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. 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.)
Important: The Brazil Foreign Exchange Regulation is requesting from each beneficiaries a onetime registration set-up to receive cross-border payments in local currency. As a result, BNP’s local providers request beneficiary details in the remittance information field to contact the beneficiary and ensure set-up and registration. Those details can be provided ahead of the payment to facilitate the whole process. When making local currency payments to entities domiciled in Brazil, it is expected that all beneficiaries are aware of documentation requirements both at registration and at FX / payment execution.
Note: If a beneficiary has not been registered yet, the payment will not be rejected but the credit to the beneficiary is likely to be delayed. BNP’s local providers will work with the beneficiary in Brazil (based on the contact details provided in the remittance) to register the beneficiary. Only once registration is complete, the FX and credit to their account can be executed.
- 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