BCB Resolution No. 167 — Amends the Regulation annexed to BCB Resolution No. 1 of August 12, 2020, governing the Pix payment arrangement, to adjust provisions regarding Pix for withdrawal or change purposes

BCB RESOLUTION NO. 167, OF NOVEMBER 24, 2021

Amends the Regulation annexed to BCB Resolution No. 1, of August 12, 2020, which disciplines the functioning of the Pix payment arrangement, to adjust provisions regarding Pix with the purpose of withdrawal or change.

The Collegiate Board of the Central Bank of Brazil, in a session held on November 23, 2021, based on art. 10, item IV, of Law No. 4.595, of December 31, 1964, art. 10 of Law No. 10.214, of March 27, 2001, arts. 6, 7, 9, 10, 14 and 15 of Law No. 12.865, of October 9, 2013, Resolution No. 4.282, of November 4, 2013, Communication No. 32.927, of December 21, 2018, and Communication No. 34.085, of August 28, 2019,

R E S O L V E:

Art. 1 The Regulation annexed to BCB Resolution No. 1, of August 12, 2020, shall enter into force with the following alterations:

“Art. 3 ............................................................................................................

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XXVII - withdrawal agent: a legal entity that establishes a contractual relationship with a withdrawal service provider to provide such service in the name of that participant, which may be:

a) a commercial establishment of any nature;

b) another legal entity whose main or secondary activity is the provision of auxiliary services to financial services or similar; or

c) a correspondent in the Country, in accordance with the specific regulation issued by the National Monetary Council in the exercise of its legal duties.

Sole Paragraph. For the purposes of the provision in item “c” of item XXVII, the contract regarding the withdrawal agent must be autonomous with respect to that for the provision of the correspondent service in the Country.” (NR)

“Art. 7 ............................................................................................................

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§ 3 Participants that offer the initiation procedure provided for in item III of art. 12 must include the functionalities provided for in items I and III of art. 11-A.” (NR)

“Art. 11-G. Pix Change consists of the transaction in which a paying user, with a transactional account at any Pix participant, upon making a purchase at a withdrawal agent that is one of the legal entities defined in items “a” or “c” of item XXVII of art. 3, receives cash resources in an amount corresponding to the difference between the value of the Pix with the purpose of change made from their transactional account to the transactional account of the withdrawal agent and the value of the purchase.” (NR)

“Art. 11-L ........................................................................................................

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III - publish, in the format indicated by the Central Bank of Brazil, keep updated and monitor the information of the withdrawal agents with which it has a contractual relationship.

§ 1 .................................................................................................................

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VIII - the possibility of unilateral rescission of the contract by communicating to the other party with a minimum advance notice of 30 (thirty) days;

IX - the conditions and operational procedures for the payment of the remuneration due to the withdrawal agent under the terms of § 2 of art. 96-A, observed the rules established by the Central Bank of Brazil in a specific document;

X - the prohibition on the establishment of a contractual relationship, by the withdrawal agent, with more than one withdrawal service provider simultaneously;

XI - the complete identification of the withdrawal agent’s transactional account maintained at its transactional account provider and linked to the provision of the withdrawal service;

XII - the need for the withdrawal agent to keep updated, with its withdrawal service provider, the information necessary for the provision of the service, including with regard to the identification of the account maintained at its transactional account provider;

XIII - the need for the withdrawal agent to communicate to its transactional account provider about the start and end of the validity of the contract signed with the withdrawal service provider and about the identification of the withdrawal service provider, in cases where the transactional account provider and the withdrawal service provider are distinct participants; and

XIV - the need for the withdrawal agent to prove, to its withdrawal service provider, that it carried out the communication provided for in item XIII.

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(NR)

“Art. 11-N. The operational aspects for the implementation of Pix Withdrawal and Pix Change, including regarding value limits, timeframes, and procedures necessary for the withdrawal agent to be able to offer the products, to be observed by transactional account providers and withdrawal service providers, will be contained in a specific document published by the Central Bank of Brazil.” (NR)

“Art. 11-P. The scheduling of Pix Withdrawal and Pix Change is prohibited.” (NR)

“Art. 41.
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§ 2 When the transaction subject to the return is a Pix with the purpose of withdrawal, the withdrawal service provider or the withdrawal agent, as the case may be, must initiate it within 1 (one) hour, once it verifies that the return is due.

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§ 4 When the transaction subject to the return is a Pix with the purpose of change, the withdrawal service provider or the withdrawal agent, as the case may be, must initiate the return of the portion related to the provision of cash resources within 1 (one) hour, once it verifies that the return is due.” (NR)

“Art. 41-A .......................................................................................................

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II - must be initiated within 90 (ninety) days counted from the date on which the original transaction was carried out, except when it concerns a Pix with the purpose of withdrawal or the portion of a Pix with the purpose of change related to the provision of cash resources.” (NR)

“Art. 41-B .......................................................................................................

§ 1 The following are not included in the return hypotheses provided for in the caput:

I - controversies related to aspects of the underlying legal business of the payment transaction; and

II - transactions with founded suspicion of fraud in which the resources were destined to the transactional account of a third party in good faith.

§ 2 The Special Return Mechanism does not apply to Pix with the purpose of withdrawal or to the portion of Pix with the purpose of change related to the provision of cash resources.” (NR)

“Art. 87-F. Participants of Pix who are transactional account providers and withdrawal service providers are not permitted to charge tariffs to withdrawal agents, regarding the cash amounts provided in transactions with the purpose of withdrawal or change.” (NR)

“Art. 96-A .......................................................................................................

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§ 2 ..................................................................................................................

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II - when the withdrawal agent is one of the legal entities defined in items “b” or “c” of item XXVII of art. 3, the interchange tariff provided for in the caput of this article shall be R$2.00 (two reais), to be paid to the withdrawal service provider, with the portion of this value related to the remuneration of the withdrawal agent to be freely negotiated with the withdrawal service provider.

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(NR)

Art. 2 The following provisions of the Regulation annexed to BCB Resolution No. 1, of 2020, are repealed:

I - the sole paragraph of art. 41-B; and

II - §§ 5 and 6 of art. 96-A.

Art. 3 This Resolution enters into force on the date of its publication.

João Manoel Pinho de Mello
Director of Organization of the Financial System and Resolution