What are the latest BCRA measures in quarantine by CORONAVIRUS?

In the last hours, the Central Bank extended several exceptional measures, in the middle of the quarantine by the Covid-19 that will bring relief to many people.

In the last hours, the Central Bank extended several exceptional measures, in the midst of the quarantine by Covid-19. There were decisions that will alleviate the situation of bank debtors and also for those who paid with their credit cards and cannot pay due to the dramatic fall in income suffered by the stoppage of economic activity.

There are also initiatives for retirees, pensioners and beneficiaries of AUH and social plans.

Through Communication “A” 6949, the BCRA detailed the latest facilities and decisions that come into effect from this Wednesday:

– Starting Friday, banks will be able to open their branches to pay retirees, pensioners and beneficiaries of the AUH. Also for those who perceive a social plan, be it of a national, provincial or municipal order, including the City of Buenos Aires.

– The service will take place every bank business day during the usual customer service day. For the rest of the clients, the banks will remain closed for the duration of the quarantine, for now until next Friday 10, inclusive.

– For debtors: the unpaid balances corresponding to maturities of bank loans that fall between now and June 30 “may only accrue the compensatory interest at the contractually anticipated rate”.

-Unpaid installments during that period: banks must incorporate said installment in the month following the end of the life of the loan, “considering the accrual of the compensatory interest rate.”

– Both direct debit and automatic debit can be reversed at the request of customers within 30 calendar days from the date of the debit. The return of the funds must be made within the following three business days.

– Credit cards: Unpaid balances must be refinanced with a maximum interest rate of 49% per year. That is, in the case of those who cannot pay even on the new deadline, the penalties will be removed and the remaining balance will be financed at a rate of 49%, that is, a reduction in cost compared to the 55% that prevailed until now.

– Credit cards II: The expiration of account statements that occur between the 1st to the 12th of April may be canceled by customers on the 13th of that month for the same amount of the summary and without any surcharge.

– Cash: Banks are obliged to enable deposit mailboxes and a system for receiving money “for larger amounts” in all its branches.

Outside of the BCRA regulations, the Government continues to seek a solution for those who, having lost their income, have no way to cope with the maturities that come in the coming months. The monotributistas of category C onwards and the self-employed are at the forefront of these claims.

Together, both – monotributistas C henceforth and self-employed – gather 1.5 million people.

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Written by Argentina News

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