BC creates new time range for nighttime limit of R$1,000 on Pix

BC (Central Bank) created a new time band for the night period on Pix and other digital transfer channels between people, when the default limit should be R$1,000. With the change, published on Friday (19), the customer will be able to choose between 8:00 pm and 6:00 am, which is the standard, and between 10:00 pm and 6:00 am.

All institutions participating in Pix must include the new time slot by July 29, 2022.

Before, BC had established that the night period was from 8:00 pm to 6:00 am, but with the possibility of adjustment by the user. Now he can only choose between the two time bands.

The change was made to facilitate the operationalization of time bands.

The nightly limit value can still be modified by the customer, either up or down, as needed, but not by the bank’s initiative. By default, everyone who opens an account at a financial institution will have R$1,000 for operations between 8:00 pm and 6:00 am initially.

The measure, which came into effect on October 4, also applies to TED (Available Electronic Transfer) and debit card when used to make a transfer, with WhatsApp Pay, for example.

The goal is to increase security and reduce the vulnerability of systems to criminal actions.

In operations carried out during the day, the rule remains that the limit offered for the Pix must be the same as the TED, which can also be modified by the client.

In addition to the night limit, in September the BC established a minimum period of 24 hours for the execution of a user’s request, made through a digital channel, to increase the transaction limits with Pix, TED, DOC (Credit Order Document), transfers bank, bank slip and debit card.

This way, if the customer asks for a limit increase, the bank can only release the change the next day. The autarchy stated that the measure aims to prevent the immediate increase in the value at risk.

Since the launch of Pix in November of last year, criminals have taken advantage of the ease and speed of the instant payment system to apply scams or to ask the victim to transfer large amounts during robberies or kidnappings.

Bandits often use so-called orange bills, which are rented or borrowed, to receive the money, in addition to spreading it to others, which makes it difficult for the police to track down the amounts and dismantle the gangs.

To increase security in operations with Pix, BC announced a series of changes in the payment system rules.

On Pix’s birthday, last Tuesday (16), the system also includes other security measures. The special return mechanism began to apply, which allows the bank to revert amounts to the payer’s account in cases of fraud or operational failure.

The return of funds can be requested either by the institution of the recipient or by the payer.

According to the autarchy, the objective is to accelerate the reversal process when there is fraud and/or failure. The transaction will appear in the statement of transactions.

In addition, the possibility for the bank to retain a suspicious operation on Pix for up to 72 hours for analysis and the mandatory notification of infringement, which was previously optional, also come into effect this Tuesday.

The notification works as a mark on the Pix key made by the bank, on the user’s CPF or CNPJ and on the account number, when fraud is found. This information will be shared with other institutions whenever there is a consultation. With that, the BC hopes that the orange accounts can be identified.