Compilation of Payment System Rules, substitution of article – Book III

Montevideo, May 26, 2025
Ref: Compilation of Payment System Rules, substitution of article – Book III

It is brought to your knowledge that this Central Bank adopted, on May 21, 2025, Resolution No. D/145/2025, which is attached.

MARCELO VIDONI
PAYMENT SYSTEM MANAGEMENT
(Ref. No. 2025-50-1-00533)
Diagonal Fabini 777 - C.P. 11100 - Tel.: (598 2) 1967 - Montevideo, Uruguay - www.bcu.gub.uy

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CIRCULAR NO. 2476

BOARD OF DIRECTORS - RESOLUTION
Montevideo, May 21, 2025.

BOARD OF DIRECTORS

HAVING SEEN: the commission for international fund transfers established in Article 52.2 of Book III of the Compilation of Payment System Rules.

WHEREAS: I) the Central Bank of Uruguay incorporated into its Payment System Roadmap for the period 2023-2025, an activity related to the systematization and monitoring of operational costs and access conditions to the payment system in order to promote development and competition in the market;

II) that, as established in Article 52.1 of the Compilation of Payment System Rules, the Central Bank of Uruguay provides international fund transfer services – among others – to certain supervised institutions, provided that the legal entity of the ordering party and the beneficiary of the operation are identical.

CONSIDERING: I) that, as established in literal b) of Article 55 of Law No. 16.696 of March 30, 1995, the Central Bank of Uruguay may set and collect commissions for the provision of certain services;

II) that with the objective of offering the service equitably to all supervised institutions authorized to carry out the operations referred to in the HAVING SEEN section, it is deemed appropriate to establish by regulation that they must pay the same amount for the international transfer service in the concept of commissions – with the amount being a matter of merit, respecting the principle of reasonableness.

IN VIEW OF: the above, the provisions of Article 55 of Law No. 16.696 of March 30, 1995, as amended by Article 11 of Law No. 18.401 of October 24, 2008, Law No. 18.573 of September 13, 2009, the provisions of the Compilation of Payment System Rules, the information provided by the Payment System Management on May 19, 2025, and other background documents appearing in file No. 2025-50-1-0533,

IT IS RESOLVED:

1. Modify Article 52.2 of Part Two of Book III of the Compilation of Payment System Rules, which shall be drafted as follows:

Article 52.2 (COMMISSION FOR INTERNATIONAL FUND TRANSFERS). For each international fund transfer operation from their accounts at the Central Bank of Uruguay, supervised institutions must pay the sum of 1,000 U.I. (one thousand Indexed Units).

Transfers ordered by the remaining entities included in Article 52.1 shall not be subject to this commission.

2. Entrust the Payment System Management with communicating the provisions herein through a Circular, keeping in mind the provisions of Articles 105 and 106 of the Administrative Regulations.

(Session of today - Minutes No. 3767)
(File 2025-50-1-0533)

Jorge Christy
General Secretary

Aar/am/ds
Publishable Resolution

Ref. No.: D-145-2025
Signatory: Jorge Eduardo Christy Davies Date: 21/05/2025 18:43:20 CIRCULAR NO. 2476