Pix’s nightly transfer limit goes into effect on Oct 4 – News

O limit of BRL 1,000 for overnight transfers, between 8 pm and 6 am, carried out through Pix will come into effect from October 4th. The measure is part of a resolution approved by the BC (Central Bank) on Thursday (23) to prevent fraud in the provision of payment services.

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The nightly transfer limit can be changed at the client’s request, formalized in the electronic service channels, but the institution must establish a minimum period of 24 hours for the increase to be effected.

The measures had been announced on 27 August. According to the BC, actions related to the establishment of limits on the provision of services should be implemented by October 4th.

Resolution approved by the autarchy also established that by November 16, institutions must start preparing monthly reports with the compilation of daily records of fraud occurrences or fraud attempts in the provision of payment services and corrective measures adopted.

These reports must be forwarded to the audit and risk committees, the internal audit, the Executive Board and the Board of Directors, if any.

The new measures to increase the security of payment services come after a series of reports regarding the rise of crimes, including lightning kidnappings, after the advent of Pix, which allows immediate transfers made seven days a week and anytime.

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