This was confirmed by the Central Bank of the Republic of Argentina (BCRA). all banks in the country will remain closed for six consecutive days for the national Easter holidays, the long weekend and the day of veterans and those fallen in the Malvinas war.
Although Thursday the 28th is not considered an official public holiday (Vacation), there will be no banking in any location in the country, which could cause inconvenience for those who have to carry out transactions in person.
On these dates, redemption and subscription operations of all mutual investment funds will also be suspended there will be no market operations due to lack of clearing banking.
The last working day for banks in March It will be Wednesday 27th, and banking activities will resume on Wednesday 3 April with normal hours.
During this period, ATM, home banking and digital payment systems will remain operational. Debit and credit cards will work normally, allowing you to make payments and transfers.
What the banking operation will be like, which days banks will remain closed and how they will operate. Until you set a fixed deadline this week, or set up or save a mutual fund, or buy foreign currency.
Subscription and redemption of Mutual 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 same day. It is an instrument whose use is constantly growing, because although it offers a lower interest rate with a fixed maturity, It is not necessary to immobilize the money for 30 days”, they explain from Banco Provincia.
And in this regard they clarify: “the subscription or redemption of funds is very simple to carry out” and modular until Wednesday, March 27, at 4 p.m. From the institution’s home banking it is necessary to follow the Investments/Mutual Funds path, choose Subscription or Redemption of funds and follow the proposed steps. The operation will resume on Wednesday 3 April after the holidays.
Purchase of foreign currency
To buy or sell foreign currency, banking customers must access their entity’s home banking through the Investments menu, Foreign Currency tab. And this week they will have time to operate until Wednesday 27th from 10am to 3pm
Meanwhile, the Thursday 28 March and Friday 29 March The markets will remain closed for the Easter holidays and will only resume activity Wednesday 3 April after the aforementioned holidays.
Important: through home banking it is possible to purchase up to a maximum monthly amount of 200 US dollars, subject to authorization from the Central Bank. This transaction is taxed at PAIS tax (30%) and a 30% charge is made as 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 starting from an initial amount of 1,000 pesos. Currently, most entities offer a nominal annual fee (TNA) of 70%although some give 71, 74 and even 77%, which translates into a monthly interest of between 5.83 and 6.41%,
Those who wish to invest in such a tool usually have the option to use it from home banking from 6.00 to 21.00. At the beginning of the holidays, it is worth remembering that the deadline is until Wednesday 27 March, at 9pm. The market will therefore remain closed until reopening on Wednesday 3 April.
Buying and selling 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 manage the funds and then following the proposed steps. Only working days from 8:00 to 17:00, this is why in this case from Wednesday at 5pm until next Wednesday at 8am it will not be possible.
Change in bank opening hours in the province
Public and private banks operating in the province of Buenos Aires opening hours will change from Next Wednesday, April 3, after the extra long weekend.
Starting next Wednesday “Daylight saving time” will be left behind from 8:00 to 13:00 for customer serviceto resume the range from 10 to 15, as indicated by the La Bancaria union.
The modification, signed by decree by the government of Buenos Aires in accordance with union guidelines, established that between 21 November 2023 and 29 March 2024, “Staff will work Monday to Friday from 7.45am to 3.15pm, with public service hours from 8am to 1pm.
Upon expiry of the deadline, the provision that, will be in force from April 1st will finally influence customers in Buenos Aires starting April 3 after six days without in-person banking assistance.
SN
Source: Clarin
