CMN Resolution No. 2718 - National Deregulation Program - Payment of Salaries, Pensions, and Similar Benefits Without Fees

RESOLUTION NO. 002718

NATIONAL DEREGULATION PROGRAM - Provides for the provision of salary, pension, and similar payment services without charging fees.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the NATIONAL MONETARY COUNCIL, in a session held on April 24, 2000, based on Articles 3, item V, and 4, items VIII and IX, of the aforementioned Law, and considering the content of Article 464, sole paragraph, of Decree-Law No. 5,452 of May 1, 1943, with the wording given by Article 3 of Law No. 9,528 of December 10, 1997,

RESOLVES:

Article 1. It is optional for financial institutions, in the provision of services for the payment of salaries, wages, pensions, alimony, and similar benefits, to credit the respective amounts in the name of the beneficiaries by using non-checkable accounts intended for the registration and control of the flow of funds, to which the provisions of Resolution No. 2,025 of November 24, 1993, do not apply.

Sole Paragraph 1. In the provision of the services referred to in this article, financial institutions are prohibited from charging beneficiaries, for any reason, fees intended to reimburse the performance of the services, and must observe, in addition to the conditions set forth in this Resolution, the specific legislation regarding each type of payment and other applicable norms.

Sole Paragraph 2. The prohibition on charging fees referred to in the preceding paragraph also applies to transfer operations of the credits to other financial institutions, when carried out by the beneficiaries for the total amount credited.

Sole Paragraph 3. The use of the accounts referred to in this article for the making of any payments to legal entities is prohibited.

Article 2. The contractual instrument signed between the financial institution and the paying entity must contain, among others, clauses establishing:

I - the method of effecting payments to beneficiaries, prohibiting the movement of funds by means of checks, except when provided for in the terms of Article 3, paragraph 3, noting that the eventual provision of a magnetic card must be exempt from fees for beneficiaries, except in the cases established by item II of Article 1 of Resolution No. 2,303 of July 25, 1996;

II - the responsibility of the contracting entity regarding the identification of beneficiaries, considering the pertinent legal provisions and the fulfillment of contractual purposes;

III - the responsibility of the contracting entity to inform the contracted financial institution of the eventual exclusion of the beneficiary from its records, as soon as the last payment related to their previous status is made;

IV - the remuneration conditions, by the contracting entity to the contracted financial institution, observing the content of Article 1, paragraphs 1 and 2.

Sole Paragraph. The identification of beneficiaries by the contracting entity must include, at a minimum, identity document and number of registration in the individual taxpayers' registry, prohibiting the use of abbreviated names or any altered form, including by suppression of part or parts of the beneficiary's name.

Article 3. In the registration accounts used by the financial institution to control the flow of funds related to the provision of services under the terms of Article 1, only values originating from the contracting entity, in compliance with the object of the contractual instrument, may be credited, prohibiting the acceptance of deposits from other sources.

Paragraph 1. After the credit is effected by order of the contracting entity, the funds may only be moved by the beneficiary.

Paragraph 2. From the communication of exclusion of the beneficiary referred to in Article 2, item III, no new credits may be admitted in the account previously used to control the funds paid to the said beneficiary.

Paragraph 3. In the case where the beneficiary is the holder of a deposit account, opened by them with the contracted financial institution, the credit resulting from the payment service may, at the discretion of the account holder, be made directly into this account, subject to the contractual conditions established upon its opening, and to the general discipline regarding deposit accounts, prohibiting the charging of fees for the realization of said credit.

Article 4. The contracted financial institution is responsible for observing the procedures related to the prevention and combat of activities related to the crimes provided for in Law No. 9,613 of March 3, 1998.

Article 5. The Central Bank of Brazil is authorized to issue norms and adopt measures deemed necessary for the execution of the provisions of this Resolution.

Article 6. This Resolution enters into force on the date of its publication.

Brasília, April 24, 2000

Arminio Fraga Neto
President

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