Circular OPASI 2-732: Savings Deposits, Salary Accounts, and Special Accounts. Adjustments.

"Year of the Reconstruction of the Argentine Nation" COMMUNICATION "A" 8181 16/01/2025 TO FINANCIAL ENTITIES:
Ref.: Circular
OPASI 2-732:
Savings Deposits, Salary Accounts, and Special Accounts. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution that, in its pertinent part, provides:

"1- Establish as admitted operations in the "Savings account designated for adolescent minors" –provided for in point 3.10. of the consolidated text on Savings Deposits, Salary Accounts, and Special Accounts–, the debits for the realization of any type of operations permitted by the National Securities Commission to adolescent minors. Included within the aforementioned scope –among others– are the debits associated with the subscription of shares in Open Common Investment Funds of "Money Market" destined for these minors, in accordance with what is established in Resolution 977/23 of the National Securities Commission.

2- Incorporate as admitted currencies for the capture of deposits in the "Savings account designated for adolescent minors" –provided for in point 3.10. of the consolidated text on Savings Deposits, Salary Accounts, and Special Accounts–, the currencies established for the "Savings account" in point 1.5. of the aforementioned regulation.

3- Provide that the limit of admitted credits for the "Savings account designated for adolescent minors" provided for in point 3.10.3. of the consolidated text on Savings Deposits, Salary Accounts, and Special Accounts –of three (3) times the Minimum, Vital, and Mobile Salary, with the possibility of increasing it by express authorization of the minor's legal representative–, is applicable to each account opened by the same holder and by currency.

4- Establish that the opening and subsequent maintenance of the "Savings account" and the "Universal free account" referred to in points 1.3. and 3.11.2. of the consolidated text on Savings Deposits, Salary Accounts, and Special Accounts, respectively, may be based on the Simplified Due Diligence measures recognized by the Financial Information Unit for low-risk clients reached by measures aimed at promoting and/or expanding financial inclusion, without requiring in this regard a sworn declaration by the client regarding that they do not possess more than one deposit account open in the financial system."

-2-
In this regard, we send you the sheets that, in replacement of those previously provided, correspond to incorporate into the consolidated text of the reference. In this sense, it is recalled that on this Institution's website www.bcra.gob.ar, accessing "Financial System - LEGAL AND REGULATORY FRAMEWORK - Consolidated texts and summaries - Consolidated texts of general regulation", the modifications made with text highlighted in special characters (strikethrough and bold) will be found. We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Principal Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation

ANNEX

However, the opening and subsequent maintenance of the account may be based on the Simplified Due Diligence measures recognized by the Financial Information Unit (UIF) for low-risk clients reached by measures aimed at promoting and/or expanding financial inclusion.

1.4. Opening and operation of accounts. Safeguards.
The opening of a savings account may not be conditioned on the acquisition of any other financial product and/or service nor integrate any multiproduct package. Furthermore, regarding identity documents, the provisions set forth in Section 4. of the TO on Valid Identification Documents must be observed. In the event of not having sufficient references or assurances regarding the new client, it is recommended to issue instructions so that prior to processing the deposit of checks, aspects such as the age of the account, its activity, permanence of deposits, and any other safeguard that practice makes advisable are taken into account, without harming the legitimate interests of clients who act honestly. Entities must adopt safeguards, both in the opening and subsequently during its use, directed at preventing these accounts from being used in illicit activities. Internal norms and procedures must be adopted to verify that the activity recorded in the accounts is reasonable with respect to the activities declared by the clients.

1.5. Currencies.
1.5.1. Pesos.
1.5.2. United States dollars.
1.5.3. Euros.
1.5.4. Renminbi yuan.
1.5.5. Other currencies.
At the request of the entities, the Central Bank of the Argentine Republic (BCRA) 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 minimum, the following data:
B.C.R.A. SAVINGS DEPOSITS, SALARY ACCOUNTS, AND SPECIAL ACCOUNTS
Section 1. Savings account.
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3.9.9. Custody of documentation.
The documentation related to the opening and deposits in these accounts must be preserved –on paper or electronic media– in a manner that facilitates compliance with the control and supervision of the applying authority.

3.9.10. As far as not provided for and to the extent that they do not oppose what is detailed in the preceding points, the provisions established for deposits in savings accounts are applicable.

3.10. Savings account designated for adolescent minors.
3.10.1. Opening and ownership.
From the age of 13, minors may open this savings account themselves, without the intervention of their legal representatives, as long as there are no indications from them to the contrary. The holder of the account will be the adolescent minor. Any of their legal representatives may be co-holders. Authorized users are not admitted.

3.10.2. Currency.
The provisions of point 1.5. shall apply.

3.10.3. Credits.
In each account opened and by currency, credits are admitted, both through electronic channels and in cash –in the latter case, provided the depositor is identified–, up to the amount equivalent to three (3) times the Minimum, Vital, and Mobile Salary –established by the National Council of Employment, Productivity, and Minimum, Vital, and Mobile Salary for monthly workers who fulfill the full legal working day–, per calendar month. This limit may be increased through express authorization by the person exercising the legal representation of the minor. Financial entities must arrange the necessary means so that the aforementioned limit is not exceeded.

3.10.4. Withdrawal of funds.
Withdrawals may be made, at the option of the holder, according to any of the following alternatives and in accordance with the conditions provided in point 1.7.:
3.10.4.1. Through ATMs, at points of sale, or at the counter.
3.10.4.2. Through purchases and/or cash withdrawals at affiliated merchants, made with the debit card.
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Section 3. Special.
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3.10.4.3. Through payments made via electronic channels (ATM, Internet banking –home banking–, etc.).
3.10.4.4. By making transfers, at the counter or through electronic means –e.g., ATM or Internet banking (home banking)–.

3.10.5. Gratuitousness.
The services and movements established in point 1.8. shall be free of charge.

3.10.6. Other admitted operations.
3.10.6.1. Debits for the constitution of non-transferable time deposits in pesos or in Value Acquisition Units adjustable by "CER" - Law 25.827 ("UVA") or in Housing Units adjustable by "ICC" - Law 27.271 ("UVI"), in accordance with what is provided in the TO on Time Deposits and Investments.
3.10.6.2. Credits for the collection of time deposits constituted by the holder –as provided in point 3.10.6.1.–, the limit provided in point 3.10.3. not being applicable in these cases.
3.10.6.3. Debits to carry out any type of operations permitted by the National Securities Commission to adolescent minors.
3.10.6.4. Credits associated with the collection of the operations provided in point 3.10.6.3., the limit provided in point 3.10.3. not being applicable in these cases.

3.10.7. Closure.
In the event that the minor –or the person exercising their legal representation– orders the closure of this account, the remaining balance will be made available to them or transferred to an account in their name.

3.10.8. Conversion of the account.
At the request of the person exercising the legal representation of the minor, the financial entity must convert this account into a savings account designated for authorized minors provided for in point 3.7. When the adolescent minor reaches the age of majority (18 years completed), the financial entity must convert –immediately– this account into a savings account in accordance with what is provided in Section 1.

3.10.9. As far as not provided for and to the extent that they do not oppose what is detailed in the preceding points, the provisions established for deposits in savings accounts are applicable.
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Section 3. Special.
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3.11. Universal free account.
Financial entities that enable their clients to operate with ATMs –own or third-party– must open these accounts at the request of those who so require. The opening procedure must be able to be carried out, in its entirety, both in person and remotely.

3.11.1. Holders.
Natural persons capable of contracting or freely disposing of the proceeds of their lawful work, who are not holders of any type of demand account in the same entity nor in others in the financial system. To this end, they must sign a sworn declaration.

3.11.2. Identification of the holder.
It will be verified based on one of the documents provided in the TO on Valid Identification Documents.
The opening and subsequent maintenance of the account may be based on the Simplified Due Diligence measures recognized by the UIF for low-risk clients reached by measures aimed at promoting and/or expanding financial inclusion.

3.11.3. Currency.
Pesos.

3.11.4. Deposits.
Credits are admitted:
3.11.4.1. For any concept and made through any modality, up to the amount established by the UIF for the performance of Simplified Due Diligence on clients classified in the low-risk level. If this amount is exceeded, financial entities must apply the other due diligence procedures established by said body.
3.11.4.2. Originated from the sale of goods and services through the "Alimentar Card" –within the framework of the "Argentina Against Hunger Plan"–, fiscal refunds, and financial entity promotions, without any limit.

3.11.5. Withdrawal of funds.
3.11.5.1. Through all ATMs enabled in the country, without amount limits (except those expressly agreed for security reasons and/or resulting from operational restrictions of the equipment) nor quantity of withdrawals, nor any distinction between clients and non-clients.
3.11.5.2. At the counter.
3.11.5.3. Purchases and/or cash withdrawals at affiliated merchants, made with the debit card.
B.C.R.A. SAVINGS DEPOSITS, SALARY ACCOUNTS, AND SPECIAL ACCOUNTS
Section 3. Special.
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CONSOLIDATED ORIGIN OF THE NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para.
1.
1.1.1. "A" 1199
"A" 1820 I
I 2.
2.1.
S/Com. "A" 1823, 2192, 2241 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, 3247, 4358 and
5035.
1.3. "A" 3042 1. 1.3.1. S/Com. "A" 3247, 5928, 6050 and
6709 and 8181.
1.4. "A" 1199 I 5.7. S/Com. "A" 2814, 4809, 5387,
5728, 5928 and 8027.
1.5.1. "A" 1199 I 2.
1.5.2. "A" 1820 I 2.3.
1.5.3. "A" 1820 I 2.3. S/Com. "A" 6878 (includes interpretative clarification).
1.5.4. "A" 7796
1.5.5. "A" 1820 I 2.3.
1.6. "A" 3042 S/Com. "A" 3247, 4936, 4971 and
5000.
1.7.1. 1st "A" 1653 I 2.1.3.2.3. 1st
"A" 1820 I 2.5. 2nd
2nd "A" 3042
1.7.2. 1st "A" 1653 I 2.1.3.2.3. 2nd
2nd "A" 1653 I 2.1.3.2.3. 2nd
3rd "A" 3042
1.7.3. 1st "A" 1653 I 2.1.3.3. S/Com. "A" 2061.
2nd "A" 3042
3rd "A" 3042
1.7.4. "A" 1653 I 2.1.3.2.2.
1.7.5. "A" 3042
1.8. "A" 5928 6. S/Com. "A" 7343.
1.9.1. 1st "A" 1653 I 2.1.1.1.
"A" 1820 I 2.4.
2nd "A" 1653 I 2.1.1.1. S/Com. "A" 7246.
"A" 1820 I 2.4.
3rd "A" 3042
1.9.2. "A" 2468 1. 2nd
1.10. "A" 2468 1. 1st
1.10.1. "A" 1653 I 2.1.3.2.2.
3.3.
1.10.2. 1st "A" 2508 Unique 1st S/Com. "A" 3323.
2nd "A" 2621 1. 1st
3rd "A" 2508 Unique 5th

B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE CONSOLIDATED TEXT ON SAVINGS DEPOSITS, SALARY ACCOUNTS, AND SPECIAL ACCOUNTS

SAVINGS DEPOSITS, SALARY ACCOUNTS, AND SPECIAL ACCOUNTS CONSOLIDATED TEXT ORIGIN OF THE NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para. 3.
3.7. "A" 6103
3.7.1. "A" 6103
3.7.2. "A" 6103
3.7.3. "A" 6103 S/Com. "A" 7849.
3.7.4. "A" 6103
3.7.5. "A" 6103
3.7.6. "A" 6103
3.7.7. "A" 6103
3.7.8. "A" 6103
3.8.1. "A" 6165
3.8.2. "A" 6165 S/Com. "A" 8131.
3.8.3. "A" 6165 S/Com. "A" 6273.
3.8.4. "A" 6165 S/Com. "A" 8131.
3.8.5. "A" 6165
3.8.6. "A" 6165 S/Com. "A" 6878 (includes regulatory clarification).
3.8.7. "A" 6165
3.8.8. "A" 6165
3.8.9. "A" 6165
3.8.10. "A" 6165
3.8.11. "A" 6165
3.8.12. "A" 6165
3.8.13. "A" 6165 S/Com. "A" 6448.
3.9.1. "A" 6265
3.9.2. "A" 6265
3.9.3. "A" 6265
3.9.4. "A" 6265
3.9.5. "A" 6265
3.9.6. "A" 6265
3.9.7. "A" 6265 S/Com. "A" 6448.
3.9.8. "A" 6265
3.9.9. "A" 6265
3.9.10. "A" 6265
3.10.1. "A" 6700
3.10.2. "A" 6700 S/Com. "A" 8181.
3.10.3. "A" 6700 S/Com. "A" 7969 and 8181.
3.10.4. "A" 6700
3.10.5. "A" 6700
3.10.6. "A" 6700 S/Com. "A" 7849 and 8181.
3.10.7. "A" 6700
3.10.8. "A" 6700
3.10.9. "A" 6700
3.11. "A" 6876 S/Com. "A" 8181.
3.12. "A" 7556 2. S/Com. "A" 7595, 7603, 7650,
7743, 7746, 7770, 7813, 7837,
7854, 7873, 7874, 7898, 7908,
8131, "B" 12431, 12511, 12512 and
"C" 93472.