How to send money to Portugal from Brazil with the best BRL-EUR rate

The exchange rate is the price you will pay when buying Euro in Brazil. A better exchange rate means you send more Euros to Portugal.

Currently, the mid-market rate between the Brazilian Real and Euro is 0.1692.

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from Brazil to Portugal.

• The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more Euro for your Brazilian Real. The current BRL-EUR mid-market rate is 0.1692 EUR per Brazilian Real.

• Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Brazilian Real you’re sending to Portugal. Revolut currently has the lowest fees for transfers into EUR of just 60 BRL. We always recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Euro is the biggest indicator of the total cost of sending money to Portugal from Brazil. The bigger the amount received in Portugal, the lower the overall cost of sending from Brazil.

A better option is to use a forward contract. This allows you to lock in an agreed exchange rate for transfers between Brazil and Portugal for a set amount of time, this can be up to two years in some cases.

Sending through a money transfer company via a bank transfer will most often be the way to get the best price when sending money from Brazil to Portugal.

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

Bank transfers

Bank transfers are often the better option for money transfers from Brazil to Portugal.

Sending money via a bank transfer with a company such as Revolut for transfers from Brazil to Portugal allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from Brazil to Portugal with a prepaid or a debit card is very simple with Revolut.


Revolut is a leader in card payments for transfers from Brazil to Portugal, competing among a total of 4 active money transfer companies on this route.

Credit cards

We recommend avoiding credit card deposits as it usually means taking a cash advance and using it for the deposit. Instead, use a bank transfer or a debit card deposit to save on fees.

If you have to, we recommend running a comparison to find the best deal for your transfer.

Money transfer companies offering services between Brazil and Portugal have minimum or maximum thresholds on how much you can send or receive. These can be daily, weekly or monthly.

In particular, rates and fees for sending different amounts of Brazilian Real could change. We always recommend comparing BRL-EUR rates for your specific transfer amount. Then, with transfers to Portugal, shopping around each time can make a huge difference - as some providers offer introductory rates.

If you’re worried about transfer limits, for sending large amounts of BRL to Portugal, we’d recommend Wise.

There are different options for receiving Euro in Portugal. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from Brazil to Portugal will offer every method for incoming Euro, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from Brazil into Portugal. For most part, this is because it means the recipient has to do very little. Wise is the best company for bank transfers between Brazil and Portugal.

And if you need cash right away, check if cash pickup is an option for transfers between Brazil and Portugal.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Revolut.

You will need to verify your ID at the sign up stage when sending from Brazil to Portugal through a money transfer company.

Documents needed will vary and in some cases you might need a couple of different forms of ID.

ID can be verified in Brazil through a government issued ID such as a passport or driver's license. If the recipient needs ID to collect money in Portugal, both of these will also likely be accepted. Depending on the company you are using and where the money is going in Portugal, it’s always best to check ahead just in case.

Larger transactions between Brazil and Portugal are likely to be subject to additional checks such as proof of funds for anti-money laundering purposes. This could slow down the process of sending money if you’re not prepared for them.

One of the reasons Wise scored so highly for large and regular transfers to Portugal, was their easy sign up process in Brazil.

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

Some transfers into Euro may need to be reported to tax authorities in Portugal. This is of particular note where inheritance or property purchases are involved.

Personal allowances and tax limits will change in Portugal based on age, income and personal circumstance. When in doubt, please contact a tax professional in Brazil or Portugal to discuss your individual needs. This will ensure you are not missing any specific tax obligations associated with your transfer.