Here's how to check and claim your forgotten money and improve your financial situation
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Every year, billions of dollars are forgotten in bank accounts, loyalty programmes, life insurance and other sources.
This forgotten money often goes unnoticed by its owners, who could use it to pay off debts, invest or simply improve their quality of life.
The phenomenon of forgotten money is more common than you might think and affects thousands of Brazilians, and you may be one of them. But how do you go about finding and recovering your forgotten money?
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Although you can check individually at each of the banks or companies you believe have forgotten funds. The Central Bank, together with the Federal Government, has launched the Valores a Rece Receber programme, simplifying the entire consultation and redemption process.
Remember that the only reliable 100% search engine is the official one run by the central bank, so avoid making enquiries on suspicious sites that promise to help you recover your money.
In this article, we've put together the step-by-step instructions you need to follow to get your money back. See below:
Quick Index:
Step by step: consult and withdraw forgotten money
One of the most recurrent ways until 2021 was to check all old bank accounts by contacting the bank directly, the check must include savings, current, children's and deceased family members' accounts.
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And do the same with financial records in search of cheques, or lottery companies in search of unclaimed prizes.
But this whole process was very labour-intensive and required a certain amount of caution to avoid falling victim to fraud and other scams. With a view to simplifying the whole process, the Central Bank and the Federal Government launched the Securities Receivable System (SVR). Here's how to use it:
Step 1: Consult
1. Access the website of the Central Bank of Brazil
2. Consult receivables
- Click on "Receivables" to access the enquiry page.
- On the enquiry page, you will need to enter your CPF or CNPJ and your date of birth or the date the company was opened.
- Solve the captcha (security check) and click on "Consult".
3. Verification and results
- If there are receivables, the system will display this information.
- Write down the amount and the financial institution where the money is available.
Step 2: Requesting the Redemption of Amounts
After writing down the amount and the institution where the money is, follow the next steps to redeem your forgotten money.
1. Contacting the Financial Institution:
Contact the financial institution indicated. This can be done in different ways, depending on the institution:
- Telephone: Call your financial institution's customer service.
- AgencyGo in person to a branch of the financial institution with the necessary documents.
- Website/Application: Some financial institutions may allow you to request redemption directly via their website or app.
2. Redemption Request:
- Tell them that you want to redeem amounts that are in the Central Bank's "Receivables" system.
- Follow the instructions provided by the financial institution. This may include filling in a form or submitting additional documents.
Step 3: Necessary documents
Have the following documents at hand to make the process easier:
- Identification document (RG or CNH): To prove your identity.
- CPF or CNPJ: Document that was used for the initial consultation.
- Proof of Residence: Recently issued (last 3 months) to prove your address.
- Bank details: To transfer the amounts, if the institution allows redemption directly to your bank account.
Step 4: Receiving the money
- After the request and verification of the documents, the financial institution will process the redemption of the amounts.
- The time it takes for the amounts to be credited can vary, but is usually completed within a few working days.
Redemption Confirmation:
- Check that the amount has been credited to your account as agreed with the financial institution.
- In the event of any problems or delays, contact the institution again to resolve the issue.
Why redeem?
Recovering forgotten money is more than simply redeeming an extra amount; it's a way of optimising your financial situation and recovering what is rightfully yours.
These amounts, which may be sitting in inactive bank accounts, unredeemed insurance premiums or even old investments, represent a resource that can be used to pay off debts, invest or plan new financial goals.
Even small amounts can make a difference when added up and reinvested.
In addition, redeeming these funds is important in order to avoid losing these assets for good. With the emergence of new government regulations, recovering forgotten money is now easier, but requires extra attention to the established deadline.
So redeeming these amounts is not just a question of recovering funds, but also of seizing an opportunity before it becomes more complicated and bureaucratic.
ATTENTION: Deadline set for withdrawal
With the new rules implemented by the government, there is now a specific deadline for owners to redeem their forgotten valuables. If the redemption is not requested within this period, the amounts will be automatically transferred to the National Treasury.
This means that the original owner will lose the right to claim these funds easily in the future, and the recovery process will become more complex and time-consuming.
These changes are intended to prevent funds from lying idle and unused, allowing the government to reallocate them to other purposes. It is therefore essential that everyone pays attention to the notifications and dates established in the Central Bank's "Amounts Receivable" system.
Acting on time is crucial to ensure that your money gets back into your hands and can be put to the best possible use. Don't leave it to the last minute, as amounts that are not redeemed in time will be incorporated into public assets, making the process of recovering the funds much more bureaucratic and less accessible.
Conclusion
Many people stopped redeeming their forgotten money not because they had forgotten it, but because it was too much work. But with the introduction of the Valores a Rece Receber system, redeeming your money has become even easier and more practical.
Whether it's R$10, R$ 100 or R$1,000, redeem what's yours. Any amount is better than nothing. Use your money to make even more money and don't let your wealth lie dormant and forgotten. Redeem it today.
Read also: Financial education to avoid a financial crisis
Frequently Asked Questions:
What is "forgotten money"?
"Forgotten money" refers to unclaimed amounts, such as dormant account balances, uncashed cheques or unredeemed investments.
How do I check if I have forgotten money?
To check if you have forgotten money, go to the Central Bank of Brazil's website in the "Receivables" section and review the records of old accounts.
What documents are needed to redeem these amounts?
You'll need an identity document (ID or driver's licence), recent proof of residence and documents proving ownership of your valuables.
How do I request redemption?
Contact the financial institution by telephone, e-mail, visit to the branch or via the website, following the instructions provided.
How long does it take to receive the money?
Generally, the funds are transferred within a few working days of the application being approved, but the time can vary depending on the institution.
