The Superintendence of Banking Sector Institutions (Sudeban) published August 14 a resolution that eliminates the daily limits currently applying to transfers between accounts of the same bank, regardless of whether they belong to different users. Sudeban thus seeks to foster the use of financial services amid the COVID-19 pandemic. The measure comes into force August 27.

The resolution asks banking institutions to step up their monitoring of financial transactions to prevent any theft of confidential data from happening, such as the customer’s name and the number of credit and debit cards, among others. The bank must also make the necessary technological and administrative adjustments to implement this measure. 

Following the entry into force of the regulation, banks are required to send an email to [email protected] informing the current limits established for transactions between accounts of the same bank.