The bank is the first one in Europe to launch a custom-built payments solution that allows customers to make transfers into Brazil in local currencies and in real time. The new service is provided through Santander’s PagoNxt and is designed to shorten the payment times between transfers from several days to just minutes, while also removing the need of FX documentation and third parties.
SMEs and corporate clients in Spain can also use the One Trade solution to make instant payments in BRL to recipients from Brazil through online banking. Customers from additional markets outside Spain will be added into the programme in the following month of 2022.
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