BuySellBA
Administrator
The Central Bank of Argentina (BCRA) has extended the deadline for exchanging "small face" dollars and damaged bills until March 31, 2025. This measure, which was initially scheduled to end on December 31, 2024, allows savers to exchange their old or damaged bills at no additional cost through banks participating in the program.
Voluntary: Financial institutions' participation is optional.
Eligible Bills: Old series dollars ("small face"), stained, torn, or deteriorated bills are accepted.
Requirements: Bills must have more than 50% of their original surface and it must be possible to identify their denomination and security features.
So far, only a few institutions have confirmed their participation in the program:
-Santander Bank
-Banco Nación (National Bank)
-Some provincial banks
It's important for customers to check with their specific bank to verify if they are participating in the program, as participation is not mandatory.
The saver deposits the bills at their participating bank.
The BCRA handles the export of the bills to the United States.
The Federal Reserve destroys the old or damaged bills.
They are replaced with more recent editions.
This program aims to solve the problem of "small face" and damaged bills, which are often rejected or acquired at a discount in the informal market.
Additionally, it offers a free alternative to services that were previously only provided by international banks at significant costs. For those who have undeclared dollars, it is necessary to include them in the corresponding tax amnesty regime before making the deposit.
Voluntary: Financial institutions' participation is optional.
Eligible Bills: Old series dollars ("small face"), stained, torn, or deteriorated bills are accepted.
Requirements: Bills must have more than 50% of their original surface and it must be possible to identify their denomination and security features.
So far, only a few institutions have confirmed their participation in the program:
-Santander Bank
-Banco Nación (National Bank)
-Some provincial banks
It's important for customers to check with their specific bank to verify if they are participating in the program, as participation is not mandatory.
The saver deposits the bills at their participating bank.
The BCRA handles the export of the bills to the United States.
The Federal Reserve destroys the old or damaged bills.
They are replaced with more recent editions.
This program aims to solve the problem of "small face" and damaged bills, which are often rejected or acquired at a discount in the informal market.
Additionally, it offers a free alternative to services that were previously only provided by international banks at significant costs. For those who have undeclared dollars, it is necessary to include them in the corresponding tax amnesty regime before making the deposit.
