What is a bank slip and how does this type of payment work?

Do you know what a bank slip is and how to issue one? Read on to find out!

The bank slip is a widely used payment method in Brazil. Although other electronic payment methods exist, the bank slip is still widely used. 

According to Febraban, more than 10 million bills are paid daily in Brazil, around 3.7 billion per year. 

This payment method was created even before the emergence of online stores, however, to this day, it is still a very important tool for e-commerce. 

In today's text you will discover what is a bank slip and how it works, plus you'll find out how to pay, benefits and much more!

Don't miss it!

Text index:

• How does the bank slip work?
• How do you make a bank slip?
• What is the difference between a boleto and an invoice?
• How do I pay a bank slip?
• Is it worth paying a bill in installments?
• What is DDA?
• How does the Nubank bill search engine work?
• Conclusion.

How does the bank slip work?

The bank slip was created by the Central Bank of Brazil in 1993. With this document, it is possible to make charges in virtual and physical environments. 

Despite the popularization and diversification of electronic payment methods, this document is still widely used in the country. 

Many people prefer to pay their bills via bank slip, especially those who don't have a credit card. 

To make this payment method even more advantageous, it is now even possible to pay for purchases in installments using a bank slip. 

This feature innovated this payment method, but did not make it lose its simplicity and practicality. 

This document is regulated by Febraban (Febraban) and is therefore very secure. Among the data that must be included on the bank slip, we can highlight, for example:

• Expiration date;
• Amount of charge;
• Details of the company or individual responsible for the collection;
• Name of the financial institution responsible for the collection. 

In addition, the bank slip also includes a barcode, as it is precisely with this information that the payer can make the payment of the slip. 

How do you make a bank slip?

In addition to paying your bills with bank slips, you can also make charges using this payment method. 

If you work in any type of sales, this can bring you many advantages, for example, offering more payment methods to your customers who buy online.

To issue a payment slip, you need to have a digital account that accepts deposits via bank slips. 

Then, you access the app and generate a billing slip for the desired amount;

Share the boleto with the person to make the payment. After payment, the money will be in your account within two business days. 

Among the best digital banks for paying and issuing bank slips, we can highlight:

• Nubank;
• Inter;
• Iti;
• Bitz;
• Mercado Pago;
• PicPay;
• Super Digital;
• Banqi;
• PagBank.

What is the difference between a boleto and an invoice?

The invoice is a commonly used credit card document. It lists all the details of your card expenses. 

Practically everything you need to know about your credit card and its expenses are on your statement: amounts, interest rates, available and used credit limits, installment plans, etc.

In addition to information about the services or items purchased, the invoice also includes a bank slip, which corresponds to the amount to be paid for the services or products described.

It may include future charges and can also be paid in installments. With this option, the customer has the option to pay only part of the amount charged. 

However, the new values will be recalculated with interest added. 

An invoice is not a billing item unless it contains a billing code. Therefore, it serves only as an informative service. 

However, the boleto does not necessarily need an invoice, but it must contain important information about the charge, just like the invoice. 

Furthermore, the payment of the bill must be in full, it is like a cash payment.

As mentioned previously, it is now possible to pay bills in installments, but this is done differently than with invoices.

You need to go through a credit analysis at an institution that offers installment payments; in fact, it works like financing.

If the company approves the installment plan for your bill, you can purchase the item. You can find out more details about bill installment plans with VirtusPay. 

Now that you've discovered what is a bank slip, do you know how to pay one? Follow along! 

How do I pay a bank slip?

As the contemporary thinker said: A person with paid bills doesn't want war with anyone! 

If you have a bill coming due but don't know how to pay it, don't worry! I'll explain. 

You can pay a bill at bank branches, lottery outlets, ATMs, online banking, or through your bank's app. 

If paying in person, the payment slip must be printed; not all establishments accept only the barcode number. 

Do the following: bring the bill number and a printed version, if required. 

Ideally, they should not be printed, as this prevents scams with fake bills, with the exception of bills that you already receive printed from the collection company. 

However, for bills generated online, it's best not to print them. You can pay them through your bank's app or online banking.

Besides being more convenient, it's safer. Learn more in the text🔜 I paid a fake bill, what now?

Is it worth paying a bank slip in installments?

The bank slip is a cash payment method. However, some credit cards offer installment payments, such as the PicPay Card. 

With this option, you can pay your bills in up to 12 installments. The collector will receive the payment upfront, but PicPay will assume the debt.

In other words, you will pay the amount on your credit card bill in installments, however, this service has interest added. 

If you choose to pay your bill in installments with another company, this service will also incur interest charges, which may be higher compared to those of a digital account.

Therefore, It is not worth paying a bank slip in installments. This way, you avoid interest charges. 

Another way to avoid interest charges is to not delay paying your bills. To make the process easier, you can set up direct debit for your bill payments or use Boleto DDA. 

What is DDA?

The acronym DDA stands for Authorized Direct Debit. With this service, the bank can track all bills issued under your CPF. 

This way, you have access to all bills before their due date, so you can organize yourself and pay them on time.

DDA differs from direct debit in that it only tracks bills and other charges linked to your CPF or CNPJ. However, you must authorize payment of the bills.

This feature makes it easier to control your payments and eliminates the need to issue payment slips.

Besides saving time, the environment also benefits. Furthermore, this service is free at most institutions. 

Another advantage is that you don't need to type in the bill numbers and risk making a mistake.

Unfortunately, some bills cannot be paid via DDA, including:

• Tax collection slips;
• Utility bills.

However, you can set up automatic debit for these bills so you don't miss out on payments. 

Although not very well known, DDA is the fourth most used payment method in Brazil, in terms of transaction numbers. 

In fact, it is offered by many institutions, for example, C6 Bank, Mercado Pago, PicPay, Iti and Nubank. 

Learn more about this new feature at Nubank below!

How does the Nubank bill search engine work?

With Nubank, you can search and organize your bills in one place, and you can also easily make payments through the app. 

The function of Nubank bill search It is still new to the app and is being gradually released to customers. 

To check if it is already available, open the menu and click on “Payment Assistant”, then click on “Boleto Search”.

Read the information that appears on the screen and click "Activate." Finally, enter your four-digit password to confirm. 

Now just wait for Nubank to get back to you to let you know if the activation has been completed. 

If you're not yet a Nubank customer, open an account to take advantage of this service and never miss a bill payment again. 

The Nubank digital account is one of the most advantageous available today. It has no annual fee, and its credit card is also free. 

Additionally, any balance left in the account for more than 30 days earns up to 100% of the CDI. This account is also an alternative to help you save, invest, and make your dreams come true. 

You can open an account in just a few minutes, and even if your credit isn't approved, you can still use your account normally and enjoy many advantages and benefits.

Read our text and find out🔜 How to open an account and request a Nubank card.  

Conclusion

In this text you discovered what is a bank slip, in addition, discovered how to issue and pay a bill.

Here on our blog, you'll find plenty of content to help you organize your finances and always choose the best services. 

Keep following our news!