01/08/2024 – 10:45
Brazilians will be able to make transfers via DOC until 10pm next Monday, January 15th, according to the Brazilian Federation of Banks (Febraban). The date will mark the end of the offer of the operation, which has existed for almost four decades, and which became obsolete with the arrival on the market of Pix, the instant transfer system created by the Central Bank.
The closure was announced by the banks last year. After the deadline, it will no longer be possible to make new DOCs.
Until then, it will be possible to schedule transactions through this payment method for settlement until February 29th, which will also be the last day for banks to process DOCs sent by customers.
The DOC was created by the Central Bank in 1985. Through it, customers make transfers to other bank accounts, but the operation is only carried out on the following business day for operations made before 9:59 pm on that day. If the DOC is made after 10 pm, it will only enter the beneficiary's account on the second following business day.
In addition to the DOC, the TEC, created by the BC for companies to pay salaries and benefits to employees, will be abolished, but which has also fallen into disuse.
“Both TEC and DOC are no longer the first option for customers and their use has been falling steadily in recent years”, says Febraban’s deputy director of Services, Walter Faria, in a statement. “Customers have given preference to Pix, because it is free, instant and also because of the value that can be transacted.”
Even before Pix, DOC faced competition from a faster transfer method: TED, which was created in 2002 and which allows money to be sent on the same day if the operation takes place before 5 pm.
TED will continue to exist, and is a popular payment method for large-value transfers.
The use of DOC has been falling. In the first half of last year, the instrument totaled 18.3 million transactions, or 0.05% of payment transactions carried out in the country.
Pix, with 17.6 billion transactions, credit and debit cards, with 8.4 billion transactions, and TED itself, with 448 million, were ahead, according to a Febraban survey.
In November last year, according to the BC, transfers via DOC generated R$1.522 billion.
Pix had a much larger turnover: R$1.741 trillion.
TED, in turn, generated R$3.135 trillion.
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