I intend to send a wire transfer to Bradesco Bank in Brazil?Can I send transfer through my local bank or do I need to send through the attached banks as responder notes............. The proper name for this bank is Banco Bradesco S.A. Their head office is in Sao Paulo. Their main swift code is BBDEBRSP Your bank can use JP Morgan Chase or Bank of America or Deutsche... | |
Your bank will send the wire transfer to any of the corresponding banks mentioned above. It is your choice to choose the corresponding bank. Personally, I would choose JP Morgan Chase.
Lets say for example that your bank sends it to Chase. They will credit the account of Banco Bradesco with Chase. That is why Chase is the corresponding bank. Banco Bradesco has an account. They will be notified of the credit via Swift- Swift Message (MT 103).
Please keep in mind. That you are sending a payment to Brazil. Not the easiest country to deal with. - Whoever the beneficiary is, cannot receive U.S. Dollars. And you are sending a U.S. Dollar payment.
The beneficiary will receive Brazilian Real. (That is the currency in Brazil). Brazilian banks have strict guidelines for someone to receive money from abroad. The Beneficiary will have to go into their local branch of Banco Bradesco and fill out mountains of paperwork. Once that is done, then the transfer will be converted from U.S. Dollars to Brazilian Real. And they should not have a problem having the money posted to their account.- This is the general rule with Brazilian Banks but you should have the beneficiary check with their branch of Banco Bradesco as to what he/she will need to retrieve the money into his/her account.
Speaking of account. Make sure you have all the account information. Brazilian accounts have 18 digits and it is called a "CLABE" number. Just like IBAN's are to Europe.
Your bank must format the foreign wire this way.
This is an example only.....
1) Beneficiary Bank: Banco Bradesco S.A.
2) Swift Code: BBDEBRSP
3) Beneficiary Name: John Doe
4) Beneficiary Account Number: CLABE 123123123456456456 (rembmer 18 digits and clabe MUST be mentioned before the account number)
5) Intermediary Bank: JP Morgan Chase
6) ABA/Routing Number for Chase: 021000021
Additional info: Purpose of the payment. Branch name and address where the account is located.
If all goes well and if the beneficiary follows thesse guidelines that I mentioned above.- then typically it should take 1-5 business days for the payment to finally go through!
Should you have any questions pls feel free to contact me.
Good Luck!
P.S. You can only send U.S. Dollars through the FED. Most banks will not convert to Brazilian Real and the banks in Brazil know this.
give me some bank contact in brazil
yes --could take up to 7 days -- if you want faster go to western union!!!!
