Banks will have branches in supermarkets, pharmacies and petrol stations

In order to facilitate people's access to the banking system, the monetary authority approved on Tuesday a regulation (Communication A 6033) which sets the conditions for ensuring "Safe, transparent and efficient way" carrying out banking transactions, among others, such as opening an account, signing a term, obtaining loans or even the purchase of dollars, through complementary agencies, called correspondent banks, which can be established through agreements between entities and different networks of stores or businesses.

Measurement "It will particularly favor those who live far from bank branches and is part of a permanent goal aimed at strengthening financial inclusion"said the BCRA, which had already allowed the withdrawal of cash in supermarkets and other businesses, activities in full growth in recent months.

Sources from the monetary authority claimed that the new provision was "sufficiently flexible" for financial entities to be able to enter into the agreements they want with the stores, provided that they meet the standards of minimum security, which will be a "pure" responsibility. and exclusively banks. "

Among the "flexibilities" allowed by the standard, for example, companies can use their employees to provide banking services, while a company can seal agreements with more than one entity and banks, at their own expense. tower, may have more than one entity. an agent or a chain. Complementary agencies charge a fee for each transaction, to be determined with the bank.

In addition to the operations mentioned, transfers can be made; pay for services, taxes and credits; and extract and deposit money. In the latter case, and initially, the amount can not exceed the equivalent of a minimum living wage and mobile, now at $ 10,700, to reduce security risks or money laundering.

Countries such as Brazil, Mexico, Chile, Colombia and Peru have used this system a year ago and have shown that these correspondent banks allow to open new channels of access to the system. financial. In turn, correspondents minimize transaction costs, maximize financial intermediation and promote the formalization of the economy.

Although Argentina is currently at the level of the countries of the region in terms of bank branches and ATMs, there is a marked deficit in terms of access points (PDA) to the financial system (defined by the sum of branches , ATMs and correspondents). Banking). Our country has only 8 PDAs per 10,000 inhabitants (They also include self-service terminals and mobile branches), for example when they reach 33% in Colombia, 24 years in Brazil and 12 in Mexico.

For its part, the BCRA has emphasized that the opening of new points of access to the financial system would also improve the payment processes of the more than 14 million benefits paid each month by ANSES, in many cases in areas where : Access options to the banking system are difficult due to lack of branches. In addition, of course, and from the banks' point of view, competition will generate competition, which will help improve the efficiency and reduce the costs that customers face.

According to estimates by the BCRA, the banks 'testing in the agencies will begin early next year, without excluding that there are "a lot of tests and' s". errors ", which determines what should or can not be offered to each bank. On the other hand, it will be necessary to badyze the effect on employment in the banking sector, although, according to the BCRA, it is not affected by the data available in neighboring countries, but on the contrary, it will tend to increase alongside a financial system. growing