Resolution CMN No. 2747 — Amending Rules on Opening and Closing Deposit Accounts, Service Fees, and Checks

RESOLUTION NO. 002747

Amending rules regarding the opening and closing of deposit accounts, service fees, and checks.

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 June 28, 2000, based on Articles 3, item V, and 4, items VIII and IX, of the aforementioned Law, and considering the provisions of Article 69 of Law No. 7,357 of February 2, 1985,

HAS RESOLVED:

Article 1. Amend Articles 1, 2, and 12 of Resolution No. 2,025 of November 24, 1993, which shall henceforth read as follows:

"Article 1. To open a deposit account, complete identification of the depositor is mandatory, by filling out a proposal form containing, at a minimum, the following information, which must be kept up to date by the financial institution: (NR)

I - depositor qualification:

a) natural persons: full name, parents' names, nationality, date and place of birth, sex, marital status, spouse's name, if married, profession, identification document (type, number, date of issue, and issuing authority), and number of registration in the Register of Natural Persons - CPF;

b) legal entities: corporate name, main activity, form and date of incorporation, documents containing the information referred to in the previous item, which qualify and authorize the representatives, attorneys, or agents to operate the account, number of registration in the National Register of Legal Entities - CNPJ, and constitutive acts, duly registered, in accordance with the law, with the competent authority; (NR)

II - complete residential and commercial addresses; (NR)

III - telephone number and DDD code;

IV - reference sources consulted;

V - date of account opening and respective number;

VI - depositor's signature.

Paragraph 1. If the deposit account is held by a minor or an incapacitated person, in addition to their qualification, the person who assists or represents them must also be identified.

Paragraph 2. In cases of exemption from CPF and CNPJ as provided in current legislation, this fact must be recorded in the field of the proposal form designated for this information." (NR)

"Article 2. The proposal form for a checking account must also contain clauses addressing, among other things, the following subjects:

I - balance required to maintain the account; (NR)

II - conditions established for the provision of checkbooks;

III - revoked;

IV - obligation to formally communicate, by the depositor, any changes to the data and documents referred to in Article 1 of this Resolution; (NR)

V - inclusion of the depositor's name in the Register of Issuers of Bounced Checks (CCF), in accordance with current regulations, in the event of issuing checks without sufficient funds, with the return of the checks in the depositor's possession to the financial institution; (NR)

VI - information that checks, once microfilmed, may be destroyed; (NR)

VII - procedures to be observed regarding the closing of the deposit account, respecting the provisions of Article 12 of this Resolution. (NR)

Sole Paragraph. Revoked."

"Article 12. It is the responsibility of the financial institution to clarify to the depositor the conditions required for the termination of the checking account contract by either party, and the following minimum provisions must be included in the proposal form: (NR)

I - prior written communication of the intention to terminate the contract; (NR)

II - time limit for taking measures related to the termination of the contract; (NR)

III - return to the financial institution of the check sheets in the account holder's possession, or presentation of a declaration by the latter stating that they have been destroyed; (NR)

IV - maintenance of sufficient funds by the account holder to pay commitments assumed with the financial institution or arising from legal provisions; (NR)

V - issuance of notice by the financial institution to the account holder, allowing the use of electronic means, with the date of the actual closing of the checking account. (NR)

Paragraph 1. The financial institution must keep a record of the occurrence related to the closing of the checking account. (NR)

Paragraph 2. The request to close a deposit account must be accepted even in the event of suspended, revoked, or cancelled checks for any reason, which, if presented within the statute of limitations, must be returned for the respective reasons, even after the account is closed, not exempting the issuer from their legal obligations." (NR)

Sole Paragraph. A deadline is established, until September 28, 2000, for the adaptation of procedures related to the opening, maintenance, and closing of deposit accounts, as a result of the provisions of this article.

Article 2. Article 1 of Resolution No. 2,303 of July 25, 1996, is amended, which shall henceforth read as follows:

"Article 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil are prohibited from charging remuneration for the provision of the following services:

I - provision of a magnetic card or, alternatively, at the account holder's option, a checkbook with at least ten sheets, per month, with the financial institution having the prerogative to suspend the provision of new checkbooks when: (NR)

a) twenty or more check sheets, already provided to the account holder, have not yet been cleared; or (NR)

b) less than 50% (fifty percent) of the check sheets provided to the account holder in the last three months have not been cleared; (NR)

II - replacement of the magnetic card referred to in the previous item, except in cases of replacement requests made by the account holder resulting from loss, theft, damage, and other reasons not attributable to the issuing institution;

III - issuance of documents intended for the release of guarantees of any nature, including by consortium administrators; (NR)

IV - return of checks by the Check and Other Papers Clearing Service (SCCOP), except for insufficient funds, in which case the charge may only be levied on the issuer of the check; (NR)

V - maintenance of savings deposit accounts, demand accounts of the judiciary, and deposit accounts for payment as provided in Law No. 8,951 of December 13, 1994; (NR)

VI - provision of a monthly statement containing all transactions of the month.

Paragraph 1. The prohibition on charging remuneration for the maintenance of savings accounts does not apply to those:

I - whose balance is equal to or less than R$20.00 (twenty reais); and

II - that do not show records of deposits or withdrawals, for a period of six months. (NR)

Paragraph 2. In the cases covered by Paragraph 1, the charging of remuneration may only occur after the crediting of earnings for each period, limited to the greater of the following values:

I - corresponding to 30% (thirty percent) of the balance existing in each month;

II - R$4.00 (four reais) or the existing balance, when lower than this value.

Paragraph 3. The services mentioned in this article are mandatory, observing the operational characteristics of each type of financial institution, and, regarding the provision of checkbooks, the conditions established in the proposal form for the checking account." (NR)

Article 3. Suspension (opposition) and counter-order (revocation) apply only to checks with the formal characteristics foreseen by law, and do not apply to blank check sheets that have been stolen, robbed, or lost, which must be subject to cancellation by the financial institution.

Paragraph 1. To effectuate the suspension and counter-order of checks, financial institutions that operate in the capture of demand deposits must require, in accordance with the law, a written request from the interested party, justified by a relevant legal reason, with the institution not being required to examine the merits or relevance of the justification.

Paragraph 2. To effectuate the cancellation of checks already delivered to the account holder, the financial institution must receive a request from the latter, with a declaration of the reason.

Paragraph 3. Requests for suspension, counter-order, and cancellation of checks must be subject to the identification of the interested party, recorded by signature on a written document, electronic password, or device capable of being used as proof for legal purposes.

Paragraph 4. Requests for suspension, counter-order, and cancellation of checks may be made provisionally by telephone communication or electronic means, in which case their acceptance will be maintained for a maximum period of two business days, after which, if not confirmed in accordance with Paragraphs 1 to 3, they must be considered non-existent by the financial institution.

Paragraph 5. Checks returned due to suspension, counter-order, and cancellation, when re-presented, must follow normal course, verifying, as applicable, the following conditions:

I - withdrawal of the suspension or counter-order by the opposer or the issuer;

II - non-confirmation of the provisional request for suspension or counter-order, in accordance with Paragraph 4;

III - non-confirmation of the provisional request for cancellation, in accordance with Paragraph 4, provided that the authenticity of the issuer's signature is proven.

Article 4. Charging fees for the renewal of suspension, counter-order, and cancellation of checks is prohibited, which, once carried out, through the corresponding request in accordance with current legislation and regulations, must produce their respective legal effects without a predetermined deadline.

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

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

Article 7. Article 2 of Resolution No. 2,537 of August 26, 1998, is revoked.

Brasília, June 28, 2000

Luiz Fernando Figueiredo
Substitute President