PIX Withdrawal and PIX Change – Everything You Need to Know About the New PIX Modes

PIX Saque e PIX Troco - STWBrasil

PIX was created with the goal of speeding up financial transactions. Before the implementation of the system by the Central Bank, in November 2020, financial transfers between institutions were limited to DOC and TED modes, in which transfers of values between institutions do not occur immediately.

The arrival of PIX changed this scenario. The system allows banking transactions to be carried out immediately 24 hours a day, 7 days a week. Coupled with the fact that in most financial institutions PIX is not charged, it soon became a success, being increasingly used in everyday life.

With the great acceptance of the Brazilian population to the new transfer system, the Central Bank recently announced the arrival of two new modes for the system: PIX Withdrawal and PIX Change, which will be valid from November 29, 2021.

Want to better understand how these novelties will work and clear up the main doubts about them? Come with STWBrasil and we’ll tell you everything you need to know about PIX Withdrawal and PIX Change.

Getting to Know the New PIX Modes: PIX Withdrawal and PIX Change

Understanding the new PIX modes, which will be valid at the end of November 2021, PIX Withdrawal and PIX Change, is essential so that you can make the best use of these options, with all security.

Check below how each of the modes will work.

PIX Withdrawal

Who is older must remember that until a few decades ago, it was common to request the exchange of checks in commercial establishments for paper money. It was a kind of informal withdrawal, based on trust, widely used at a time when physical money was still the main form of payment and there were few ATMs.

PIX Withdrawal is a rescue of this practice using technology to formalize and bring security to these transactions.

How it will work in practice

It will work like this: anyone can go to an establishment that adheres to the program, make the transfer via PIX through the merchant’s code, and receive the amount in paper money.

This transaction fits into the same ATM withdrawal rules for charging fees. That is, up to eight withdrawals per month, in any modality, there is no charge for fees on the operation – for individuals.

For the citizen, PIX Withdrawal is a facilitator, which allows them to have physical money even if they are far from an ATM. For commercial establishments, the program allows operating with less paper money in cash, which makes these places less attractive to criminals, in addition to guaranteeing cashback for each transaction carried out.

Yes! By adhering to PIX Withdrawal, the merchant increases the security of their business and still receives financial compensation for the intermediation service. These values are not defined by the Central Bank and must be negotiated directly with the merchant’s bank.

PIX Change

PIX Change works similarly to the withdrawal modality, with the difference that here the individual makes the purchase of a product in the establishment, transfers via PIX an amount above the one designated by the merchant, and receives the difference in cash.

Despite the similarity between the modalities, it is important to reinforce that these are different transactions from each other and must be carried out in the specific tools of each of them.

Main Doubts About PIX Withdrawal and PIX Change

  • Can merchants choose to participate in only one of the modalities or only both together?

The Central Bank provides that commercial establishments can choose to adhere to PIX Withdrawal, PIX Change, both, or neither.

  • What is the daily limit for these transactions?

For security reasons, the Central Bank limited PIX Withdrawal and PIX Change transactions to a maximum amount of R$ 500.00 per day. In addition, after 8 pm, the withdrawal amount is limited to R$ 100.00.

  • Can these established limits be changed by the shopkeeper?

Yes. Although it is not possible to increase this limit, the Central Bank gives the shopkeeper the possibility to reduce these amounts.

Will store owners want to take money out of their cash register?

This is a question without a single answer, as the decision is individual and non-transferable. However, for many, it is interesting to work with less money in cash for security reasons. In addition, cashback is an incentive to join.

  • Does the merchant need to increase the cash in the cash register to serve PIX Change and PIX Withdrawal?

No. No establishment is obliged to adhere to PIX Withdrawal or PIX Change.

  • If my PIX Withdrawal or PIX Change is used by criminals, is the bank obliged to reimburse this amount?

There is still no understanding of this issue. Today, however, victims of cell phone robberies who prove that the criminals used the device to make transfers via PIX have been able to recover amounts from their financial institution.

Still have doubts about PIX Withdrawal and/or PIX Change?

And you? Do you have any doubts about PIX Withdrawal or PIX Change? Tell us on STWBrasil’s social networks that until November 29th we will talk more about this topic so that you can enjoy all the convenience of the solutions with maximum security.

See you next time!

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