For investors
The FGC guarantee for Banco Master and Will Bank: how much you get and how to claim
The FGC, Brazil's deposit guarantee fund, pays up to R$250,000 per individual or company taxpayer ID across the whole Master group, including Will Bank. Claims are made only through the official app, with no fees and no intermediaries.
In this article
Calculator: how much the FGC covers
Add up everything you held across the group: Banco Master, Banco Master de Investimento, Letsbank and Will Bank, including interest up to the liquidation date.
Covered by the FGC
R$0.00
Becomes a claim in the liquidation
R$0.00
Enter your balance to run the calculation.
Illustrative calculation based on the FGC's public rules. The official amount is the one shown in the FGC app.
The rules in 30 seconds
- A limit of R$250,000 per individual taxpayer ID (CPF) or company ID (CNPJ), adding up all institutions in the same group. In the Master case, that includes Banco Master, Banco Master de Investimento, Letsbank and Will Bank. According to the FGC, the limit is consolidated across the group for securities bought from September 1, 2024; for those bought up to August 31, 2024, the guarantee is “preserved (limited to R$250,000)”. Check your own case in the app. (FGC, Gazeta do Povo, FGC (2))
- The calculation includes the amount invested plus interest up to the liquidation date: November 18, 2025 for Master. (InfoMoney)
- There is a cap of R$1 million every 4 years per investor, adding up guarantees received from any bank. (InfoMoney)
- Claims are made only through the FGC app and can be filed up to 5 years after the liquidation. (InfoMoney, FGC)
How to claim, step by step
- Download the official FGC app from your phone's app store and register. Companies use the Investor Portal on the FGC website (FGC).
- Verify your identity with biometrics and send the documents requested (InfoMoney).
- Create the password you will use to log in to the app (InfoMoney).
- Sign the claim digitally inside the app (InfoMoney).
- Watch for app notifications. According to B3, payment usually arrives within two business days of the claim (Bora Investir (B3)).
Minors and heirs of deceased investors file their claims by email, at atendimento.credores@fgc.org.br (InfoMoney).
Beware of scams
The FGC does not charge fees, does not pay in advance, does not use intermediaries and does not contact people by WhatsApp or text message. The only official channels are the FGC's app, phone line, email and social media accounts (InfoMoney, FGC).
If someone offers to “release” or “advance” your money in exchange for a payment, it is a scam.
What the FGC covers
Covered
- Checking and savings accounts
- Bank CDs (CDB and RDB)
- LCI, LCA and LCD notes
- Mortgage notes (LH)
Not covered (examples)
- Investment funds
- Financial notes (LF)
- Debentures, CRI and CRA
- Stocks
What about amounts above R$250,000?
Anything above the limit is not paid by the FGC. That amount is recorded as a claim to be paid in the bank's liquidation (InfoMoney). It is only paid if there are funds in the liquidation, following the order of creditor priority set by law. So there is no guarantee of when or how much you will receive.
The case's numbers at the FGC
- The FGC initially estimated R$40.6 billion in guarantees for about 800,000 investors at Master (InfoMoney). In the first half of 2026, it paid R$40.5 billion to 722,000 investors in the group. Including Will Bank and Banco Pleno, payouts reached R$51.2 billion for 2.5 million people through September 10 (InfoMoney).
- By April 2, 2026, about 692,000 creditors (89% of the total) had been paid, totaling R$39.2 billion (Bora Investir (B3)).
- Will Bank, liquidated on January 21, 2026, had about R$6.5 billion in term debt, including CDs (InfoMoney).
Frequently asked questions
I had R$300,000 at Master. How much will I get?
The FGC pays R$250,000. The remaining R$50,000 becomes a claim in the bank's liquidation, with no guarantee of when or how much you will receive.
I had money at Master and at Will Bank. Are there two limits?
No. Both are part of the same group, so the R$250,000 limit applies to the total. If you already received the maximum for Master, you will not receive more for Will Bank.
I have already been paid by the FGC for another failed bank. Does that change anything?
It may. There is a cap of R$1 million every 4 years per investor. If you have already received close to that, your guarantee for Master may be smaller. The calculator above does the math.
What is the deadline to claim?
Up to 5 years from the liquidation. For Banco Master, the deadline runs until November 2030.
Does interest keep accruing after the liquidation?
No. The calculation considers the amount invested plus interest only up to the liquidation date, which was November 18, 2025 for Master.
This guide is for information only and does not replace official guidance from the FGC or financial or legal advice.
Sources for this page
We compiled what these outlets and documents published. Click to read the original. Most sources are in Portuguese.
- FGC: Sobre a garantia FGC (site oficial)
- Gazeta do Povo: Investidores do Will Bank com aplicações no Master não terão ressarcimento adicional
- FGC: Pagamento de garantia (site oficial)
- InfoMoney: FGC: tudo sobre os pagamentos a investidores de Banco Master e Will Bank (Jan 2026)
- Bora Investir (B3): Total das garantias do Caso Master no FGC passa de R$ 41 bi; veja valores e como resgatar (Apr 6, 2026)
- InfoMoney: Após reforço de R$ 32 bi pós-Master, FGC fecha junho com R$ 116 bi em caixa (Sep 11, 2026)