Companies like Despegar had everything ready for the ecommerce event, but they received a bucket of cold water with the measure from the Central Bank
The government left a good part of the Tourism sector in shock with a surprise announcement that he did this Thursday night: prohibits banks and cards from financing trips and packages abroad in installments.
Sources close to the Central Bank justified the measure on the need to “take care of the reserves, the dollars“and they explained that from now on”a subsidy is cut that means selling a product in dollars that is paid in fixed installments in pesos“.
The decision was made effective and official through Communication A of the BCRA that was released this Thursday: “As of 11.26.21, financial and non-financial entities issuing credit cards should not finance purchases made using credit cards in installments. its clients – human and legal persons – of tickets abroad and other tourist services abroad (such as accommodation, car rental, etc.), either directly with the service provider or indirectly, through an agency of travel and / or tourism, web platforms or other intermediaries “.
Attention tourists: what does the BCRA regulations say
1. The highest monetary authority ordered the measure through Communication A 7407, which informed the entities and card issuers that as of this Friday they cannot be financed in installments purchases made through cards, tickets to other countries and tourist services abroad.
2. The resolution prohibits the application of fees for the payment of tourist services both to stations of cards directly as through platforms travel, as established by the entity’s communication.
4. According to this measure approved by the entity’s board of directors, all services contracted abroad that are paid by card must be paid in a single payment or financed with the 43% rate set for him “minimum payment” of the abstracts.
5. Spokesmen for the entity clarified that banks “can give a credit to pay the ticket, personal credit type.”
Golpe al Black Friday
After the announcement of the new measure of the central bank that prohibits the sale of trips abroad in installments, online travel agencies had to cancel all the promotions they planned to offer from 00 hours this Friday.
Such is the case of Despegar.com, for instance. When you enter the company’s website, you can see various promotions to different destinations, but none of them it has to do with travel abroad.
It is worth mentioning that The statement that the company had published prior to the start of Black Friday included various promotions in interest-free installments for tickets and hotels abroad, something that since the entry into force of this measure can no longer offer.
The cover of Despegar.com
For To take off, without a doubt, it is a hard blow: the travel company had everything ready to participate in this new edition of the Black Friday, the event that brings together Argentine companies with online stores to offer promotions of all kinds.
“Now that summer is approaching and Argentines are eager to take a break, this is a great opportunity to find the perfect trip taking advantage of the exclusive benefits of Despegar. The benefits are varied and can be used to travel to all parts of the world”, they were enthusiastic about communicating from the company.
Among the promos that the travel agency was about to launch were:
● Up to 12 installments without interest on international flights
● Interest-free fees on international packages “at incredible prices”
● Up to $ 40,000 discount on packages of the all inclusive Iberostar chain
● Up to $ 20,000 discount in the hotels of the Iberostar chain by entering the code “BLACKWEEKIBEROSTAR”
● Hotels in the United States with up to 6 interest-free installments
● Up to 15% discount on car rental with Avis and Budget in the USA
● Special offers on activities, offers, tours and traveler assistance
Something similar happened with Trivago, another of the online agencies where you could find promotions to travel to various destinations. On the front page of the website you can choose different alternatives for getaways and long trips, both in Argentina and abroad. The difference is in the form of payment and financing: before they offered interest-free fees and interest-bearing fees for tourism abroad and now those options no longer exist, precisely because of the regulations that the Central Bank has just released.
The front page of Trivago a few hours after the entry into force of the measure taken by the Government
The BCRA measure
The Central Bank established, through communication A, a prohibition for financial and non-financial entities that issue credit cards in which it prevents the financing of purchases made through installments in installments. Credit cards of its clients – human and legal persons – from tickets abroad and other tourist services abroad (such as accommodation, car rental, etc.), whether carried out directly with the service provider or indirectly, through a travel and / or tourism agency, web platforms or other intermediaries. ”
Textually, Communication A 7407 released this Thursday says: “As of 11/26/21, financial and non-financial entities that issue credit cards will not have to finance in installments the purchases made through the credit cards of their clients -human and legal persons- of tickets abroad and other tourist services abroad (such as accommodation, car rental, etc.), either carried out directly with the service provider or indirectly, through a travel and / or tourism agency, platforms web or other intermediaries “.