The Central Bank of Argentina has re-authorised the opening of USD-denominated current accounts and will allow cheques drawn in USD to be issued only through the electronic cheque channel (ECHEQ), expanding USD payment instruments under the national policy of promoting currency competition. The measure limits USD cheque issuance to electronic means and positions ECHEQ as a negotiable financing tool, particularly for micro, small and medium-sized enterprises (MiPyMEs), by enabling remote negotiation and reducing operational, transport and document-verification costs. It also adds to earlier BCRA measures enabling debit card payments in USD, interoperable QR for debit card payments in ARS and USD, and the creation of scheduled DEBIN for instalment payments in both currencies. Banks and clearing arrangements are expected to complete the required systems and processing adaptations for USD ECHEQ by 1 December 2025.
Central Bank of Argentina 2025-08-07
Central Bank of Argentina reopens USD current accounts and permits cheques only via electronic ECHEQ with systems changes due by 1 December 2025
The Central Bank of Argentina has re-authorised USD-denominated current accounts and restricted USD cheque issuance to the electronic cheque channel (ECHEQ), enhancing USD payment instruments. This measure positions ECHEQ as a negotiable financing tool for micro, small, and medium-sized enterprises by reducing costs and enabling remote negotiation. It complements previous measures allowing debit card and interoperable QR payments in both ARS and USD.