RESOLUTION CMN NO. 5,071, OF APRIL 26, 2023

Regulates
the check, the consequences of its improper use, and the conditions for its provision to the customer by financial institutions.

The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595, of December 31, 1964, makes it public that the National Monetary Council, in a session held on April 20, 2023, based on Articles 4, item VIII, of Law No. 4,595, of December 31, 1964, 17 of Law No. 5,143, of October 20, 1966, 69 of Law No. 7,357, of September 2, 1985, and 69, sole paragraph, of Law No. 9,069, of June 29, 1995,

RESOLVES:

CHAPTER I

ON THE OBJECT AND SCOPE OF APPLICATION

Art. 1. This Resolution regulates the check, the consequences of its improper use, and the conditions for its provision to the customer by financial institutions that maintain checking accounts withdrawable by check.

CHAPTER II

ON THE FORM OF THE CHECK

Section I

On the Standard Model

Art. 2. Financial institutions that maintain checking accounts withdrawable by check shall agree among themselves on a standard model of the check, which must have the following information printed on the front, in addition to the elements set forth in Article 1 of Law No. 7,357, of September 2, 1985:

I - the name of the holder of the checking account and their respective registration number in the Individual Taxpayer Registry (CPF) or in the National Registry of Legal Entities (CNPJ);

II - the number, the issuing body, and the acronym of the Federative Unit regarding the document used to identify the holder of the checking account, in the case of natural persons;

III - the expression "Banking client since", followed by the date of commencement of the relationship between the holder of the checking account and financial institutions, as established in Article 30;

IV - the date of manufacture of the check sheet, in the format "Manufacture: month/year";

V - the indication of the amount to be paid, in figures and in words; and

VI - the bank code in the clearing service, the branch code, the issuer's deposit account number, and the check number.

§ 1º With regard to the provisions of items I to III of the main text, it must be observed that:

I - in the case of an account owned by a minor or an incapacitated person, at least the identification data of the person who represents or assists them must appear; and

II - in the case of a joint account, at least the identification data of two holders must appear, interspersed with the terms "and" or "or", according to the contractual terms, and the indication of the eventual existence of other holders through the use of the terms "and others" or "or others".

§ 2º The expression "payable at any branch" and other operational elements agreed upon by financial institutions that maintain checking accounts withdrawable by check may be included in the standard check model.

§ 3º With regard to the provision of item I of the main text, the civil name may, at the discretion of the holder of the checking account, be replaced on the check sheets by the social name, if registered in a legally valid identity document.

§ 4º The convention referred to in the main text may be negotiated through representative associations, at the national level, for adherence and observance by all financial institutions that maintain checking accounts withdrawable by check.

§ 5º Until the entry into force of the convention referred to in the main text, the standard check model will continue to be governed according to the determinations of Resolution No. 885, of December 22, 1983.

§ 6º The content of the convention referred to in the main text, as well as any future adjustments resulting therefrom, must be communicated to the Central Bank of Brazil thirty days in advance of its implementation.

§ 7º The act approving the convention referred to in the main text, as well as subsequent alterations to its content, must contain the initial term for the mandatory compliance with its provisions, observing the deadline provided for in § 6º for prior communication to the Central Bank of Brazil.

Art. 3. In the issuance of checks, the writing out in full of the value corresponding to cents is dispensed with, provided that:

I - the total value is specified, in figures, in the appropriate field of the check sheet; or

II - the expression "and cents above" appears on the check sheet, written by the issuer or printed at the end of the space intended for the writing out in full of its value.

Sole paragraph. The existence of the expression referred to in the main text, item II, printed on the check sheet, does not prevent the indication of its total value in words, at the discretion of the issuer, for the purposes of applicable law.

Art. 4. Checks provided by credit cooperatives to holders of checking accounts must clearly indicate the responsibility of the drawee cooperative, in accordance with this Resolution and related regulation.

Section II

On Signature by Mechanical Chancela

Art. 5. The signature of the issuer, the endorser, or their attorneys-in-fact with special powers may consist of a mechanical chancela or an equivalent process.

§ 1º The signature by mechanical chancela consists of the exact reproduction of the handwritten signature, safeguarded by technical characteristics, obtained by machines especially destined for this purpose, through a compression process.

§ 2º The use of mechanical chancela on checks must be preceded by an agreement between the issuer or endorser and the drawee financial institution, in which it must:

I - provide for security rules;

II - limit the use of the chancela to checks provided by the financial institution itself, when it concerns issuance, or by another financial institution, when it concerns endorsement; and

III - admit a clause that regulates the contracting of insurance for the applicable risks.

§ 3º It is an indispensable requirement for the use of the signature by mechanical chancela its prior registration in a notary office of the domicile of the user of the mechanical chancela signature.

§ 4º Financial institutions may use mechanical chancela on checks of their own issuance and against their own cash (administrative checks) and in the issuance of "traveler's checks".

CHAPTER III

ON THE USE OF CHECKS

Section I

On Reasons for Return of the Check

Art. 6. Financial institutions cannot pay, through compensation or financial settlement, a bearer check with a value greater than R$100.00 (one hundred reais).

Sole paragraph. The use of the expression "to the issuer" to identify the beneficiary of a bearer check with a value greater than R$100.00 (one hundred reais) is permitted, provided that:

I - the issuer and the beneficiary are the same person; and

II - the beneficiary endorses the check to the drawee financial institution, as discharge.

Art. 7. Financial institutions and other entities authorized to operate by the Central Bank of Brazil cannot receive, as payment, a check with a value greater than R$100.00 (one hundred reais), without identification of the beneficiary.

Art. 8. Financial institutions, when refusing payment of a check, must declare on the stub the reason for return and the date of presentation.

§ 1º The Central Bank of Brazil may establish the reasons for return referred to in the main text.

§ 2º The Check Clearing Center (Compe) may detail or create reasons for check return that refer to operational aspects, provided they are widely disseminated by the chamber and participating institutions to their clients.

Section II

On Stopping and Revocation

Art. 9. Financial institutions must require, for the effective stopping or revocation of a check, a formalized request by the interested party, with no judgment allowed on the merit or relevance of the reason presented, as provided in Articles 35 and 36 of Law No. 7,357, of 1985.

§ 1º For the formalization required in the main text, the use of transaction or electronic communication, via password or any procedure capable of producing proof for legal purposes, is also admitted.

§ 2º Requests for stopping or revocation on a provisional basis must be accepted, by any means of communication, provided that the request must be confirmed until the closing of public business hours on the second business day following the registration of the request, excluding the day of communication itself, otherwise being considered non-existent by the financial institution.

§ 3º Checks returned for specific reasons related to stopping or revocation resulting from theft, robbery, or loss cannot be subject to cancellation of the respective stopping or revocation.

§ 4º Provisional stopping cannot be renewed or repeated regarding the same check.

Section III

On the Consequences of Improper Use of the Check

Subsection I

On the Registry of Issuers of Bounced Checks (CCF)

Art. 10. Drawee financial institutions are responsible for including in the registry of issuers of bounced checks (CCF) occurrences relating to the issuer who:

I - has the same check returned on two different dates due to lack of funds;

II - issues a check referring to a closed deposit account; and

III - engages in spurious practice.

§ 1º Spurious practice is considered when:

I - more than three bounced checks with a value up to R$3.41 (three reais and forty-one cents) are presented, on the same day, referring to the same deposit account; or

II - payments are made, on different dates, due to the "prompt acceptance commitment" referred to in Article 32, of three or more bounced checks with a value up to R$3.41 (three reais and forty-one cents) each.

§ 2º Drawee credit cooperatives are responsible for including their members in the registry of issuers of bounced checks, regardless of any interbank check clearing agreement signed with another financial institution.

§ 3º A bounced check and a check referring to a closed checking account can only generate a record of occurrence in the registry of issuers of bounced checks if the return for any other reason is not applicable.

§ 4º The deadline for inclusion of an occurrence in the registry of issuers of bounced checks is fifteen days, counted from the date of return of the check.

§ 5º The drawee financial institution must make available to the issuer, for the period during which the occurrence appears in the registry of issuers of bounced checks, a copy of the check that originated the occurrence, for the purpose of proving the documentation to be presented for the respective exclusion.

Art. 11. The registry of issuers of bounced checks will contain the following data:

I - name of the issuer of the bounced check;

II - registration number in the CPF or CNPJ of the holder/issuer of the bounced check;

III - bank code and branch that commanded the inclusion;

IV - date of inclusion and exclusion of the occurrence; and

V - quantity of occurrences included in the registry of issuers of bounced checks, per issuer, bank, and branch.

Art. 12. The inclusion of an occurrence in the registry of issuers of bounced checks relative to a check issued by a holder of a joint account must be restricted to the issuer of the check.

Art. 13. The drawee financial institution must communicate in writing to the issuer the inclusion of their name in the registry of issuers of bounced checks.

§ 1º For the sending of the communication referred to in the main text of this article, electronic channels provided by the client to the drawee financial institution may be used.

§ 2º The communication referred to in the main text of this article must precede the inscription in the registry of issuers of bounced checks and clearly and objectively inform the available channels for canceling the record in the database.

Art. 14. Occurrences will be excluded from the registry of issuers of bounced checks:

I - automatically, after five years have elapsed from the inclusion of the bounced check;

II - at the request of the drawee institution, or on the initiative of the operator of the clearing service itself, if the inclusion was commanded by proven error, in which case the institution, as soon as it becomes aware of the fact, must command the exclusion, without charge to the client;

III - at any time, at the request of the drawee establishment, provided that the client proves the payment that originated the occurrence; or

IV - by determination of the Central Bank of Brazil.

Sole paragraph. If the request for exclusion of an occurrence from the registry of issuers of bounced checks is denied, the drawee financial institution must formally communicate the decision to the client.

Art. 15. Proof of payment of checks is admitted, to instruct a request for exclusion of registration in the registry of issuers of bounced checks:

I - the check that originated the occurrence;

II - the account statement showing the debit related to the check that originated the occurrence; and

III - the declaration of the beneficiary giving discharge of the debt, with signature duly recognized in a notary office or confirmed by the endorsing bank, accompanied by a copy of the check that originated the occurrence, as well as the negative certificates from protest offices relative to the check, in the name of the issuer, in the impossibility of presenting the documents cited in items I and II.

§ 1º The drawee financial institution must examine and command the operator of the check clearing service, within a maximum period of five business days, counted from the date of delivery of the client's request, the exclusion of the name of the issuer who proves payment of the check that originated the occurrence.

§ 2º The documentation accepted by the drawee financial institution as proof of payment of the checks must be archived for a period of five years.

Art. 16. The operator of the check clearing service must exercise the functions of operator and manager of the registry of issuers of bounced checks.

Subsection II

On Fees for Improper Use of the Check

Art. 17. The improper inclusion of an occurrence in the registry of issuers of bounced checks, as well as the consequent exclusion, cannot generate the charging of any expenses or fees from the issuer.

Art. 18. The manager of the registry of issuers of bounced checks will charge drawee financial institutions a service fee in the amount of R$6.82 (six reais and eighty-two cents), per inclusion of a bounced check in the registry of issuers of bounced checks.

§ 1º The drawee financial institution may require reimbursement from the issuer of the value paid as a service fee for the registry of issuers of bounced checks, upon:

I - exclusion, when it concerns an occurrence included during the validity of the "prompt acceptance commitment"; or

II - inclusion, in other cases.

§ 2º The revocation of the "prompt acceptance commitment" referred to in Article 32 allows the drawee financial institution to demand immediate reimbursement from the issuer of the value not collected due to item I of § 1º.

Art. 19. The manager of the registry of issuers of bounced checks will provide free access to the database to financial institutions that maintain checking accounts withdrawable by check.

Art. 20. The manager of the registry of issuers of bounced checks may sign agreements with financial institutions and private credit protection entities, for the provision of information contained in the database, at prices and operational conditions agreed upon by them.

Art. 21. The service fee referred to in Article 18 will revert in favor of the Credit Guarantee Fund (FGC), intended to protect holders of credits specified in its statute, against multiple banks, commercial banks, investment banks, development banks, Caixa Econômica Federal, credit, financing, and investment companies, real estate credit companies, mortgage companies, and savings and loan associations.

Sole paragraph. The values corresponding to the service fee referred to in Article 18 collected directly or indirectly by single credit cooperatives and cooperative banks will be directed to the credit guarantee fund of credit cooperatives.

Art. 22. No value may be charged to an interested party whose name appears in the registry of issuers of bounced checks for consultation or update of information in the database, except when the hypothesis provided for in item III of Article 14 is configured.

CHAPTER IV

ON THE PROVISION OF CHECKS

Art. 23. Financial institutions maintaining checking accounts must specify the discipline adopted for the use of the check by account holders, establishing objective and transparent criteria, of an operational nature, for the provision of check sheets, which contemplate the legal and regulatory provisions on the matter.

§ 1º The rules for the provision of check sheets to the holder of the checking account must be established based, among others, on the following criteria:

I - sufficient balance for the payment of checks;

II - credit restrictions;

III - history of practices and occurrences in the use of checks;

IV - stock of check sheets in the possession of the account holder;

V - registration in the registry of issuers of bounced checks; and

VI - regularity of the data and identification documents of the account holder.

§ 2º Financial institutions must orient account holders on:

I - the discipline established for the use of the check;

II - practices incompatible with the adopted discipline, as well as with the legal and regulatory provisions on the matter;

III - practices that may characterize abuse of the right to impede the normal course of checks; and

IV - legal and regulatory penalties and applicable measures, in case of non-compliance with the regulation and discipline established.

§ 3º With a view to adopting the procedures referred to in this article, the financial institution must:

I - adapt its control and monitoring systems for checking accounts, aiming to monitor behavior incompatible with the established discipline; and

II - adopt, in cases considered incompatible with the established discipline, the following measures:

a) orientation;

b) formal notification;

c) suspension of the provision of check sheets; or

d) closure of the account.

Art. 24. Financial institutions must include in the contracts for opening and maintenance of checking accounts withdrawable by check, among others, clauses providing for:

I - operational rules for the provision of check sheets;

II - the possibility of non-provision or interruption of the provision of check sheets; and

III - legal and regulatory penalties and measures referred to in Article 23.

Art. 25. Contracts for opening and maintenance of checking accounts withdrawable by check cannot contain clauses that prevent or establish unreasonable procedures for the stopping or revocation of a check.

Art. 26. The provision of check sheets is prohibited while the holder of the checking account withdrawable by check appears in the registry of issuers of bounced checks.

Art. 27. Drawee financial institutions must keep updated signatures of the holders of checking accounts withdrawable by check.

Art. 28. The drawee financial institution is obliged to provide, upon written request by the interested party, the information specified below, according to the indicated cases:

I - full name and residential and commercial addresses of the issuer, in the case of a check returned for:

a) insufficient funds;

b) reasons that warrant recording of an occurrence in the registry of issuers of bounced checks;

c) stopping or revocation duly confirmed, not motivated by theft, robbery, or loss;

d) discrepancy, insufficiency, or absence of signature; or

e) formal filling error;

II - in addition to the information established in item I:

a) copy of the formal request for stopping or revocation, or printed reproduction of the respective terms, in the event that it was requested and confirmed via electronic transaction, containing the reason alleged by the issuer or beneficiary, in the case of a check returned for stopping or revocation not motivated by theft, robbery, or loss; and

b) full name, residential and commercial addresses, identity document number, and CPF registration number of the issuer, in the case of a check returned for any of the cases included in item I, issued by a holder of a joint account whose identification data do not appear on the check; and

III - declaration on the authenticity or not of the issuer's signature, through an examination equivalent to that which would be carried out in a check payment procedure presented to the teller, in the case of a check returned for stopping or revocation motivated by theft, robbery, or loss of a blank check sheet.

§ 1º The information referred to in this article must be provided on letterhead document of the financial institution, signed by its representative.

§ 2º Interested party is considered the named beneficiary, the legitimate bearer, the endorser, the endeessee, the guarantor, or any person who demonstrates integrating, in any way, the bill relation.

Art. 29. The drawee financial institution must provide, at the request of the issuer of a check included in the registry of issuers of bounced checks, upon presentation of a copy of the check, the full name and residential and commercial addresses of the depositing beneficiary.

Sole paragraph. The provision of the data referred to in the main text must be authorized by the depositing beneficiary.

Art. 30. The date of commencement of the relationship of the holder of the checking account with financial institutions printed on the check sheet, pursuant to item III of the main text of Article 2, must indicate the date of the oldest checking account contract or savings deposit contract in which the client appears as holder or as one of the holders, in the depository financial institution itself or in another institution of the same conglomerate, as well as in any other financial institution.

§ 1º In the case of joint deposit accounts, the date of the oldest checking account or savings contract in which the applicant appears as one of the holders must be considered.

§ 2º For the purpose of indicating the date of commencement of the contractual relationship of the account holder with financial institutions, the following cannot be considered:

I - judicial deposits of any nature and accounts opened by judicial order;

II - checking accounts or savings deposits closed for more than five years, counted from the date of formalization of the request by the client.

§ 3º The inclusion of the relationship start date referred to in the main text depends on a request by the holder of the checking account to the financial institution holding the relevant credit information.

§ 4º The inclusion of the relationship start date referred to in the main text must be attended to by the financial institution in which the client maintains or intends to maintain a checking account withdrawable by check within a maximum period of thirty days, counted:

I - from the date of formalization of the request, if the oldest contract in which the depositor appears as holder or as one of the holders was signed at the depository financial institution itself or at another institution within the same financial conglomerate; or

II - from the date of receipt of the client's registration information, if the oldest contract in which the depositor appears as holder or as one of the holders was signed with an institution not part of the financial conglomerate of the depository institution.

§ 5º The registration information necessary to demonstrate the date of the beginning of the contractual relationship must be shown to the client by the originating financial institution within a maximum period of ten business days, counted from the date of formalization of the respective request.

§ 6º With the express authorization of the client, the registration information necessary to demonstrate the date of the beginning of the contractual relationship must be presented directly by the institution holding the information to the financial institution at which the client maintains or intends to maintain a checking account movable by check, within a maximum period of five business days.

§ 7º The financial institutions receiving the registration information must provide them to their clients, when requested by them, within a maximum period of five business days, counted from the date of receipt of the respective request, except in the case of information for which there is a legal or regulatory impediment to do so.

§ 8º Financial institutions must establish the necessary means for the transmission and reception of the information referred to in this article, as well as the criteria required for the elimination of risks related to the security of the process, allowing the use of electronic means for this purpose.

Art. 31. Financial institutions maintaining checking accounts must make available to interested parties information regarding the following occurrences related to a specific check:

I - stopped or revoked check;

II - check subject to provisional stoppage or revocation not expired and not yet confirmed;

III - check sent to the account holder's residence whose unlocking has not been performed;

IV - check cancelled by the drawee financial institution;

V - check related to a checking account subject to total judicial block;

VI - check stolen, robbed, lost, or destroyed during the clearing process;

VII - check related to a checking account maintained in a credit cooperative whose contract with the financial institution providing the clearing service has been terminated, an occurrence to be registered by the credit cooperative; and

VIII - check related to a closed checking account.

§ 1º The consultation to the information referred to in the caput must refer to a specific check and be available to the interested party, with updates within one business day after the communication or detection of the occurrence.

§ 2º Interested party is considered the issuer, the named beneficiary, the legitimate bearer, the endorser, the endorsee, the guarantor, or any person who demonstrates to integrate, in any way, the bill of exchange relationship.

CHAPTER V

GENERAL PROVISIONS

Art. 32. Financial institutions may assume with the holders of checking accounts movable by check a "commitment of prompt acceptance", revocable at any time, by which they commit not to return checks with a value up to R$3.41 (three reais and forty-one cents) due to lack of funds.

Art. 33. Credit cooperatives that offer their members interbank check clearing service are, regardless of the agreement made with third parties, responsible for compliance with the legislation and regulations in force regarding the treatment given to checks in liquidation, liquidated, or subject to occurrences that prevent their normal course, among others regarding the posting of return reasons, the inclusion and exclusion of occurrences in the register of issuers of checks without funds, the stoppage and revocation of checks, the cancellation of blank check sheets stolen, robbed, or lost, and the provision of information to beneficiaries of returned checks.

Art. 34. The provision of home delivery service of check sheets in favor of holders of checking accounts is permitted, through courier or messenger companies, or through the financial institution's own service, subject to formal authorization by the holder of the checking account movable by check.

§ 1º In the case of a joint checking account, the service can only be provided with the authorization of all account holders.

§ 2º The financial institution must make available the information, in accordance with Art. 31, regarding check sheets transferred to the delivery service and not yet unlocked by the depositor.

§ 3º Check sheets are considered unlocked by the depositor when:

I - there is formal communication by signature, admitting the use of transaction or electronic communication, by password or any procedure capable of producing proof for legal purposes; or

II - a check issued on a still blocked sheet, with authentic signature, is presented to the drawee bank for payment.

Art. 35. Financial institutions may require their clients to reimburse the amount paid as compensation for operational costs to Compe, subject to the restrictions established in this Resolution.

CHAPTER VI

FINAL PROVISIONS

Art. 36. The Central Bank of Brazil will adopt, within the scope of its legal powers, the necessary measures for the execution of the provisions of this Resolution.

Art. 37. The following are repealed:

I - Resolution No. 885, of 1983, except for the effects described in § 5º of Art. 2º of this Resolution;

II - Resolution No. 1,631, of August 24, 1989;

III - Resolution No. 1,682, of January 31, 1990;

IV - Resolution No. 2,090, of July 6, 1994;

V - Resolution No. 3,279, of April 29, 2005;

VI - Resolution No. 3,972, of April 28, 2011;

VII - Art. 4º of Resolution No. 4,150, of October 30, 2012; and

VIII - Art. 11 of Resolution No. 4,753, of September 26, 2019.

Art. 38. This Resolution enters into force on October 2, 2023.

Roberto de Oliveira Campos Neto

President of the Central Bank of Brazil