2023-09-05 03:20:43
Banks anticipate the end of DOC with Pix popularity
Transfers via DOC (Credit Order Document) will end by January 15, 2024, according to Febraban (Brazilian Federation of Banks). However, some of the largest financial institutions in the country anticipated the end of operations to individuals through this modality. Read what they were:
Itau – closed in January;
Santander (BVMF:) – ended in September;
Bank of Brazil (BVMF:) – will end transactions for individuals on 15.Oct.2023. For legal entities, as determined by the federation.
Bradesco (BVMF:) and Caixa Econômica Federal decided to abandon DOC following Febraban’s schedule. On the cut-off date, customers can schedule transactions until February 29, 2024.
Banks that are going to suspend the DOC in advance can still receive this type of transfer from the institutions that still carry out the operation. Digital native banks, such as C6 Bank and Original, have never offered the service, but they can receive it.
Created in 1985, DOC lost ground to more modern bank transfer models. At first, TED (Available Electronic Transfer), created in 2002. More recently, for Pix, from 2020.
Pix was the most used means of payment in 2022, with 24.1 billion transactions carried out using the instant payment method. The top 3 is completed by credit card (18.2 billion) and debit card (15.6 billion).
On the other hand, DOC was the least used. It didn’t even reach billions of operations, with 590 million. Data are from the Central Bank. Here are the full numbers (105 KB).
Regarding the volume of money transacted, DOC is also in last place. It moved BRL 55 billion in 2022. In the same period, Pix moved BRL 10.9 trillion and is only behind TED, which has BRL 40.9 trillion.
Launched in 2020 by the Central Bank, Pix stood out for the ease and speed of bank transfer. With this, it displaced other types of operations.
Understand below how each transaction model works:
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