Removing old regulation now allows banks to open "mini branches" in different stores, in which they can offer all the usual habitual services: deposits, cash draws, opening of accounts, processing loans, opening fixed deadlines or insurance requirement.
The resolution was issued on Tuesday by the central bank and will allow each financial institution to negotiate with businesses from almost any area to launch a special window for banking proceduresThey will be able to offer almost all the services of a large branch, although it will have only a limit on deposits because only will be allowed up to an amount equal to the vital and moving minimum wage (today valued at $ 10,700), for safety reasons.
The model is inspired by the operation of this type of consequences of the banking system, which has been operating for years in neighboring countries such as Chile, Brazil, Peru and Colombia, and stated how the sources of the monetary authority, to facilitate access to banks in small towns, which usually have large bank branches away.
The mechanism will work on the basis of an agreement that each bank closes with every deal. Subjects will conduct studies to assess the economic convenience of the opening of this mini-branch and, if it goes ahead with its implementation, he has to pay a commission, free bargaining between the two parties, which is usually paid by an open account or by a loan.
There are no exclusivity requirements: each bank will be able to connect with different businesses and businesses every store can have windows of different banksThe safety and operational responsibility of each small branch will in any case be the responsibility of the financial actors.
As this is a new experience in the country, some things are not yet clear as to how the new modalities will work. This could or may not include a physical space different from the store (another window) and finally the ATM. Customers will have no extra costs to work in this type of agency.
It could also mean widening banking reach break with Schedule Schedule Types of these services are typical, ranging from 10 to 15. Although central bank authorities could not confirm this, the gradual introduction of the new model "will tend to" eliminate this time constraint.
Of course, shops will be required to display two stickers in their stained glass windows. One of the central bank and one from each bank that is associated with this business. Financial institutions must also publish each of their appointed banking correspondents on their websites.
There is a point that promises a dispute with the banking unions. New mini subsidiaries can serve employees instead of bank employeesCentral sources argued that "international experience shows that the more bank approaches, the amount of employment in this sector is not diminishing but rising."
According to the central bank, "opening these access points to the financial system will also enable payment processes with more than 14 million installments made by Anses every month, in many cases in areas where access to the banking system is difficult. "
Official sources estimate that the new system could be introduced from next year. Companies in this period of the year usually closed their investment plan for the following year, but banks have been asking for some time to regulate this style, and so it could begin to realize in the medium term.