segunda-feira, 8 de julho de 2013

International Bank Account Number (IBAN) - Sending money to Brazil

Brazilian banks always give foreigners a hard time when it comes to international transfers.

I mean, a really hard time. It is not unusual to wait up to two weeks before a wire transfer from the UK is available to a Brazilian account holder. And, when it is finally available, the bank will usually require a long list  of documents before clearing the funds.

Until last week, Brazilian banks did not use IBAN (short for International Bank Account Number). Only swift codes.

This was awkward, of course, because European banks adopt IBAN. The mismatch was inevitable.

Starting this month, Brazilian banks are forced to accept and provide IBAN identification to their clients. I hope this makes things easier for everybody.

The rule is here, in Portuguese.

You might also want to read:

Getting money into your Brazilian company - a few common problems

Opening a Brazilian Bank account for non-residents

A cool Brazilian blog: Brazilphenomenon (brings details about swift and IBAN)

Um comentário:

  1. Brazil banks always give people from other countries difficulties when it comes to international banings. And the bank will usually need a long list of documents before clearing the funds. Sometimes it create problem
    International banking


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