Bank Slip: everything you need to know?

In this guide, we'll explore everything you need to know about bank slips. Whether you're a consumer looking to understand how to pay bills or an entrepreneur interested in issuing slips to your customers, this text provides a comprehensive overview.

We'll cover everything from the basics of boleto to its practical applications, advantages, and even some limitations to consider. Get ready to discover how this payment method can make your daily financial transactions easier.

See this guide:

• Definition of bill;
• How the ticket works;
• What are the elements of the ticket;
• What is the process for issuing a ticket?
• How to pay the bill: what the process is like;
• What is the boleto for: applications;
• How to get a second copy of the bill;

Bank Slip | Definition:

The bank slip is a document widely used in Brazil to make payments for products and services.

Issued by companies or individuals, the boleto contains essential information such as the amount to be paid, the due date, details of the beneficiary (who will receive the payment) and the payer (who will make the payment), as well as a barcode and a machine-readable line that allow automatic reading and payment clearing by the banking system.

How the Boleto works

A bank slip works like a payment order, where the issuer generates the document with detailed information, and the payer makes the payment at banks, lottery outlets, or online. After payment, the amount is transferred to the beneficiary's account.

What are the elements of the ticket?

Basically, a bank slip is made up of the following elements:

• Digital Line: A sequence of numbers that can be entered on bank websites or apps to pay a bill online.
• Barcode: A set of bars that can be scanned at ATMs, banks, and lottery outlets to facilitate the automatic reading of information on the bill.
• Recipient: The person or company receiving the payment. The beneficiary's name and details are clearly indicated on the payment slip.
• Payer: The person or company making the payment. Their details also appear on the invoice.
• Value: The amount of money that needs to be paid, clearly indicated on the bill.
• Due Date: The last day the bill can be paid without incurring fines or interest. After this date, the amount may increase.
• Payment Instructions: Guidelines explaining how payment should be made, including possible fees, discounts, or penalties in case of delay.

Issuing of bills

Issuing bills is a simple and widely used process in Brazil. Here's how it works:

1. Who Can Issue:
   • Companies of any size
   • Self-employed professionals
   • Individuals
2. How to Issue:
   • Through Banks: Most banks offer online systems for issuing boletos. Simply access your online banking and follow the instructions.
   • Online Payment Platforms: Services like PagSeguro, Mercado Pago, and others make it easier to issue bills, even for those who don't have a bank account.
   • Management Software: Many financial management and ERP (Enterprise Resource Planning) programs have features to automatically generate invoices.
3. Necessary Information:
   • Ticket Value: How much should be paid.
   • Due Date: Until when can payment be made?
   • Beneficiary Data: Name and bank account of the person who will receive the payment.
   • Payer Data: Name and CPF/CNPJ of the person who will pay.
4. Sending the Invoice:
   • E-mail: The invoice can be sent directly to the payer's email.
   • Mail: Some companies still prefer to send printed invoices.
   • Online Link: Many systems allow you to generate a link to the invoice, which can be shared via WhatsApp or social media.
5. Payment Compensation:
   • After payment, the bank or payment platform confirms the transaction and the amount is transferred to the beneficiary's account.

How do I pay the bill? Payment process:

Paying a boleto is simple and can be done in several ways. Here's a step-by-step guide to the payment process:

1. Choose Payment Method:

   • Internet Banking: Access your bank's website or app and look for the bill payment option.
   • Payment Applications: Apps like PicPay, Mercado Pago, or your bank's own app.
   • ATMs: Available at bank branches and supermarkets.
   • Lottery shops: Just bring the printed invoice or the barcode number.
   • Bank Branches: Any bank can receive payment of bills.

2. Read the Barcode:

   • Internet Banking/App: Enter the scannable line (sequence of numbers on the bill) or use your cell phone camera to scan the barcode.
   • ATMs/Agencies/Lotteries: Present the payment slip to scan the barcode.

3. Confirm the Data:

   • Check that the information on the boleto is correct, including the amount, beneficiary name, and due date.

4. Make Payment:

   • Internet Banking/App: Follow the instructions to complete the payment and confirm the transaction.
   • ATMs: Follow the on-screen instructions, insert your card and enter your password to complete.
   • Lottery/Bank Branches: Hand the bill to the attendant and make the payment in cash, check, or debit.

5. Proof of Payment:

   • Digital: Save or print the receipt generated by internet banking or the app.
   • Physical: Keep the printed receipt provided by the ATM, lottery outlet, or bank branch.

What are the applications of the boleto: what is it for?

Boleto bancário is widely used in Brazil for a variety of purposes, offering flexibility and security for payments. Here are its main applications, advantages, and some limitations:

Common Applications:

• Payment of Utility Bills: Such as water, electricity, telephone and gas.
• Online Shopping: Many online stores offer boleto as a payment option.
• School Fees: Educational institutions often use bills to charge tuition fees.
• Service Charges: From gyms to subscriptions to various services.

Advantages of Use:

• Security: The boleto generally does not require sensitive data from the payer during payment.
• Payment at Any Bank: It can be paid at any bank, bank branch, lottery outlet or even via internet banking.
• Ease of Issuance: Companies and individuals can easily issue bills through banks, online payment platforms, or financial management software.

Disadvantages and Limitations:

• Compensation Period: It may take up to 3 business days for the payment to clear, depending on the bank.
• Possibility of Fraud: Unregistered or incorrectly issued bills can be the target of fraud, requiring attention when receiving and paying.

How to Pay a Duplicate Bill

Sometimes, you may need to issue a duplicate of an expired bill or extend its due date. Here's how:

1. Issue Second Copy:

   • Access the website of the company or institution that issued the original bill.
   • Look for the option “2nd copy of bill” or “second copy”.
   • Enter the original invoice number or other requested information to generate the new copy.

2. Pay Overdue Bill:

   • A duplicate of the expired bill will be generated with a new, updated due date.
   • Use the same payment methods described above (internet banking, ATMs, lottery outlets, bank branches) to make the payment.

3. Extend Due Date:

   • If the company allows an extension, contact them directly by phone, email, or online chat.
   • Request an extension of the due date and follow the instructions provided to make the payment within the new stipulated deadline.

With this information, we hope you feel more confident using boletos for your financial transactions, making the most of this versatile and essential tool of the Brazilian banking system.