The PIX instant payment system has new rules for 2023. With the aim of simplifying use and improving the customer experience, the Central Bank of Brazil changed the transaction value limit and proposed making the modality's nighttime hours more flexible.
Like this, banking institutions are no longer required to impose value limits for daily PIX. The obligation only remains necessary when the limit is for a certain period of time. But, now, Anyone who has a daily limit “x” will be able to use the full amount in a single transaction.
Another change that will facilitate the usability of the payment method is the nighttime hours for transactions.. The new rules allow banks the option to customize these hours, as it currently operates from 8pm to 6am.
Now, It will be up to the financial institution to also offer the option of 10pm to 6am for its customers. The changes are already valid throughout Brazil and came into force this Monday, 02 January of 2023, to follow the growth of the payment method that at the end of last year was already used by 54% of the Brazilian population.
Legal entities and PIX Withdrawal and Change
Limit changes may not apply to legal entities. In these cases, it will be up to the bank to define a parameter to define the limits for each customer. What changes is that now this value will be based on what the customer has in TED and no longer on the credit card limit..
The new rules also brought changes regarding PIX Saque and PIX Troco. Until December, withdrawal amounts were R$ 500 reais during the day and R$ 100 at night. Nonetheless, now, the value rose to R$ 3 thousand and R$ 1 mil, respectively.
Treasury Direct Payments
Changes to the system were defended as a means to simplify the use of PIX. Nonetheless, the Central Bank of Brazil also stated that the changes will help in receiving resources by banking correspondent, as currently occurs in lotteries.
This will enable the payment of salaries, retirements and pensions linked to the Treasury Direct by modality. These updates to the PIX system were announced by the Central Bank of Brazil at the beginning of last month.
