São Paulo, 24 March 2020 – PRESS RELEASE
Santander Brazil is offering special conditions in financial solutions to help Brazilian entrepreneurs breathe easier. The bank's corporate customers will benefit from a three-month grace period before they make their first payment of working capital facilities. To do so, they will only need to have the money from POS transactions paid into their Santander account. In turn, MEI (individual micro entrepreneur) customers can be exempt from paying their service package fee and access free TEDs and DOCs for up to two months, and then use this sum as credit to pay utility bills (electricity, water, phone, etc.) via direct debit and authorised direct debit (DDA).
Both initiatives aim to offer liquidity to entrepreneurs at a time of reduced economic activity, while enabling better budget and payment management. Applications for these offers can be submitted until 30 April. For more information, see www.santander.com.br/cuidar.
To give its employees greater peace of mind, Santander announced yesterday that it will not initiate any dismissal proceedings during the critical period of our current crisis. Additionally, the bank has shortened its opening hours, from 10.00 to 14.00, for all of its branches in Brazil, in accordance with local regulations, and recommended a minimum distance of one metre between employees and customers. In Rio de Janeiro and São Paulo, some of the branches have been closed as an additional measure to reduce foot traffic. And branches with a higher number of pensioners among their customers are implementing a dedicated time slot for this group, 09.00 to 10.00.
The bank has also joined the initiative to extend the due date of credit payments for non-defaulting customers by up to 60 days, as per the resolution by the Brazilian monetary council (Conselho Monetário Nacional). At the moment, this initiative applies to personal credit facilities (CP), "preventive" credit, direct consumer credit (CDC) and property financing arranged at branches. For corporate customers, the initiative includes working capital and CDC with an extension of the contract's due date to provide for the extended payment periods. For more information, see https://www.santander.com.br/campanhas/santander-te-apoia.
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