End of transfers via DOC and TED: understand the scenario

Have we reached the end of transfers via DOC and TED? That's what we're going to understand today in this article!

With technology, online transfers have become very popular, as there is no longer a need to go to the bank and make the transfer, or withdraw money and have to take it to the person.

In a matter of time we can make different types of transfers, each with its own characteristics, some faster and others slightly slower.

And transfers via DOC and TED were very popular at ATMs and in banking apps until 2020. This year, a new technology arrived and began to be widely used in their place.

Let's understand more about this and how the scenario turned out in this article.

What are DOC and TED transfers?

Before getting to the context and why transfers via DOC and TED are coming to an end, we need to talk about the concept and what they are.

DOC and TED are types of electronic transfers, which allow the movement of money between accounts in the same or different institutions.

Although they both have the same purpose, they are actually somewhat different in their characteristics.

Starting with the DOC, which means Credit Order Document, a slower method since the transferred resources will only be credited on the next business day.

In addition, with this method you can make transfers of up to R$1,999.99. They are an option when the speed of funds availability is not crucial.

As for TED transfers, Electronic Transfer Available is a little faster. If your transfer is made before 5 pm on a business day, it will be made on the same day.

And unlike DOC, TED transfers can be made without having a value limit.

TEDs are made electronically and can be used for transfers between accounts in the same bank or in different banks. They are especially useful when the speed of funds availability is essential.

Why are we coming to the end of transfers via DOC and TED?

Recently, there has been a lot of news about the end of an era, the end of transfers via DOC and TED. But what does this refer to?

As we mentioned in this article, DOC and TED were very popular transfer models, mainly because they were the only easy ways to make electronic transfers in the past.

But this popularity lasted until 2020, when PIX was launched as an even easier and extremely fast way to make transfers.

And that's why the news has been announcing the end of transfers via DOC and TED, because in 2023 Febraban, Brazilian Federation of Banks, announced that from February the DOC will have its days numbered.

Compared to TED, DOC is a slower type of transfer and only allows transactions up to R$1,999.99. And in the world we live in today, people want practicality and speed.

Because of this, DOC will be discontinued from February 29th, a type of transaction that has been in our country since 1985 and was part of many people's lives.

And what about TED?

Although similar to DOC, TED is a little faster, has no limit and is therefore still widely used.

If you make a transfer before 5pm on a business day, it will be processed on the same day. For this reason, TED transfers will continue to be allowed for users.

Will the bills also end? 

No, just like TED transfers, boletos will remain. According to statistics, they are still widely used by Brazilians.

According to figures collected by Nuclea, a banking technology infrastructure provider, more than 7.5 billion bills were issued in 2022.

It is a very common and reliable form of payment, both for individuals and companies. It is commonly used in schools, colleges, educational institutions, streaming services, and in many other situations.

What's next after the end of transfers via DOC and TED?

Recently there has been a lot of talk about the end of DOC and TED transfers after Febraban announced that DOC, a type of electronic transfer, would be discontinued as of February.

To avoid confusion, we must mention that TED, another method, will not be affected. It will continue to be valid for those who prefer this type of transfer.

But what comes to replace the DOC? In fact, DOC has not been used as much since 2020 with the launch of Pix.

Pix allows transfers to be made between any banking institution and accounts, 24 hours a day, 7 days a week. And best of all, they happen in up to 10 seconds, very fast.

That is why this has become the most common form of transfer among people today. It is a free, fast, instant transaction, easy to do and very secure.

It can be said that instantaneity and free of charge are the main reasons why Pix is the preferred alternative for most people. You don't have to wait another business day; they can even be made on weekends.

And unlike TED and DOC, which charged R$$10 to R$$20 per transfer, Pix is free for individuals and legal entities.

To use PIX, you must register your PIX keys, which can be your cell phone number, email, CPF, CNPJ or a random key. The keys make it easier to identify and make transfers.

PIX can be carried out using QR codes. The codes can be dynamic, generated for specific transactions, or static, intended to be used multiple times.

And with all this favoritism of Pix in relation to other types of bank transfers, institutions carry out frequent updates to the Pix tool, bringing even more ease and convenience.

This is the main reason why many people announce the end of transfers via DOC and TED.