All about International Shipping: 10 most common questions.

Thousands of foreign exchange operations are carried out in Brazil every day. The purposes range from foreign trade services, including foreign investments, profit remittances, interest payments, to operations such as international remittances to pay for services and keep relatives outside the country, for example.

International remittances are part of the routine of those who need to carry out financial transactions in other currencies and having foreign exchange specialists can be the fundamental difference between having better and worse deals.

But after all, how to ship internationally? To make this process easier to understand, the Ouribank Blog listened to Raphael Coracini, a specialist in international transactions and one of those responsible for servicing PJ clients at Ouribank, who answered the most frequently asked questions on the topic. Check out the following:

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1. What is international shipping?

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International remittance, or international transfer, is the name of every sending or receiving of funds in foreign currency. The transactions serve to fulfill any financial obligation outside Brazil and can be carried out in any currency for all international destinations.

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2. What are international shipments for?

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These financial transactions are international payments that can be carried out for a number of reasons, for example, buying or selling real estate abroad, sending money to relatives living outside Brazil, hiring international consulting services, foreign investments, international advertising vehicles, software, royalties, increasing and reducing corporate capital, acquiring or selling companies, invoices for international services, contributions, etc.

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3. Who can ship internationally?

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Individuals and companies can carry out the operations. For example, an individual who bought a property in the United States and needs to make the payment in dollars, someone who needs to send money to their child who lives outside the country, or a client who wants to invest in shares abroad.

The reverse path is also true and Brazilians can receive funds from abroad in various cases, such as inheritance, dividends, or service provision in companies with headquarters in other countries.

In addition, exporting and importing companies also use international shipments on a recurring basis to buy raw materials and products outside the country or receive for services and items sold beyond Brazilian borders.

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4. What do I need to make an international shipment?

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To make or receive an international payment, it is necessary to hire a bank or an institution authorized to carry out foreign exchange operations. Then, it is necessary to open an account with a bank authorized to operate with foreign exchange and present supporting documentation for the shipping operation. For example, the contract for the purchase and sale of a property or the invoice for a service provided.

In addition, for compliance reasons, it is necessary to show financial capacity to make the international shipment and prove the origin of the money. This also applies to cases of receipt of funds.

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5. Are there costs to ship internationally?

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There are no costs. What can cause the values to fluctuate is the exchange value of the currency in question at the time of closing the transaction. Therefore, it is important to have agents prepared to help you find the best time to close the exchange.

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6. Are there limits or minimum amounts for international shipments?

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There are no minimum or maximum amounts, but proof of financial capacity is required. Those who need to send or receive small amounts can opt for the simplified Ouribank account, where the entire process is carried out quickly and online.

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7. Is it necessary to follow the process personally?

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At Ouribank, regardless of the size of the client, all steps are carried out using online tools, which present the quotes in real time. In addition to agility and practicality, this provides autonomy for customers, generating operational gain and a better experience.

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8. What are the most common shipping types?

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At Ouribank, most international remittances to individuals are made in the nature of availability, when the amounts are transferred to accounts with the same ownership. The nature of sending students abroad for maintenance is also quite common.

In the case of companies, foreign trade operations account for about 60% of transactions, followed by dividend remittances, when companies based in the country send profits to headquarters outside Brazil.

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9. What are the most frequent destinations for international shipments made by Brazilians?

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China is the champion destination and about 90% of the operations carried out by companies are destined for the Asian country, which is a major source of raw materials and products to supply the domestic market. On the other hand, countries such as the United States and the territories that make up the European Union are the most traditional destinations among individuals.

10. What are Ouribank's differentials?

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With over four decades of expertise in the foreign exchange market, Ouribank specializes in the subject and has complete solutions for those who need to send or receive money from abroad.

One of them is the agility in the process. The bank is able to carry out international operations in a few hours and has the advantage of having an extended schedule for this purpose between 9 a.m. and 6 p.m. Generally, the other banks operate between 10 a.m. and 4 p.m.

Due to the extended hours, Ouribank is able to receive a remittance request at 17:30 and make the amount arrive at the requested location the same day, if there are still bank records at the destination.

In addition, with a desk of specialists available to clients, it is possible to find the best exchange rates for those with time flexibility. For example, it is possible to ask analysts to monitor the desired currency and to announce the most advantageous period to carry out the operation.

To make an international remittance with the support of Ouribank specialists click here.

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