The Central Bank of Argentina has ordered that as of November 1 (that is, from today) local financial institutions and card issuers must have prior approval to access the exchange market, to make payments abroad for the use of credit, debit or prepaid cards issued in the country, the entity indicated through the Communication “A” 6823.
The operations involved
– Participation in games of chance and betting of various kinds. This way they avoid the operation that during the previous control was called "casino dollar", with which one bought chips in a casino and then exchanged them for dollar bills, avoiding the US$200 control.
– Transfer of funds to accounts at Payment Service Providers. What they are blocking here is the transfer to PSPs like PayPal, with which one could later convert to dollars. “They are not blocking the possibility of buying with PayPal, but they are not allowing transfers to those accounts,” explains a bank.
– The transfer of funds to accounts of investment managers located abroad. With this item they seek to avoid investments abroad with credit cards, operations that until now were offered by companies such as Quiena.
- Foreign exchange transactions abroad. In other words, it will not be possible to buy dollars in foreign exchange offices with a credit card, another way of getting around the restriction to obtain bills worth more than US$200.
– The acquisition of cryptoassets in their different forms. Cryptocurrencies cannot be purchased with a credit card, to prevent those bitcoins from being converted, for example, into dollars. At the same time, a limit of US$50 was placed on withdrawals from ATMs abroad with a credit card, as an advance. This does not imply a change in the withdrawal of dollars with a debit card, which remains without a limit when the withdrawal is from a dollar account and has a limit of US$200 when it is from a peso account.
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