New system of free bank transfers should start operating in November, with a limit on transactions, to reduce risks
30/09/2020 – 18h30
After concerns expressed by banks to the regulator regarding possible fraud, the Pix instant payment system, which opens in November, will be launched with the possibility of a limit on transactions. The positive signal from the Central Bank in relation to this demand occurred last Friday. The hammer was thus hit that the limit will be the same as for debit transactions.
“We discussed a lot with the Central Bank. Everywhere in the world it has limitations and, in principle, it would not have it here. Whenever you start an instant payment system there is a risk of fraud, and not having a limitation was a major concern “, said today the director of SME and open banking strategies at Itaú Unibanco, Carlos Eduardo Peyser, in a seminar on Pix, organized for journalists. The BC thus established that the Pix limit should be the same as “equivalent transactions”.
Read also: See questions and answers about Pix, new transfer service
According to Peyser, at first, one could imagine, according to him, that the closest operations are DOCs and TEDs, but these do not operate outside business hours, he pointed out, so they would not be a good comparison in terms of security. Therefore, the conclusion was that the debt would be a more appropriate equivalent.
However, a reduction in value is a possibility and will be at the discretion of each participant, not least because there are those, such as wallets that do not have a debit transaction. The limit for Pix’s operation between banks, in turn, will not be the same, since each has a different limit. For banks that have a different ceiling for using overnight debts, for example, Pix’s limits may accompany this change. It is worth remembering that according to what was established by the Central Bank, the Pix operation limit cannot be lower than the debit limit.
Itaú’s Corporate Security director, Adriano Volpini, said that this limit is not “immutable” and that it can be changed as the system, people and technology evolve. “It is almost obvious that we will have an advance in these offers from the channel to the customer. But the limit today is aimed more at preserving people and the payment system itself than at actually limiting losses. Banks have important experience and resilience for this type of problem, “he said.
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