What is the bank code?

O bank code, Also known as COMPE (Monetary Operations and Other Paper Clearing System Code), plays an important role in the Brazilian financial system. This code is assigned to each financial institution with the aim of identifying them during financial transactions.

Next, find out more about bank codes and check out the complete list with all of them!

What is COMPE for?

The banking code is a set of numerical identifiers assigned to each financial institution, allowing its identification in financial transactions, such as bank transfers.

In Brazil, this code, popularly known as COMPE (Monetary Operations and Other Paper Clearing System Code), consists of three digits and is used to distinguish banks when carrying out operations such as Credit Order (DOC) or Electronic Transfer Available (TED).

These codes play an important role in facilitating financial transactions by promoting communication and interoperability between various financial institutions. In addition to electronic transfers, they are used to clear checks, pay bills and other interbank transactions.

It is worth mentioning that COMPE also plays a significant role in the Brazilian Payment System (SPB), contributing to the efficiency and security of the national financial system.

Thus, the importance of the bank code for banking institutions becomes evident, promoting integration and fluidity during financial operations.

When banks send payments, the bank code is used to ensure that the amount is routed correctly, forming part of a network of correspondent banks that work together to ensure the efficient and secure transfer of funds to the final recipient.

List of bank codes in Brazil

Below, we provide a table of all COMPE of Brazilian banks. You will be able to check the codes of the main banks in the country, such as the bank code Bradesco, code Itaú, code Bank of Brazil, code of Caixa, code Santander and many others.

To use the bank code, the customer must simply obtain it and confirm that it is correct. After that, simply request the transfer.

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Sources: They febraban, Examination, Neon

Text proofread by: Pedro Bomfim