Payments sent to Brazil have specific requirements for processing. To avoid delays and ensure a smooth transaction for BR payments, please review the criteria below:
Preparing an Invoice
- An invoice is required for payments of USD $3000.00 or more
- ‘Bill to’ - This name must match the legal Business Name of the payer
- ‘Beneficiary/Payee’ - This name must match the name as registered with the National Registry in Brazil (for Businesses) or the individual name (as per on the bank statement)
- If Business - Beneficiary Name on Veem must correspond to the bank account associated with CNPJ tax ID details
- Individual - Beneficiary Name on Veem must correspond to the bank account associated with CPF tax ID details
- Include a detailed description of the Purpose of the Payment
- The due date included in the invoice should not be too close. We need a few (2-5) business days to verify and process the payment once the invoice is accepted.
- The invoice amount must match the payment amount
‘Purpose of Payment’ Code
In order to process payments to Brazil, a country-specific ‘Purpose of Payment’ code is required. This must be selected at the time of payment creation from the drop-down option menu. The following are the acceptable codes.
- Architecture and Engineering Services
- Legal Services
- Other Technical or Administrative Services
- Computing Services
- Tourism Services
- Financial Services
- Audiovisual Related Services
- Publicity and Marketing Services
- Purchase of Goods
- Purchase of Other Services
**Please note that including the respective POP code in the invoice details followed by a detailed description of the reason for payment enables prompt validation and successful payment processing.
Ready to create a payment? Click here.
Still, need help? You can chat or call our Customer Success team here.