The Central Bank authorizes the use of electronic checks in US dollars

In a new step toward consolidating currency competition and economic freedom driven by President Javier Milei, the Central Bank of the Argentine Republic (BCRA) has approved the use of electronic checks in dollars (ECHEQ). The measure, which complements the reopening of checking accounts in foreign currency, will allow checks to be issued exclusively through electronic means, providing greater efficiency and security in transactions.

The president of the BCRA, Santiago Bausili, is promoting an initiative that is part of a broader policy to "promote the supply of financial services and products by banks" and, above all, to ensure that Argentinians can use the currency they prefer in their daily transactions.

Since the implementation of the ECHEQ in dollars requires technical adaptations in the systems of financial institutions and clearinghouses, the agency has set a compliance deadline of December 1, 2025. This will allow banking institutions to move forward without setbacks in updating their platforms and in staff training.

Previous experience with the ECHEQ in pesos demonstrated that it is an especially valuable financing tool for MiPyMEs, as it facilitates the remote negotiation of documents, reducing operational costs, travel, and verifications. The move to operations in dollars opens up a range of possibilities for foreign trade, imports, and transactions between companies that operate with foreign currency.

This resolution adds to other initiatives approved by the BCRA throughout 2025, such as the authorization of payments with debit cards in dollars, the implementation of interoperable QR codes for transactions in pesos and dollars, and the creation of scheduled DEBIN for installment payments in both currencies. All these measures are part of the same strategic objective: to restore Argentinians' ability to choose and put an end to decades of restrictions imposed by previous administrations that stifled the economy.