Banking and payments in Argentina: accounts, transfers, cards and cross border flows

Key rules

1. Who may take deposits and offer accounts

• Financial entities. Law 21.526 covers public and private persons that habitually intermediate between the supply and demand of financial resources (art. 1). Only entities under this law may take deposits. They may not disclose their liability operations (art. 39, bank secrecy), with the exceptions listed there, including requests from courts and from the tax authority.
• Savings accounts may be offered by commercial banks, finance companies, credit cooperatives and savings and loan companies for housing (Depósitos de ahorro, point 1.1).
• Payment service providers (PSP) are legal persons that, without being financial entities, perform at least one function in a retail payment scheme (Proveedores de servicios de pago, point 1.2.1). The BCRA regulates by function: banks and PSP that do the same thing follow the same rules (point 1.1).
• PSP functions include providing payment accounts, accepting merchants for transfer payments, initiating payments (wallets), running ATM and transfer networks, card acquiring, aggregation or sub acquiring and off bank collection of taxes and bills (point 1.4). PSP performing those functions must register in the Registro de proveedores de servicios de pago kept by the Superintendency of Financial and Exchange Entities (SEFYC) (point 2.1).
• Who cannot be a PSP. Legal persons not regularly incorporated in Argentina, foreign companies that have not complied with the Companies Law 19.550 to act habitually in the country, and entities recognised by the CNV as markets, clearing houses or agents (point 1.3.1). Persons barred under Law 21.526 art. 10, convicted of listed crimes, or listed in terrorism financing registers cannot be shareholders, directors or controllers (point 1.3.2).
• Sanctions. Registered PSP and their directors are subject to the sanctions of Law 21.526 arts. 41 and 42 (point 1.5).

2. Accounts for companies

Current account (Reglamentación de la cuenta corriente bancaria). The bank must collect for legal persons: name, real, legal and special domicile (the special domicile must be in Argentina and governs all legal effects, including those of cheques), date of the bylaws, corporate object and term, registration date and number, CUIT obtained electronically from the tax authority, and the list of officers and authorised signatories, each identified as an individual (point 1.3.2). For individuals the bank collects full name, date and place of birth, marital status, occupation, real and special domicile, CUIT or CDI and CUIL obtained electronically, identity document and the PEP or non PEP sworn statement (point 1.3.1).

• Registered instrument by electronic means. The requirement to present the registered bylaws is met when the bank obtains the copy directly from the competent Public Registry in electronic or digital form (point 1.3.2.4).
• SAS fast track. For an SAS only the registered instrument and the CUIT certificate are required, and the account must be operational on the next banking day after both are provided (point 1.3.2).
• Foreign companies. If registration in the Argentine Public Registry is not required because the company does not habitually trade in Argentina, the bank may accept proof of registration with the competent Argentine supervisory body for its activity. Foreign firms that meet neither condition can only open accounts to the personal order of their members or legal representatives (point 1.3.2.4).
• Joint ventures (UTE). The account is in the name of all participating companies and to the order of the representative (point 1.3.3).
• Banned holders. The bank must check the BCRA register of disqualified current account holders (Central de cuentacorrentistas inhabilitados) and whether the person owes fines under Law 25.730 for rejected cheques (point 1.4.4).
• Currency. The account operates in pesos or US dollars. A dollar current account can only issue electronic cheques (ECHEQ), and any overdraft is subject to the credit policy rules (point 1.4.3).
• Reasonableness. Banks must check that account movements are reasonable for the declared activity (point 1.4.1).

Special current account for legal persons (Depósitos de ahorro, point 3.4). Any financial entity may open it. Minimum data: name, real and legal domicile, copy of the bylaws, registration date and number and list of officers and authorised representatives (point 3.4.2). The same SAS fast track applies. It may be held in pesos, US dollars, euros, yuan or other authorised currencies (point 3.4.4). Foreign financial investors that qualify under point 3.8.2.2 may open one only for the operations allowed in the special investment account (point 3.4.2, last paragraph).

Special investment account (point 3.8, UIF Resolution 4/17). This account is for financial sector investors only:

• domestic legal persons that are UIF reporting entities in financial activity, registered with IGJ or the local Public Registry and ARCA and supervised by the BCRA or the CNV (point 3.8.2.1); and
• foreign legal persons of financial activity supervised for AML purposes in a jurisdiction that the FATF does not list as non cooperative or high risk, whose supervisors have cooperation agreements or memoranda with the BCRA or the CNV (point 3.8.2.2).

The investor files proof of identity, ownership and control structure and authorisation, legal domicile, email, an authenticated copy of the bylaws, proof of registration (or, for foreign companies that do not trade habitually in Argentina, a sworn statement that their activities in the country are not permanent) and the list of officers and authorised representatives (point 3.8.3). Documents may be sent electronically or by post; foreign language documents need a translation by an Argentine sworn translator, and foreign documents must be notarised and legalised or apostilled; within 60 calendar days of opening, authenticated copies of everything sent electronically must be delivered (point 3.8.3). The holder reports its CUIT, CDI or CIE (Clave de Inversores del Exterior) (point 3.8.4). Credits only by traceable electronic transfer; debits only to buy public or private securities and BCRA instruments, to transfer to own accounts and to repatriate, plus fees (points 3.8.7 and 3.8.8). Statements are sent by email at least every four months (point 3.8.12). The bank closes it with at least 30 calendar days' notice (point 3.8.13.2).

Accounts that a non financial foreign company can use. The source texts give a non financial foreign parent three routes: register a branch or the shareholding in Argentina and open an ordinary current account (point 1.3.2.4); open an account to the personal order of its legal representatives (same point); or operate through its Argentine subsidiary's own account. The special investment account is not available to it because it is limited to financial activity investors (point 3.8.2.2).

Exporters. The special exporter accounts of point 3.13 are peso accounts tied to the 2022 and 2023 export incentive programmes (Com. A 7571, A 7649, Decrees 194/23 and others), with credit windows that have closed (points 3.13.3.1 and 3.13.3.2). They are of historical interest only (unconfirmed).

3. Accounts for individuals and expats

• Savings account (caja de ahorros). For individuals able to contract or to dispose freely of the product of their lawful work (point 1.2). Minimum data: full name, place and date of birth, domicile, occupation, marital status and PEP status (point 1.3). The identity document under the BCRA rules on "Documentos de identificación en vigencia" proves name, birth and domicile, and a sworn statement covers occupation, marital status and PEP status; updates may be made online (point 1.3). The rules on valid identity documents for foreigners are not in the source files (unconfirmed).
• Tax ID. The bank must obtain electronically from ARCA the CUIT or CDI, and from RENAPER or ANSES the CUIL (or a copy of the back of the DNI that shows it) (point 4.2). A foreigner without a CUIT or CUIL therefore needs a CDI (Clave de Identificación) before opening an account. The ARCA procedure to obtain a CDI is not in the source files (unconfirmed).
• No bundling. Opening a savings account cannot be conditioned on buying any other product or package (point 1.4).
• Currencies. Pesos, US dollars, euros, yuan renminbi and others the BCRA authorises (point 1.5).
• No overdraft. Movements cannot create a debit balance (point 1.7.5).
• Free services in a peso savings account: opening and maintenance, one debit card (or another electronic means if none is requested), operations at the issuing bank's own ATMs and self service terminals, and home banking (point 1.8).
• Interest is freely agreed (point 1.9.1).
• Remote opening is allowed if the bank can fully apply AML and know your customer rules and secure the documents (point 4.16.1). For legal persons opened remotely, the bank must verify the representative's identity and powers and the company must deliver, within 60 calendar days, a certified copy of the registered bylaws unless the bank obtained it electronically from the Registry (point 4.16.1.3).
• Counter service. Individuals may not be charged for teller operations, and cash deposits in pesos by individuals and by micro, small and medium enterprises (Mipyme) are free (point 4.11; Protección de los usuarios de servicios financieros, point 2.3.2.2(ii)(a) and (b)). The free rule covers cash in pesos; it does not mention dollar cash (unconfirmed).
• Inactive accounts. A bank may close an account with no movements by the holder or no balance for 730 calendar days, after at least 30 calendar days' notice; fees can only be charged up to the balance (point 4.8). Closed balances go to saldos inmovilizados, where fees require 60 days' notice and cannot be charged on employment or social security money (point 4.6).

4. The payroll account (cuenta sueldo)

• Legal basis. Law 27.802 art. 35 (BO 6 March 2026) replaced LCT art. 124: cash remuneration must be paid, under penalty of nullity, only by credit to an account in the worker's name at a bank or an official savings institution, called cuenta sueldo, with no withdrawal limits and no cost to the worker for opening, maintenance or withdrawals anywhere in the banking system. This reverses the wider wording introduced by DNU 70/2023 art. 72, which had allowed cash, cheques and accounts at other entities the payment system authority considered suitable (unconfirmed).
• Who opens it. Banks with ATMs must open payroll accounts at the employer's request; workers may also open one themselves, or convert their own peso savings account (or dollar savings account, if wages are paid in dollars) into a payroll account, and must then give the CBU to the employer (BCRA, Depósitos de ahorro, point 2.1).
• Data. The employer provides name, CUIL and domicile of each worker (point 2.2.1). The account may be in pesos or dollars depending on the wage currency (same point).
• Credits allowed: wages and other employment related amounts, family allowances, social security and work risk benefits, tax and commercial refunds, health reimbursements and loans (point 2.3.1).
• No cost. No charges for opening, maintenance, movements or balance enquiries, including at other banks' ATMs, up to the amounts credited from the employment relationship (point 2.6). The worker may transfer wages to another account of their choice (point 2.2).
• ATM withdrawals at any ATM in the country, with no amount limit except operational or security limits (point 2.3.2.1). Separately, all ATMs must allow any person to withdraw at least ARS 60,000 (US$ 38) per day in one operation, whatever the account type or network (point 5.2).
• Bank tax. Credits in savings or current accounts up to the amount credited as wages, and debits up to that amount, are exempt (Law 25.413 art. 2(c); Reg. art. 10(h)). The employer's debit to pay the salaries is not exempt.

5. CBU, CVU and alias

• Each instant transfer scheme must run an account lookup service, updated in real time and available to other schemes, that shows at least the account holders, the CBU, CVU and alias, the currency, the CUIT, CUIL or CDI and whether it is a judicial account (normas complementarias, point 2.4).
• The lookup is used to avoid misdirected transfers and to confirm that the destination account is enabled when the transfer is authorised (Transferencias, point 2.2.10).
• Payment accounts are provided by PSPCP and identified by CVU; the provider's bank (the "sponsor bank" reported on registration) holds the money in the provider's collection account and the PSPCP then credits the client's payment account (traspaso) (normas complementarias, points 1.3.11 and 1.4.7; Proveedores de servicios de pago, point 2.2.2.11(i)).
• Rules on how an alias is created, changed or ported between providers are not in the source files (unconfirmed).

6. Transfers

Instant transfers (Transferencias, Section 2).

• All financial entities and all PSPCP must offer instant transfers (point 2.2.1), at least through ATMs, mobile banking and internet banking (point 2.2.2).
• Available 24 hours a day, every day of the year (point 2.2.3), with operational availability of at least 99.92% of the time (point 2.2.15).
• Settlement time: no more than 15 seconds, including confirmation or rejection messages to both clients (point 2.2.12).
• Currencies: pesos and US dollars, between accounts of the same currency (point 2.2.9).
• Minimum limits: each account must be able to send at least the amounts in Section 6 of the complementary rules without special request; banks may raise but not lower them (point 2.2.4). Holders may request a temporary higher limit (transferencia inmediata por monto superior, TIS) remotely at any time or in person, and the bank cannot require more than one business day of notice. The TIS must also be available for paying ARCA electronic payment slips (VEP) (point 2.2.4).
• No authorisation against expected funds. The provider may authorise only on the available balance (plus pre agreed credit lines for bank accounts), never on expected credits (point 2.2.14).
• Information to the client: amount, date, name (or trade name) and CUIT, CUIL or CDI of the counterparty and the transfer reference; the phrase "salvo error u omisión" cannot be used (point 3.2.1). For payroll, pension, family allowances, wage garnishments and supplier payments, the ordering bank shows the total debit and agrees with the client how to report the detail (point 3.2.2.1).
• Mandatory reference codes. Transfer screens must let the client pick a concept, including rent (ALQ), capital contributions (APC), invoices (FAC), wages (HAB), fees (HON), real estate (OIN, OIH), loans (PRE) and others (point 3.1.2).
• Fraud delays. Until schemes adapt to the new rejection rule, banks may defer a transfer they consider inconsistent with their security parameters until 18:00 the same day (if ordered before 13:00) or 13:00 the next business day, or reverse it if the inconsistency is detected later (point 4.2).

Push, pull, PCT and cash out (normas complementarias, Section 3). The instant transfer modalities are push transfers (sending funds), pull transfers (requesting funds), payment with transfer (pago con transferencia, PCT), in person or remote, and cash withdrawal with transfer (extracción con transferencia, ECT) at merchants (point 3.1).

• Pull transfers between own accounts can be authorised once, at enrolment, using the CIMPRA "Transferencias 3.0" consent standard based on OAuth2, or tacitly when the bank is certain that both accounts belong to the same holder (point 3.4.3.1). The account provider that receives fraudulent funds must return them; the client has 60 days to dispute a pull debit and must be refunded within 3 business days (point 3.4.3.2). Pull transfers do not apply to current accounts of legal persons, special current accounts of legal persons, judicial accounts, special investment accounts, exporter accounts and other special accounts (points 3.4.2 and 3.4.3.3). Single authorisation is not allowed for collecting loan instalments (point 3.4.1.2).
• Naming rule. Client screens and confirmations cannot use the terms "DEBIN" and "CREDIN" (or similar) to identify pull and push transfers or other modalities (point 2.5).
• Rejection. A receiving entity may reject an instant transfer only if its account database failed to update (point 2.9).

DEBIN (Sistema Nacional de Pagos: Débito inmediato). The DEBIN is the scheme name for an immediate debit request authorised by the payer, used for one off payments (spot) or recurring payments, including a "DEBIN programado" for fixed instalments (point 1.1). Key rules:

• Available to individuals and legal persons holding bank or payment accounts (point 2.1), in pesos and dollars between same currency accounts (point 2.3), 24 hours a day with immediate credit (point 2.4).
• Cost: the debit to the payer is free; the receiving side cannot charge for the credits; only the originating entity may charge the ordering client, and must disclose it first if the client is a consumer. For recurring DEBIN, the receiving entity may charge the originating entity an interchange fee of up to 0.3% per operation, capped at 0.12 UVA (about ARS 247 at 31 July 2026) (point 2.5).
• Disputes: 30 days to dispute a recurring DEBIN debit, with automatic refund within 72 business hours and an automatic chargeback; one off DEBIN cannot be disputed (point 2.6).
• Prohibitions: recurring DEBIN cannot be used to collect loans, and DEBIN programado cannot be used by gambling businesses (point 1.1.3).
• Mandatory warning: notices of a one off DEBIN must display, in prominent type, that accepting will take funds out of the account and that it is never necessary to authorise anything to receive payments (point 2.7).

Batch transfers and MEP. Batch transfers (transferencias en lote, Transferencias Section 1) are typically used for payroll and supplier files. Retail transfers through the BCRA's Medio Electrónico de Pagos (MEP) also exist (normas complementarias, point 6.2). Note that "MEP" in this sense is the BCRA interbank payment system, not the dólar MEP exchange rate obtained by buying and selling securities.

Direct debits. The débitos directos scheme is a separate text (Sistema Nacional de Pagos: Débitos directos). In savings accounts, the holder must expressly consent to debits before the account opens (Depósitos de ahorro, point 1.10), and automatic debits can be reversed under point 1.11 (unconfirmed).

7. Pricing of transfers

The complementary rules set two business models (normas complementarias, point 5.1.2):

• "The ordering client pays" applies to all transfers except PCT. Transfers are free for the ordering client when: (a) ordered by a microenterprise up to the monthly free tier; (b) the ordering and receiving client are the same person; (c) to or from judicial accounts; (d) the ordering client is a financial services user, that is, a consumer under the BCRA consumer protection rules (point 5.1.2.1). Prices may never be a percentage of the amount transferred (points 6.1.2, 6.2.2 and 6.3.2.2). Banks may also pass on taxes and withholdings and charge for bulk upload services not tied to amounts (Depósitos de ahorro, point 4.10.1).
• "The receiving client pays" applies to PCT. The acceptor (the merchant's provider) charges the merchant and pays an interchange fee to the payer's account provider (point 5.1.2.2). A small merchant pays nothing for its first three full calendar months, up to 1,000 UVA (about ARS 2,058,000, US$ 1,316) or US$ 1,000 a month (points 5.1.2.2(iii) and 6.3.1.1).
• Merchant price band for PCT: 0.6% to 0.8% of the final sale price for all three categories (point 6.3.1.2). The interchange share and the split of the per transaction processing price depend on the merchant's monthly PCT collections (table below). The category is set on the previous month's PCT collections, and initially on the previous month's debit card collections (points 6.3.1.3 and 6.3.1.4).
• No bundling. Acceptors that also offer cards must quote the PCT price separately from other instruments, to avoid cross subsidies (point 5.2.4; Transferencias, point 2.3.4.1).
• Dollar transfers. For fees on transfers in dollars or euros, banks use the Banco de la Nación buying rate of the second business day before, and charge the fee in pesos from the client's peso account, or in the transfer currency if there is no peso account or balance (Depósitos de ahorro, point 4.10.1).

8. QR interoperability ("Transferencias 3.0")

"Transferencias 3.0" is the BCRA programme launched by Com. A 7153 (30 October 2020) that created the interoperable instant transfer framework, now in the complementary rules (normas complementarias, correlation table; Decree 380/2001 Annex art. 10, unnumbered inciso added by Decree 796/2021).

• Open ecosystem. Each instant transfer scheme must interoperate with the others so that any participant can send to any receiving entity on the same terms (normas complementarias, points 1.2.6 and 1.5.5.4).
• Every QR is readable by every wallet. Scheme administrators cannot let an acceptor take QR initiated PCT unless the codes can be read by all financial entities and PSP registered as interoperable digital wallets (point 1.5.5.11). Banks and PSP that offer QR reading must read the QR of any passive payment request, without discrimination (point 3.2.4.5).
• Passive and active requests. A QR displayed by the merchant is a passive payment request; an active request is sent by the merchant to a specific alias, CBU or CVU (points 3.2.4.2 and 3.2.4.3). PCT can also be initiated by the acceptor with card credentials, but the payer must choose PCT explicitly and receipts must show it (point 3.2.2.2).
• Refunds are made by a new reverse instant transfer, which acceptors must make available to merchants (point 3.2.1.4). Statements must show "Pago con Transferencia" or "Compra con Transferencia" (Transferencias, point 3.2.3).
• Standardised payments interface (IEP). A common API layer for all schemes, moving gradually to ISO 20022 (normas complementarias, Section 4).
• Acceptor registration. A PSP registering as acceptor must file a certificate from the scheme administrator that it has integrated with every wallet in the interoperable wallets register and that its QR codes are usable by the public (Proveedores de servicios de pago, point 5.1.1).
• Bank tax. The accounts used by scheme administrators, acceptors and operators to receive and send funds of Transferencias 3.0 operations are exempt, but not the accounts these participants use for their own transactions such as payroll or suppliers (Reg. art. 10, unnumbered inciso added by Decree 796/2021 art. 6). The merchant's own account is taxed as usual.

9. Payment service providers and wallets

• Registration procedure. The PSP logs in to the ARCA website with the company's fiscal key to obtain a user and password and files electronically through the BCRA application, attaching the registered bylaws (whose corporate object must explicitly include the payment services), company data, the legal representative, the data security officer, the payment systems oversight officer, the reporting officer, the UIF compliance officer (if it is a UIF reporting entity), an operational and commercial description of each function, and the shareholders with at least 10% of capital or votes, final controllers and directors, with sworn statements, PEP statements and criminal records certificates issued within 5 business days before filing (Proveedores de servicios de pago, points 2.2 to 2.2.2.12). Sworn statements must be signed with a digital signature under Law 25.506, and the PSP accepts federal courts of Buenos Aires City (points 2.2.3 to 2.2.5).
• Timeline. The BCRA notifies deficiencies within 10 business days; the applicant has 20 business days to cure them or the file lapses; once complete, SEFYC issues a certificate and an RPSP number, which is necessary to operate; operations must start within 12 months of the certificate (point 2.3). Only one registration may be processed at a time; a new function can be filed only after the previous certificate is issued (point 2.2).
• For a PSPCP, the description must name the sponsor bank or banks, the services, the terms of use, how funds are returned, and whether it will act as "PSPCP como Servicio" for third party brands (point 2.2.2.11(i)).
• Client funds. Funds credited to payment accounts must be available immediately and at all times for at least the amount credited, identified per client (point 4.1.1). 100% must be deposited at all times in peso demand accounts at Argentine financial entities; at the client's express request, balances may be invested in money market funds, reported separately (point 4.1.2). The PSPCP's own payments (suppliers, salaries) must go through a separate operating account (point 4.1.3).
• Mandatory disclosure: PSPCP must state in all advertising and documents that they only offer payment services, are not authorised to operate as financial entities, and that funds in payment accounts are not deposits and have none of the guarantees of deposits (point 4.2).
• Payment accounts are peso accounts (point 1.4.1). The source texts do not provide for dollar payment accounts.
• Crypto. PSPCP cannot carry out or facilitate operations with digital assets, including crypto assets, that are not authorised by a competent national regulator or the BCRA (point 4.6).
• White label wallets ("PSPCP como Servicio"). The third party brand's clients are clients of the PSPCP, which remains fully responsible; the balance screen must show the PSPCP's trade name (point 4.5).
• AML. PSP that are UIF reporting entities follow the BCRA text on prevention of money laundering (Section 7).
• Bank tax. Payment accounts are within the bank tax at 0.6% on credits and debits, with the doubled rate on cash withdrawals except for individuals and micro and small enterprises; PSP act as collection agents (Reg. arts. 5(b) and 7, as amended by Decree 301/2021). Payment accounts of individuals used only through mobile or electronic means are exempt (Reg. art. 10, unnumbered inciso added by Decree 301/2021). See taxes/bank-tax, section B.

10. US dollar accounts and cash

• Dollar accounts. Savings accounts, special current accounts for legal persons and current accounts can be held in US dollars (Depósitos de ahorro, points 1.5 and 3.4.4; cuenta corriente, point 1.4.3). Payroll accounts may be in dollars if that is the wage currency (point 2.2.1).
• Dollar cheques only as ECHEQ from a dollar current account (cuenta corriente, point 1.4.3).
• Dollar transfers. Instant transfers and DEBIN work in dollars between dollar accounts (Transferencias, point 2.2.9; Débito inmediato, point 2.3). The minimum daily push limit is US$ 12,500 per account, and the monthly free tier for microenterprises is US$ 6,000 per provider (normas complementarias, points 6.3.2.3 and 6.1.1).
• Dollar cash in payroll accounts. Cash deposits and withdrawals in dollar payroll accounts must be served at the branch where the account is held, and at other branches through ATMs and terminals if the bank has dollar cash available (Depósitos de ahorro, point 2.3).
• Cash deposits and AML. For cash deposits of 20 minimum living and mobile wages (Salarios Mínimos, Vitales y Móviles) or more, the bank must identify the depositor and record whether the deposit is on their own account or for a third party (UIF Resolution 14/2023 art. 42). The current minimum wage amount is not in the source files (unconfirmed).
• Bank tax on cash. Cash withdrawals from accounts of legal persons that are not micro or small enterprises bear the tax at 1.2% instead of 0.6% (Law 25.413 art. 1, second paragraph, added by Law 27.541 art. 45). The peso base used for foreign currency movements is not specified in the sources (unconfirmed).
• Buying dollars. Access by resident individuals and companies to the MLC is covered in fx/exchange-controls.

11. Cheques and ECHEQ

• Law. Cheques are governed by the Cheques Law 24.452 (BO 2 March 1995). A cheque issued in Argentina must be presented within 30 days of its date; one issued abroad and payable in Argentina, within 60 days; if the term ends on a non banking day, the next banking day counts (art. 25). A deferred payment cheque (cheque de pago diferido) is an order to pay at a fixed later date, drawn on a current account, with a payment date of no more than 360 days (art. 54, as replaced by Law 24.760). Deferred cheques can be guaranteed by the bank (art. 54) and transferred by endorsement (art. 56).
• ECHEQ. Electronic cheques follow the general rules for ordinary or deferred cheques where compatible (cuenta corriente, point 3.5.1). The signature requirement is met by any electronic method that unequivocally expresses the drawer's will and the integrity of the instrument, previously accepted by the account holder by agreement (point 3.5.2). ECHEQ can be endorsed and guaranteed electronically (point 3.5.2). The holder presents it for collection from the payment date by electronic credit order or at the counter (point 3.5.3). All banks that offer accounts admitting cheque deposits must allow clients to deposit ECHEQ (point 3.5.1). The bank tells the drawer the total ECHEQ amount authorised and the amount available (point 1.4.6).
• Market trading. Deferred cheques can be traded on securities markets if the drawer requests chequebooks with the legend "Negociable en Mercados de Valores (Dec. 386 del 10.7.03)" and releases the bank from secrecy (point 4.1).
• Rejection fines. Rejection for formal defects or insufficient funds of ordinary or unregistered deferred cheques, and refusal to register a deferred cheque, generate a fine of 4% of the rejected amount, with a minimum of ARS 100 and a maximum of ARS 50,000 (US$ 32). It drops to 2% (minimum ARS 50, maximum ARS 25,000) if the cheque is paid within 30 calendar days of rejection. Fines on dollar ECHEQ are converted at the Com. A 3500 reference rate on the payment date. The bank debits the fine from the account (point 6.5). These peso amounts come from Law 25.730 and have not been updated in the BCRA text (unconfirmed). Unpaid fines put the drawer in the BCRA register of disqualified holders (points 6.5.2.3 and 8.2).
• Bank tax. Cheques do not qualify for the own account transfer exemption (Reg. art. 10(b), "except cheques"), and depositing third party cheques for collection into a savings account is taxed at 12‰ (RG 2111 Annex X, A.6, as summarised in taxes/bank-tax).

12. Card acceptance and acquirer settlement

• Card law. Law 25.065 (BO 14 January 1999) governs credit, purchase and debit card systems. DNU 70/2023 (BO 21 December 2023) repealed arts. 5, 7, 8, 9, 17, 32, 35, 53 and 54 and replaced arts. 1, 2(a), 4, 15, 18, 22, 25 and 38 (DNU 70/2023 arts. 14 to 23). The issuer must publish its financing rate (art. 15, as replaced). Interest charged to cardholders cannot exceed by more than 25% the issuer's personal loan rate (art. 16).
• Merchant obligations. The merchant (proveedor) must accept cards that comply with the law, verify the cardholder's identity, not charge different prices for cash and card, and request authorisation in all cases (art. 37).
• Merchant contract. The standard contract between issuer and merchant must set at least the term, maximum amounts per operation, the type and amount of commissions, interest and administrative charges, the obligations under the law, the term and requirements for presenting settlements, the vouchers and the duty to check the card before each sale (art. 38, as replaced by DNU 70/2023 art. 23). The law itself no longer sets a maximum merchant fee or a maximum settlement term in the source text; any current BCRA limits on merchant discount rates or settlement days for credit and debit cards are not in the source files (unconfirmed).
• Acquirers and aggregators must register as PSP (Proveedores de servicios de pago, points 1.4.7, 1.4.8 and 2.1) and disclose fees and settlement terms in their registration (point 2.2.2.11(v) and (vi)).
• Taxes on card settlements. Payments by financial entities to merchants adhering to card systems are a taxable event at 12‰ unless credited to the merchant's current account (Reg. art. 3(e) and art. 7); credited to the current account, they bear the ordinary 6‰ on the credit. Card processors also withhold provincial gross income tax under SIRTAC (see taxes/gross-income) (unconfirmed).

13. Cross border payments through the MLC

The full regime is on fx/exchange-controls. The rules that matter for the bank side of a payment are these (BCRA, Exterior y Cambios, consolidated text to 14 September 2026, last communication A 8481):

• Information in incoming and outgoing transfers. Transfers with the exterior must carry the payer's full name or company name, domicile or DNI or CUIT, CUIL, CDI or CIE, client number and account number or IBAN, and the beneficiary's name and transaction number (point 5.5.1). Transfers with incomplete data must be kept pending conversion or credit until completed (point 5.5.4). This is a frequent cause of "stuck" payments.
• Notice to the beneficiary. Banks must inform the beneficiary within one business day after the funds reach their correspondent account and make them available for conversion or credit to a local foreign currency account (point 5.6).
• Crediting dollars to a dollar account. Banks may perform swaps and arbitrages linked to incoming funds unless they relate to an operation that had to be converted and whose term has expired; they must allow incoming funds to be credited to the client's foreign currency account, crediting the same amount received when the currency matches (point 2.8).
• No commission for resident individuals receiving foreign currency into their own foreign currency account; only documented foreign bank charges may be passed on at cost, and any permitted fee must appear as a separate item (point 2.8).
• Services exports by companies: convert within 20 business days of collection abroad or in Argentina, or of credit to a foreign account; habitual foreign bank charges count as converted (point 2.2.1).
• Services exports by individuals: no conversion needed if credited to the individual's own foreign currency account at a local bank and the result is tax neutral; the bank registers two tickets with no peso movement and may not charge commissions (point 2.2.2.1).
• Simultaneous application: funds that should be converted may instead stay in a local foreign currency account and be applied at once to an outflow with MLC access (point 2.7, summarised in fx/exchange-controls).
• Identification for FX operations: in person with a valid identity document, or by electronic or digital signature or the bank's authentication methods online (point 5.4).

14. Deposit insurance (SEDESA)

• System. Law 24.485 (BO 18 April 1995) created a deposit guarantee system that is limited, compulsory and paid for by the banks, subsidiary and complementary to the depositor privileges in the Financial Entities Law (art. 1). Decree 540/1995 regulates it: SEDESA (Seguro de Depósitos S.A.) administers the Deposit Guarantee Fund (FGD), funded by monthly contributions of the banks (arts. 6 to 10 bis).
• Covered deposits: current accounts, demand accounts at credit cooperatives, savings accounts, fixed term deposits, payroll and special accounts, term investments and dormant balances from them, in pesos and in foreign currency (BCRA, seguro de garantía, point 5.1).
• Excluded: paper transferable deposits acquired by endorsement; deposits at rates above the BCRA reference rates (demand deposits above the reference rate; time deposits above the higher of 1.3 times the reference rate or the reference rate plus 5 percentage points); interbank deposits; deposits of persons related to the bank; fixed term deposits of securities, acceptances or guarantees; dormant balances from excluded deposits; and CEDIP transferred after the bank is suspended or restructured (point 5.2). Payment accounts at PSPCP are not deposits and are not covered (Proveedores de servicios de pago, point 4.2.2).
• Amount: capital, interest, CER or ICC adjustments and exchange differences accrued until the revocation (or earlier suspension) date, up to ARS 50,000,000 (point 5.3.1). Joint accounts share one limit, split pro rata (point 5.3.2). The total for one person across all accounts at the same bank cannot exceed ARS 50,000,000 (point 5.3.3). The limit applies equally to individuals and legal persons (Decree 540/1995 art. 15). Foreign currency deposits are converted at the reference rate of the revocation date (point 5.3.1).
• Timing: payment within 30 business days after revocation of the bank's licence, if the depositor meets the requirements and the fund has resources; if resources are short, pro rata payment and the balance within 30 days after resources are available; no interest for the period between maturity and payment (Decree 540/1995 art. 17). SEDESA may ask depositors to prove the origin of funds (point 5.3.5).
• Legend. Every deposit document must show the coverage legend, including the ARS 50,000,000 limit, or "Depósito sin garantía" when excluded (point 6).
• Depositor privilege beyond insurance. In a bank liquidation, deposits have a general priority over other creditors (except secured creditors and certain labour claims): first, deposits up to ARS 50,000 per person, then the excess (Law 21.526 art. 49(e)). That ARS 50,000 figure is the statutory text and has not been updated (unconfirmed).

15. Garnishment and account freezes

• Tax garnishment. In tax enforcement suits, ARCA's representative may ask for a general attachment of bank accounts and of funds and securities of any kind deposited in financial entities, up to the amount claimed, and other precautionary measures; banks must inform ARCA immediately of the result, and bank secrecy does not apply (Law 11.683 art. 92). The taxpayer may offer the attached sums in payment; ARCA then asks the bank to transfer them, and measures must be lifted within 5 business days after the debt is cancelled (same article). Notices of precautionary measures may be served at the electronic tax domicile (same article). Law 27.826 (BO 9 October 2026) may have amended Law 11.683; whether art. 92 changed is not checked for this page (unconfirmed).
• Preventive attachment. At any time, for justified reasons and under its responsibility, ARCA may request a preventive attachment or general inhibition for the amount presumably owed; it lapses if ARCA does not start enforcement within 300 judicial business days of each measure (Law 11.683 art. 111).
• Wages. The minimum living wage is unattachable in the proportion set by regulation, except for alimony; remuneration above that is attachable in the proportion set by the Executive (LCT arts. 120 and 147). The implementing decree and current percentages are not in the source files (unconfirmed). BCRA transfer rules list "garnishments on wages by court order" as a separate concept the bank reports (Transferencias, point 3.2.2.1).
• Bank liquidation. After a bank's licence is revoked, creditors cannot start or continue enforcement against its assets, except for mortgages, pledges and labour claims, and existing attachments move to the proceeds of sale (Law 21.526 art. 49(a)).
• Judicial accounts. Court deposits go to cuentas a la vista para uso judicial (Depósitos de ahorro, point 3.6); transfers to or from them are free (normas complementarias, point 5.1.2.1(ii)(c)) and the receiving bank must check that the destination is a judicial account (Depósitos de ahorro, point 4.10.2).
• Civil and commercial court attachments follow the National Code of Civil and Commercial Procedure, which is not in the source files (unconfirmed).

16. Consumer protection and fees

• Who is a "user". The BCRA consumer rules protect individuals and legal persons acquiring financial services for their own benefit or that of their family or social group, as final consumers (Protección de los usuarios de servicios financieros, point 1.1.1). A company using banking for its business is in principle outside the free transfer rule for "users" (normas complementarias, point 5.1.2.1(ii)(d)) (unconfirmed).
• Fees must reflect real costs. Commissions and charges must have a real, direct and demonstrable cost, be technically and economically justified and relate to services actually requested and provided; third party charges are passed on at cost (point 2.3.2.1).
• Forbidden charges include teller operations by individuals, cash deposits in pesos into accounts of individuals and Mipyme, statements, and loan assessment and granting (point 2.3.2.2(ii)).
• Fee changes require at least 60 calendar days' free notice; new fee concepts need express consent (point 2.3.4).

17. Bank debits and credits tax: interaction with banking choices

The tax is explained in taxes/bank-tax. The points that drive banking design are:

Step by step

A. Opening a company current account

1. Get the company registered and a CUIT. The bank obtains the CUIT certificate electronically from ARCA (cuenta corriente, point 1.3.2.5). For incorporation steps see entities/sas and the company setup pages.
2. Choose the bank and the account. Current account if you need cheques or ECHEQ, overdrafts or dollar ECHEQ; special current account for legal persons if you only need transfers. Check the fee schedule: the bank must give the detail of commissions and keep proof that you received it (point 1.4.2).
3. Prepare the file. Registered bylaws (the bank may pull them from the Registry), list of officers and authorised signatories, and for each signatory: ID, CUIL or CUIT or CDI, domicile, occupation, marital status and PEP statement (points 1.3.1 and 1.3.2). Under UIF Resolution 14/2023 art. 23, the bank also collects phone and email, main activity, shareholding and the beneficial owners, and runs PEP and terrorism list checks on them.
4. Expect a transactional profile request. The bank builds an ex ante profile from your expected operations and your economic, financial and tax documentation (UIF Resolution 14/2023 art. 37). Bring recent financial statements or, for a new company, a business plan and proof of the origin of the capital (unconfirmed).
5. Sign the contract and register signatures. For ECHEQ, sign the acceptance of the electronic security elements (point 1.4.5).
6. Account opening. An SAS account must be operational the next banking day after the instrument and CUIT are provided (point 1.3.2). Other companies: no regulatory term in the sources (unconfirmed).
7. Register for tax. If the account will hold exempt or reduced rate movements, register it in ARCA's bank tax benefits register (RG 3900) or file the sworn note required by RG 2111 art. 35 (see taxes/bank-tax).
8. Set up channels: internet and mobile banking, batch transfers for payroll, and an alias for the CBU.
9. Payroll. Ask the bank to open payroll accounts for each employee (Depósitos de ahorro, point 2.1), or collect the CBU of payroll accounts the employees opened themselves.

Cost to do it: opening is a contract with the bank; the BCRA sources fix no opening fee for company accounts, only that fees must reflect real costs and be disclosed (Protección de los usuarios, point 2.3.2) (unconfirmed). Capital: no minimum deposit is set by regulation; the bank may agree an initial deposit (cuenta corriente, point 1.4.6). Time: next banking day for an SAS once documents are complete; no regulatory term for other types.

B. Non resident individual or newly arrived expat

1. Obtain a CDI from ARCA if you have no CUIT or CUIL, because the bank must obtain one of them electronically (Depósitos de ahorro, point 4.2) (unconfirmed).
2. Present a valid identity document under the BCRA identity documents rules (unconfirmed), domicile, occupation and PEP statement (point 1.3).
3. Open a peso and dollar savings account. Peso savings accounts are free to open and maintain (point 1.8).
4. If employed in Argentina, give your employer the CBU of a payroll account, or convert your savings account into a payroll account (point 2.1).
5. To receive foreign income as a resident service exporter, receive it in your local dollar account; no conversion or commission applies if the conditions of FX point 2.2.2.1 are met.

Cost to do it: free opening and maintenance for peso savings accounts (point 1.8); time depends on the CDI and the bank's KYC (unconfirmed).

C. Registering a PSP with the BCRA

1. Make sure the company is regularly incorporated in Argentina and its corporate object explicitly covers the payment services (PSP text, points 1.3.1 and 2.2.1).
2. Collect sworn statements, PEP statements and criminal records certificates (issued within 5 business days before filing) for shareholders of 10% or more, final controllers and directors; foreign residents use equivalent foreign certificates (point 2.2.2.12).
3. Get digital signatures (Law 25.506) for the signatories (point 2.2).
4. Log in to ARCA with the company's fiscal key, obtain the BCRA user and file the application with the bylaws (PDF), company data, officers and the functional description, including the sponsor bank for a PSPCP (points 2.2 and 2.2.2.11).
5. Answer observations within 20 business days (point 2.3).
6. Receive the certificate and RPSP number; start operations within 12 months (point 2.3).
7. For acceptors, obtain the scheme administrator's certificate of integration with all interoperable wallets (point 5.1.1). If you are a UIF reporting entity, register with the UIF (unconfirmed).

Cost to do it: no BCRA registration fee appears in the sources (unconfirmed); capital requirements for PSP are not in the sources (unconfirmed); time: at least the 10 plus 20 business day review cycle if observations are raised.

D. Receiving a cross border payment

1. Give the foreign payer your full legal name, CUIT, account number and the bank's SWIFT and correspondent details; incomplete payer or beneficiary data keep the funds pending (Exterior y Cambios, point 5.5).
2. Your bank notifies you within one business day of receipt (point 5.6).
3. Instruct the bank: convert to pesos at the MLC (company exports of services must be converted within 20 business days, point 2.2.1) or credit your dollar account (individual service exporters, point 2.2.2.1; other receipts, point 2.8).
4. Sign the exchange ticket with the correct concept code; its content is your sworn statement (point 5.3, summarised in fx/exchange-controls).
5. Keep the export invoice and contract for the tax and FX file.

Costs and timelines

Account types at a glance

Rates, thresholds and limits

The BCRA publishes updated UVA equivalences in March, July and November (normas complementarias, point 6.4). The November 2026 update may change the peso figures above (unconfirmed).

PCT fee structure by merchant category (normas complementarias, point 6.3.1.2)

Deadlines and time limits

Timeline of norms

BCRA communications are dated by issue and are not published in the Official Gazette as laws are; dates above are those printed in the BCRA texts.

Worked examples

Example 1. Fees and taxes on receiving a US$ 50,000 foreign payment

Facts. A foreign client pays US$ 50,000 for software services. Two recipients are compared:

• A. An Argentine SA, a large company (not an SME), receiving into its current account. Its services are exports.
• B. A resident individual freelancer receiving into a dollar savings account.

Assumptions for illustration (not from the sources): the foreign and correspondent banks deduct US$ 30 in charges; the Argentine bank charges a company an incoming transfer commission of 0.15% of the peso amount plus 21% VAT (unconfirmed); the conversion rate is ARS 1,563.90 per US$ (the 23 Oct 2026 dólar MEP rate is used as a proxy; the actual MLC rate on the day will differ) (unconfirmed); the company is in the SIRCREB padrón at an assumed 1.00% rate (unconfirmed). VAT on bank commissions is at the general 21% rate (VAT Law art. 28).

A. The company.

Notes on each line:

• Conversion is compulsory within 20 business days for a company's service export (FX point 2.2.1). The company cannot keep the dollars unless an exception applies (for example the knowledge economy regime of point 2.2.2.2 or simultaneous application under point 2.7).
• Export exemption. Current account credits "originated in the crediting of letters of credit and/or any other payment instrument that settles export proceeds" are exempt from the bank tax (Reg. art. 10(l)). Whether banks apply it to peso credits from converting service export proceeds received by SWIFT transfer is not confirmed in the sources (unconfirmed). The table shows both outcomes. The difference is ARS 468,888.50 (US$ 300).
• Income tax credit. A large company can credit 33% of the bank tax at 6‰ against income tax (Reg. art. 13). If the credit is taxed, the creditable amount is (468,888.50 + 851.03) × 33% = ARS 155,014.05 (US$ 99). A micro or small company would credit 100% (Law 27.264 art. 6).
• SIRCREB is a payment on account of provincial gross income tax, not a final cost; for a pure exporter it often builds a credit balance (see taxes/gross-income). Exports of services used abroad are untaxed in provinces that apply the fiscal pacts, which makes the SIRCREB amount a credit that is hard to use (unconfirmed).
• VAT on the commission is creditable input VAT for a VAT registered company, and exporters can recover input VAT linked to exports (see taxes/vat).
• What the money costs when it leaves. When the company pays salaries or suppliers with these pesos, each debit bears another 0.6%.

Economic cost to the company (taxed credit case): foreign charges ARS 46,917.00 + commission ARS 117,222.12 + non creditable bank tax (468,888.50 + 851.03) × 67% = ARS 314,725.49. Total about ARS 478,865 (US$ 306), or about 0.61% of the gross payment, before the outflow tax. VAT and SIRCREB are timing items if they can be recovered.

B. The resident individual.

The individual still owes income tax on the fees and, if registered for gross income tax and included in the SIRCREB padrón, may suffer a bank collection (unconfirmed). Converting to pesos later is a separate operation through the MLC or the securities market (see fx/exchange-controls). If the individual's balance at one bank exceeds ARS 50,000,000 (about US$ 31,971), the excess is outside deposit insurance (seguro de garantía, point 5.3.3). In this example US$ 49,970 is about ARS 78.1 million, so roughly ARS 28.1 million (about US$ 18,000) would be uninsured at a single bank at the 23 Oct 2026 dólar MEP rate.

Cost to do it (receiving US$ 50,000): company, about 0.6% of the payment in non recoverable costs on the assumptions above plus timing costs (SIRCREB, input VAT); individual, US$ 30 of foreign charges and no local fee; time, notice within one business day of receipt, company conversion within 20 business days.

Example 2. Monthly payroll payment cost including bank tax

Facts. An Argentine SRL with 25 employees pays net salaries of ARS 40,000,000 a month (average ARS 1,600,000 per employee) by batch transfer to payroll accounts at three banks. It also pays ARS 22,000,000 of employee withholdings and employer contributions to ARCA by VEP from the same current account (assumed figure; see taxes/payroll for how contributions are computed). The money comes from customer transfers into the current account, so ARS 62,000,000 is credited and then debited.

Assumption for illustration: the bank charges ARS 1,500 plus VAT per salary credited to another bank in a batch file (unconfirmed). Prices cannot be a percentage of the amount (normas complementarias, point 6.1.2).

Step 1. Bank tax.

Step 2. Transfer fees. 25 × ARS 1,500 = ARS 37,500, plus VAT 21% ARS 7,875: ARS 45,375 (US$ 29.01).

Step 3. What the employees pay. Nothing. Payroll accounts are free to open and use up to the wages credited (Depósitos de ahorro, point 2.6), and the credits and debits up to the wage amount are exempt from bank tax (Law 25.413 art. 2(c)).

Step 4. Income tax credit and net cost by company size.

For the microenterprise, the SIPA cap is 15% of the employer contributions under Law 27.541 art. 19 for the SIPA. If, for example, those contributions were ARS 8,000,000 (assumption), the cap would be ARS 1,200,000, above the ARS 223,281.67 available, so the full 30% could be used. The option covers remuneration accrued to 31 December 2026 (Decree 394/2023 art. 2, as extended by Decree 923/2025) (unconfirmed).

Step 5. Microenterprise free transfer tier. A microenterprise's transfers are free up to 7,500 UVA (ARS 15,435,000) per month, per currency and per account provider (normas complementarias, points 5.1.2.1 and 6.1.1). On a ARS 40,000,000 payroll with average transfers of ARS 1,600,000, roughly the first 9 salaries fit in the free tier (9 × 1,600,000 = 14,400,000) and the remaining 16 would be charged: 16 × 1,500 × 1.21 = ARS 29,040 (US$ 18.57) instead of ARS 45,375 (unconfirmed).

Step 6. Why paying in cash is worse. Paying wages in cash is not allowed: since Law 27.802 art. 35, wages must be credited to a bank payroll account under penalty of nullity (LCT art. 124). Even before that, a company that is not a micro or small enterprise withdrawing ARS 40,000,000 in cash would have paid ARS 480,000 (US$ 307) of bank tax at 1.2% on the withdrawal alone (Law 25.413 art. 1, second paragraph).

Cost to do it (monthly payroll): for the large company, about ARS 544,037 (US$ 348), or 1.36% of net payroll, in non recoverable bank tax and fees; for a micro or small company, mainly the transfer fees; time, same day by instant or batch transfer; no capital.

Practical traps

• Savings accounts are for individuals only. A company cannot open a caja de ahorros (Depósitos de ahorro, point 1.2). Managers who run company money through their personal savings account lose the company's audit trail and may be challenged by ARCA under the bank tax anti abuse rule (Reg. art. 10, last paragraph).
• Unregistered foreign parents cannot hold a current account in their own name; they can only open accounts to the personal order of their representatives (cuenta corriente, point 1.3.2.4). Plan the subsidiary's account early.
• The special investment account is not for industrial parents. It is limited to financial sector investors (Depósitos de ahorro, point 3.8.2).
• Wallets are not banks. A large balance in a payment account has no deposit insurance (PSP text, point 4.2.2), and payment accounts are in pesos only (point 1.4.1).
• Deposit insurance is per person per bank, not per account. All accounts at one bank are added together up to ARS 50,000,000 (seguro de garantía, point 5.3.3). Deposits at above reference rates are excluded (point 5.2.2): a "too good" fixed term rate can mean no insurance.
• Incomplete SWIFT data block payments. Funds stay pending until the payer and beneficiary data are complete (Exterior y Cambios, point 5.5.4). Ask the foreign payer to include your CUIT and full legal name.
• Company service exports must be converted. Keeping dollars abroad or in a local dollar account beyond 20 business days, outside an exception, breaches the FX rules (point 2.2.1), with exposure under the Criminal Foreign Exchange Regime.
• Same holder exemption fails with cheques and with shared accounts. Moving funds between own accounts by cheque is taxed, and accounts belonging to more than one legal person do not get the exemption (Reg. art. 10(b)).
• Pull transfers do not work on company current accounts (normas complementarias, point 3.4.3.3). Treasury sweeps between a company's own accounts must use push transfers.
• Do not confuse "MEP". The BCRA Medio Electrónico de Pagos is an interbank transfer system; the dólar MEP is a securities based exchange rate.
• Bounced cheques are cheap to fine but expensive to reputation. The fines are small (maximum ARS 50,000), but unpaid fines lead to listing as a disqualified current account holder (cuenta corriente, points 6.5 and 8.2).
• QR fees are capped by band, not free. Outside the first three months for small merchants, PCT costs 0.6% to 0.8% (normas complementarias, point 6.3.1.2). Compare it with card acquiring, which has no price band in the sources.
• Dollar cash is not covered by the free cash deposit rule, which refers to cash in pesos (Protección de los usuarios, point 2.3.2.2(ii)(b)).
• Tax garnishments hit all banks at once. A general attachment covers all accounts and funds in financial entities (Law 11.683 art. 92). Keep tax compliance current and monitor the electronic tax domicile, where measures may be notified.
• Inactive accounts get closed. After 730 days without movements, the bank may close the account with 30 days' notice (Depósitos de ahorro, point 4.8). Expats who leave a dormant account should log a movement at least every two years.
• Disputable debits. A company that collects by recurring DEBIN faces 30 day disputes with automatic chargebacks; one off DEBIN cannot be disputed by the payer (Débito inmediato, point 2.6).

Recent changes

• 2 October 2026. Com. A 8488 updated the PSP text (latest version to 2 October 2026) (unconfirmed).
• 14 September 2026. Com. A 8481 issued the latest consolidated FX rules used on this page.
• 11 September 2026. Com. A 8479 updated the savings, payroll and special accounts text.
• 8 September 2026. Com. A 8477 amended the transfer complementary rules on rejection grounds (point 2.9) and on payment requests for non commercial transfers (point 2.10).
• 31 July 2026. New UVA equivalences: UVA ARS 2,057.99; push limit ARS 30,870,000; free tier ARS 15,435,000 (normas complementarias, point 6.4).
• 14 July 2026. Com. A 8454 amended the PSP shareholder and director declarations (PSP text, point 2.2.2.12, correlation table).
• 4 June 2026. Com. A 8444 updated the current account rules.
• 1 June 2026 (BO). Decree 408/2026 added bank tax exemptions linked to the Fondos de Asistencia Laboral of Law 27.802 (see taxes/bank-tax).
• 14 May 2026. Com. A 8436 updated the transfer complementary rules (unconfirmed).
• 6 May 2026. Com. A 8433 updated the consumer protection rules, including fee change provisions (point 2.3.4, correlation table).
• 1 April 2026. Deposit insurance cap of ARS 50,000,000 in force (Com. A 8407 of 5 March 2026). The previous cap is not in the sources (unconfirmed).
• 6 March 2026 (BO). Law 27.802 replaced LCT art. 124: wages only by credit to a bank payroll account.
• 12 February 2026. Com. A 8399 amended the transfer complementary rules, including the ban on using "DEBIN" and "CREDIN" in client interfaces (point 2.5) and pull transfer rules (point 3.4).
• 9 April 2026 and 18 September 2025. Com. A 8417 and A 8330 widened the individual service exporter exception from conversion (FX point 2.2.2.1), as summarised in fx/exchange-controls.
• 21 December 2023 (BO). DNU 70/2023 deregulated the card law (Law 25.065) and widened wage payment options, the latter later replaced by Law 27.802.

Pending changes

• Payroll in wallets. Whether the payment system authority will allow wages in PSP payment accounts after Law 27.802 art. 35 restricted LCT art. 124 to bank accounts (unconfirmed).
• ISO 20022 migration of the instant transfer interface, to be defined in CIMPRA in stages (normas complementarias, points 4.3 and 4.4).
• Transitional fraud rules. The deferral and reversal powers of Transferencias Section 4 apply until schemes adapt to the rejection rule of normas complementarias point 2.9 (unconfirmed).
• November 2026 UVA update of all transfer thresholds (normas complementarias, point 6.4).
• Bank tax sunset. Law 25.413 arts. 1 to 6 are in force until 31 December 2027 (Law 27.432 art. 2(c), as extended by Law 27.702); see taxes/bank-tax for reform status.
• Microenterprise SIPA option expires for remuneration accrued after 31 December 2026 unless extended (Decree 394/2023 art. 2, as extended) (unconfirmed).
• Card settlement terms and merchant fee limits after DNU 70/2023 (unconfirmed).

FAQ

1. Can a foreign company open a bank account in Argentina without setting up a subsidiary? Only in limited ways. A current account in the company's name requires Argentine registration or registration with the competent supervisory body; otherwise the account can only be opened to the personal order of its members or legal representatives (cuenta corriente, point 1.3.2.4). Foreign financial sector investors supervised in a FATF compliant jurisdiction can open a special investment account limited to securities and repatriation (Depósitos de ahorro, point 3.8).

2. What documents does a bank need from my Argentine company? Registered bylaws (the bank can pull them from the Registry), CUIT, domiciles, list of officers and signatories with their personal data and PEP statements (cuenta corriente, point 1.3.2), plus the UIF data: activity, shareholding, beneficial owners, phone and email (UIF Resolution 14/2023 art. 23), and documents to build your transactional profile (art. 37). An SAS needs only the instrument and CUIT, with the account live the next banking day (point 1.3.2).

3. What is the difference between a CBU, a CVU and an alias? A CBU identifies a bank account; a CVU identifies a payment account at a wallet; an alias is a name linked to either. The lookup service shows holder, currency, tax ID and whether it is a judicial account (normas complementarias, point 2.4), which helps you confirm the recipient before sending.

4. Are transfers free? For consumers, for transfers between your own accounts, to judicial accounts, and for microenterprises up to 7,500 UVA a month (about ARS 15.4 million) or US$ 6,000 per provider, yes (normas complementarias, points 5.1.2.1 and 6.1.1). Other companies may be charged, but never a percentage of the amount (point 6.3.2.2).

5. Is my money in a fintech wallet insured? No. Payment account balances are not deposits and have no deposit guarantee; the provider must keep 100% in peso bank accounts and say so in its advertising (PSP text, points 4.1.2 and 4.2). Bank deposits are insured up to ARS 50,000,000 per person per bank (seguro de garantía, point 5.3).

6. Can I hold US dollars in an Argentine bank? Yes. Savings accounts, special current accounts and current accounts can be in dollars, and instant transfers and DEBIN work between dollar accounts (Depósitos de ahorro, points 1.5 and 3.4.4; cuenta corriente, point 1.4.3; Transferencias, point 2.2.9). Dollar deposits are covered by the same ARS 50,000,000 insurance cap, converted at the reference rate on the revocation date (seguro de garantía, point 5.3.1).

7. My company exports services. Can it keep the dollars? Generally no. It must convert them through the MLC within 20 business days of collection (FX point 2.2.1), unless an exception applies, such as the knowledge economy regime (point 2.2.2.2) or immediate application to a permitted outflow (point 2.7). Individuals exporting services can keep the dollars in their own local dollar account with no bank commission (point 2.2.2.1).

8. How much does a QR payment cost my shop? Between 0.6% and 0.8% of the sale, with the first three full months free for small merchants up to 1,000 UVA a month (normas complementarias, points 5.1.2.2 and 6.3.1). Any QR you display must be readable by every interoperable wallet (point 1.5.5.11).

9. What happens if a cheque I issued bounces? The bank debits a fine of 4% of the amount (minimum ARS 100, maximum ARS 50,000), reduced to 2% if you pay the cheque within 30 days; unpaid fines lead to listing in the BCRA register of disqualified holders (cuenta corriente, points 6.5 and 8.2). The holder can obtain a certificate to sue (point 3.5.5 for ECHEQ).

10. Can ARCA freeze my company's bank accounts? Yes. In a tax enforcement suit, ARCA can ask for a general attachment of all bank accounts and funds up to the claim, and banks report immediately without bank secrecy (Law 11.683 art. 92). It can also request a preventive attachment, which lapses if no suit is filed within 300 judicial business days (art. 111).

11. Do employees pay anything for their payroll account? No. Opening, maintenance, movements and balance enquiries are free up to the wages credited, including at other banks' ATMs (Depósitos de ahorro, point 2.6), and the bank tax does not apply to the wage credits and debits (Law 25.413 art. 2(c)).

12. How much bank tax does my payroll cost? The company pays 0.6% on the debit of the salaries and on the credit of the money that funds them. A large company can credit 33% against income tax; micro and small companies 100% (Reg. art. 13; Law 27.264 art. 6). See Example 2.

Primary sources

• BCRA, "Depósitos de ahorro, cuenta sueldo y especiales", consolidated to 11 September 2026, last communication A 8479, points 1.1 to 1.16, 2.1 to 2.8, 3.4, 3.6, 3.8, 3.13, 4.1, 4.2
• BCRA, "Reglamentación de la cuenta corriente bancaria", consolidated to 4 June 2026, last communication A 8444, points 1.3, 1.4, 3.5, 4.1, 6.5, 8.2
• BCRA, "Sistema Nacional de Pagos: Transferencias", consolidated to 7 August 2025, last communication A 8295, Sections 2 to 4
• BCRA, "Sistema Nacional de Pagos: Transferencias, normas complementarias", consolidated to 8 September 2026, last communication A 8477, Sections 1 to 6
• BCRA, "Sistema Nacional de Pagos: Débito inmediato", consolidated to 8 September 2025, last communication A 8321, points 1.1 to 2.7
• BCRA, "Sistema Nacional de Pagos: Débitos directos", consolidated to 7 August 2025
• BCRA, "Sistema Nacional de Pagos: Cheques" (operational instructions), consolidated to 22 August 2005
• BCRA, "Proveedores de servicios de pago", consolidated to 2 October 2026, last communication A 8488, Sections 1 to 7
• BCRA, "Aplicación del sistema de seguro de garantía de los depósitos", consolidated to 5 March 2026, last communication A 8407, points 5 and 6
• BCRA, "Protección de los usuarios de servicios financieros", consolidated to 6 May 2026, last communication A 8433, points 1.1, 2.3.2, 2.3.4
• BCRA, "Exterior y Cambios", consolidated to 14 September 2026, last communication A 8481, points 2.2, 2.7, 2.8, 5.4 to 5.6
• Law 21.526, Financial Entities Law, updated text, arts. 1, 39, 49
• Law 24.452, Cheques Law, updated text, arts. 25, 54, 56
• Law 24.485, deposit guarantee system, updated text, art. 1
• Decree 540/1995, updated text, arts. 12 to 17
• Law 25.065, cards law, updated text, arts. 15, 16, 37, 38
• Law 25.413, updated text, arts. 1, 2
• Decree 380/2001, Annex, updated text, arts. 3, 5, 7, 10, 13
• UIF Resolution 14/2023, arts. 23, 37, 42

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