The popularity of Pix in Brazil, a payment method launched by the central bank in 2020, has grown significantly, with a large percentage of Brazilians using this type of instant money transfer.
Will Pix start charging for transfers?
However, in 2023, recurring doubts have arisen: will the central bank start charging fees for BEX transfers? According to data from February, Pix became the most popular payment method in Brazil in 2022. The mass adoption of this service is due to its speed, practicality and especially the free service for individuals.
In what cases will fees be charged?
But although it is free for most transactions, there are cases in which fees are incurred, according to the rules set by the Central Bank, such as receiving money for the purpose of purchase and sending money – for the purpose of withdrawal or change – from the ninth transaction in a month. It is worth noting that each banking institution may have its own fee policy, making it important for users to check these terms with their bank.
When can BEX be taxed?
According to Bacen's official statement, the current rates are applied to Pix only in the context of commercial relationships.
When the payer/recipient Legal entitiesShipping takes place at the following times:
- Transfers via QR code or dynamic QR code
- Transfers using any key after image 31
- Receiving value from a business account.
Pix will remain free
Despite this debate, the central bank has already taken a position ensuring that Pix is free for individuals, except in the cases mentioned above.
What are the features of Pix?
Fast transactions, 24-hour availability, free use for most transactions, and versatility are among the main advantages of Pix. The service allows transfers between people, paying bills, making purchases, and even receiving wages.
Fees on pix
In conclusion, despite speculation about the possibility of the central bank starting to charge fees for the use of BIX, the free service for individuals in its main operations remains guaranteed. The few fees that exist only apply in specific cases. This way, Brazilians can continue to use Pix for free, enjoying the practicality and speed that the service offers.
What to expect from the new PIX Automatic, promised in October 2024
Brazil's digital payment transit vehicle, PIX, reached an impressive milestone in 2023: it handled a total of R$16.9 trillion, a significant increase compared to R$10.9 trillion the previous year. Moreover, there are 145 million individuals already registered with this service, which represents about two-thirds of the Brazilian population. This information is published by the Central Bank.
How will automatic PIX technology work?
For 2024, the central bank promises to expand the PIX further. One of the new features is the launch of PIX Automatic scheduled for October 28. This function will work in a similar way to automatically debiting your account. This means that users will be able to allow recurring monthly payments without having to directly intervene in each transaction. Businesses from various sectors will be able to benefit from PIX Automatic. Among them are operators of public services, credit institutions, schools, gyms, residential units and broadcasting services.
What will the licensing be like for PIX Automatic?
According to the Central Bank, the authorization for the first automatic debit of PIX can be implemented in several ways. Users will be able to authorize payment by reading the QR code, using the “PIX Copia e Cola” function or through the payment indicator. It is worth noting that the service must be free to the consumer. However, as with traditional PIX, businesses may be taxed when receiving payments via PIX Automatic.
What changed in the automatic PIX schedule?
Initially, the PIX Automatic was scheduled to be launched in April this year. However, there has been a postponement, and the new expectations are that the service will go into operation in October 2024. It is important to highlight that, even with the postponement, PIX Automático represents a significant advance in the provision of digital financial services in Brazil. . Moreover, its implementation promises to bring more practicality and security to the daily financial transactions of millions of Brazilians. In conclusion, it is expected that the PIX tool will continue its expansion, and with the launch of PIX Automatic, it will reach new levels of popularity and usage among the Brazilian population.
Final considerations
It is always important to remember to check the pricing policy of your bank, as there may be differences regarding the terms mentioned. Pix is an innovation that came to facilitate financial transactions, providing more flexibility and convenience to Brazilians. Take advantage of the advantages of this service and enjoy all its features without worrying about additional fees.
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