He Central Bank (BCRA) published in the Official Gazette “Communication A 8092” which increases the maximum amounts for ATM withdrawals. The new limit is $60,000.
As the rule states, it establishes that “financial institutions must provide the means so that, in all ATMs enabled and operated by them in the country, natural and legal persons can withdraw, per day and in a single withdrawal, at least up to $60,000 (sixty thousand pesos), without any distinction between clients and non-clientsregardless of the type of current account.”
“The maximum sum that went from $15,000 to $60,000 and banks now have to enable withdrawals up to that amount from any ATM,” an official source explained to Scope.
It should be noted that In the case of the Banelco ATM network, the maximum amount was $40,000 for non-customers.which is why it has increased by $20,000 from now (increased by 50%), meanwhile, The $15,000 cap applied to Link Network users to use private bank ATMs (now 300% more).
A measure that was already in effect: what changes from now on
With this information on the table, the measure seems ridiculous, a mere formality that regulates something that was already happening, but in reality it does make a difference. for non-client withdrawals. And almost all banks authorize much lower maximum amounts for this segment than for their own clients.
Thus, in a bank they point out that The biggest benefit is for non-customers, who often withdraw from another bank’s ATM.especially, for example, when there is no money available at a terminal of the bank of which you are a client, something that usually happens on some weekends, especially if they are long, or when there is no branch nearby.
But one problem that is being seen is that Much of the money that customers withdraw from ATMs goes into the informal economy“The problem is that $10,000 bills go out but don’t come back into the system. People take them out and make cash payments. Many go to the informal economy because paying in cash makes costs much cheaper and they get rid of small bills faster; they keep the large bills,” said a source in the financial sector.
Thus, a concern that many entities have is the transfer of pesos that escape from the formal financial system to the informal onesomething that also worries the national government, which seeks to deregulate the economy and relieve some fiscal pressure, but in this process seeks not to lose the path of fiscal balance.
Source: Ambito
