How is payment made?
The FGC covers up to R$250,000 in fixed income investments per financial institution. Products include: current account, savings account, CDBs, RDBs, LCIs and LCAs. The limit of R$250,000 applies to each financial institution with a CPF or CNPJ, with a maximum value of R$1 million. This ceiling applies to every four-year period. After this period, the ceiling will be re-determined, according to the Fund. It is important to say that the Tesouro Direto, issued by the National Treasury, is not covered by FGM.
The payment process begins with BC's intervention in a financial institution. The intervener or liquidator appointed by the Central Bank to manage the financial institution subject to intervention or liquidation prepares a list of creditors, and consolidation of credits by the CPF or CNPJ to depositors and investors. After the verification phase, the intervener sends the list to the FGC, with the detailed amounts that each investor should receive.
Investors can use the fund's application. According to FGC, the app was developed to simplify payments. Therefore, investors can perform basic registration directly on the platform. After the FGC receives the data, the job is released to the creditors to finalize the security request. Upon approval to receive security in the application, the creditor submits the entire application online and payment is made directly to the checking or savings account maintained by the same owner. In the case of creditor companies, the person in charge of the company must request an FGM guarantee by filling out the form on the fund’s website.
How do I know if I qualify? What is the receiving process?
Information must be provided through intermediaries and on the websites of stable institutions. The FGC explains that when an order is made for the liquidation of an institution, the fund itself publishes the information and procedures on its website and social media networks.
