the other hand, the effect on banking work must be analyzed, although from BCRA they believe that, based on evidence in neighboring countries, it will not be affected, and conversely, will tend to increase in line with the growing financial system