Santander opens the safe and will pay money to customers for 12 months

The reimbursement, amounting to just over R$79 billion, is part of a public agreement between Santander and the Central Bank. Know more.

Image: Manuel Esteban /

Estimated reading time: 3 minutes

Banco Santander will have to pay up to R$79.2 million to approximately 700 thousand customers, including companies. The amounts that will be returned refer to the breach of rules in operations of overdraft and credit card installments, in addition to undue charges for the use of Pix.

The financial institution broke the rules between January 2014 and February this year. The Central Bank, through a public agreement with Santander, established the reimbursement on May 3, but the information was only released last month.

In addition to the BRL 79 million that will be given to customers, Santander will also have to pay up to BRL 8 million for the pecuniary contribution, which is a kind of fine to fix the disapproved conduct.

Santander: customers will receive amounts within 12 months

The undue charges made in disagreement with the contracts affected up to 378 thousand customers, who should receive around R$ 18 million. The amount will be distributed in up to 12 months, from the date of signature of the agreement with the BC.

Another part of the amount, R$ 17.6 million, will be used to reimburse 268 thousand customers who received inappropriate charges for using Pix. Under current law, individual microentrepreneurs (MEIs) and individuals cannot pay for this type of operation.

The largest amount that Santander will have to disburse is R$ 43.15 million

The largest amount that Santander will have to disburse is R$ 43.15 million, which will be used to repair the interest rate charged on the overdraft, which exceeded the limit set by the BC.

Between January 2020 and February this year, 50,000 customers carried out operations related to overdraft. Returns will be corrected according to the Broad National Consumer Price Index (IPCA).

In addition, if Santander does not comply with the agreement, an extra cash contribution with the remaining amount will have to be paid.

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Image: Manuel Esteban /

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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