What is PIX?
PIX is the instant payment system created by the Banco Central in 2020. It allows you to transfer money in up to 10 seconds, 24 hours a day, 7 days a week — including holidays. It’s free for individuals.
How does it work?
- You register a “PIX key” (CPF, email, phone number or random key)
- To receive, just provide your key
- To pay, use the recipient’s key or QR Code
- The money is transferred immediately
Advantages
- Free for individuals
- Instant (10 seconds)
- Works 24/7
- Replaces TED, DOC, and boleto
- Can pay in physical and online stores
Security
- Nighttime limit (8pm-6am): R$ 1,000 (default, can be changed)
- Special Refund Mechanism (MED) for fraud
- Password/biometric authentication in the bank’s app
- Can block suspicious keys
Security Tips
- Never share passwords or verification codes
- Be wary of PIX requests via WhatsApp (common scam)
- Set a low nighttime limit
- Use a random key for unknown recipients (not CPF)
- Activate transaction notifications
PIX and financial control
PIX makes it easier to track expenses because all transactions are recorded in the statement. Apps like FinMoovi automatically categorize your PIX transactions so you know exactly where your money is going.