Payment orders

Payment orders

Foreign payment orders

A transfer or Payment Order is a request from the Ordering Party (importer) to their Bank, through the intervention of an intermediary—usually in another country, to pay the Beneficiary (exporter) a specified amount.

Characteristics

Purpose

The foreign payment order is one of the means of making international payments, thus representing a foreign currency outflow. The amounts involved in the transaction (transfer amount, fees, and expenses) can be paid through:

  • Debit from the customer's account;
  • Payment through a teller (non-Customers).

It is aimed at companies that need to make payments or debt collections to/from foreign countries in a quick and secure manner, without documentation support, and is used when there is a high level of trust between exporter and importer.

Target market

Companies.

Advantages

  • Attractive pricing compared to other payment methods;
  • Security - Safer than a check because all the parties involved are financial entities;
  • Agility and speed - it is the fastest and most streamlined payment method of all.