CMN Resolution No. 4771 — Procedures for Authorization and Cancellation of Debit Authorizations for Deposit and Salary Accounts

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 December 19, 2019, based on Articles 3, item V, 4, item VIII, and 37 of the aforementioned Law,

R E S O L V E S:

CHAPTER I

OBJECT AND SCOPE OF APPLICATION

Art. 1 This Resolution establishes procedures for the authorization and cancellation of authorization for debits in deposit accounts and in the account of record referred to in Resolution No. 3,402 of September 6, 2006 (salary account).

Art. 2 For the purposes of this Resolution, the following are considered:

I - depository institution: financial institution holding the account to be debited; and

II - recipient institution: financial institution, payment institution, or other institutions authorized to operate by the Central Bank of Brazil, recipient of the resources related to the debit in the account or holder of the account to be credited.

CHAPTER II

AUTHORIZATION OF DEBITS

Art. 3 The realization of debits in the accounts mentioned in Art. 1 depends on prior authorization by its holder.

§ 1 The authorization of debits in the account may be formalized at the depository institution or through the recipient institution.

§ 2 The authorization referred to in the main text must:

I - have a specific purpose;

II - specify the account to be debited;

III - be provided in writing or electronically; and

IV - stipulate the term, which may be indefinite.

§ 3 The authorization referred to in the main text may specify dates for the realization of debits.

§ 4 For the purposes of item II of § 2, when it concerns authorization of debits formalized by the customer at the depository institution, the specification of more than one account for the realization of debits is admitted, respecting the order of precedence defined by the holder.

Art. 4 In cases of debits resulting from obligations related to credit operations or financial leasing, in addition to the requirements contained in Art. 3, the authorization of debits in the account must:

I - be individualized and linked to each contract; and

II - contain an unequivocal manifestation by the account holder regarding the eventual option to realize debits on a credit limit in the account, if applicable.

§ 1 Only one partial posting in the debited account is admitted for settlement of the obligation, exclusively on its due date.

§ 2 The realization of debits that result in the granting of advances to depositors is prohibited.

§ 3 For the purposes of item II of the main text, the request for the manifestation must appear in a prominent form in the operation contract, with the possibility of free choice of options by the holder.

CHAPTER III

AUTHORIZATION OF DEBITS THROUGH THE RECIPIENT INSTITUTION

Art. 5 The authorization of debits in the account granted by the holder through the recipient institution must observe the following procedures:

I - communication between the recipient and depository institutions must be carried out electronically, with a minimum advance notice of ten days for the realization of the debit by the depository institution;

II - in the case of debits resulting from operations referred to in Art. 4, the communication must:

a) inform that it concerns authorization of debit related to operations of this kind; and

b) indicate the debit options defined by the customer referred to in item II of Art. 4; and

III - the depository institution must communicate to the account holder and to the recipient institution the acceptance of the authorization within two business days counted from the date of its receipt.

§ 1 The electronic means for the communication referred to in item I of the main text must be defined by the depository institutions, observing:

I - the adoption of a single common standard among the institutions involved;

II - the full accessibility of the recipient institutions; and

III - the availability of the necessary information for communication to the recipient institutions.

§ 2 The procedures provided for in this article apply to services provided by the recipient institution itself or by institutions and entities belonging to the same prudential conglomerate.

CHAPTER IV

CANCELLATION OF THE AUTHORIZATION OF DEBITS

Art. 6 The account holder is assured the right to cancel the authorization of debits.

Sole paragraph. The cancellation of the authorization of debits may be formalized at the depository institution or through the recipient institution.

Art. 7 The cancellation of the authorization of debits carried out through the recipient institution must observe the following procedures:

I - the recipient institution must forward to the depository institution the cancellation request received from the holder within two business days counted from receipt; and

II - communication between the recipient and depository institutions must be carried out electronically, observing the provisions of § 1 of Art. 5, with a minimum advance notice of one business day for the realization of the cancellation of the debit by the depository institution.

Art. 8 The depository institution must communicate to the account holder and, if applicable, also to the recipient institution, the acceptance of the cancellation of the authorization of debits within two business days counted from the date of its receipt.

Art. 9 The cancellation resulting from obligations referred to in Art. 4 must be requested by the holder through the recipient institution, observing the provisions of the main text of Art. 6.

Sole paragraph. The cancellation referred to in the main text may be carried out at the depository institution, if the customer declares that they do not recognize the authorization.

Art. 10. The closure of all accounts subject to the authorization of debits, without the corresponding indication of another account to replace them, is equivalent to the cancellation of the granted authorization.

CHAPTER V

GENERAL PROVISIONS

Art. 11. The depository institution must adopt procedures and controls that confirm the identity of the holder and ensure the authenticity of the authorization and the cancellation of the authorization of debits in the account.

Sole paragraph. In the case of authorization and cancellation of the authorization of debits requested by the holder through the recipient institution, the adoption of the procedures and controls referred to in the main text must be carried out exclusively by that institution, even when involving services provided by institutions and entities of the same prudential conglomerate.

Art. 12. The depository institution must make available to the account holder information on:

I - the valid authorizations of debits in the account on the date of consultation by the holder; and

II - the debits authorized to be posted in the account in the future.

Art. 13. The documents proving the authorization of debits, including its authenticity and its eventual cancellation, as well as the declaration referred to in the sole paragraph of Art. 9, must be kept available to the Central Bank of Brazil for a minimum of five years, counted from the end of the term of the authorization.

Art. 14. It is permitted, in credit operation contracts and financial leasing contracts, the inclusion of a clause that provides for:

I - a reducer incident on the stipulated remuneratory interest rate, in the event that the holder authorizes the settlement of contractual obligations through debit in the account; and

II - exclusion of the reducer referred to in item I, in the event of cancellation of the authorization of debits, at the initiative of the holder, without the corresponding indication of another authorization to replace it.

Sole paragraph. In the case of provision of the contractual clause referred to in this article, credit operation or financial leasing contracts must inform the remuneratory interest rates and the Effective Total Cost (CET) applicable in each of the hypotheses provided for in items I and II of the main text.

Art. 15. Institutions must indicate to the Central Bank of Brazil a director responsible for compliance with the obligations provided for in this Resolution.

Sole paragraph. The director mentioned in the main text may perform other functions in the institution, provided there is no conflict of interest.

CHAPTER VI

FINAL PROVISIONS

Art. 16. The Central Bank of Brazil is authorized to issue norms and adopt measures deemed necessary for the fulfillment of the provisions of this Resolution.

Art. 17. The following are revoked:

I - Articles 3 and 4 of Resolution No. 3,695 of March 26, 2009; and

II - Article 2 of Resolution No. 4,649 of March 28, 2018.

Art. 18. This Resolution enters into force on May 1, 2020.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil