2 ms·

wikipedia doesn't say much about it. I wonder about a few things. Is it safe? I'm pretty sure everyone not carrying cash is very good for physical safety, bu

by m463 2y ago

wikipedia doesn't say much about it. I wonder about a few things. Is it safe? I'm pretty sure everyone not carrying cash is very good for physical safety, but can someone be coerced into emptying their bank account at knifepoint? Are there scams? Can stolen money be retrieved?

PaulDavisThe1st 2y ago
Presumably it has the same simple safeguards that a US system like Zelle or Venmo have. I needed to pay my sister-in-law $1300 the other day, and forgot that I have a $500/day transaction limit in place for such transfers, at my own choosing (setup when I opened the account).
- m463 2y ago
  I thought zelle was riddled with fraud?
  - PaulDavisThe1st 2y ago
    Perhaps. I use it to get cash to family members, no issues.
- rmsaksida 2y ago
  Yeah Pix lets you choose limits. There's decent granularity for those, you can pick max $ per day, per transfer, per period, and per device. There's a caveat that when you increase a limit it takes a day or two to come into effect (basically to avoid people being forced to increase their limits by criminals).
tekno45 2y ago
what system protects you from being coerced at knife point?
- m463 2y ago
  Writing a personal check? Stolen cellphone? Cryptocurrencies are full of scams because you can't put the money back, and some are anonymous.
lucasoshiro 2y ago
> Is it safe? Given the dimension of Pix, I never heard of someone losing money directly because of using it (for example, here in the past was common to see where credit cards were cloned) > can someone be coerced into emptying their bank account at knifepoint? There are limits of use. Banks have different settings for limiting the amount of money that will be transferred in different situations, like when using their apps outside a trusted network, at night, etc > Are there scams? Just like any other payment method. I dare say that it is even safer, as some banks (e.g. Nubank) alerts if you are trying to transfer money to a suspect account. > Can stolen money be retrieved? Perhaps if you contact the bank, but as far as I know it is not a feature :-(
- tpougy 2y ago
  > Perhaps if you contact the bank, but as far as I know it is not a feature :-( Acctually there is a feature to request the central bank to retrieve money stolen through PIX scam. It is called Special Return Mechanism (MED PIX). Link here: https://www.bcb.gov.br/meubc/faqs/p/o-que-e-e-como-funciona-o-mecanismo-especial-de-devolucao-med https://www.bcb.gov.br/meubc/faqs/p/o-que-e-e-como-funciona-...
  - lucasoshiro 2y ago
    Thanks for your information!

by m463 2y ago

PaulDavisThe1st 2y ago

Presumably it has the same simple safeguards that a US system like Zelle or Venmo have. I needed to pay my sister-in-law $1300 the other day, and forgot that I have a $500/day transaction limit in place for such transfers, at my own choosing (setup when I opened the account).

m463 2y ago
I thought zelle was riddled with fraud?
- PaulDavisThe1st 2y ago
  Perhaps. I use it to get cash to family members, no issues.
rmsaksida 2y ago
Yeah Pix lets you choose limits. There's decent granularity for those, you can pick max $ per day, per transfer, per period, and per device. There's a caveat that when you increase a limit it takes a day or two to come into effect (basically to avoid people being forced to increase their limits by criminals).

tekno45 2y ago

what system protects you from being coerced at knife point?

m463 2y ago
Writing a personal check? Stolen cellphone? Cryptocurrencies are full of scams because you can't put the money back, and some are anonymous.

lucasoshiro 2y ago

> Is it safe? Given the dimension of Pix, I never heard of someone losing money directly because of using it (for example, here in the past was common to see where credit cards were cloned) > can someone be coerced into emptying their bank account at knifepoint? There are limits of use. Banks have different settings for limiting the amount of money that will be transferred in different situations, like when using their apps outside a trusted network, at night, etc > Are there scams? Just like any other payment method. I dare say that it is even safer, as some banks (e.g. Nubank) alerts if you are trying to transfer money to a suspect account. > Can stolen money be retrieved? Perhaps if you contact the bank, but as far as I know it is not a feature :-(

tpougy 2y ago
> Perhaps if you contact the bank, but as far as I know it is not a feature :-( Acctually there is a feature to request the central bank to retrieve money stolen through PIX scam. It is called Special Return Mechanism (MED PIX). Link here: https://www.bcb.gov.br/meubc/faqs/p/o-que-e-e-como-funciona-o-mecanismo-especial-de-devolucao-med https://www.bcb.gov.br/meubc/faqs/p/o-que-e-e-como-funciona-...
- lucasoshiro 2y ago
  Thanks for your information!