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June IFE Anses bond: 4 million bank accounts will be opened to make collecting easier

2020-06-05T00:19:11.061Z


The government seeks to expand the bankarization of the beneficiaries. They will be launched together with the new payment round.


Annabella Quiroga

06/03/2020 - 10:08

  • Clarín.com
  • Economy
  • Economy

With the launch of the second payment of the Emergency Family Income (IFE) to assist the most disadvantaged households in the midst of the coronavirus pandemic the government has set an ambitious goal: it will try to expand banking and to achieve this, it will seek to Open  4 million bank accounts for the beneficiaries of this $ 10,000 bond.

The payment schedule for the second round of the IFE starts on June 8 . Data Anses reveal that almost half of the population included in the IFE has no bank account.  On Monday, the head of the organization, Fernanda Raverta , indicated that "the idea is that we can finish this schedule with one hundred percent of men and women banked . This situation is very dynamic and we will continue to ask questions that accompany families, so it's important that everyone have their CBU. "

For this the payment network will be extended with new mouths. By provision of the Central Bank, all banking entities will from now on be obliged to accept the retirees and beneficiaries of social plans that Anses refers them. This seeks to streamline payments and decompress the few branches that today pay this kind of assets.

Among the almost 9 million beneficiaries of the IFE there are 2.4 million who already have accounts because they are holders of the Universal Child Allowance (AUH) or the Universal Pregnancy Allowance (AUE). In addition there are another 2 million, in many cases monotributistas of the lowest categories, who already had their own account. 4 million remain unbanked. 

Until now, Anses paid most of those 4 million through a "cash point" mechanism , which allows them to withdraw money from some ATMs even without an account. For this they use a password that the body sends them by cell phone.

In addition there are so far 1.3 million people who do not even access the "cash point", so they have to go to collect the branches of the Argentine Post. All this made the payment schedule of the first round of the IFE extend for two months. To such an extent that according to the latest data released by Anses there are still almost a million people who after 75 days of quarantine did not collect the $ 10,000 bonus . Now the intention is that the second batch payment scheme is more limited and does not extend beyond five weeks.

No cost

So the idea is to move towards more expeditious ways and open new bank accounts. This service will have no cost for users . As the beneficiaries agree to bank access, Anses will set shifts so that they will collect , in the style of what is already happening with the AUH. "We don't want 9 million people out on the street together," said Raverta. What is not wanted is that images such as those of April 3, when a million people crowded in the middle of the quarantine to collect their assets, be reissued.

Anyway, from Anses it was reported that for a time some benefits will continue to be paid in the Mail.

The fact that the accounts are free does not mean that they are necessarily a drag on the banks. For some entities there is a vein to be exploited there since the opportunity to sell additional services to at least part of these clients opens up . In this sense, in recent weeks promotions began to emerge to attract both these beneficiaries and retirees.

Banco Provincia launched a four-day discount of up to 20% on supermarket purchases for holders of the $ 10,000 bond. To this is added that private entities such as Santander, BBVA and Itaú launched promotions with preferential services and discounts for retirees who move their assets to these entities.

With this initiative, the government wants to deepen a path that it had already started with the monotributistas and self-employed who accessed credit at a zero rate of up to $ 150,000. 500,000 people have already signed up for this program. Since the loan is managed through a credit card, it is essential that the beneficiaries have one. But for many this was a shortage, which led to banks having to issue 60,000 new plastics.

Something similar happened with loans at 24% for SMEs. When trying to implement it, they found that there were 200,000 small companies that did not have a bank folder started , the fundamental requirement to be able to move forward with this process. And they found another more worrying fact: they detected 50,000 SMEs that did not even have a bank account.

Source: clarin

All business articles on 2020-06-05

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