What happens if I transfer money between my accounts? The 5 most common mistakes when making this transaction

Technology is transforming financial management from digital banking and mobile application even cryptocurrencies. These tools make management easier money and open up new investment and savings opportunities. Information and accountability are essential to maximizing the benefits of these platforms safely and effectively.

When transferring money between bank accounts or towards ka digital wallet, and financial institution acceptance of funds carries out certain checks. These procedures aim to verify the origin of the money and its legality. This process is necessary to prevent money laundering and to ensure compliance of all transactions with tax regulations. The AFIP (Federal Administration of Public Revenue) has access to this information to monitor whether income is properly reported and taxes are current. This is especially important when large amounts are involved.

In the event that large-scale operations are carried out, the bank or the tax authority may require the user to submit documentation proving the origin of the funds. Some of the documents they may request include payslips, pension income statements, invoices issued for the last six months or income certificates signed by public accountants.

The values ​​are general and taxpayers who have empty revenue operations may not be required to meet these parameters exactly. Financial institutions create a profile for each of them customer, taking into account factors such as length of employment, previous income and bank transactions. However, the process each bank uses to evaluate these profiles is confidential. Banks are trying to prevent people from speculating about the amounts for which they could request documentation.

In case of exceeding the set limits, the bank may ask the user to justify the origin of the funds. The application usually arrives via email, in which supporting documentation is required, such as recent invoices, payslips, pension benefits or certificates signed by accountants. Although the criterion “sanity” varies from one entity to another, it is always expected that bank movements can be justified by proof of the origin of the funds.

The AFIP (Federal Administration of Public Revenue) introduced new provisions regarding limits bank transfers and control of fund movements through digital wallets. Transfers, balances and consumption that exceed 400,000 dollars They will be investigated. This regulation has been implemented by the administration in charge Florence Misrahi and also defines new limits for monthly balances. In this sense, the limit should not be exceeded $700,000 so as not to be subject to the control of the supervisory authority.

The new AFIP measure applies to banks and others financial entities. These institutions will be required to inform AFIP of any movement that exceeds the specified amounts. This policy is part of a broader strategy that seeks to strengthen the control and transparency of financial transactions.

As part of this update, an auto-adjustment mechanism is incorporated, which is used every six months. This adjustment is based on deviations in General Consumer Price Index (CPI)issued INDEC (National Institute of Statistics and Census). In this way, the established limits are updated according to inflation, ensuring that the amounts controlled by the AFIP remain in line with the economic reality of the country.

The main objective of these measures is to ensure that the origin of funds circulating through digital wallets and bank accounts is legal. In the event that the specified transfer or balance limits are exceeded, AFIP will proceed to investigate the fiscal situation of the taxpayers involved.

When transferring between own accountsit is common to make mistakes that can cause fiscal and financial problems. One of the most common mistakes is exceeding the set parameters AFIP (Federal Revenue Administration). Current regulations stipulate that movements of funds between own accounts may not exceed $400,000 a month for persons without declared income, including income and expenses. Exceeding this limit without formal income or without being able to document the origin of the money may lead AFIP to request an explanation. To avoid this problem, it is advisable to maintain strict control of transfers and, in case of exceeding the limits, have documentation justifying the origin of the funds.

Another frequent mistake is the lack of sufficient documentation to justify the origin of the transferred funds. Even if it is an operation between the accounts of the same owner, AFIP may request proof of where the money comes from, especially when the established limits are exceeded. It is important to have salary certificates, purchase and sale certificates, pension income vouchers or certificates issued by public accountants, among others. Lack of supporting documents may result in the issuance of a Report of Suspicious Operation (ROS)which the bank or financial institution sends to Financial Information Unit (UIF) for your research. Penalties may vary depending on the size of the transaction and the severity of the situation.

Another common mistake is unnecessary transfers between one’s own accounts. Many people split their money between different bank accounts or digital wallets in an attempt to take advantage of specific benefits from each, without considering that this may exhaust the margin over which AFIP controls these movements. It is recommended to use directly the account on which the operation is planned, thereby reducing the number of movements and avoiding the requirement to justify unnecessary transfers by AFIP.

Likewise, ignoring requests for justification of funds from financial entities or virtual wallets is a mistake that can have consequences. When movements that exceed AFIP limits are detected, financial institutions usually ask the user to justify the origin of the money via e-mails. If there is no timely response or the origin cannot be substantiated, the bank can generate a STR. In order to avoid this situation, it is essential to respond to these requests in a timely manner and provide the required documentation.

Finally, although most banks and digital wallets have expanded transfer limits, some users may still face problems exceeding these margins. Some financial institutions have transfer limits that they reach $100,000,000 in pesos and $1,250,000 in dollars. If these amounts are exceeded, the bank may temporarily block the account or request additional justification. It is important to know the limits of each bank or digital wallet to avoid complications.