2. BoletoBancáriois closely related to the Sistema de PagamentosBrasileiro(Brazilian Payment System) also known as SPB.
Sistema de PagamentosBrasileirois a set of procedures, rules, instruments and integrated operations that electronically support financial transactions between economic agents and the Brazilian market. It aims protection against leaks and against the breakdown of financial institutions.
Its main task is to allow the transference of financial resources, the processing and the payments liquidation for private people, legal entities and governmental institutions.
3. How to issue a BoletoBancário?
Your bank will have to authorize your account to issue boletobancário.
Banks have different pricing schemes so you will have to choose one that match the volume you plan to issue.
Some banks have very strict policies for individuals that want to issue boletobancário.
4. Types of Collection
Registered collectionconsists on sending billing information beforehand to the bank through collect commands file of several types -the most common are CNAB and/or FEBRABAN -in order to enable additional services such as printing and mailing of boletos, reporting tools, control of collection, payment status, and alterations to mention a few.
Some banks use CNAB 400 standards and others use FEBRABAN 240, and others yet use both. A few banks will have their own layouts. In order to collect, the Cedente(Merchant) must send the appropriate file to his bank. The type of file accepted for the Merchant's account should be informed by your bank account manager.
5. Unregistered collectionentails the receipt of bills without previous registration of these in the banking system, which means that the bank will receive the payments due, credit the appropriate account and deduct bank collecting fees. The Merchant can issue their own boletosspecifying bank and any other information they deem necessary. The bank will by means of magnetic archives, files or other, transmit bill and payment information to the Merchant.
6. How to pay?
The payment process for BoletoBancáriotransactions is similar to many other payment methods. It is a Consumer push-payment, which relies on the Consumer initialize the payment action.
One difference between cash payments is that with BoletoBancário, consumers may also pay with their online banking. Once the payment is made, a payment confirmation is provided in real- time, while the funding can take an additional period of time.
There are no built in logic for direct debit nor recurring payments in the boletobancárioscheme.
7. Overdue rules
When paid after the due date period, the client has to pay a fee that increases daily and its value varies from bank to bank.
Besides the fee, after the due date the client can only pay the boletoat the bank that issued it, losing the option of paying it at the post office, lottery houses or any other facility.
8. Fees involved
Banks charge a fee over every boletopayedby the client. This fee varies from BRL 1,00 to BRL 12,00, depending on the bank. If the collecting is registered, then the bank will also charge a fee for every issued boleto, regardless of whether it was paid or not. Therefore, unregistered collection is more suitable for online transactions.
The bank also takes into account the size of the client, so a client with a higher volume of banking transactions, who has been working with the bank for a while, etc, is able to get lower fees or even fee exemption. Therefore, it is important to consult your bank about the fees involved.
