The measure that aims to expand currency competition and promote the digitalization of the financial system. The BCRA established as a maximum period on December 1, 2025 for banks to adapt their systems.
After more than two decades, the Central Bank (BCRA) returns to allow the opening of current accounts in dollars, exclusively to operate with electronic checks (ECHEQ). The measure aims to add a New payment tool in foreign currency, especially oriented to SME financing, within the framework of the official strategy to promote coin competition.
The implementation will require adaptations in banking and compensation systems, With a Adaptation period until December 1, 2025.
As explained by the BCRA in a statement, this decision seeks “Promote coins competition, as well as the policies of greater offer of services and financial products by banks.”
From the BCRA they detailed Scope that The measure applies to both natural and legal personsand that while checks in dollars can only be rotated in electronic format, Its use remains subject to current regulations on credit operations in foreign currency. In this sense, an over -discovered turn with Echeq is considered a loan in dollars, so The current regime for these operations is maintained.
In the BCRA, ECHEQ’s potential highlights as a tool to facilitate access to credit, especially for SMEs. “The ECHEQ proved to be an especially relevant financing tool for the MSMEs, because it facilitates its negotiation by being carried out electronically and remotely, reducing operational costs, of transfer and verification of documents,” Point out the official text.
Dollars and Weights: Recent measures to boost currencies
This step adds to other decisions taken in recent months, such as the interoperability of payments with QR in pesos and dollars, the possibility of paying with debit cards in dollars, and the creation of the debin scheduled for payments in installments in both currencies.
All are part of the same objective: “Promote coins competition and allow people and shops to use the currency they want in their daily transactions, “said the BCRA in the statement.
Source: Ambito
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