The Central Bank has just published BCB Resolution No. 96 of 19/5/2021, establishing new rules on the opening, maintenance and closure of payment accounts.
The regulation sets out the requirements to be observed by financial institutions, payment institutions and other institutions authorised to operate by the Central Bank of Brazil that manage payment accounts.
Among the changes is the inclusion of a list of provisions to be included in the Payment Account Opening Agreements, also known as 'Digital Account Terms and Conditions of Use'.
There has also been greater specification of the rules for post-paid payment accounts, including provisions on granting credit limits, statements and invoices.
The Resolution will come into force on 1 March 2022 and will revoke, among other rules, Circular No. 3,680/2013, which currently regulates the topic.
For further information the Payment team is at your disposal.
