Clipping of news on Brazilian Culture, Law and Citizenship
02/08/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
National Monetary Council approved implementation of electronic transaction of buying and selling foreign currency in the country
SAO PAULO - Brazil is close to receiving the first ATMs to conduct transactions Exchange. With the permission of the CMN (National Monetary Council) for installation of machinery purchase and sale of foreign currency in wide circulation by local banks or exchange houses, institutions have begun to be programmed to implement this new tool in the Country
Currently, Hess Latam is the company that will deploy this equipment in Brazil. According to the company's CEO, Demilson Guilhem operation is similar to a conventional ATM.
The Hess ForEx, as it is called, allows for exchange activity 24 hours a day.
You can include up to 15 different currencies and receive up to three hours in the exchange. Everything depends on the configuration installed by a person who purchases the machine. Its handling is simple, and can update the exchange rate of each foreign currency and evaluate transactions in real time.
To carry out the transaction simply insert the ballot of origin, carry personal identification and select the currency you want to buy. The machine performs a precise reading of the coin is inserted and has quote of the day.
Brazilian law requires that any amount of money financial transaction has an ID to prevent the crimes of money laundering.
Guilhen explains that such equipment is already installed in 40 countries mainly Europe, Asia and Oceania.
Debit Card and online
You can also buy with a debit card or internet. To make buying currency online the procedure is similar to a ticket purchase transaction over the Internet. The user makes a purchase through the website of the bureau and receives a PIN to be entered at the ATM where the ballots will be released.
Negotiations
According Guilhen, negotiations with the Bureau de change and banks are already andament and short-term it will be possible to estimate a date for the installation of electronic point of sale exchange.
"I can assure you that we have great players in the negotiations of the foreign exchange market and very soon this tool is already available for the Brazilians," says Guilhen
Source: InfoMoney
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This article was translated by an automatic translation system, and was therefore not reviewed by people.