Caixa creates 30 million accounts to pay R$ 600 aid
The Caixa Econômica Federal bank has created more than 30 million digital savings accounts to pay the R$600 emergency aid to informal workers, the bank's president, Pedro Guimarães, announced on Tuesday.
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According to him, Caixa wants to encourage beneficiaries to make digital transfers and payments to avoid crowding in branches and lottery outlets at a time when the new coronavirus is spreading more and more in the country.
“That’s 40 to 50 million people (benefiting) in a month. This would clearly generate a very large physical impact on our agencies and lottery outlets, even with lottery outlets. Because of this, we are making a unique effort to make digital payments,” said Guimarães.
According to him, there is an effort to enable these Brazilians to "pay water bills, electricity bills, and make DOC transfers" digitally "so that they don't have to leave home."
He also stated: "Brazilians will be able to make free DOCs (bank transfers) and free bill payments. Few countries in the world have managed to get 30 million people into digital accounts in such a short time."
Payment schedule
Informal workers who receive the R$$ 600 emergency aid will not be able to withdraw the funds in cash initially.
For now, the money can only be used for digital transactions, such as payments and transfers.
"People will receive the money in their accounts and will be able to make transactions. But withdrawals will have a schedule. If we release 50 million for cash withdrawals all at once on a single day, we will have a collapse in the financial system. We are studying a staggered schedule for receiving cash," said the president of Caixa.
Therefore, in practice, the money will be available in the beneficiary's bank account and in the 30 million digital savings accounts that are to be created for those who do not yet have a bank account.
However, the winners cannot withdraw the prize money in cash.
According to Guimarães, the government expects that informal workers are already accustomed to bank transfers, as this tends to be part of their routine.
However, he admitted that the low-income population, which is registered in the Unified Registry of social programs, such as Bolsa Família, for example, may have a greater demand for cash withdrawals.
Payment of the first installment
Payment of the first installment will take place as follows:
- Those who are registered in the Single Registry and do not receive Bolsa Família, but have an account at Banco do Brasil or a savings account at Caixa Econômica Federal, will receive emergency aid on April 9, Thursday;
- Anyone who is registered in the Single Registry, does not receive Bolsa Família and does not have an account in the banks mentioned above, will receive it on April 14th;
- Those who are Bolsa Família beneficiaries will receive their payments in the last 10 business days of April, following the program's regular calendar;
- In turn, informal workers, who are registered in the Single Registry, will receive the benefit within 5 business days after registering for the emergency aid program.
Payment of the second installment
Payment of the second installment will be made as follows:
- Those who receive Bolsa Família will receive the aid in the last 10 days of May, following the program's regular schedule;
- Citizens who are registered in the Single Registry, but who do not receive Bolsa Família, and informal workers registered in the program, will receive it between April 27th and 30th.
Payment of the third installment
Finally, the payment of the third installment will happen as follows:
- Those who receive Bolsa Família will receive the aid in the last 10 days of May, following the program's regular schedule;
- Citizens who are registered in the Single Registry, but who do not receive Bolsa Família, and informal workers registered in the program, will receive it between May 26th and 29th.
How do I register for the Emergency Aid program?
The Caixa Econômica Federal has released the application through which informal workers, self-employed individuals, and micro-entrepreneurs can apply for emergency aid in the amount of R$ 600.
In this way, the app is available for mobile phones on the Play Store (Android) and App Store (iOS) where orders can be placed.
In addition, a phone number needs to be provided so that workers can ask questions.
Furthermore, the benefit will be paid to informal workers, self-employed individuals, and micro-entrepreneurs.
It is important to emphasize that there are requirements to be met in order to receive the benefit, and if any of them are not met, the emergency aid may be automatically canceled.
See also: Banks will not be able to use emergency aid funds to pay off debts.
