According to a circular letter made available this Thursday on the institution's website, the BNA writes that "it has become aware that some commercial banks are setting limits on current invisible foreign exchange operations requested by private customers (travel, family help or other unilateral transfers of a private nature), according to the purpose of the operation".
The bank warns that this practice "goes against current regulations and adversely affects confidence in the financial system".
At issue is the refusal or postponement of customer requests, due to the lack of capacity of the banks, which the BNA wants the banks to resolve by advising the customer in writing until the third working day from the request, and not the delivery of the documents.
"The amount that can be sold to each customer is always dependent on their financial capacity, regardless of the purpose of the operation, and subject to the annual limit equivalent to 120,000 dollars per customer, except in the case of direct payments to providers of education or health services, which are subject only to the financial capacity of the customer," explains the regulator.
On the other hand, the BNA also alerts the banks that "when determining the value of currency to be sold to each of their customers, as well as the value of currency to be made available when dealing with own resources deposited in an account denominated in foreign currency, the commercial banks should take into account the limit" of 120 thousand dollars and the financial specificities of each customer.
"In cases where foreign currency is sold for travel purposes, the BNA recommends the allocation of international branded payment cards, thus reducing the risk associated with the transport of valuables", the notice also states that it warns that "if cash is withdrawn, the commercial banks should ensure that it is reported to the Financial Information Unit (FIU) when it exceeds the value defined in the applicable legislation and regulations".
The financial capacity of the client and the annual amount of 120 thousand dollars "are the only limits that can be applied by commercial banks in the sale of foreign currency to their clients to cover foreign exchange operations of invisible current of a private nature", the BNA also points out, concluding that "no other limits are permitted which are in accordance with the purpose or periodicity of the operation".
