On Thursday (2), the Central Bank regulated two new modalities of the PIX: the PIX withdrawal – which will allow cash withdrawals from commercial establishments – and the PIX Change – which will also allow the withdrawal, but associated with a purchase or provision of a service.
The new services will be available from November 29th.
All people who have an account at one of the institutions participating in the PIX will be able to use the new services, informed the Central Bank. will be eight free trades per month in this new modalities for individuals.
Currently, PIX only allows instant payments and transfers across the country between individuals, businesses and government 24 hours a day, seven days a week.
O maximum transaction limit PIX Saque and PIX Troco will be R$ 500.00 during the day, and R$ 100.00 at night (from 8 pm to 6 am), according to the Central Bank.
There will, however, be freedom for the offerers of new PIX products to work with limits lower than these values if they consider it more suitable for their purposes.
Pix is already the second most used payment method in Brazil
O PIX withdrawal will work like this:
- The customer goes to the commercial establishment and other withdrawal agents who offer PIX Saque.
- The customer makes a PIX by reading a QR Code shown to the customer, or from the service provider’s application.
- After payment authentication, the customer receives the transfer amount in cash.
The PIX Exchange will work in a similar way.. The difference is that the withdrawal of resources in kind can be carried out during the payment of a purchase to the establishment. In this case, the PIX is made for the full amount (purchase + withdrawal).
On the customer’s statement, the amount corresponding to the withdrawal and the purchase amount will appear. For example, the customer buys a product for R$100, makes a PIX for R$150 and receives R$50 in cash.
New modalities may be offered:
- commercial establishments
- financial institutions with their own ATM network
- self-service terminals such as 24-hour boxes
- entities that offer ATM independent (shared) network
“Offering the two new products on the PIX evolutionary agenda to users of the tool is optional, and the final decision is up to commercial establishments, companies owning ATM networks and financial institutions that have their own ATMs,” stated the Central Bank in note.
Central Bank Announces New Rules to Increase PIX Security
The institution claims that, with the new services, citizens will have more options to access physical money when they wish, as withdrawals can be made in different places (bakeries, department stores, supermarkets, etc.), and not just in ATMs.
For businesses that make the service available, the operations of PIX Saque and PIX Troco will represent the receipt of a fee that can vary from R$ 0.25 to R$ 0.95 per transaction, depending on the negotiation with their institution of relationship, informed the Central Bank.
The drawing user’s relationship institution is the one who will pay this fee.
“The offer of the service will reduce the costs of establishments with cash management, such as those related to security and deposits, in addition to enabling establishments to gain more visibility for their products and services (“showcase effect”)”, says the Central Bank .