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Tomorrow, an electronic check starts


Electronic check,
Echeq will enter into force tomorrow with what users can do and receive checks generated through electronic channels.

Echeq will, like traditional checks, pay tax on bank loans and debts, which are listed in


and in detail that "just change support".

The Regulation "obliges financial institutions to receive deposits from Echeqs" is described in detail

Central Bank

In a statement released Friday afternoon, he specified that "a non-mandatory release is available for current accounts and will begin to grow gradually".

"Echeq will be implemented and distributed exclusively by electronic means, either through financial institutions or authorized financial infrastructures." Echeqs issuing and depositing will be the exclusive function of financial institutions, "he reported.

Simplifying the procedure of issuing, approving, negotiating and generally circulating through digital channels; the number of approvals without restriction, the reduction of operating costs compared to traditional verification, security and efficiency, and the reduction of reason for rejection are the main advantages of the electronic checkout that were pulled out of BCRA.

Electronic check is an innovation promoted by a monetary entity to simplify business operations and reduce costs.

In order to improve business, the Board of Directors has approved three pieces of legislation that complement the instrument: the one that includes modifying current bank account regulations and others regulating operational issues such as shortening, generating and electronic check management and other documents to compensate and certify performing civic activities.

Electronic verification is also a source of funding that is of particular importance to the SME sector, as it will facilitate their bargaining, be able to do electronic and remote, reducing operating costs, transferring and checking documents, they highlighted.

How will the verification be done?

According to the resolution of October last year (Press Release A6578), "a signature request will be satisfied if any electronic method that undoubtedly provides the outsourcing of the drawer's will and instrument integrity, the reliability of the broadcast operation and its authenticity as a whole (…) . For example, you can do it through home banking. And send it to the receiver. At the same time, they can be "verified and / or approved in electronic form, provided that the mechanisms used to meet the requirements of the previous paragraph are used," he points out.

Why an electronic check

According to Jorge Larravide, LINK's commercial manager, eCheq's compilation will be the functionality of the application, home banking and everything that would be equivalent to a written signature, valid on that platform: user, password, coordinates, or token. Instead of issuing the transfer, you will be given an electronic check, then you sign up electronically, "he explains.

Among the benefits is security. "The company that has a checkbook disappears and until she finds out missing, there can be many checks circulating in the company's name, and above is a massive procedure for reporting these checks as stolen," explains Larravide.

"This form of electronic check will also prevent false checks," adds Rosario Flores Vidal, Product Manager of Banco Industrial, one of the subjects who will have this service. "For example, the likelihood of issuing checks with formal errors that is later rejected will be reduced by half, or their negotiation or placement facilitates without the need for physical presence," adds Pablo García Arabehety, the BCRA system manager. At the same time, users, especially those who charge this format, may have another advantage: "There are areas of service providers that are present in limited hours, such as Friday from 12 to 13. Because it's about electronic modality, can circulate seven days a week, "says Larravide.


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