All you need to do is supply Pix's digital wallet to send and receive money
New tool provides lower transaction costs
From 16 November, Brazilians will have a new system of instant payments to perform their banking transactions: the Pix. The program, launched by the Central Bank (BC), will be free for individuals and will operate 24 hours a day. The objective of the project is to reduce payment time between establishments with accounts at different banks and institutions. The registration of Pix Keys - combined with mobile phone, CPF, CNPJ and e-mail required to operate the digital wallet - will begin on Monday, October 5.
The Electronic Transfer Available (TED) will take up to two hours to be cleared, and the Credit Order Document (DOC), settled the following business day.
More than 900 financial institutions are in the process of adhering to the technology.
Among the institutions that have already started the registration are: Itaú Unibanco, Nubank, Bradesco, Santander, Banco Inter and Banco Original.
The Central Bank has also announced that from the second quarter of 2021 it will be possible to make withdrawals from shops using the Pix. The idea is to make the transaction only with the QR Code or the key registered in the digital wallet.
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