Tips on Sending Money to Brazil

By Chloe Banks | January 12, 2009

There are different ways to send money to Brazil. One of these is through having a relationship with an American bank that also has a presence in Brazil.

Money being sent between accounts within the same bank is often processed more quickly. Therefore it might be a good idea to open an account locally with the same bank so that the recipient can get access to funds faster.

Bank transfers between different banks aren’t difficult, but can entail a waiting period of up to 5 business days with higher costs.

Through banks, you can also initiate wire transfers to Brazil. A wire transfer gets the money to its destination quickly, but there needs to be a corresponding bank to receive the wire transfer. Fees can be very high for international wire transfers, but if the money needs to arrive quickly, this is a viable option.

Yet another way to send money regularly to Brazil is through an ATM or pre-paid debit card. This is not the best method in case of an emergency as it takes time for the card to be sent to the person receiving the funds.

Make sure you have a debit card that will ensure money can be withdrawn from a large network of ATMs in Brazil. If using an ATM card, make sure you trust that the recipient is not accessing funds without your permission. A pre-paid debit card is a safer way to ensure the recipient receives the exact amount of money intended.

In addition, online payment services such as ATM Cash are a popular way to get money to Brazil quickly. Online services allow you to send money 24/7 from your computer and for a less amount of money.

The above are the most inexpensive, safest way to send money to Brazil

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