TEF (Transferência Eletrônica de Fundos) is a Brazilian electronic funds transfer system that enables bank-to-bank transfers. It’s a widely used payment method in Brazil, providing a secure and reliable way to move funds between accounts. TEF transfers typically involve entering the payee’s bank details, including their account number and bank code. The transfer may take some time to process, depending on the banks involved.
Benefits
Wide Acceptance
Widely accepted among Brazilian banks.
Security
Secure payment processing with industry standard security measures.
Reliability
Reliable method for moving funds between accounts.
Features
Bank-to-Bank Transfer
Transfers funds directly between bank accounts in Brazil.
Payee Bank Details
Requires the payee’s bank account details to initiate the transfer.
Processing Time
Processing times vary based on the banks involved.
Confirmation
Confirmation of transfer is usually provided after processing is complete.