How will electronic control start to work in Argentina?

Electronic control consists of digitizing the traditional format, although its use is not mandatory. This new modality will be billed as a transfer, the recipient will receive it and can sign it immediately. to deposit it on your account. Or approve of it, as it is with paper.

As explained in last October's resolution (Communication A6578), the next 180 days will be in effect. This mandate will be filled in the last days of March.

How will a check be made?

"The requirement of signature will be satisfied if one uses an electronic method which guarantees without any doubt an externalization the will of the shooter and the integrity of the instrument, the reliability of the issuing transaction and its authentication as a whole (…) "In other words, it can be done by the bank at home, for example, and sent to a recipient, they may be "endorsed and / or endorsed in electronic form, provided that they are used for this purpose by mechanisms that meet the requirements of the preceding paragraph", says -he.

"Mechanisms must be adopted – either on their own or through third parties – that are necessary for Customers can drop or remove at the window "eCheq," he adds.

According to La Nación, Jorge Larravide, commercial director of LINK, who participates in the table of innovations of the BCRA, elaborated the eCheq "it will be a feature of an app, a home-based bank and all that would be equivalent to the written signature is valid on this platform: user, with pbadword, coordinates or token. Instead of issuing a transfer, you issue an electronic check. And then you sign electronically, "he explains.

"A company that has a checkbook, disappears and until it realizes that it is missing there may be a lot of outstanding checks on behalf of the company. And above, there is a tedious process to report these checks as stolen, "says Larravide.

"This form of electronic checks will also prevent fake checks", says Rosario Flores Vidal, product manager of Banco Industrial, one of the entities that will have this service.

"For example, the probability of issuing checks with formal errors that are subsequently rejected is reduced by half, or their negotiation or deposit is facilitated without physical presence," adds Pablo García Arabehety, Systems Manager, BCRA.

At the same time, for users, especially those who bill in this format, there could be another benefit: "There are vendor areas that serve for limited hours, such as Friday from 12 to 13 hours.. As this is an electronic modality, it could circulate seven days a week, "says Larravide.

"In the international investigation conducted by BCRA at the research and development stage, no electronic control of these features has been identified, and the" electronic checks "of countries such as the United States or Hong Kong operate as simple transfer orders. the possibility of deferred payment being formalized, the check is not only a means of payment but also a financing instrument, especially for SMEs, "says Arabehety.

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