September 21, 2021
The new PIX rules will come into effect and affect all users

The new PIX rules will come into effect and affect all users

The new PIX financial transaction model will undergo a series of changes announced by the Central Bank (BC). In addition to PIX, other means of payment must also undergo changes such as TED and DOC. The goal according to BC is to achieve greater security in financial operations.

Among the changes, we will have a reduction in the transfer limit via PIX at night, which is the 24-hour minimum to request a transfer increase, among other changes we will tell you about below.

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PIX quickly became popular because it allows financial transactions 24 hours a day, including weekends and holidays. However, it ended up giving way to an increase in the number of frauds practiced through digital payments. Thus, the central bank had to increase its protection and define more rules and requirements for the platform.

Changes do not have a specific date to become effective. “We imagine it will be effective in a few weeks because the participating financial institutions, payment institutions and cooperatives must have time to prepare to implement the measures,” said Joao Manuel Pinho de Mello, Director of the Financial System Organization and Central Bank Decision. .

new changes

• The maximum limit is R$1,000 for financial transactions between individuals from 8:00 pm to 6:00 am.

• Users who wish to make a transfer of more than one thousand Brazilian riyals must submit the application on the digital channel of the bank, where the minimum period will be 24 hours and the maximum period of 48 hours to grant the increase;

• Users can leave a lower ceiling for overnight transactions.

• For transactions over R$1,000 during the night, it will be necessary to register specific accounts;

• A new period of no less than 24 hours for the pre-registration of accounts in digital channels.

• Overnight users can hold transactions for 30 minutes during the day and one hour at night for risk analysis.

Night time limit

The new definition set a limit of R$1,000.00 for transactions between individuals and individual small and micro businesses from 8 p.m. to 6 a.m. The new limit includes transfers between accounts of the same bank, PIX, prepaid and debit cards used for TED transfer and settlement transactions.

Director João Manoel Pinho de Mello stated that “such an intervention protects people’s assets, does not reduce the usability of means of payment, and discourages certain crimes such as hijacking if the result of the crime is only R$1,000.”

According to the manager, currently, 90% of transactions made through Pix at this specific time have an amount equal to or less than R$500, therefore, the established limit will not have a significant impact on the usability of the payment system.

Customers will still have the right to choose and manage their limits on Pix. They may choose not to transfer via Pix at certain times and may have different day and night limits.

Limit changes

There will also be a new period of at least 24 hours, which can be understood as up to 48 hours, for the validation and implementation of the user’s request to increase the limits implemented by the digital channel. This change will serve both for PIX, as for TED, DOC, interbank transfers, bank slip and credit card.

“Customers will be able to reduce or increase their limits with immediate effect in the event of a reduction, but with responses within 24 hours or 48 hours after ordering in the event of an increase,” stated João Manoel Pinho.

Register an account

Users can also pre-register to receive Pix accounts above the set limit, allowing them to keep other transaction restrictions at a low level. Pre-registered accounts on digital channels will have a minimum period of 24 hours to become effective, avoiding immediate registration in dangerous situations.

Fraud reduction

In order to combat the number of frauds, it will be mandatory for financial institutions that comply with PIX, which include in the Directory of Transaction Account Identifier (DICT) information of accounts that have evidence of fraud in the use of PIX and others. Payment transactions and banking services. The mechanism is already in place, however, even then, the same thing happened on an optional basis.