Consumer News

My bill is due on a holiday. How do I pay?

11/14/2016

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Article 1 of Law 7089/83 prohibits the collection of interest due on Saturday, Sunday or public holidays

Marcos Santos | USP Images

You should know that an account due on a holiday can be paid later, right? But how many days later? Simple, next business day. The rule also applies to invoices that expire on Saturdays and Sundays. In either case, the consumer has the right to make payment on the next business day, without interest and fine.

The right in this case is guaranteed by Article 1 of Law 7089/83, which prohibits the collection of default interest by banking establishments and financial institutions due on Saturday, Sunday or holiday, provided that it is paid on the first working day thereafter. The same rule applies to the payment of your credit card bills.

Beware of holiday amendments

This rule still causes a lot of confusion in cases where holidays fall on Tuesdays or Thursdays. Mainly because it is common to enjoy the extended holiday to travel and the desire to rest is so much that that ticket can pass beaten.

For example, if your invoice expires on a Saturday or Sunday and the holiday on Tuesday, payment must be made on the second, which is next business day after expiration.

The same is true if the invoice wins on a holiday that falls on a Thursday: payment must be made, of course, on Friday.

What if I forget?

If the debtor fails to pay the installment on the first working day thereafter, interest for late payment may only be paid from that business day. If there is a fine retroactive to the maturity of the obligation, this must be provided for in a contract signed by the consumer.

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