Economy

Brazilian Central Bank increases limit for transfers and payments via PIX

It will be possible to pay or transfer larger amounts via PIX; the amount varies according to the customer

PIX, Brazil's instant payments system logo, on a smartphone screen. Photo: Shutterstock.

01.Mar.2021 10:30 BRT
UPDATED 12:04 BRT

Brazilians will be able to handle more money via PIX, the Brazilian Central Bank’s instant payment system. The Central Bank increased the amounts allowed for transfers and payments via PIX this Monday 1st, a change that had already been planned since the launch of the PIX.

According to the Central Bank, the limit is not the same for all customers – the amount released for transfers and payments varies according to each customer.

In addition, banks also have the autonomy to establish limits, however the minimum amount allowed must be equal to the TED (traditional bank transfers in Brazil) or equal to the purchase limit for each customer’s debit card.

To find out how much money can be handled via PIX, the user can consult the limit in the bank’s app or consult directly with the bank’s call center.

About PIX

PIX is Brazil’s new instant payment and bank transfer system officially launched on November 16. In just over three months of operation, an FGV/Toluna survey found that 77.65% of Brazilians have already registered a key (a kind of a PIX user registration) to use the system.

According to the Brazilians surveyed, the transfer of resources to individuals is the main utility of PIX (78.7%), while 55.37% cited payment for services as the main use.