TEV: get to know this type of banking transaction

If you've ever made bank deposits or transfers, you've probably come across TED and DOC, the two most popular ways to transfer money. But there's another option: TEV.

To help you understand how it works, whether it's worth it, and how to do it, we've gathered all the information you need in this article. Read on to learn more about this transfer method and how it works.

What is a VTE?

Electronic Value Transfer (EVT) is a transaction method that allows you to transfer money between accounts with different account holders. Unlike TED and DOC, EVT offers faster processing times, making it an agile option for moving funds.

However, it's important to note that a TEV can only be made between accounts at the same bank. For example, if you have an account at Caixa, you can only make a TEV to another Caixa account. This restriction is established to ensure the speed and efficiency of the transaction, as the financial institution has direct control over both accounts involved.

When you make a TEV, the amount is instantly debited from your account and credited to the recipient's account within 10 minutes. Therefore, by checking the TEV symbol on your account statement, you can be sure the transaction was made within the same bank, ensuring fast completion.

How to perform a VTE?

To perform an Electronic Value Transfer (TEV), you need to follow a few simple steps. The most important thing is that the accounts involved in the transaction are from the same financial institution. Here's how to complete the transaction:

• Have the beneficiary's branch number and checking or savings account number handy. You don't need to have any other personal information.
• Choose how to complete the VET: at the bank's ATMs, via the mobile app, online banking, or even over the phone, depending on the options offered by your financial institution.
• Access your chosen platform and find the option to make transfers. This option will usually be clearly identified in the main menu.
• Enter the amount you wish to transfer. Make sure you enter the amount correctly to avoid errors.
• Fill in the beneficiary's details, including the branch number and checking or savings account number. Double-check the numbers provided to ensure accuracy.
• Complete the transaction according to the instructions provided by your chosen platform. Depending on the method used, you may need to confirm the transaction with a security code, password, or additional authentication.

After completing the transaction, the transferred amount will be immediately deducted from your account and will soon appear in the beneficiary's account. Remember to check your account statement to confirm the transaction was successful.

What is the difference between TED, DOC and TEV?

Now, see a comparison and learn the difference between the three types of bank transfers:

• DOC stands for Credit Document, which refers to transfers of funds between accounts held by different account holders. This type has a clearing period of up to 48 hours, meaning the transferred amount is credited to the beneficiary's account the day after the request (D + 1).
• TED stands for Available Electronic Transfer and allows the transfer of funds between independent accounts. In this case, the amount can be credited to the beneficiary's account in up to 10 minutes, either via electronic transfer or direct deposit.
• TEV, or Electronic Value Transfer, is a transfer method between different accounts, but must be within the same financial institution. Like TED, funds transferred via TEV are credited to the beneficiary's account within 10 minutes.

What is the TEV transfer cost?

When making an Electronic Value Transfer (EVT), there are no fees to be paid at the time of the transaction or later. This is because the transfer is made within the same financial institution.

This condition applies to both individuals and legal entities. If you are charged any type of fee when using a vehicle inspection, it's important to contact your city's Procon (Procon) to protect your consumer rights.

How long does a VTE last?

An Electronic Funds Transfer (EFT) is typically completed quickly and instantly. The transferred amount is typically credited to the beneficiary's account within 10 minutes of the transaction.

However, it's important to note that the exact time may vary depending on the system and internal policies of each financial institution. Some TEV transactions can be processed instantly, while others may take a few minutes, depending on factors such as network demand and service availability.

If there is a significant delay or if the transfer is not completed within the mentioned timeframe, it is recommended to contact the bank or financial institution responsible for obtaining updated information on the status of the transaction and clarifying any questions or problems that may have occurred.

What is the TEV transfer limit?

The bank transfer limit between accounts at the same institution depends on several factors, mainly related to the financial institution, which defines the amount that can be transferred.

At Caixa, for example, the transfer amount to another Caixa account is R$1,000 per transaction. However, if you need to make a transfer larger than this, you can access the system and adjust your TEV limit. To do this, you'll need to contact the bank or go to "Limits" in the app to adjust the transfer limit.

Frequently asked questions

Check out the answers to some of the main questions about VTE now.

Does the TEV box fall off immediately?

Banks require up to 10 minutes for the transfer amount to arrive via TEV. However, when making this type of transfer, it's normal for the money to arrive immediately. If it doesn't arrive within the stipulated time, you should contact your bank branch.

Is it possible to do TEV between different banks?

No. Electronic Funds Transfers are a method that occurs between accounts at the same bank. For other banks, you can make a TED, DOC, or PIX transfer.

Cred tev how to know who deposited?

Cred TEV is the acronym used by Caixa to identify bank transfers from accounts within the same bank. To find out who sent the transfer, you have two options: contact your account manager, explain the situation, and request information about the deposit in question; or contact the digital bank, report the incident, and provide details about the deposit in question. The bank will have access to the bank transfer information and can perform the necessary checks to identify the depositor based on the CPF or CNPJ involved in the transaction.

Does TEV fall on Saturday?

One of the great advantages of TEV is that you can make this type of transfer at any time, any day, any day. In other words, TEV is available on Saturdays, Sundays, evenings, and whenever you need it. The important thing to consider is the transfer limit your bank allows.

What is the schedule for VTE?

There's no time limit for making a VET. You can do so at ATMs during branch hours (generally from 6 a.m. to 10 p.m.) or through digital banking at any time.
Just pay attention to the amount you can transfer. At Caixa, for example, you can transfer up to R$1,000 during the day, and it's generally limited to R$1,000 from 10 PM to 6 AM.

Is it possible to cancel a TEV?

You can only cancel a bank transfer if it hasn't yet been completed, meaning the money hasn't been deposited into the other person's account. If the transfer has been completed, you must contact the person to request a refund.

At Caixa, for example, you can talk to the manager about DOC, TED, and TEV transfers if they haven't already been processed and cancel them. Since TEV transfers are usually instantaneous, you'll rarely be able to cancel them.

Did you enjoy the information about TEV? See more tips about bank transfers on our website.