ATMs: Transactions at No Cost until March 31

ATM transactions will continue to be free of charge until April, and withdrawals of at least ARS15,000 can be made a day, as decided by the Board of the BCRA.

Up to March 31, 2021, financial institutions are not allowed to charge fees or commissions for ATM transactions made by customers or non-customers, irrespective of the type of sight account, the financial institution and/or the ATM network involved.

Every individual can withdraw at least ARS15,000 a day from ATMs even in a single transaction, regardless of whether they are customers or not.

Also, up to March, 31, 2021, borrowers may defer overdue installments (except for credit card financing) until the end of the loan, accruing the interest rate provided for in the contract, without any extra charges.

The BCRA’s regulation also extends until March 31 the measure whereby the periods of arrears admitted for levels 1, 2 and 3—both for commercial and for consumer or housing portfolios— are increased by 60 days, and compulsory recategorization for “Debtors’ Classification” is suspended. In addition, the distribution of earnings by financial institutions continues to be suspended until June 30, 2021.

December 17, 2020.

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