( Spanish) — The traditional system for managing electronic transactions in Argentina used to be the Clave Bancaria Uniforme (CBU).
He Central Bank of the Argentine Republic (BCRA) defines it as a unique form of identification for each bank account registered in the country. It is made up of 22 digits. Each digit provides account information: type, number, the bank to which it belongs, and the branch. With the CBU, money transfers, the reception and sending of deposits and the adhesion of payments and services to automatic debit are enabled.
How to consult the CBU in Argentina?
The CBU can be known through the homebanking services of financial institutions, with the debit card at any ATM or at the branches of the corresponding bank, according to the BCRA.
What is Alias CBU and what is it for?
In 2016, the BCRA resolved to create the alias CBU. This is a feature available in internet banking and mobile banking that allows customers to associate a simple alphanumeric transmission code with their CBU. According to the national government, it aims to streamline and facilitate electronic transfers and payments, making the process more accessible and secure.
The BCRA defines the CBU alias as a way of referencing a bank account through a unique and easy-to-remember code. By adding a CBU alias to an account, customers will no longer need to provide their full 22-digit CBU number when receiving a transfer or generating a payment. Instead, they should only indicate the CBU alias previously assigned to the receiving account.
The main function of the CBU alias is to promote the use of electronic transfers and payments, channeling payments for goods and services online in an agile and simple manner. This is achieved by simplifying the process of providing the information necessary to complete a transfer, reducing the possibility of errors and speeding up the execution time of transactions.
It is important to note that this new functionality not only benefits bank customers, but also transfer issuers or payment generators. They will be able to enter the CBU alias of the receiving account instead of the corresponding CBU, which further simplifies the process and speeds up the operations of the transactions.
The CBU alias must comply with certain general characteristics to guarantee its effectiveness and security. According to the BCRA, it must be unique and unrepeatable for the entire National Financial System. In addition, it is required that the historical record of transactions associated with a bank account is not altered by changes in the CBU aliases.
The implementation of the CBU alias is mandatory for all individuals and legal entities that have savings accounts or current accounts in financial institutions. As of June 1, 2017, all accounts from which transfers are made or received must have your CBU alias. If you do not create a custom CBU alias, one made up of three short and commonly used words will be assigned. However, customers have the ability to change this CBU alias to one of their choosing, as long as it meets the length requirements (between 6 and 20 characters) and contains letters, numbers, period (.) and hyphen (-) .
What is the CVU and who can get it?
The Uniform Virtual Key consists of 22 digits and its function is to facilitate the operation between users of payment service providers (electronic wallets and prepaid cards, among others) and the financial system.
According to BCRA provisions, it is made up of a first block (digits 1 to 8), which identifies the PSP to which it belongs, and the second block (digits 9 to 22) identifies the user. Like the CBU, CVU holders can generate an alphanumeric CVU alias to expedite financial transactions.
