BCB Instruction No. 634 of June 5, 2025 — Amends Instruction No. 513 to Enhance Security Requirements for Receiving Users in Pix Automatic

BCB INSTRUCTION NO. 634, OF JUNE 5, 2025

Amends Instruction No. 513, of August 30, 2024, which establishes the operational procedures related to Pix Automatic, Scheduled Pix, and Invoice Pix, to enhance security requirements related to receiving users within the scope of Pix Automatic.

The Head of the Department of Competition and Financial Market Structure (Decem), using the attribution conferred by art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on art. 94, item IX, of the aforementioned Regulations, and taking into account the provisions of art. 11-T of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020,

R E S O L V E :

Art. 1º Instruction No. 513 of the Central Bank of Brazil, of August 30, 2024, shall enter into force with the following alterations:

“Art. 5º ...................................................................................................................................

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§ 8º The payment service provider of the receiving user must not send the payment instruction if:

I - the permission granted by the paying user to the receiving user is not confirmed; or

II - the receiving user is in the situation provided for in art. 89, § 2º, of the Pix Regulation.

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§ 10. The payment service provider of the receiving user must use the information contained in the CNPJ, as per the record maintained by the Federal Revenue Service, to fill in the identification information of the receiving user in the payment instructions and in all other flows related to Pix Automatic.” (NR)

“Art. 15-A. Within the scope of Pix Automatic, the participant payment service provider of the receiving user must verify the suitability of its client prior to contracting Pix Automatic, as well as during the validity of the service provision contract, considering, at a minimum:

I - the following company registration information:

a) date of registration in the National Registry of Legal Entities (CNPJ);

b) registration status of partners and administrators in the Individual Taxpayer Registry (CPF);

c) type of company capital, private or public;

d) economic activity according to the National Classification of Economic Activities (CNAE); and

e) legal nature;

II - the following indicators regarding the company’s activity:

a) compatibility between the economic activity and the service offered for Pix Automatic;

b) number of employees,

c) share capital value; and

d) revenue;

III - the security information stored in the DICT, in cases where the participant has access to the directory;

IV - the history of the relationship with the participant, such as account opening time and use of other collection methods, in cases where the participant acts as a transactional account provider; and

V - the habitual transactional behavior with the participant.” (NR)

Art. 2. This Instruction enters into force on:

I - July 16, 2025, for the alterations set forth in art. 5º, § 8º, item II; and

II - June 16, 2025, for the remaining alterations.

RICARDO TEIXEIRA LEITE MOURÃO

NOTE

Decree No. 10,411, of June 30, 2020, provides for the mandatory implementation of a regulatory impact analysis (AIR) for the issuance of normative acts of general interest produced by the bodies and entities of the direct and indirect federal public administration.

However, as defined in paragraph 8 of Vote 280/2021–BCB, of November 10, 2021, the Pix Regulation, including other documents that integrate, detail, or complement it, do not constitute a regulatory act of coercive and general force, but rather have an eminently contractual nature regarding exclusively the participants of this payment arrangement. Thus, modifications made to the aforementioned regulation and to the other documents that integrate, detail, or complement it are not subject to the prior production of an AIR.