DOC and Tech come to an end this Thursday (29) – 02/28/2024 – Market

After almost four decades among the most traditional means of bank transfer, the DOC (Credit Order Document) definitively ceases to exist this Thursday (29).

Tech (Special Credit Transfer) operations, carried out exclusively by companies to pay benefits to employees, will also be discontinued.

According to Febraban (Brazilian Federation of Banks), the extinction of the two payment methods considers Brazilians’ lack of interest in using them. Customers have given preference to Pix, “because it is free, instant and also because of the value that can be transacted”, he says.

At both Tech and DOC, the maximum value of transactions was up to R$4,999.99, which could be scheduled to benefit another account, including from a different bank. Transactions made by DOC were carried out one day after the bank received the transfer order, while by Tech, the transfer took place by the end of the same day.

With Pix, the transfer is automatic and the value limit is adjustable by the account holder, with time restrictions: from 8pm to 6am, the maximum amount for transfers is R$1,000, even if sent in installments. The night limit can be increased, although this is not the Central Bank’s recommendation.

The decision to close DOC and Tech was approved by Febraban’s governance in May 2023, after discussions with the 114 associated banks throughout 2022 and also took into account the experience and cost-benefit to customers, as other modalities offer the same service as DOC.

According to a survey carried out by Febraban on payment methods based on data released by the Central Bank, transactions via DOC in the first half of 2023 totaled 18.3 million operations, just 0.05% of the total 37 billion operations carried out in the year .

The form of transfer was well behind checks (125 million), TED (448 million), bank slip (2.09 billion), debit card (8.4 billion), credit card (8.4 billion) and PIX , the preferred choice of Brazilians, with 17.6 billion.

The discontinuation of the DOC and Tech began on January 15th of this year, the deadline for banks to offer the DOC issuance and scheduling service to customers, both for individuals and legal entities.

Transactions could be scheduled until this Thursday, February 29th, when the system will be definitively closed.

Available Electronic Transfer (TED) will continue to be a valid option.