Using Pix for Brazil’s Black Friday shopping: Check the night time limits
RIO DE JANEIRO, BRAZIL – Black Friday takes place this week and the Pix is currently offered as a payment method in many online stores, including at discounted prices.
However, consumers should be aware of the limits set by the Central Bank (BC) for night time purchases.
Those who wish to make purchases between 8 PM and 6 AM using Pix have a limit of R$1,000 (US$180) automatically set by the institution where they hold their account.
This measure is part of a number of actions taken by the Central Bank to prevent fraud and scams using the tool.
This limit may be changed by the customer through the bank’s app or online, but there is a caveat: financial institutions have between 1 and 2 days to grant the request.
Customers will also be able to customize the night period start time, during which the limit will apply.
The Central Bank recently introduced the option for the night period to begin at 10 PM and end at 6 AM, based on the customer’s preference. The change should be implemented by July 22, 2022.
In addition to this measure, the Pix also includes some other new features to prevent scams and fraud, such as the precautionary blockade, in which the financial institution can block resources for up to 72 hours in cases of suspected fraud.
The Special Refund Tool has also been introduced and facilitates the return of amounts transacted in case of suspected fraud or operational failure.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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