That, as investment expert Elena Alonso points out, “has driven the use of this type of accounts because the restrictions on accessing the dollar make people go to the MEP and feel the need to have the money invested so as not to lose against the inflation”. Therefore, Salvador Vitelli, analyst at Romano Group, points out, in the same sense, that “The set of restrictions, within the framework of the stocks, has led to a sharp increase in the opening of accounts to be able to access the financial dollar”.
Given that client accounts are key to this and to investing, in general, in the capital market, whether through a brokerage firm or traditional financial advisor or that of a bank, since they allow trading in bonds and stocks, have aroused strong interest in small investors in recent times.
But, in addition, the economist Cristián Buteler assures that “It is essential that we all have one, not only to buy the MEP dollar, but so that we get used to investing, which is a way to go further in saving.“. And, on the other hand, although he recognizes that the current economic conditions do not help in Argentina, he considers that, in all parts of the world, stock investment is a very important instrument for all countries due to the resources that the capital market generate.
Client accounts: what are they?
Is about an account in which the balance and movements of both money and negotiable securities are recorded. Therefore, it records entries and exits of investment instruments and money (unlike a traditional bank that only records money).
“Natural persons use them for investment and legal persons, in addition to protecting capital, to finance themselves.. An interesting fact is that they are exempt from taxes on debits and credits for checks, among other taxes,” explains Alonso. Thus, when companies receive checks in their accounts, they enter without the 6 per thousand discount, which they usually receive. applies, and it is more convenient to receive it from a client and leave the money invested, in some cases.
Consequently, it stands out that A client account is essential to protect the value of your money in the case of human beings, while for companies it goes beyond that. and they use them to discount checks, make stock guarantees, channel capital contributions, etc. “In fact, the new oil dollar allows part of the money to be channeled into investments,” Alonso mentions as an example.
Need and accessibility: reasons why interest in opening client accounts is growing
And, in that context, the economist at Epyca Consultores, Joel Lupieri, highlights that, “Obviously there is a market interest, on the part of the Settlement and Clearing Agents (ALYCs), which are the brokerage houses, to take advantage of the momentum of the stock market dollar”.
It happens that this exchange rate comes with a convenient price due to the constant interventions that the Central Bank (BCRA) makes in that market. And he assures that, beyond that, another element that drives this dynamic of interest in the client accounts is that a strong increase in commissions is not being seen at this time.
He also rules out that we see an increase in these prices in the future as well, given that “there are companies that advertise themselves as free or without commission.” Thus, it highlights that, today, the possibility of opening accounts online and without costs, makes the intermediation market very competitive.
“We noticed a very great interest in sheltering savings or becoming dollarized,” points out, in turn, Lorena Malatesta, Marketing Manager of IOL investonline. And she explains that he boom It is a product, on the one hand, of awareness about personal finances and the moment we are going through as a country, with inflation that reached 123% year-on-year and that month after month is detracting from our income.
That, on the one hand, but, on the other, highlights that “An important point is accessibility: today anyone can open an investment account in minutes and at zero cost.“. Thus, it indicates that the ease in this process allows all people, even those who do not know how to do it or are afraid, to be encouraged to try it.
To which Alonso adds that “the use of virtual wallets, which offer investment instruments with the money that is taken into account, has helped a lot. They are a first step into the world of investments.”
How to open a client account?
“Today it is very easy to open a client account. Many Alycs have apps. It can be done electronically, technology has helped a lot. You can fund the account through the bank and most of the tools offered are almost entirely for online trading,” says Buteler.
Any person who wants to operate in the Stock Market or the market buying and selling assets needs to open a client account and, through that action, authorizes a bank or an agent or brokerage company to operate in the market on behalf and at the client’s order. , who is the principal.
The opening must be carried out through an ALYC and requires completing the client account opening form, presenting documentation that proves identity and proof of income. In addition to other data and documentation that may be requested by the intermediary through whom you decide to enable the account.
Many brokerage firms offer the possibility of opening it online with simple identity validation steps, such as a photo of the face, the National Identity Document (DNI) and, in some cases, a fingerprint or iris of the eye. Everything online and very fast.
A tentative step by step
You can also request the client account, even in the bank with which you usually operate, since many have their own ALYC and, in those cases, the process can be more agile. In this case, while the process varies from one provider to another, in most cases, it can be done with these simple steps:
- enter to home banking with key and password
- go to the Accounts link and then Accounts opening
- choose the option Client Account
- indicate with which bank account is to be linked
- in the middle of the process, they can request information and documentation that validates identity.
This is a procedure that usually has no cost, although, depending on the company, it will usually be necessary to pay for the custody of the securities, or for commissions for the purchase and sale of bonds and shares and each entity decides what rates it applies.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
