Brazil: Pix transactions changes come into effect; know what they are

A series of changes to the Pix begin to apply this Monday (2). They were made by the Brazilian Central Bank and had been announced in early December 2022. Check out what they are:

1 – End of limit per transaction: Pix no longer has a limit per transaction. With this, the value limits will be maintained only by period: daytime (6am to 8pm) or nighttime (8pm to 6am). With the change, the customer will be able to transfer the entire limit of a period (day or night) in just one Pix transaction or do it several times, at the discretion of the account holder.

2 – Pix Withdrawal and Pix Swap: The Central Bank raised the limit for cash withdrawals through the “Pix Saque” and “Pix Troco” modalities. The maximum amount increased from R$500 to R$3,000 during the day and from R$100 to R$1,000 at night.

The rules for the client to customize Pix limits have not changed. It is worth noting that financial institutions will have 24 to 48 hours to comply with the increase in limits, but must immediately accept requests for reductions.

3 – Night period: The client will be able to choose the time of the night period, in which the transfer limit is lower. It can remain as it was, from 8 pm to 6 am the next day, or it can be changed from 10 pm to 6 am the next day.

4 – Transfers to legal entities: The limit for transfers to legal entities accounts was withdrawn by the Central Bank and now each financial institution will define what the maximum amount will be.

5 – Shopping: Another change in Pix is that Pix operations for purchases will have limits equal to the Available Electronic Transfer (TED). Previously, they were tied to debit card limits.

6 – Retirements and pensions: The National Treasury will be able to pay salaries to civil service, and also benefits – such as retirements and pensions – through Pix. With the change, payment can be made to the salary account associated with Pix.

7 – Bank correspondents: The Central Bank will also facilitate the receipt of resources by bank correspondents through Pix. According to Agência Brasil, each bank correspondent may have an account in their name to transfer amounts related to the provision of services. But this account will only have to be used to receive resources.

With information from Central Bank, Agência Brasil and Gazeta do Povo