“Proposta na Câmara dos Deputados quer proibir cobranças em contas inativas por mais de 60 dias”

Proposed Law Aims to Prohibit Bank Charges on Inactive Accounts

A new proposal presented in the Brazilian Chamber of Deputies aims to prohibit banks from charging fees on inactive accounts for more than 60 days. The proposal was authored by deputy Gerlen Diniz (PP-AC) and has the potential to benefit millions of bank account holders across the country.

The proposed legislation, known as Project of Law 772/2023, establishes that banks must notify account holders after 60 days of inactivity to verify if they intend to keep the service or not. If there is no response within 30 days, then the institution is authorized to terminate the account.

Should the proposed legislation be approved, all institutions within the Brazilian National Financial System must adhere to the new rule, with any banks found not to comply being subject to sanctions such as fines, warning messages, and even being prohibited from providing certain services.

Deputy Diniz claims that rates and fees imposed by financial institutions have become an additional source of income, further increasing the already significant profits of large banks in Brazil. He cites examples of cases where users receive unjustified charges without requesting any services.

Diniz asserted that numerous individuals open accounts to receive payroll and subsequently accumulate debt due to these added fees. It’s uncertain when the proposal will be put to a vote for approval.

Banking Fees

Fees charged by banks and other financial institutions vary depending on the product or service provided. Besides maintenance fees, some firms may charge for transactions that exceed the limit offered free of charge.

For instance, banks specify that customers can make up to four withdrawals from ATMs per month for free, and once exceeding this limit, a withdrawal fee will be imposed.

Banking services are divided into four categories: essential, priority, differentiated, and special. Some of the benefits that have been proving attractive to customers and have been attracting them toward digital institutions such as Nubank and Inter are the exemption from current account maintenance fees, and no annual fees for credit cards.

In a highly competitive banking environment, such benefits are crucial to attract customers. According to the Brazilian Central Bank, the banking sector in Brazil experienced a 14.5% increase in complaints filed by customers in the first half of 2021 regarding fees and service quality.

As banks face pressure to offer more comprehensive, customer-friendly services, prices are likely to become more competitive.

Final Considerations

Household debt in Brazil surged to a record high in 2020, fueled by stimulus checks given out to combat the pandemic’s economic damage. Consequently, Brazilians have fallen into debt and are seeking ways to save money.

Reducing fees and charges related to banking services is an effective way to prevent people from falling even further into debt. Payment of fees on inactive accounts when a person receives their wages in that account is unfair, as people should be able to access these funds without being burdened by additional fees.

If the proposed bill is approved, it will result in a significant relief for struggling Brazilians, and we hope more inclusive banking policies are put in place for individuals facing financial hardship.

In sum, reducing banking fees and charges is a welcome move that aligns with the goals of creating a more economically inclusive society, making banking services more affordable and accessible to all Brazilians, regardless of their social background or economic status.