Opening an account at a fintech is pretty easy: just download an app, fill in a registration and upload a photo of a document. Only, apparently, the same facility applies to closure by the company. This is what happened with C6, Iti Itaú and PagBank clients. They also struggled to get the money back.
This story came to us from Techblog by an email from the reader Gislaine. She says that her Iti Itaú account was closed. The emergency aid money was in that account, and the consumer was having trouble getting the amount back.
She reports that, on the company’s Facebook page, more people said they had gone through similar situations. This is the case of the client Elilda.
Customer money returned to the transferor
In conversation with the Techblog, Elilda claims to have received a notification from Iti that her Pix key had been deleted. She was surprised, as she hadn’t done anything to erase her key.
When trying to access her account, Elilda was unable to — she had been deleted.
After a month of trying to recover the money, Iti informed Elilda that the amounts had been returned to the original accounts. The client then had to look for the people who had made transfers to her and charge them again. Luckily they were all familiar, so she got her money back.
Elilda says that the reason for the closure alleged by the bank was “commercial lack of interest”, without further details. The client does not understand why this happened, as she used the account, paid slips, made transfers and received Pix.
Iti is not the only one: there are cases at PagBank and C6 Bank
There are more cases similar to those of Elilda and Gislaine on Reclame Aqui and on Twitter. On the websites, we find complaints against several financial institutions, but in the episodes involving Iti, C6 Bank and PagBank (from PagSeguro), the return of amounts seems more difficult.
In one, a PagBank customer said that his account had been closed for more than 90 days and his money had not yet been released. In another case, the delay was already over 120 days.
At C6 Bank, a customer had his account closed more than six weeks ago and his salary is still withheld.
what companies say
O Techblog he went to C6 Bank, Iti Itaú and PagBank to find out why such cases occur.
The press office of C6 Bank sent the following note:
“C6 Bank informs that the account closing procedure complies with the terms of Central Bank Resolution No. 4,753 of September 26, 2019, with the customer’s prior notice of the measures to be taken in relation to the availability of balances and transfers of values. C6 Bank makes itself available through service channels to clarify customer doubts.”
Iti Itaú sent this positioning:
“Iti Itaú did not have access to the data of the customers in question, which made it impossible to analyze the cases and clarify what might have happened in each of them. The bank also emphasizes that it continually invests in its products and services to ensure the best experience for its customers, who can use the service channels to check and solve specific cases of problems with their accounts.”
PagBank did not respond to our email.
Central Bank: institution may close account, but there are rules
O Techblog it also looked to the Central Bank to understand whether banks can close customer accounts. The answer is yes.
“The opening and maintenance of a deposit account presupposes a freely signed contract between the parties – financial institution and client. Thus, the institution is not obliged to open or maintain a deposit account for the citizen, and, as it is a voluntary and indefinite contract, an account can be closed by any of the parties involved.”
The contact needs to provide hypotheses, conditions and procedures for closing the account, whether by the client or the bank.
There are some rules for closing. CMN Resolution No. 4,753, of September 26, 2019, requires the following measures:
(i) communication between the parties of the intention to terminate the contract;
(ii) indication by the client of the destination of any credit balance in the account or the placing of funds at their disposal for subsequent withdrawal in cash;
(iii) information by the financial institution to the customer about the deadline for taking the measures related to the termination of the contract, limited to 30 calendar days, counted from the communication between the parties of the intention to terminate the contract; and
(iv) communication by the financial institution to the customer about the closing date of the account or about the reasons that make it impossible to close, after the expiration of the period of 30 calendar days.
Financial institutions must maintain individual internal controls per closed account until the money is returned.
The Central Bank also recommends looking for the customer service sector of each company and, if there is no agreement, resorting to the company’s ombudsman.