The Pix precautionary block was developed by the Central Bank (BC) for greater security of its users. With it, the institution itself can suspend accounts and sums of money that are under suspicion of fraud. The goal is to keep activities via Pix increasingly safe and significantly reduce scam attempts against its users.
Learn more about Pix’s precautionary block below.
What this article covers:
PIX precautionary block: find out what it is
To reduce fraud attempts, the Central Bank created the Pix precautionary blocking tool, which aims to strengthen security by incorporating yet another layer of automatic analysis. Pix’s precautionary block is capable of blocking accounts and transactions for up to 3 days for a deeper investigation to be carried out.
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When a user has his transaction in Pix’s precautionary block, he receives a notification in the bank app that transferred values. Some institutions reinforce communication with an email. If the analysis finds that there are no irregularities with the transaction, the amount is again released to the destination account.
Now, if the analysis demonstrates any irregularity with the transaction, the money is immediately returned to the original account with the Pix precautionary block. According to BC, transactions enter Pix’s precautionary block when there are suspicions of fraudulent operations, movements that are not part of the user’s financial life, large-value transactions and also when there is a payment to a misleading destination account.
Special Return Mechanism: How does it really work?
Also known as MED, the Special Return Mechanism is a tool that works when suspected fraud is actually recognized. This mechanism can occur when the institution recognizes the fraud or the user himself.
Thus, with the Special Return Mechanism active, the bank of origin of the transaction will be able to request a return to the bank where the money was sent. When this happens, the money must return to the original account within 24 hours of the return request.
This new tool was developed to make it even easier for Pix users. Before her, the return of values ​​took days. Now, thanks to the Special Return Mechanism, it is possible to have your money back in just a few hours and with an easier procedure.
When can activation take place?
MED is activated immediately when there is a suspicion of fraud in a transaction or when there are operational failures in the bank’s own system. However, it is important to emphasize that this service is not activated when a user makes a Pix by mistake. This is because the MED was not developed to reverse payments, but to act in cases of fraud and operational errors.
Just like Pix’s precautionary blocking, when the MED is triggered, the user is immediately notified by SMS and email.
What should you do if Pix’s precautionary block happens?
Transactions that are paused by Pix’s precautionary block are released within the 72-hour period. If this happens, it is important to wait for the proposed period, as the transaction will be subject to further analysis to ensure greater security.
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Once the analysis is done, the money will be immediately sent to the destination account and the transaction will be completed. In addition, it should be noted that only the value of the transaction in Pix’s precautionary block is frozen. Therefore, the user can continue with the movements normally until the problem is solved.
How PIX security works
Pix has always been considered by BC to be an extremely safe tool. In addition to these new mechanisms, it also relies on efficient user authentication and information encrypted by the National Financial System Network.
Its new security measures were created solely to guarantee even more protection of all transactions carried out by the platform and to improve the quality and speed of the services performed.
