Resolution CMN No. 3402 on the Provision of Payment Services for Salaries, Pensions, and Similar Benefits Without Charging Fees

Resolution No. 3,402, of September 6, 2006 1

RESOLUTION NO. 3,402

Provides for the provision of payment services for salaries, pensions, and similar benefits without charging fees.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes it public that the MONETARY COUNCIL, in an extraordinary session held on September 5, 2006, based on Articles 3, item V, and 4, items VIII and IX, of the aforementioned law,

R E S O L V E D:

Article 1. From January 1, 2007, financial institutions, in the provision of payment services for salaries, pensions, wages, salaries, retirement benefits, pensions, and similar benefits, are obliged to credit the respective amounts in the names of the beneficiaries by using non-checkable accounts intended for the registration and control of the flow of resources, to which the provisions of Resolution 2,025 of November 24, 1993, with the amendments introduced by Resolutions 2,747 of June 28, 2000, and 2,953 of April 25, 2002, nor Resolution 3,211 of June 30, 2004, apply.

Sole Paragraph. The opening of the registration accounts referred to in this article is prohibited for legal entities as titleholders.

Article 2. In the provision of services under Article 1:

I - it is prohibited for the contracted financial institution to charge the beneficiaries, for any reason, fees intended to reimburse the performance of the services, observing, in addition to the conditions provided in this resolution, the specific legislation regarding each type of payment and other applicable norms;

II - the contracted financial institution must ensure the option to transfer, with same-day availability, the credits to a deposit account owned by the beneficiaries, freely opened by them in accordance with Resolution 2,025 of 1993 and subsequent amendments, or Resolution 3,211 of 2004, at other financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

§ 1. The prohibition on charging fees referred to in item I applies, inclusive, to the following operations:

I - withdrawals, total or partial, of the credits;

II - transfers of the credits to other institutions, when performed by the beneficiaries for the total credited amount, allowing the deduction of any discounts contracted with them to be executed in the accounts referred to in Article 1, relating to installments of loan, financing, or leasing operations.

Resolution No. 3,402, of September 6, 2006 2

§ 2. For the purposes of the caput, item II, the indication of the deposit account to be credited must be communicated by the beneficiary to the contracted financial institution, as a permanent instruction, in writing or by using an electronic means legally accepted as a formal relationship instrument, observing the institution's obligation to accept it within a maximum period of five business days, counted from the date of receipt of the said communication.

§ 3. The indication referred to in § 2 is dispensed with when it concerns a beneficiary who, on the date of entry into force of this resolution, is exercising the right to use the option provided therein.

Article 3. In the case of a beneficiary who is the titleholder of a deposit account, opened at their initiative at the contracted financial institution, the credits resulting from the payment service may, at their discretion, observing the provisions of Articles 1 and 2, §§ 2 and 3, be transferred to this account, prohibiting the charging of fees to the beneficiary for the execution of said credits.

Article 4. The contractual instrument signed between the financial institution and the contracting entity for the provision of services under Article 1 must contain, among others, clauses establishing:

I - the conditions and procedures for making payments to beneficiaries;

II - the exemption from fees for the eventual provision of magnetic cards to beneficiaries, except in the cases established by Article 1, item II, of Resolution 2,303 of July 25, 1996, with the wording given by Article 2 of Resolution 2,747 of 2000;

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

IV - 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;

V - the remuneration conditions, by the contracting entity to the contracted financial institution, observing the provisions of Article 2, item I and § 1.

Sole Paragraph. The identification of beneficiaries by the contracting entity must include, at minimum, their respective identity document numbers and registration numbers in the Individual Taxpayer Registry (CPF), prohibiting the use of abbreviated names or any altered form, including by suppressing part or parts of the beneficiary's name.

Article 5. In the registration accounts used by the contracted financial institution to control the flow of resources regarding the provision of services under 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 credits from other sources.

Resolution No. 3,402, of September 6, 2006 3

§ 1. After the credit is executed by order of the contracting entity, the resources can only be moved by the beneficiary.

§ 2. From the communication of the beneficiary's exclusion, referred to in Article 4, item IV, no new credits may be admitted in the account previously used to control the resources paid to them.

Article 6. The contracted financial institution is responsible for observing the procedures related to the prevention and combat of activities related to the crimes predicted in Law No. 9,613 of March 3, 1998.

Article 7. The application contained in Articles 1 to 5 to the provision of payment services referred to in Article 1 that are the subject of agreements or contracts signed by financial institutions until September 5, 2006, will be regulated by December 31, 2006.

Sole Paragraph. The provisions of Articles 1 to 5 apply to cases of extension, repactuation, renegotiation, or any other alteration that occurs, from September 6, 2006, in agreements or contracts referred to in the caput.

Article 8. The Central Bank of Brazil is authorized to adopt the measures deemed necessary for the operationalization of the provisions of this resolution.

Article 9. This resolution enters into force on the date of its publication.

Article 10. Resolution 2,718 of April 24, 2000, is repealed, from January 1, 2007.

Brasília, September 6, 2006.

Henrique de Campos Meirelles
President

This text does not replace the published version in the DOU and Sisbacen.