B2B money transfer

By | Banking, Money transfer

Receiving money for shipments is not always straightforward for global exporters. Here we give an overview and tips about B2B money transfer. SWIFT transactions can be expensive (3-6%). SEPA payments are free, but only in Europe. Using a service such as B2B Pay can be a way to profit from SEPA.

B2B money transfer: an overview

Money transfer commonly states to one of the subsequent methods of payment systems, Electronic funds transfer, an umbrella term mostly used for bank card-based payments, Wire transfer, an international expedited bank-to-bank funds transfer, Money order, transfer by postal cheque, money gram or others.

The infrastructure that the money transfer is based on had to be made secure and reliable. For that companies use Linux based operating software with multi-level firewall protection and the transactions are encrypted using complex algorithms specifically designed for the purpose.

Business to business money transactions

Banks often charge a processing fee, which can be a flat fee, usually around 30 euro or 50 USD. What banks don’t tell you, there’s a percentage ranging anywhere from 3-6% on top of that, calculated from the mid-market price. Business to business (B2B) money transactions allows businesses to reduce costs, usually by a very major amount, and to simplify payments, because B2B transactions are direct and no banks are included in the middle of the process.

As the modern world has transformed into a universal community, businesses have also evolved internationally. Sending money is not confined to a physical cash dealing between two people because business organisation’s relations are not subjected to a local area or a demo graph anymore, hence the need for the B2B transactions emerged. B2B transactions are important, so that a business can extract the required output result from another business in form of raw materials or manufacturing logistical support.

B2B money transfer

Methods available for B2B transactions

Lately there’s been a rush in the online world including business to business payments. Lots of startups have launched platforms to create simpler business to business money transactions, several companies are grasping and using business to business payments as a method to cut costs and simplify payments, and countless organizations are using them as a way to reduce security risks related to paper checks such as hacked bank accounts, fake checks, or forged signatures.

Global B2B payments methods include Wire transfer, domestic and international ACH, Paper checks, prepaid debit cards and PayPal. Studies show that wire transfer, also known as the SWIFT and credit transfer is the most used method for B2B transactions nowadays. Within Europe SEPA payments are very common to make payments from one European bank account to another.

The new world’s fast track for sending money

In today’s world, people have gotten physically distant but are more connected socially, as the world has morphed into a global village. People have gone farther apart in pursuit of a better career or to support families, transferring money and funds was an issue of the modern day world, which had been resolved by money transfer services from anywhere around the world.

Understanding B2B money transfer

B2B money transfer is the transfer or exchange of any amount of money from one business enterprise to other on the basis of some product that is bought by one. This transfer of money is done through online banking nowadays and therefore requires certain methods to exchange money over the web. The methods used in B2B money transfer depend on the website or the organisation that decides which approach is more suitable.

In global transactions a B2B payment is most often initiated by the importer with their local bank. This means a wire transfer. Consequently the exporter bears the costs for the transaction.

Payment approaches followed

Different transfer and payment methods are available. Many of the firms choose to go for online debits or credit cards. Use of cheques is also done but is very rare outside of the United States, where these things are spelled checks and still used a lot. Usage of online debits or credit cards is the simplest one. While transferring money using online cards, you may be required to provide detailed information about the card, like the card number, name of the card holder, the expiration date on the card, and more. Once you are able to provide such information, the process of money transfer become very easy and quick. 

System of transactions

There are different transfer systems that are usually followed in B2B Money Transfer, these include SET (Secure Electronic Transactions), BBSePay etc. A new concept of ‘e-Invoice’ is also making its way in the B2B money transfer world.

This type of system involves two types of characters i.e. the creditor and the debtor.

  • the creditor transfers some amount of money online or over the internet
  • on the other hand the debtor is the one that will withdraw money from the bank once the creditor has transmitted it

There is an agreement that is made by the debtor with the respective bank that will receive the money from creditor.

Why I should go for online banking?

Online banking today is used vastly by an increasing number of organizations in their businesses as well as by people for their personal use. The reason for using this approach is its ease and simplicity. In the long run these organizations are in a need of a secure system for their exchange of money such that the money as well as the data regarding exchange is kept in a form which is accessible to the organizations involved only, keeping it secure from any third party or unauthorized accessibility.

Free of geographic limitations

B2B lets you enjoy exchange of money on the basis of the services offered between different buyers and sellers worldwide. The basic advantage of deciding to choose b2b online approaches of money transfer is also often the result of an objective of getting oneself free of the limitations faced due to geography.

More information



Virtual bank account in Ireland

By | Money transfer

Banking is going through a revolution. The fintech revolution. Instead of branches and brokers you can simply obtain financial products through online interfaces. This saves a lot of time and money. It has also become a lot easier to open bank accounts abroad. In 2017 it will become possible to open a virtual bank account in Ireland through B2B Pay.

There are different ways to send international payments to other countries like Ireland. When you make international payments you will need the full name and address of the recipient. The transaction requires you to provide the business or person’s IBAN or International Bank Account Number and name of the bank the recipient uses. Others details you will need to provide are the BIC Bank Indentifier Code and SWIFT a clearing code. The last detail is the amount you want to transfer.

The International Bank Account Number, Bank Indentifier Code, and SWIFT codes make transfers more secure and faster. They keep payments from being delayed or rejected. When sending money across borders there are often fees involved in the transfer. These fees are banking fees and exchange rate differences. Fees vary depending on the service used and bank. Exchange rates will vary depending on the country you send the payment to.

What Type of International Payments Are There?

One common type of payment is a SWIFT payment. It stands for the Society of Worldwide Interbank Financial Communications. This system is designed to transfer money between different countries. A payment often takes one day within Europe and longer from other countries. There are fees associated with this service.

SEPA is a European banking effort to make electronic payments in Europe simple and easy. To make payments using this system you will need an International Bank Account Number and BIC to make or receive European payments. The Irish branch Nationwide UK Ireland sends credit transfers through this system.

Virtual Bank Accounts

A virtual bank account through B2B Pay let’s you get the exact service you want without dealing with a standard bank account. It provides a simple way to do business without bank statements and audit reports. If you want to collect payments or are business without heavy volume you may want to delay using a traditional bank account. With a virtual account you can receive payments without fees.

If you are not a resident this is an option to consider. B2B Pay does a compliance check and issues you an International Bank Account Number. This number can be used on invoices and contracts with customers. You can transfer money from all 34 countries in Europe. It will transfer the money to a domestic bank account for a better fee. It is easy to set a up and account and requires no maintenance fees.

When the money is transferred you will get a notification Many virtual banking services offer direct deposit, money transfer, and mobile banking services.

Sending money to Bosnia

By | Money transfer

Have a need to send money to friends or family in Bosnia? If so, there are many different options available. The right option depends on a few factors, including how the recipients are able to receive the money and how much you are looking to send. So, before you settle on the first option available, make sure to look over these different sending money options.


Azimo is a quality service with lower than normal fees, depending on the option you go with. There is one option, which offers a $2.99 fee plus a 1.6% exchange rate margin. The option is a $6.9 fee that doesn’t have any sort of an exchange rate or total cost percentage. Both of these options take about three to five days for the money to transfer over. When comparing money transfer options, you not only need to look at what it will cost but the transfer time. If the money needs to get there instantly, you may want to look for other options, but this one is on the lower end of fees when sending money to Bosnia.

Western Union

Western Union is possibly the longest tenured option available to you. WU has been around for over a century as everything from a mail currier to financial service. While you always need to weight it against how much money you are transferring. Western Union will cost you a $5.00 fee but there is no exchange rate margin. On top of this, the transfer will occur in less than 24 hours. With Western Union though there does need to be a set location around both you and the recipient in order to pick up the money.

Small World FS-LCC

Both Western Union and Azimo have the lower fees and exchange rates. This helps you save money whenever sending it internationally to locations such as Bosnia. Small World FS-LCC has the next lowest total cost percentage behind these two. With Small World FS-LCC the fee might end up being lower, again based on how much you intend on transferring. It comes with a $3.45 fee and a three percent exchange rate margin which comes to a total cost percent of four percent. It will take a bit longer for the money to transfer over though. It will transfer at some point within the month. This is more of a direct, physical money transfer option, if the recipient doesn’t have a traditional bank account for SEPA financial transfers.

Virtual bank accounts for cash management

By | Banking, Money transfer

A virtual bank account has the potential to significantly improve a company’s cash collections. Enhanced automation and accelerated cash centralization adds up-to-the-minute liquidity to enterprise accounting operations. For this reason, electronic payment via virtual banking is fast becoming the preferred source of payment across the globe.

Which payment instruments availed to customers for response to remittances can have a significant effect on an eCommerce or traditional company’s ability to improve cash flow performance.

How does a virtual bank account work?

Like traditional bank accounts, virtual bank accounts can be set up to receive paid in funds. Virtual bank accounts also enable an account holder to utilize the bank account number as a payment reference in reconciliation of intraday and end-of-day collection records by way of an automated reporting feature. For exporter merchants, a virtual account offers a solution to acceptance of multi-currency payment in international and eCommerce trade. Pricing of virtual bank accounts is charged on a per account basis or a per sweep basis.

Promoting Transaction Security

Virtual bank account architecture is supported by International Bank Account Number (IBAN) system transaction coding. Society for Worldwide Interbank Financial Telecommunication (SWIFT) system IBAN accord individual identities to each bank branch within the network. IBANs identify virtual accounts with designated codes used between two banking institutions to transmit transaction data or transaction communications. During a transaction, virtual IBANs verify settlement account numbers held by a corporation or business.

Virtual Accounts are Data Value Added

Remittance information gathered via a virtual bank account can be fed into an enterprise system automatically for reconciliation and control of financial accounts and outstanding invoices. Less expensive for businesses than manual reconciliation, virtual bank accounts can boost the efficiency of an enterprise, by reducing the cost, time, and error quality control associated with accounting and reporting. Electronic remittances may also support rationale for a company’s investment in new technology. Data value added transparency is the end result. When it comes to regulatory adherence to financial control, companies employing automated accounts receivable processing are more likely to survive an audit.

The Pros and Cons to Virtual Bank Accounts


The use of virtual bank accounts for collections and transactions enables a company to resolve barriers to to the account receivables reconciliation process by way of cash management centralization. For companies with multiple divisions, virtual account management enables a more effective and efficient method of managing a cash in the interest of on-time delivery.

The utility of virtual accounts can also be seen in implementation of payment gateway functions as part of a company’s value chain. The integration of a virtual bank account as part of a company’s enterprise system serves to decrease operational costs and transaction risks related to accuracy of account receivable reconciliation. The result: customer credit limit advancement and increased sales by synchronizing the financial supply chain with order operations.


One of the cons to using virtual bank account numbers to conduct business, is the pass-through aspect of a centralized, virtual bank account as cash account center for operations. Virtual accounts depositing transactions into a company’s centralized account do not hold value the general ledger at banks. This can cannibalize the fee stream from company division accounts, as well as cash pool sweeps. Yet there is still an upside in that bank revenue is likely to grow from transaction sweeps from division virtual accounts to header accounts, which provides cash flow for parent company operations and investment.

Virtual bank account providers

In Europe Barclays and BNP Paribas are two giant banks providing virtual bank account solutions. If you’re looking for a more affordable solution B2B Pay is worth checking out.


What are IBAN numbers?

By | Banking, Money transfer

Maybe you were told that you need an IBAN number. But you have no idea what an IBAN number actually is and would like to know what it is. Well, an IBAN number is defined as being an international bank account number. In fact, it happens to be a number that is assigned to all of the bank accounts that exist within all of the EU countries.

An international bank account number is comprised of a code that provides the identification information in regards to which nation the bank account originates in, the actual bank that holds the particular bank account of a person or company, along with the provision of the information of the bank account number as well.

One of the primary purposes for having an international bank account number is that this does tend to make it much easier to be able to perform the completion of cross border payments more efficiently and much more quickly. Thus an international bank account number does prove to be a very good and convenient thing to have, since it is very beneficial for making payments and sending money from country to country.

So it is only natural for one to wonder how an international bank account number is actually constructed, which we will attempt to explain here for the clarity and understanding of those who are curious about such matters. Well, it is important to first of all note that an international bank account number contains up to a maximum allowance of the usage of thirty-four alphanumeric characters. This is the standard that all banks must comply with.

The structure of an international bank account number is designed to include two letters that represent the home country where the bank account originates, such as “IE” to represent the nation of Ireland. There are two numbers that are designated to be set forth as the control key. Now there is the remainder of a maximum of thirty alphanumeric characters that are used to provide identification about which bank holds the account, along with the provision of the regular bank account number.

Note that you do not assign an international bank account number yourself. It is impossible for you to do this task yourself, as it is the bank that assigns this type of number to each of your accounts that you register. And it is important to note here that each bank has its own method of assigning an IBAN.

So with this information, you will be now more informed about an what an IBAN is and why you need one. Once you start using yours for cross boarder payments or for sending money, you will see how beneficial it really is for you.

B2B Payment from Europe to India

By | Banking, Money transfer

B2B Payment from Europe to India: for an Indian exporter, what are good ways to receive money for goods and services exported to Europe?

Europe is the most advanced continent in the world in terms of infrastructure, finance, science and education. The reason for all this success is the fact that it is the hub of all trade and commerce in the entire universe. There are countless European companies throughout the continent that conduct trade intracontinental as well as intercontinental. Due to the amalgamation of most of Europe into a single union called European Union, the trade and business conducted within the continent has been made pretty comprehensive. Most business owners can now relax when it comes to worrying about the rules and regulations of all these countries as a whole because the EU oversees all transactions.

On the other hand, import and export between countries from outside the European Union and the countries that are part of the European Union, are comparatively complex. But fortunately, carrying out trades and the relocation of money from one place to another has now been facilitated by different payment gateways. Payment gateways, are exactly what they sound like, they are the gateways or the medium through which you transfer money from buyer to the seller, or seller to the buyer (as applicable).

In order to select an optimal payment gateway that facilitates the transference of your finances, it is recommended that you take a few issues under consideration.

Geographical Location of Your Business

It is a common fact that not all of these payment gateways support transactions in all the countries of the world. Some gateways support some countries, while they do not support other countries. So it is imperative to figure out the payment gateways that actually support transactions in the country that you conduct your business from.

The mode of payment

The way that you like to conduct your trade or the manner in which you wish the money to be transferred, plays an important role in determining which payment gateway you should opt for. This is because, some of these gateways support credit cards, and some do not. What if you like to conduct your business through credit cards, but could not because the gateway you opt for does not support that feature.

Currency Exchange

You need to care for the comfort of your customers too. Opt for a gateway that supports exchange of monetary funds in different dominions.

Once you are done with decision, you can decide your payment gateway by weighing the pros and cons of different gateways that fulfill your criteria.

Pay Zippy

Pay Zippy does not charge a single dime as its set up fee. Its service charges via debit cards are 0.75% for a transaction below 2000 Indian rupee. While for transactions that are greater than 2000, cost 1%. For Credit cards, the service charges are 3.5% for transaction in the range of 0-5 lakh rupee, and for 5-10 lakh rupee, it costs around 3.25%. Similarly, for transactions between 25 to 100 Lakh, it costs 2.5%.

PayU India

There are three categories of customers in PayU India, namely;

  • Economy
  • Silver
  • Gold
  • Platinum

The economy category requires 4500 Indian rupee as set-up fee, while the set-up fee required for silver, gold and platinum is 9900, 19900, 29900 respectively. Similar to Pay Zippy, PayU India also charges 0.75% for transactions below 2000rs and 1% for transactions over 2000rs via debit card. Conversely, for transactions involving credit card, 3.9%, 3.25%, 2.9%, and 2.5% is charged as service charges for Economy, Silver, Gold and Platinum categories respectively.


Similar to PayU India, DirecPay has 4 categories of customers, namely;

  • Basic
  • Advanced
  • Professional
  • Corporate

As setup charges, basic category requires 6000 rupee, while 12000, 24000 and 36000 are charged for Advanced, Professional and Corporate categories respectively. The debit card charges for all transactions are 1.25%. While on the contrary, for credit card transaction, 5.5%, 4.5%, 3.75% and 2.75% for Basic, Advanced, Professional and Corporate category respectively.

Virtual bank account for Pakistan company

By | Banking

Taking advantage of a virtual bank often comes with more advantages than a physical bank. Digital banks do not have as much overhaul, and while these facilities do not have the same kind of physical presence, the savings of being a digital establishment is often reflected back on client savings. For a Pakistan company looking to save money and yet receive additional benefits, selecting a virtual bank is an excellent option. Here are some of the top virtual bank account service provider found in Pakistan.


PayPal is more of a service provider than specific bank. It does not have the same kind of investment and lending options as a bank, but it is the easiest to set up and it is available around the world. If someone is Pakistan wants to accept payments from Canada, the United States, Australia, Japan or anywhere else in the world, PayPal is there. Although there are some slight international convenience fees, it is probably the widest available and easiest to set up.

Ally Bank

This is a virtual bank that is available only online. Now, while it is possible to open up within Pakistan it is a U.S. based account. Due to this, some services a Pakistan company is looking for might not be supported (including any kind of business loan). However, it accepts international charges and there are ways to invest some added money through options available (the interest rate offered on savings and checking accounts is also one of the highest in the industry).

Barclays Bank

Barclays is one of the largest banks in the world. It has an international department though and it is also available online through a virtual service. It prides itself in offering a high savings account APY and also a one-year CD rate that is easy to invest in. For international businesses like those in Pakistan, this might be the best to go with, simply because if there is ever an issue and the business owner wants to go in and talk with someone who can assist, Barclays has service locations around the world, so this is an actual option. With the other services, there really isn’t the potential.

First Internet Bank

This is a quality virtual bank account and it is another that can be used throughout the world, including Pakistan. It doesn’t have 24/7 support, but it does have lower fees than what a traditional bank is going to charge.

How Can An Indian Company Open A Bank Account In Europe?

By | Banking

India is a pretty progressive country that inhabits a billion people. The pace at which India is developing, both technologically and economically is brisk. This success, development and progress are a result of its performance in the international market.

The major rule of expanding to other countries is to have a base set up in the destination country. For instance, if somebody is trying to expand his horizon with a move to a different country, then he must first set up a Headquarter or a base of operations for his firm. The amalgamation of different European countries in a single union is named as European Union. The laws and regulations in the countries that are part of the EU are pretty similar, with only minute differences here and there. The intercontinental transactions has been made easier in Europe since the creation of the European Union, but what about the millions of Indians trying to expand the borders of their business to the vast greenery of Europe? In order to buy property or to buy anything else for that matter in an entirely different country, you need to have a bank account in the country.

Here is a detailed explanation of how to do exactly that;

Choosing a Bank

Banks in Europe are allowed the courtesy of deciding their own customers. No laws within the European Union can prevent or force a bank to open a bank account for a particular customer. Therefore, it is essential to choose a bank beforehand that has a history of granting permission for the opening of a bank account for people who are not exactly residents of the European Union.

Filling the form

An online form can be submitted from the comfort of your home that expresses your desire to the bank about getting an account opened in your name. After the form is filled, the bank will inform you about the ways you can identify yourself as a proper candidate who is viable to receive the bounties of a bank account.

Proving your Identity

For an Indian national, an important step in opening a bank account in a European country is providing the required documents to proof your identity. Identifying yourself is a process that gives the bank a go-ahead to process the opening of your bank account. There are two methods through which you can identify yourself in any European country;

  • By Lawyer or Notary
  • By Bank

By lawyer

It means to identify yourself in a European country with the help of a lawyer; the lawyer takes responsibility on your behalf. The lawyer that takes the responsibility must be a resident of the EU.

By Bank

It is a very simple process, it involves the bank that you use in any state of India to share details with the bank where you are trying to open an account. The bank back home in India and the bank in your destination country collaborate together and settle the case.

This is all it takes to open a bank account in any country in Europe. Apart from opening an account in a bank in Europe, some other questions also wander in the minds of many Indians who decide to expand their business to Europe.

Virtual bank account for exporters

If you export into Europe you can also consider signing up with B2B Pay. With B2B Pay an you can get your own virtual bank account inside the European SEPA zone, combined with vastly cheaper fees for currency exchange and transfer to your local bank account.

Paying Taxes

The regulations for paying taxes on a bank account in Europe are particular to the country you have chosen to open a bank account. Overall, most countries do collect some service charges or taxes, while some such as “Germany” do not compel you to pay taxes to the government unless you make use of the money in the country.

B2B Pay – Exports to Europe Made Easy

By | Banking, Money transfer

B2B payment simply refers to the business transaction between 2 businesses for the completion of a task. For instance, a company A makes shoes, but to make shoes, it needs leather. Conversely, a company B specialises in the accumulation of leather. In order to fulfil its purpose, company A needs leather from company B so that they can create shoes. The relocation of money in this whole scenario is referred to as B2B pay, or Business to Business pay.


B2Bpay.co is a joint venture of innovators and entrepreneurs from Finland, New Zealand, India, Holland and Brazil. The basic idea of the site is to help exporters receive money. We provide exporters with a virtual bank account inside the European Union and then transfer the incoming money to the exporter’s local bank account in for example India or Brazil.

When an investor wants to relocate money between European countries and India, he or she is required to pay 3 to 6% in terms of charges for the relocation. That does not seem to be the problem for B2B Pay, since B2B Pay transfers money to and from these countries at the rate that is below 1%, which means you save almost 80%.

Transparency about fees

In its entirety, Europe has a cumulative sum of nearly 200,000 banks; all of these banks have variable fee plans, structure and processing times for transactions. Exchange rate plays a vital role in this whole situation, for instance if you receive an amount from Europe, they will only initiate the transaction by using a payment order in their bank. Usually a fixed charge is deducted for the services, but the big trade-off is the exchange rate. The bigger the difference in exchange rate, the bigger the difference in the total amount sent and total amount received. This is a reason in potentially losing hundreds of euros. On the other hand, B2Bpay believes in transparency about charges. They claim to provide the best business in town with the best rates in the market. This can be proved by the fact that their rate for India is only 0.8%. Which means, your costs are reduced by up to 80%.

Annually, more than 100,000 small exporters and businessmen, send goods and provide services to their clients in different parts of Europe. These transactions and deals are carried about in a similar manner, the two parties meet, agree on a deal, sign documents that make the transaction official. The exporter then exports the product or the service to the importer, while the importer returns the favour with money. As expressed earlier, all the payments that the importer makes, are made with his or her local bank, while the exporter bears all the cost related to the transaction.

No more overpaying

The real question is, how does B2B Pay help you in avoiding such circumstances where you have to overpay on transactions to receive your money?

To take care of all the hullaballoo, B2B Pay conducts all necessary checks when it registers you as a customer if you sign-up. Additionally, it also adds information about your bank account number into its database system.

B2B Pay IBAN number in Europe

To receive money in any country associated with the European Union, B2B Pay also provides you with a European IBAN bank account number. An IBAN number is your key to keep track of your transactions and your money. Thanks to SEPA the very IBAN number can be used in all 34 states under the banner of European Union for absolutely free.

When the money arrives in your European bank account, B2B Pay sends it to your local bank, since they already have your local bank account number. Additionally, their fee for this transaction is 80% less than the lowest fee offered by any other service provider of the same genre. This guarantees a saving of 2-5% on the value of transaction. Of-course, this will directly impact on your profit by 10 to 20%.

In conclusion, when you sign up for B2B Pay, you get to take a compliance test only once. It also supports profitable currency conversion and payment to your original bank is so much simpler. Furthermore, it provides you with a European IBAN account number that sets up your European transactions pretty neatly.


b2bpay logo

Exports from Brazil

By | Money transfer

Exports from Brazil: Whenever anyone mentions Brazil, our mind immediately thinks about beautiful beaches, scintillating girls and football, lots of football. But there is actually more to Brazil then just beaches, girls and football. Believe it or not, Brazil is the mainstay of South America, with the 5th highest population in the world; it is also the hub of trade and commerce in the continent.  

Exports play an important part in the incomes of a nation. The relationship between imports and exports determine how stable a country’s economy is. Brazil, being the 9th highest economy in the world, and it did not achieve that feat without doing much. In the international trade market, Brazil exports most of its products to countries like China, United States of America, Argentina and the Netherlands. In terms of imports, Brazil’s main partners in the ally are again countries like, China, United States of America, Argentina, Germany and South Korea. Below is a list of 10 items that Brazil exports more than anything else.

Refined Petroleum

Refined Petroleum is the 10th largest trade that Brazil makes. On its own, refined petroleum that Brazil provides, is sufficient enough for the whole of South America.

Aircrafts, Helicopters and Spacecraft

Contrary to popular belief, USA is not the largest supplier of aircrafts, helicopters and spacecraft. It is true that USA manufactures and sells the most amounts of arms and ammunition throughout the entire universe, but aircrafts, helicopters and spacecraft are a completely different thing. Brazil provides all, the spare parts, resources and the built crafts.


Being one of the biggest countries in the world that is famous for its agricultural setup, it is no surprise that so many of Brazil’s agricultural products make it in the international market. Corn is one of the substance that Brazil exports more than any other agricultural product.


The world’s fuel. It is a universal fact that over 80% of adults in the world, run on 2 things, either coffee or tea. Well, Brazil makes plenty of coffee, even so much that they export the leftovers to other countries and make millions off it.

Soybean Meal

Soybean meal is not just a major source of nourishment for humans, but it is also a significant source of food for animals. Brazil provides a lot of Soybean meal for everyone’s needs.

Poultry Meat

Poultry includes animals from farms, like Chicken, Ducks, Quail, Turkeys and all the by-product that comes from them, like eggs. Brazil is a major exporter of Poultry Meat.


Sugar is the main source of carbohydrates. It can be found in almost every edible substance that we consume. In the list of Brazil’s highest exports, Sugar ranks at 4th.


The Soybean is famous all around the world, in Europe it is known as Soya bean. It is plant that is grown in the forest, and the only edible part is, is its bean.

Crude Petroleum

Crude petroleum is the total opposite of refined petroleum. Refined petroleum is the fuel used in automobiles like car, bikes and trucks. On the other hand, Crude Petroleum is the more raw form of petroleum. Among all of Brazil’s exports, Crude petroleum ranks as number 2nd.

Iron Ore

Voila, Brazil’s most significant export is Iron ore. Iron ores are not exactly raw form of iron, but it is the mixture of rocks and mountainous parts out of which pure iron is extracted and then put to use.

There you have it folks, that was the top ten of Brazil’s biggest and the most significant exports. Other honorable mentions are;

  • Sulfate Chemicals
  • Wood pulp
  • Cars
  • Vehicle Parts
  • Semi-finished iron
  • Frozen bovine meat
  • Tobacco
  • Gold
  • Fruit Juice
  • Ferroalloys
  • Alcohol > 80% ABV

Banks in Brazil: an overview

By | Banking

This is an overview of banks in Brazil.  Banks in Brazil use the IBAN numbering system.

When we talk about trade and commerce, we think about banks and accountants, because the two things are inter-related. When it comes to Brazil, the banking sector in the country is booming like many other economic bases. There are many banks, both national and international, that are plying their trade in a rapidly developing country like Brazi.

List of banks in Brazil

  • Banco Bradesco Financiamentos
  • HSBC
  • Banco J Safra S/A
  • Banco do Estado do Rio Grande do Sul S/A
  • Caixa Econômica Federal
  • Banco PanAmericano S/A
  • Banco Itaú
  • Banco Santander
  • Banco do Brasil
  • CitiBank

Banco Bradesco Financiamentos

The Banco Bradesco Financiamentos was founded in the year 1943. Opened its first office in the city of Marilia, Sao Paulo. The bank is currently Brazil’s second largest when it comes to private banks in the country. The current headquarter of the bank is in Osasco, Sao Paulo at the building Companhia Cidade de Deus. Being in business in Brazil for almost 7 decades is no mean feat, and one cannot do that unless it has some merit. Similarly, the banco Bradesco Financiamentos has acquired several of the most significant institutions in Brazil, like Banco do Estado do Maranhao and Banco Morada, and several others. To add to that, the bank has also been successful in taking over the charge of operations for American Express Credit card in Brazil. The Banco Bradesco Financiamentos has also been good in the numbers game, with 1.4 million shareholders, 95248 employees countrywide, and 3235 offices throughout the nation.

Caixa Econômica Federal

The Caixa Econômica Federal initiated business way back in the year 1861. It is the bank owned by the government of Brazil and is the sole bank in the country with FGTS, PIS and the payment unemployment insurance. Apart from that, it also looks after the government’s interest in Programa Minha Casa and Minha Vida. As far as the numbers game is concerned, the bank has 2229 offices situated in the country, 10954 casas lotericas and 81500 employees throughout the nation.


HSBC is an international commercial cum investment bank that is organized within 4 factions, that are; Commercial banking, Global banking and markets, personal financial services and global private banking. Right now, HSBC has representation in around 87 countries and in Brazil, it is present since 1997. Its current headquarter is located in Curitiba. In the numbers game its performance are off the chart, with 933 offices throughout the country and 25122 employees.

Banco J Safra S/A

Banco J Safra is famous in Brazil for the fact that all its clients are elite. Operating in Brazil since 1955, it’s based in Sao Paulo with over 100 offices throughout the nation. The numbers support its ranking as a major banking firm in the country. As of now, it has a century of banks spread throughout the country, with 5605 employees working in them.

Banco Itaú

The Banco Itaú purchased Unibanco in the year 2008, since then its market value has skyrocketed 120%. This made it a valuable member of the top ten banks in Brazil. Banco Itaú is not just famous in Brazil, but it is also pretty well known in whole South America. It is based in Sao Paulo. Currently they have more than 4500 offices and 14.5 million clients. And being the conglomerate that it is, it employees more than 190000 employees.

Banco do Estado do Rio Grande do Sul S/A

Based in Porto Alegre, the bank has branches in 364 cities. Banco do Estado is a state owned bank and has 438 branches and 500 ATMs throughout the country. The bank also has 9762 employees working for it.

Banco PanAmericano S/A

Founded in the year 1969, the bank has taken its development to the next level gradually. Now it has 237 offices, 2425464 clients and 3Million credit cards.

Banco Santander

Initiated in 1991, the bank now has 1897 offices, 7119 ATMs and more than 6.7 million clients. Currently its total assets amount to more than $222 Billion.

Banco do Brasil

The largest bank in Brazil on the basis of total assets, the banco do Brazil has its headquarters in Brasilia. The bank was founded in 1808 and is owned by the Government of Brazil. The bank has more than 5000 offices, 40000 ATMs, and 110000 employees.


The world renowned Citibank is headquartered in Sao Paulo since 1915. Currently it is operating in 21 out of the 26 Brazilian states. Currently they have more than a 100 offices, 11500 ATMs and more than 2000 employees.

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