PERU

On September 9, the Superintendency of Banking and Insurance (SBS in Spanish), through Official Communication No. 44035-2021-SB, published the precisions to be considered by the companies of the financial system and electronic money issuers to open accounts, massively or individually, to facilitate the payment of funds granted and/or released by laws and other regulations in view of the National State of Emergency. The resolution states that the companies do not require the user’s consent for the opening of such accounts, however, the client’s identity and information must be verified.

The official notice also stipulates that companies may use savings deposit or electronic money contract models containing general contracting clauses. Likewise, during the term of such contracts, the companies must comply with the regulations issued by the SBS, and must provide the user or client with the necessary remote access mechanisms, including those related to the contractual resolution process.

On the other hand, the document establishes that the entities may not charge commissions or expenses for a period of 150 calendar days from the transfer of the monetary subsidy to the beneficiary. Once this period is over, the application of commissions and expenses will be governed according to the provisions of the Circular of Categories and Denominations of Commissions, and in the case of electronic money accounts, according to the Regulation of Electronic Money Operations.