pc
nid 92328
Apr 30, 2026
ggallwey@vixio.com
Brazil
Central Bank of Brazil
financial services
117% of draft length
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1635 charsBrazil's Central Bank Updates International Payment Service Rules to Enhance Security and Transparency
On April 30, 2026, the Central Bank of Brazil (BC) approved new regulations governing international payment and transfer services, commonly referred to as eFX (electronic foreign exchange). The update aims to strengthen security, transparency, and Brazil's alignment with global standards for preventing financial illicit activity.
The eFX service facilitates international transactions including overseas purchases, international service contracts, and cross-border fund transfers. Following a public consultation conducted in 2025, the new regulation restricts eFX services to institutions authorised by the BC. Institutions lacking this authorisation may continue providing eFX services provided they request BC authorisation by May 2027.
To enhance supervision and user protection, eFX service providers must submit detailed monthly information to the BC and maintain segregated accounts exclusively for eFX customer funds in transit. The regulation also expands eFX services to include transfers related to financial and capital market investments in Brazil or abroad, up to the equivalent of US$10,000.
The regulation applies to all financial institutions offering eFX services in Brazil and impacts payment service providers, banks, and other authorised entities. The expansion of permitted transfer types reflects efforts to modernise Brazil's cross-border payment infrastructure while maintaining robust oversight mechanisms.
BC Resolution 561 enters into force on October 1, 2026. Institutions without existing BC authorisation must apply before May 2027 to continue operating eFX services beyond the implementation date.
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1918 charsBrazil Central Bank Updates International Payment Service Rules to Enhance Security and Transparency
On April 30, 2026, the Central Bank of Brazil (BCB) adopted Resolution No. 561, amending the regulatory framework for international payment and transfer services (eFX) under Resolution No. 277/2022 . The update strengthens operational, reporting and control requirements for cross-border payment activities, while expanding the scope of permitted transactions.
The new regulation establishes that the eFX service will be restricted to institutions authorized to operate by the Central Bank. Institutions that do not yet have this authorization may continue to provide the eFX service, provided they request authorization to operate from the Central Bank by May 2027.Entities that fail to apply, or whose applications are rejected, must cease operations within 30 days.
The regulation also expands the eFX service by allowing transfers related to investments in the financial and capital markets, in Brazil or abroad, up to the equivalent of US$10,000. It also establishes stricter operational controls, including a requirement that sending users be clients of the eFX provider and that providers maintain contractual arrangements with foreign counterparties.
To enhance transparency and supervisory oversight, the regulation mandates monthly reporting through the Central Bank’s Exchange System by the tenth day of the following month and requires institutions to retain transaction data for a period of ten years. Fund flows must be conducted through regulated accounts or dedicated accounts used exclusively for eFX activity, with the offsetting of user funds prohibited.
In addition, payments and receipts between eFX providers and foreign counterparties must be conducted via foreign exchange transactions or non-resident accounts, with the use of virtual assets explicitly prohibited.
Resolution No. 561 enters into force on October 1, 2026, with transitional compliance deadlines extending through May 2027.