The best, fastest & cheapest ways to send money to Brazil

The exchange rate determines how much BRL the recipient will get when you transfer money to Brazil.

For example, today, the average exchange rate between US Dollar and Brazilian Real is 5.5874.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more BRL.

If you do need to send BRL now, we suggest using Wise. Their rate for transfers to Brazil was the best over the past 7 days.

The cheapest way to pay for your transfer to Brazil is via bank transfer with Panda Remit. It is 0.12% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of BRL you receive.

Here are your cheapest options:

*Based on a $7,000 transfer to Brazil using our 7-day comparison data. Transfer time is based on averages from multiple companies.

Avoid using a debit card option for transfers to Brazil, as it’s the most expensive.

Credit card transfers to Brazil come with cash advance fees and higher interest rates on BRL.

When possible, avoid sending BRL over the SWIFT network. Despite its name, SWIFT transfers to Brazil are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

Here are a few examples:

Sending under $1,000 to Brazil

When sending small amounts, money transfer apps are your best option. WorldRemit can provide lightning-fast transfers, though Global66 offers a better exchange rate.

Sending $1,000 or more to Brazil

Most transfer providers are set up to handle transactions of $2,000 or less. However, WorldRemit will allow you to send up to $5,000 for each transaction, with a 24-hour limit of up to $9,000.

Sending $10,000 or more to Brazil

A transfer of $10,000 or more will exceed WorldRemit’s 24-hour transfer limit, but you can use Global66 to transfer $30,000 each month. Also, Wise allows you to transfer up to $15,000 when paying with a bank transfer.

Sending $100,000 or more to Brazil

You’ll find that most money transfer apps aren’t sufficient for large transfers. Your best option is to pursue an online broker like Currencies Direct or TorFx or find a way to break your payments into smaller monthly transfer amounts.

In general, the quicker you need BRL delivered, the more it will cost you in fees.

Transfer speed to Brazil depends on the BRL amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $7,000 from the US to Brazil.

Overall, of 8 companies serving Brazil, Panda Remit is the fastest regardless of the deposit method, appearing 100% of the time in our searches.

For bank or debit card deposits, services like Panda Remit excel in this regard, offering near-instantaneous and cheapest BRL transfers with $4 or $0 fees respectively and 0.3% markup.

For most urgent transfers to Brazil, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for BRL transfers as it's slower due to intermediary banks in Brazil.

There are a few ways to send money to Brazil:

Online

You can send money to Brazil with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our 7 days analysis. They’ve appeared 100% of the time for BRL transfers in our search system.

App

Many transfer services have native apps to send money to Brazil, including Wise, Remitly, and XE. The recipient can receive money directly into their bank account or digital wallet such as PicPay.

In-person

Cash transfers to Brazil in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect BRL.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Brazil. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to Brazil.

If you need cash right away, check if cash pickup is an option for transfers to Brazil.

You can also receive money using digital wallets, including:

• PicPay

• NuBank

• Mercado Pago

• PagBank PagSeguro

These are ideal for those who don’t have a bank account in Brazil or lack immediate access to their accounts.

Please also note that CashApp is not available in Brazil.

To receive money in Brazil, recipients will need to show a valid form of ID, such as their:

• Brazilian driver’s license

• Passport

• Brazilian ID card

Also, ensure the sender has your accurate SWIFT and IBAN codes to guarantee a safe transfer.

To send money to Brazil, you’ll need to provide the following:

• Your personal info: When you create an account, you’ll be asked for your full legal name, your contact information, and a valid form of Brazilian photo ID (such as a driver’s license or passport); your info will be stored in the app for future transfers.

• Your recipient’s info: You’ll also need the recipient’s name, contact details, and banking info, including their SWIFT code (which identifies the bank) and IBAN — in Brazil, the IBAN is a 29-character code consisting of a two-character country identifier (“BR” for “Brazil”), two IBAN check digits, bank and branch identification numbers, and the recipient’s account number—for example, BR2300330109123443213123987C1.

• Your preferred method of payment: Most providers let you select a bank transfer, credit or debit card, or your digital wallet.

If you're making a large transaction to Brazil, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large BRL transfers and will help you get things done fast.

Senders don’t usually pay tax on non-commercial transfers.

In some cases, you might need to pay tax on gifs depending on where you send money from.

For example, if you send a gift from the US and it exceeds the USA’s gift allowance, the sender might need to report it to the IRS.

That said, you can expect to pay tax if any of the following conditions are true:

• You have a foreign bank account containing over $10,000

• You’re sending more than $10,000 from your business

• You exceed the gift allowance

Recipients are also subject to the Imposto de transmissão causa mortis e doação (inheritance tax).

The exact terms vary from state to state, but gifts can be subject to as much as 8%, depending on the transfer amount.

Furthermore, any funds sent for commercial purposes will be taxed as worldwide income, meaning the recipient must report the money on their income taxes.