Circular No. 1230 - Commercial Banks - Cash Collection and Delivery Service at Home

CIRCULAR NO. 001230

To
Commercial Banks and Savings Banks

We inform you that the Board of Directors of the Central Bank of Brazil, in a session held on this date, resolved that the cash collection and delivery service at home - one of the unconventional services mentioned in item V of Resolution No. 1,122, of 04.04.86, whose remuneration, not being subject to a regulated tariff, is freely negotiated between the parties - may be provided by commercial banks and savings banks, through contracts with the beneficiaries, regardless of specific authorizations from the Central Bank.

2. In carrying out the services in question, commercial banks and savings banks must observe:

a) the general principles of security and discretion that must safeguard the movement of values outside their branches;

b) the conditions established in Articles 9 and 11 of Decree No. 89,056, of 24.11.83, when the cash transported reaches amounts within the ranges specified therein.

3. Consequently, Section 16-10-4 of the Manual of Norms and Instructions (MNI) shall come into force with the wording indicated on the attached sheet.

Brasília-DF, September 22, 1987

Wadico Waldir Bucchi
Director

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TITLE: COMMERCIAL BANKS - 16
CHAPTER: Ancillary Operations - 10
SECTION: Cash Collection and Delivery at Home - 4 (*)

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1 - The commercial bank may provide cash collection and delivery services at home, through a contract with the service beneficiary, regardless of prior authorization from the Central Bank. (Circ. 1.230 -1)

2 - In carrying out the services provided for in the previous item, the commercial bank must observe the general principles of security and discretion that must safeguard the movement of values outside the premises of its branches and, in particular, the following requirements: (Circ. 1.230 -2)

a) the transport of cash in an amount greater than 500 (five hundred) times the highest current Reference Value (MVR) in the Country must be carried out in a special vehicle, belonging to the commercial bank itself or to a specialized company; (Circ. 1.230 -2; Decree 89.056/83-art. 9.)

b) the transport of cash between 200 (two hundred) and 500 (five hundred) times the MVR may be carried out in a common vehicle, with the presence of two duly qualified guards. (Circ. 1.230 -2; Decree 89.056/83-art. 11)

3 - Vehicles are considered special, for the purposes of the provision in item "a" of the previous item, those that meet the security and minimum crew requirements established by the Ministry of Justice. (Circ. 1.230; Decree 89.056/83-art. 9., Paragraph 1.)

4 - Special vehicles for the transport of valuables must be maintained in perfect condition and must be subject to periodic inspections by the competent traffic and police authorities. (Circ. 1.230; Decree 89.056/83-art. 9., Paragraphs 2. and 3.)

5 - The remuneration for the services covered by this section is freely negotiated between the contracting parties. (Res. 1.122-V)