Taking the salary account to other institutions has become simpler.

A new National Monetary Council (NMC) rule that kicked off yesterday allows workers to transfer payroll payments not only to other bank accounts, but also to financial startups, or fintechs, and other accounts non-bank companies. For specialists, the measure approved in February opens a range of services, tariffs and companies available to the employee, since the salary account contains a series of restrictions.

This type of account does not have any fees, it is in the bank chosen by the boss and only he can make deposits. Plus, there are service limits, hours, checks and you can not shop online. Before the new rule, in order to avoid these obstacles when it comes to managing your own money, the worker should go to the bank chosen by the boss to transfer the payment to a current account. , also managed by a bank and paid. he can also take his salary at no cost on prepaid payment accounts operated by non-financial institutions such as fintechs, payment institutions and credit card issuers. All that is needed is for the money to fall into this account so that the employee can pay his bills, withdraw without time limit, make purchases, obtain credits and make investments.

As they are still consolidating on the market, these companies, like Nubank,

The obstacle of fintechs in the conquest of customers lies in the construction of the degree of relationship and credibility of banks, which have existed since centuries on the market. Claudio Felisoni, coordinator of the Labfin FIA (Foundation Institute of Administration). In addition to giving the employee more options, the other benefit of the new British Columbia standard is that the change can be made without it being necessary to contact them. the bank that hosts it.

the salary account. Institutions talk to each other According to Renata Pedro, Proteste's lawyer, portability in the destination institution, as in the case of the exchange of mobile operators, protects the consumer against the "manager's story" and against the promises made to not lose the client [19659002] But the benefits of the new British Columbia rule can also be accompanied by some pitfalls, says the lawyer. Among them are the sale of married products and the offer of a basket of products that does not match the customer profile. It is also necessary to be aware of lower rates that are only valid for the first few months and then become more expensive.

In Felisoni's badessment, this migration will not happen overnight, but will generate a conflict between spraying the financial sector in the country, still concentrated in five major banks. "I do not think they're going to make things difficult on an operational level, but they're not going to give up these accounts peacefully and they should be competing," he says.