The instant transfer system in effect since November 2020, Pix enters 2023 with new rules. As of today (2), the individual limit per transaction ceases to exist, the nightly schedule will be customized and the values of the modes Pix Withdrawal and Pix Change will increase.
The changes had been announced by the Central Bank (BC) in early December. According to the monetary authority, the new rules will offer more security and flexibility to the payment mechanism, which hit a record of 104.1 million transactions per day with the payment of the second parcel of the Christmas bonus on December 20.
According to the Central Bank, the suggestion to abolish the limit per transaction was made in September by the Pix Forum, a working group coordinated by the agency and secretariat by the Brazilian Federation of Banks (Febraban), which brings together the institutions participating in Pix. According to the group, the maximum amount per transaction was not very effective because the user can make several operations for the value of the limit, provided it respects the amount fixed for the day or night period.
Check out the changes
End of limit per transaction
- As of today, Pix no longer has an individual limit per transaction, but only daily limits per period (day or night). This way, the customer can transfer the entire limit for the period at once, or do so in several tranches. The rules for customers to customize Pix limits have not changed. Financial institutions will have 24 to 48 hours to accept the extension of limits and must accept reduction requests immediately.
Relaxation of the night time limit
- Until now, the night period, in which the transfer limits are lower, started at 8 pm and went on until 6 am the next day. With the change, the account holder can choose whether the night period will begin at 10 pm and end at 6 am.
Pix Withdrawal and Exchange
- Increase in the amounts available in the modalities. Until now, it was possible to withdraw or receive as change R$ 500 via Pix during the day and R$ 100 at night. The amounts have increased to R$ 3 thousand during the day and R$ 1 thousand at night.
Transfers to companies
- The Central Bank has removed the limit for transfers to corporate accounts via Pix. It will be up to each financial institution to determine the maximum value.
Purchases
- The limits for Pix operations for purchasing purposes will now be the same as for Available Electronic Transfer (TED). Previously they were linked to debit card limits.
Retirements and pensions
- The National Treasury will be able to pay retirements, pensions, and salaries to civil servants through a salary account associated with Pix. Until now, PagTesouro, the system of the National Treasury Secretariat that allows payments through Pix, was only available to receive fees and fines, replacing the Union Collection Form (GRU).
Correspondent banking
- The Central Bank will facilitate the receipt of funds by correspondent banks through Pix. Each correspondent bank will be able to have an account in its name to transfer amounts relating to the provision of services, provided it is used only to receive funds.
All these rules are in effect as of today (2). In the normative instruction issued in December, the Central Bank established that, as of July 3, 2023, financial institutions will be obliged to offer, in the application associated with the Pix, a feature for the customer to manage limits and customize the start of the night shift. Most institutions already offer the feature to users, on an optional basis.