Forgot the DOC method? Just like you, many Brazilians don't remember the traditional transfer after Pix arrived. It is certainly not possible to remember when it was the last one that carried out a transfer from TED or DOC. Pix arrived with an instant proposal, without tariffs and is displacing the DOC for the year 2024.
The DOC is the acronym that represents the Credit Order Document and has been active since 1985 in Brazil. The transfer limit is BRL 4,999.99 per day, with a deadline of one or two business days to complete. After long years of usefulness for Brazilians, the tool has a date set to cease to exist. Understand why!
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DOC will end in 2024
Last Thursday, the 4th, the Brazilian Federation of Banks (Febraban) informed that the DOC will no longer be offered in February next year because of the population's lack of interest in carrying out the transfer. In 2022, for example, there were only 59 million transactions made in DOC.
“The use of these operations has been continuously falling in recent years, especially after the launch of Pix in November 2020,” said the Febraban statement.
Along with the announcement, they disclosed the transaction limit calendar and until when the option will be available.
On January 15, 2024, at 10 pm, Brazilians will be able to schedule the last transfer using the method. Only on February 29 of the same year that the closure will be concluded by the banking institutions.
During the same period in 2022, Pix recorded around 24 billion transactions. The DOC was behind even the check, which is an older transaction, registering around 202.8 million transfers last year. Behind Pix, were credit cards with 18.2 billion and debit cards, soon after, which registered 15.6 billion.
Boleto, in fourth place, had 4 billion transactions, followed by TED with 1.01 billion. Of all the methods, only DOC remained in the millions.
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