How to send money to Mexico from Brazil with the best BRL-MXN rate

An exchange rate determines the price you will pay when buying Mexican Peso. A better exchange rate means more money reaching the recipient in Mexico.

The current rate between the Brazilian Real and Mexican Peso is 3.3779. With the BRL-MXN exchange rate changing almost constantly, it pays to know the averages to get a better deal.

The total cost of sending money to Mexico from Brazil, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: Currently, the mid-market for BRL-MXN is 3.3779 MXN per Brazilian Real.

• Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. Revolut (P2P Transfer), cahrges 0 BRL per transfer, which is currently the cheapest option. Although you should search for your send amount for actual fees.

• Amount Received: Money transfer companies will show you the amount of Mexican Peso eventually received in Mexico.

A better option is to use a forward contract can also allows you to lock in an agreed exchange rate between Brazil and Mexico.

Paying via bank transfer is the payment method that will get you the best price with a money transfer company. When sending money from Brazil to Mexico.

Here are all the ways to send money from Brazil to Mexico:

Bank transfers

A bank transfer is often the default option for money transfers from Brazil to Mexico.

By using a money transfer company such as Revolut (P2P Transfer) to send money from Brazil to Mexico, you can while benefit from lower fees and more favorable exchange rates than a bank would offer. 


Debit and prepaid cards

Sending money from Brazil to Mexico with a prepaid or debit card is very easy with Taptap Send.


Taptap Send is a great choice for sending money with a debit card from Brazil to Mexico. This is from the 5 money transfer companies compared.

Credit cards

When it comes to credit card money transfers from Brazil to Mexico there aren't that many options, mainly because it's more expensive.

If you have to, we recommend running a quick comparison to get the best deal on MXN

Companies offering money transfers between Brazil and Mexico have minimum or maximum thresholds on how much money you can send.

Rates and fees for different transfer amounts could change if you pass a threshold - that’s why it’s best to compare BRL-MXN rates for your specific transfer amount.

For regular transfers from Brazil to Mexico, shopping around each time can make a huge difference.

We’ve recommended Wise for sending BRL to Mexico, because of their combination of rates and fees when sending from Brazil to Mexico that is the most competitive, even at larger amounts.

Check with the recipient and understand any declarations needed on large amounts of money entering Mexico from Brazil.

There are different ways to receive Mexican Peso in Mexico. The most popular options are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

All providers work differently and not all offering transfers from Brazil to Mexico support every method for receiving Mexican Peso so it’s best to check ahead of time.

Sending directly to a bank account in Mexico is one of the most common ways to receive money from Brazil. For most part, this is convenient but does have receiving fees to potentially be aware of.

Wise is the best company for bank transfers between Brazil and Mexico.

Cash pickup is popular in Mexico, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Zelle, and CashApp are popular because of convenience. They come with more limitations and higher costs compared to money transfer providers like Revolut, and are recommended for domestic payments only.

When sending Mexican Peso to Mexico, you will need to verify your ID with your chosen money transfer company.

The documents you need will vary and in some cases you might need more than one.

For the most part, accepted IDs in Brazil include government issued IDs such as passports or driver's licenses. If the recipient needs an ID to collect money in Mexico, the options are similar.

Large transactions between Brazil and Mexico can be subject to additional checks such as proof of funds for anti-money laundering purposes. These won’t be needing when signing up, but will be need ahead of any transfer.

One of the reasons Wise has scored so highly for transfers to Mexico is their easy sign up process in Brazil.

When sending money between Brazil and Mexico there will be tax declarations to consider.

Some transfers into Mexican Peso may need to be reported to tax authorities in Mexico and Brazil, depending on size and particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Mexico based on age, income and a few other elements - such as whether the funds are a gift. Tax law can be confusing, when in doubt, please contact a tax professional in Brazil or Mexico to discuss your personal circumstances to ensure you are not missing any specific tax declarations associated with your international money transfer.