The registration of keys in the PIX (phone number, CPF or email) starts on Monday (05), but the new platform of instant payments in Brazil will only start to work in November. So how can you choose which bank or fintech to hold your most important keys in without knowing what each one will offer in terms of features or benefits?
To help you make a decision, the TecMundo talked to Carlos Netto, CEO of Matera, a company that has been working on the development of PIX with the Central Bank and several other entities in the market.
Netto’s first recommendation for you, an individual, is to register your phone number and CPF number with the financial institution you already use on a daily basis.
Register on that account where you already move money, where you pay your bills, where your automatic debits are…
He believes that, with this strategy, the user will gain in practicality right from the start. If you find out later that another institution is offering more advantages, such as points, cashback or something that your bank does not provide you, it is perfectly possible to migrate your keys to another institution.
But it is important to check out the advantages that the banks in which you have an account will offer. “If you are a painter or any other type of professional, think about this: is your bank account expensive? Do you have a digital wallet that is cheaper? consider tying your cell phone to that wallet and closing your bank account, ”recommends Netto. “Take the key to the bank that doesn’t charge you anything, because it won’t matter which bank you have an account with anymore. Transfers will be free in any way ”.
However, stay tuned, as there will be a maximum amount of migrations per week for security reasons.
Protect yourself from fraud
It is important that you register at least your CPF and mobile number as soon as possible. That way, you protect yourself against possible fraud. It is possible for criminals to try to “hijack” your PIX keys, even before you register them, in the expectation of receiving possible transfers instead.
“If you tie your cell phone to a bank, to migrate to another institution later, you will need to approve this‘ portability ’in the bank app where you first registered. And that guarantees double security, because only you will be able to make this approval. If someone opens a fake account in your name, they will only be able to put your cell phone number as PIX if you have not yet registered, ”revealed Netto.
If you try to register your cell phone, social security number or email on the PIX and receive an error message, saying that the key already belongs to someone else, you can claim ownership of it. However, you will have to prove your identity and go through a process that can be bureaucratic and which is not yet fully consolidated in banks and fintechs.
To avoid future headaches, even if you do not intend to use the PIX at the first moment, it is important to register your main keys as early as this Monday or in the coming days
You can use PIX even without a key
It is important to turn your mobile phone number and social security number into PIX keys to protect yourself against possible fraud in the future, but you will not be required to do so if you are just making payments.
All bank and fintech apps will have a QR code reader already in November, and you will be able to scan the code of a store, boleto or vendor and make the payment with your account balance without even having to make any configuration or authorization. to enter the PIX.
It will be a native resource of the Brazilian financial system, and anyone who uses money in its digital form will be able to take advantage of it.
If you don’t register a key, people can still send you money through your bank account number and branch, as if it were a TED. The difference is that the transaction will be carried out on time and free of charge for both parties.
Cashiers from stores and supermarkets will also adopt PIX at launch, and some companies that develop software for the cashier are already preparing their systems to offer static and dynamic QR Codes and make it easier to pay by cell phone to anyone who have money in account.
Which bank to choose?
As no institution has revealed any information about what extra features they are going to offer to their customers, it is not possible to make any recommendations other than what Carlos Netto said. Register your keys at the institution where you already move money.
When you find an advantage in another fintech or bank, you can migrate. This migration, even, should happen instantly, as soon as you confirm in the bank app that originally had your key.
If there are any problems or information conflicts, the transfer may take up to seven days to complete. That is why it is important to “tie” your main keys to any bank that is most convenient as early as Monday. With this, you ensure that future migrations happen without any problems and in a very agile way.