By means of Communiqué “A” 7835, published on August 24th, 2023, the Argentine Central Bank (“BCRA“) established that payment service providers that offer payment accounts (“PSPCP“) must transfer to their clients the returns of clients’ funds deposited in financial institutions.
The decision taken by the BCRA reaches the funds deposited in the PSPCPs that, by decision of the clients, were not invested. In this sense, the regulations establishes that 100% of the client’s funds must be deposited in call deposit accounts in financial institutions. In this respect, 45% of these deposits may be integrated with National Treasury Bonds (“Bonds“). For now on, PSPCPs will be forced to transfer to their clients the returns generated by these Bonds.
