Bank fees vary up to 492%, according to Procon-SP – 05/25/2023 – Market

Procon-SP found a difference of up to 492% in fees charged by Brazilian banks in its annual survey, which compares the tables of priority services and standardized packages of the six main financial institutions: Caixa Econômica Federal, Banco do Brasil, Bradesco, Itaú, Safra and Santander. The survey also points out that consumers are paying more for services.

Priority services are any service provided to individuals involving:

• Register;
• Current or savings account;
• Credit and loan operations;
• Credit card;
• currency exchange services;
• Issuance of administrative check;
• Exclusion from the Register of Bad Check Issuers.

Of the institutions consulted for the survey, Bradesco changed the value of 28 items; Santander, from 25; Banco do Brasil, from 24; Caixa, from 17; Safra, from 7 and Itaú, from 2.

Procon-SP found the biggest difference in value in services in the transfer between accounts at the institution made by personal service between Banco do Brasil and Safra, of 492%. At Banco do Brasil the amount charged was R$ 7.40 and at Safra it was R$ 1.25.

In the case of electronic transfers, the difference found was 45% between Safra and Santander/Itaú.

Check the variation in the value of face-to-face bank transfers

Financial institution	2022	2023	Variation
Bank of Brazil	BRL 6.90	BRL 7.40	7.24%
Bradesco	BRL 1.65	BRL 1.70	3%
Caixa Econômica Federal	BRL 6.90	BRL 6.90	0%
Itau	BRL 1.75	BRL 1.75	0%
harvest	BRL 1.25	BRL 1.25	0%
Santander	BRL 1.75	BRL 1.85	5.71%

Source: Procon-SP

Check the variation in the value of electronic bank transfers

Financial institution	2022	2023	Variation
Bank of Brazil	BRL 1.30	BRL 1.40	7.69%
Bradesco	BRL 1.35	BRL 1.40	3.7%
Caixa Econômica Federal	BRL 1.20	BRL 1.30	8.33%
Itau	BRL 1.45	BRL 1.45	0%
harvest	BRL 1.00	BRL 1.00	0%
Santander	BRL 1.40	BRL 1.45	5.71%

Source: Procon-SP

The standardized packages of priority services became more expensive, with the highest annual variation in the Standardized Package IV, with an increase of 7.37% and an average cost of R$ 47.73.

Check the values ​​of the standardized packages

Financial institution	Standardized I	Standardized II	Standardized III	Standardized IV
Bank of Brazil	BRL 14.60	BRL 24.00	BRL 32.00	BRL 49.50
Bradesco	BRL 15.45	BRL 24.85	BRL 32.70	BRL 50.30
Caixa Econômica Federal	BRL 14.60	BRL 23.30	BRL 31.10	BRL 48.15
Itau	BRL 14.70	BRL 25.90	BRL 34.50	BRL 53.50
harvest	BRL 12.50	BRL 18.50	BRL 25.00	BRL 35.00
Santander	BRL 15.55	BRL 24.95	BRL 32.80	BRL 49.90

Source: Procon-SP

Among financial institutions, the biggest differences in values ​​between the packages were:

• Standardized I – difference of 24.40% between Santander (R$ 15.55) and Safra (R$ 12.50);
• Standardized II – difference of 40% between Itaú (R$ 25.90) ​​and Safra (R$ 18.50);
• Standardized III – difference of 38% between Itaú (R$ 34.50) and Safra (R$ 25.00);
• Standardized IV – difference of 52.86% between Itaú (R$ 53.50) and Safra (R$ 35.00).

Financial institutions are required to offer priority services individually or in standardized packages, as established by the Central Bank in Resolution 3919/10.

What the banks say

Banco do Brasil says, in a note, that its customers have several options for transfers between accounts, with different rates for each modality. The institution reinforces that customers can use essential services at no cost.

Santander and Bradesco say that the readjustment of values ​​follows the operating cost of services provided and the rules established by the Central Bank.

Itaú Unibanco claims to seek to maintain the best cost-benefit ratio for its customers. The bank says that account holders can opt for free essential services (with a limited number of services) at any time, and it is possible to obtain exemptions from the monthly fee of the package according to the relationship with the bank (those who have investments in Itaú can get the exemption or receive the salary in the bank, depending on the company).

The other banks did not respond until the publication of this text.

Consumer guidelines

Financial institutions are obliged to provide information on the essential services offered in a comprehensive manner, in accordance with the Consumer Defense Code.

Procon-SP recommends that, before contracting bank service packages, the consumer:

• Check if free essential services meet your needs
• Check with the bank which essential services are offered and the amounts that make up their gratuity
• If contracting the package is mandatory, since there are optional packages that cannot be imposed by the bank
• Compare prices between banks for the services offered in the packages
• See if the institution offers a discount on the package depending on the customer’s relationship with the bank

Bank customers can either contract priority services at individual rates for each service exceeding the essentials or contract a service package with payment of a single amount.

What are the essential free services offered by banks?

The Central Bank defines essential services for checking accounts:

• Debit or movement card;
• Internet queries;
• Check clearing;
• 2nd copy of the debit card, except if the account holder requests it for reasons outside the bank;
• Four monthly withdrawals at a cash desk, self-service terminal or by check;
• Two monthly bank transfers between accounts at the institution;
• Two transaction statements for the last 30 days through the cash desk or self-service terminal;
• Consolidated statement detailing amounts charged in the previous year for fees and interest, late payment charges, fines and other expenses arising from credit operations;
• Ten check sheets per month – except for accounts that operate only via card;
• Provision of any service by electronic means for accounts that use electronic means exclusively.

For savings account services are:

• Drive card;
• Internet consultations;
• 2nd copy of the debit card, unless the account holder requests it for reasons outside the bank
• Two withdrawals at a cash desk or at a self-service terminal;
• Two transfers to a deposit account of the same ownership;
• Two extracts containing the movement of the last 30 days;
• Consolidated statement detailing amounts charged in the previous year for fees and interest, late payment charges, fines and other expenses arising from credit operations;
• Provision of any service by electronic means for accounts that use electronic means exclusively