No Minimum Amount for Electronic Available Transfers (TED) in Brazil

There is now no minimum amount for Electronic Available Transfer (Transferência Eletrônica Disponível or TED) within the Brazilian banking system.

The minimum that a bank customer could transfer electronically used to be R$250.

The Brazilian Federation of Banks (Febraban) said that the change was to help customers easily transfer money between the country’s banks. Now, as long as the transfer is made within the bank’s service schedule, the amount is credited to the payee’s account on the same day.

A maximum amount for a TED does not exist, unlike a Credit Document (DOC), which has a limit of R$4,999.99 and takes at least one banking day to complete.

The removal of the lower limit is the final part of the reorganisation of the Brazilian Payment System (SPB), which in 2002 began operation. This will increase security and speed up the process by eliminating manual checks. It reduces the risk of wrong transfers between businesses, government bodies and retail customers’ accounts.

The minimum limit for TED when it was first introduced was $5m. This quickly dropped to US$5,000 and by 2013, the amount had dropped to R$1,000.

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Reference: Valor Econômico