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Money transfer in Brazil: differences between PIX and bank deposit

Entrepreneurs who work with e-commerce have many issues to worry about when it comes to their websites. In this sense, everything must be designed and thought to provide the best experience for its customers — including the payment methods, such as money transfer.

Therefore, in order to help you find the best options for your website, in this article, you will be able to understand which money transfer can be most advantageous for you and your business. We will explain what is PIX and EXPRESS TRANSFER offered by LATAM GATEAWAY, and we are going to show you the differences between these two. Keep reading!

What is PIX?

PIX is an instant payment tool. A person or a company can pay and receive money with this method. It was created by the Banco Central as a way of innovating the money transfers that were already offered, and it is a major trend in several countries besides Brazil.

But, currently, our country is one of those where all large financial institutions must offer PIX. And that is a good thing because this money transfer charges nothing from the payer or the receiver. So, entrepreneurs can benefit from this, since the use of other payment methods that charge fees will be reduced.

The clients of your business can also make payments with PIX using a QR Code, which is something that makes the payment easier in your e-commerce for your customers. They just need to points the cell phone camera to the QR Code and pay the value of what was purchased.


The Express Transfer is a type of bank deposit and it is one of the payment methods offered by LATAM GATEAWAY. It is called like that because, when using this, the payment confirmation comes within a short period of time — around 15 minutes.

To understand better the Express Transfer, you need to know how the traditional money transfers used in Brazil — TED and DOC — work.

TED stands for Transferência Eletrônica Disponível (Available Electronic Transfer) and is a real-time transfer that can be made between accounts of different financial institutions. It is regulated by the Conselho Monetário Nacional and by the Banco Central.

DOC is the acronym for Documento de Ordem de Crédito (Credit Order Document) and it is also a transfer between bank accounts of the same bank or not, however, unlike TED (Express Transfer), this is not done in real-time — which we will detail in more detail in the next topic.

Both can be done via internet banking, but it is also possible to realize these two money transfer methods at ATMs, which is good for people who are not yet very used to making money transfers via cell phone or computer or simply dislike it.

What are the differences between these two money transfer options?

We can start talking about the differences by commenting on the information needed to make the money transfer. So, with PIX, the customer just needs to have the Chave PIX (PIX Key) of the company that will receive the amount — which can be a phone number, an email address, CPF, or a “random key”.

Otherwise, to do a TED or a DOC, the client must have some more information about the company like:

  • the code of the bank to which he/she will make the money transfer;
  • the bank agency of the bank account he/she is paying;
  • the bank account and CNPJ of the company, as well as its full name;
  • type of bank account (checking or savings).

Moreover, another difference is related to the times available to make the money transfer and how long it takes for the money transfer to complete.

PIX takes a maximum of 10 seconds to complete and for the company to receive the money from the customer. In addition, it can be done on any day of the week, including Saturday, Sunday, and holidays.

This is quite different from what happens with TED, which, if done during business hours (until 5 pm) on a business day, the receiver gets the money on the same day — usually in about 15 minutes. If this transfer is made after this period, it is only completed on the next business day.

And, as against PIX and TED, DOC has an even longer delay. In it, the amount only arrives in the company’s account on the next business day and, if it is made after 10 pm, it may take up to two business days.

Also, one more difference is that TED has some limits depending on the financial institution. For example, a bank can limit this money transfer to five per month and, if it goes beyond that, it charges a fee (about 10 reais per TED). But it is worth mentioning that some digital banks do not charge for TED nor set limits, an aspect that is very similar to PIX.

Regarding the amounts, TED has no minimum limit, however, some banks may establish a maximum limit. PIX at the beginning had no limits, however, recently, a limit was established for individuals, a maximum of 1,000 reais from 8 pm to 6 am — a value that can be changed by the user at any time.

Lastly, DOC has the same limitations as TED, the difference is that it has a limit of 4,999.99 reais per money transfer and a higher fee in some cases.

What payment methods does LATAM GATEWAY offer for websites?

Besides PIX and Express Transfer, we offer some other forms of payment for websites, which will fit perfectly into your e-commerce. The options are:

  • Boleto Express;
  • Express Deposit;
  • Credit Card;
  • Digital Wallets.

Finally, you know what are the differences between PIX and the Express Transfer, both ways of making an efficient money transfer for your online business. Besides that, check the other payment options mentioned and their benefits for you and your customers. Thus, you will be up to date and offering the best to your customers!

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