What is automatic picks? 16th | The economy

Oh Bonco Central That is Automatic picks.

The purpose of automatic picks is to simplify the payment of repetitive costs such as school monthly fees, condominium fees, signatures, health plans and accounts of necessary services. This proposal is to further expand the use of picks that provide an alternative to traditional automatic debit, but with less bureaucracy and greater scope, especially for small businesses.

Automatic Picks and Repeated Picks: What are the differences?

However, both are not the same thing. Repeated picks, already available in some financial institutions, allows the user to program the periodic transfers of fixed values ​​for pre -established dates for each scheduling.

On the other hand, automatic picks go further: companies send a request for the customer to authorize automatic debts, which will differ in value and date depending on the contract service. It is very similar to the traditional automatic debit, but with differential: it does not require previous agreements between banks and companies, which facilitates access and adhesion of small businesses.

How is it in practice?

For users:

When you take a service, the customer will receive the customer through the application of your bank, a request for the authority to repeat the payments. If you agree, the values ​​are automatically debilitated, without the need to accept each payment one by one. The user has complete control and can cancel or adjust the authority whenever they want.

For companies:

Companies of all sizes can often use automatic pics to make charges. They send a request to the customer and after they enjoy, they automatically receive payments. The Central Bank bets that this innovation helps to reduce default rates and provide a more Able business management.

For banks:

Financial institutions should make this activity available on their platforms. Since February, the Central Bank has conducted the examination stage, which will be closed on June 6, certainly to ensure that the system is safe and comprehensive.

The most common questions

Is it safe?

Yes. Automatic Picks follows all existing security protocols in traditional pics: encryption, authentication and the possibility of tracking all activities. In addition, it can only be activated on the customer’s clear authority, with withdrawal when you want.

Will there be a fee charge?

For people, the service is free. Companies have to bear rates based on the policies of the financial institution they receive.

Who can use?

Any individuals can use automatic pics as a payer. As a recipient, operational legal entities are unique, such as schools, gyms, service providers and signature organizations that are often suitable for charges.

How to activate?

The company sends a authentication request, which is the customer receiving the bank application. If you agree, the payments will be made automatically according to the established circumstances.

Is it possible to cancel?

Yes. Customer can cancel authority through a bank application at any time.

Do you need the Pix key?

Is not required. Automatic picks can be done using traditional bank details such as an account and agency number without the need for Pix key.

*Under the supervision of Thalin Silva, Journalism Intern, Policy and Economy Center Coordinator Kaila Ferrera