The Central Bank, through BCB Normative Instruction 115 of 21/6/2021, has removed the obligation for PIX participants to immediately accept requests to reduce the limit of legal entities.
As from 01/07/21 the reduction must be carried out immediately only if the request is made by a natural person. If the request is made by a legal entity, the deadline will be up to one working day.
The regulation also changed the deadlines for response to limit increases by institutions participating in the Pix. For requests made by natural persons, the response must occur within one hour after the request, if the request is made between 6 am and 8 pm, and by 7 am of the business day following the request, if the request is made between 8 pm and 6 am. Requests made by legal entities, on the other hand, must be responded to within two working days.
For further information the Payment team is at your disposal.