The Credit Guarantee Fund (FGC) announced this Saturday (17) the start of the payment to Banco Master customers who have financial investments at the institution, settled by the Central Bank in November last year, after the discovery of fraud and difficulty in honoring commitments. The FGC is a private entity formed by contributions from financial institutions to cover possible losses.
Coverage follows the limit of R$250 thousand per CPF or CNPJ, per financial conglomerate. The value includes the amount invested and the income accumulated until the settlement date. The reimbursement covers current accounts, savings and other investments such as CDBs, RDBs, LCIs, LCAs, LCDs and other financial products.
A functionality in the cell phone application was made available for individual creditors of Banco Master, Master de Investimento and Letsbank to complete the guarantee request. Creditor legal entities must complete the request in website of the FGC, informed the entity. Once this request stage has been completed and the subrogation term signed, the FGC will process the payment within two business days.
The consolidation and checking of the list with the information of creditors who are entitled to request payment of guarantee were carried out by the Central Bank. Around 800 thousand customers must be reimbursed, in amounts reaching R$40.6 billion. This is a lower number than initially predicted, when it was estimated that 1.6 million investors would be harmed by the Master’s failure.
In a statement, the FGC warns that it does not authorize or accredit any type of institution or company to mediate negotiations to receive the guaranteed amount, much less requesting the payment of any fee or the prior deposit of amounts. Additionally, no contact is made via WhatsApp or SMS.
