Removing the old regulation will now allow banks to open "mini-branches" in different stores, in which they can offer all services from the usual head office: deposits, withdrawal of money, opening of accounts, processing of loans, opening of fixed deadlines or request for insurance.
The resolution was released Tuesday by the Central Bank and will allow each financial institution to negotiate with businesses from almost every area of the opening a separate window for banking procedures. They will be able to offer almost all services to a large branch, although there will be only a limitation when it comes to making deposits, as only will be allowed up to an amount equal to the vital and mobile minimum wage (today from $ 10,700), for security reasons.
The model is inspired by the functioning of this type of consequences of the banking system that has been operating in neighboring countries such as Chile, Brazil, Peru and Colombia for years and will pinpoint the sources of monetary authority facilitate access to banks in small towns, which usually have large bank branches away.
The mechanism will work from an agreement that each bank will do with each trade. Entities will conduct studies to assess the economic suitability for the eventual opening of this mini-branch and in case it is progressing with its implementation, must pay a commission, for free negotiation between the two parties, which is generally paid through an open account or with an approved loan.
There will be no requirement for exclusivity: each bank will be able to connect with different businesses and every trade can have windows of different banks. The security and operational responsibility of each mini-branch will, in any case, be the responsibility of the financial entities.
Since this is a new experience in the country, some things are still not clear on how the new modality will function. It could include or not be a physical space other than that of the trade (different window) and the end of the ATM. Customers will not have any additional costs to work in this type of agency.
Continuing the banking reach can also mean break with layout scheme Typically for these services, which is 10 to 15. While the authorities of the Central Bank could not confirm this, the gradual implementation of the new model would "tended" to eliminate this limitation.
The stores, of course, will be obliged to display two stickers in their stained glass windows. One of the Central Bank and one from each bank related to that trade. Financial institutions must also publish on their websites each of the authorized bank correspondents.
There is a point that promises controversy with the banking unions. New mini-subsidiaries can be served by the staff of the trade instead of the employees of the bank. Central sources have defended themselves confirming that "international experience shows that the more points for banking access, the amount of employment in the sector does not decrease, but increases".
According to what the Central Bank said, "opening up these access points to the financial system will also enable the improvement of payment processes of more than 14 million benefits Anses performs every month, in many cases in areas where are difficult options for accessing the banking system. "
Official sources estimate that the new scheme can be applied by next year. Companies at this time of the year usually closed their investment plan for the next year, but the banks have for some time demanded regulation of this style, so they could begin to implement it in the medium term.