Fortunately, sending money to Brazil is relatively easy, and there are great options available to you. The even better news is that Brazil is an inexpensive country to send money to if you choose the right service.
As of the time, this was written, the exchange rate for the Brazilian Real (BRL) is 3.7474 BRL per American Dollar (USD). The high for the last 90 days was 4.0992 BRL per USD, with the low being 3.7189 BRL per USD. The average exchange rate was 3.8953 BRL per USD over the last 90 days.
The 90-day average volatility for the BRL was 0.63% against the USD. This is relatively high volatility which reflects the current economic challenges in Brazil. The BRL has fluctuated widely and unpredictably over the course of the last two years. You can reasonably expect large fluctuations to continue going forward, barring unforeseen changes in circumstances in Brazil.
There are several ways to transfer money to Brazil very quickly. For the purposes of this guide, we will introduce you to Ria Money Transfer’s fast service because they add affordability to their fast transaction speeds. With Ria Money Transfer’s fast service, your money should reach its Brazilian destination in a matter of minutes. The cost should be very low too, as they offer a low upfront fee and their hidden currency conversion costs are relatively low as well.
Other fast options for sending money include ShareMoney, and the fast versions of Western Union, Xoom, or MoneyGram. Keep in mind that although all of these options should work in less than an hour, they are all very expensive options.
The cheapest way to transfer money to Brazil is through Ria Money Transfer. If you are considering this option for its cheap rates, make sure you are choosing the slow version of Ria Money Transfer. With the slow version of Ria Money Transfer, it should only cost about $7 USD to send $1000 USD to BRL from the US. They charge a very low upfront fee, but it’s the hidden currency conversion rates that keep Ria Money Transfer relatively cheap. Their hidden rates are next to nothing.
The only problem with Ria Money Transfer’s slow service option is that (unsurprisingly) it’s very slow. You can expect each transfer to take 3-5 business days.
The generally easiest way to send funds online is through TransferWise. TransferWise makes it exceedingly easy to transfer money. All you need to do is tap how much money you need to send, and the destination. After that, you only need to make the payment. The interfaces are straightforward, and you’d be getting a pretty good deal all-around with TransferWise. The transfer would only take a couple days and it’s the cheapest option after Ria Money Transfer.
The overall best way to transfer money to Brazil is through Ria Money Transfer’s fast service. While the faster service will cost you more than twice as much as their slow service, the overall value is still great. You can expect a standard upfront fee and relatively low hidden fees that work out to a much better value than the competition. To add even more value, it is one of the fastest options available to you, taking only minutes to complete a transfer. With Ria Money Transfer’s fast service, you get better rates, better speed, and a better overall deal when you send money online.
Ria Money Transfer is also the: