The governing body published its proposal for consultation in order to facilitate access and operation of this product.
The Central Bank announced through a press release that published a proposal to modernize savings accounts for market players to provide their comments.
The monetary authority argued that the objective of this transformation It is to facilitate the access and operation of savings accounts, increasing their flexibility and liquidity.
This initiative seeks adapt and modernize the current regulation of savings accounts, taking into account technological developments recent developments in the financial industry that have boosted and amplified its growth, such as remote contracting through digital means and the greater possibilities of integration with other financial products or instruments.
Also, the proposal It seeks to introduce modifications that allow the population to further promote savings through more flexible financial services.
Among the main modifications is the development of digital products, under the line of making explicit and facilitating the possibility of contracting remotely and online savings accounts considering the definition of appropriate mechanisms for remote opening of savings accounts; allow access and management of all aspects of the account through channels online; and promote the use of electronic means to deliver certificates, account statements, and other associated documents.
A second axis is the revision of limits and terms, incorporating among the flexibilities the possibility of allowing a greater number of transfers, without loss of interest with respect to the average balances maintained in the savings account.
The possibility of having calculations and interest payments for the average balances kept in savings accounts, in different terms, is added.
Another point is be able to agree to open savings accounts, without prior deposit associated with it, under conditions that confirm the specific intention of the client to actually open a savings account.
What’s more, The terms for transfers from time savings accounts with deferred transfers are made more flexible. In this way, it would be allowed to turn from this type of accounts with a prior notice of 7 calendar days compared to the 30 calendar days required today.
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