Banks will stop offering transfers via DOC from this Monday

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Traditional bank payment method will close at 10pm today. Febraban states that the model lost space to PIX. DOCs and TECs will be discontinued in 2024 Ono Kosuki/Pexels Institutions associated with the Brazilian Federation of Banks (Febraban) will end this Monday (15) making transfers via DOC (Credit Order Document), one of the most traditional payment methods Bank officer. The measure is valid for individuals and legal entities. Appointments for this modality can be made until 10pm. According to Febraban, the definitive extinction of the system will occur on February 29th — the maximum date for banks to process already scheduled transfers. In addition to DOC, institutions will also no longer offer Special Credit Transfer (Tech), which are operations carried out exclusively by companies to pay benefits to employees. Card revolving: understand how the new limit can influence credit supply and default Currently, the maximum amount allowed for any transaction via DOC or Tech is R$4,999.99. No changes to TED (Direct Electronic Transfer) operations were announced. In DOC, operations are carried out one day after the bank receives the transfer order. In Tech, the transfer is carried out, at most, by the end of the day on which the order was given. The deadlines for closing functions, therefore, are as follows: Offers of transfer services via DOC or Tech to customers can take place until 10pm this Monday (15th); Within the deadline, customers can schedule the DOC or Tech to be sent by February 29, 2024; Banks will close the systems for receiving and processing DOC and Tech on February 29th. Use of payment methods According to Febraban, operations via DOC, a system created in 1985 by the Central Bank of Brazil, had been used less and less in recent years, especially after the launch of PIX, in November 2020. “Both Tech when DOC stopped being customers’ first option and its use has been falling steadily in recent years. Customers have given preference to PIX, because it is free, instant and also because of the value that can be transacted”, says Walter Faria, deputy director of Services at Febraban. A survey by the institution 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 ranking of most used models: PIX Credit card Debit card Boleto TED (Direct Electronic Transfer) Check DOC (Credit Order Document) Find out how to protect yourself from scams on PIX

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