Argentina's banks will soon have to offer free savings accounts and reduce the fees they charge for electronic transactions as part of a government initiative to reduce the use of cash amid public outrage over a spate of robberies outside banks and ATMs.
Next month, financial institutions will have to make available a free, peso-denominated basic savings account with a debit card and a balance limit of 10,000 pesos ($2,530), according to a central bank press release. Starting in November, account holders will be able to make free Internet banking and ATM transactions of up to a certain amount each day.
