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Banks and the government are discussing setting a maximum value for withdrawals, purchases and cash payments. The limit should be around R $ 10,000 per transaction. The measure fits into a strategy of financial institutions and public authorities to fight against money laundering
The participants in the discussions explained that a limit of about 10,000 R $ would cover 99% of operations in the country. In addition, those transferring amounts greater than this amount may make wire transfers or card or check payments.
There is currently no value limit for withdrawals in Brazil. Cash withdrawals from financial institutions must be disclosed in advance when the amount is equal to or greater than R $ 50,000 and the funds are released after three business days. For withdrawals from R $ 5,000, banks may request one business day to deliver the money back to the customer. Federal taxes and banknotes can only be paid in cash if the amount is less than R $ 10,000.
This theme is reviewed at the Ministry of Justice through a working group of the National Strategy to Combat Corruption and Destruction of Money (Enccla). The trend is that this proposal be forwarded to Congress next year through a bill.
Preliminary studies have shown that the problem can not be solved by resolutions of the Central Bank (BC) or the National Monetary Council. (CMN).
The participants in the discussions say that this decision has already been taken in other countries. In France, Italy and Portugal, purchases in kind and withdrawals are limited to one thousand euros per transaction. In Spain, the limit is 2,500 euros. In Belgium, the limit is set at 3,000 euros.
Attempted attempt, Febraban (Brazilian Banking Federation) said he did not comment on this.
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