Argentina's central bank enables dollar salary accounts

The Banco Central de la República Argentina (BCRA) issued Communication “A” 8460, updating the banking regulations to allow the opening of "cuentas sueldo" denominated in U.S. dollars. The change implements the provisions of Law 27.802 – the Modernisation Labour Law – which permits salaries to be paid in foreign currency when agreed between employer and employee. The new accounts retain the same free‑of‑charge regime as peso accounts: no fees for opening, maintenance, transfers or withdrawals, and balances can remain indefinitely without cost.

Banks must accept deposits and cash withdrawals of dollars at the branch where the account is held; withdrawal at other branches, ATMs or self‑service terminals depends on each bank’s cash‑availability. The measure is optional for companies and does not force a shift to dollar wages, but it offers a tool for firms that earn revenue in foreign currency – such as exporters, tech firms and multinational subsidiaries – provided they can access the official foreign‑exchange market.