Circular No. 3918 — Amends Circular No. 3691, of 16 December 2013, to improve the provisions relating to cards for international use

BANCO CENTRAL DO BRASIL

CIRCULAR No. 3.918, OF 28 NOVEMBER 2018

Amends Circular No. 3.691, of 16 December 2013, to improve the provisions relating to cards for international use.

The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on 26 November 2018, based on arts. 9, 10, item VII, and 11, item III, of Law No. 4.595, of 31 December 1964, and on art. 6 of Resolution No. 3.568, of 29 May 2008,

R E S O L V E :

Art. 1 Circular No. 3.691, of 16 December 2013, shall come into force with the following amendments:

“Art. 128-A. With respect to expenses in foreign currency, the issuer of a credit card for international use issued in Brazil:

I - must mandatorily offer the customer the system of payment of the invoice by the amount equivalent in reais on the date of each expense, presenting the following information on the invoice:

a) the itemization of each expense, including at least its date, the identification of the foreign currency and the amount in said currency;

b) the equivalent amount in United States dollars on the date of each expense;

c) the conversion rate from United States dollars to reais on the date of each expense; and

d) the amount in reais to be paid by the customer, resulting from the conversion of the amount in subitem “b” of this item, using the conversion rate referred to in subitem “c” of this item;

II - may offer the customer an alternative system of payment of the invoice by the amount equivalent in reais on the day of its payment, provided that the adoption of this system is conditioned on the customer expressly opting to accept it, and the following must be presented on the invoice:

a) the identification of the currency; and

b) the itemization and the date of each expense in the currency in which it was made and its equivalent amount in reais.

Sole paragraph. For the stock of cards already issued, activated or not, the system referred to in item I must be adopted, unless the issuer offers and the customer expressly opts for the system referred to in item II.” (NR)

“Art. 128-B. In the case of a card for international use issued in Brazil, the issuer must, by 10 a.m., Brasília time:

I - make available in all of its customer service channels the conversion rate from United States dollars to reais used on the previous day referring to the foreign currency expenses of its customers; and

II - publish, in the form and conditions established by the Central Bank of Brazil, information on the history of the conversion rates referred to in item I.” (NR)

Art. 2 Item I of the sole paragraph of art. 128 of Circular No. 3.691, of 2013, is revoked.

Art. 3 This Circular enters into force on 1 March 2020.

Otávio Ribeiro Damaso
Director of Regulation

This text does not replace the one published in the DOU of 29/11/2018, Section 1, p. 25/26, and in Sisbacen.

Circular No. 3.918, of 28 November 2018