The obligatory nature of bank payments can be postponed

New payment regulations come into effect, which will affect the cash modality from December 1st. Among them, are: rents, operations exceeding 40,000 Indexed Units (UI) -US $ 4,385-, the purchase and sale of real estate and motorized vehicles. On the other hand, transactions above 160,000 IU (about US $ 17,540) will have restricted the use of checks.

From September 1, "the owners of rented properties must notify the tenant of a bank account so that the latter can pay the rent as of December 1".

The tenant, on his part, will have the option of making the payment through an "account crediting". This measure is also transferred to "any payment that has as final destination the accreditation in it, according to what the decree (regulatory) will provide, including: automatic debits in bank accounts and electronic money instruments; electronic payments made through ATMs, cell phones or online; the payment through crossed checks not to the order and the collection through third parties by means of electronic payment ",

It is expected that the compulsory nature of electronic payments in operations exceeding 40,000 IU, the purchase and sale of real estate and motorized vehicles will be postponed. According to Vallcorba – the consulted specialist – the extension is for the purpose of "giving the possibility to any worker to open a bank account without cost".

The Ministry of Economy and Finance (MEF) estimates that as of October 1, the measure that enables (and compels) the payment of salaries through electronic platforms (debit card or electronic money) will be ready.

"The process continues and all this will continue to have an impact on the payment system, which is what pays us to pay for what we see as the greatest impact, which will allow us to universalize access."

According to the schedule set by the government, from October 1 and until June 31, 2016, if the worker does not receive his salary through any form of electronic payment (this figure currently amounts to 500,000 workers) the law will endorse it to demand compliance from your superior. To do this: "choose a bank or an issuer of electronic money."

In the event that the worker has not made an election within the stipulated periods, the employer will be the one who chooses the electronic payment method or the electronic money issuing bank, as long as they have not arranged another form of settlement between them.

In the period between October 1 of this year and October 1, 2017, the employee may continue to collect his salary by traditional means if agreed with the counterpart.

Material generated from the information of the virtual newspaper El País Uruguay.

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