Ways to Transfer Money to Brazil
A lot of companies are looking to outsource work to Brazil.
A lot of expatriates live in Brazil. At the same time, many Brazilians live outside of Brazil. Transferring money to Brazil is therefore in growing demand.
Let’s look at available options to send money to Brazil.
Bank and Wire Transfer to Brazil
The best and secure ways to transfer money to Brazil is of course through banks, but the bank charges could inch really high. If it is your employees that you wish to pay in Brazil, you should be aware of your employee’s swift code that is like IBAN (but IBAN is not available in Brazil) and that is mandatory for a bank transfer.
Wire transfer is another option to send money to Brazil and is subject to the bank’s approved charge for every transfer. Generally it is 1% of the total amount to be transferred.
Sending Money to Brazil via Electronic Means
There are other ways to transfer money to Brazil- PayPal, Payza Moneybookers, LCC International Money Transfer and many other eMoney exchange services allow people to transfer money between countries at a certain charge along with currency converting charges. This cost of transferring money is much less than an international bank transfer and is also a safe method to transfer money online.
If you want to send money to Brazil for any other purpose or even from Brazil to some other country, Western Union is one of the most feasible and practical options. Also, on the plus side, you do not need to deal with a lot of tedious paperwork and it is easier to get money through a western union outlet than through bank or online services, especially for the less tech-savvy masses.
However, remember that western union too charges a good percentage of money to transfer to Brazil (the charges vary from one country to another).
These were some of the most popular methods of transferring money to Brazil, however the list isn’t exhaustive.