Send Money To Brazil

What you need to send money to Brazil

You need to verify your identity to begin the transfer process.  A driver's license or passport will suffice. You will need your bank account or credit/debit card details to pay for your transfer. You will also need the recipient's Brazilian bank account details.
 

Ways to receive money in Brazil

Residents of Brazil may receive international money transfers in different ways.

• Local bank account
• Cash pick-up
• Mobile top-up

Local bank account

Receiving money from overseas directly into a local Brazilian bank account is typically the most affordable method. You can send money to a bank account in just about any Brazilian bank.  Examples include Banco do Brasil, Banco Bradesco, Caixa Econômica Federal, Banco Santander Brasil, HSBC Bank Brasil, and Banco PanAmericano.
 

What you need to send money to a Brazilian bank account.

The information you need when sending money to a Brazilian bank account includes the recipient's full name, the reason for remittance, the recipient's taxpayer registry identification number (CPF/CNPJ), the recipient's International Bank Account Number (IBAN), the receiving bank's name, and the receiving bank's SWIFT code.

• The use of IBANs was made mandatory for receiving international fund transfers by Banco Central do Brasil in 2013.
• The Cadastro de Pessoas Físicas (CPF) refers to an individual's taxpayer registry identification number, whereas a Cadastro Nacional de Pessoas Jurídicas (CNPJ) is an identification number issued to businesses.
• A SWIFT code helps identify a specific branch of any banking institution. Example: The SWIFT code of the Rio de Janeiro branch of Banco do Brasil is BRASBRRJBHE.

Cash pick-up

If you need to transfer money to Brazil quickly, your best method is for the recipient to collect it from a cash pick-up location. Some of the top names such as MoneyGram, Ria, and Western Union have agent networks in this country.

Remitly also provides a service for sending cash to Brazil.

What is required for cash pick-up in Brazil

Your service provider will need the recipient's full name and contact details as well as the location of a desired cash pick-up center. Collecting the transferred money requires a valid form of ID such as a driver's license or passport along with a reference/transaction number.

Safety tips for picking up cash in Brazil

Brazil has high levels of crime, especially robberies. Pickpocketing is also fairly common. If you plan to collect money from a cash pick-up center, try to visit locations in malls or populated market areas. When collecting a large sum, consider taking someone with you. In addition, try to collect your money during daylight hours.

Do not resist if you are threatened, and hand over your valuables immediately, because crime in Brazil often involves firearms. Do not visit beaches after dark. Take particular care of your belongings during carnivals and other festive periods.

Shanty towns, referred to as favelas, are prone to high levels of crime. Reconsider visiting any favela, even as part of an organized tour, because violence in these areas has increased in recent times. Avoid driving through favelas as well.

In Rio de Janeiro, pickpocketing and thefts are common in and around Ipanema beach, Copacabana beach, Santa Teresa, and Lapa.
 

Mobile airtime top-up options

Topping up mobile airtime is another way to send money to Brazil. WorldRemit provides this service, as does Xoom. You may top-up credit for prepaid mobile numbers provided by most telecom service providers in Brazil such as Claro, Oi, TIM, and Vivo.
 

Regulations when transferring money to and from Brazil

The Banco Central do Brasil (the Central Bank of Brazil) is responsible for monitoring cross-border money transfers to and from Brazil. When transferring money to Brazil, you may send up to BRL 10,000 without concern for foreign exchange regulations. If you want to send more than this amount, you have to provide additional information and complete legally required paperwork.

Taxation rates for donations and gifts are different across the 26 states of Brazil. It is the responsibility of recipients to make relevant declarations in their annual tax returns. If a recipient does not pay tax on a large-value money transfer, the penalty imposed can be 20% to 75% of the unpaid tax. Increased fines are in place for repeat offenders and can include jail time from six months to two years.

Bank accounts in Brazil can only be maintained in Brazilian currency. If a Brazilian importer wants to send money from Brazil to USA, the only legal way to do it is by purchasing U.S. dollars in the form of an exchange contract through a bank that is authorized by the Banco Central do Brasil.