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1h ago

FGC Begins Paying Banco Master Clients After Liquidation

The fund moves roughly R$40.6 billion to covered investors after a lengthy validation to filter out fraudulent claims.

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Ao todo FGC prevê restituição para 800 mil pessoas no caso do Master

Overview

  • Payments started Monday after 569,000 requests were filed and about 377,000 were fully validated and queued, with transfers occurring up to two business days after completion.
  • Coverage is capped at R$250,000 per CPF or CNPJ across Banco Master, Banco Master de Investimento and Letsbank, including balances and returns accrued until the liquidation date.
  • High traffic and identity‑validation errors have slowed processing, and the FGC urges users to submit legible documents containing a CPF and to follow the app’s instructions closely.
  • The pool of eligible creditors was revised to roughly 800,000 from 1.6 million, and guaranteed payouts are estimated at R$40.6 billion, with the FGC reporting R$125 billion in liquidity.
  • Investments outside FGC protection, such as many fund holdings, remain unresolved, while probes into alleged large‑scale fraud involving Master and Reag continue.