Argentinian authorities establish limits for banking operations in dollars. Various maximum amounts are considered for different types of financial transactions. For example:
- $600,000 for purchases with debit cards or movements in virtual wallets. - $1,000,000 in bank credits, time deposits, cash withdrawals, and final balances of accounts. - $2,000,000 in bank or virtual transfers.
It is important to note that even when deposits are in dollars, banks typically convert the amount to pesos according to the official exchange rate to determine if it complies with these limits. Those who violate these rules may face penalties according to the Currency Penal Law.
The Currency Penal Law encompasses several punishable actions, such as carrying out currency transactions without authorization, providing false information in financial transactions, failing to correct erroneous data, and conducting operations outside the established deadlines and conditions. Penalties include fines and imprisonment which vary according to the severity and recurrence of the offense.
The Revenue and Customs Control Agency (ARCA) supervises financial operations in Argentina to prevent tax evasion and money laundering. Among its responsibilities is to investigate deposits in dollars and pesos, verifying the legality of the funds. It is essential that dollars are acquired through formal channels, such as operations in the MEP market or purchases in the official market.
Starting January 1, 2025, ARCA may require additional information from banks if certain amounts are exceeded in financial transactions. It is crucial to understand and respect these regulations to avoid legal issues and operate transparently within the Argentine banking system.
