ISPB: the What is this code? And the COMPE code? Understand everything here!

In Brazil's financial world, numerous acronyms and codes play crucial roles in the effective functioning of the system. Among these, two codes stand out: ISPB and COMPE.

But do you know what ISPB is and what it is for?

In this article, we'll explore the meaning and usefulness of these codes, clarifying their fundamental role in Brazil's financial system. Read our article to find out!

What is the ispb code?

The ISPB code, or Brazilian Payment System Identifier, is an acronym that plays a crucial role behind the scenes in financial transactions in Brazil. It's used by individuals to make financial transfers.

Each financial institution in the country is assigned a unique ISPB. This code serves as a sort of unique identity for financial institutions in the Brazilian Payment System.

Therefore, when making a financial transaction, you must use this code to identify the institution that will receive the money.

The ISPB code consists of 8 digits and is unique for each financial institution.

What is the compe code?

COMPE, or the Check and Other Paper Clearing System, like ISPB, is an essential part of Brazil's financial system.

COMPE is operated by the Central Bank of Brazil and is responsible for processing and clearing checks and other financial documents. Its role is to ensure that financial transactions involving checks and similar payment instruments are processed securely and efficiently.

The COMPE code is also used when carrying out transactions such as TED and DOC, ensuring that the money is sent to the correct institution.

The COMPE Code is 3 digits and is unique for each financial institution.

What are the compe and ispb codes for?

Now that we understand what ISPB and COMPE are, it is important to understand why these codes are fundamental to the Brazilian financial system.

• ISPB Codes: These identifiers are crucial for regulating and monitoring financial activities in Brazil. With ISPB, financial and regulatory authorities can track the activities of individual financial institutions, ensuring compliance with established standards and regulations. This promotes system integrity and prevents illegal financial activity.
• COMPE Codes: COMPE is the backbone of check and other financial document processing in Brazil. It allows funds to be transferred between accounts at different banks securely and efficiently. Through COMPE, the country maintains stability and reliability in financial transactions, promoting financial security for individuals and businesses.

In other words, in general, both codes identify financial institutions and are used so that you can make financial transactions in order to send the money to the correct institution.

What does each code mean?

Now, see a little more about the meaning and importance of each code:

• ISPB (Brazilian Payment System Identifier): The ISPB is a unique identifier assigned to each financial institution in Brazil. It plays a fundamental role in regulating and monitoring financial activities. The ISPB is used to track transactions and ensure that financial institutions comply with the rules and regulations established by the Central Bank of Brazil.
• COMPE (Check and Other Document Clearing System): COMPE is the centralized system that processes and clears checks and other financial documents in the country. It is essential to ensure that transactions are made directly to the correct financial institution.

Which one should I use to send a DOC or TED?

When making an Available Electronic Transfer (TED), you will be asked to provide the code of the institution to which you wish to send the amount.

In general, when making a TED or DOC, you will be asked to enter the COMPE Code, which is made up of 3 digits.

However, it's important to note that other financial entities, such as brokerages and credit unions, may not have this number. In these cases, the "ISPB Code" comes into play, consisting of eight digits, accurately identifying both banks and other financial institutions.

Therefore, when making a TED or DOC, make sure to use the appropriate code, whether COMPE for traditional banks or ISPB for other financial institutions, thus ensuring a safe and efficient transfer.

How to use each code?

Want to learn how to use each code in practice? Check it out!

• Access your account's ATM or internet banking.
• Make a financial transaction via TED/DOC.
• When filling in the details, enter the account, bank and amount.
• The system will ask for the bank code. If it's a 3-digit code, it's COMPE. If it's an 8-digit code, it's ISPB.
• Enter the correct code and complete the transaction.

Done. Now that everything is in order, you'll make the transaction directly to the bank that should receive the money.

How do I find out the code for each bank?

To find out the COMPE and ISPB code for each bank, you can consult the website of the Central Bank of Brazil (BCB). On the website's home page, click on the “Payment Systems” option and then on the “Bank and Financial Institution Identification Codes” option.

On the next page, you will find a list of all banks and financial institutions registered with the BCB, along with their respective COMPE and ISPB codes.

Additionally, you can also check each bank's COMPE and ISPB codes on their website. In most cases, banks provide this information on the "Services" or "Transfers" page.

What is the compe code of the main banks?

Now, see the COMPE and ISPB codes of the main banks in Brazil:

Frequently asked questions

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