Eliminating the old regulation will now allow banks to open "mini branches" in different shopsin which they can offer all the usual headquarters services: deposits, cash withdrawal, account opening, loan processing, opening of certain maturities or insurance.
The resolution was published on Tuesday by the Central Bank and will allow each financial institution to negotiate with almost all areas in which the company was opened. special window for banking procedures. They will be able to offer almost all the services of a large branch, although there will be only a limitation on the attraction of deposits, since only will be allowed up to an amount equal to the minimum and minimum mobile wage (today is 10,700 USD)for security reasons.
This model was inspired by the effects of this kind of banking system that has been operating for years in neighboring countries such as Chile, Brazil, Peru and Colombia, and points out that the sources of monetary authority are as follows: to facilitate access to small city banks, which in the large banking sector is usually far away.
The mechanism will operate in accordance with the agreement that each bank will make with each sale. Companies will conduct research to assess the economic convenience of the potential opening of this branch and, if implemented, pay commissionfor mutual negotiations between the parties, usually paid through an open account or a loan granted.
There will be no exclusivity requirements: each bank will be able to connect with different companies and businesses Each trading can have different bank windows. In any case, the security and operational responsibility of each branch will be the responsibility of financial institutions.
As it is a new experience in the country, there is still uncertainty about how the new modality will work. This could include a physical space that is different from trading (a different window) and to the destination ATM. Customers will not be charged extra to work for such agencies.
This could also mean expanding banking activities break with schedule schedule Typically, these services range from 10 to 15. Although central bank authorities could not confirm it, the gradual introduction of the new model "tends" to eliminate this time constraint.
Shops, of course, will have to display two stickers in their stained glass. One of the central banks and one of each bank associated with this trade. Financial institutions must also publish one of the authorized bank correspondents on their websites.
There is a question that promises disputes with banking unions. New subsidiary companies can be served by sales staff, not by bank employees. The central sources defended themselves, confirming that "international experience shows that more banking access points, the level of employment in the sector is not smaller but increasing."
According to the Central Bank, "the opening of these access points to the financial system will also help to improve the more than 14 million prepaid payment processes that Anses runs each month, in many cases in areas where complex banking access is available."
Official sources estimate that the new scheme could be implemented next year. Companies have typically closed their investment plans for the coming year, but banks have been asking for some sort of regulation to take on the medium term to start implementing it.