ARG CB National Payment System


On Jun. 13, ARG CB issued updated payment system communication.


  • ARG CB issued Communication B 12560 to clarify national payment system (NPS) rules
  • Minimum daily transfer limits, and temporary extension of limits per client request.
  • Highlights
  • Point 2.2.4. of the rules on NPS transfers and minimum limits established in Point 6.3.2.3. apply to payment accounts (PSPCP) and immediate transfers to sight accounts
  • Financial institutions and payment service providers must offer offer temporary extension of limits to make transfers for higher amounts (also known as TIS).
  • They must offer clients ability to request TIS remotely 24 hours a day, every day of the year, or in person, through both a sight account as well as a payment account.
  • Jul. 20, 2023 Update to NPS Rules
  • On Jul. 20, 2023, ARG CB issued Communication A 7811 with updates to NPS rules.
  • Communication included replacement sheets that should be included in NPS rules.
  • Jul. 27, 2023 Official Publication
  • On Jul. 27, 2023, ARG CB published Communication B 12560 in the official gazette.
  • Aug. 2023 Official Publication
  • On Aug. 24, 2023, ARG CB published Communication A 7811 in the official gazette.
  • On the same day, ARG CB published Communication A 7825 to establish that PSPCP remuneration where customer funds are deposited, to be fully passed on to customer.
  • Replacement sheets to reflect change have been attached to Communication A 7825.
  • Sep. 14, 2023 Pull Transfer Service
  • On Sep. 14, 2023, ARG CB issued Circular SINAP 1-188, Communication A 7841.
  • Referenced adjustments to national payment system, immediate debit, transfers.
  • Applies to immediate transfer schemes that use the recurring immediate debit (DEBIN)
  • DEBIN must be discontinued and replaced with immediate “pull” transfer service (IPT).
  • Specifically must be replaced by Dec. 1, 2023 when participants enable clients to access their accounts of funds from own accounts enabled in other providers.
  • Participants must report to General Deputy Management of Payment Methods.
  • Specifically, must report plan to migrate 100% of users who regularly use DEBIN.
  • The filing of the plan must be done within 15 days from dissemination of Com A 7841.
  • PSPCPs not in the Registry of interoperable digital wallets may not participate in IPT.
  • Sep. 14, 2023 Fraud Prevention in DEBIN
  • On Sep. 14, 2023, ARG CB adjusted payment instruments to prevent fraud in DEBIN.
  • Including requiring that the recurring immediate account debit (DEBIN) product have express client authorization before the first debit in order to prevent cases of fraud.
  • DEBIN is online transfer initiated by payee and the person paying only has to accept it.
  • Financial institution or payment service provider (PSPCP) receiving recurring DEBIN must display to client whose account will be debited, a legend to confirm they accept.
  • Make clear they will periodically be debited as requested by that supplier or payee.
  • DEBIN has been limited in scope, both to receive and to make requests for funds.
  • Limited to widely used accounts such as savings accounts, salary and social security.
  • Initial limit of 2,500 UVA ($727,000) per day and per account to order immediate pull.
  • Participants in national payment system that use recurring DEBIN to fund accounts must discontinue this operation by Dec. 1, 2023 and enable immediate pull transfers.
  • Nov. 6, 2023 ARG CB OG Publication
  • On Nov. 6, 2023, ARG CB published Communication A 7841 in the official gazette.
  • Nov. 30, 2023 ARG CB Delayed Effectiveness
  • On Nov. 30, 2023, ARG CB issued Circular SINAP 1-194, Communication A 7905.
  • References changes to national payment system, immediate debit, payment services.
  • ARG CB deferred the entry into force of some provisions of Communication A 7841.
  • Specifically, postponed the effectiveness of Point 1 until Jan. 3, 2024 in the case of clients who have used the recurring DEBIN as a funding tool up to Dec 31, 2023.
  • Starting Jan. 1, 2024, customers who want to deposit funds into their accounts for the first time may only do so with immediate pull transfer; also Point 6 on Jan. 3, 2024.
  • Postponed until Jan. 2, 2024 the last paragraph of the Point 10 of Com A 7769.
  • Also, ARG CB announced continued use of DEBIN to fund linked accounts.
  • DEBIN users will have until Mar. 1, 2024, to migrate to immediate pull transfers (TIP).
  • Beginning Jan. 1, 2024, new users will be required to link their accounts through TIP.
  • TIP fund requests result in immediate debit from the account and credit to requester.
  • Initially, this will be limited to transfers between accounts held by the same owner.
  • Account holders validate their credentials once; retain the authority to cancel the link.
  • Fund movement occurs directly between accounts, bypassing 3rd party intermediaries.
  • Dec. 1, 2023 ARG CB Updated Regulatory Text
  • On Dec. 1, 2023, ARG CB issued Circular SINAP 1-195, Communication A 7906.
  • ARG CB distributed the updated regulatory text in an attachment to Communication.
  • Specifically the regulatory text per Communication A 7839, effective on Dec. 2, 2023.
  • Dec. 13, 2023 ARG CB Replacement Sheets
  • On Dec. 13, 2023, ARG CB issued Circular SINAP 1-197, Communication A 7919.
  • Latest sheets incorporated in the regulations re national payment system services.
  • In line with Circulars A 6680, 6696, 7305, 7783, 7769, 7831, 7850, 7861, and 7905.
  • Dec. 28, 2023 ARG CB Adjustments
  • On Dec. 28, 2023, ARG CB issued Circular SINAP 1-198, Communication A 7933.
  • Repealed paragraph iv) of point 5.1.3 of national payment system, transfers rules.
  • On the same day, ARG CB issued Circular SINAP 1-199, Communication A 7934.
  • Replaced section a. of point 1 of Communication A 7905 with point 1 until Mar. 1, 2024
  • Dec. 29, 2023 ARG CB Updated Regulatory Text
  • On Dec. 29, 2023, ARG CB issued Circular SINAP 1-200, Communication A 7936.
  • ARG CB attached updated regulatory text based on several prior Communications.
  • Jan. 2024 ARG CB Delayed Effectiveness
  • On Jan. 11, 2024, ARG CB issued Circular SINAP 1-201, Communication A 7942 to extend the effective date of Communications A 7769 and A 7841 to Apr. 30, 2024.
  • Feb. 14, 2024 ARG CB Official Publication
  • On Feb. 14, 2024, ARG CB printed Communications A 7905, A 7906 in official gazette.
  • Feb. 15, 2024 ARG CB Official Publication
  • On Feb. 15, 2024, ARG CB published Communications A 7919, A 7933, A 7934, A 7936 and A 7942 on the clarification of the national payment system, in the official gazette.

Regulators ARG CB
Entity Types Bank; MSB
Reference OG, 2/15/2024; OG, 2/14/2024; Cir SINAP 1-201, Communication A 7942, 1/11/2024; Cir SINAP 1-200, Com A 7936, 12/29/2023; Cir SINAP 1-199, Com A 7934, Cir SINAP 1-198, Com A 7933, 12/28/2023; Cir SINAP 1-197, Com A 7919, 12/13/2023; Cir SINAP 1-195, Com A 7906, 12/1/2023; PR, Cir SINAP 1-194, Com A 7905, 11/30/2023; OG, 11/6/2023; PR, 9/14/2023; Cir SINAP 1-188, Com A 7841, 9/14/2023; Com A 7825, OG, 8/24/2023; OG, 7/27/2023; Com A 7811, 7/20/2023; Com B 12560, 6/13/2023;
Functions Compliance; Legal; Operations
Countries Argentina
Category
State
Products Banking; Cards; Deposits; Payments
Regions Am
Rule Type Final
Rule Date 6/13/2023
Effective Date 4/30/2024
Rule Id 176200
Linked to Rule :161291
Reg. Last Update 2/15/2024
Report Section International

Last substantive update on 02/16/2024