Financial inclusion in our country from the outset presented some opposition voices, since it was warned that it could undermine freedom of choice. Not only with respect to the means of payment, but also the right to privacy. This last point is linked to the fact that the State knows how the citizen spends (or not) the money, how much, the banking entities used, payment channels, among others.
Therefore, the individual lost the possibility of choosing not to be included in the Financial Inclusion Law, because the State forced him to enter said system.
With the change of government after March 1, 2020, the opposition (now ruling) made a few modifications (and several of them radical) that are contained in the Urgent Consideration Law.
One of the most important changes it presents is that the employer – previously forced to pay electronically – can now negotiate with the worker and resort to cash payment. This change also covers payments for professional services and food items.
Likewise, the deliveries of money made by the State to its suppliers are for the consideration of such suppliers, who will no longer be obliged to use a banking method. All the measures that previously restricted cash will also apply to individuals, who will now not be obliged to identify the electronic payment, so that both parties can agree on how to pay the money.
The Urgent Consideration Law will only require the use of means established by the Financial Inclusion Law, when, for example, the payment equals or exceeds 40,000 IU so that, only in this case, must the nature of this payment be identified.
Another change is that several articles (35, 36, 40 and 41) that are linked to real estate or motor vehicles, as well as commercial companies, are repealed. Specifically referring to the properties, it will no longer be necessary to record the account number in the contract, since the rents can be paid again in cash with money in hand.
Despite all these changes, the modifications to the Financial Inclusion Law do not make the fight against money laundering more flexible, but on the contrary, continue with the controls to avoid financing illicit funds and the movement of large sums of money that may be linked to it.
In summary, the citizen will now be able to dispose of the money that he previously had bankrupt and the Law of Urgent Consideration responds to this demand. Electronic payment will now emerge from the individual decision or between the parties to a transaction, instead of being an obligation imposed by the State.
Information generated using the material of the web page source: Asociación de profesionales uruguayos en gestión humana