The way to access legal and cheap dollars and maintain electricity and gas subsidies at the same time is possible and within reach. It is the MEP dollar, an alternative that has advantages for those who access it. Ámbito tells you how it is possible to have both benefits in just a few steps.
What is the MEP dollar
Also know as dollar bag, it is about access to foreign currency through the capital market. In a simple and safe way, dollars can be purchased at a lower price than parallel.
The operation of the dollar MEP (Electronic Payment Market)it is about the purchase of a bond in pesos and its subsequent sale in dollars.
The MEP dollar is one of the operations most carried out by Argentines in the Capital Market. One of its advantages is that it has no purchase limit, as is the case with the savings dollar, which allows up to US$200 per month. Nor do you have to pay any kind of additional tax.
Another advantage, recently applied, is the parking. This is the minimum time that the title must be held in the portfolio before selling it, which is now only one business day, which makes it one of the most attractive options for savers.
This can be done since there are titles that are listed in the market both in pesos and in dollars. The most chosen to do so are the AL30 and GD30for its liquidity.
In turn, the financial intermediaries through which the MEP dollar they charge a small commission of between one and two percent total between the purchase and sale of the assets.
Requirements to access the MEP dollar
To be able to buy MEP dollars and enter the operation, you need to take into account the following:
- The mandatory condition is to have a bank account in dollars.
- Have declared income to be able to operate financial dollar, a condition required in the entire stock market system to operate.
- If the person has already accessed the monthly quota of US$200 from banks or exchange houses, they must wait at least 90 days to access the Bolsa dollar.
- Any investor can buy dollars (or sell using the reverse procedure) for an average total of $274.84 per dollar.
Those who cannot access the MEP dollar
- Those who have loans at a 0% rate or rates subsidized by the Government, current or pending cancellation, including loans.
- Those with outstanding credit card debt.
- Beneficiaries of state aid such as the IFE and the AUH, AUE, among others.
- Not having received a salary from a company that benefited from the ATP program during the pandemic.
- Those people who received help in freezing UVA mortgage payments until July 2022.
MEP dollar: how to access in five steps
- First, you must open or have a principal account, a type of account that is used to operate with bonds or shares in the Capital Market and in the Stock Exchange. This can be done from the bank where you usually operate or at a Stock Exchange or ALYC.
- Once the principal account is opened, the pesos to be used must be transferred there. After completing the accreditation, the operations are already enabled.
- Bonds must then be purchased in pesos. Currently the most recommended for this operation are the “AL30” and “GD30” bonds, issued by the national government, with the possibility of being amortized in dollars. It must be taken into account that the price of the price of the acquired security is for 100 nominal values, however, the desired amount can be purchased.
- It should be remembered that it is necessary to keep the voucher for at least one business day, in what is known as parking, in order to carry out the operation. From there, after the minimum parking, you are enabled to sell the bonds in dollars (AL30D or GD30D) and in this way the dollars are received in the principal account.
- Once this bond sale operation has been carried out, the dollars from the transaction are transferred to the investor’s bank account (or principal account).
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