Overview

• Banco Macro has eliminated all commissions on personal dollar transfers up to US$10,000 from abroad.
• Banco Santander cut its fee for transfers up to US$3,000 from US$60 to US$6 per transaction.
• Banco Galicia introduced a tiered schedule from June 30 charging US$5 for transfers up to US$250, US$10 up to US$500 and US$25 up to US$1,000 with a 0.125% fee above those amounts.
• The measures follow a July 7 directive from the Central Bank aimed at boosting formal dollar deposits and curbing informal channels.
• Freelancers’ professional fees and family remittances now arrive intact, helping to bolster Argentina’s official dollar reserves.