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Who is Boleto Bancário

Boleto also knew as Boleto Bancário refers to a payment method in Brazil whom are regulated by the Brazilian Federation of Banks or FEBRABAN in short. ‘Boleto Bancário’ accurately means “bank slip” or “bank ticket” therefore allowing the Brazilian market means to pay bills, make a payment or transfer money electronically, while funding these transactions with cash. In addition, Boleto Bancário provides electronic payment systems that are very popular and used by millions of Brazilian customers due to the many links and associations with numerous Brazilian banks. On a monthly basis, no less than 50 million Boleto Bancário payments are processed.

What is Boleto Bancário

This is a payment method that transforms deposited cash into an electronic payment transaction by the use of a bank slip known as the boleto. The folder of the slip (money converted to an electronic transaction) can then issue payments to the receipt. Also, this slip contains information about the amount, the payment ID, date of issue, the recipient of the payment and more importantly, how long the slip is valid for.

To retrieve cash from the slip, it must be taken to a bank, post office or retailer that accepts boleto pays. The slip has a 44 digit code which holds transactional information, and once legitimatized, the recipient will receive cash. Bear in mind that the slip has an expiry date. Make sure not to miss the transactional time frame as the form cannot be reused after expiration date.

The payer will receive a part of the boleto bank slip together with a confirmation of payment. This is just one of the processes of making payments using the boleto system, you can also make online transfers by internet banking or via the ATM. Payments on average will generally take as little as 3 banking days to process and complete the transfer. The recipient will be notified by the bank and the recipient in turn notifies the payer and delivers the goods or services.

Advantages of using Boleto Bancário

Using Boleto Bancário offers a safe way to make payments, whether electronically via internet banking or manually such as cash. Clients benefit from anonymous payments as payers are not required to identify themselves at the moment of paying the boleto, in a bank or other entities that accept boleto payment methods. Most online casinos accept payments using the Boleto and there aren’t any service fee charges from using this system, however the casino might carry its own charges. In conclusion, this is a unique payment option!

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