Receive local wire transfers in BRL (Brazil)

Overview

A local BRL wire transfer moves funds between banks in Brazil in the local BRL currency. This method is valued for its reliability, convenience, and speed, since it sends funds directly from one bank account to another within the country.

Supported currencies

• Brazilian real (BRL)

📌 If the currency of your balance in Smartcat is different from BRL, the funds are converted to BRL at the Smartcat exchange rate on the day of the payment.

Commission

3 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.

You can view a list of companies that reimburse your commission in the My Payouts section (click the Learn more button on your payout method).

Minimum payout amount

50 BRL

Smartcat lets you set the minimum amount from which a payment is sent to you. To learn more, see "Minimum payout amount".

Required details

Advantages

• Cheaper than an international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer

• Speed. Payouts are processed within 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 use the money in your country right away

FAQs

I chose this method, but the payment was rejected. Why?

Do the following:

• Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)

• Make sure the postal code, city, street, and house number are specified in the corresponding fields of the details. 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 the name of the account holder is entered exactly as it appears 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 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, enter the following Smartcat details in your invoice:

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