The Argentine government has been attempting to deregulate the salary payment system to public employees, traditionally dominated by Banco Nación. Despite ongoing efforts since 2024 to shift salary accounts to various private banks, Banco Nación successfully retained the majority of accounts from different ministries. The Ministry of Deregulation and State Transformation, led by Federico Sturzenegger, was the only ministry that managed to change the salary disbursement to a private financial entity as part of a broader push to move away from governmental monopolies in banking services.

The administrative decision formalized in April through the Chief of Cabinet initiated significant reforms aimed at diversifying salary payment channels. This move allowed for the selection of eight alternative banking institutions that will handle the opening, management, and maintenance of state salary accounts, with no fees for the next three years, possibly extending further. The selected banks include Credicoop, Patagonia, Santander, and others, indicating a shift towards diversification in public service banking.

This change comes as part of a larger effort by the government to reform public financial operations and reduce reliance on a single institution. However, the overwhelming retention of accounts by Banco Nación highlights the challenges faced in fully implementing this policy. Sturzenegger's ministry's success may be a stepping stone for further reforms if the government continues to push towards increased competition and reduced monopoly in the sector.