Today, we will talk about the two types of payment that 33 realty use the most in of their negotiations, the TED and the Administrative Check. Both modalities are incredibly safe. Here we will show you the advantages and disadvantages of each one to decide which one to use in your next transaction.
TED
Available Electronic Transfer, or TED, is a bank transfer, a financial transaction that takes place directly between accounts, without the need for withdrawals or deposits.
Created in 2002 by the Central Bank, one of its objectives is to improve the old DOC (Credit Document) transaction. It is faster, has no maximum transaction value, and can be carried out between accounts of the same institution and transactions between different banks.
The TED issuing bank usually charges this TED service, and the fees vary between institutions and the way it is performed, either via personal service (at the cashier with the attendant) or electronically (through the ATM or internet banking).
To carry out a TED, you must have the total amount of the transfer in your account. In addition, information about the beneficiary, such as CPF or CNPJ, and bank details are required.
TED Advantages
- As it is a direct transfer between accounts, the beneficiary does not need to make any deposit;
- If carried out within the deadline, the amount is transferred to the beneficiary’s account directly;
- It can be performed entirely remotely, such as by cell phone.
TED Disadvantages
- If the amount to be transferred is greater than the issuer’s account transaction limits, the issuer must request that these limits be changed;
- In some cases, the transfer may take a while to occur and may take up to a few hours. This can end up delaying some situations, such as the signing of the deed;
- In negotiations where the TED cannot be done by cell phone, it must be done previously, generating a possible discomfort for the buyer.
Administrative Check
It is a type of check issued directly by the bank; that is, the bank guarantees the amount contained in the check. Therefore, it is not possible to return the check due to lack of funds or other reasons. Thus, the cashier’s check becomes a more reliable modality for the beneficiary than the conventional check.
Administrative checks are always nominal; that is, it is necessary to have the full name of the beneficiary and their bank details at hand at the time of issuance.
Cashier’s Check Advantages
- Inability to return the check due to lack of funds;
- It is not necessary to wait for the amount to be transferred for the signature of the deed;
Disadvantages Cashier’s Check
- It cannot be carried out remotely (by cell phone), requiring the issuer to go in person, before negotiation, to a branch to purchase the check;
- As it is not a direct transfer, it requires the beneficiary to deposit the check into their account manually.
Both types of payment offer a lot of security for both the buyer and the seller at 33 realty; it is up to you, analyzing the specifics of each one, to choose which one best suit your style of purchase.
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