Resolution CMN No. 5058 — Provisions on the Provision of Payment Services for Salaries, Pensions, and Similar Benefits by Financial Institutions

RESOLUTION CMN NO. 5,058, OF DECEMBER 15, 2022

Provides for the provision of payment services for salaries, pensions, wages, salaries, retirement benefits, and similar benefits by financial institutions.

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 15, 2022, based on Articles 4, items VIII and IX, of the aforementioned Law,

R E S O L V E D:

CHAPTER I
OBJECT AND SCOPE OF APPLICATION

Article 1. This Resolution provides for the provision of payment services for salaries, pensions, wages, salaries, retirement benefits, pensions, and similar benefits by financial institutions.

CHAPTER II
PROVISION OF PAYMENT SERVICES FOR SALARIES, PENSIONS, WAGES, SALARIES, RETIREMENT BENEFITS, PENSIONS, AND SIMILAR BENEFITS

Article 2. The institutions referred to in Article 1, for the purpose of providing the payment services governed by this Resolution to contracting entities, are obliged to proceed with the respective credits in the beneficiary's salary account.

§ 1. For the purposes of this Resolution, a salary account is considered to be the account intended for the registration and control of the flow of resources related to the payment of salaries, pensions, wages, salaries, retirement benefits, pensions, and similar benefits.

§ 2. The institutions referred to in Article 1 must inform the beneficiary, by any available means of communication, regarding the opening of the salary account, clarifying, at a minimum, the concept, characteristics, basic rules for moving resources, situations that justify the charging of fees, and the right to salary portability.

§ 3. The opening of a salary account with a legal entity as the holder is prohibited.

CHAPTER III
USE OF THE SALARY ACCOUNT

Article 3. Only values originating from the contracting entity, in compliance with the object of the contractual instrument, may be credited to the salary account, and the acceptance of credits from other sources is prohibited.

Article 4. The salary account is not subject to movement by cheque.

Article 5. The resources credited to the salary account may be:

I - withdrawn at self-service terminals, directly at the cashier's window, including at an attendance point of a correspondent in the country, or by any other means provided for in the contractual instrument signed between the institutions referred to in Article 1 and the contracting entity; and

II - used for:

a) payments using a payment instrument with a debit function;

b) settlement or amortization of installments of credit operations and financial leasing, bills, invoices, or any other documents representing debts, including via debit to account; and

c) transfers to deposit accounts or prepaid payment accounts.

CHAPTER IV
CONTRACTUAL INSTRUMENT

Article 6. The contractual instrument signed between the institutions referred to in Article 1 and the contracting entity for the provision of the payment services governed by this Resolution must contain, among others, clauses establishing:

I - the conditions and procedures for the implementation of payments to beneficiaries;

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

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

IV - the conditions of remuneration, by the contracting entity to the contracted institution.

CHAPTER V
SALARY PORTABILITY

Article 7. The institutions referred to in Article 1 must ensure salary portability, which consists of the possibility of transferring, at the request of the beneficiary, the value credited in the salary account to a deposit account or a prepaid payment account held by the beneficiary, chosen by him, at the same contracted institution or at another institution authorized to operate by the Central Bank of Brazil.

§ 1. For the purposes of the caput, the indication of the account to be credited must be the subject of specific communication by the beneficiary to the contracted institution, on a permanent instruction basis, in writing or by electronic means.

§ 2. The communication may be carried out through the destination institution, through an unequivocal manifestation of the beneficiary's will capable of being proven.

§ 3. The contracted institution must process the salary portability request within ten business days, counted from the date of its receipt.

Article 8. The transfer of resources referred to in Article 7 must cover the total value credited in the salary account, allowing for the deduction of any discounts related exclusively to installments of credit operations or financial leasing contracted by the beneficiary.

Article 9. Salary portability may be canceled at the request of the beneficiary.

Sole Paragraph. The cancellation referred to in the caput must occur from the reference month immediately following the request, provided that it was made with at least five business days' notice prior to the date of effective crediting.

CHAPTER VI
FEES

Article 10. It is prohibited to charge the beneficiary, in the form of fees or reimbursement of expenses, in the following situations:

I - reimbursement for costs related to the provision of the service to the contracting entity, including the effective crediting to the salary account;

II - request for salary portability;

III - transfer of resources to other institutions, when carried out by the beneficiary:

a) for the total value credited in the salary account; or

b) for the net value after the deduction of any discounts made in the salary account related to installments of credit operations or financial leasing contracted by the beneficiary;

IV - making up to five withdrawals per credit event;

V - provision of a payment instrument in the debit function, except in cases of replacement requests resulting from loss, theft, robbery, damage, and other reasons not attributable to the issuing institution;

VI - access, via self-service terminals or directly at the cashier's window, to two monthly balance inquiries in the salary account;

VII - provision, via self-service terminals or directly at the cashier's window, of two statements containing all movements of the salary account in the last thirty days; and

VIII - maintenance of the account, including in the case of no movement.

CHAPTER VII
FINAL PROVISIONS

Article 11. From the communication of exclusion of the beneficiary, referred to in Article 6, item III, no new credits may be admitted in the salary account then used to control the resources paid to him.

Article 12. The institutions referred to in Article 1 are responsible for observing the procedures related to the prevention of money laundering and terrorist financing, as well as observing the legislation and regulations in force.

Article 13. The provisions of this Resolution do not apply to the provision of payment services to beneficiaries of the National Institute of Social Security (INSS).

Article 14. The Central Bank of Brazil may establish, within the scope of its legal attributes, the necessary measures for the execution of the provisions of this Resolution, including operational aspects for salary portability.

Article 15. The following are repealed:

I - Article 16 of Resolution No. 4,790, of March 26, 2020;

II - Resolution No. 3,402, of September 6, 2006;

III - Resolution No. 3,424, of December 21, 2006;

IV - Resolution No. 4,639, of February 22, 2018; and

V - Resolution No. 4,684, of August 29, 2018.

Article 16. This Resolution enters into force on March 1, 2023.

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