Brazil's Banco Central do Brasil published Resolution BCB No. 518 and the complementary CMN Resolution No. 5,261 on 3 November 2025, introducing a regulatory requirement for financial institutions to close pooled payment or deposit accounts — known in Brazil as 'contas bolsão' — when the account holder has provided seriously irregular information or is using the account to provide financial or payment services without legal basis or in breach of CMN and BCB rules. The measures take effect on 1 December 2025.
The BCB announced the measures on 3 November alongside new minimum capital rules, as part of a tightening of rules aimed at curbing the use of the financial system by organised crime.
GROUNDS FOR MANDATORY ACCOUNT CLOSURE
Under the new rules, financial institutions must close a pooled account when one of two conditions is met: first, when the account holder has provided seriously incorrect information to the institution; or second, when the account holder is providing financial or payment services without proper BCB authorisation or in a manner that does not comply with applicable CMN and BCB regulations.
Institutions must set their own documented, board-approved criteria to identify such accounts, using public or private databases, and keep the related documentation for at least ten years. Financial institutions that fail to take the required actions face BCB sanctions.
SCOPE OF THE RULES
Contas bolsão can allow entities that are not licensed to hold customer funds or operate payment services to effectively perform those functions by routing transactions through accounts held at licensed institutions.
The closure requirements apply to both payment accounts (BCB 518) and deposit accounts (CMN 5,261).
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn