Is Pix free at all banks? Are there any fees?
Find out once and for all if Pix is free at all banks!
Announcements
Pix has several features that make it a modern and innovative payment method, but there is a very common question: is Pix free at all banks?
Since November 2020, Brazilians have been able to count on this payment solution, which has revolutionized the way of making transfers and purchases in physical or virtual stores.
However, some transactions may incur costs.
To understand more about the system and find out when fees are charged, continue reading. We will explain everything about the subject.
What is Pix?
Pix is Brazilian instant payment.
Basically, it is a form of transfer designed by Central Bank (BC). The main objective of the service, as the name suggests, is to be instantaneous and work 24 hours a day, 7 days a week.
This means that even during holidays and weekends, people will be able to use Pix to make transfers, make purchases, among others.
When making a transfer via Pix, the other person will receive the amount in a few seconds.
Is Pix free at all banks?
For individuals and individual microentrepreneurs (MEI), Pix is free.
In other words, in these cases, all operations carried out are exempt from fees – except in two situations.
There may be a charge if the funds are received as payment for the sale of a product or service or if the Pix transaction is completed via telephone contact or in person.
For legal entities, sending and receiving fees are set by banks. This means that the Central Bank does not interfere in the fee schedules set by financial institutions.
Therefore, if you are a corporate customer, there is no guarantee of free Pix, as banks choose the fees for transactions.
What are the transfer fees?
Find out what fees financial institutions charge for sending and receiving Pix by legal entities:
• Bank of Brazil: 0.99% on the value of the shipment via Pix, with a minimum fee of R$1 and a maximum of R$ 10. Receipt via QR Code is subject to the same fee, although the maximum limit is R$ 140.
• Itau Unibanco: 1.45% of the transaction value, with a minimum fee of R$ 1.75 and a maximum of R$ 9.60. Payments via Pix using Qr Code are free of charge.
• Bradesco: 1.4% of the transaction value, with a minimum fee of R$ 1.65 and a maximum of R$ 9.
• Santander: 1% of the transaction value, with a minimum fee of R$ 0.50 and a maximum of R$ 10.
• Mercado Pago: The platform does not charge for transfers made by small sellers. However, there are fees for larger networks. In these situations, negotiations are specific.
What are the receiving fees?
• Bank of Brazil: QR Code – 0.99% of the transaction
• Itau Unibanco: QR Code – up to 1,45% of the amount paid
• Bradesco – 1.4% of the transaction value
• Santander – Static or dynamic QR Code: R$ 6.54; QR Code via checkout: 1.4% of the transaction value
Which financial institutions do not charge fees?
There are several banks and financial institutions that do not charge fees to business customers, such as:
• Federal Savings Bank
- C6 Bank
- Inter Bank
• Nubank
- Picpay
• Sicoob
• Neon Bank
- Original Bank
• Linker
How to register for Pix?
Now you know that for individuals (PF), Pix is free at all banks.
But after all, how do you register a Pix key?
First of all, you need to know that Pix is not an application or a product from a specific bank.
It is a payment method launched by the Central Bank.
Therefore, you will not create a Pix or download a specific app to make instant transactions. After all, this payment method must be available in the app of the bank or fintech where you already have an account.
This means that if you are not a customer of an institution that offers Pix, you will need to create a checking, savings or payment account at a bank that offers this tool.
Register your Pix key on the institution's website, app or branch.
The key can be your CPF/CNPJ, email, cell phone number or a random key, which is a code randomly generated by the Central Bank to be linked to a single account.
This key is basically the “address” of your account. In other words, to receive a transfer via Pix, you no longer need to provide your account, branch or bank number.
Now, just pass your Pix key and that's it! The other person will be able to transfer funds to your account.
What are the main functions of Pix?
Pix is well known for having revolutionized the way of making online transfers.
When there were only TED and DOC, the transfer process was a little slower. In addition, fees were charged even for transfers between individuals.
However, making transfers is not Pix's only feature.
With this tool, you can make in-person purchases using QR Code, top up your cell phone and even pay your electricity bill.
It is also possible to withdraw money in stores through two new features: Pix withdrawal and Pix Troco.
Pix withdrawal
With Pix Saque, you can withdraw money from commercial establishments, without having to make the purchase there.
If you are interested, you must go to an establishment that offers the service and make a Pix for the amount you wish to withdraw in cash.
Pix change
Pix change It works in a similar way to Pix withdrawal.
The difference is that here, you will purchase a product in the store using Pix.
In other words, you will make the purchase by paying an excess amount and will receive the change in cash.
For example, you buy a product R$ 40, but make a Pix of R$ 60 through the QR Code. In this case, the store will return R$ 20 to you in cash.
Conclusion
As you can see, for individuals (PF), Pix is free at all banks.
Register a key today and enjoy all the features this tool has to offer!
