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Pull transfers: BCRA establishes new key changes for companies and banks

Pull transfers: BCRA establishes new key changes for companies and banks
Pull transfers: BCRA establishes new key changes for companies and banks

The Central Bank excluded legal entities from making pull transfers and also modified a rule that favors financial entities and PSPCPs.

Payment Market

He central bankthrough Communication “A” 8030/2024 confirmed new changes that apply to companies and banks in relation to pull transfers.

First of all, it establishes that the current accounts of legal entities They will be excluded from the “pull” immediate transfer service, as well as special current accounts for legal entities included in the rules on “Savings deposits, salary and special accounts.”

Secondly, in the case of banks, cancels a tariff that was charged of 0.3% of the amount which corresponded to point 1.b) of Communication “A” 7996. In this case, the financial entities or PSPCP (Payment Service Provider that offers payment accounts) that provide the accredited account will not have to pay any fee to the entity. debited

What are immediate “pull” transfers?

Pull transfers are electronic fund transfers that are made immediately, using funds that a person has in another account they own. The operation is performed linking accounts only once through a rapid data validation process. Thus, it will no longer be necessary for you to make a traditional transfer to add pesos to a virtual wallet, but rather, from a single application, you will be able to carry out all the management.

Pull vs push transfers

Until this new solution appears, people had to enter the account of origin of the transfer and enter the destination CVU number to complete a fund transfer operation. This transaction is called “push transfer”.

Unlike “push” transfers, in the new “pull” transfers andThe customer who requests the money is the one who authorizes the transaction, without leaving the app in which they want to deposit money.

Source: Ambito

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