BOARD OF DIRECTORS

BOARD RESOLUTION NO. 019/2025

SUBJECT: FINANCIAL ENTITIES MANAGEMENT – APPROVAL OF MAXIMUM FEES FOR ELECTRONIC FUNDS TRANSFER ORDERS.

VIEWED:

• The Political Constitution of the State (CPE) of February 7, 2009.
• Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB) and its modifications.
• Law No. 393 of August 21, 2013 on Financial Services and its modifications.
• The Statute of the Central Bank of Bolivia (BCB) approved by Board Resolution No. 095/2022 of October 6, 2022.
• Board Resolution No. 049/2018 of April 10, 2018, which from June 1, 2018, establishes maximum fees for the service of electronic funds transfer orders originating from financial intermediation entities destined for accounts in financial intermediation entities or mobile wallet accounts.
• The Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement (RSPIEPC), approved by Board Resolution No. 079/2022 of September 6, 2022, and its modification.
• Report BCB-GEF-SSPSF-DVSP-INF-2025-8 of February 17, 2025, issued by the Financial Entities Management (GEF).
• Report BCB-GAL-SANO-DLBCI-INF-2025-46 of February 17, 2025, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That Article 327 of the Political Constitution of the State establishes that the BCB is a public law institution, with legal personality and its own assets. Within the framework

//2. B.D. No. 019/2025

of the State's economic policy, it is the function of the BCB to maintain the stability of the internal purchasing power of the currency, to contribute to economic and social development.

That numeral 3 Paragraph I of Article 328 of the constitutional text provides among the attributions of the BCB, in coordination with the economic policy determined by the Executive Branch, in addition to those indicated by the Law, the regulation of the payment system.

That according to Article 331 of the Political Constitution of the State, financial intermediation activities, the provision of financial services, and any other activity related to the handling, use, and investment of savings, are of public interest and can only be exercised with prior authorization of the State, in accordance with the Law.

That Law No. 1670 in its Articles 2, 3, and 30 establishes that the BCB's objective is to ensure the stability of the internal purchasing power of the national currency, for the fulfillment of which it will formulate policies of general application in monetary and payment system matters, being subject to its regulatory competence, all entities of the financial intermediation and services system, whose operation is authorized by the Superintendence of Banks and Financial Entities, currently ASFI.

That Article 44 and subsections a), b), and o) of Article 54 of Law No. 1670 establish that the Board of Directors of the BCB is its Highest Authority, being responsible for defining its policies, specialized regulations of general application, and internal norms; having among its attributions, the power to issue norms and adopt general decisions that are necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law; regulate the administration of payment systems between authorized financial entities; and approve, modify, and interpret the Statute and its Regulations by two-thirds of the votes of all its members, without the need for any additional administrative act.

That Paragraph III of Article 8 of Law No. 393 provides that the Financial System Supervision Authority (ASFI) will issue specific regulation and supervise its compliance within the framework of the norms issued by the BCB, in the scope of the payment system.

//3. B.D. No. 019/2025

That Law No. 393, on Financial Services, in Paragraph III of its Article 8 states that the Financial System Supervision Authority (ASFI) will issue specific regulation and supervise its compliance within the framework of the norms issued by the BCB in the scope of the payment system.

That Paragraph I of Article 124 indicates that operations carried out within the framework of the services provided by financial entities may be performed through electronic means, which necessarily must comply with security measures that guarantee integrity, confidentiality, authentication, and non-repudiation.

That Paragraph IV of the same Article refers that ASFI and the BCB, according to their competencies, will issue regulation establishing the procedure and security norms for operations, as well as the minimum requirements that entities must meet to carry out electronic banking, telephone banking, and mobile device activities, regulatory norms of mandatory compliance by financial entities providing the service.

That subsections 1) and 3) of Article 5 of the BCB Statute provide that the BCB has regulatory competence to issue specialized norms in the fields assigned to it by the Law and technical competence for the formulation of policies and the application of instruments that allow it to fulfill its objective.

That subsections 1), 13), and 30) of Article 10 of the BCB Statute establish that the Board of Directors of the Issuing Entity has the attributions to approve general decisions and issue norms that are necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law, approve norms for the functioning of the payment system; as well as approve, modify, and interpret the Statute and Regulations of the BCB by two-thirds of the votes of all its members, without the need for an additional administrative act.

That Paragraph I of Article 24 and Article 26 of said Statute stipulate that Resolutions and decisions of the Board of Directors are adopted by a simple majority of votes of the members present in a meeting, except in cases where Law No. 1670 or the Statute require qualified majorities, and that the Board of Directors pronounces itself on matters within its competence

//4. B.D. No. 019/2025

through Resolutions, also being able to do so through minutes that will expressly appear in the Record. Likewise, every draft Board Resolution will be motivated and justified by a technical report from the Management or Managements to which the subject matter of the Resolution corresponds and by a report from the Legal Affairs Management. These reports must be sent to the Board of Directors by the General Management with its recommendation, except in technical matters corresponding to the Economic Policy Advisory, which may submit reports to the Board of Directors with its own recommendation.

That the RSPIEPCL approved by Board Resolution No. 079/2022 of September 6, 2022, and its modification, aims to regulate in the scope of the national payment system, the services and electronic payment instruments and the compensation and settlement derived from these instruments, establish the general framework for the creation, constitution, and functioning of Compensation and Settlement Chambers and Payment Service Companies; and regulate the surveillance and supervision activities of the national payment system.

That Paragraph I, Article 8 of the RSPIEPCL establishes that the BCB, with the objective of promoting greater use of EPIs and the development of the national payment system, may define maximum fees applicable to EPIs which will be disseminated through an External Circular of the BCB and communicated to ASFI for application and supervision within the framework of its competencies.

That Paragraphs I and II of Article 51 of the RSPIEPCL determine that Financial Intermediation Entities and mobile payment service companies covered by the norm must be participants in the MLD of the LIP in their capacity as the main infrastructure for the processing of EFTOs, in order to guarantee the interoperability and full interconnection of the national payment system; and that the BCB may dispose of the processing of specific operations through the MLD communicating this determination through an External Circular of the General Management or an External Communication of the Financial Entities Management for a specific participant.

That report BCB-GEF-SSPSF-DVSP-INF-2025-8 concludes that, with the purpose of continuing to promote the digitalization of payments throughout the national territory, achieve a more efficient use of the developed infrastructure, and give greater impetus to the use of EPIs, it proposes to extend the free service of EFTOs up to Bs69,600.00 (Sixty-Nine Thousand

//5. B.D. No. 019/2025

Six Hundred 00/100 Bolivianos). Likewise, with the purpose of guaranteeing the comprehensive and effective application of the measure, financial entities must expand the margins for processing electronic transfers through electronic and in-person channels up to the established free amount, and regarding public sector transactions that must be carried out through the BCB Bolivia QR method and through the MLD, LIP participants will not apply commissions or charges related to the generation of the BCB Bolivia QR and payment notifications to companies or public entities. Finally, it recommends to the Board of Directors of the BCB its approval, prior to the issuance of the legal report from the Legal Affairs Management.

That report BCB-GAL-SANO-DLBCI-INF-2025-46 from GAL concludes that the proposal of GEF regarding establishing new maximum fees for the service of electronic funds transfer orders originating from FIEs destined for accounts in FIEs or mobile wallet accounts and providing for the mandatory and automatic enablement of synchronous (immediate QR payments) and asynchronous (normal) electronic transfer processing through all its in-person and electronic payment channels and other inherent determinations, is legally viable, as it does not contravene current regulation and falls within what is established in Paragraph I, Article 8, Paragraphs I and II of Article 43 of the RSPIEPCL, recommending to the Board of Directors its approval; likewise, rendering ineffective Board Resolution No. 049/2018 of April 10, 2018.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA,

RESOLVES:

Article 1.- Approve the maximum fees for the service of electronic funds transfer orders originating from financial intermediation entities destined for accounts in Financial Intermediation Entities or mobile wallet accounts, as follows:

//6. B.D. No. 019/2025

Maximum fees for electronic funds transfer orders

Transfers in NC or its equivalent in FC (Amount per transaction)	Electronic Channels (Electronic banking, mobile banking, ATMs)	User Service at Platforms or Counters for Transfers
In Bs	In Bs	In Bs
1 to 10,000	0	10
10,001 to 69,600	0	20
69,601 to 100,000	5	30
Over 100,000	10	40

Other operations and electronic funds transfer orders

Type of Operation	Fee in Bs
Transfers to accounts of the same entity	0
Balance inquiries	0
Online service payments	0
Tax payments	0

Article 2.- Financial Entities will enable mandatory and default processing of synchronous (QR immediate payments) and asynchronous (normal) electronic transfers up to an amount of Bs69,600 (Sixty-Nine Thousand Six Hundred 00/100 Bolivianos) through all their in-person and electronic payment channels, informing their clients of this aspect and making the corresponding mechanisms available to them for the modification of this limit at any time.

Article 3.- Financial Entities participating in the Integrated Payment Settlement System (LIP) that channel public sector payments, of any nature, through QR codes, must process them through the BCB Bolivia QR method and through the MLD.

Article 4.- Financial Entities participating in the LIP will not apply commissions or charges for the generation of the BCB Bolivia QR and notifications linked to these payments to companies or entities in the public sector.

Article 5.- Render ineffective Board Resolution No. 049/2018 of April 10, 2018.

Article 6.- This Resolution will enter into effect from March 1, 2025.

Article 7.- The General Management is tasked with the dissemination of this Resolution.

La Paz, February 18, 2025

SIGNED. ROGER EDWIN ROJAS ULO, Gumerindo Héctor Pino Guzmán, Miguel Angel Marañon Urquidi, Victor Gonzalo Calisaya Gomez.