The Central Bank of the Argentine Republic (BCRA) updated the regulations on salary accounts and formally enabled the possibility for companies to pay salaries in U.S. dollars. The measure aligns banking regulation with the Labor Modernization Law No. 27,802, promoted by the government of Javier Milei, which allows for payments in both pesos and foreign currency.
Until now, salary accounts could only be denominated in pesos. With this modification, workers will be able to choose to receive their wages in dollars through bank accounts specifically authorized for that purpose.
The Central Bank adapted the regulations to the labor reform
The decision responds to the changes introduced by Article 34 of the Labor Modernization Law, which amended Article 105 of the Labor Contract Law.
The new wording establishes that the salary can be paid in cash, either in national or foreign currency, so the Central Bank adjusted its regulations to allow financial entities to offer salary accounts in both pesos and dollars.
The monetary authority indicated that the modification aims to update the banking system in accordance with the new legal framework approved by Congress.
Dollar salary accounts will be free of charge
The new regulation maintains all the benefits currently offered by traditional salary accounts.
Workers will not have to pay opening, maintenance, or withdrawal fees, and the accounts will remain free of charge up to the amount credited by the employment relationship, even if the funds remain deposited for an extended period.
