The BCRA Has Reduced the Terms for Financial Institutions to Transfer Funds to Gas Stations for Credit Cards Sales

Financial institutions will transfer to gas stations that fall under the category of micro- and small-sized companies or else are owned by natural persons the funds corresponding to their credit card sales within five business days instead of eight business days.

This measure was adopted today, within the framework of price agreements, by the Board of the BCRA and will be effective as from October 15, 2023, provided that stores accept such payments through an acquirer.

The remaining terms for transferring the amounts corresponding to credit card sales are detailed in Communication A7305:

- 8 (eight) business days for micro- and small-sized companies and/or natural persons (unless included in "service station and petrol pumps” categories).

- 10 (ten) business days for medium-sized companies and persons who render "accommodation, tourism, gastronomy and/or health services" (if not included in the previous paragraph).

- 18 (eighteen) business days for other cases.

September 28, 2023

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