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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 / Shutterstock.com
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 / Shutterstock.com
