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pay more for fixed contributions and offer cheaper dollars



After Central has allowed deposits of non-clients through digital funds, the nation was the bank with the largest operations. What are the benefits?

The measure was successful. Or, at least, this is what Mr Gaddo Sandlris, President of the Central Bank, emphasized by encouraging the opportunity to offer online fixed terms even to those who are not clients.

In so doing, it also seeks to create greater competition among banks by improving the interest rate they pay so that the pesos does not go down to the dollar and thus reduce the "spread" that exists with regard to which the faces of Leliq perceive.

As of April 30, the date on which this system began, the nation was the bank with the most time deposits: 16,828 operations worth more than $ 2,777 million, according to the enterprise led by Javier Gonzalez Fraga.

When explaining the savers' choice, the official said it was because "the nation offers one of the most attractive market interest rates, 55% per annum, for 30-day deposits."

Based on the information provided today by the central bank on its website, the most convenient proposal for online deposits for non-clients is the Bank for Investment and Foreign Trade (BICE), with an interest rate of 56% for loans. 30 to 35 days; followed by the nation at a rate of 55%.

Other banks involved in this proposal are Bica (52.5%); City, Voii and Corrientes (52%); San Juan, Santa Cruz, Entre Rios and Nuevo Banco de Santa Fe (50.25%); Formosa (50%), Credicoop, Mortgage and Bancor (48%), Caja de Credito Cuenca (47%) and Chubut (46%).

Entities that are not yet folded offer a more attractive deposit rate online.

"We have a preferential interest rate on fixed-term contracts, which is 40% higher than the one we offer on the blackboard through traditional channels," said Guillermo Jachic, Itaú's marketing director, in a dialogue with iProUP, With this impulse, 70% has already been digitally made in this object.

HSBC, even more active in its electronic strategy, provides between 1 and 1.5 percentage points more for operating fixed deadlines without going into the industry, although it "depends on the moment and if there are specific actions or not, for to get more deposits. according to Carlos Kanova, the company's digital channel manager, who describes details iProUP that more than 50% of the accommodation is done in non-traditional ways.

BIND, French and Macro, among others, provide better fixed-term prices via the internet or mobile phone. The results are available.

Furry for the electronic dollar

Banking sources were consulted iProUP they are a key fact: Buying dollars from cellular and home banking is now concentrated between 80% and 90% of foreign currency transactions.

"The strongest days are those from the beginning of the month when people collect their salary, but in days like this week, when you see a dollar out of control, you again notice peak demand," they point out from one of the major national private banks.

On the part of the Spanish capitals, it is ensured that the so-called "ants" are tripled in recent months. And the sums made in each operation range from $ 200 to $ 800.

Although individual acquisitions vary depending on the location of the branches, the average transaction is about $ 500. In regions with higher incomes it is between 1000 and 1500 dollars. Most of the computer or smartphones.

Similarly, the acquisition through the window has become a wasteland. A source from Banco Nación shows that this route was very limited to an older age group that has already come to see the branch.

In terms of customer behavior, market sources say that "the reaction is immediate when the dollar rises early, the largest purchases of small savers are already noticed by noon."

Benefits for home banking

The online segment today is the big bet of the bank. Free the physical branches and bring more and more operations into the net – a mantra that echoes in all city guides.

"We strongly discourage the sale of dollars on a window," they say from the country's main banks. To do this, everyone is betting on one of the following strategies:

– Offer a better online purchase offer compared to the value of the "blackboard"

– Facilitating an extended schedule, even for canceling a fixed term and turning it into a foreign currency

In the first group, Credicoop, Supervielle, French and Piano, as well as Nation, City, who sell green tickets for up to 30 cents cheaper than the branches. In the case of Brubank, it allows 24 hours of work, including weekends.

This better cost for digital channels is reflected in the BCRA flow, as can be seen in the following table:

"In exchange rates, we use the values ​​of the board, but we develop systems at segment level by market, time and channel," said Guillermo Jacic, marketing director at Itaú.

HSBC, for its part, allows off-the-shelf selling by electronic means, which can be operated between 8 and 18 hours.

"Although there is no difference in price, improvement is on the side of the provision," said Carlos Kanova, HSBC's digital channel manager.

Consumers, however, have other benefits. First of all, when working from a computer or mobile phone, they can buy in real time, deciding the "right" moment to make the transaction.

But first of all, having all the services of the bank, consumers can transfer funds from their fixed term to pesos to a savings account in dollars. Or a company can take advantage of the customer's last payment to turn it into green notes. Everything within seconds.

Consolidation of the online segment

Exploited with concrete benefits, in recent months the number of customers who have embraced digital channels has grown significantly to the extent that today more than 50% of the fixed deadlines are made on these funds, with the top reaching 80% in some businesses,

"Growth is Exponential," revealed in Banco Provincia, which today has 1.72 million consumers in home banking, against 862,000 in December 2015. "The number of users doubles," they say. iProUP from the face of Buenos Aires.

According to Gustavo Grigera, who is responsible for ICBC's home banking, payments and transfers, "digital penetration is steadily growing and customer business relations are higher." In high-income segments, he adds, the percentage is close to 80%.

In the same direction, Milagro Medrano, Macro's institutional relations manager, stresses that "in 2018, digital users have grown by 30%, and especially those using the app have increased by 150%." In addition, cash transactions through these channels increased by 40%.

In the case of Francis Moovil, BBVA, the advance was 30% over the twelve months. Today, in the retail banking segment, six out of 10 users make transactions over the internet and 36% of their mobile phone.

It is clear that this phenomenon is part of the natural evolution of the business and generates benefits on both sides of the struggle. Organizations reduce costs and achieve a wider expansion of their portfolio without increasing their physical presence while customers earn time, avoid traveling and receive benefits.

In a nutshell, in a country where the kingdom is king and prevalence is imminent, the bank "in your pocket", with just one click, has become an important ally when it comes to taking one chapter away from the quotes that mark the plates.

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