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BRL – Brazilian real

Overview

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. Please note that payments to Broker Dealers as well as payments to football/soccer teams are not supported

Currency Guidelines

Besides the standard information, the IBAN format is mandatory (see Appendix VI).

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 beneficiary’s tax ID ; CNPJ number for legal entities (fourteen digits) or CPF number for individuals (eleven digits)

  • The contact details (phone number, email address, etc.)

Please be aware that there is a pre-trade set-up. The beneficiary will be contacted to complete some documents. It is only when all required documents are approved that the funds will be released. Failure to contact the beneficiary or to fill-in all the required documentation will result in payment rejection.

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES

To consult the Appendix(es) click here

Appendix VI: IBAN Application Rules
Additional information

Available charge option: OUR/SHA/BEN

Central bank of Brazil: http://www.bcb.gov.br/?ENGLISH