Problems with $2,000 bills: what happens at ATMs and the banks’ response

On May 22 of this year, the Central Bank (BCRA) put into circulation the $2,000 bills. It is the monetary paper with the highest denomination today and came out to meet an insistent request from the banks, which alleged logistical problems and wear and tear on the ATMs, but several users complain about the difficulties in operating with them. For what is this?

The truth is that the tickets that have the image by Cecilia Grierson and Ramón Carrillo They have been on the streets for almost four months and, prior to their departure, as is done in all cases, they were tested at ATMs and counting machines.

And, although sources of Central Bank (BCRA) they assured Ambit that “the bills work perfectly in the ATMs”, the experience of users indicates that many branches do not accept deposits with these papers in the automatic terminals and do not deliver them when withdrawing money.

$2,000 bill: a problem for banks

This is due, as they estimate the centralthat “there may be some ATM of some entity that has not yet been updated”, but they assure that these are specific cases, not something general.

However, a source close to the entities recognizes that “the majority of banks have not yet finished adapting their ATMs.” In fact, in many cases, they deliver them by cashier because they cannot put them in the self-service terminals due to lack of technical preparation, which generates surprise and anger in clients.

The truth is that it is striking that banks, which constantly ask for higher denomination bills, and they even complain that the new one was too small and claim that the $5,000 and even $10,000 ones are taking more than four months to update the calibration of their ATMs so that they can process the $2,000 one.

“When there is a new ticketwe have to send it abroad, update the software, they send it to you and we have to load it at all the ATMs, especially those banks “We have more modern terminals,” explains a source. According to his calculations, it takes three to four months.

Another voice of banking sector confirms that “adapting terminals is not an easy process” and points out, on the other hand, that there are not many $2,000 bills On circulation.

In Argentina, There are, as of today, some 8,549 million banknotes in circulation.of which 3,997 million are $1,000, 117.4 million are worth $2,000, 1,309 million are $500, 430 million are $200 and 1,579 are $100. And it is that

A long-awaited ticket

Let us remember that the release of the $2,000 bill It was announced in February of this year by the Central and was scheduled for the second half of the year, but was brought forward to the 22nd. However, a week before, the entities already had it in their possession to begin applying the pertinent adjustments.

It happens that it is necessary for each branch configure ATMs so that they recognize the new copies that are coming out (in this case, the new ones for $2,000).

Although it is a complex procedure, it is necessary so that the terminals can operate and that adaptation process seems to be moving slower than expected in some banks until now, but the truth is that, in most ATMs, the $2,000 bill It already works normally, like all the others in circulation today.