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An independent psychologist who prefers not to reveal his identity came up with a special check with a debt of 4 thousand R $ and, because of the interest of the modality, had to pay R $ 7 thousand to the bank at [19659002]. At first he did not quite understand what the overdraft meant, but he honored the agreed amount and pressed himself financially to remove it.
Because you do not have a fixed salary, you often have to resort to a check. According to her, today has a low limit on the bank, which prevents the debt from expanding. To avoid this type of situation, Febraban (Brazilian Banking Federation) has established new rules for the overdraft, which will take effect on Sunday (1).
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One of the major changes determined by Febraban is that consumers who exceed 15% of the overdraft limit for 30 consecutive days should receive offers of financial products with lower interest rates and better down payment terms. In these cases, the overdraft amount must be greater than $ 200.
Other changes are that the bank must always notify when the person enters the overdraft, separate the balance from the limit account and open the channel for the consumer to renegotiate the debt when he wants it.
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The Chief Economist of the DMI Group Illustrates Change by a Hypothetical Case: Suppose that the consumer has a debt of $ 1,000 on the overdraft and remains without paying for a year. In this case, taking into account the rate of 312% per annum, the amount of the debt becomes R $ 4,191.
With the new change, the bank can offer this person a new financial product with a hypothetical annual interest rate of 115% In this case, the same debt of R $ 1,000 becomes R $ 2,147, with a reduction of R $ 1,972 in relation to the amount of the overdraft. "The consumer loses a lot of equity," says Xavier about the interest on the overdraft.
Xavier claims that the change in the rules announced by Febraban is an important step for the construction of the financial education of Brazilians. According to him, the change will be beneficial for both consumers, who will get better debt repayment terms, and for banks, who tend to have fewer defaultors.
– I think to offer a better product and show the benefits of the product will be very educational. This will involve the banking network.
Ideo (Brazilian Institute of Consumer Protection), economist Ione Amorim says that this offer may be a negative, since the consumer is not looking for more advantageous credit lines. According to her, "the consumer will have an offer of credit offered by the bank.This practice may lead the consumer to lose the curiosity to understand if it is the best offer.It is important to evaluate what 39; other institutions offer and other lines of credit. "
For her, consumers who need to use overdrafts for more than 30 days must begin to think of alternatives such as rates of lower interest, sources of income or borrow money from nearby people to avoid bank charges.
Ione says that new credit terms will not always get the consumer to repay the debt. "He is paying interest on interest .The following month he can not balance himself, he exposes himself again to an overdraft."
Xavier stresses that membership in the new service offered by the bank will be optional, ie it will depend on the consumer's choice. S & # 39; s believes that the overdraft is even more advantageous, it does not need to join and can receive a new offer of products with less interest rates in 30 days
Another change is the balance amount must appear separate from the overdraft limit. . Ione states that it is a significant change. "Many people do not only see what they are facing, it sees the balance that is the limit plus the balance, which is a factor that induces error."
Ione says that "many consumers are unaware of the impact of this availability on interest rates." [19659002NewFebrabanrulesarepartiedbytheystemofbancecompressionreglectthatistherulesdefinedbythepollectoritselfThisperceptionThisrefersthat"thepreventivewitnessbutthereforemustnotbeexecuted";isdirecen'estpasunenormedelaBanquecentralec'estuneautorégulation"
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