BC defines when the bank may charge you to make a PIX

A resolution published this Thursday (1st) by the Central Bank defined that the rates of PIX, Brazil’s new instantaneous payment service, will be free for individuals and individual entrepreneurs.

In the case of legal entities, as disclosed by the Central Bank, the financial and payment institutions that offer Pix may charge fees from both the paying customer and the recipient. In addition, in order to enable the emergence of new business models, fees may be charged for the provision of services added to the payment transaction.

The resolution prohibits the collection of fees by the institution that holds the deposit account or prepaid payment in the following cases: sending of funds, for the purpose of transfer and purchase and receipt of funds, for the purpose of transfer.

In cases of telephone calls, for example, fees may be charged.

Cost PIX

The same document also sets out the cases in which there is a charge. In addition to the external service, fees will also be paid by those who receive payments via PIX from the sale of a product or service provided.

In the case of legal entities, says the note from the Central Bank, financial and payment institutions that offer Pix may charge fees from both the paying customer and the recipient. In addition, in order to enable new business models to emerge, fees may be charged for the provision of services added to the payment transaction.

Additional rules will be edited to detail some issues.

The Central Bank resolution also allows institutions that provide payment transaction initiation services to charge fees for the service. However, if the initiator of the payment and the holder of the payer’s account are the same institution, charging is prohibited.

In both Pix and the payment initiation service, the fees can be freely defined by the institutions, informing customers of the fees charged.