2010 - YEAR OF THE BICENTENARY OF THE MAY REVOLUTION

COMMUNICATION “A” 5127 24/09/2010

TO FINANCIAL INSTITUTIONS:

Ref.: Circular OPASI 2 - 415

Implementation of the “Universal Free Account”. Transfer Fees. Operation of Cancelatory Checks.

We address you to inform that this Institution has adopted the following resolution, the pertinent part of which is transcribed below:

Approve, effective from 18 Oct 2010, the text of the “Universal Free Account” which will be incorporated as Section 4 of the rules on “Savings deposits, payroll accounts and special accounts”, which will be renamed “Savings deposits, payroll accounts, universal free account and special accounts” and which is attached as an annex to this communication.
Order that financial entities must adopt the mechanisms necessary so that, effective from 1 Nov 2010, their clients can request the transfer of funds by electronic means – e.g., ATMs, Internet banking (“home banking”) and self‑service terminals – of the originating financial entity between peso‑denominated deposit accounts, for at least ARS 10,000 per day. This is without prejudice to the possibility of enabling clients to increase the cited limit, complying with the security requirements deemed appropriate. Entities must determine the operational mechanisms that allow transfers between accounts, both through the service called “account association for transfer” and through the identification of the destination account using its Uniform Bank Code (CBU).
Order, effective from 1 Nov 2010, that the charges and/or fees applied by financial entities for the service of transfers between peso‑denominated deposit accounts shall be subject to the following maximum limits:

3.1. For transfers made through electronic means – e.g., ATM, Internet banking (“home banking”) and self‑service terminals –:
- Transfers up to ARS 10,000 per day shall be free of charge; the financial entity may not charge any administrative, operational or other type of concept.
- For the amount exceeding that limit, entities may charge fees and/or commissions up to 50 % of the maximum commission according to the scale established below for counter (branch) transfers.

3.2. For transfers made at the counter:

Transfer amount	Maximum commission
Up to ARS 50,000	ARS 5
Greater than ARS 50,000 and up to ARS 100,000	ARS 10
Greater than ARS 100,000	ARS 300

This is without prejudice to any concepts that financial entities must add to the commissions (taxes, withholdings, etc.) according to the applicable legal regulations.

In addition, inter‑bank commissions may not be charged, without prejudice to the possibility of maintaining in force the commissions charged between entities and to clients for geographic coverage – at the rates in force on 23 Sep 2010 – in those cases where such commissions are foreseen.

Repeal Section 8 of the rules on “Monetary Circulation” and establish that the service of provision and use of the cancelatory check shall be subject to the provisions that will be issued in due time for that purpose. Financial entities must provide free of charge the service of sale and management of collection of the cancelatory check.

Finally, it is reminded that on the Institution’s website www.bcra.gov.ar, accessing “normativa” (“ordered texts”), the modifications made will be found with texts highlighted in special characters (strikethrough and bold).

We greet you very attentively.

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA

Darío C. Stefanelli – Issuing Manager of Rules

Alfredo A. Besio – Deputy General Manager of Rules

ANNEX

Index

Section 1. Savings Box.
1.1. Intervening entities.
1.2. Holders.
1.3. Identification and tax situation of the holder.
1.4. Opening and operation of accounts. Requirements.
1.5. Currencies.
1.6. Deposits and other credits.
1.7. Withdrawal of funds.
1.8. Remuneration.
1.9. Agreements to formulate debits.
1.10. Reversal of automatic debits.
1.11. Account summary.
1.12. Account closure.
1.13. Deposit guarantee.
1.14. Recommendations for ATM use.
1.15. Delivery of the text of the rules.

Section 2. Payroll Account.
2.1. Opening.
2.2. Holder.
2.3. Deposits.
2.4. Debit card.
2.5. Account summary.
2.6. Fees.
2.7. Remuneration.
2.8. Account closure.
2.9. Delivery of the rules to holders.
2.10. Documentation storage.
2.11. Additional services.
2.12. Other provisions.

Section 3. Basic Account.
3.1. Intervening entities.
3.2. Holders.
3.3. Identification and tax situation of the holder.
3.4. Opening and requirements.
3.5. Currency.
3.6. Computer security.
3.7. Deposits and other credits.
3.8. Withdrawal of funds.
3.9. Fee‑free movements.
3.10. Remuneration.
3.11. Agreements to formulate debits.
3.12. Reversal of direct debits.
3.13. Account summary.
3.14. Account closure.
3.15. Deposit guarantee.
3.16. Recommendations for ATM use.
3.17. Delivery of the text of the rules.
3.18. Debit card.
3.19. Other provisions.

Section 4. Universal Free Account.
4.1. Intervening entities.
4.2. Holders.
4.3. Identification and tax situation of the holder.
4.4. Opening and requirements.
4.5. Currency.
4.6. Computer security.
4.7. Deposits and other credits.
4.8. Withdrawal of funds.
4.9. Fee‑free movements.
4.10. Remuneration.
4.11. Agreements to formulate debits.
4.12. Reversal of automatic debits.
4.13. Account summary.
4.14. Account closure.
4.15. Deposit guarantee.
4.16. Recommendations for ATM use.
4.17. Delivery of the text of the rules.
4.18. Debit card.
4.19. Other provisions.
4.20. Transitional provision.

Section 5. Special Accounts.
5.1. Labor Cessation Fund for Construction Industry Workers.
5.2. For closed circles.
5.3. Pupil usury.
5.4. Current.
5.5. Sight accounts special in foreign currency.
5.6. Special for guarantees of futures and options operations.
5.7. Savings box for payment of the universal child allowance for social protection – Decree No. 1602/09.

Section 6. General Provisions.
6.1. Identification.
6.2. Tax situation.
6.3. Recommendations for ATM use.
6.4. Deposit guarantee.
6.5. Interest rates.
6.6. Deposit return.
6.7. Immobilized balances.
6.8. Discriminatory acts.
6.9. Mandatory account closure.
6.10. Procedure manual.

Section 7. Transitional Provisions.
Correlation table.

1.1. Intervening entities.

1.1.1. First‑tier commercial banks.
1.1.2. Financial companies.
1.1.3. Credit unions.
1.1.4. Savings and loan societies for housing or other real estate.

1.2. Holders.

Physical persons capable of contracting or freely disposing of the product of their lawful work.

1.3. Identification and tax situation of the holder.

Verification shall be based on the documents that holders must present, adjusted to the provisions of points 6.1 and 6.2 of Section 6. As a minimum, the following data shall be required:

1.3.1. Full first and last names.
1.3.2. Place and date of birth.
1.3.3. Address.
1.3.4. Profession, trade, industry, commerce, etc.
1.3.5. Marital status.

1.4. Opening and operation of accounts. Requirements.

If the client opts to open a savings box, the opening file must include the pertinent certificate of the explicit offer of the “Basic Account” referred to in Section 3, and the applicant’s decision not to have accepted that type of account.

SAVINGS DEPOSITS, PAYROLL ACCOUNT, UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS

Version: 4a. COMMUNICATION “A” 5127

Effective: 24/09/2010

1.5. Currencies.

1.5.1. Pesos.
1.5.2. United States dollars.
1.5.3. Other currencies.
At the request of the entities, the Central Bank of the Argentine Republic may authorize the capture of deposits in other currencies.

1.6. Deposits and other credits.

1.6.1. Counter deposits under agreed conditions.

The receipts used must contain, at a minimum, the following data:
1.6.1.1. Name of the financial entity.
1.6.1.2. Names and surname and account number.
1.6.1.3. Amount deposited.
1.6.1.4. Place and date.
1.6.1.5. When the deposit concerns checks or official payment orders nominative, the name of the issuing entity and the amount of each deposited document.

In cases of bearer checks or checks payable to a specific person – whether or not they contain the “non‑order” clause – that are delivered by the beneficiary to a third party for collection by presentation at the counter or by deposit in an account for electronic clearing, the back of the document must bear the signature and clarification of the mandator or orderer of the collection and his personal identification number – according to the rules on “Identification documents in force” – for natural persons, or CUIT or CDI for legal persons, regardless of whether the mandate document exists. Additionally, one of the following expressions must be inserted: “in procuration”, “value for collection” or “for its collection management”, as a manifestation of the effects of that endorsement.

The obligation to record the personal identification number or CUIT or CDI, as appropriate, and the legend mentioned above falls, indistinctly, on the mandator/orderer and on the mandatary or collector.

1.6.1.6. Seal of the receiving house, unless mechanized security scripts are used.
Alternative means such as magnetic cards or personal‑code identification may be employed to guarantee the genuineness of operations, extending the pertinent mechanically issued deposit receipt.

1.6.2. Deposits at ATMs.

The appropriate receipt with the essential operation data shall be issued.
Entities must have implemented computer‑security mechanisms that guarantee the genuineness of operations.

1.6.3. Transfers – including electronic – telephone orders, via “internet”, etc.

The operation’s proof shall be its entry in the account summary (point 1.11).
Entities must have implemented computer‑security mechanisms that guarantee the genuineness of operations.

1.6.4. Capitalized interests and other credits.

1.7. Withdrawal of funds.

1.7.1. Counter withdrawal under agreed conditions, using documents that have the characteristics of a receipt.

Alternative means such as magnetic cards or personal‑code identification may be employed to guarantee the genuineness of operations, extending the pertinent transaction receipt.

1.7.2. Through ATMs and operations carried out via terminals at points of sale.

The appropriate receipt with the essential operation data shall be issued.
Entities must have implemented computer‑security mechanisms that guarantee the genuineness of operations.

1.7.3. Transfers – including electronic – telephone orders, via “internet”, etc.

The operation’s proof shall be its entry in the periodic summary (point 1.11).
Entities must have implemented computer‑security mechanisms that guarantee the genuineness of operations.

1.7.4. Internal automatic debits for payment of taxes and services, commissions and other concepts, under agreed conditions.

1.7.5. Movements – whatever their nature – may not generate a debit balance.

1.8. Remuneration.

1.8.1. Interests.

Applicable rates shall be freely determined between the parties.
Interests shall be settled for periods not shorter than 30 days and credited to the account on the dates agreed.
If applicable, the minimum balances required to accrue interests shall be specified.

1.8.2. Other modalities.

Other forms of remuneration may be agreed in addition to or in replacement of the interest rate; such aspects shall be clearly and legibly specified in the contract.

1.9. Agreements to formulate debits.

As a prerequisite to opening an account, the explicit consent of the holders must be obtained for debiting amounts for the following concepts, to the extent they are agreed:

1.9.1. Operations of the entity itself (loan repayment, safe‑box rental, etc.).

1.9.2. Collection‑service operations on behalf of third parties, directly contracted with the bank or through such third parties (automatic or direct debits) for payment of taxes, fees, contributions and contributions, utility invoices (public or private), credit‑card statements, etc., when the client’s knowledge of the operation is assured at least 5 business days before the scheduled debit date.

If the client formalizes adherence to the automatic‑debit service through the service‑providing company, tax‑collecting agency, etc., the communication sent by the company or entity to the financial institution notifying the adherence shall be sufficient; the record may remain with the company or entity. The client may formalize adherence to the automatic‑debit system either through the financial institution where the account is held or through the service‑providing company, tax‑collecting agency, etc., provided that, in the relevant aspects, the previously indicated requirements are observed. The same option applies for expressing the termination or withdrawal from such a system. Adherence to this automatic‑debit mechanism shall be conditioned on the possibility of reversing operations under the conditions set out in point 1.10.

1.9.3. Fees freely agreed at opening or subsequently, for services rendered by the entity.

Fees and expenses shall be detailed with amounts and percentages, as well as dates and/or periodicity of those debits, including, among others, those related to:

Account opening.
Account maintenance.
Issuance and sending of account statements or automatic‑debit statements.
Counter operations or operations with the entity’s ATMs.
Settlement of securities presented for collection or checks excluded from clearing‑house regimes.
Deposits or withdrawals at branches other than those where the accounts are domiciled.
Rejection of third‑party checks.
Provision of deposit receipts.
Issuance and delivery of debit cards or cards for ATM use.
Automatic debits.
Use of ATMs of other entities or networks of the country or abroad.
Third‑party deposits (collections).
Out‑of‑hour deposits.
Signature certification.
Immobilized balances.

1.9.4. Modifications to the conditions or amounts of fees or expenses whose debit has been accepted must be communicated to the holder and obtain their consent at least 5 business days prior to their application.

Provided there is no explicit rejection by the client, the new conditions may be applied after a period not less than 30 calendar days counted from the deadline established for sending or making available the statements, unless a reliable notification to the client is chosen, in which case the period is reduced to 5 days. In case of changes that represent reductions in fees or expenses, the new amounts may be applied without waiting for the aforementioned periods. Funds debited as fees or expenses without the client’s prior knowledge or despite their opposition, as established above, shall be returned to the holders within 5 business days following the date on which the holder presents a claim to the entity. Additionally, the amount of expenses incurred to obtain the refund and the corresponding compensatory interests shall be recognized up to a limit equivalent to 100 % of the observed debits.

1.10. Reversal of automatic debits.

In the agreements that financial entities conclude with holders for adherence to automatic‑debit systems for payment of taxes, utility invoices, credit‑card statements, etc., a clause must be included that allows the client to order the suspension of a debit up to the business day preceding the due date (inclusive) and the alternative to reverse debits for the total amount of each operation, upon an explicit client instruction, within 30 calendar days from the debit date. The refund shall be made within 72 business hours after the entity receives the client’s instruction, provided that the originating company of the debit does not oppose the reversal when the reversal amount exceeds ARS 750, having not been directly billed.

Version: 4a. COMMUNICATION “A” 5127
Effective: 24/09/2010

When dealing with settlements of credit‑card statements of open systems, in replacement of the aforementioned reversal procedure, entities shall have mechanisms that allow users to manage through them the reversal of coupons included in the settlements and the refund of the corresponding amounts that have been debited.

1.11. Account summary.

At a minimum quarterly, and within 10 calendar days from the established closing date, entities shall send the holder a summary indicating the type of account according to the capture modalities enabled by the Central Bank, detailing each movement performed in the account – debits and credits – whatever their concepts, identifying the different transaction types with a specific code that each entity implements for that purpose and the balances recorded for the period covered. The summary shall also identify, in the corresponding extract, operations carried out on own account or on behalf of third parties, insofar as they involve check deposits exceeding ARS 1,000 and are identified by the corresponding endorsement, using the unique procedure each entity chooses to apply for that purpose.

Additionally, the summary shall state the Uniform Bank Code (CBU) so that the client may subscribe to direct‑debit services, the prevailing compensation period for the operation of check deposit and other compensable documents, and, in the place determined by the entity, the total amount debited during the period as “Financial Transaction Tax” and the tax‑identification key (CUIT, CUIL or CDI) of the account holders, according to the depository’s records. It shall be obligatory to list data for up to three holders; when there are more than three, the total number shall also be indicated.

If applicable, entities shall provide the following minimum data:

1.11.1. When debits corresponding to the automatic‑debit service occur:

Name of the service‑providing company, tax‑collecting organism, etc., to which the debited funds were destined.
Identification of the client in the company or entity (surname and name or code or account, etc.).
Concept of the operation causing the debit (month, bimonth, quota, etc.).
Amount debited.
Date of debit.

End of document

1.11.2. When transfers are made:

i) If the account belongs to the originator of the transfer:

Discretionary information at the discretion of the originating company or individual.
Transferred amount.
Date of the transfer.

ii) If the account is of the recipient of the transfer:

Name of the originating person or company.
CUIT, CUIL or DNI number of the originator.
Unique reference of the transfer.
Total transferred amount.
Date of the transfer.

Conformity with the movement recorded by the entity will be presumed if, within 60 calendar days after the respective period has expired, the entity does not have a claim formulation in its possession.

1.12. Account closure.

1.12.1. By the account holder's decision.
By presenting at the entity and withdrawing the total balance (principal and interest).
The entity will provide proof of the respective closure.

1.12.2. By the entity's decision.
It will proceed when, in the judgment of the financial entity, the client has not complied with the operational conditions detailed in the procedures manual of point 6.10 of Section 6.

1.12.2.1. General procedure.
The holders will be notified by mail using a certified piece, granting a period of no less than 30 calendar days before proceeding with the account closure and transfer of funds to immobilized balances. Additionally, the communication will refer to the commission to be applied on those amounts and the effective date.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 1. Savings bank.
Version: 9a. COMMUNICATION “A” 5127
Effective: 24/09/2010

1.12.2.2. Exception.
In cases of accounts that have balances lower than 50 times the value of the postal item called “certified letter plus” (basic service up to 150 grams) of the Argentine Post, a notice may be issued by means of a general publication, once, in two newspaper outlets circulating in the localities where the respective entity's branches are located. That publication, which will contain the data set out in point 1.12.2.1., may be made by each intervening entity, by a group of entities, or by the associations that group them, with explicit mention of the entities that will apply the provision.

1.13. Deposit guarantee.
The account's situation with respect to the deposit guarantee insurance system will be specified.
The inclusion of the corresponding legends will be formulated in accordance with the provisions of point 6.4 of Section 6.

1.14. Recommendations for the use of ATMs.
At the time of opening an account that involves the delivery of cards to operate with ATMs, the holder must be notified about the recommendations and precautions they must take for its use, in the terms contained in point 6.3 of Section 6.

1.15. Delivery of the text of the rules.
The depositor will be given, against a signed receipt, the complete text of the rules in force as of the account opening date.
Modifications to that text will be communicated to the holder at the first opportunity they visit the entity's offices for any procedure or operation linked to their account, via reliable notification or through inclusion in the account statement.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 1. Savings bank.
Effective: 24/09/2010

2.1. Opening.
Authorized entities that have ATMs must open these accounts at the request of employers subject to the obligation to pay wages to their staff by crediting the account in accordance with the provisions of the Ministry of Labor, Employment and Social Security, within the framework of article 124 of the Employment Contract Regime (text according to Law 26.590).

2.2. Holder.
A peso account will be opened in the name of each dependent worker of the covered employers, according to the information they provide, which will contain at minimum surname and given names, unique labor identification code (CUIL) and address of each worker. The worker may designate their spouse or partner or a direct family member as co‑holder of the account, in order to carry out admitted fund movements and other operations authorized by the holder. Once funds are credited to the salary account, workers may choose to transfer their earnings to other accounts (checking or savings) that they expressly indicate and have opened on their own decision, regardless of the entity, which will be governed by the rules established for those accounts.

2.3. Movement of funds.

2.3.1. Credit of normal and regular wages and other concepts derived from the employment relationship will be admitted, including amounts corresponding to family allowances transferred by the National Social Security Administration (ANSES) and monetary disability benefits derived from Law 24.557 (Work Risk Law).
Additionally, credit of amounts corresponding to tax refunds, promotional, commercial or health benefit reimbursements, as well as personal loans payable through wage garnishment or debit to the account, will be admitted.

2.3.2. Fund withdrawals in the country, at the worker's option, will be made according to any of the following alternatives:

2.3.2.1. Through all ATMs enabled in the country by any financial entity, without amount limits (except those expressly agreed for security reasons and/or resulting from operational equipment restrictions) nor limits on the number of withdrawals.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 2. Salary account.
Version: 5a. COMMUNICATION “A” 5127
Effective: 24/09/2010

2.3.2.2. Cash over the counter at the depositing entity, without amount or withdrawal limits when performed at the account's domicile branch, and at other branches of the entity according to operational restrictions that may be established by it.
2.3.2.3. By purchases made with the debit card.
2.3.2.4. Payment of taxes, services and other concepts via electronic channels (ATM, Internet banking, etc.) or through the automatic debit system, without limit on enrollments.

2.4. Debit card.
A magnetic card must be provided – free of charge – to the account holder and co‑holder, if any, that allows operation with ATMs and the other operations provided in point 2.3.2. Replacements due to demagnetization or deterioration (in the latter case up to one per year) shall be free of charge.

2.5. Account statement.
A semi‑annual statement, free of charge, detailing the movements recorded in the account will be issued and sent to the holder's address unless the holder expressly opts otherwise. The entity's ATM system must provide – free of charge – a slip showing the balance and the last ten operations performed.

2.6. Fees.
Entities may not charge fees or commissions for account opening, maintenance, fund movements and balance inquiries – even those incurred by using ATMs of different entities and/or networks in the country – provided that the use of the accounts conforms to the conditions set out in point 2.3 and up to the amount of credits derived from the employment relationship and other concepts provided in point 2.3.1, accumulating the unwithdrawn amounts without time limit. If, by agreement, credits other than those mentioned in point 2.3.1 are made that coexist with balances from the employment relationship, withdrawals must first affect the amounts of that relationship. The debit and transfer of earnings to the accounts indicated by workers as provided in the third paragraph of point 2.2 shall not entail any charge for them.

2.7. Compensation.
Entities may freely agree with the parties on the payment of interest on account balances, which may be settled when balances exceed a certain amount.

2.8. Account closure.
Account closure must be communicated by the employer due to the termination of the employment relationship with the worker.
It will become effective after 60 calendar days have elapsed, counted from the date of the last fund credit or from the communication – whichever is later – with the provisions of point 2.6 applying during that period. After that period, the remaining funds will be transferred to immobilized balances, without the need to complete another procedure.

2.9. Delivery of the rules to the holder.
The holder, through their employers, will be given the text with the conditions governing the operation of these accounts, and the entity must keep proof of receipt by the interested party, which may be formalized in a list prepared for that purpose.

2.10. Document retention.
Documentation linked to the credits in these accounts must be retained in a manner that facilitates compliance with control and supervision according to applicable legal regulations.

2.11. Additional services.
The inclusion in the salary account of additional financial services, not derived from its labor nature nor those already provided in point 2.3.1 of this Section, must be expressly requested by the worker from the intervening financial entity, with those services clearly set out as an annex to the text referred to in point 2.9. If fees or charges for these additional services are anticipated, they will be applied from the effective use of the service by the holder and must be recorded in the cited annex.

2.12. Other provisions.
The provisions established for savings‑bank deposits in points 1.9, 1.10, 1.13 and 1.14 of Section 1 will apply (when they do not conflict with the provisions of this Section). Movements – whatever their nature – in this account may not generate a debit balance.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 2. Salary account.
Version: 4a. COMMUNICATION “A” 5127
Effective: 24/09/2010

3.1. Intervening entities.
3.1.1. First‑tier commercial banks.
3.1.2. Financial companies.
3.1.3. Cooperative credit unions.
3.1.4. Savings and loan societies for housing or other real estate.
Entities that choose to offer the service of these accounts must notify it 15 calendar days in advance by note, signed by the legal representative, addressed to the Superintendency of Financial and Currency Entities.

3.2. Holders.
Natural persons capable of contracting or freely disposing of the proceeds of their lawful work.

3.3. Identification and tax status of the holder.
Verification will be based on the documents that holders must present, in accordance with points 6.1 and 6.2 of Section 6.
Additionally, at minimum, the following data will be required:

3.3.1. Full first and last names.
3.3.2. Place and date of birth.
3.3.3. Address.
3.3.4. Profession, trade, industry, commerce, etc.
3.3.5. Marital status.

3.4. Opening and safeguards.
The existence of these accounts must be informed to new clients when a savings‑bank account is requested and it is not linked to the granting of financial assistance.

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Effective: 24/09/2010

If the client chooses to open a savings‑bank account, the offer mentioned in the previous paragraph must be documented by adding to the opening records the appropriate proof of the explicit offer of the basic account and the applicant's decision to have chosen it. The offer of the basic account may not be conditioned on the acquisition of other products. Precautions must be maximized to prevent opening accounts with forged, unauthentic documentation or in the name of persons whose documents do not correspond to the presenters. Entities must pay attention to the functioning of the accounts in order to avoid their use in connection with illicit activities. Internal rules and procedures must be adopted to verify that the movements recorded in the accounts are reasonable with respect to the activities declared by the clients. It is recommended, in case of insufficient references or securities regarding the new client, to give instructions so that before proceeding with a check deposit, aspects such as account age, its activity, continuity of contributions and any other safeguard that practice deems advisable are considered, without harming the legitimate interests of honest clients.

3.5. Currency.
Pesos.

3.6. Computer security.
Entities must have implemented computer security mechanisms that guarantee the authenticity of operations.

3.7. Deposits and other credits.

3.7.1. Counter deposits under agreed conditions.
The receipts used must contain, at minimum, the following data:

3.7.1.1. Name of the financial entity.
3.7.1.2. First and last names and account number.
3.7.1.3. Deposited amount.
3.7.1.4. Place and date.
3.7.1.5. When the deposit involves nominative checks or official payment orders, the name of the issuing entity and the amount of each deposited document.

In cases of checks drawn payable to bearer or to a specific person – whether or not they contain a “non‑negotiable” clause – and that are delivered by the beneficiary to a third party for collection by presenting at the counter or by depositing into an account for electronic clearing, the back must record the signature and clarification of the mandator or orderer of the transaction and their personal identification number – according to the rules on “Current Identification Documents” – in the case of natural persons, or CUIT or CDI in the case of legal entities, regardless of whether the document that authorizes the mandate exists. Additionally, one of the following expressions must be inserted: “in procuration”, “value at collection” or “for its collection management”, as a manifestation of the effects of that endorsement. The obligation to record the personal identification number or CUIT or CDI, as appropriate, and the aforementioned legend falls, indistinctly, on the mandator or orderer and the mandatary or manager.

3.7.1.6. Seal of the receiving branch, unless security‑mechanized forms are used.
Alternative means such as magnetic cards or personal‑code identification may be used to guarantee the authenticity of operations, extending the pertinent mechanically issued deposit receipt.

3.7.2. Deposits at ATMs and self‑service terminals within the national territory.
A receipt with the essential data of the operation will be issued.

3.7.3. Transfers – including electronic – telephone orders, via "internet", etc.
The operation's proof will be its entry in the account statement (point 3.13).

3.7.4. Capitalized interest and other credits.

3.8. Fund extraction.

3.8.1. Over the counter: under agreed conditions, using documents that have the characteristics of a receipt.

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Version: 10a. COMMUNICATION “A” 5127
Effective: 24/09/2010

Other alternative means such as magnetic cards or personal‑code identification may be used to guarantee the authenticity of operations, extending the pertinent transaction receipt.

3.8.2. Through ATMs and operations carried out via terminals at points of sale within the national territory.
The appropriate receipt with the essential operation data will be issued.

3.8.3. Transfers – including electronic – telephone orders, via "internet", etc.
The operation's proof will be its entry in the periodic statement (point 3.13).

3.8.4. Internal automatic debits for payment of taxes and services, commissions and other concepts, under agreed conditions.

3.8.5. For purchases at affiliated merchants made with a debit card.
The appropriate receipt with the essential operation data will be issued.

3.8.6. Movements – whatever their nature – may not generate a debit balance.

3.9. Fee‑free movements.

3.9.1. The following operations will be free of charge:

those routed through any of the country's ATMs that belong to the same financial entity that issued the debit card provided for operating the account,
debits for purchases in merchants,
debits for electronic transfers ordered through Internet banking (“home banking”) and any other electronic means enabled by the entity, and
direct debits.

3.9.2. For the client, per calendar month, the following will be free of charge:

two over‑the‑counter operations at the branch where the account is domiciled,
three operations performed at ATMs of other financial entities in the country that belong to the same network in which the entity operates, and
one operation at ATMs in the country that belong to another network.

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Version: 10a. COMMUNICATION “A” 5127
Effective: 24/09/2010

In all cases, the first operations performed, originating from any of the following concepts, shall be considered:

debits and credits, whatever their type (without prejudice that the entity may charge for the management service of interbank transfers),
balance inquiries,
transaction inquiries.

3.10. Compensation.
The applicable interest rate will be freely determined between the parties.
Interest will be settled for elapsed monthly periods and credited to the account on the agreed dates.
No additional incentives or bonuses to the interest rate may be agreed.

3.11. Agreements to originate debits.
To the extent they are agreed, prior explicit consent of the holders must be recorded for debiting amounts for the following concepts:

3.11.1. Operations of the entity itself (loan payments, safe‑deposit box rentals, etc.).

3.11.2. Collection services on behalf of third parties, arranged directly with the entity or through those third parties (automatic or direct debits) for payment of taxes, fees, contributions and dues, invoices of public or private services, credit‑card statements, etc., when the client’s knowledge is assured with a minimum prior notice of 5 business days relative to the scheduled debit date.
If the client formalizes adherence to the direct debit service through the service‑providing company, tax‑collecting agency, etc., to carry out the debits, it will be sufficient for the company or entity to send a communication to the entity notifying the adhesion, whose proof may remain in the possession of the company or entity. The client may formalize adherence to the direct debit system through the financial entity where they hold their account or through the service‑providing company, tax‑collecting agency, etc., insofar as the previously indicated requirements are met in the relevant aspects. The same option applies to express withdrawal or termination of a service of this system. Adherence to this direct debit mechanism will be conditioned on the possibility of reversing the operations under the conditions set out in point 3.12.

3.11.3. Fees.

Section 3 – Basic Account

Effective: 24/09/2010

3.11.3. Fees

The following fees may be freely agreed at the time of opening or subsequently:

3.11.3.1. Account maintenance.
3.11.3.2. For movements in an amount additional to that provided for in point 3.9.
3.11.3.3. For other concepts such as transfer‑management service, third‑party check rejection, signature certification, etc.

The fees must be detailed, mentioning their amounts, and must be unique and uniform for all customers and for every type of movement concerned, as well as the dates and/or periodicity of those debits.

3.11.4. Modification of fee conditions

If the client does not expressly reject the change, the new conditions may be applied after a period not less than 30 calendar days counted from the expiry date of the deadline established for sending or making the statements available, unless certified notification to the client is chosen, in which case the period is reduced to 5 days. In case of changes that result in a reduction of fees or expenses, the new amounts may be applied without waiting for the aforementioned periods.

Funds debited as fees without the prior knowledge of the clients or despite their opposition, in accordance with the preceding provisions, must be reimbursed to the holders within 5 business days following the date on which the holder files a claim with the entity. Additionally, the entity must recognize the amount of expenses incurred to obtain the reimbursement and the corresponding compensatory interest up to a limit equivalent to 100 % of the observed debits.

3.12. Reversal of direct debits

In the agreements that financial entities conclude with holders for participation in direct‑debit systems for the payment of taxes, public or private utility bills, credit‑card statements, etc., a clause must be included that provides the possibility for the client to order the suspension of a debit up to the business day preceding (inclusive) the due date and the alternative to reverse debits for the total amount of each operation, upon an express instruction from the client, within 30 calendar days counted from the date of the debit. The refund shall be effected within 72 business hours following the date the entity receives the client’s instruction.

If the amount of the requested reversal exceeds $750, provided that the originating company of the debit does not oppose the reversal because the billing difference has been made effective directly, the reversal shall be returned.

When dealing with open‑system credit‑card settlements, in replacement of the aforementioned reversal procedure, entities must have mechanisms that allow users to manage, through those systems, the reversal of coupons included in the settlements and the reimbursement of the pertinent amounts that have been debited.

Deposits of Savings, Salary Account, B.C.R.A. Universal Free Account and Specials

Section 3 – Basic Account
Effective: 24/09/2010

3.13. Account statement

Periodic issuance of statements detailing the movements recorded in the accounts is not mandatory.

In replacement, the entity’s ATM system must provide, free of charge to the client, a slip showing the balance and the last 10 movements operated.

When the holder has enrolled in direct‑debit payment of taxes, services and other concepts, a quarter‑annual statement of the payments made must be issued free of charge for the client and made available to the holder at the branch where the account was opened.

The statement must indicate the type of account – according to the deposit modalities enabled by the Central Bank – the Uniform Bank Code (CBU) so that the client can enroll in direct‑debit services, and, in the place determined by the entity, the total amount debited in the period under the concept “Financial Transaction Tax” and the tax‑identification number (CUIT, CUIL or CDI) of the account holders, according to the depository records. It will be obligatory to list the data of up to three holders; when they exceed that number, the total quantity must also be indicated.

If applicable, entities shall report the following minimum data:

3.13.1. When debits correspond to the direct‑debit service:

Name of the service‑providing company, tax‑collection agency, etc., to which the debited funds were destined.
Identification of the client in the company or entity (surname and name or code or account, etc.).
Concept of the operation causing the debit (month, bimonth, quota, etc.).
Debited amount.
Date of debit.

3.13.2. When transfers are made:

3.13.2.1. If the account belongs to the originator of the transfer:

Discretionary information at the discretion of the originating company or individual.
Transferred amount.
Date of the transfer.

3.13.2.2. If the account is the recipient of the transfer:

Name of the originating person or company.
CUIT, CUIL or DNI number of the originator.
Unique reference of the transfer.
Total transferred amount.
Date of the transfer.

It will be presumed that the movement is accepted by the entity if, within 60 calendar days after the period has expired, the entity does not have a claim on file.

3.14. Account closure

3.14.1. By the holder’s decision

The holder may, by presenting a request to the entity, withdraw the total balance (principal and interest) and close the account. The entity shall provide proof of the closure, free of charge to the client.

3.14.2. By the entity’s decision

The entity may proceed when, in its judgment, the client has not complied with the operational conditions detailed in the procedures manual of point 6.10 of Section 6.

3.14.2.1. General procedure

The holders shall be notified by certified mail, granting a period of at least 30 calendar days before proceeding with the account closure and the transfer of funds to immobilized balances. The communication shall also reference the commission to be applied to those amounts and the effective date.

3.14.2.2. Exception

For accounts whose balances are less than 50 times the value of the “certified letter plus” (basic service up to 150 grs.) of the Argentine Post, a notice may be issued through a general‑public publication, once, in two newspaper organs circulating in the localities where the entity’s branches are located.

The publication, which will contain the data set out in point 3.14.2.1, may be made by each intervening entity, by a group of entities, or by the associations that gather them, expressly mentioning the entities that will apply the provision.

3.15. Deposit guarantee

The situation of the account with respect to the deposit‑guarantee insurance system shall be specified. The incorporation of the corresponding legends shall be formulated in accordance with point 6.4 of Section 6.

3.16. Recommendations for ATM use

At the moment of opening an account that involves the delivery of cards for ATM operations, the holder must be notified of the recommendations and precautions to be taken for its use, as contained in point 6.3 of Section 6.

3.17. Delivery of the text of the rules

The depositor shall receive, against a signed receipt, the complete text of the rules in force on the date of account opening. Modifications to that text shall be communicated to the holder at the first opportunity the holder visits the entity’s offices for any procedure or operation linked to the account, either by certified notification or through inclusion in the account statement.

3.18. Debit card

At the holder’s request, a magnetic‑stripe card shall be provided to each holder that allows ATM operations and other foreseen operations, free of charge for two magnetic cards. Replacements due to demagnetisation shall not cost the client.

3.19. Other provisions

The use of this account for operations not specifically provided for in these rules shall not be admitted, nor shall there be a waiver of benefits expressly contemplated in them.

Section 4 – Universal Free Account

Version: 5a. COMMUNICATION “A” 5127
Effective: 18/10/2010

4.1. Intervening entities

4.1.1. First‑grade commercial banks.
4.1.2. Financial companies.
4.1.3. Cooperative credit unions.
4.1.4. Savings and loan societies for housing or other real estate.

These entities, insofar as they have at least ten ATMs installed as of 1.10.10 or reach that number later, must open these accounts upon request of those who require them.

4.2. Holders

Physical persons capable of contracting or freely disposing of the proceeds of their lawful work, who are not holders of checking accounts, savings boxes, salary accounts, basic accounts or universal free accounts in the same entity or in others of the system, and to whom the grace period referred to in the last paragraph of point 4.14.3 (account closure for exceeding the admitted balance) does not apply. For those purposes they must sign an affidavit.

4.3. Identification of the holder

Identification shall be verified based on the documents that holders must present, in accordance with points 6.1.1 and 6.1.2 of Section 6. For foreigners who prove at least one year of permanent or temporary residence in the country, as evidenced by documentation or certification issued by the National Directorate of Migrations, and who do not have a DNI, the identification document of the country of origin and a proof of DNI in process issued by the National Registry of Persons shall be required.

The following data shall also be required:

4.3.1. Full first and last names.
4.3.2. Place and date of birth.
4.3.3. Nationality.
4.3.4. Address.
4.3.5. Profession, trade, industry, commerce, etc.
4.3.6. Marital status.

4.4. Opening and safeguards

These accounts shall be opened with the sole presentation of the identity document, without prejudice to applying safeguards to prevent the opening of accounts with forged or unauthentic documentation or in the name of persons whose documents do not correspond to the presenters.

The entities shall pay attention to the functioning of the accounts so as to avoid their use in connection with illicit activities. It is recommended to give instructions so that, prior to processing check deposits, aspects such as account age, movement, permanence of contributions and any other safeguard the practice deems advisable are considered, without harming the legitimate interests of honest clients.

4.5. Currency

Pesos.

4.6. IT security

Entities shall have implemented IT‑security mechanisms that guarantee the authenticity of operations.

4.7. Deposits and other credits

4.7.1. Counter‑deposit under agreed conditions

The receipts used shall contain, at minimum, the following data:

4.7.1.1. Name of the financial entity.
4.7.1.2. Full name and account number.
4.7.1.3. Deposited amount.
4.7.1.4. Place and date.
4.7.1.5. When dealing with check or official payment‑order deposits, the name of the issuing entity and the amount of each deposited document.
4.7.1.6. Seal of the receiving house, unless mechanized security scripts are used.

Alternative means such as magnetic cards or personal‑code identification may be employed to guarantee the authenticity of operations, extending the appropriate mechanically‑issued deposit receipt.

4.7.2. Deposits at ATMs and self‑service terminals within the national territory

A receipt containing the essential data of the operation shall be issued.

4.7.3. Transfers – including electronic – telephone orders, via “internet”, etc.

The operation’s record in the account statement (point 4.13) shall serve as proof.

4.7.4. Capitalised interest and other credits

The total of credits – whatever the concept – per calendar month may not exceed $10,000. The account balance, measured as the moving average of daily balances over the last three calendar months, shall not exceed $10,000, and the provisions of point 4.14.3 shall apply if it is exceeded.

4.8. Fund extraction

4.8.1. Counter‑withdrawal

In the conditions agreed, using documents that have the characteristics of a receipt. Other alternative means such as magnetic cards or personal‑code identification may be used, extending the appropriate transaction receipt.

4.8.2. Through ATMs and operations carried out via terminals at points of sale within the national territory

The pertinent receipt with the essential operation data shall be issued.

4.8.3. Transfers – including electronic – telephone orders, via “internet”, etc.

The operation’s record in the account statement (point 4.13) shall serve as proof.

4.8.4. Internal automatic debits for payment of taxes and services, commissions and other concepts, under the agreed conditions.

4.8.5. Purchases in affiliated merchants, made with a debit card

The pertinent receipt with the essential operation data shall be issued.

4.8.6. Movements – whatever their nature – may not generate a negative balance.

4.9. Charge‑free movements

The following operations shall be free of charge:

Those routed through any ATM of the country that belongs to the same financial entity that issued the debit card provided for the account.
Debits for purchases in merchants.
Automatic service debits.

General transfer rules shall apply. However, if the operation is ordered through ATMs belonging to another financial entity, the operation may be subject to usage charges.

4.10. Remuneration

Balances of these accounts shall be remunerated at the interest rate agreed. Interests shall be settled for elapsed monthly periods and credited to the account on the agreed dates.

Other forms of remuneration in addition to or in replacement of the interest rate may be agreed, provided they are clearly and legibly specified in the contract.

4.11. Agreements to formulate debits

When agreed, prior explicit consent of the holders must be obtained for debiting amounts for the following concepts:

4.11.1. Operations of the entity itself.
4.11.2. Collection‑service operations on behalf of third parties, directly agreed with the entity or through those third parties (automatic debits) for payment of taxes, fees, contributions and contributions, public or private utility invoices, credit‑card statements, etc., when the client’s knowledge is assured with a minimum advance of 5 business days relative to the date set for the debit that the holder has contracted.

If the client formalises his/her enrolment in the automatic‑debit service through the service‑providing company, tax‑collection agency, etc., the communication sent by the company or entity to the financial institution notifying the enrolment shall be sufficient, and the proof may remain with the company or entity.

The client may formalise enrolment in the automatic‑debit system through the financial institution where the account is held or through the service‑providing company, tax‑collection agency, etc., provided that the pertinent requirements previously indicated are observed. The same option shall be available to express deregistration or termination of a service of this system.

Enrolment in this automatic‑debit mechanism shall be conditioned on the possibility of reversing the operations under the conditions set out in point 4.12.

4.11.3. Fees

4.11.3.1. Account maintenance: free of charge.
4.11.3.2. For operations not foreseen in point 4.9: fees must be detailed, mentioning their amounts as well as the dates and/or periodicity of those debits.

4.11.4. Modification of fee conditions (repetition of 3.11.4)

Any modification of the conditions or amount of fees whose debit has been accepted must be communicated to the holder and obtain their consent, with at least 5 business days notice prior to its application. If the client does not expressly reject the change, the new conditions may be applied after a period not less than 30 calendar days counted from the expiry date of the deadline established for sending or making the statements available, unless certified notification to the client is chosen, in which case the period is reduced to 5 days. In case of changes that result in a reduction of fees or expenses, the new amounts may be applied without waiting for the aforementioned periods.

Funds debited as fees without the prior knowledge of the clients or despite their opposition, in accordance with the preceding provisions, must be reimbursed to the holders within 5 business days following the date the holder files a claim with the entity. Additionally, the entity must recognize the amount of expenses incurred to obtain the reimbursement and the corresponding compensatory interest up to a limit equivalent to 100 % of the observed debits.

4.12. Reversal of automatic debits (repetition of 3.12)

In the agreements that financial entities conclude with holders for participation in automatic‑debit systems for the payment of taxes, public or private service invoices, credit‑card statements, etc., a clause must be included that provides the possibility for the client to order the suspension of a debit up to the business day preceding (inclusive) the due date and the alternative to reverse debits for the total amount of each operation, upon an express instruction from the client, within 30 calendar days counted from the date of the debit. The refund shall be effected within 72 business hours following the date the entity receives the client’s instruction.

4.13. Account statement (updated)

Periodic sending of statements with the detail of recorded movements is not mandatory.

In replacement, the entity’s ATM system must provide, free of charge to the client, a slip showing the balance and the last 20 movements operated.

If the client has used the automatic‑debit service, a semi‑annual statement of movements and payments of taxes, services and other concepts shall be issued free of charge for the client and made available at any branch of the financial entity.

The statement shall indicate the type of account – according to the deposit modalities enabled by the Central Bank – the Uniform Bank Code (CBU) so that the client can enrol in automatic‑debit services, and, in the place determined by the entity, the total amount debited in the period under the concept “Financial Transaction Tax” and the tax‑identification number (CUIT, CUIL or CDI) of the account holders, according to the depository records. It will be obligatory to list the data of up to three holders; when they exceed that number, the total quantity shall also be indicated.

End of Document

Implementation of the "Universal Free Account". Transfer Fees. Cancelled Check Operations

Reference: Circular OPASI 2‑415

Where applicable, entities shall report the following minimum data:

4.13.1. When debits corresponding to the automatic debit service occur:

Name of the service‑providing company, tax‑collecting agency, etc., to which the debited funds were destined.
Identification of the client in the company or entity (surname and name or code or account, etc.).
Concept of the operation that caused the debit (month, bimonth, installment, etc.).
Amount debited.
Date of debit.

4.13.2. When transfers are made:

4.13.2.1. If the account belongs to the originator of the transfer:

Discretionary information at the discretion of the originating company or individual.
Amount transferred.
Date of the transfer.

4.13.2.2. If the account belongs to the recipient of the transfer:

Name of the person or company originating the transfer.
CUIT, CUIL or DNI number of the originator.
Unique reference of the transfer.
Total amount transferred.
Date of the transfer.

Conformity with the movement recorded by the entity will be presumed if, within 60 calendar days after the period has ended, the entity does not have a claim formulation in its possession.

4.14. Account Closure

4.14.1. By the holder’s decision.

The holder may, by presenting a request to the entity, withdraw the total balance (principal and interest) and close the account. The entity shall provide a certificate of the closure, free of charge to the client.

DEPOSIT SAVINGS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS Section 4. Universal Free Account Version: 5a. COMMUNICATION “A” 5127 Effective date: 18/10/2010

4.14.2. By the entity’s decision.

The entity will act when, in its judgment, the client has not complied with the operational conditions detailed in the procedures manual of point 5.10, or when the account has shown no balance or movements for more than one year.

4.14.2.1. General procedure.

The holders will be notified by certified mail, granting a period of no less than 30 calendar days before proceeding with the account closure and the transfer of funds to immobilized balances. The communication shall also reference the fee to be applied to those amounts and the effective date of the fee.

4.14.2.2. Exception.

For accounts whose balances are lower than 50 times the value of the “certified plus letter” (basic service up to 150 g) of the Argentine Post, a notice may be issued through a general‑character publication, once, in two newspaper organs circulating in the localities where the respective entity’s branches are located. That publication, which will contain the data set out in point 4.14.2.1, may be made by each intervening entity, by a group of entities, or by the associations that gather them, expressly mentioning the entities that will apply the provision.

4.14.3. By exceeding the admitted balance.

When it is determined that the limit established in the last paragraph of point 4.7 has been exceeded, the entity shall immediately close the account, transferring the funds to immobilized balances. This will be communicated to the holder by certified mail under the terms established in point 4.14.2.1. Holders covered by this provision may only request the opening of a new universal free account after six months have elapsed from the closure date.

4.15. Deposit Guarantee

The situation of the account with respect to the deposit guarantee insurance system shall be specified. The incorporation of the corresponding legends shall be carried out in accordance with point 6.4 of Section 6.

DEPOSIT SAVINGS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS Section 4. Universal Free Account Effective date: 18/10/2010

4.16. Recommendations for the use of ATMs

At the time of opening an account that involves the delivery of cards for ATM operations, the holder must be notified of the recommendations and precautions to be taken for their use, as contained in point 6.3 of Section 6.

4.17. Delivery of the text of the regulations

The holder shall receive, against a signed receipt, the complete text of the regulations in force on the date the account is opened. The limits established in point 4.7 and the provision of point 4.14.3 shall be especially highlighted. Any modifications to that text shall be communicated to the holder at the first opportunity when the holder visits the entity’s offices for any procedure or operation linked to the account, through a reliable notification or by inclusion in the account statement.

4.18. Debit card

At the holder’s request, a magnetic card shall be provided to each holder that allows operation at ATMs and the other foreseen operations, with two magnetic cards supplied free of charge. Replacements due to demagnetization shall be provided at no cost to the client.

4.19. Other provisions

The client’s waiver of benefits specifically contemplated in these regulations shall not be accepted.

4.20. Transitional provision

Until 31/03/2011, the receipt (talón) showing balance and movements must contain at least the last 10 operations. Afterwards, the provisions of point 4.13 shall apply.

DEPOSIT SAVINGS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS Section 4. Universal Free Account Effective date: 18/10/2010

5.1. Labor Cessation Fund for Construction‑Industry Workers

5.1.1. Intervening entities.

First‑tier commercial banks shall obligatorily open special deposit accounts named "Labor Cessation Fund for Construction‑Industry Workers – Law 22.250", at the request of persons obliged to make contributions to that fund.

5.1.2. Holders.

Each account shall be opened in the name of the worker for whom the employer makes the deposits upon request and without any condition, even if the worker does not possess the corresponding Labor Registration Credential. Only the worker’s unique labor identification code (CUIL) shall be recorded. These accounts shall generate no commissions or any kind of expense for the beneficiary.

5.1.3. Currency.

Argentine pesos.

5.1.4. Yield.

The balances of these accounts shall earn interest calculated based on the daily rate equivalent to the weighted average monthly effective interest rate of savings‑box and term‑deposit accounts in pesos, corresponding to the second business day prior to each day, according to the survey carried out by the Central Bank of the Argentine Republic.

5.1.5. Deposits.

5.1.5.1. No minimum or maximum amounts shall be determined.

5.1.5.2. Deposits may be made in cash, transfers, checks or money orders drawn on the same paying houses that receive the funds. Values charged to other entities shall not be accepted.

5.1.5.3. The following documents shall be used:

i) Special deposit slips, according to the model inserted in point 5.1.10, which the banks shall provide. Four copies shall be produced with the following destinations:

Element 1: for the bank, as proof of payment.
Element 2: for the employer, as proof of deposit.
Element 3: to be delivered by the employer to the worker.
Element 4: to be sent by the employer directly to the Institute of Statistics and Registry of the Construction Industry.
These documents shall be completed by machine or by hand with printed‑type lettering, using ink or ballpoint pen; carbon paper must not be used.

ii) Deposit registers, in triplicate, whose copies shall have the following destinations:

Original: for the bank as a cash receipt.
Duplicate: for the employer as proof of deposit.
Triplicate: to be sent by the employer directly to the Institute of Statistics and Registry of the Construction Industry.
In this case, a slip for each worker shall also be attached, containing the data indicated in the model of point 5.1.10, which, once processed by the bank, shall be delivered by the employer to the corresponding worker. This documentation shall be completed by machine or by hand with printed‑type lettering.

5.1.5.4. Deposits whose corresponding forms do not contain all required data shall not be accepted.

5.1.6. Withdrawals and transfers.

5.1.6.1. Only the total account balance (principal and accrued interest up to the day before the fund movement) may be withdrawn.

5.1.6.2. Withdrawal of funds shall be performed using instruments that have the characteristics of a receipt; therefore the use of checks, vouchers, payment orders or any documents other than a receipt is prohibited.

5.1.6.3. Transfer of the funds to a special account of the same nature that has been opened at another bank in the name of the same worker shall be admitted. Such transfers shall only be carried out at the request of the employer who made the deposits, while the employment relationship persists.

5.1.6.4. Within 48 hours after the termination of the employment relationship, the employer shall request the transfer of the funds to a special account opened in the worker’s name at the branch where the employment contract was executed, or, if not possible, at the nearest banking branch.

5.1.7. Labor Registration Credential and Complementary Mobile Sheet.

5.1.7.1. Procedures related to the issuance of the Credential shall be carried out by the obligated parties before the Institute of Statistics and Registry of the Construction Industry.

5.1.7.2. The employer – duly registered with the Institute – shall print, in triplicate, the Mobile Sheet of the Labor Cessation Fund contained in the aforementioned Credential, which shall be complementary and accessory to it.

5.1.7.3. In case of loss or theft of the Mobile Sheet, the circumstance shall be reported to the bank without delay.

5.1.7.4. Upon presentation of the Mobile Sheet to the bank by the employer (or its successors, or the trustee or liquidator) due to the cessation of the employment relationship, the account balance on that date (principal and interest) shall be recorded immediately and returned on the spot to the presenter.

5.1.7.5. Presentation of the Mobile Sheet shall be required to carry out withdrawals or transfers of funds; the corresponding registrations shall be made on the Mobile Sheet.

5.1.7.6. Entries on the Mobile Sheet shall be made when all required data concerning the employer and the worker are recorded.

5.1.8. Registry.

5.1.8.1. A register of opened accounts shall be kept, containing at minimum the identities of the worker and the employer, the type and number of the worker’s document and the employer’s registration number with the Institute of Statistics and Registry of the Construction Industry.

5.1.8.2. The bank shall assign a number to each special account.

5.1.9. Other provisions.

5.1.9.1. Upon opening the account, the bank shall deliver to the employer, against a signed receipt, two copies of the complete and updated text of these regulations, one of which shall, in turn, be delivered to the worker.

5.1.9.2. Employers shall be obliged to immediately notify the banks of any changes of address, as well as those of the corresponding workers, as soon as they become known.

5.1.9.3. At least once a year, banks shall send to the Institute of Statistics and Registry of the Construction Industry a list of accounts that have had no movement during the previous 24 months, indicating the worker’s name and document, the employer’s name and registration number, the balance as of the reporting date, and the date of the last movement.

5.1.9.4. The situation of the account with respect to the deposit guarantee insurance system shall be specified in accordance with point 6.4 of Section 6.

5.1.10. Deposit slip model

ACCOUNT NO. .................
BANK: ......................................................................................................................

CREDIT NOTE for the special account:
"LABOR CESSATION FUND FOR CONSTRUCTION‑INDUSTRY WORKERS – LAW 22.250"

From: ....................................................................................................................
Surname and names
Address: ..............................................................................................................
Street No.
Locality: ......................................................... Province: ........................................
Document type and No.: ..................................................................................................

CONTRIBUTION FOR THE MONTH OF ........................................... OF ...................

CASH .........................................................................................
Check No. ...................................................... drawn on the house
Money order
TOTAL $
Amount in pesos ........................................................................................................

Surname and names or corporate name of the employer/depositor: .................................................

Address: ..........................................................................................................
Street No.
Locality: ........................................ Province: ........................................
Institute registration No.: .........................................................................................

................................................, ...................... of .............................................. of ..................

...............................................
Depositor’s signature
(1)
RECEIVED BY THE BANK
Seal Bank Teller signature
Copy for (2).

Complete all fields clearly by machine or by hand with printed‑type lettering using ink or ballpoint pen. Carbon paper shall not be used.

(1) Indicate the copy number.
(2) State the recipient of the copy.

5.2. For Closed Circles

5.2.1. Intervening entities.

Financial entities may open "special accounts for closed circles" for entities authorized by the General Inspection of Justice to operate savings plans, individually for each group they manage.

5.2.2. Holders.

Each account shall be opened in the name of the subscribers that form the corresponding group.

5.2.3. Term.

Each deposit must remain for a period of no less than 14 days. Consequently, withdrawals before that period elapse shall not be admitted.

5.2.4. Interest.

5.2.4.1. Rate.

The rate contractually agreed upon, which may not be lower than the prevailing rate for savings‑box deposits nor higher than the rate offered on the day of the deposit for 30‑day term deposits.

5.2.4.2. Capitalization.

According to what is agreed, provided that the duration of the periods does not exceed one month. Interest corresponding to balances subject to the minimum‑stay requirement may only be capitalized after the relevant period has passed. The withdrawal of capitalized interest shall not be governed by the provision of point 5.2.3.

5.2.5. Fund extraction.

Adjusted to point 5.2.3, up to four extractions per calendar month shall be admitted for any concept, without amount limit. An additional extraction shall be admitted to enable account closure, provided each deposit has remained for at least 14 days.

5.2.6. Account statement.

Depository financial entities shall send to the administering society, within 8 calendar days after the end of each calendar month, an account statement detailing deposits, extractions and balances recorded during the period, requesting written confirmation. If the administrator does not receive the statement within that term, it must claim it within the following 15 calendar days. Conformity with the movement recorded by the entity shall be presumed if, within 30 calendar days after the period has ended, no objection is formulated or the statement is not claimed because it was not received. In no case shall the term be less than 10 calendar days from the delivery of the statement by the financial entity.

5.2.7. Closure.

Closure shall occur once the final rendering to the subscribers has been completed, leaving the balances visible – without accruing interest – under the general conditions, with notice to the administering entity at the last registered address.

5.2.8. Other provisions.

The provisions established for savings‑box deposits in points 1.5., 1.9.3., 1.9.4. and 1.13. of Section 1 shall apply.

5.3. Pupillary Usury

The rules established for savings‑box deposits in points 1.2., 1.3. (identification only), 1.5. to 1.8., 1.11. and 1.13. to 1.15. of Section 1 shall apply. The interest rate shall be applied on the total deposit without any limitation.

5.4. Current Account

5.4.1. Intervening entities.

All financial entities may open “Special current accounts for legal persons”, adjusted to this regulation.

5.4.2. Identification and fiscal situation of the holder.

At minimum, the following data shall be required:

Denomination or corporate name.
Real and legal addresses.
Photocopy of the contract or bylaws.
Date and registration number in the corresponding official register.
List of authorities and authorized representatives to use the account, for whom the requirements established for natural persons (point 1.3 of Section 1) shall be fulfilled.

5.4.3. Opening and operation. Safeguards.

Extraordinary safeguards shall be taken to prevent the opening of accounts for non‑existent persons due to the presentation of unauthentic documentation. Entities shall pay attention to the operation of accounts to avoid their use in connection with illicit activities. Internal rules and procedures shall be adopted to verify that the movements recorded in the accounts are reasonable with respect to the activities declared by the clients.

5.4.4. Currencies.

5.4.4.1. Pesos.
5.4.4.2. United States dollars.
5.4.4.3. Other currencies.
At the request of the entities, the Central Bank of the Argentine Republic may authorize the capture of deposits in other currencies.

5.4.5. Deposits and other credits.

5.4.5.1. Deposits through teller or ATMs

When slips are used, they shall contain at minimum the following data:

Name of the financial entity.
Corporate name of the holder and account number.
Amount deposited.
Place and date.
When the deposit involves checks or official payment orders nominative, the name of the issuing entity and the amount of each deposited document.
In cases of bearer checks or checks payable to a specific person – whether or not they contain a “non‑order” clause – that are delivered by the beneficiary to a third party for collection through presentation at the teller or by deposit in an account for electronic clearing, the back of the document shall record the signature and clarification of the mandator or orderer of the collection and his personal identification number – according to the rules on “Identification documents in force” – for natural persons, or CUIT or CDI for legal persons, regardless of whether the mandating document exists. Additionally, one of the following expressions shall be inserted: “in procuration”, “value to be collected” or “for its collection management”, as a manifestation of the effects of that endorsement. The obligation to record the personal identification number or CUIT or CDI, as applicable, and the legend mentioned above rests, indistinctly, on the mandator/orderer and the mandatary/manager.
Seal of the receiving house, unless mechanized security deeds are used.
Alternative means such as magnetic cards or personal‑code identification may be employed to guarantee the genuineness of operations, extending the pertinent deposit receipt issued mechanically. Regarding operations performed through ATMs, entities shall have implemented computer‑security mechanisms that guarantee the genuineness of operations and shall provide the pertinent receipt with the essential data of the operation.

5.4.5.2. Through transfers – including electronic – telephone orders, “Internet”, etc.

The operation's receipt shall be its record in the account statement (point 5.4.10.).

Entities must have implemented computer security mechanisms that guarantee the genuineness of the operations.

5.4.5.3. Other credits, including -among them- those originated in the granting of loans and in the collection of receivables.

5.4.6. Debits.

5.4.6.1. At the counter, under the conditions agreed, using documents that contain the characteristics of a receipt. Other alternative means such as magnetic cards or personal‑code identification that guarantee the genuineness of the operations may be used, extending the pertinent transaction record. Debits may also be contemplated for the sale of “counter checks” and “financial payment checks” issued by the entity and of “cancellation checks”.

5.4.6.2. Transfers, whatever their form – personal, electronic, telephone, via "Internet", etc. – which must be ordered by any of the natural persons included in the list referred to in point 5.4.2.5. Entities must have implemented computer security mechanisms that guarantee the genuineness of operations carried out in a non‑personal manner.

5.4.6.3. Internal debits, automatic for the payment of taxes and services, commissions and other concepts, under the agreed conditions.

5.4.6.4. Withdrawals through ATMs and operations carried out through terminals at points of sale. Entities must have implemented computer security mechanisms that guarantee the genuineness of these.

5.4.6.5. Movements – whatever their nature – may not generate a debit balance.

5.4.7. Remuneration. No interest may be recognized on deposit balances in these accounts.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 5. Specials.
Version: 1a. COMMUNICATION “A” 5127
Effective: 24/09/2010

5.4.8. Agreements to formulate debits.
As a prerequisite to opening an account, the express consent of the holders must be obtained for debiting amounts for the following concepts, to the extent they are agreed.

5.4.8.1. Operations of the entity itself (loan payments, safe‑deposit box rentals, etc.).

5.4.8.2. Collection‑service operations on behalf of third parties, directly contracted with the bank or through those third parties (automatic or direct debits) for the payment of taxes, fees, contributions and dues, public or private utility invoices, credit‑card statements, etc., when the client’s knowledge is assured with a minimum advance of 5 business days prior to the debit date contracted by the account holder.

If the client formalizes his/her adhesion to the automatic debit service through the service‑providing company, tax‑collection agency, etc., for the purpose of performing the debits it will be sufficient the communication that the company or entity sends to the bank notifying the adhesion, whose record may remain in the possession of the company or entity.

The client may formalize his/her adhesion to the automatic debit system through the financial institution where the account is held or through the service‑providing company, tax‑collection agency, etc., insofar as, in the pertinent aspects, the previously indicated requirements are observed. The same option will apply to indicate the disenrollment or termination of a service of this system.

Adhesion to this automatic debit mechanism will be conditioned on the possibility of reversing the operations under the conditions established in point 5.4.9.

5.4.8.3. Freely agreed commissions at the time of opening or subsequently, for the services provided by the entity.
The commissions and expenses must be detailed with mention of amounts and percentages, as well as the dates and/or periodicity of those debits, including, among others, those corresponding to:

Account opening.
Account maintenance.
Issuance and sending of account statements or automatic debits.
Counter operations or with the entity’s ATMs.
Settlement of securities presented for collection or checks excluded from the clearing‑house regime.
Deposits or withdrawals at branches other than those where the accounts are domiciled.
Rejection of third‑party checks.
Provision of deposit slips.
Issuance and delivery of debit cards or cards for ATM use.
Automatic debits.
Use of ATMs of other entities or networks of the country or abroad.
Third‑party deposits (collections).
After‑hours deposits.
Signature certification.
Immobilized balances.

5.4.8.4. Modifications in the conditions or amount of commissions or expenses whose debit has been accepted must be communicated to the holder and obtain his/her consent, with at least 5 business days’ prior notice to its application. Whenever there is no explicit rejection by the client, the new conditions may be applied after a period not less than 30 calendar days, counted from the expiry date of the period established for sending or making the statements available, unless a reliable notification to the client is chosen, in which case that period is reduced to 5 days. In case of changes that imply reductions in commissions or expenses, the new amounts may be applied without waiting for the aforementioned periods. Funds debited for commissions or expenses without the prior knowledge of the clients or despite their opposition, as established above, must be reinstated to the holders within 5 business days following the date on which the holder presents his/her claim before the entity. Additionally, the entity must recognize the amount of the expenses incurred to obtain the reinstatement and the corresponding compensatory interest up to a limit equivalent to 100% of the observed debits.

5.4.9. Reversal of automatic debits.
In the agreements that financial entities conclude with holders for adhesion to automatic debit systems for the payment of taxes, public or private utility invoices, credit‑card statements, etc., a clause must be included that provides the possibility for the client to order the suspension of a debit up to the business day prior – inclusive – to the due date and the alternative to reverse debits for the total of each operation, upon an express instruction from the client, within 30 calendar days counted from the debit date. The refund will be made within the 72 business hours following the date the entity receives the client’s instruction, provided that the originating company of the debit and only in cases where the amount of the requested reversal exceeds $750, does not oppose the reversal because the billing difference has been made effective directly. When dealing with settlements of credit‑card statements of open systems, in replacement of the aforementioned reversal procedure, entities must have mechanisms that allow users to manage through them the reversal of coupons included in the settlements and the reimbursement of the pertinent amounts that have been debited.

5.4.10. Account statement.
At a minimum quarterly and within 10 calendar days from the established closing date, entities must send the holder a statement indicating the type of account according to the capture modalities enabled by the Central Bank, with the detail of debits and credits – whatever their concepts – and the balances recorded for the period covered. The statement must include the Uniform Bank Code (CBU) so that the client can formulate his/her adhesion to automatic debit services and, in the place determined by the entity, the total amount debited during the period as “Financial Transaction Tax” and the tax‑identification key number (CUIT, CUIL or CDI) of the account holders, according to the depository’s records. It will be obligatory to list the data of up to three of its holders; when they exceed that number, the total quantity will also be indicated. If applicable, entities will inform the following minimum data:

5.4.10.1. When debits corresponding to the automatic debit service occur:

Name of the service‑providing company, tax‑collection agency, etc., to which the debited funds were destined.
Identification of the client in the company or entity (surname and name or code or account, etc.).
Concept of the operation causing the debit (month, bimonth, installment, etc.).
Amount debited.
Debit date.

5.4.10.2. When transfers are made:
If the account belongs to the originator of the transfer:

Discretionary information at the discretion of the originating company or individual.
Transferred amount.
Transfer date.

If the account is the recipient of the transfer:

Name of the originating person or company.
CUIT, CUIL or DNI number of the originator.
Unique reference of the transfer.
Total transferred amount.
Transfer date.
It will be presumed that the movement recorded by the entity is accepted if within 60 calendar days after the respective period the entity does not have a claim formulation in its possession.

5.4.11. Account closure.

5.4.11.1. By the holder’s decision. Prior communication to the depository entity, in the times and forms agreed.

5.4.11.2. By the entity’s decision. Prior communication to the holders by certified mail, granting a period not less than 30 calendar days before proceeding with the account closure and transfer of funds to immobilized balances. In the communication, reference will be made to the commission to be applied on those amounts at the expiry of the said period.

5.4.12. Deposit guarantee.
The situation of the account with respect to the deposit guarantee insurance system will be specified. The incorporation of the corresponding legends will be formulated in accordance with point 6.4 of Section 6.

5.4.13. Recommendations for ATM use.
At the time of opening an account that involves the delivery of cards for ATM operation, the holder must be notified of the recommendations and precautions that must be taken for their use, as contained in point 6.3 of Section 6.

5.4.14. Record of information delivery to the client.
Entities must keep archived the proof that the client has been notified that the text of these regulatory rules and any updates are available at the entity, also indicating that they may be consulted via "Internet" at the address www.bcra.gov.ar, a detail that will also be included in the account statements referred to in point 5.4.10.

5.5. Special sight‑deposit accounts in foreign currency.

5.5.1. Involved entities.
Banking entities may open “Special sight‑deposit accounts in foreign currency”, in accordance with this regulation.

5.5.2. Holders.
Official bodies or entities responsible for the execution of loan or donation agreements signed with multilateral credit organizations for financing investment projects.

5.5.3. Identification and fiscal situation of the holder.

5.5.3.1. Natural persons.
The provisions in force for opening savings‑bank accounts will apply.

5.5.3.2. Legal entities.
The provisions in force for opening special current accounts for legal entities will apply.

5.5.4. Currency.
United States dollar or other foreign currencies.

5.5.5. Deposits.
Only deposits in the currency in which the account is opened will be admitted for the channeling of the respective disbursements.

5.5.6. Debits.
Under the agreed conditions, using documents that contain the characteristics of a receipt. Cash withdrawals may only be made at the counter.

5.5.7. Remuneration.
Applicable rates will be determined between the parties. Interest will be settled for elapsed periods not less than 30 days and credited to the account on the dates agreed. Where applicable, the minimum balances required to accrue interest must be specified.

5.5.8. Commissions.
They will be freely agreed at the time of opening or subsequently.

5.5.9. Other provisions.
For fund accreditation, statements, account closure and deposit guarantee, a treatment similar to that established in points 5.4.5 and 5.4.10 to 5.4.12 will apply.

5.6. Special for guarantees of futures and options operations.

5.6.1. Involved entities.
Financial entities may open "Special accounts for guarantees of futures and options operations", in accordance with this regulation.

5.6.2. Holders.
Self‑regulated markets subject to the control of the National Securities Commission. These accounts may be kept on sight at financial entities for the deposit of the guarantees required in futures and options operations conducted in those markets.

5.6.3. Identification and fiscal situation of the holder.
At minimum the following data will be required:

5.6.3.1. Name or corporate name.
5.6.3.2. Real and legal addresses.
5.6.3.3. Photocopy of the contract or bylaws.
5.6.3.4. Date and registration number in the pertinent official register.
5.6.3.5. List of authorities and authorized representatives to use the account, for whom the requirements established for natural persons (point 1.3 of Section 1) must be fulfilled.

5.6.4. Currency.
United States dollars.

5.6.5. Deposits.
Only the accreditation of amounts in United States dollars corresponding to the constitution of the guarantees required by the self‑regulated markets for the execution and maintenance of futures and options contracts will be admitted. For this purpose, foreign‑exchange operations may be carried out in the single and free foreign‑exchange market through the financial entity where the special account is domiciled, by debiting sight‑deposit accounts in pesos. Such operations may be performed by each operator individually or globally by the respective market for the net amount arising from the operators’ commitments.

5.6.6. Debits.
Only for the settlement of the guarantees constituted by the operators at the expiry or cancellation of the operations, which will be converted to pesos through the corresponding foreign‑exchange operation in the single and free foreign‑exchange market, using the procedure provided in point 5.6.5.

5.6.7. Offsets.
If on a given day there is a release of guarantee margins due to expiries or contract cancellations and, at the same time, new guarantees need to be reinstated or constituted, the operations may be offset and, where appropriate, the remainder settled.

5.6.8. Other provisions.
Regarding commissions, the corresponding amounts must be debited from the peso accounts that the respective self‑regulated market holds at the financial entity. With respect to statements, account closure and deposit guarantee, a treatment similar to that established in points 5.4.10 to 5.4.12 will apply. Likewise, transfers of funds may be made between the special accounts enabled under this regulation.

5.7. Savings account for the payment of the universal child allowance for social protection – Decree No. 1602/09 –.

5.7.1. Opening.
Financial entities will open these accounts at the request of the National Social Security Administration (ANSES) in the name of the holders indicated by that body, providing at minimum: surname, name and national identity document.

5.7.2. Identification of the holders.
Verification will be carried out by presenting the National Identity Document of the holders, in accordance with article 14 ter – paragraph b – of Law 24.714 and its amendments.

5.7.3. Deposits.
Only the accreditation of the benefits corresponding to the allowance, tax refunds, financial‑entity promotions and other concepts derived from the same benefit, in pesos, will be admitted.

5.7.4. Charge‑free movements.
At minimum, the following operations:

Account opening and maintenance.
Three cash withdrawals or balance/movement inquiries per calendar month, performed at the country’s ATMs that correspond to the same financial entity that issued the debit card delivered for operating the account.
Purchases and/or cash withdrawals in affiliated merchants, made with the debit card.
Movements – whatever their nature – may not generate a debit balance.

5.7.5. Debit card.
A magnetic card must be provided – free of charge – to the account holder, allowing operation with ATMs and the other operations foreseen in point 5.7.4. Replacements due to demagnetization must be provided at no cost to the client.

5.7.6. Account statement.
Periodic statements with the detail of movements recorded in the accounts are not mandatory. In their place, the depositing bank’s ATM system must provide a slip showing the balance and the last ten operations performed. This does not preclude the beneficiary from personally requesting the account statement at the corresponding branch.

5.7.7. Account closure.
Accounts will be closed when no debit or credit movements are recorded for a period of 180 consecutive days. At that time, the remaining funds will be transferred to ANSES without the need for any further procedure, with the sole exception of balances corresponding to credits linked to tax benefits and/or refunds from promotions, which will become immobilized balances as provided in point 6.7 of Section 6.

5.7.8. Delivery of the rules to the holders.
Financial entities must deliver to the holders the full text of points 5.7.2 to 5.7.8 of this regulation together with the conditions linked to the allowance card, at the time the debit card is handed over, and the depository bank must keep proof of its availability to the interested party, which may be formalized in a prepared list.

5.7.9. Safekeeping of documentation.
The documentation related to the opening and deposit of allowances in these accounts (copy of the holder’s national identity document, lists provided by ANSES for opening and accrediting the benefits, proof of delivery of the rules and the card foreseen in point 5.7.8) must be kept in a manner that facilitates compliance with the control and supervision of the applying authority established by Decree 1602/09 or, as the case may be, the legal norm that stipulates it.

6.1. Identification.
At the moment of opening the account, the natural‑person holders or those on whose behalf an account is registered, legal representatives of legal entities, etc., will use any of the documents indicated below:

6.1.1. Argentines.

i) National Identity Document.
ii) Enrollment Booklet.
iii) Civic Booklet.

6.1.2. Foreigners residing from 01/01/1970.
National Identity Document – Foreigners.

6.1.3. Foreigners who entered the country permanently or temporarily, with a stay longer than three months and not yet domiciled.

i) Passport of neighboring countries.
ii) Identity card issued by the competent authority of the respective neighboring countries.

6.1.4. Foreigners with less than three months’ stay in the country.

i) Entry permit to the Republic, issued by the National Directorate of Migration or by an Argentine consular officer.
ii) Passport – visa by Argentine consular authority, unless treaties signed by the Republic exempt it.
iii) Individual card, issued by the National Directorate of Migration.
iv) Identity card or any other identifying document issued by the competent authority of the respective neighboring countries.

6.1.5. Foreigners who are international officials and diplomatic representatives.
Identification documents corresponding issued by the Ministry of Foreign Affairs, International Trade and Worship.

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 6. General provisions.
Version: 4a. COMMUNICATION “A” 5127
Effective: 24/09/2010

6.1.6. Others.
According to the provisions of the rules on "Identification Documents in force".

6.2. Fiscal situation.
Legal or natural persons who are owners or on whose behalf an account is registered, legal representatives, etc., shall inform their situation to the Federal Administration of Public Revenues (AFIP) by providing the corresponding element, as indicated below:
6.2.1. Unique Tax Identification Code (CUIT).
6.2.2. Unique Labor Identification Code (CUIL).
6.2.3. Identification Code (CDI). Depository entities shall manage compliance with this requirement through the process generated for that purpose by the Federal Administration of Public Revenues.

6.3. Recommendations for the use of automated teller machines.
6.3.1. Financial entities that provide magnetic cards to be used for operations with ATMs shall alert and recommend to users the precautions they must take to ensure proper use.
The notification of these recommendations shall be made at the moment of opening the account that involves the delivery of a card to be used in ATMs, without prejudice to the convenience of periodically issuing further reminders. In addition, visible posters with the precautions that users of the system must adopt shall be placed – in a visible form – in the places where ATMs are located.

6.3.2. The following recommendations and safeguards, at a minimum, shall be communicated to users:
6.3.2.1. Request from bank personnel all the information deemed necessary about the use of ATMs at the first access to the service or whenever any doubt arises thereafter.

DEPÓSITOS DE AHORRO, CUENTA SUELDO,
B.C.R.A. CUENTA GRATUITA UNIVERSAL Y ESPECIALES
Section 6. General provisions.
Version: 1a. COMMUNICATION “A” 5127
Effective date:
24/09/2010

6.3.2.2. Change the identification code, access code, personal password or PIN assigned by the entity to one selected by the user, which must not be the user's personal address, date of birth, or any other number that could be easily obtained from documents kept in the same place as the card.
6.3.2.3. Do not disclose the personal password number nor write it on the magnetic card provided or on a paper kept with it, as this code is the key to entering the system and therefore to the accounts.
6.3.2.4. Do not type the personal password in the presence of third parties, even if they claim to help, nor hand the magnetic card to third parties, as it is for personal use.
6.3.2.5. Keep the magnetic card in a safe place and periodically verify its existence.
6.3.2.6. Do not use ATMs when there are abnormal operation messages or situations.
6.3.2.7. When making a deposit operation, ensure that the envelope containing cash or checks is inserted together with the first receipt issued by the ATM during that transaction, in the specific slot for that function, and retrieve the receipt that the machine delivers at the end of the operation, which will serve for any later claim.
6.3.2.8. Do not forget to withdraw the magnetic card at the end of the operations.
6.3.2.9. If the ATM retains the card or does not issue the corresponding receipt, immediately report the situation to the bank with which the operation is performed and to the bank that administers the ATM.
6.3.2.10. In case of loss or theft of the card, immediately report the situation to the issuing bank.
6.3.2.11. In case of withdrawals where there are differences between the receipt issued by the ATM and the amount actually withdrawn, communicate this circumstance to the banks where the operation was performed and to the system administrator, in order to resolve the problem.

DEPÓSITOS DE AHORRO, CUENTA SUELDO,
B.C.R.A. CUENTA GRATUITA UNIVERSAL Y ESPECIALES
Section 6. General provisions.
Version: 1a. COMMUNICATION “A” 5127
Effective date:
24/09/2010

6.4. Deposit guarantee.
6.4.1. Legend.
In all representative documents of passive operations (deposit slips, receipts issued by ATMs, account statements, etc.) the following legend shall appear, visibly printed on the front or back of them:

"Deposits in pesos and foreign currency are guaranteed up to $30,000. In accounts in the name of two or more persons, the guarantee shall be prorated among the holders. In no case shall the total guarantee per person exceed $30,000, regardless of the number of accounts and/or deposits. Law 24.485, Decree 540/95 and Comm. "A" 2337 and their amendments and complements. Deposits attracted at rates higher than the reference rate and those that have received special incentives or stimuli in addition to the interest rate are excluded."

If any of the situations cited in the last sentence occurs or the deposit concerns securities, the following legend shall be placed visibly on the front of the documents:

"Deposit without guarantee"

This last requirement shall not apply when operations are carried out through ATMs belonging to networks that enable operational interconnection of financial entities.

6.4.2. Information to the client.
Entities shall keep the full and updated texts of Law 24.485, Decree 540/95 (updated text) and the regulations on the "Deposit Guarantee System" available to their clientele.

6.4.3. Advertising.
6.4.3.1. Inside financial entities.
On the boards where offered rates are displayed to the public, the scope of the guarantee (type of operation, whether it is covered by the regime, percentage and amount guaranteed, exceptions, etc.) shall be transcribed visibly.
6.4.3.2. In other media.
In advertising carried out by financial entities related to the deposits they attract, the existence of a limited guarantee for its return or its inexistence, as the case may be, shall be indicated.

DEPÓSITOS DE AHORRO, CUENTA SUELDO,
B.C.R.A. CUENTA GRATUITA UNIVERSAL Y ESPECIALES
Section 6. General provisions.
Version: 1a. COMMUNICATION “A” 5127
Effective date:
24/09/2010

6.5. Interest rates.
6.5.1. Forms of agreement.
Interest rates shall be freely agreed between financial entities and clients, in accordance with the rules governing each type of operation.
6.5.2. Base and settlement modalities.
Interest shall be accrued on the capital from the date of receipt of funds until the day before maturity, withdrawal, or the closing day of the calculation period, as the case may be, and shall be capitalized or paid in arrears according to the agreed conditions.
6.5.3. Fixed divisor.
365 days.
6.5.4. Expression.
Interest rates shall be expressed in a homogeneous and transparent manner within the financial market so that investors have comparable elements for evaluation.
6.5.5. Disclosure in documents.
In all operations, regardless of their instrument, contracts, receipts, or other client‑related documents where rates or interest amounts are specified shall expressly state the following aspects.
6.5.5.1. Contractually agreed annual interest rate, in percent with two decimals.
6.5.5.2. Effective annual interest rate equivalent to the calculation of interest in arrears, in percent with two decimals.
6.5.5.3. Whether the interest rate is fixed or variable; in the latter case, the parameters to be used for its determination and the frequency of change shall be indicated.

DEPÓSITOS DE AHORRO, CUENTA SUELDO,
B.C.R.A. CUENTA GRATUITA UNIVERSAL Y ESPECIALES
Section 6. General provisions.
Version: 1a. COMMUNICATION “A” 5127
Effective date:
24/09/2010

6.5.6. Calculation of the effective annual interest rate.
In operations where, according to the contract, interest is calculated in arrears for periodic or full settlements and proportionally from an annual rate, the following formula shall be used:

i = {[(1 + i_s * m / df * 100)^{df/m} - 1]} * 100
``` where
* i: effective annual interest rate, equivalent to the calculation of interest in arrears on balances, in percent with two decimals.
* i_s: contractually applied annual interest rate, in percent.
* m: number of days corresponding to each sub‑period of interest settlement when interest is charged periodically, or of the operation when it is charged in a single occasion. When such sub‑periods are fixed days for monthly, bimonthly, etc., they shall be considered as 30 days, 60 days, etc., respectively.
* df: 365.

6.5.7. Advertising.
6.5.7.1. Inside financial entities.
Entities shall display on boards placed in public‑facing offices information about interest rates, in percent with two decimals, for the different investment modalities they offer to clients, for operations in pesos, foreign currency or securities, with the following detail:

i) Annual nominal interest rate.
ii) Effective annual interest rate.

6.5.7.2. In other media or places.
In advertisements or publications made through any graphic medium (newspapers, magazines, outdoor billboards, etc.) concerning the various investment alternatives offered, entities shall display in a legible and highlighted manner the following information:

i) Annual nominal interest rate.
ii) Effective annual interest rate.

6.6. Return of deposits.
Special accounts, by virtue of the powers conferred by article 2185, paragraph 4, of the Civil Code and article 579 of the Commercial Code, are subject to the following conditions, to which interested parties are bound without any right of claim.
6.6.1. Reciprocal or indistinct order accounts.
The entity shall deliver the total or partial deposit to any of the holders, even in cases of death or subsequent incapacity of the others, provided there is no contrary judicial order.
6.6.2. Joint or collective order accounts.
The entity shall deliver the deposit only upon receipt signed by all holders and, in case of death or incapacity of some of them, a judicial order shall be required to dispose of the deposit.
6.6.3. Accounts in the name of one or more persons and ordered to another.
6.6.3.1. Entities shall, in all cases, deliver the deposit to the person to whose order the account is, except as provided in 6.6.3.2.
6.6.3.2. If death or incapacity of the person to whose order the account is occurs, the deposit shall be delivered to its holder or to the person who administers the assets according to the Civil Code. In the event of the account holder’s death, the deposited funds shall be at the disposal of the heirs.

6.7. Immobilized balances.
6.7.1. Transfer.
As a general rule, funds deposited in deposit accounts shall be transferred to "Immobilized Balances" at the moment of account closure.

6.7.2. Notice to holders.
The application of commissions on immobilized balances shall be admitted only to the extent that entities communicate them in advance to the holders, referencing the amount – which may not exceed, per calendar month, the value of the postal piece “certified letter plus” (basic service up to 150 g) of the Argentine Post Office as of the effective date and shall not be less than 30 calendar days from the communication.
Communications shall be sent by mail using the indicated certified postal piece.

6.8. Discriminatory acts.
Entities shall adopt the necessary safeguards to avoid discriminatory acts toward their clientele that originate from any physical disability of persons, applying, where appropriate, the provisions of the substantive legislation (articles 52, 54 and 55 of the Civil Code).

6.9. Mandatory account closure.
The account shall be closed if no deposit or withdrawal movements have been recorded by the holder(s) or if no balance is recorded, in either case for 180 consecutive days.
Only commissions for any concept may be charged while the account balance exists; under no circumstances may debtor balances be accrued or generated from such a situation.
The closure shall be communicated in advance to the holders by a note sent by certified postal piece or, where applicable, by the statement or extract corresponding to this product or other products the client holds with the entity.
The notice shall grant a period of at least 30 consecutive days for the client to choose to keep the account before proceeding with its closure.
These provisions shall apply to the operations contemplated in this regulation, except where a specific treatment for closure exists or the opening has been ordered by the Judiciary.

6.10. Procedure manual.
Financial entities shall detail in a procedures manual, which shall be available to the clientele, the conditions that will be observed for the opening, operation and closure of savings accounts, basic accounts and special current accounts for legal persons, which shall be based on objective criteria and may not set preferential guidelines for persons or linked companies, taking into account the definitions adopted by the Central Bank of the Argentine Republic.

The manual shall be submitted for the knowledge of the Board of Directors, or equivalent authority, and the entity’s Audit Committee, before 01/09/2008, a circumstance that shall be recorded in the respective minutes. This procedure shall be observed for future modifications and/or adjustments of the same.

7.1. Basic account.
Entities that choose not to offer the "Basic Account" shall inform this within 15 consecutive days counted from 06/06/2008, by a note signed by their legal representative addressed to the Superintendency of Financial and Currency Entities. Otherwise, it shall be understood that they have definitively and irrevocably opted to offer it, from 01/09/2008, under the terms of Section 3.

7.2. Contribution Book for the Labor Cessation Fund for Construction Industry Workers.
The Contribution Book (art. 13 of Law 22.250) in its traditional format, in the possession of employers or workers, shall remain in force and circulate simultaneously with the Complementary Mobile Sheet of the Labor Cessation Fund and the Labor Registration Credential referred to in point 5.1.7 of Section 5, until its total replacement occurs as a consequence of having completed all available sheets in that book, its loss, or the lapse of two years counted from 13/03/2009, at which point it will expire. In the cited cases or when the worker lacks a book, the provisions of point 5.1.7 of Section 5 shall apply.
While this expiry does not operate, the following procedure shall remain in force:
7.2.1. In case of loss or theft of the Contribution Book, the circumstance shall be communicated without delay to the bank and to the Institute of Statistics and Registry of the Construction Industry, and the Labor Registration Credential mentioned in point 5.1.7 of Section 5 shall be requested from that entity.
7.2.2. Upon presentation of the book to the bank by the employer (or its successors, or the trustee or liquidator) due to termination of the employment relationship, the account balance on that date (principal and interest) shall be recorded immediately and the book shall be returned on the spot to the presenter.
7.2.3. Presentation of the book shall be required to carry out withdrawals or fund transfers, in which case the corresponding registrations shall be made in it.
7.2.4. Entries in the book shall be made when all required data corresponding to the employer and the worker are recorded.

---

TEXTO ORDENADO NORMA DE ORIGEN
Sec. Punto Pár. Com. Anexo Cap. Sec. Punto Pár.
OBSERVACIONES
1.1.1. "A" 1199
"A" 1820 I
I 2.
2.1.
S/Com. "A" 1823 (pto. 2°),
2192 (pto 1.), 2241 (Cap. I
- Section 1.) and 4368.
1.1.2. “A” 1199
“A” 1823
I 2.
2.1.
1.1.3. “A” 1199
“A” 1823
I 2.
2.1.
1.1.4. “A” 1199
“A” 1823
I 2.
2.1.
1.2. “A” 1653
“A” 1820 I
I 2.1.3.1.
2.2.
S/Com. “A” 2061 (pto. 3.),
3247 (pto.1.), 4358 y
5035.
1.3. “A” 3042 1. 1.3.1. S/Com. “A” 3247 (pto. 1.)
1° “A” 4809
2° “A” 1199 I 5.7. S/Com. “A” 4809.
3° “A” 1199 I 5.7.
4° “A” 2814 1. 1.1.1.1.
1.4.
5° “A” 2814 1. 1.1.1.2.
1.5.1. “A” 1199 I 2.
1.5.2. “A” 1820 I 2.3.
1.5.3. “A” 1820 I 2.3.
1.6. “A” 3042 S/Com. “A” 3247, 4936,
4971 (pto. 16.) and 5000.
1° “A” 1653 I 2.1.3.2.3. 1°
“A” 1820 I 2.5. 2°
1.7.1.
2° “A” 3042
1° “A” 1653 I 2.1.3.2.3. 2°
2° “A” 1653 I 2.1.3.2.3. 2°
1.7.2.
3° “A” 3042
1° “A” 1653 I 2.1.3.3. S/Com. “A” 2061 (pto. 3.)
2° “A” 3042
1.7.3.
3° “A” 3042
1.7.4. “A” 1653 I 2.1.3.2.2.
1.7.5. “A” 3042
1° “A” 1653 I 2.1.1.1.
“A” 1820 I 2.4.
2° “A” 1653 I 2.1.1.1.
“A” 1820 I 2.4.
1.8.1.
3° “A” 3042
1.8.2. “A” 2468 1. 2°
1.9. “A” 2468 1. 1°
1.9.1. “A” 1653 I 2.1.3.2.2.
3.3.
1° “A” 2508 Único 1° S/Com. “A” 3323.
2° “A” 2621 1. 1°
1.
1.9.2.
3° “A” 2508 Unico 5°
B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE
REGULATIONS ON “SAVINGS DEPOSITS, SALARY ACCOUNT, UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS”

DEPÓSITOS DE AHORRO, CUENTA SUELDO, CUENTA GRATUITA UNIVERSAL Y ESPECIALES
TEXTO ORDENADO NORMA DE ORIGEN
Sec. Punto Pár. Com. Anexo Cap. Sec. Punto Pár.
OBSERVACIONES
4° “A” 3042
1.9.3. “A” 2468 1. 1°
1°
2°
3°
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
4°
5°
6°
2° “A” 2468 1. 5°
1.9.4.
3°
2°
3°
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
6°
5°
6°
1.10. 1° “A” 2621 3.
2° “A” 2508 Unico 3°
1° “A” 3042 S/Com. “A” 4809 y “A”
4971 pto. 16 y 5022
1.11.
2° “A” 3042 S/Com. “A” 3323,
4809, 5000 y 5022
1.11.1. “A” 2621 2.
1.11.2. “A” 3014 3. 3.7.1.6.
4° “A” 3042
1.12.1. “A” 3042
1.12.2. “A” 3042 S/Com. “A” 4809.
1.12.2.1 “A” 1199 I 5.2.2. 1°y 2°
“A” 1653 I 2.1.3.4.
1.12.2.2 “A” 1199 I 5.2.2. 3° S/Com. “A” 4809.
1.13. “A” 1199 I 6.3. S/Com. ”A” 2807-pto. 6
“A” 1820 I 2.6.
1.14. “A” 2530
1.
1.15. “A” 1653 I 2.1.3.5.
2.1. “A” 2590 I 4.4.1. S/Com. “A” 5091
1° “A” 2590 I 4.4.2. S/Com. “A” 5091
2.2. 2° “A” 2956 S/Com. “A” 5091
3° “A” 5091
2.3. “A” 2590 I 4.4.3.
S/Com. “A” 4047 y
5091.
2.4. “A” 2590 I 4.4.4. S/Com. “A” 5091
2.5. “A” 2590 I 4.4.5. S/Com. “A” 5091
2.6. “A” 2590 I 4.4.6.
S/Com. “A”4809 y
5091.
2.7. “A” 2590 I 4.4.7. S/Com. “A” 5091
2.8. “A” 2590 I 4.4.8. S/Com. “A” 5091
“A” 2956 I 4.4.9. S/Com. “A” 5091
2.9.
“A” 2590 S/Com. “A” 5091
2.10. “A” 2590 I 4.4.10. S/Com. “A” 5091
2.11. “A” 2590 I 4.4.11. S/Com. “A” 5091
1° “A” 2590 I 4.4.12. S/Com. “A” 5091
2° “A” 2590 S/Com. “A” 5091
2.
2.12.
3º “A” 2956 S/Com. “A” 5091
3.1. “A” 4809 1.
3.2. “A” 4809 1. S/Com. “A” 5035.
3.3. “A” 4809 1.
3.4. “A” 4809 1.
3.
3.5. “A” 4809 1.

DEPÓSITOS DE AHORRO, CUENTA SUELDO, CUENTA GRATUITA UNIVERSAL Y ESPECIALES
TEXTO ORDENADO NORMA DE ORIGEN
Sec. Punto Pár. Com. Anexo Cap. Sec. Punto Pár.
OBSERVACIONES
3.6. “A” 4809 1.
3.7.
“A” 4809 1. S/Com. “A” 4936, 4971
(pto. 17.) and 5000.
3.8. “A” 4809 1.
3.9. “A” 4809 1.
3.10. “A” 4809 1.
3.11. “A” 4809 1.
3.12. “A” 4809 1.
3.13. “A” 4809 1.
3.14. “A” 4809 1.
3.15. “A” 4809 1.
3.16. "A" 4809 1.
3.17. "A" 4809 1.
3.18. "A" 4809 1.
3.
3.19. "A" 4809 1.
4.1. "A" 5127
4.2. "A" 5127
4.3. "A" 5127
4.4. "A" 5127
4.5. "A" 5127
4.6. "A" 5127
4.7. "A" 5127
4.8. "A" 5127
4.9. "A" 5127
4.10. "A" 5127
4.11. "A" 5127
4.12. "A" 5127
4.13. "A" 5127
4.14. "A" 5127
4.15. "A" 5127
4.16. "A" 5127
4.17. "A" 5127
4.18. "A" 5127
4.19. "A" 5127
4.
4.20. "A" 5127
"A" 1199 I 4.2.1.
S/Com. "A" 4532 y "B"
5.1.1. 9516.
"B" 6360
1° "A" 1199 I 4.2.2.
S/Com. "A" 3042 y "B"
5.1.2. 9516.
2° "A" 3042
5.1.3. "A" 1199 I 4.2.
5.1.4. "A" 1199 I 4.2.3.
S/Com. "A" 1877, pto.
3°.
5.1.5.1. "A" 1199 I 4.2.4.1.
5.1.5.2. "A" 1199 I 4.2.4.2.
5.1.5.3. "A" 1199 I 4.2.4.3.
5.1.6.1. "A" 1199 I 4.2.5.1.
5.1.6.2. "A" 1199 I 4.2.5.2.
5.1.6.3. "A" 1199 I 4.2.5.3.
5.
5.1.6.4. "A" 1199 I 4.2.5.4.

DEPÓSITOS DE AHORRO, CUENTA SUELDO, CUENTA GRATUITA UNIVERSAL Y ESPECIALES
TEXTO ORDENADO NORMA DE ORIGEN
Sec. Punto Pár. Com. Anexo Cap. Sec. Punto Pár.
OBSERVACIONES
5.1.7. "A" 1199 I 4.2.6. S/Com. "B" 9516.
5.1.7.1. "A" 1199 I 4.2.6.1. S/Com. "B" 9516.
5.1.7.2. "B" 9516
5.1.7.3. "A" 1199 I 4.2.6.2. S/Com. "B" 9516.
5.1.7.4. "A" 1199 I 4.2.6.4. S/Com. "B" 9516.
5.1.7.5. "A" 1199 I 4.2.6.3. S/Com. "B" 9516.
5.1.7.6. "A" 1199 I 4.2.6.5. S/Com. "B" 9516.
5.1.8.1. "A" 1199 I 4.2.7.1.
5.1.8.2. "A" 1199 I 4.2.7.2.
5.1.9.1. "A" 1199 I 4.2.8.1.
5.1.9.2. "A" 1199 I 4.2.8.2.
5.1.9.3. "A" 1199 I 4.2.8.3.
5.1.9.4. "A" 3042
5.1.10. "A" 1199 I 4.2.9. S/Com. "B" 9516.
5.2.1. "A" 1247 4.3.1.
5.2.2. "A" 1247 4.3.2.
5.2.3. "A" 1247 4.3.3.
5.2.4.1. "A" 1247 4.3.4.1. S/Com. "A" 3042.
5.2.4.2. "A" 1247 4.3.4.2.
5.2.5. "A" 1247 4.3.5.
5.2.6. "A" 1247 4.3.6.
5.2.7. "A" 1247 4.3.7.
5.2.8. "A" 1247 4.3.8.
5.3. "A" 1199 I 4.1.
5.4. "A" 3250 1.
5.4.1. "A" 3250 1.
5.4.2. "A" 3250 1.
5.4.3. "A" 3250 1.
5.4.4. "A" 3250 1.
5.4.5. "A" 3250 1. S/Com. "A" 4936, 4971
(pto. 18.) and 5000.
5.4.6. "A" 3250 1.
5.4.7. "A" 3250 1. S/Com. "A" 5068.
5.4.8. "A" 3250 1.
5.4.9. "A" 3250 1.
5.4.10. "A" 3250 1. S/Com. "A" 3014 (pto.
3.7.1.), 3323 and 4809.
5.4.11. "A" 3250 1.
5.4.12. "A" 3250 1.
5.4.13. "A" 3250 1.
5.4.14. "A" 3250 1.
5.5. "A" 3583 1 S/Com. "A" 3827, pto. 3.
5.6. "A" 3566 1. S/Com. "A" 4602, points 1 and 2.
5.
5.7. "A" 5007

# Savings Deposits, Payroll Account, Universal Free Account and Special Accounts

**Ordered Text Origin Rule**

| Reference | Observations |
|-----------|--------------|
| 6.1. | "A" 3042 |
| 6.1.1. | "A" 2885 1. |
| 6.1.2. | "A" 2885 2. 2.2. |
| 6.1.3. | "A" 2885 2. 2.3. |
| 6.1.4. | "A" 2885 2. 2.4. |
| 6.1.5. | "A" 2885 2. 2.5. and 2.6. |
| 6.1.6. | "A" 3042 |
| 6.2. | “A” 1891 No commission. "A" 1922, 3323 and 4875. |
| 6.2.1° | "A" 2530 1° |
| 6.2.2° | "A" 2530 3° and |
| 6.2.4° | |
| 6.3.1. | |
| 6.3.1.3° | "A" 2530 5° |
| 6.3.2. | "A" 2530 2° |
| 6.4.1. | "A" 1199 |
| 6.4.1.1 | "A" 1820 I |
| 6.4.1.2 | I 6.3. |
| 6.4.1.3 | 2.6. |
| 6.4.1.4 | No commission "A" 2807 (pt. 6 – 1° and 2° para.) and 3270. |
| 6.4.2. | "A" 2807 6. 3° |
| 6.4.3.1. | "A" 2807 6. 5° |
| 6.4.3.2. | "A" 2807 6. 4° |
| 6.5.1. | "A" 1199 I 5.3.1. |
| 6.5.2. | "A" 1199 I 5.3.2. |
| 6.5.3. | "A" 1199 I 5.3.3. |
| 6.5.4. | "A" 3042 |
| 6.5.5. | "A" 1199 I 5.3.4. |
| 6.5.6. | "A" 1199 I 5.3.4.1. |
| 6.5.6.1 | and |
| 6.5.6.2 | 5.3.4.3. |
| 6.5.7. | "A" 627 1. |
| 6.6. | "A" 1199 I 5.1. |
| 6.6.1. | "A" 1199 I 5.1.1. |
| 6.6.2. | "A" 1199 I 5.1.2 |
| 6.6.3. | "A" 1199 I 5.1.3. |
| 6.7.1. | "A" 1199 I 5.2.1. No commission. "A" 3042. |
| 6.7.2. | "A" 1199 I 5.2.2. No commission. "A" 3042 and 4809. |
| 6.8. | "B" 6572 |
| 6.9. | “A” 4809 6. |
| 6.10. | “A” 4809 7. |
| 7.1. | “A” 4809 1. No commission. “B” 9516. |
| 7.2. | “A” 1199 I 4.2.6. No commission. “B” 9516. |

Circular OPASI 2‑415: Implementation of the “Universal Free Account”. Transfer Fees. Operation of Cancelatory Checks

2010 - YEAR OF THE BICENTENARY OF THE MAY REVOLUTION

ANNEX

Index

1.1. Intervening entities.

1.2. Holders.

1.3. Identification and tax situation of the holder.

1.4. Opening and operation of accounts. Requirements.

SAVINGS DEPOSITS, PAYROLL ACCOUNT, UNIVERSAL FREE ACCOUNT AND SPECIAL ACCOUNTS

1.5. Currencies.

1.6. Deposits and other credits.

1.6.1. Counter deposits under agreed conditions.

1.6.2. Deposits at ATMs.

1.6.3. Transfers – including electronic – telephone orders, via “internet”, etc.

1.6.4. Capitalized interests and other credits.

1.7. Withdrawal of funds.

1.7.1. Counter withdrawal under agreed conditions, using documents that have the characteristics of a receipt.

1.7.2. Through ATMs and operations carried out via terminals at points of sale.

1.7.3. Transfers – including electronic – telephone orders, via “internet”, etc.

1.7.4. Internal automatic debits for payment of taxes and services, commissions and other concepts, under agreed conditions.

1.7.5. Movements – whatever their nature – may not generate a debit balance.

1.8. Remuneration.

1.8.1. Interests.

1.8.2. Other modalities.

1.9. Agreements to formulate debits.

1.9.1. Operations of the entity itself (loan repayment, safe‑box rental, etc.).

1.9.3. Fees freely agreed at opening or subsequently, for services rendered by the entity.

1.9.4. Modifications to the conditions or amounts of fees or expenses whose debit has been accepted must be communicated to the holder and obtain their consent at least 5 business days prior to their application.

1.10. Reversal of automatic debits.

1.11. Account summary.

1.11.1. When debits corresponding to the automatic‑debit service occur:

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 1. Savings bank. Version: 9a. COMMUNICATION “A” 5127 Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 1. Savings bank. Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 2. Salary account. Version: 5a. COMMUNICATION “A” 5127 Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 2. Salary account. Version: 4a. COMMUNICATION “A” 5127 Effective: 24/09/2010

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 3. Basic account. Effective: 24/09/2010

3.8.1. Over the counter: under agreed conditions, using documents that have the characteristics of a receipt.

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 3. Basic account. Version: 10a. COMMUNICATION “A” 5127 Effective: 24/09/2010

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS Section 3. Basic account. Version: 10a. COMMUNICATION “A” 5127 Effective: 24/09/2010

3.11.3. Fees.

3.11.3. Fees

3.11.4. Modification of fee conditions

3.12. Reversal of direct debits

3.13. Account statement

3.13.1. When debits correspond to the direct‑debit service:

3.13.2. When transfers are made:

3.13.2.1. If the account belongs to the originator of the transfer:

3.13.2.2. If the account is the recipient of the transfer:

3.14. Account closure

3.14.1. By the holder’s decision

3.14.2. By the entity’s decision

3.14.2.1. General procedure

3.14.2.2. Exception

3.15. Deposit guarantee

3.16. Recommendations for ATM use

3.17. Delivery of the text of the rules

3.18. Debit card

3.19. Other provisions

4.1. Intervening entities

4.2. Holders

4.3. Identification of the holder

4.4. Opening and safeguards

4.5. Currency

4.6. IT security

4.7. Deposits and other credits

4.7.1. Counter‑deposit under agreed conditions

4.7.2. Deposits at ATMs and self‑service terminals within the national territory

4.7.3. Transfers – including electronic – telephone orders, via “internet”, etc.

4.7.4. Capitalised interest and other credits

4.8. Fund extraction

4.8.1. Counter‑withdrawal

4.8.2. Through ATMs and operations carried out via terminals at points of sale within the national territory

4.8.3. Transfers – including electronic – telephone orders, via “internet”, etc.

4.8.4. Internal automatic debits for payment of taxes and services, commissions and other concepts, under the agreed conditions.

4.8.5. Purchases in affiliated merchants, made with a debit card

4.8.6. Movements – whatever their nature – may not generate a negative balance.

4.9. Charge‑free movements

4.10. Remuneration

4.11. Agreements to formulate debits

4.11.3. Fees

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 1. Savings bank.
Version: 9a. COMMUNICATION “A” 5127
Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 1. Savings bank.
Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 2. Salary account.
Version: 5a. COMMUNICATION “A” 5127
Effective: 24/09/2010

SAVINGS DEPOSITS, SALARY ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 2. Salary account.
Version: 4a. COMMUNICATION “A” 5127
Effective: 24/09/2010

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Effective: 24/09/2010

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Version: 10a. COMMUNICATION “A” 5127
Effective: 24/09/2010

SAVINGS DEPOSITS, BASIC ACCOUNT, B.C.R.A. UNIVERSAL FREE ACCOUNT AND SPECIALS
Section 3. Basic account.
Version: 10a. COMMUNICATION “A” 5127
Effective: 24/09/2010