Santander: bank must pay millions because of undue charges

The Central Bank and Banco Santander Brasil reached an agreement for the return of R$ 79 million to customers for charges that the monetary authority considered undue. The amounts returned correspond to charges made between 2014 and 2022. According to the BC's agreement, which was finalized in May, it was defined that the bank must return R$ 18.3 million to 378,046 customers.

In this sense, if you want to know more details about the money devolution from Santander to customers, just continue reading this article.

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More than 300,000 customers will receive money for undue charges

Santander said in a note that 90% of the amounts related to the agreement have already been reimbursed, and that by 2023 all operations would already be done. In this sense, the 378,046 customers who suffered financial losses as a result of an incorrect calculation made in relation to the value of payments made for advance installment operations by credit card, will be entitled to receive reimbursement from the Santander.

The values ​​refer to operations involving the “Total Installments” product. In this case, instead of using the closing date of the invoice, the bank was using the due date to calculate the current value.

How will the reimbursement be made?

It was decided in the agreement that Santander should stop charging fees for individual micro-entrepreneurs and individual business clients for using the PIX. In this case, the bank was obliged to return BRL 17.6 million to 268,583 customers in transactions that took place between March and February 2021.

If the amounts in the agreement cannot be refunded within 12 months after signature, Santander will be obliged to make a financial contribution to the BC so that the amounts are returned to customers. The bank stated that the issues that led to the signing of the agreement have already been resolved and that measures have already been taken so that this error does not occur again.

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