BC launches consultation to allow withdrawals of resources in commerce through Pix

The Central Bank put up for public consultation this Monday (10) the launch of two new services linked to Pix, the Brazilian system of instant payments: Pix Saque and Pix Troco. Through them, it will be possible for Pix users to withdraw funds at commercial establishments or service providers, which expands the options to bank branches and ATMs. The forecast is that the two new tools will start working in the second half.

According to BC, through Saque Pix the user can withdraw funds from their account without any commercial transaction with the establishment. In practice, it will work as a simple withdrawal, similar to that carried out at ATMs. Pix Troca will be associated with a purchase of a product or service. When paying through Pix, the user will be able to forecast a “change” in cash and withdraw the money.

Through a note, the BC informed that the public consultation provides for a maximum withdrawal limit of R$ 500 per day. Each user will have four free withdrawals per month. As of the fifth transaction, financial or payment institutions that have the user’s account will be able to charge a fee per transaction. Until the 9th of June, however, the autarchy will be receiving suggestions in the public consultation over the internet, including in relation to the proposed limits.

According to BC, the two services will expand the possibilities of withdrawals of resources in Brazil, since any commercial establishment or service provider will be able to offer the Saque Pix and the Pix Troco. The autarchy also hopes that there will be an increase in competition and a reduction in costs in withdrawal services. Financial institutions that do not have bank branches or that are not part of ATM networks (Automatic Teller Machines, or ATMs) may use commercial establishments to facilitate customer access to withdrawals, for example.

who will offer
The BC’s public consultation indicates that the Saque Pix and the Pix Troco may be offered by commercial establishments, companies of other types and institutions specialized in the provision of withdrawal services. These companies are considered by the BC as “withdrawal agents”, who may provide the services by entering into a contract with a financial or payment institution. Pix Saque may also be offered by financial institutions through their own ATM networks.

The BC also informed, through a note, that the financial and payment institutions, together with the withdrawal agents, will define the conditions for the provision of services. This means that companies will have the freedom to define whether they want to offer both services or just one of them and whether they will only be available during specific periods (such as working days, for example).

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