Nubank announced this Wednesday (8) an important novelty for corporate clients. Now, MEIs and other business accounts will be able to send and receive international remittances through the digital bank. The functionality is the result of the partnership with Remessa Online, signed in July 2021, which already allowed individuals to carry out transactions abroad, but did not include PJ users.
Now, anyone who has a PJ account at Nubank will be able to access the digital bank app and receive or send money to other countries. In a post on your blog, fintech promises lower administrative fees, with a current discount of 15% per shipment, but this percentage is subject to change. However, the customer will be notified whenever any change occurs in the values.
How international transactions work for PJ
All international transfers are made through Remessa Online, partner of the digital bank. Even so, the process starts directly in the Nubank app, which generates a discount on the rates.
For example, when providing some type of service to clients abroad, the PJ account now allows receiving amounts in foreign currency. Nonetheless, the withdrawal of money by Remessa Online will be in reais. The customer can choose to send the amount already converted to their Nubank account or to another institution.
The service also allows you to make international payments., something common for individuals in cases of importation of goods and services. The same categories of companies that are already accepted today in the fintech corporate account will be able to make international transfers at Nubank:
- Individual Real Estate Company
- Sole Proprietorship
Fees and taxes levied
Of course, there are some fees to consider. When making an international transfer, there is a mandatory collection of the Tax on Financial Operations, or IOF. The fees charged to Nubank’s PJ customers are as follows:
- Administrative fee, or spread: charged by Remessa Online to PJ, this fee has a cost of 0.99% on the first two remittances in any currency or value. After initial uses, the fee charged is 1.3% of the transaction amount and varies depending on the foreign currency and amounts sent. Through the Nubank app, this charge is reduced by 15%.
- external rate: the value of this fee will vary from currency to currency and also depends on the amount to be sent or received. Nubank highlighted that the amounts charged will be transparent in the digital banking app. However, if the remittance exceeds BRL 15,000, this fee is zeroed. The discount for fintech PJ customers is also valid for this case, regardless of the foreign currency, but it is necessary to start the process through the Nubank application for it to be applied.
Limits for international transactions
Each type of company also has an initial limit for receiving and sending remittances abroad. Limitation is annualbut there are no daily or monthly restrictions, varying for each digital bank PJ customer category:
- MAY: R $ 56,700
- ME: R$ 252.000
- LTDA: BRL 300,000
It is possible to increase this limit when submitting certain company documents to Remessa Online, subject to review and approval. This documentation also varies for each category of individual:
- MEI: DASN-SIMEI
- ME, LTDA, SA, SADV, EPP and EIRELI: Balance Sheet and Income Statement signed by the company’s administrator and accountant
- Company opting for Simples Nacional: DEFIS and DEFIS and PGDAS receipt
- Company opting for presumed profit: ECF (Tax Accounting Bookkeeping)
How to send and receive international shipments
let’s see the step by step on how to access the new international transactions feature in the app from Nubank in a PJ account:
- Select “Transfer Internac.” on the app home screen
- Click in “to pay”;
- Now put the value that you want to send;
- Select destination country and the converted value will be shown
- Tap the button “Continue”
- Now, Nubank will direct you to the Remessa Online for Business platform and you will be able to login or create your account to continue the process.
On Online Shipping:
- select category where the transfer fits
- Fill in the account details of destiny
- confirm the value Sent
- Make a transfer via TED to the account indicated by Remessa Online
now let’s see how to receive money from abroad by Nubank’s PJ account:
- From the main screen of the app, select “Transfer Internac.”
- Click in “To receive”
- Tap “Go to Online Shipping”
- At Online Shipping for Business, login or create your account
- Choose currency and reason of receipt
- Copy bank details provided by the platform and send to your payer abroad
With all the steps explained, it is important to note that the money takes up to two business days to reach your Remessa Online account. Once the amounts are in the account and converted into reais, the corporate client can resend them to Nubank or to another institution of their choice.