Banco do Brasil Announces End of Partnership with Caixa in Lotteries

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Banco do Brasil Announces End of Partnership with Caixa in Lotteries
Photo: Agencia Brasil

Banco do Brasil (BB) announced that the agreement with Caixa Econômica Federal for the use of lottery agencies and self-service terminals (TAA) in the shared system will be finalized on November 18 this year.

As such, Banco do Brasil customers will no longer be able to withdraw money and check the balance of their respective accounts at the lottery agencies spread across the national territory. In relation to bank payment slips, the only possibility will be with cash.

In an official note sent to the Brazilian Securities and Exchange Commission (CVM), Banco do Brasil pointed out that it started a movement to increase its network of correspondents, Rede Mais BB, in cities that only have lotteries as forms of service to the public today.

“It is important to note that Rede Mais BB offers a portfolio of services for Banco do Brasil’s clients, such as: receipt of payment slips, balances and statements; agreements and taxes; deposits; payment of INSS benefits, in addition to withdrawals from current accounts. and savings “, appears in the official statement of BB.

Reasons for terminating the agreement

According to Yahoo Notícias, Caixa sought to renegotiate the contract with BB in order to readjust the amount required by the operations, only that Banco do Brasil evaluated the readjustment too high and understood that it would not be worthwhile to continue the partnership.

In Banco do Brasil’s view, it became much more interesting to invest in the growth of its own network of correspondents in cities that still depend on Caixa’s equipment. In addition, BB took into account the news from the consolidation of the instant payment system, PIX.

According to the Central Bank, the PIX will be fully functional on November 16. The expectation is that at the beginning of next year, any company or store will be able to provide the withdrawal alternative to its customers. Therefore, the option for lottery tends to gradually lose importance.