The Central Bank prohibited credit cards from selling tickets abroad in installments

The Central Bank prohibited credit cards from commercializing tourist services in installments outside the country. The resolution published by the entity It obliges that the sale of tickets, hotels or any expense in the foreign sector be paid in one go.

In this way, all services contracted abroad that are paid by credit card must be paid in a single payment or financed with the 43% rate set for the “minimum payment” of the abstracts. The resolution prohibits the application of fees for the payment of tourist services both to card issuers directly and through travel platforms, as established by communication A7407 of the entity.

“Establish, effective as of 11.26.21, that financial and non-financial entities issuing credit cards should not finance in installments purchases made by credit cards of their clients -human and legal persons- of tickets abroad and other tourist services abroad (such as accommodation, rental of car, etc.), whether carried out directly with the service provider or indirectly, through a travel and / or tourism agency, web platforms or other intermediaries “, he pointed out the BCRA rule known this Thursday.

It is worth noting that the authorities took the measure with the aim of discourage tourism to other countries and the consequent outflow of dollars, so the opportunity is not accidental, since this Friday the “Black Friday”, the traditional day of discounts of all kinds in the United States that, as usual, has an Argentine version that includes tourist packages. For this reason, many travel wholesalers and digital platforms that offer tickets and hotels had launched multiple offers, including many of up to 12 interest-free installments.

In this framework, lTourist services abroad will have this particular inhibition so as not to be sold in installments and the only means of financing that they will have will be that provided by the credit card itself, something that consumers often avoid. At the same time, the BCRA clarified that “airline tickets to the national territory can be financed with a credit card within the Now 12 programs promoted by the national government.”

It is worth noting that, according to a report by the Center for Studies for Production (CEP XXI) of the Ministry of Productive Development, the deficit of income and expenses of the travel account through operations of the Single Free Exchange Market (MULC) accumulated between 2012 and 2020 was US $ 47.8 billion, according to BCRA data. In this sense, the Government is promoting domestic tourism through the “Pre-Trip” program that rewards 50% of the consumption made in the purchase of tickets, accommodation, excursions and vehicle rental, among other services, for a moment up to $ 100,000 per person.

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