Brazil : R$ 8 Billion Forgotten In Brazilian Bank Accounts; Central Bank Announces Pathways For Reclaim

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The Central Bank (BC) has disclosed that a staggering sum of R$ 7.97 billion is currently accessible within the Receivable Values System (SVR), as of the latest update on Thursday, the 7th. These funds pertain to transactions dated in January of the ongoing year.

This revelation brings to light the existence of approximately R$ 7.4 billion in unclaimed funds scattered across various financial entities such as banks and consortia, as affirmed by the Central Bank. Remarkably, the monetary authority disclosed that over R$ 4.8 billion has already been reclaimed by individuals and legal entities, marking a significant step towards financial restitution.

Recent updates from the Receivable Values System (SVR), published last Friday, the 6th, unveil the entitlement of more than 29.4 million beneficiaries to redeem amounts ranging from R$ 0 to R$ 10. Additionally, 11.7 million individuals have the opportunity to claim funds up to R$ 100.

Further analysis reveals that 4.7 million beneficiaries have unclaimed amounts up to R$ 1,000, while 821 thousand individuals are eligible to receive sums exceeding R$ 1,000.

Breaking down the available funds for redemption, a total of R$ 7,411,753,283.94 is allocated as follows:

  • R$ 5.8 billion corresponds to 37.1 million individuals
  • R$ 1.5 billion corresponds to 2.8 million legal entities

On the redemption front, out of the R$ 4,868,383,857.77 already reclaimed:

  • R$ 3.6 billion were recovered by 14.4 million individuals
  • R$ 1.2 billion were reclaimed by 571 thousand legal entities

The Central Bank has provided a structured process for individuals to claim their rightful funds:

Step-by-step Guide to Claim Your Funds:

  1. Check Eligibility: Determine if you are entitled to unclaimed funds by visiting the Central Bank’s public consultation page at https://valoresareceber.bcb.gov.br/publico. Provide your date of birth for CPF or the company’s registration date for CNPJ.
  2. Access the SVR: Upon confirmation of eligibility, access the Receivable Values System (SVR) using your gov.br account credentials, which must be at the silver or gold level. If you do not have a gov.br account, it can be created for free via https://sso.acesso.gov.br or the gov.br application available for iOS and Android.
  3. Review Available Funds: Navigate to the ‘My Values to Receive’ section within the SVR to review available funds and associated institutions.
  4. Initiate Redemption: Adjacent to the available redemption amount, locate the ‘Request Here’ button. Fill in your Pix key, email, and phone number on the subsequent page. After verifying the accuracy of provided information, submit the redemption request.
    • Note: If the ‘Request Here’ button is not visible, the respective financial institution may not have entered into an agreement with the Central Bank regarding the SVR. In such cases, direct contact with the institution is necessary to arrange the redemption process, with no obligation for the funds to be returned within 12 business days.
  5. Track Redemption Request: Following submission, the system will display a confirmation screen with the request protocol. It is advised to record this information. The institution is responsible for the fund’s return within 12 business days.

During this process, the SVR emphasizes the potential discrepancy between the informed and actual redemption amounts due to monetary updates or legal provisions. Additionally, institutions may contact individuals to verify identity and resolve queries.

By following this systematic approach, individuals can seamlessly reclaim their unclaimed funds, contributing to financial transparency and restitution.

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