Banks will be able to raise the commissions they charge for accounts and cards

Mary Church

11/05/2020 18:42

• Clarín.com

• Economy

Updated 11/05/2020 18:42

As of January, the Central Bank authorized an

by

for account maintenance and the costs associated with credit cards.

As defined by the monetary authority in charge of Miguel Angel Pesce, for the provision of services to financial users, banks may increase by 9% in January and another equal percentage in February 2021.

"The Central Bank of the Argentine Republic decided to authorize an update of the commissions that banks receive for the provision of services to financial users, which may be effective in January and February 2021,

" he says the BCRA statement this Thursday.

The increases in bank commissions occur in a context in which the Government begins to unfreeze some price increases: it

from next January.

It has not yet been reported how much the increases in public service rates will be, but the official intention is for them to be in line with inflation, as Martín Guzmán said on several occasions.

published weeks ago that it would be, for the average of users,

In banks, the commissions they charge have been

, even before the start of the coronavirus pandemic.

At that time, through Communication A 6912, it was established that for 180 days the banks could not apply increases in the commissions they charge to customers.

Thus, the increases that banks will be able to collect, of a maximum of 9% in January (and another 9% in February) for savings banks and for credit cards will be the first rise in almost a year.

As detailed in the statement, the update of the commissions reaches, in the case of

due to theft or loss, use of ATMs (outside homes operations of the entity, another entity and / or network) and fund extraction services through terminals at points of sale and cash withdrawals from the account by the owner or a third party.

In credit cards, increases in commissions will be given in the

replacement or reprint of card for theft or loss and additional cards.

"Financial entities may also order increases in commissions for other financial products and services, such as those related to the service of safe deposit boxes, with operations with securities and with the bank checking account," it was added in the statement of the BCRA.

So far this year,

(as of September), with rates frozen, recession through and the official dollar with limited movement.

The highest CPI could be registered in October.

Guzmán acknowledged that "it is going to be the most complicated month, due to different factors."

"Regulated prices were updated. In addition, there are seasonal issues with fruits and vegetables, a change of season that impacts the price of clothing and very bad weeks in the exchange gap. October is going to be the most complicated month in terms inflation, but it will be reversing by November, "he anticipated.

For this year, analysts predict that inflation will close at around 36.9%, while in 2021 they see an acceleration to 47.5%, according to the Market Expectations Survey (REM) prepared by the Central Bank .