09/23/2020 - 13:37
Dollar purchases have been suspended since the tightening of the exchange rate was announced on September 15.
And for now
there is no defined date
for these operations to work again.
With the reinforcement of the stocks, the restrictions to operate in the foreign exchange market grew.
These are the 10 reasons that hinder the purchase of dollars:
Check on people who have social plans
It was the issue that was at the center of the discussions in recent days because with the new rules, people who receive social plans, such as
the Emergency Family Income (IFE),
can no longer access the dollar.
Banks have to check with ANSeS if each person who wants to buy foreign currency falls into this category.
Until now, this control was not automated.
Following an agreement between the Central Bank and ANSeS, there is a commitment to streamline this process, but the new system is not yet in force.
Control over alleged digital coleros
This check is also made on the basis of ANSeS data.
With the new measures,
people who have no declared income
, which includes the unemployed and informal workers,
will no longer be able to buy dollars
This seeks to avoid "digital coleros", those who in exchange for a percentage use their monthly quota to buy on behalf of others.
Now the banks will have to resort to the database that ANSeS will provide to the Central Bank to establish if a person has income and therefore is authorized to buy.
Collation of those who received state aid
The monotributistas who received credits at zero rate and the businessmen or directors of companies that entered within the program of Assistance to Work and Production (ATP) cannot buy either.
In this case, the control is simpler, because the benefit is granted by the State through the bank in which the person has an account, so it is an internal control.
But the entities warn that at the same time they have to check that those who are OK in bank A are also in bank B. Until now, this was done with an affidavit of the person, but it is not clear that it continues to be that way .
Crossing expenses with cards
This is one of the most difficult points.
With the new provisions, card expenses that are made in dollars are computed within the monthly quota of US $ 200. Then, whoever spent US $ 600 on purchases, will not be able to use the quota for the next three months.
Each bank can check the customer's expenses, but cannot confirm that the person has not spent the quota with a card issued by another financial institution.
"It would be necessary to see if the Central Bank plans to
share part of that information
. For now we have no news of this. If not, the alternative would be to implement an affidavit," they indicated from a private bank.
Checking refinanced balances
In April, the Central Bank ordered that the balances of the credit card maturities for that month would be automatically refinanced, in a scheme of 9 fixed installments with a three-month grace period and at a rate of 40% per year.
Now the monetary authority resolved that the people who had that benefit will no longer be able to buy dollars until they finish paying that refinancing.
Once again, banks have to check that the customer who is OK to buy at bank A does not have refinanced balances at bank B.
Control over frozen loans
People with frozen installments on mortgage or pledge loans will also not be able to buy.
This involves a cross-bank check to see that clients are eligible throughout the system.
For now, it is not defined how that format will be.
Dollar transfer blocking
Along with the purchase and sale of dollars, transfers between accounts of different holders in this currency were suspended.
Last night, the Central reported that it will eliminate the validation provided by Communication A7105 -the one that hardened the stocks- for transfers between accounts.
But this has not yet materialized.
Suspension of MEP dollar transfers
The operations of the MEP dollar, which allows acquiring foreign currency through the Buenos Aires stock market, continue to be enabled.
However, due to the new regulations, banks are stopping the transfer of dollars from the brokers' accounts to those of their clients, until they can check that the issuer is qualified according to the new regulations.
Calculation of credits in dollars
With the new rules, card dollar expenses "eat up" part of the quota.
This also applies to monthly subscriptions, such as Netflix or Spotify.
Some banks indicate that it is not clear from what day the payments are computed within the quota.
Is it from 9/15, when the cap was announced, or from October 1 when the monthly quota is renewed?
Checking shared accounts
Until September 15, the people who had a shared account each kept their individual quota of US $ 200. Now this is no longer the case, since the Central established that the quota will be taken by account and not by person.
This also requires an update of the banks' systems to put these new controls in place.
Dollar: sales remain paralyzed in banks despite the agreement with the Central Bank