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2h ago

FGC Begins R$40.6 Billion Banco Master Payouts as App Struggles on Day One

Requests opened after the liquidator finalized records, with reimbursements capped at R$250,000 per client per bank and credited within two business days.

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Overview

  • Formal requests started on January 17 for clients of Banco Master, Banco Master de Investimento and Letsbank, with individuals using the FGC app and companies the fund’s website.
  • About 800,000 creditors are eligible for payments totaling R$40.6 billion, the largest operation in the fund’s history, and the FGC reports roughly R$125 billion in liquidity.
  • Coverage applies to accounts and eligible instruments such as CDBs, RDBs, LCIs and LCAs, considering balances and accrued interest only up to the November 18, 2025 liquidation date.
  • Amounts above the FGC limit remain in the Banco Central–led liquidation process, and the fund stresses that it charges no fees, uses no intermediaries and communicates only via official channels.
  • The mobile app saw instability from heavy traffic—over 140,000 accesses by midday—prompting FGC statements that technical teams were working to stabilize service and warnings about fraud attempts.