The new rules for Pix, released by BC (Central Bank) in early December, begin to apply this Monday (2). From now on, the value limits are per day period, no longer per transfer, and there are changes in the maximum values of Pix Loot and Pix Change.
More news is planned for 2023, such as improvements in the security of the transfer tool and pilot tests of the digital real, the Brazilian cryptocurrency that the BC intends to launch in 2024.
Transaction limit changes
Banks and other financial institutions are no longer required to impose an amount limit per transaction via Pix. The limit per period, however, remains. In practice, the customer will be able to make a single transaction in the amount of his daily limit.
Before, a user who had BRL 500 as the maximum amount allowed per transaction and a BRL 1,000 limit in the period, for example, would need to make at least two transfers if he wanted to transfer any amount between BRL 500 and BRL 1,000 in the same shift . With the change, this customer can carry out a single operation in the desired amount, as long as it respects the ceiling of R$ 1,000.
There is still the possibility of differentiating the limit of the daytime period and that of the nighttime period.
Change in the night period
As a rule, the night shift starts at 8 pm and runs until 6 am the next day. Now financial institutions will be able to offer a new schedule for this reduced shift: from 10 pm to 6 am the next day.
The difference between night and day time is the transaction limit. During the day, the maximum amount that can be transferred is equal to the limit available for TED (Available Electronic Transfer). At night, the maximum value is R$ 1,000. These amounts can be changed if the customer requests it.
New Pix Saque and Pix Troco limits
Launched in November 2021, Pix’s change and withdrawal tools allow the customer to receive an amount transferred by Pix in kind and get change, also in cash, after paying extra for the product or service purchased.
Both Pix Saque and Pix Troco had their daytime limit changed from R$500 to R$3,000; the night went from R$100 to R$1,000.
Limit changes
There is nothing new in this topic. The rules for increasing or decreasing the maximum transfer amounts at the request of customers are the same: requests for limit reduction must be accepted immediately by the banks, while those for expansion, if approved, may take 24 to 48 hours after the solicitation.
limit management
Financial institutions will be required to establish functionalities for managing limits through applications or digital channels. Among them is the possibility for the user to request an increase or reduction of the limits per period. This is the only change that will start on July 3rd of this year.
What to do in cases of coup
According to the BC, when identifying that you have been the victim of a scam or fraud, the orientation is to contact your bank or the bank of the alleged scammer to try to reimburse you. Then go to the police to file a police report.
It is up to the payment service provider to analyze the case of fraud and the possible reimbursement, as is the case today in bank fraud. If the situation is not resolved, the orientation is to seek the Procon or the Judiciary of the state.
The citizen can also file a complaint with the BC against the institution where he or the scammer has an account.
How to ask for money back
It is possible to recover the money after being the victim of a scam involving Pix, according to BC. In November 2021, the MED (Special Return Mechanism) came into force, an instrument that allows you to recover money from the destination account and return it to the source account when a case of fraud is found.
In this type of situation, it is necessary to register an incident report and immediately notify the banking institution through the official service channel, such as SAC or ombudsman. In bank apps, there is a direct link to the channel to be used to register the complaint in the Pix environment.
The victim’s bank, in turn, will use Pix’s infrastructure to notify the institution receiving the transfer, so that the resources are blocked.
After the block, both the payer’s institution and that of the possible scammer/fraudster have up to seven days to carry out a more robust analysis of the case to make sure that it is indeed a fraud. If the scam is proven, the institution where the operation was carried out returns the funds to the victim’s account.
The Special Return Mechanism may also be triggered if there is an undue credit due to an operational failure in the systems of the institution involved.
The Central Bank informs that the mechanism does not apply in the following cases: user made a Pix by mistake, for example, typing the wrong key; commercial disputes between users; transactions with well-founded suspicion of fraud in which the funds are allocated to the transactional account of a bona fide third party.
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