February 5, 2023

Will the DOC transfers end in Brazil? understand the situation

Itaú has already announced the end of transfers via DOC. But will other banks do the same and will this be the end of the method? paying off!

After Itaú announced the end of DOC transfers for corporate clients, speculation grew about the end of the method in another way banks.

the Service interruption by Itaú It really started in 2022, when the bank chose to deactivate transfers via DOC for individual account holders.

Although the Brazilian Federation of Banks (FIBRABAN) states that it is considering the end of the DOC, there is no definition of the topic. Therefore, check out what his future is and how the job can be replaced.

The Pix effect is responsible for the low conversions across DOC

since launch pixIn 2020, it has quickly become the preferred method for bank users. This is because, unlike DOC or TED transfers, it costs less and is much faster.

In the case of DOC, the transfer takes until the next day to happen. In contrast, TED is held on the same day, if it is held before 5 p.m. to me The latest data from the central bank, Pix leads the transfer market with a share of 27.1%. After that comes credit19.7%, and debtor 18.7%.

Remittances via DOC decreased from R$9 billion to R$6.7 billion in the last year alone.

Just by comparison, in the same period, Pix totaled R$934 billion and TED, R$3.4 trillion. That is, transfers through DOC are 140 times smaller.

The trend in the financial market: is this the end of the DOC?

According to a technology website Sky onePix revolution, when it comes to financial transactions, will change the reality in Brazil. In other words, it could potentially replace transactions via DOC, TED, and even bank slips.

In addition, payments via QRCode have already started a computing process that allows Pix to be used to pay the bill instantly. Soon, waiting to make the transfer will get old.

Other major banks such as Santander, BradescoAnd the can And the Bank of Brazil They still have the option to port via DOC, but they will definitely adapt to the new market. after every thing , financial technology And digital enterprises do not even have this method since their inception.

The only doubt, really, is how long it will be before payment via Pix becomes a method that covers all of these methods.

Photo: fizkes / shutterstock.com