People who use DEBIN to fund linked accounts will be able to continue doing so until March 1, 2024

Summary:

The Banco Central de la Repu00fablica Argentina has announced that users of DEBIN recurrente need to migrate to transferencia inmediata pull (TIP) by March 1, 2024. New users must start using TIP from January 1, 2024. The measure aims to provide a larger timeframe for customers to familiarize themselves with the new instrument and complete the migration process without affecting their experience. TIP is a type of transfer where funds are debited directly from the recipient's account and credited immediately to the sender's account, with additional security features such as account validation and the ability to cancel the link. DEBIN recurrente was initially designed for automatic debit settlement, but some payment service providers used it for customers to fund their own accounts, bypassing the usual transfer process.