TEV is an acronym that means Electronic Transfer of Values. TEVs are transfers made between different accounts of the same financial institution. DOC and TED are used for transfers between accounts of different banks.
TEVs can be carried out both between checking accounts and savings accounts and are free of charge if they do not exceed the limit stipulated by the bank for free service.
What is the difference between TEV, TED and DOC?
- TV: the Electronic Transfer of Values is carried out between accounts of the same bank. The amount is credited within a maximum of 10 minutes after the transaction.
- TED: the Available Electronic Transfer is carried out between accounts of different banks and is credited to the beneficiary's account in a few minutes if carried out until 5 pm. After that time, the value drops the next day.
- DOC: the Credit Document is also a transfer between different banks, but it is limited to the amount of R$ 4,999.99. In this case, the amount enters the account on the following day if it is paid up to 9:59 pm. If the amount is transferred at 22:20, for example, it will only be entered into the account on the second business day after the transfer.
How to perform a VTE?
The TEV is an easy transfer to be performed, just have the branch number and current or savings account in hand. It is not necessary to have the full name and CPF or CNPJ, as in the case of TED and DOC.
Is TEV charged?
The Central Bank determines the minimum number of transfers between accounts of the same institution that must be free of charge and, based on that, each bank defines the maximum number. After the maximum number of free transfers, the fee may be charged.
It is different from transfers between accounts of different institutions, such as DOC and TED. In these cases, fees are always charged, which vary by institution.
What are the advantages of performing a VTE?
The Electronic Transfer of Values is a safe, fast and practical method to be performed. VTE can be performed in a few clicks from the computer, cell phone, or service terminals.
The transferred amount is instantly sent to the destination account, it is necessary to wait a maximum of 10 minutes for the amount to be credited. And this is not only true for weekdays, on weekends and holidays this transfer is carried out just as quickly.
TEVs are also easier to identify than a deposit at the cashier's end, this increases the security of the person sending the money.
What does CRED TEV mean?
A very common question is about the meaning of CRED TEV, an acronym found on bank statements Federal Savings Bank. This acronym indicates that the amount was transferred from another account of that bank to the account in question.
Other banks, despite having the Electronic Transfer of Values option, identify these credits differently. Banco do Brasil, for example, identifies a TEV on the statement with the word transfer and the name of the original account holder.
In case of unidentified VTE
In case of credit from a TEV not identified on the bank statement, it is recommended that this money is not used and that the bank is contacted to verify the origin of the amount.
See also the meaning of CNPJ and Cash.
