Local wire transfers in BRL (Brazil)
A local BRL wire transfer is a transfer of funds between banks in Brazil in the local BRL currency. This method is valued for its reliability, convenience and speed, as it provides a direct transfer from one bank account to another within the country.
Supported currencies
Brazilian real (BRL)
Please note that if the currency of your balance in Smartcat is different from BRL, the funds will be converted to BRL at the Smartcat exchange rate on the day of the payment.
Commission
2 BRL
You can view a list of companies that are reimbursing your commission in the My Payouts section (click on the Learn more button on your payout method).
Minimum payout amount
15 BRL
Smartcat allows setting the minimum amount, starting from which the payment will be sent to you. You can learn more in the article "Minimum payout amount".
Required details
Field | Individual | Company | Description |
Beneficiary type | ✓ | ✓ | Individual or company |
Beneficiary first name | ✓ | ✕ | Name of the individual beneficiary |
Beneficiary last name | ✓ | ✕ | Last name of the individual beneficiary |
Birth date | ✓ | ✕ | Beneficiary's birth date |
Beneficiary company name | ✕ | ✓ | Beneficiary's company legal name |
Account number | ✓ | ✓ | Beneficiary's bank account number |
Recipient’s country | ✓ | ✓ | Beneficiary's country |
Recipient's city of residence | ✓ | ✓ | City or town from the beneficiary's address |
Recipient's address | ✓ | ✓ | Beneficiary's address, including building number or name |
Recipient's postal code | ✓ | ✓ | Beneficiary's postal code |
Recipient's phone number | ✓ | ✓ | Beneficiary's phone number |
Bank state | ✓ | ✓ | The state in which the branch where the beneficiary's account is located |
Branch city | ✓ | ✓ | The city in which the branch where the beneficiary's account is located |
Bank name | ✓ | ✓ | Name of the bank receiving the funds |
Branch | ✓ | ✓ | 4-5-digit code of the bank branch where the beneficiary's account is opened |
Bank code | ✓ | ✓ | Three-digit beneficiary's bank code |
Recipient's account type | ✓ | ✓ | Savings or checking |
Tax status | ✓ | ✓ | Individual or company |
CPF | ✓ | ✓ | Individual tax number (specify CNPJ if the beneficiary is a legal entity) |
Advantages
Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer.
Speed. Payouts are processed up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side.
Funds are received immediately in the local currency. You do not spend money on additional conversions and can immediately use the money in your country.
Frequently Asked Questions
I chose this method, but the payment was rejected. Why?
Act as follows:
Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer).
Make sure that the postal code, city, street and house number are specified in the corresponding fields of the details. Make sure that you do not enter a PO box or email address instead of your residential address.
Verify the accuracy of the data provided (account number, bank name, bank code, branch code, account type, CPF/CNPJ).
Make sure that the name of the account holder is entered in the details exactly as it is in the bank details, including all spaces and symbols.
If the details you provided are correct, contact your bank branch to find out the reason for the rejection of the payment on the bank's side.
I cannot find the payment. What does the payment look like on the bank statement?
The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.
SMARTCAT EUROPE BV or VITESSE is displayed as the sender, depending on the beneficiary's bank.
For which countries is this method available?
The method is available exclusively for receiving funds to a Brazilian bank account.
I received a payout from Smartcat. I need to invoice for this payment. What details should be used for issuing such invoices?
When receiving funds by local wire transfer in BRL, you need to enter the following Smartcat details in your invoice:
Legal address: Strawinskylaan 613, 1077 XX Amsterdam, the Netherlands