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

Revolut (P2P Transfer) is the cheapest way to send money from Brazil to Mexico. Sending R$40,000 will get your recipient 134,323.84 MXN in minutes.

With Revolut (P2P Transfer), deposit via bank transfer and withdraw in bank deposit to get the most MXN in Mexico.

Best companies for BRL/MXN transfers

6 of 6 providers

Last updated on 10 November 2026

Based on 40,000 BRL transfer

Best companies for BRL/MXN transfers

Sort Cheapest
Promoted

Wise

Pay via Bank transfer
Fee R$1,670.19 1 BRL = 3.3546 MXN +0.10% vs mid-market Recipient gets $128,580.80 Within minutes
Multi-currency cardReceive to bank accountDedicated support for large transfers

Ways to receive money in Mexico with Wise when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
R$1,670.191 BRL = 3.3546 MXN
$128,580.80You payR$40,000.00
Promoted

Regency FX

Pay via Bank transfer
Fee R$0.00 1 BRL = 3.3490 MXN +0.27% vs mid-market Recipient gets $133,961.17 Minutes - 24 hours
Personal account managerReceive to bank accountProfessional, personal service

Ways to receive money in Mexico with Regency FX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 BRL = 3.3490 MXN
$133,961.17You payR$40,000.00

Run a live search

Showing top Brazil to Mexico deals for 40,000 BRL. Do a live search with your exact amount for today's best rates.
Fast and no fee transfers between Revolut accounts

Revolut (P2P Transfer)

Pay via Bank transfer
Fee R$0.00 1 BRL = 3.3581 MXN 0.00% vs mid-market Recipient gets $134,323.84 Minutes
0 reviews
Cheapest
Multi-currency card

Ways to receive money in Mexico with Revolut (P2P Transfer) when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes
Free1 BRL = 3.3581 MXN
$134,323.84You payR$40,000.00

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.

Exclusive: First Transfer Deal

Regency FX

Pay via Bank transfer
Fee R$0.00 1 BRL = 3.3490 MXN +0.27% vs mid-market Recipient gets $133,961.17 Minutes - 24 hours
Personal account managerReceive to bank accountProfessional, personal service

Ways to receive money in Mexico with Regency FX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 BRL = 3.3490 MXN
$133,961.17You payR$40,000.00
Pricing based on Revolut Standard plan

Revolut

Pay via Bank transfer
Fee R$60.00 1 BRL = 3.3336 MXN +0.73% vs mid-market Recipient gets $133,142.69 Within minutes
Fastest
Multi-currency cardReceive to bank account

Ways to receive money in Mexico with Revolut when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutes
R$60.001 BRL = 3.3336 MXN
$133,142.69You payR$40,000.00

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.

TapTap Send

Pay via Debit card
Fee R$0.00 1 BRL = 3.3200 MXN +1.14% vs mid-market Recipient gets $132,800.00 Minutes
Receive to bank account

Ways to receive money in Mexico with TapTap Send when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositMinutes
Free1 BRL = 3.3200 MXN
$132,800.00You payR$40,000.00
Cash pickupMinutesAvailable via:7-Eleven, Bank Pickup, Bodega Aurrera, Chedraui, Coppel+5 more
Free1 BRL = 3.3200 MXN
$132,800.00You payR$40,000.00
Mobile moneyMinutesAvailable via:Elektra
Free1 BRL = 3.3200 MXN
$132,800.00You payR$40,000.00
Mobile walletMinutesAvailable via:Spin
Free1 BRL = 3.3200 MXN
$132,800.00You payR$40,000.00
Card depositMinutesAvailable via:Pay To Card
R$25.011 BRL = 3.3200 MXN
$132,800.00You payR$40,025.01

Wise

Pay via Bank transfer
Fee R$1,670.19 1 BRL = 3.3546 MXN +0.10% vs mid-market Recipient gets $128,580.80 Within minutes
Our top pick
Multi-currency cardReceive to bank accountDedicated support for large transfers

Ways to receive money in Mexico with Wise when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
R$1,670.191 BRL = 3.3546 MXN
$128,580.80You payR$40,000.00

Wise

Pay via Pix
Fee R$1,670.19 1 BRL = 3.3546 MXN +0.10% vs mid-market Recipient gets $128,580.80 Within minutes
Multi-currency cardReceive to bank accountDedicated support for large transfers

Ways to receive money in Mexico with Wise when paying by pix.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
R$1,670.191 BRL = 3.3546 MXN
$128,580.80You payR$40,000.00
$0 fee on first online transfers

MoneyGram

Pay via Pix
Fee R$0.00 1 BRL = 3.1788 MXN +5.49% vs mid-market Recipient gets $127,152.00 Minutes - 24 hours

Ways to receive money in Mexico with MoneyGram when paying by pix.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hoursAvailable via:Santander, HSBC, BanCoppel, Banorte, Citibanamex+3 more
Free1 BRL = 3.1788 MXN
$127,152.00You payR$40,000.00
Mobile walletMinutes - 24 hoursAvailable via:Mercado Pago, Spin By OXXO
Free1 BRL = 3.1788 MXN
$127,152.00You payR$40,000.00
Cash pickupMinutes - 24 hours
Free1 BRL = 3.1788 MXN
$127,152.00You payR$40,000.00
How Our Results Work
Mid-market rate: 1 BRL = 3.3581 MXN Updates every 60 minutes.

How to send money from Brazil to Mexico

Pick a company

Start with the cheapest, which is Revolut (P2P Transfer) at 134,323.84 MXN for a R$40,000 transfer.

Revolut (P2P Transfer) was the cheapest on 30 of the 30 days it quoted R$40,000 transfers to Mexico.

The IOF is the same whichever company you pick, so it's about the exchange rate markup and the fees.

Fund your transfer

You have 3 ways to pay, including bank transfer, pix, and debit card.

Verify and send

You'll need your CPF and a photo ID to register and verify your account.

Once that's done, you can send money to Mexico.

Compare amounts

How much BRL are you sending to Mexico?

How much BRL you send to Mexico heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.

Our analysis shows Revolut (P2P Transfer) was the cheapest in 100% of the transfers from R$40,000 it quoted, and in 100% of all the transfers it quoted.

Cheapest service
R$1,0000.00%R$0.00$3,359.51with bank transfer to bank deposit+$126.55
R$5,0000.00%R$0.00$16,799.76with bank transfer to bank deposit+$403.02
R$10,0000.00%R$0.00$33,606.74with bank transfer to bank deposit+$839.84
R$40,000This page0.00%R$0.00$134,323.84with bank transfer to bank deposit+$3,103.65
R$50,0000.00%R$0.00$167,941.30with bank transfer to bank deposit+$3,919.66
R$100,0000.00%R$0.00$335,927.10with bank transfer to bank deposit+$7,819.99

Mid-market rate: 1 BRL = 3.3581 MXN

BRL/MXN Exchange Rate History

Is today a good time to send money from Brazil to Mexico?

The cheapest way to send BRL to MXN can change every day, or stay with the same company all month.

We've compared the mid-market rate with the cheapest option each day (today it's Revolut (P2P Transfer)), across 30 days of comparisons for 40,000 BRL transfers to Mexico.

MXN received for R$40,000, after fees

Tue, Nov 10, 2026Mid-market rate$134,323.84 Revolut (P2P Transfer) $134,323.84Revolut (P2P Transfer)$134,323.84Regency FX$133,961.17Revolut$133,142.69

130,000
135,000
140,000
145,000
150,000
155,000
At the mid-market rateWith the cheapest optionRevolut (P2P Transfer)Regency FXRevolut
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6883 – $147,533.32
Revolut (P2P Transfer) Cheapest 3.6883 R$0.00 $147,533.32 Same
Regency FX 3.6784 R$0.00 $147,134.98 −$398.34
Revolut 3.6719 R$60.00 $146,654.77 −$878.55
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6595 – $146,379.36
Revolut (P2P Transfer) Cheapest 3.6595 R$0.00 $146,379.36 Same
Regency FX 3.6496 R$0.00 $145,984.14 −$395.22
Revolut 3.6431 R$60.00 $145,503.53 −$875.83
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6588 – $146,350.92
Revolut (P2P Transfer) Cheapest 3.6588 R$0.00 $146,350.92 Same
Regency FX 3.6489 R$0.00 $145,955.77 −$395.15
Revolut 3.6503 R$60.00 $145,794.89 −$556.03
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6651 – $146,605.08
Revolut (P2P Transfer) Cheapest 3.6651 R$0.00 $146,605.08 Same
Regency FX 3.6552 R$0.00 $146,209.25 −$395.83
Revolut 3.6484 R$60.00 $145,716.01 −$889.07
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6096 – $144,385.36
Revolut (P2P Transfer) Cheapest 3.6096 R$0.00 $144,385.36 Same
Regency FX 3.5999 R$0.00 $143,995.52 −$389.84
Revolut 3.5939 R$60.00 $143,538.49 −$846.87
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6510 – $146,041.64
Revolut (P2P Transfer) Cheapest 3.6510 R$0.00 $146,041.64 Same
Regency FX 3.6412 R$0.00 $145,647.33 −$394.31
Revolut 3.6299 R$60.00 $144,978.30 −$1,063.34
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6510 – $146,041.64
Revolut (P2P Transfer) Cheapest 3.6510 R$0.00 $146,041.64 Same
Regency FX 3.6412 R$0.00 $145,647.33 −$394.31
Revolut 3.6299 R$60.00 $144,978.30 −$1,063.34
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6464 – $145,857.12
Revolut (P2P Transfer) Cheapest 3.6464 R$0.00 $145,857.12 Same
Regency FX 3.6366 R$0.00 $145,463.31 −$393.81
Revolut 3.6375 R$60.00 $145,282.58 −$574.54
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6479 – $145,917.80
Revolut (P2P Transfer) Cheapest 3.6479 R$0.00 $145,917.80 Same
Regency FX 3.6381 R$0.00 $145,523.82 −$393.98
Revolut No quote collected this day – – – –
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.6791 – $147,165.16
Revolut (P2P Transfer) Cheapest 3.6791 R$0.00 $147,165.16 Same
Regency FX 3.6692 R$0.00 $146,767.81 −$397.35
Revolut 3.6620 R$60.00 $146,259.56 −$905.60
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.7349 – $149,397.88
Revolut (P2P Transfer) Cheapest 3.7349 R$0.00 $149,397.88 Same
Regency FX 3.7249 R$0.00 $148,994.51 −$403.37
Revolut 3.7166 R$60.00 $148,442.73 −$955.15
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.7015 – $148,058.20
Revolut (P2P Transfer) Cheapest 3.7015 R$0.00 $148,058.20 Same
Regency FX 3.6915 R$0.00 $147,658.44 −$399.76
Revolut 3.6918 R$60.00 $147,451.46 −$606.74
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.7598 – $150,393.84
Revolut (P2P Transfer) Cheapest 3.7598 R$0.00 $150,393.84 Same
Regency FX 3.7497 R$0.00 $149,987.78 −$406.06
Revolut 3.7255 R$60.00 $148,797.59 −$1,596.25
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.7598 – $150,393.84
Revolut (P2P Transfer) Cheapest 3.7598 R$0.00 $150,393.84 Same
Regency FX 3.7497 R$0.00 $149,987.78 −$406.06
Revolut 3.7004 R$60.00 $147,792.90 −$2,600.94
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.7617 – $150,467.48
Revolut (P2P Transfer) Cheapest 3.7617 R$0.00 $150,467.48 Same
Regency FX 3.7515 R$0.00 $150,061.22 −$406.26
Revolut 3.2922 R$60.00 $131,489.04 −$18,978.44
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4585 – $138,338.88
Revolut (P2P Transfer) Cheapest 3.4585 R$0.00 $138,338.88 Same
Regency FX 3.4491 R$0.00 $137,965.37 −$373.51
Revolut 3.4239 R$60.00 $136,750.90 −$1,587.98
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4926 – $139,702.96
Revolut (P2P Transfer) Cheapest 3.4926 R$0.00 $139,702.96 Same
Regency FX 3.4831 R$0.00 $139,325.76 −$377.20
Revolut 3.4666 R$60.00 $138,455.17 −$1,247.79
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4976 – $139,904.40
Revolut (P2P Transfer) Cheapest 3.4976 R$0.00 $139,904.40 Same
Regency FX 3.4882 R$0.00 $139,526.66 −$377.74
Revolut 3.4719 R$60.00 $138,668.65 −$1,235.75
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.5092 – $140,366.88
Revolut (P2P Transfer) Cheapest 3.5092 R$0.00 $140,366.88 Same
Regency FX 3.4997 R$0.00 $139,987.89 −$378.99
Revolut 3.4824 R$60.00 $139,088.84 −$1,278.04
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4533 – $138,130.80
Revolut (P2P Transfer) Cheapest 3.4533 R$0.00 $138,130.80 Same
Regency FX 3.4439 R$0.00 $137,757.85 −$372.95
Revolut 3.4244 R$60.00 $136,771.10 −$1,359.70
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4533 – $138,130.80
Revolut (P2P Transfer) Cheapest 3.4533 R$0.00 $138,130.80 Same
Regency FX 3.4439 R$0.00 $137,757.85 −$372.95
Revolut 3.4244 R$60.00 $136,771.10 −$1,359.70
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4489 – $137,956.68
Revolut (P2P Transfer) Cheapest 3.4489 R$0.00 $137,956.68 Same
Regency FX 3.4396 R$0.00 $137,584.20 −$372.48
Revolut 3.4271 R$60.00 $136,877.17 −$1,079.51
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4165 – $136,660.64
Revolut (P2P Transfer) Cheapest 3.4165 R$0.00 $136,660.64 Same
Regency FX 3.4073 R$0.00 $136,291.66 −$368.98
Revolut 3.3961 R$60.00 $135,642.13 −$1,018.51
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4160 – $136,640.08
Revolut (P2P Transfer) Cheapest 3.4160 R$0.00 $136,640.08 Same
Regency FX 3.4068 R$0.00 $136,271.15 −$368.93
Revolut 3.3904 R$60.00 $135,411.29 −$1,228.79
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.3987 – $135,949.12
Revolut (P2P Transfer) Cheapest 3.3987 R$0.00 $135,949.12 Same
Regency FX 3.3896 R$0.00 $135,582.06 −$367.06
Revolut 3.3766 R$60.00 $134,863.39 −$1,085.73
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.4073 – $136,292.48
Revolut (P2P Transfer) Cheapest 3.4073 R$0.00 $136,292.48 Same
Regency FX 3.3981 R$0.00 $135,924.49 −$367.99
Revolut 3.3826 R$60.00 $135,100.46 −$1,192.02
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.3834 – $135,336.36
Revolut (P2P Transfer) Cheapest 3.3834 R$0.00 $135,336.36 Same
Regency FX 3.3743 R$0.00 $134,970.95 −$365.41
Revolut 3.3526 R$60.00 $133,901.77 −$1,434.59
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.3831 – $135,323.28
Revolut (P2P Transfer) Cheapest 3.3831 R$0.00 $135,323.28 Same
Regency FX 3.3739 R$0.00 $134,957.91 −$365.37
Revolut 3.3526 R$60.00 $133,901.77 −$1,421.51
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.3703 – $134,813.64
Revolut (P2P Transfer) Cheapest 3.3703 R$0.00 $134,813.64 Same
Regency FX 3.3612 R$0.00 $134,449.64 −$364.00
Revolut 3.3451 R$60.00 $133,601.69 −$1,211.95
Exchange rateFeeRecipient getsDifference
Mid-market rate 3.3581 – $134,323.84
Revolut (P2P Transfer) Cheapest 3.3581 R$0.00 $134,323.84 Same
Regency FX 3.3490 R$0.00 $133,961.17 −$362.67
Revolut 3.3336 R$60.00 $133,142.69 −$1,181.15

Exchange rateFeeRecipient getsDifference

Each line shows what the recipient gets when you send R$40,000, after fees, as quoted by each company. The mid-market line shows what R$40,000 converts to at the real exchange rate, with no fees or markup. Rates are checked once a day. Sponsored placements never affect this data. There are no bank quotes for this period.

The dashed line is what you'd get at the mid-market rate with no fees, and the blue line is the cheapest option that day.

When the blue line goes above the dashed one, you're getting more MXN per BRL than the mid-market rate can offer.

This could be due to money transfer offers, FX rate adjustments, or market competitiveness.

No company, app or bank beat the mid-market rate over the past month, meaning you lose a bit of MXN on every transfer from Brazil.

Today's payout isn't the best this month though, since the highest receive amount was 150,467.48 MXN.

If you can wait and want to get the most out of your transfer, create a rate alert and we'll let you know when the rate improves.

Cheapest over time

Picking the cheapest money transfer company

Just because a company is the cheapest today doesn't mean it's always the best option for sending money to Mexico.

We've tracked 176 comparisons to check how often today's top companies were the cheapest across 6 amounts over the past month.

  1. Revolut (P2P Transfer)Appeared in 161 comparisons

    Cheapest every time

  2. Regency FXAppeared in 85 comparisons

    Never the cheapest

  3. RevolutAppeared in 165 comparisons

    Cheapest in 2% of them

Based on 176 comparisons across 6 amounts over the last 30 days.

Different companies can come out cheapest depending on the day and the amount you send.

To keep things fair, we only count the comparisons each company appeared in, and only analyse companies that appeared in at least 50% of all comparisons (so occasional cheapest options don't skew it).

Today Revolut (P2P Transfer) is the cheapest and gets you the most MXN, and it was also the cheapest in 100% of the 161 comparisons it appeared in over the past month.

It's a good pick for both one-off and regular transfers to Mexico.

Ways to send money from Brazil to Mexico

There are 6 ways to send money to Mexico across 6 money transfer companies.

For everyday transfers

Online transfers

For most transfers from Brazil to Mexico, money transfer companies like Revolut are the cheapest way.

You can fund an online transfer with bank transfer, pix, and debit card.

Revolut charges R$60 and adds 0.73% markup when sending R$40,000, this will get you 133,142.69 MXN in Mexico.

In our comparisons over the past month, it was the cheapest online service on 20 of the 29 days it quoted.

For property and other large transfers

Currency brokers

Brokers are best for large transfers, they will negotiate a better BRL/MXN rate, handle the paperwork, and guide you over the phone.

Regency FX converts BRL to MXN with an exchange-rate markup of around 0.27%.

I'd suggest , since the rate gets better the more you send.

Our analysis shows Regency FX was the cheapest broker in 100% of the transfers from R$40,000 it quoted.

For receiving cash in Portugal

Cash pickup

If your recipient in Mexico needs cash, you can do it with MoneyGram.

Sending R$40,000 will get you MX$127,152 after the fees with MoneyGram.

Your recipient will collect cash at the nearest MoneyGram branch in Mexico.

Our data shows MoneyGram came out cheapest among in-person options on 100% of days in the past month.

Holding AUD and other currencies

Multi-currency accounts

Revolut lets you hold, convert, and spend BRL and MXN from one account.

Swapping R$40,000 with Revolut will get you 133,142.69 MXN after all fees.

Over the past month, it came out cheapest among multi-currency accounts on 100% of days.

You can then spend it in Mexico or Brazil and receive MXN payments.

For freelancers & businesses

Global accounts

Global accounts like Airwallex, Wise Business, and Payoneer help with international MXN payments, invoicing, receiving payments, and more.

These are great for Brazilian businesses and freelancers, but not personal transfers.

Ways to fund BRL and receive MXN in Mexico

With Revolut (P2P Transfer), paying by bank transfer and receiving through bank deposit is the cheapest combination. Sending R$40,000 gives your recipient 134,323.84 MXN.

For paying for your transfer, you have bank transfer, pix, and debit card.

You can fund the transfer with Pix

You can use Pix as a funding method, but it can’t send BRL to Mexico directly.

Scan the company's QR code or copy its Pix key, then approve R$40,000 in your Brazilian banking app.

For withdrawals in Mexico, they can get it as bank deposit, cash pickup, mobile wallet, mobile money, and card deposit.

IOF can apply when you convert and send BRL abroad, so double check the tax shown before you send.

  1. 1
    Bank transfer Bank deposit

    You pay R$40,000.00

    MX$134,324

    Cheapest

  2. 2
    Debit card Bank deposit

    You pay R$40,000.00

    MX$132,800

    -MX$1,524

  3. 3
    Debit card Cash pickup

    You pay R$40,000.00

    MX$132,800

    -MX$1,524

  4. 4
    Debit card Mobile money

    You pay R$40,000.00

    MX$132,800

    -MX$1,524

  5. 5
    Debit card Mobile wallet

    You pay R$40,000.00

    MX$132,800

    -MX$1,524

Show moreShow less
  1. 6
    Debit card Card deposit

    You pay R$40,025.01

    MX$132,800

    -MX$1,524

  2. 7
    Pix Bank deposit

    You pay R$40,000.00

    MX$128,581

    -MX$5,743

  3. 8
    Pix Mobile wallet

    You pay R$40,000.00

    MX$127,152

    -MX$7,172

  4. 9
    Pix Cash pickup

    You pay R$40,000.00

    MX$127,152

    -MX$7,172

Consider this when sending BRL to Mexico

Brazilian transfer quotes should show the tax, fee and exchange rate. The easiest way to compare them is through the VET, then check whether the payment is a transfer of your own money or a gift.

Compare BRL/MXN transfer options

For a R$40,000 payment to Mexico, I suggest starting with these:

Cheapest:

Revolut (P2P Transfer), funded by bank transfer with bank deposit in Mexico. Your recipient gets 134,323.84 MXN, which is 0.27% more than the next best option.

Fastest:

Revolut, paid by bank transfer with bank deposit for the payout. It delivers 133,142.69 MXN in within minutes.

Pix can fund but not send

Pix can be used to deposit BRL from your bank to the transfer company's Brazilian account, but it cannot send money directly to Mexico.

The company then switches to local rails or uses an internal network of accounts to move BRL to Mexico.

A gift can have a separate state tax

Moving your own money and making a gift are not treated the same.

A gift may fall under ITCMD, which is set and collected by the relevant Brazilian state.

The rate, exemption and filing process depend on the state and the facts of the gift.

Check this before sending a large amount to family, particularly when the sender, recipient or estate has links to different states.

Use a company authorised for câmbio

The Banco Central do Brasil says an authorised institution or its correspondent should explain the required documents and provide the VET.

If in doubt, check the institution's legal name with the Banco Central before sending.

Reclame Aqui can show service problems, but it does not replace the regulatory check.

How we analyse the market

We track 6 authorised companies sending BRL to Mexico, updated in real time during live comparisons.

The IOF is identical whoever you pick, so we compare on the spread and the all-in rate, plus the ways to pay and collect.

In the past 30 days alone, we analysed 176 comparisons across 6 amounts.

This page covers the cheapest and fastest options for BRL/MXN transfers. This is how we pick them:

  • Cheapest: the company that gets your recipient the most, after fees and the exchange rate. On a tie, live pricing from the company takes priority over the rates we collect by hand.

  • Fastest: the company with the shortest estimated delivery time once you’ve paid. On a tie, the one that pays out more takes priority.

Each goes through our review. More on who we are, why you can trust us and how to get started.

Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.