Applying to the Credit Guarantee Fund (FGC) may seem like a complex process at first glance, but with the right knowledge, it is something that can be managed with relative ease. In this section, we will demystify the process step by step so that you can feel more confident about how to proceed if the need arises.
The FGC is a private non-profit entity that protects account holders and investors against losses of up to R$250,000.00 per person against each set of financial institutions, if these institutions are unable to honor their commitments.
Most bank accounts for checking or savings deposits, bank deposit certificates (CDBs), real estate credit letters (LCI), agribusiness credit letters (LCA) and other types of bank investments are covered by the FGC.
In this sense, to claim the FGC guarantee, you must first check whether your account or application is protected by the FGC. Then, just wait for the FGC to start the process of paying the claims. They usually contact the customers of the insolvent financial institution directly.
In other words, applying to the Credit Guarantee Fund (FGC) is not a complex procedure, but it does require care and attention to detail. Here is a step-by-step guide to guide you through the process:
First of all, the first step to applying for the FGC is to check whether you meet all the necessary requirements. The main ones are being an individual or legal entity investor and having an investment covered by the FGC. In addition, the investment must have been made in an institution associated with the FGC.
Contact your financial institution to inform them of your intention to apply for the FGC. The institution should provide all the necessary information and guide you through the process.
Beforehand, you will need to collect and submit several documents to the FGC. This usually includes copies of your personal documents, proof of residence, as well as proof of the investment made and, if applicable, proof of your relationship with the financial institution.
So, the last step is to receive the amounts owed by the financial institution through the FGC. Remember to check whether the amount received is in accordance with the capital invested and the income due.
Finally, if you still have doubts, do not hesitate to seek help from competent bodies or specialized professionals.
Financial planning requires a lot of astuteness and attention to detail. During the process of applying for the Credit Guarantee Fund (FGC), you can easily make some mistakes. Here are some of the common mistakes you should avoid.
However, it is important to note that the FGC only covers up to R$250,000.00 per CPF and per institution. Generally, many people make the mistake of ignoring this limit, which can result in the loss of part of their resources.
FGC coverage is not per account, but rather per CPF or CNPJ, in each institution. Therefore, if you have more than one account at the same institution, the FGC limit will be considered for all your accounts in total (up to the limit of R$250,000.00), and not for each one individually.
In other words, you should be aware that not all financial products are covered by the FGC. We often think that all our resources will be protected, but this is not exactly true. Government bonds, LCI, LCA, CRI, CRA and Debentures are not covered by the fund. This is a common mistake that should be avoided.
Finally, remember to check the FGC details on the official website to obtain complete and accurate information.