Starting tomorrow they raise the limit of transfers for home banking to US $ 250,000

So far, the limits were $ 50,000 for ATMs and $ 100,000 for home banking.

The new limits for ATM transfers will be up to $ 125,000, $ 5,000 or € 5,000.

While through the Internet ("home banking and mobile banking"), they go up to $ 250,000, $ 12,500 or € 12,500.

Through the Mobile Payments Platform (PPM), they will be "an accumulated amount that does not exceed the equivalent of five times the minimum wage, vital and mobile – established by the National Council for Employment, Productivity and Minimum Wages, Vital and Mobile for monthly workers who perform all day legal work – in force at the end of the previous month ".

This last limit can be exceeded "provided that additional security measures are considered", said the Central Bank.

The monetary entity explained that all such transfers are free of charge and that financial institutions can not set lower limits than those indicated above, without prejudice to the fact that they may increase them.

For specific operations, customers may require – in person or through authorized electronic channels – the temporary extension of the limits prior to the transfer.

"The increase is based on further streamlining the flow of payments among users of financial services, consolidating the use of electronic payment means," the specified entity.

The measure was approved on April 17 by the board of the Central Bank of Argentina through communication A6679.