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.
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.