Resolution BCB No. 297 — Regulates the transfer of funds via Credit Document (DOC) and Special Credit Transfer (TEC)

Resolution BCB No. 297, of March 2, 2023

Regulates the transfer of funds by means of Credit Document (DOC) and Special Credit Transfer (TEC).

The Collegiate Board of the Central Bank of Brazil, in a session held on March 2, 2023, based on arts. 11, item VI, of Law No. 4.595, of December 31, 1964, 10 of Law No. 10.214, of March 27, 2001, and 12 of Resolution CMN No. 4.952, of September 30, 2021,

RESOLVES:

CHAPTER I
OBJECT AND SCOPE OF APPLICATION

Art. 1. This Resolution regulates the transfer of funds by means of Credit Document (DOC) and Special Credit Transfer (TEC).

CHAPTER II
DEFINITIONS

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

I - DOC: order to transfer funds commanded by a natural or legal person to a financial institution and destined for a client, natural or legal person, of another financial institution;

II - TEC: order to transfer funds commanded by a natural or legal person to a financial institution so that it carries out a set of transfers destined for natural or legal persons who are clients of other financial institutions;

III - sender: person who commands the order to transfer funds;

IV - sending institution: institution that accepts and executes the order to transfer funds commanded by the sender;

V - receiving institution: institution that holds the account of the beneficiary of the order to transfer funds; and

VI - beneficiary: person to whom the transferred funds are destined.

CHAPTER III
CREDIT DOCUMENT (DOC)

Art. 3. The DOC may only be sent and received by commercial banks, multiple banks with commercial portfolios, and Caixa Econômica Federal.

Art. 4. Sending institutions that offer the fund transfer service by means of DOC are prohibited from refusing the transfer if the funds to be transferred are delivered in cash, observed the specific regulation pertinent to the prevention of the use of the financial system for the practice of money laundering and terrorist financing crimes.

Art. 5. The responsibility for the correct completion of the DOC lies with the sender client.

Sole Paragraph. The inaccuracy of the data provided in the transfer order exempts the sending and receiving institutions from responsibility for the delay or non-compliance with the requested transfer.

Art. 6. The receiving institution of a DOC is permitted to refuse and return the transferred value to the sender when the beneficiary's account is a savings account.

CHAPTER IV
SPECIAL CREDIT TRANSFER (TEC)

Art. 7. The TEC may be sent and received by financial institutions.

Art. 8. The TEC may be sent in the name of the financial institution itself or in the name of third parties, by virtue of a payment services provision contract.

Art. 9. The use of the TEC is admitted for the realization of a single credit transfer.

CHAPTER V
INTERBANK SETTLEMENT OF DOC AND TEC

Art. 10. The compensation and settlement processes of DOC and TEC must be carried out by a system approved by the Central Bank of Brazil.

Art. 11. Interbank settlement must be carried out:

I - in the case of the TEC, on the same day that the debit is made in the sender's account; and

II - in the case of the DOC, on the next business day following the debit in the sender's account.

Sole Paragraph. The interbank settlement periods referred to in items I and II of the main text must be considered in relation to the operating hours of the fund transfer system on the day the payment is executed, when the order to transfer funds is used by an institution to make payment on behalf of a third party and, according to the pertinent payment services provision contract, does not imply immediate debit in the service provider's account.

Art. 12. The funds transferred by means of DOC and TEC must be credited to the beneficiary in, at most, sixty minutes after the corresponding interbank settlement.

Sole Paragraph. The period referred to in the main text does not apply to the situation in which the receiving institution is authorized to credit the resources at a later moment than receipt, by virtue of a payment services provision contract.

Art. 13. In the case of indications of irregularity, regarding each fund transfer governed by this Resolution, the sending institution and the receiving institution may, in view of the circumstances of each case, refrain from observing, for the strictly necessary time, the periods referred to in Art. 12, with the objective of adopting the legal and regulatory measures related to the situation.

Art. 14. The funds related to DOCs that are not forwarded to the compensation and settlement system within the period established in the system's regulation must be passed on to the receiving institutions by means of Electronic Available Transfer (TED), on the first subsequent business day following the issuance, with the sending institution bearing the burden resulting from the delay.

Sole Paragraph. In the case of the occurrence referred to in the main text, no tariff motivated by return or error of responsibility of the sending institution may be charged to the sender client.

Art. 15. In the case of return of a transfer made by DOC, the sending institution must make the value available to the sender client on the day of the respective settlement and immediately inform them of the occurrence, aiming at the regularization of the transfer, with any damage caused to third parties by non-compliance with this determination being the sole responsibility of the sending institution.

Sole Paragraph. The following reasons apply for the return of a transfer carried out by DOC:

I - 51 - Discrepancy in the received value;

II - 52 - Receipt made outside the deadline;

III - 53 - Undue presentation;

IV - 56 - Insufficient transfer for the indicated purpose;

V - 57 - Discrepancy or non-completion of mandatory information;

VI - 58 - Deposit in savings account refused;

VII - 59 - Absence of the expression "International transfer in reais - Nature of the operation". Applied to DOCs destined for the international transfer of resources in national currency, issued without clearly and prominently stating the expression "International transfer in reais - Nature of the operation";

VIII - 62 - Absence or discrepancy in the indication of the CPF/CNPJ number.

CHAPTER VI
GENERAL PROVISIONS

Art. 16. The following are minimum information that must appear in the DOC and in each of the transfers contained in a TEC:

I - identification codes, in the fund transfer settlement system, of the institutions involved in the operation;

II - identification numbers of the branches and of the sender's account, except for DOC in cash, and of the recipient's account;

III - identification of the sender: name, registration number in the Individual Taxpayer Registry (CPF) or in the National Registry of Legal Entities (CNPJ);

IV - identification of the beneficiary: name, registration number in the CPF or in the CNPJ; and

V - value of the transfer order.

Sole Paragraph. In the case of fund transfer by means of DOC, in addition to the information referred to in the main text, the purpose of the transfer must appear.

Art. 17. The maximum value of each DOC and of each of the transfers carried out by means of TEC is R$4,999.99 (four thousand nine hundred and ninety-nine reais and ninety-nine cents).

Art. 18. The following are repealed:

I - Circular No. 3.224, of February 12, 2004;

II - Circular No. 3.335, of December 14, 2006;

III - Art. 11 of Resolution BCB No. 256, of November 1, 2022; and

IV - Annex I to Circular Letter No. 3.173, of February 28, 2005.

Art. 19. This Resolution enters into force on April 3, 2023.

Otávio Ribeiro Damaso

Director of Regulation