On May 26, 2025, BRZ CB issued Resolution 5,218 amending Resolution 4,753 rules.
Amends art 2-A stating entities in art 1, in process of opening accounts, updating account holder data, as referred to in art 2, §4, must consult system mentioned in Res 475/2025 prior to opening checking, savings accounts, changing account holders.
If institution decides to open deposit account or change holders/representatives, when there is request to contrary registered in cited system, decision must be documented and substantiated, and is only applicable in exceptional situations.
I.e. when holders, prospective holders or representatives are prevented from deleting request from system; if entity decides not to open deposit account or not to change account holders/representatives, solely due to request referred to, reasons for decision must be explained to account holder, prospective account holder or representative.
Decision to open account, change account holders or representatives is responsibility of the institution; entities must keep for at least 10 years supporting documentation re consultation of system, including result, documentation in §1 (at BRZ CB disposal).
BRZ CB reported that Resolution 5,218 shall come into force on Dec. 1, 2025.
In May 2025, BRZ CB announced new services for citizens, Resolution 475, #256136.
On Feb. 17, BRZ CB amends deposit account operations rules.
BRZ CB issued Resolution 4.983 to amend resolution no. 4.753, of Sep. 26, 2019, which provides for the opening, maintenance and closing of deposit accounts.
Streamlined Account Opening
Resolution 4.753 of 2019 became effective on Jan. 1, 2020 and repealed the rules requiring banks to obtain documents and physical vouchers to open an account.
Payment Now banks allowed to determine, according to their own business policies and profile of each customer, the documents the customer will need to submit to open.
Gave banks more flexibility; expands user authentication factors and operations, such as geo-referencing and querying data in other public or private information databases.
Must have procedures and controls to verify and validate identity of account holders. Also, the identity of account holders' representatives, and authenticity of information.
Verification includes checking information against data in public or private databases.
Considers the evolution of methods of customer identification and verification (biometrics, geolocation, comparison of information in public and private databases).
Financial institutions now have discretion to define information/documents necessary for account opening, as long as comply with anti-money laundering and terrorism law.
However, opening, closing deposit accounts by telephone is prohibited
Amendments to Resolution 4.753
Institutions must provide or make available to account holders a copy of the contract through any available service channel, including through electronic means.
Institutions, prior to contracting, must provide the account holder, by physical or electronic means, with prospectus of essential information, explaining minimum items.
At a minimum, information related to the basic rules for the operation of the account, and the existing risks and security measures for the purpose of moving the account.
Including information, rules in event of loss, theft or theft of the holder's credentials.
Institutions can't postpone cash withdrawals from demand deposit accounts of R$5k or less with the postponement of withdrawals in an amount greater than that established.
Revokes resolution 3,695 of 2009; and sole paragraph of art. 4 of resolution 4,753.
Effectiveness
Resolution 4,983 enters into force on March 1, 2022.
May 2025 BRZ CB Amendments
On May 26, 2025, BRZ CB issued Resolution 5,218 amending Resolution 4,753 rules.
Amends art 2-A stating entities in art 1, in process of opening accounts, updating account holder data, as referred to in art 2, §4, must consult system mentioned in Res 475/2025 prior to opening checking, savings accounts, changing account holders.
If institution decides to open deposit account or change holders/representatives, when there is request to contrary registered in cited system, decision must be documented and substantiated, and is only applicable in exceptional situations.
I.e. when holders, prospective holders or representatives are prevented from deleting request from system; if entity decides not to open deposit account or not to change account holders/representatives, solely due to request referred to, reasons for decision must be explained to account holder, prospective account holder or representative.
Decision to open account, change account holders or representatives is responsibility of the institution; entities must keep for at least 10 years supporting documentation re consultation of system, including result, documentation in §1 (at BRZ CB disposal).
BRZ CB reported that Resolution 5,218 shall come into force on Dec. 1, 2025.
In May 2025, BRZ CB announced new services for citizens, Resolution 475, #256136.
Regulators
BRZ CB
Entity Types
Bank; CNSM
Reference
Res 5.218, Res 475, 5/26/2025; Res 4.983, 2/17/2022; Res 4.753, 9/26/2019; Rpl Res 3.695, 3/26/2009;
