TEV is an acronym that stands for Electronic Transfer of Values . VTEs are transfers between different accounts of the same financial institution. DOC and TED are used for transfers between accounts of different banks.The TEVs can be made between current accounts and between savings and are free if they do not exceed the limit stipulated by the bank for gratuity of the service.
What is the difference between VTE, TED and DOC?
- TEV: the Electronic Transfer of Securities is performed between accounts of the same bank. The amount is credited in a maximum of 10 minutes after the operation.
- TED: Available Electronic Transfer is carried out between accounts of different banks and is credited to the account of the beneficiary in a few minutes if it is carried out until 17h. After this time, the amount drops the next day.
- DOC: The Credit Document is also a transfer between different banks, but is limited to the amount of R $ 4,999.99. In this case, the amount goes into the account the next day if it is held until 9:59 p.m. If the amount is transferred at 10:20 pm, for example, it will only be entered into the account on the second business day after the transfer.
How to perform a VTE?
The VTE is an easy transfer to carry out, just have the agency number and current account or savings in hand. It is not necessary to have the full name and the CPF or CNPJ, as in the case of TED and DOC.
Is VTE charged?
The Central Bank determines the minimum number of transfers between accounts of the same institution that must be free of charge and, from this, each bank defines the maximum number. After the maximum number of free transfers, the fee may be charged.
It is different from transfers between accounts of different institutions, such as DOC and TED. In these cases, there are always fees, which vary according to the institution.
What are the advantages of performing VTE?
The Electronic Transfer of Values is a safe, quick and practical method to be carried out. The VTE can be performed in a few clicks from the computer, the cell phone, or the service terminals.
The transferred value is sent to the destination account on time, and a maximum of 10 minutes must be waiting for the value to be credited. And this is not only valid for weekdays, weekends and holidays this transfer is carried out just as quickly.
VTEs are also easier to identify than a cash bin, which increases the security of the cashier.
What does CRED TEV mean?
A very common doubt is about the meaning of CRED TEV, an acronym found in bank statements of the bank Caixa Econômica Federal. This acronym indicates that the amount was transferred from another account of that bank to the account in question.
The other banks, despite having the option of Electronic Transfer of Securities, identify these credits differently. Banco do Brasil, for example, identifies a VTE in the statement with the word transfer and the name of the account holder of origin.
In case of unidentified VTE
In case of credit of an unidentified VTE in the bank statement, it is recommended that this money not be used and that you contact the bank to verify the origin of the value.