RegAlertRule · BCB · 27 Apr 2012 · SGDB N° 022/2012
SGDB N° 022/2012
The Central Bank of Bolivia mandates that financial intermediation entities participating in the ACH must make Electronic Fund Transfer Orders (OETF) accessible via home banking, ATMs, branches, and other digital channels by May 10, 2012. Institutions are required to publish access procedures and fees at all branches and on their websites, and must automate account and beneficiary enablement processes, prohibiting the use of physical forms or notes for such authorizations.
EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA
La Paz, April 27, 2012
SGDB No. 022/2012
FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES DEPARTMENT
TO: FINANCIAL INTERMEDIATION ENTITIES PARTICIPATING IN THE ELECTRONIC FUND ORDER CLEARING CHAMBER (ACH)
SUBJECT: OPERATIONAL CONDITIONS OF THE ELECTRONIC FUND TRANSFER ORDER (OETF) SERVICE
Ladies and Gentlemen:
The Central Bank of Bolivia announces that, with the purpose of promoting efficiency and the use of interbank OETFs processed through the ACH, financial intermediation entities must comply with the following provisions:
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OETFs must be accessible to the customer for processing via home banking, ATMs, teller windows at all branches, and, where applicable, mobile banking, telephone banking, other means, agents, or correspondents used to provide this service. Participating entities in the ACH must submit to the Financial Entities Department of the BCB a schedule detailing the activities and deadlines for implementing this service through the aforementioned mechanisms by May 10, 2012.
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Publish in visible locations at all branches and on their internet portal the procedures to access these services and the corresponding fees.
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Account and beneficiary authorizations associated with OETFs must be automated in the aforementioned processing media; in no case will entities require physical means, such as the sending of notes or written forms, for the authorization of accounts and beneficiaries.
Sincerely,
CRO/MMV/MAAM/PMS/AAGA
Ayacucho and Mercado • Tel: (591-2) 2409090 • P.O. Box: 3118 bcb@bcb.gob.bo • La Paz - Bolivia
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