They reinforce the stocks: the BCRA now prohibits those who access pension debt payment plans from buying savings dollars

It is a new sector that will not be able to access the cap of 200 dollars at the official price plus 65% taxes. What other people are limited?

By iProfessional

30/03/2023 – 18,12hs

The Central Bank of the Argentine Republic (BCRA) issued a statement this Thursday, announcing that as of this Thursday, March 30, they will not be able to acquire the quota of US$200 per month (savings dollar), who have access to pension debt payment plans.

“The Board of Directors of the Central Bank of the Argentine Republic included the people in conditions to benefit from the pension debt payment plan provided by Law 27,705to the extent that they present themselves to request it, or another pension debt regularization plan, until they have canceled the debt, among the beneficiaries of State subsidies who have restricted direct or indirect dollarization, via the stock market, of their economic surpluses”, indicates the letter released by Miguel Pesce’s body.

Who can access the savings dollar?

In this way, this new group of citizens will not be able to access the ceiling of $200 at the official price plus a 65% tax increase for hoarding (of which only the return of the advance of Earnings, which represents 35%, can be requested in arrears.

It is worth remembering that a new restriction was added in September, since the Government included the people who maintain the subsidies in the electricity and gas rates among those forbidden to access the savings dollar. As of this measure, more than 100,000 users renounced State assistance through the Registry of Access to Energy Subsidies (RASE).

The savings dollar (also known as “solidarity”) can be purchased through Home Banking or through authorized bank branches in the exchange market, but not everyone can access it. Until now, are limited to access the savings dollar:

• Those who bought MEP or CCL dollars in the last 90 days;
• Those who received salaries through the Production and Work Assistance program (ATP);
• Those who collect social plans or state aid such as the AUH;
• Monotributistas who have credits in progress at a subsidized rate;
• Those who do not have their declared income;
• Joint holders of bank accounts;
• Those who spent their quota of US$200 with a card (includes, for example, the payment of Netflix or Spotify in dollars);
• Those who have a 12-installment payment plan for credit card debts;
• Those who refinanced their debts with banks for personal, pledge or mortgage loans;
• Beneficiaries of the income reinforcement that was paid in May and June 2022.
• Those who receive state subsidies for the payment of electricity and gas rates.

The Central Bank hardens the stocks: those who access pension debt payment plans will not be able to buy dollars.

Step by step: how to buy dollar savings and what requirements does the bank ask us for?

To buy dollar savings We need to have a bank account. Depending on the financial institution, the procedure may vary slightly. In this case we will take Banco Nación as a reference.

1. The first requirement is not be impeded by the Government for the purchase of foreign currency that we will mention later. In this case, we must have a savings account or account in local currency, that is, in Argentine pesos.
2. The second requirement is to have an account or savings account in US dollars.
3. The third requirement is have verifiable income and justify the purchase of dollarsIn general, income in the bank greater than 2 minimum wages, vital and mobile, that is, over $100,000. You can also present an earnings statement, salary receipt, monotributo quota, etc.
4. In case of having these requirements, the detailed operation on the Banco Nación website specifies the following steps to acquire the US currency:
5. Enter homebanking. Once we carry out this step, you will have to access the menu Investments/Buy-Sell dollars
6. Accept “Terms and Conditions”
7. Select the account where we are going to make the debit and then the account where we want the money to be credited.
8. Enter the amount and select “Make Transaction” and enter the Home Banking password.
9. Print or download the voucher.

You can also buy North American currency per box, but the limit is reduced to USD 100 per month.