Circular No. 3422 — Dispenses on the Provision of Information Regarding the Issuance and Recharge of Values on Prepaid Cards Issued by Financial Institutions

CIRCULAR NO. 003422

Dispenses on the Provision of Information Regarding the Issuance and Recharge of Values on Prepaid Cards Issued by Financial Institutions.

The Collegiate Board of the Central Bank of Brazil, in a session held on November 25 and 27, 2008, based on Articles 10 and 11 of Law No. 9,613, of March 3, 1998,

D E C I D E D:

Art. 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must maintain records of the following occurrences:

I - issuance or recharge of values on one or more prepaid cards held by the same person, natural or legal, in cash, in an accumulated amount equal to or greater than R$10,000.00 (ten thousand reais) or the equivalent in foreign currency, in the calendar month;

II - issuance or recharge of values on one or more prepaid cards held by the same person, natural or legal, by means of debit transfer from one or more deposit accounts maintained at the institution, in an accumulated amount equal to or greater than R$100,000.00 (one hundred thousand reais) or the equivalent in foreign currency, in the calendar month;

III - issuance or recharge of values on a prepaid card that shows signs of concealing or disguising the nature, origin, location, disposition, movement, or ownership of assets, rights, and values.

Sole Paragraph. For the purposes of this circular, a prepaid card is defined as a card capable of receiving a load or recharge of values in national or foreign currency originating from cash payments, foreign exchange operations, or debit transfers from deposit accounts.

Art. 2. The record referred to in Art. 1 must contain the following information:

I - the name of the holder and the respective number of the Individual Taxpayer Registry (CPF), in the case of a prepaid card held by a natural person;

II - the name of the holder and the respective number of the National Registry of Legal Entities (CNPJ) and the name and CPF of the natural person authorized to use the prepaid card held by a legal entity;

III - the numbers of the debit deposit accounts, the number of the institution and branch, the names of the account holders and their respective CPF numbers, in the case of issuance or recharge of values on a prepaid card originating from debit transfers from deposit accounts held by natural persons;

IV - the numbers of the debit deposit accounts, the number of the institution and branch, the names of the account holders and their respective CNPJ numbers, as well as the names of the natural persons authorized to operate them and their respective CPF numbers, in the case of issuance or recharge of values on a prepaid card originating from debit transfers from deposit accounts held by legal entities;

V - the date and value of each issuance or recharge of values on a prepaid card;

VI - the reason for the issuance of the prepaid card.

Art. 3. The occurrences of issuance and recharge of values referred to in Art. 1 must be communicated to the Central Bank of Brazil, through the PCAF500 transaction, of the Central Bank Information System (Sisbacen), under classifications 81 or 82, respectively.

Art. 4. The record and communication referred to in this circular are the responsibility of the director or manager indicated in the terms of Art. 7 of Circular No. 2,852, of December 3, 1998, and must observe the procedures established in said regulation.

Art. 5. The deadline of March 1, 2009, is fixed for the adaptation of the information systems used for recording the occurrences and for the start of the respective communications, as provided in this circular.

Art. 6. This circular enters into force on the date of its publication.

Brasília, November 27, 2008.

Alexandre Antonio Tombini
Director