In November 2020, the Central Bank revolutionized the financial market with the launch of Pix, an instant payment system. And on the 1st, Thursday, the Central Bank announced changes to the rules on value limits for transactions carried out through Pix. The changes should take place in January 2023.

According to the Central Bank, the changes aim to simplify the rules and improve the user experience. This without compromising the tool’s high level of security.

See below what changes with the new Pix rules:

According to the new rules, banking institutions no longer need to impose a value per transaction. On the other hand, institutions are required to determine a limit per period of time. Thus, anyone who has a daily limit of R$ 3 thousand can use the entire amount in a single transaction.

Furthermore, the rules for requesting a change in the limit are the same: in cases where the customer requests a reduction in the limit, the bank must reduce it immediately. Meanwhile, the institution has a period of between 24 and 48 hours to increase the limit in case of a request.

Furthermore, when the user is a legal entity, the parameters for defining transaction limits are at the discretion of the banks. The basis for determining the limits when Pix is used for purchases becomes the limit that the customer has for TED, and no longer on the debit card.

It is now optional for the bank to make a customized offer for different night hours, for which the customer can request a lower limit for transactions.

In general, night time is between 8pm and 6am. However, banks can offer their customers the possibility of changing the opening hours to between 10pm and 6am.

Another change is the increase in the limit amount for withdrawing money through Pix Saque and Pix Troco.

According to the Central Bank, the changes aim to facilitate the receipt of funds by bank correspondents, as is already the case in lottery outlets. Furthermore, the rules seek to enable the payment of salaries, pensions and retirement benefits by the National Treasury through the system.

The new Central Bank rules will come into effect on January 2, 2023. With the exception of adjustments made to the management of limits for customers through digital channels, which will come into effect on June 3, 2023.

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