Banking portability can be the solution to your situation. Bank dissatisfaction, interest charged and services rendered have led many consumers to switch financial institutions. And believe it, as well as legal, this bank transfer gives the customer a chance to find fairer rates and more qualified service.
What is banking portability?
Banking portability is an available and guaranteed resource to the consumer since 2006. This change of bank can be made and is usually associated with exchange of bank on account of loan transfer or even account-salary. Regardless of the case, this bank transfer brings some important advantages to the bank and consumer relationship.
How do I request portability?
Bank transfer is available for individuals and salaried employees. As provided by law, a civil servant or civil servant may choose the bank he or she deems convenient to receive his salary. Choose, receive the salary and do not pay anything extra for it, even if it is not the same bank as the payer.
To request portability you need to go to the bank of your choice by taking personal documents and account data from the other bank. Remember that you should not have outstanding debts with your other bank, only loans to be properly cleared with installments due and not due.
The banks exchange the information, pass the data to the desired institution and all this without the client having to help or intervene. It is worth remembering that the desired bank can choose whether or not the client. Portability is not available for retirees and pensioners of the INSS.
What are the advantages of changing banks or finances?
The possibility of doing portability brings a certain competitiveness in the market. Banks have sought greater flexibility in negotiating fees, a qualification in service and even a wide opening in the line of services. All this so that the client feels satisfied and stays with the institution.
In addition to heating the market, portability gives the consumer independence to choose banks with lower interest rates, flexibility of negotiation and, consequently, savings in the consumer’s pocket.
How to make banking portability for credits?
Credit portability is the transfer of loans or financing from one bank to another, through the early settlement of the operation in the original institution by the new financial entity, according to the Central Bank of Brazil.
In practice, the new bank you have chosen will refinance the debt with more affordable value. Incidentally, know exactly the outstanding amount of the credit or financing, because when transferring to the new bank, you will pay exactly that amount, without increasing term and debt.
It is worth remembering that before making the change it is necessary to know the CET (Total Effective Cost), which are the charges and expenses that are involved in the bank transfer.
According to instructions from the Central Bank, the financial institution has the obligation to share information regarding credit operations, such as:
- Contact number;
- Debtor balance updated;
- Statement of the evolution of the outstanding balance;
- Annual, nominal and effective interest rate;
- Total and remaining term;
- Payment system;
- Value of each installment (specifying the amount of principal and charges) and
- Date of last maturity of the transaction.
What is required for portability?
The important documents for you to take to the new bank are:
- Proof of address
- Data from the old bank
This information may change from bank to bank, so consult more information at the institution you have chosen.
In the transfer of bank to receive salary it is necessary that the client makes the request in writing, which can be made via internet banking or direct at the agency.
The document must contain data from the new account where the salary must be deposited. The bank has up to 5 business days to make the change after the communication.
If the transfer by credit, request in the old bank information such as contract number, balance due and number of remaining installments. This statement must be delivered to the new bank that will receive you as a customer.
It is worth emphasizing that the old bank can make a counter-offer and offer some more advantages or even decrease some fees. Think well if the proposal is good!
Banking portability is the transfer of information and documents from a customer and this is done between banks without direct intermediation of the customer. If deadlines or changes are not met, check with Procon. There, you will have the guidance how to proceed and they have interceded to resolve the transfer.