Central Bank puts an end to “pocket accounts” and changes financial privacy in Brazil

The Central Bank of Brazil (BC), through the Joint Resolution No. 16/2025, The European Commission's report, which was published in the Official Journal of the European Union, effectively decreed the end of so-called "pocket accounts" in the financial and payments market. The rule increases regulatory transparency, but also reduces users' financial privacy and tends to increase operating costs for institutions that rely on BaaS (Banking as a Service) infrastructure.

Art. 8, point XIV - the final blow to the pocket accounts

The resolution deals with companies that provide Banking as a Service services, the borrowers of these services (including Payment Institutions) and relations with end customers.

BaaS are banking technology companies that serve as infrastructure for other institutions. Among them are Celcoin, Dock and Pismo, which help various companies integrate banking solutions. 

In order to reduce costs and at the same time offer greater privacy to users, many BaaS-taking institutions used the so-called pocket accounts. In them, the money of all the clients was concentrated in a bank account held by the company, In some cases, the client would even use the customer's credit card, which internally kept track of the balances. In some cases, the client even used the CNPJ of the platform itself to receive or send resources.

The new regulations, in article 8 and item XI, put an end to this practice:

“The BaaS service provider is prohibited from making payment transactions, receipts and deposits in its own account of amounts related to services provided by the BaaS service provider to clients.”

In addition, Article 4 reinforces that no transactions can leave or arrive through the company account, by demanding that:

“Payment transactions must originate or end exclusively in accounts held by the customer.”

“It won't exist,” says the Central Bank's director of regulation on escrow accounts

Responding to the press, Gilneu Vivian, director of Regulation at the Central Bank, categorically confirmed the end of "bolsões" accounts and any similar model based on escrow account controlled by the platform:

“There will be no question of it being a pocket account, where the BaaS borrower manages who the parties are in an escrow account. All customers will be identified in the institution that is providing that service. “ said Gilneu Vivan, director of regulation at the Central Bank. 

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FAQ - Questions about the end of pocket accounts