Argentina: Electronic Cheque (ECHEQ) Comes Into Effect

On June 28, 2019, the Central Bank of Argentina (BCRA) announced that, as of July 1, 2019, the electronic cheque, called ECHEQ, comes into effect, allowing users to make and receive cheques generated through electronic channels and providing that financial institutions are obliged to receive these deposits.

The issuance of ECHEQ, which is not mandatory for financial institutions, is available for current accounts and will begin to grow gradually, according to the central bank.

The regulation of the ECHEQ comes from the BCRA's Communication “A” 6578 on the incorporation of the rules on of cheques generated by electronic means (ECHEQ) on October 1, 2018. 

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