Brazil’s C6 Bank clients can now make 100% free Pix Saque and Pix Troco transactions across the country.
The new functionality “allows operations like these to be carried out in commercial establishments and lottery houses, not just at ATMs, making life easier for users.”
Maxnaun Gutierrez, head of products, individuals and CRM at C6 Bank, said:
“Pix Saque and Pix Troco bring more convenience to the customer, who does not need to be near an ATM to withdraw money. Bringing convenience to the customer who needs banking services is one of C6 Bank’s missions.”
At C6 Bank, transactions with Pix Saque and Pix Troco “are 100% free of fees, regardless of the amount of withdrawals or change made.”
To make operations with Pix Saque and Pix Troco, the customer “has to read the QR Code of the commercial establishment where the transaction will be carried out.” Just open the Loot and Exchange option, which is in the Pix area of the C6 Bank app, and “enable the QR Code reader.”
At Pix Saque, the transfer amount “corresponds to the amount that the customer will withdraw.” Pix change is “the difference between the value of the purchase he made at the establishment and the amount he will take home.”
According to data from the Central Bank, there are “around 15,000 commercial establishments in the country authorized to carry out Pix Saque and Pix Troco operations.”
The maximum limit for transactions with Pix Saque and Pix Troco “is BRL 500 during the day (from 6 am to 7:59 pm), and BRL 100 at night (from 8 pm to 5:59 am).” C6 Bank customers can “adjust this limit downwards directly through the app.”
Gutierrez added:
“Our recommendation is that people always adjust their limits to the lowest possible amount, respecting their spending profile.”
Adjusting the maximum limits for transactions via Pix can also “be done directly through the bank’s application.”
At C6 Bank, when someone asks to change this limit, the new value only “takes effect after 24 hours – or on the next business day, in the case of Fridays or the eve of holidays.”
A C6 Bank/Ipec survey shows that 47% of Brazilians “still haven’t adjusted their Pix transaction limits.” Another 36% have “already set new values for their transfers with Pix, 6% have made this adjustment for only one of the banks they use and 12% responded that they do not remember.”
The survey included responses from 2,000 Brazilians “from the ABC classes with internet access between May 20th and 27th.” The margin of error “is plus or minus 2 percentage points.”
In another update, it was noted that C6 Bank “debuts this month in the home equity segment, a credit modality still little known to Brazilians, but which had high growth after the pandemic.”
Unlike real estate credit, in home equity, the property is “given as collateral and the resources can be used for any purpose.” According to the Brazilian Association of Real Estate Credit and Savings Entities (Abecip), “the volume of loans to individuals in this modality grew 32% in 2021 compared to the previous year, jumping from R$4.1 billion to R$5.4 billion. billion.” In terms of number of contracts, “the increase was 36%.”
Popular in the United States, home equity “has recently started to gain ground in Brazil because it is cheaper and has a longer term than traditional personal loans.”
Currently, the home equity portfolio in Brazil “already exceeds R$ 14 billion, according to Abecip.” Loans with real estate guarantees “can be paid in up to 240 months at rates that are even more advantageous than payroll loans, depending on the customer’s profile.”
The loan limit “offered by C6 Bank is up to 60% of the value of the property.” If it is not paid off, “at least half of the loan is conditioned to the payment of this debt.” This means that “even a property still financed can be given as collateral.”
For the time being, the new C6 Bank product “is available on the app for a group of 200,000 customers and in the second half of the year it will be extended to a broader base of individuals.” Credit must be “requested directly through the app and also through the bank’s website.”
