With the objective of prevent fraud in virtual walletshe central bank reported that, as of December 1, any financial institution or payment service provider that provides payment accounts (PSPCP) that receives an immediate debit (DEBIN) must show to the client a legend to confirm if you accept that the debits requested by that supplier be periodically made.
What is DEBIN?
The DEBIN is an online transfer in which the person collecting initiates the process and the person paying only has to accept it. In the case of the recurring modality, this authorization is general and enables periodic charges.
The BCRA highlighted that “the withdrawal of the adhesion of recurring DEBINs can be carried out by the receiving client through the ordering client, or the receiving entity, indistinctly, as established in the regulations on the National Payment System. Immediate Debit”.
On the other hand, according to the monetary authority, The BCRA also established improvements in the operation of immediate pull transfers between accounts of the same owner.
The changes ordered by the BCRA
The scope is limited, both to receive and to make requests for funds, to widely used accounts such as savings accounts, salary and social security accounts, savings accounts for the payment of social assistance plans and programs, savings accounts. savings for minors, adolescents and a universal free account.
An initial limit of 2,500 UVA (approximately $727,000) per day and per account is set to order immediate pull transfers, as a way to monitor their behavior and deepen the dissemination of the operation.
Payment service providers that are not registered in the “Registry of interoperable digital wallets” will not be able to order or receive immediate pull transfers.
Participants in the national payment system that currently use recurring DEBIN to fund accounts must discontinue this operation before December 1, 2023 and enable immediate pull transfers for their clients.
Pull transfers are being implemented in phases and, as of August 7, can be made to fund accounts, that is, to make requests for funds between accounts of the same owner from or to those account providers who are registered in the registry aforementioned.
People who wish to make these requests for funds must previously enroll the accounts on which they will send requests for funds and give their consent to do so.
Source: Ambito
