From Cents to Thousands: Here’s What to Do With “Forgotten Money” in Banks

Cents, hundreds or thousands… Regardless of the amount, the “extra money” available in the Values ​​Receivable System can be a way to alleviate finances. According to experts consulted by the CNN Brasil Businessthe amount will determine how and what to prioritize, and that debt repayment is always the first step.

The Central Bank released this Monday (7) the consultation of the balance of “forgotten accounts” in banks and financial institutions. The monetary authority did not inform the amount to be transferred by CPF and CNPJ, which makes it impossible to obtain an accurate average about the amounts that each person and company has to receive.

What is known is that, in this first phase, approximately R$ 4 billion will be released to 28 million users (26 million individuals and 2 million companies).

According to Patrícia Palomo, asset manager and advisor at Planor, as the amounts were not expected, the user should not miss them and can use them to pay off debts or compose an emergency reserve.

“Within financial planning, an unexpected extra resource as in the case of amounts receivable announced by the BC, the first destination should be to write off debts if they exist”, he said.

For those without debt, Palomo recommends putting the money into an emergency reserve. “If we don’t have debts and we already have reserves, the money received can be invested or spent,” he added.

The financial education specialist Isabela Fontanella says that, if the amounts receivable are very low, it is recommended to try to pay off part of the debts and try to renegotiate pending payments.

“I always think that paying off debts is worth it, to relieve not only the pocket but the psychological stress as well. But if the amount is too low to make a rebate, maybe it can be used to help pay an installment, for example,” he said.

Renegotiating or investing

According to the expert, the person should not be afraid to propose renegotiations, as banks are willing to negotiate debts even with lower installments.

“Each debt allows for a different type of abatement. For those who have amounts of at least 20% of the debt receivable, it is recommended to open a renegotiation to see if with the new money it is possible to end the pending”, she advised.

In cases where the citizen does not have debts and wants to invest, Isabela recommends betting on fixed and post-fixed income.

“For people with low amounts receivable and who want to start investing, Treasury Direct is indicated, which has investments from R$30, in addition to several funds that have a minimum investment of R$100”, he said.

Patrícia Palomo added that, as the resource was not as planned, being earmarked for longer-term objectives, in assets that can offer greater potential for return, is a good option.

However, this is not the move she expects. “We have a natural and human tendency to be more careless with resources that we don’t ‘strive’ to earn. This trend ends up leading to a very common behavior that is people spending this resource they receive unexpectedly”, she evaluated.

“As the quoted value on average is low, it is very likely that this is the most observed behavior for people who receive less representative amounts”, he added.

As for the amounts that will be transferred by CNPJ, which tend to be a larger amount, the analysts interviewed by the CNN Brasil Business said that it is also necessary to keep your feet on the ground.

“With regard to companies, the recommendation is the same. If they have significant values, it is essential to use the money to pay off debts”, said financial planner Rafael Monteiro Ue.

“But if the company does not have debts, it is always good to make a reservation, as there is usually payment for employee vacations and other costs. In addition, starting a reserve for the payment of the 13th salary would also be a valid destination for the resources”, he concluded.