See how to check your forgotten money and how to request a refund through the Amounts Receivable System.
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Currently, more than R$ 7 billion is sitting idle and forgotten in some financial institution. This amount includes around R$ 6 billion from individuals and R$ 1.5 billion from companies.
According to the Central Bank, on average, forgotten balances range from smaller amounts such as R$10 to more significant amounts, usually over R$1,000.
And although most people don't have such significant balances, it's important to know that it's possible to locate these forgotten balances easily and request a refund.
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So, although most of these values are not significantly high, it is crucial to realise that forgotten money is not lost, but can depreciate substantially over time due to inflation.
Today, as we will see in the course of this content, requesting the redemption of forgotten amounts has become a relatively simple process following the Central Bank's initiative to create the Valores a Receber system.
Read on to find out all about Valores a Receivable and, with the increasing number of scam attempts these days, how to be vigilant when checking your forgotten balances with financial institutions and how to request a refund.
Quick Index
Understanding Forgotten Money
The term "forgotten money" refers to funds that, for various reasons, have been neglected or abandoned by their original owners.
These funds can be in old bank accounts, residual investment balances, unclaimed insurance premiums, pension funds or even credits from financial institutions.
There has recently been a change in the rules relating to these funds: now, if the money is not redeemed by the owners within a set period of 30 days (until 16 October 2024), it will automatically be transferred to the National Treasury.
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This measure aims to centralise inactive funds and use them for public purposes, such as infrastructure projects and social programmes. This means that, at the end of the stipulated period, the amounts not recovered by the owners will no longer be available for personal redemption.
With this change, it is even more important for people and companies to regularly check if they have forgotten valuables to avoid losing these funds.
Once transferred to the government, the recovery process can become more complex and bureaucratic, making redemption difficult and less accessible to the original owners.
Values Receivable System (SVR): how it works
O Receivables System (SVR) is a platform created by the Central Bank of Brazil to allow citizens and companies to consult and recover amounts forgotten in financial institutions.
These amounts can come from closed current or savings accounts, unduly charged fees, insurance, consortia, among others.
How to Recover Forgotten Values
Retrieving forgotten valuables is a relatively simple process, carried out through the Valuables Receivable System (SVR). This service allows you to check if you have forgotten valuables in financial institutions and provides guidance on how to recover them.
It's important to be aware of the scams that are prevalent these days. The only official and secure website is the one provided by the Federal Government and the Central Bank.
To make the enquiry, simply go to the Valores a Receber (SVR) system website, enter your details and then request the transfer of any balances to your current account.
Important: to be able to request the transfer you need to have a Silver or Gold level gov.br account.
Remember that anyone can make the enquiry and that the service is available to individuals and companies.
You will be redirected to another site
Take Care When Redeeming Your Money
With the increasing incidence of scams, it is essential to be cautious when making your enquiries and redeeming amounts. Never pay fees to consult or redeem your forgotten money, as the official service is completely free.
There is no official app for the Valores a Receber system published in the App Store and Google Play. All enquiries must be made via the website listed above.
Making Your Money Work for You
Once redeemed, the money must not remain idle. Investing the recovered amount is crucial to ensure that it not only maintains its value, but also grows.
Investments such as CDBs or Treasury Direct can turn modest sums into significant amounts over time, due to compound interest and other forms of income.
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UPDATE: New deadline for withdrawing forgotten money
Consumers who have forgotten values in Receivables System (SVR) should pay attention to the new deadline set by the Central Bank. Until 16th October 2024You can consult and request the redemption of these funds directly through the system.
If the amounts are not claimed by that date, they will be transferred to the National Treasury and a new 30-day period will be opened for claims. After this period, recovery can only be made through the courts.
This change aims to encourage holders to redeem their funds in good time, preventing amounts from being forgotten for long periods. It is therefore important that everyone checks their details on Bacen's official website and follows the guidelines for requesting a withdrawal.
Conclusion: Seize the Opportunities Available
If you suspect you may have receivables, don't hesitate to check and redeem your money. Use the resources available to you to strengthen your financial health.
Always be vigilant and only use official channels to avoid falling for scams. Forgotten money is money that could be working for you through investments.
FAQ - Frequently Asked Questions
What is forgotten money?
The term "forgotten money" refers to funds that have been neglected or abandoned by their original owners, often in inactive bank accounts.
How can I recover forgotten values?
You can redeem forgotten amounts via the Securities Receivable System (SVR). Simply go to the SVR website, enter your details and ask for the balances to be transferred to your current account.
What precautions should I take when redeeming my money?
It's essential to be aware of scams. Never pay fees to consult or redeem your forgotten money, as the official service is free. Only use the official SVR website for enquiries and redemptions.
How can I make my money work for me?
Once redeemed, it is important to invest the amount recovered. Investments such as CDBs or Treasury Direct can turn modest amounts into significant sums over time, due to compound interest and other forms of income.
