On February 14th, 2013, Banco Central do Brasil published Circular No. 3,625, regulating the use of International Bank Account Number (IBAN) as a valid identification standard for international funds transfers to bank accounts kept in Brazil. The new standard was designed in an agreement with bankers’ associations in the country.
From july 2013 on, all brazilian financial institutions must provide their clients with the IBAN for their respective accounts, on their demand, and must accommodate all funds transfers received where IBAN is correctly used to identify a national bank account.
For further information, check our detailed guide.