BCRA Clarifications to Current Account Holders

The BCRA would like to clarify current account holders that:

• Fines for bounced checks will be SUSPENDED until June 30, 2020.
• Closure of accounts and disqualifications to operate with current accounts will also be suspended until the same date.
• Irrespective of the date of rejection, bounced checks are recorded in the Central Bank Debtors' Database and Database of Returned Checks.
• Only checks that have been cashed or deposited within 15 calendar days after the date of rejection will be deleted from both databases. The bank has 10 calendar days to report them to the BCRA.
• All those bounced checks that have been cashed or deposited but not reported to the BCRA will remain pending in the Central Bank Debtors' Database and Database of Returned Checks.

June 4, 2020.