In order to facilitate people's access to the banking system, the monetary authority approved the regulation this week (notice A 6033), which sets out the conditions to ensure "Safe, transparent and effective way" among other things, the realization of bank operations, such as opening an account, signing a fixed term, obtaining loans, even buying dollars using additional agencies called bank correspondents, which can be determined through agreements between companies and different networks from shops or companies.
Event "This will in particular support those who live far away from banking branches and are part of the permanent goal of greater financial integration", highlighted by the BCRA, which has already allowed cash withdrawals in supermarkets and other companies, has grown over recent months.
The sources of the monetary authority have argued that the new provision is "flexible enough" so that financial entities can enter into contracts they want with stores, as long as they meet the minimum security standards that will be "clean" and only from banks. "
For example, among the permitted "flexibility" standards, companies can use their employees to serve banking services, but the company can enter into contracts with more than one company, while banks may have more than one entity. agent or chain. Addition agencies will charge a fee for each operation to be determined by the bank.
In addition to these activities, transfers can be made; pay for services, taxes and credits; and issues and deposits money. In the last case and in the first stage – the amount must not exceed the minimum and minimum wage equivalent, today, to reduce security risk or money laundering, is $ 10700.
Countries such as Brazil, Mexico, Chile, Colombia and Peru used this system a year ago and have shown that new financial system access channels can be opened with these bank correspondents. Correspondents, on the other hand, reduce transaction costs, maximize financial intermediation and facilitate the formalization of the economy.
Although there are currently number of bank branches and ATMs in the countries of the Argentine region, the financial system has a significant deficit in terms of access points (PDAs) (as determined by the amount of branches, ATMs and correspondents), Banking). Every 10,000 people in our country have only 8 PDAs (They include self-service terminals and mobile affiliates), for example, they reach 33 in Colombia, 24 in Brazil and 12 in Mexico.
On the other hand, the BCRA emphasized that the opening of new access points to the financial system would also improve payments related to more than 14 million ANSES privileges each month, in many cases in areas where access to the banking system is difficult due to lack of affiliates. In addition, of course, and from the point of view of banks, competition will be created between different banks, which will help improve efficiency and reduce the costs that customers have to deal with.
From the BCRA estimates that bank checks will be launched at the start of next year in the agencies and did not exclude the existence of "many trials and errors" that help determine what should be offered to each bank and which is not. On the other hand, the impact on banking employment will have to be analyzed, although from the BCRA they believe that, based on evidence in the neighboring countries, this will not affect, and on the contrary, it will increase in line with the financial system