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New rules in card purchases: answers to the doubts that were left in the inkwell

2020-09-17T01:19:50.996Z


What you need to know about the new conditions set by the Central Bank.09/16/2020 - 14:41 Clarín.com Economy "Question: if you go on a trip and go beyond the USD 200 quota, they take it out of the following quotas, so you can't watch Netflix, right?" The consultation on Twitter by Fausto Spotorno , an economist at the Ferreres study, made it clear on Tuesday after the Central Bank's announcements that the measures implemented were not so easy to understand. And, fur


09/16/2020 - 14:41

  • Clarín.com

  • Economy

"Question: if you go on a trip and go beyond the USD 200 quota, they take it out of the following quotas, so you can't watch Netflix, right?"

The consultation on Twitter by

Fausto Spotorno

, an economist at the Ferreres study, made it clear on Tuesday after the Central Bank's announcements that the measures implemented were not so easy to understand.

And, furthermore, as often happens, once the new norm appears, particular situations begin to emerge that are not always foreseen or thought by policy makers.

The first response Spotorno had was from another economist, Gabriel Caamaño: "No. The card has no quota, but the quota of 200 consumes you," he replied.

And he was correct, according to the clarifications that were being made from the Central Bank.

The Central Bank ruled that credit card spending abroad will take part of the quota of US $ 200 that each person can buy per month.

Thus, if someone spends US $ 250 on a purchase abroad, they will not be able to buy a dollar to save for one month and the next they will only be able to buy US $ 150.

Question: if you go on a trip and go over the quota of USD200, they take it out of the following quotas, so you can't watch Netflix, right?

- Fausto Spotorno (@fspotorno) September 16, 2020

Here is an attempt to answer the questions that arose after the imposition of the XXL stocks:

If I make a purchase with the card abroad and I spend more than US $ 200, can I buy again the following month?

Yes.

The spending limit in dollars is set by the issuing bank for each card according to the customer's credit profile.

If authorized by the bank, a customer could spend $ 300 one month and spend that same amount again the following month, including paying for services in dollars, such as Spotify or Amazon Prime.

Of course, he could not buy a savings dollar, in this case, for six months.

Is there an annual cap on spending in dollars with the credit card?

Argentines can only buy US $ 200 per month in official dollars.

But in theory, there is no limit on the part of the Central Bank to what can be spent per year on purchases with credit cards in dollars.


If I buy an app or pay for a service and the charge comes in dollars, does the monthly quota of dollar savings that I can buy eat up?

Yes.

All card expenses that come in dollars in the summary are part of the quota of US $ 200. If you pay US $ 10 for storage or memory service, for example, you can only buy US $ 190 per month.

Is it true that spending in dollars with the card is considered a savings dollar purchase and, then, I cannot buy an MEP dollar for 90 days?

No, although purchases in dollars with the card eat part of the quota of US $ 200, they are treated differently.

This means that you can pay for purchases in dollars with the card and, in turn, purchase dollars on the Stock Market via the MEP dollar.

If I made purchases abroad for US $ 1,000 and this month I already used the quota of US $ 200, can I buy dollars at the MEP?

No, because you have to wait 90 days.

But once that period has passed, you will be able to go to the MEP, despite the fact that there are two more months (US $ 400) to cover the card with the US $ 200 per month of the savings dollar quota.

And this is because dollar card expenses do not affect the purchase of MEP dollar.

If I have a bank account with my partner, can we each buy US $ 200 as before?

No. Now only one of the owners or co-owners will be able to acquire the US $ 200 since it will be taken by account and not by individual. 

NE

Source: clarin

All business articles on 2020-09-17

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