To date, the rule on the protection of users of financial services only included, as obligated subjects, financial entities, exchange operators, trustees of creditor trusts assigned by financial entities, non-financial companies credit and/or purchase card issuers, and other non-financial credit providers.
As of this communication, the PSPCPs and the ISPs must observe the regulations on the Protection of users of financial services, the objective of which is in protecting the users regarding the actions of the entities, preventing situations of errors or non-compliance in the entities and promoting best practices for the benefit of the users.
Likewise, it is established that the PSPCP and the PSI must present a compliance report made by registered professionals, with the pertinent certification by the Professional Council of Economic Sciences.
The report will be prepared following the model that is established in due time and must verify compliance with the regulations issued by the BCRA that are applicable according to the type of payment service provider in question and be submitted to the Superintendency of Financial and Foreign Exchange Entities. (SEFyC) on an annual basis. When the model is disseminated, the SEFyC will indicate the date on which its first presentation must be made.
Benefits for users
- Better information clarity
- Reimbursement of claims, non-consensual debits or bonuses, in term with more interest
- Protection from abusive clauses
- It forces virtual wallets to provide customer support in an accessible way.
- Ensures that the terms of the contract can be readdownloaded and saved in an unalterable way
- Customers will be able to terminate a contract or unsubscribe in a simple way.
Source: Ambito
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