What changes are coming for these apps' rates?
The president of the BCRA announced an increase in reserve requirements that will affect money market funds.
In a context of controlled inflation, they offer competitive interest rates without the need to immobilize the money
The president of the BCRA announced an increase in reserve requirements that will affect money market funds.
According to a report by Grupo IEB, this will directly impact the daily returns of these wallets.
Banks will have to keep more funds immobilized. That reduces their margin to offer high rates. There have already been early redemptions from FCI in anticipation of this adjustment, which could put downward pressure on returns.
Currently, fixed-term deposits are around 2.87% monthly, while interest-bearing accounts average 2.02%. With projected inflation below 1.5%, rates are expected to continue adjusting.
A virtual wallet is an app that centralizes all your money on your phone. It allows you to send, receive, invest, and pay without needing to go through a bank or use cash.
Monthly inflation remains below 2%, which allows for a clearer evaluation of savings options. Today, interest-bearing accounts offered by financial apps compete directly with fixed-term deposits.
With fewer requirements than traditional banks, many virtual wallets have managed to attract the funds of those seeking to outpace inflation.
These are the latest available data on the Nominal Annual Rate (TNA) paid by each platform:
In some cases, rates depend on the amount invested or the province of residence.
