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Saturday, June 6, 2020

The Central Bank postponed the term to pay the credit card statement until the end of the quarantine

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In the midst of the coronavirus pandemic that impacts the world and Argentina in health, economic and social matters, the Government of the President Alberto Fernández It continues to take measures that seek to shore up the middle and low sectors. In this case, the Central Bank decided to postpone the maturities of credit cards until April 13, the date on which the mandatory quarantine decreed and extended by the Executive Power in order to prevent the spread of Covid-19 ends. This was established in the Communication A6949 published this Wednesday.

Also and as indicated Infobae, the monetary authority resolved that financial institutions will open their branches from Friday, April 3 only for the attention of beneficiaries of pension assets and pensions or beneficiaries of benefits, plans or aid programs paid by the National Social Security Administration (Anses) such as the Universal Child Allowance (AUH) and the Universal Pregnancy Allowance (AUE).

The BCRA also determined that the unpaid balances of credits granted by financial entities, whose installments are due between now and June 30, 2020, will not accrue punitive interest.

In this context, the Central Bank cut the interest rate for credit card financing balances from 55% to 49% for the summaries received by users with consumptions that expire on or after April 1, the BCRA

“When it comes to financing from financial institutions under the credit card regime, the expiration of account statements that occur between April 1 to 12, 2020 may be canceled by customers on the 13th of that month by the same amount of the summary and without any surcharge ”, reported the BCRA.

He affirmed that credit assistance granted to the financial sector is excluded from said provision, while adding: “It is recalled that both direct debit and automatic debit in the financial institution itself can be reversed at the request of clients within 30 calendar days counted from the date of the debit and the return of the funds must operate within three business days of the request ”.

In another order, the monetary authority ordered that the banks postpone until that same date the payment of credit installments with financial entities, be they pledge, mortgage or personal, for those who cannot afford them.

In this way, if at the time of paying that maturity, the debtor has no way to meet the payment, the installment that expires in April until the end of the loan and under the same conditions can be extended and will be automatically for those who do not have paid.

It should be remembered that this Wednesday, April 1, the extension of the expiration dates of the credit card summaries that originally corresponded during the first part of the mandatory asylum ordered by President Fernández, between March 14 and 31, expired.

Lastly, the Central Bank indicated to financial entities that are financial agents of provincial, municipal or Autonomous City governments of Buenos Aires, to arbitrate the means to provide, as of this Wednesday, “the cash that the state entities corresponding to the aforementioned jurisdictions require the extraction of the relevant accounts ”.

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