Virtual wallets offer rates of up to 22% annually, while bank fixed-term deposits pay between 16.5% and 19.5%
Banco Galicia: 17.19%.
According to the data included in the survey, the rates for traditional fixed terms at the ten main private banks range between 16.5% and 19.5% TNA.
In the case of Banco Nación, the reported rate is 18.75% annually. Unlike interest-bearing accounts, the traditional fixed term immobilizes funds for a minimum of 30 days.
Trascendo compares the total annualized yield based on the last daily interest effectively credited to each account. It does not use the projected Annual Effective Rate (TEA) for twelve months or the promotional Nominal Annual Rate (TNA) of each platform.
The methodology aims to compare how much money yields on a day-to-day basis, regardless of the differences in how each company communicates its rates.
Interest-bearing accounts allow for generating interest while the money remains available for everyday expenses. According to the survey, digital platforms use Money Market Mutual Funds (FCI) to pay interest on balances.
Liquidity: wallets allow immediate access to funds, 24/7, for payments, transfers, and purchases with debit cards or QR codes.
Fixed term: the capital is immobilized for a minimum of 30 days, with a fixed rate agreed upon at the time of establishment.
Rate variation: the yields of the FCIs can change daily based on the conditions of the financial system.
Balance limits: some platforms, like Naranja X, pay interest only up to a certain balance. The excess does not generate interest.
The rates of virtual wallets are variable and can change over time. It is also important to check if the platform sets a limit on interest-bearing balances, as the excess may not generate interest.
The survey by Trascendo and the information regime of rates from the Central Bank of the Argentine Republic (BCRA) are the mentioned sources for comparing yields.
The virtual wallets offer annual nominal rates between 17.2% and 22%, according to the latest weekly survey, matching or even surpassing those of the main banks for a traditional fixed term, whose rates range from 16.5% to 19.5% annually.
The YPF app has entered the ranking with an annual rate of 17.24%. Unlike fixed terms, interest-bearing accounts allow immediate access to funds and generate daily interest.
The survey by Trascendo placed Banco Bica in first place, with an annualized return of 22%. Following are Lemon Cash and Cocos Pay, with rates above 20%.
Banco Bica: 22%.
Lemon Cash: 20.60%.
Cocos Pay: 20.44%.
Carrefour Banco and Fiwind: 20%.
Personal Pay, Cencopay, Claro Pay, and Ualá via FCI: 19.35%.
Naranja X, Montemar Pay, and Brubank: 19%.
Mercado Pago, Prex, and Taca Taca: 18.98%.
Supervielle: 17.89%.
YPF App: 17.24%.
