Central Bank launches service to find money “lost” by Brazilians in banks

RIO DE JANEIRO, BRAZIL – There are some R$8 (US$1.5) billion lying idle in financial institutions, money that belongs to Brazilians by right. But there was no simple and direct way to access these resources until now. This will change with a new service launched on Monday, January 24, by the Central Bank of Brazil.

In a first stage, it will be possible to consult and redeem amounts that, altogether, reach R$3.9 billion.

These amounts are to be returned as a result of:

• Checking or savings accounts closed with an available balance;
• Unduly charged fees and installments or obligations related to credit operations, provided that the return is foreseen in a term of commitment signed by the bank with the Central Bank;
• Capital quotas and sharing of net surpluses of beneficiaries and participants in credit unions;
• Unsought resources related to closed consortium groups.

An additional R$4.1 billion is expected to be made available throughout 2022, from amounts arising from:

• unduly charged fees and installments or obligations related to credit operations , whether or not provided for in a term of commitment with the Central Bank;
• Pre- and post-paid payment accounts closed with an available balance;
• Registration accounts held by brokers and securities dealers closed with an available balance;
• Other situations that entail amounts to be returned, as recognized by institutions.

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