New rules for the PIX instant payment system were announced by the Central Bank and started to apply Monday (2). Under the new rules, banks are no longer required to impose an amount limit per transaction and are only required to determine a limit per period of time. Thus, those who have a daily limit of R$3,000, for example, can use it all in a single transaction.
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Limit change
The rules for customers to request changes to the limit are the same: if the customer asks for a reduction, the bank must reduce it immediately; if the request is for an increase, it must be authorized between 24h and 48h. When the user is a legal entity, the parameters for defining transaction limits are left to the discretion of the bank.
Nighttime
Another change was related to night hours: it becomes optional for banks to offer customization of different night hours, for which the customer can request a lower limit for their transactions. Normally, the nighttime is between 20:00 and 06:00, but banks will be able to offer customers the possibility to change this time to between 22:00 and 06:00.
PIX Withdrawal and PIX Exchange
Another novelty is the increase in the limit value for withdrawing money through PIX Withdrawal and PIX Exchange. The limit during the day goes from R$500 to R$3,000. And overnight, it goes from R$100 to R$1,000.
Our Analysis
For security reasons, users should keep the Pix limit low and, on particular occasions, when it is necessary to increase it, schedule it in advance.The changes increase flexibility, so if it is necessary to make a larger transfer, it will be possible to do that with ease. However, this increase in freedom can have negative consequences, which is related to the possibility of greater impacts in case of frauds, express kidnappings, and robberies/thefts of cell phones with further invasion of bank accounts. There are many crimes that exploit the Pix, thus the possibility of rising the volume of money lost increases proportionally the risks.
