BRL – Brazilian real
BRL is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency cannot be sent outside of Brazil.
Besides this limitation, this currency is considered to be complex: In most cases, the final beneficiaries will have to contact their local branch to release the funds, while in some cases, the beneficiaries might be required to sign documents to authorise the release of funds. This emphasises the importance of adding the beneficiary’s telephone numbers in the payment instructions.
- Currency Guidelines
Besides the standard information, the IBAN format is mandatory (see Appendix VI).
The full name (written out in full, without initials, abbreviations or acronyms) and the physical full address of the beneficiary are mandatory.
A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
Additionally, it is mandatory to provide in the remittance information:
• The agency code
• The beneficiary’s tax ID ; CNPJ number for legal entities (fourteen digits) or CPF number for individuals (eleven digits)
• The beneficiary’s telephone number
• The beneficiary’s bank full address (exact branch location)
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
To consult the Appendix(es) click hereAppendix VI: IBAN Application Rules
- Additional information
Available charge option: OUR/SHA/BEN
Central bank of Brazil: http://www.bcb.gov.br/?ENGLISH