Send Money to Brazil

Brazil flagIf you need to send money to Brazil, avoid going to a bank. Not only that banks are notorious for having slow transfers, but they also charge quite a bit in fees just to transfer the money.

By reading this Brazil Money Transfer Guide you will learn how to dodge the big fees, how to cut the delivery time in half and, best of all, how to get access to a better currency exchange rate for your currency.

The Guide’s Topics:

Best Companies To Transfer Money To Brazil

From UK to BrazilFrom USA to BrazilFrom Europe to BrazilFrom Australia to Brazil
MerchantGBP 1,000.00 to BRL Rate Rating
MerchantUSD 1,000.00 to BRL Rate Rating
MerchantEUR 1,000.00 to BRL Rate Rating
MerchantAUD 1,000.00 to BRL Rate Rating

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Additional Options for Sending Money to Brazil

Currencies Direct is highly recognized for providing great currency exchange rates and fee-free transactions, and Brazil is one of those destinations. Brazilian Real is only one of the 100+ currencies that this company deals with. You can get the same benefits when sending to other countries like USA, Canada, Australia, China, Japan or any of the European countries.

With MoneyCorp you will get the same benefits but, you will also get (if you want) a Portuguese version of their website. This is especially great news for those that have trouble understanding the finance terminology in English.

You can also get a free quote and a call from one of their dealers to further explain every single detail of the transfer, so you can rest assured that your money is in safe hands.

Best Company to Send Money from Brazil

None of the companies reviewed on this website offer transfers from Brazil. We will keep researching this aspect.

Supported Regions & Currencies

Transferring money out of Brazil above R$10,000 has some restrictions. Please inquire into that before you decide to move money out of the country.

Today’s Foreign Exchange Rates for BRL

GBP to BRL – Pounds to Real; 10,000 GBP is 63,511.0000 BRL

BRL to GBP – Real to Pounds; 10,000 BRL is 1,574.5304 GBP

EUR to BRL – Euro to Real; 10,000 EUR is 54,578.1880 BRL

BRL to EUR – Real to Euro; 10,000 BRL is 1,832.2338 EUR

AUD to BRL – Australian Dollar to Real; 10,000 AUD is 35,823.0254 BRL

BRL to AUD – Real to Australian Dollar; 10,000 BRL is 2,791.5007 AUD

BRL to USD – Real to US Dollars; 10,000 BRL is 1,924.8949 USD

USD to BRL – US Dollars to Real; 10,000 USD is 51,950.8883 BRL

BRL to CHF – Real to Swiss Franc; 10,000 BRL is 1,857.2688 CHF

CHF to BRL – Swiss Francs to Real; 10,000 CHF is 53,842.5019 BRL

CAD to BRL – Canadian Dollar to Real; 10,000 CAD is 40,084.6998 BRL

BRL to CAD – Real to Canadian Dollar; 10,000 BRL is 2,494.7175 CAD

Popular BRL Routes

Popular currency transfer routes for people visiting this page:

  1. Send money to Brazil from UK (GBP to BRL)
  2. Send money from Brazil to USA (BRL to USD)
  3. Transfer from Brazil to EU (BRL to EUR)
  4. Transfer from Canada to Brazil (CAD to BRL)
  5. Transfer from Australia to Brazil (AUD to BRL)

Brazilian real behaviour

brazilian-currencyThe real is influenced strongly by the domestic monetary cycle and confidence in the global outlook. Inflation and current account issues leave the currency vulnerable to long-term depreciation.

Brazil has consistently run a higher inflation rate than the OECD average with an average of around 7% since 2010. The gradual erosion of internal purchasing power puts underlying downward pressure on the exchange rate.

The real tends to appreciate when the centre is tightening policy to curb inflation, weakening when the policy is eased to boost growth and with high volatility given the importance of investment flows.

The real performance is correlated strongly with wider dollar trends and the degree of confidence in emerging-market assets. When confidence is high, Brazil attracts strong capital inflows, especially given the overall yield structure, which strengthens the currency. These flows are quick to reverse when there is deterioration in confidence, a strong dollar and general vulnerability in emerging markets.

Commodity exports are very important for Brazil and China is the top destination for exports. The currency is, therefore, correlated with trends in the Chinese economy and wider developments in global agricultural prices, especially soybeans. The current account has been in deficit since 2008 which maintains overall currency vulnerability and the need for a competitive currency.

The real floats freely, but the central bank does intervene to smooth fluctuations, especially to curb unwanted appreciation.

Transfer money to Brazil bank account

The currency of Brazil is referred to as the “real”. It’s made up of 100 centavos and is regulated by the Central Bank of Brazil’s Monetary Policy Committee. There are many reasons why people choose to send funds over to this country, and some of the most common include:

Tourism: Tourism in Brazil has sky-rocketed in recent years, making it one of the most visited countries in the world. In fact, when it comes to South America in particular, it is the second most visited country! Some of the top spots to see while visiting include The Amazon River, The Amazon Jungle, Rio de Janeiro, the beaches and the rainforests. Of course, seeing the natural sites is well worth it, but there are also many great restaurants, tours and shops you can visit in the cities throughout this country as well.

Real Estate: Real estate in Brazil is coveted by many who want a vacation home or even rental property. This is why many investors send money to Brazil, as they would like to fund their investment in the easiest manner possible. There are many opportunities to purchase homes, and missing out now could mean having to spend more later on, as the prices are set to grow slowly but steadily.

Relocating To Brazil?

If you consider moving into Brazil and live there as an expat, you may find the following information helpful.

Advantages Of Moving To Brazil:

  • Many Holidays: Brazil has double the vacation days than many European countries.
  • Good Salaries: Brazilian companies have a high demand for skilled English speaking expats. Typically an expat can make 45,000 GBP per year or more based on years of professional experience.
  • Large Market Opportunities: The Brazilian government is giving tax credits for foreigners trying to invest with startup companies in Brazil. Tax credits can be up to 8%.

Disadvantages Of Moving To Brazil:

  • High Cost of Consumer Goods: The average iPhone in Brazil costs 1,300 GBP.
  • Crime: Usually you can only explore 10% of the city you live in due to the high crime.
  • High Levels of Bureaucracy: The average court case in Brazil takes four years to resolve. Statistics such as these lead to an increase in crime.

Popular Destinations in Brazil:

Popular cities for business and real estate transactions in Brazil are: São Paulo, Rio de Janeiro, Salvador, Fortaleza, Belo Horizonte, Brasília, Curitiba, Manaus, Recife and Belém.

Best Way To Send Money To Brazil

Sending money to Brazil used to cause many problems for investors as well as everyday people, one of the most common being a high cost in fees. However, there is now a much more cost-effective way to transfer money, and that’s using an FX company. These have become increasingly popular because they work quickly, are cheaper than other alternatives and are incredibly easy to access. In fact, you can use FX companies online, right from the comfort of your home or office. Never again will you have to stand in line at a bank or deal with clerks who aren’t familiar with what process to use. These companies give you convenience so you can transfer money on your schedule.

Many professionals, including real estate agents, have been recommending FX companies to their clients because of the many benefits. When it comes to buying a come abroad in particular, clients are able to save money on their transaction and get it done more quickly so they can use their investment as they wish.

It’s easy to see why using this service is such a great alternative, but how does it work to save you money? FX companies help reduce your costs because they buy currency in bulk that they are able to pay wholesale prices for. This results in the client (you) getting a better exchange rate while the FX company is able to re-sell the currency at a higher rate. If you were to go to a traditional bank, then you’d end up paying whatever the exchange rate was at the moment, which could mean spending a lot more than you anticipated.

What you need to send money to Brazil

  • Bank Name and Address
  • IBAN
  • Swift/BIC Code
  • Account Number
  • Receiver’s Complete Name

After you provide all the details listed above, the process is simple:

  • You create a free account with the company.
  • Receive a quote from one of the dealers.
  • Send the money to your account so you can fund the transfer.
  • Get confirmation from the company that the transaction is completed.

Our Company Recommendation:

Money Transfer Regulations in Brazil

International money transfers in Brazil are monitored by the Banco Central do Brasil. There are rules and regulations set in place by this institution, so it’s important to become familiar with these before you send any money. If you’re sending R$10,000.00 per transfer, then you don’t have to worry about filing any additional documentation.

However, if you are sending above that amount ( R$10,000.00), then you will need to send in additional documents, as required by Banco Central do Brasil. These will need to state the nature of the transaction as well as other details about it. This paperwork is incredibly important, so anyone sending above that R$10,000.00 amount needs to make sure they are diligent about getting everything done in the proper manner. The most common reason to send above this amount is for a real estate purchase or other investment transaction, so paying attention to documentation needed is important.

Whether you’re making an investment or sending cash to family, FX companies are well worth considering as an alternative to banks. Any amount sent under R$10,000.00 is permitted, making it easy to transfer a lot of funds without a lot of work. These companies will end up not only saving you time, but also saving you a lot of money for each and every transaction that you have. This is very useful for investors in particular, as they don’t want to spend more than is needed to start making more money. However, anyone who simply wants to save on expensive fees and exchange rates will find using FX companies incredibly useful.

If you had the patience to read through the whole article, we are sure that by now you have changed the way you look at the process of wiring money to or from Brazil. It doesn’t have to be costly, hard and time-consuming. You can send money to Brazil or send money from Brazil in a matter of minutes, from the comfort of your couch at home, online or by phone, and forget about the big fees and the bureaucracy that you get when using your local banks.