The Central Bank of the Argentine Republic (BCRA) confirmed that
all banks in the country will remain closed
for six consecutive days for the national holidays of Easter, the long weekend holiday and Veteran's Day and those who fell in the Malvinas War.
Although Thursday the 28th is not considered an official holiday
(non-working day),
there will be no banking activity
in any location in the country, which could create inconveniences for those who need to carry out in-person transactions.
The taking of redemptions and subscriptions of all Common Investment Funds will also be suspended during those dates, and
there will be no market operations due to the lack of
bank clearing.
The last business day for banks in March
will be Wednesday, April 27,
and banking activities will resume on Wednesday, April 3 at normal times.
During this period, ATM services, home banking and digital payment systems will remain operational.
Debit and credit cards will function normally, allowing payments and transfers to be made.
What will the banking operation be like, what days will the banks be closed and how to operate.
Until when to set up, this week, a fixed term, or constitute or rescue a Common Investment Fund, or buy foreign currency.
Subscription and redemption of Common Investment Funds (FCI)
"They are one of the investment options most used by savers with a conservative profile since they have the possibility of redemption on the day. It is a tool whose use is constantly growing, because although it offers an interest rate below a fixed term, it does not require immobilize the money for 30 days," they explain from Banco Provincia.
And in this regard they clarify: "subscribing or redeeming funds is very easy to do" and can be set up
until Wednesday, March 27, at 4 p.m.
From the entity's homebanking, you must follow the Investments/Common Funds route, choose Subscription or Redemption of funds and follow the proposed steps.
The operation starts again on Wednesday, April 3 after the holidays.
Purchase of foreign currency
To buy or sell foreign currency, clients of banking entities must enter their entity's homebanking through the Investments menu, Foreign Currency tab.
And this week they will have time to operate until
Wednesday the 27th from 10 a.m. to 3 p.m.
Meanwhile, on
Thursday, March 28 and Friday, March 29,
the markets will remain closed due to Easter holidays and will only resume operations
on Wednesday, April 3
after the aforementioned holidays.
Important: through homebanking, you can buy up to a maximum monthly amount of US$200 as long as you are authorized by the Central Bank.
This operation is taxed by the PAIS Tax (30%) and a 30% collection is made on account of the Income Tax.
Traditional Fixed Term Constitution
It is a low-risk investment instrument, which can be made within a minimum period of 30 days and from an initial amount of 1,000 pesos.
Currently, most entities offer an annual nominal rate (
ARR) of 70%
, although some give 71, 74 and even 77%, which translates into a monthly interest that ranges between
5.83 and 6.41%,
Those people who wish to invest in an instrument of this type usually have the possibility of operating it
from home banking from 6 in the morning until 9
p.m.
At the door of the holiday, it is worth remembering that the deadline is until
Wednesday, March 27, at 9
p.m.
The market is then closed until it reopens on Wednesday, April 3.
Purchase and sale of securities
Stocks and bonds
Shares can be compared and sold by entering each entity and looking for the Investments tab and selecting the account from which to operate the funds and then following the proposed steps.
Only business days from 8 a.m. to 5 p.m.,
which is why in this case from Wednesday at 5 p.m. to next Wednesday at 8 a.m. it will not be possible.
Change of banking hours in the province
Public and private banks that operate in the province of Buenos Aires
will change their opening hours
starting
next Wednesday, April 3,
after the extra-long weekend.
Starting next Wednesday,
the “summer hours”
from 8 a.m. to 1 p.m. for customer service will be left behind
, to resume the time slot from 10 a.m. to 3 p.m.,
according to the La Bancaria union.
The modification, signed by decree by the Buenos Aires government in accordance with union guidelines, established that between
November 21, 2023 and March 29, 2024,
“the staff will complete their work day from Monday to Friday from 7:45 a.m. to 3:15 p.m. , and public service hours must be between 8:00 a.m. and 1:00 p.m.
Upon expiration of the period, the measure that
will take effect from April 1st
will finally affect Buenos Aires customers
starting April 3rd,
after six days without in-person banking service.
S.N.