Among the changes is the R$1,000 limit for transactions made from 8:00 pm to 6:00 am; action seeks to curb the use of instant payments system to apply financial scams
The new rules for transfers with the Pix, instant payment system, start to take effect this Monday, 4. The main change instituted by central bank is the limit of R$1,000 for transactions made from 8:00 pm to 6:00 am, an amount that is also valid for Electronic Transfer Available (TED) and for purchases with a debit card. The limitation covers accounts of individuals and individual micro-entrepreneurs (MEIs). The purpose of the change is to curb cases of lightning kidnapping, made for the application of financial scams and for transferring funds between victim and criminal accounts using Pix. Another security measure that comes into effect is the deadline for extending the limit for late-night payments. To change the R$1,000 ceiling imposed by the Central Bank, Pix users must contact the responsible financial institution and request the change, but approval must only take place after a 24-hour to 48-hour period.
The third – and last – change valid as of this Monday is the possibility for customers to previously register contacts who can receive payments through Pix with amounts above R$ 1 thousand at any time, including during the restriction period. For the change to be valid, it will also be necessary to wait for 24 hours. On November 16, a new set of rules will come into effect, also imposed by the Central Bank, such as the blocking of transactions considered suspicious by the receiving bank, new criteria for confirming operations and greater responsibility for institutions for payments made. According to the BC, banks will be held responsible “for fraud arising from failures in their own risk management mechanisms.”