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Transfers via DOC and TEC will be permanently closed this Thursday |  Economy

Transfers via DOC and TEC will be permanently closed this Thursday | Economy

61% of Brazilians use payments via PIX, according to the central bank. — Photo: Giovanni Oliveira/SEMUC PMBV

The DOC (Credit Application Document) transfer system, one of the most traditional means of bank payments for decades, was permanently closed this Thursday (29), by the Brazilian Banking Federation (Febraban).

Banks were able to offer the method until January 15, with transfers able to be scheduled until Thursday 29.

In addition to DOC, institutions have also stopped offering private credit transfer (TEC), processes carried out exclusively by companies to pay benefits to employees.

The maximum value allowed for any transaction via DOC or TEC is 4,999.99 Brazilian real. No changes to TED (Direct Electronic Transfer) operations have been announced.

At DOC, the operations were carried out one day after the bank received the transfer order. In TEC, the transfer was made, at most, by the end of the day on which the order was placed.

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“TEC and DOC are no longer the first choice of customers, and their use has been steadily declining in recent years. Customers have given preference to PIX, both because it is free and instant and also because of the transactable value,” says Walter Faria, Deputy Director of Services at Febraban. .

A survey conducted by the organization shows that DOC was not even among the top five payment methods used in 2023. The preference was for PIX, followed by credit cards and debit cards.

See the rating of the most used models:

Learn how to protect yourself from scams on PIX