Transfer Money Now
Main Services: International money transfers, remittance services, mobile transfers
Transfer Objective: One time/ Recurrent
Transfer Method: Direct to Bank, Cash pick-up, Mobile top-up
Min Transfer Amount: $15
- Great on mobile transfers
- Easy to send or receive money
- Good for remittance services
Main Services: International money transfers, cash pickup, remittance services, mobile transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up
Min Transfer Amount: £0.01
- Locked-in exchange rates
- 145+ years of experience in moving money
- Tracking options for transfers online
- 0-3 days of delivery (depends on destination)
Up to 24h
Main Services: Send money online, bank transfers, telephone transfers. Send money to family and friends, emigrate, buy a property overseas or make regular maintenance payments.
Transfer Objective: one off/regular transfers
Transfer Method: Electronic bank transfer, UK debit card, UK direct debit
Min Transfer Amount: £100
- Free transfer fees
- Free to open an account
- Transfers by phone, online or App
- Safeguarded customer funds
- Longstanding FX provider since 1979
Up to 24h
More than 48h
Up to 24h
More than 48h
One of the first things that you need to do when considering an international money transfer is to make a research of the providers, including exchange rates, speed of transfer, and credibility of the companies which you are considering.
See here for more information on how to compare.
The limit per one transfer may vary depending on the conditions of the provider that you are using. For example, the maximum amount per transaction through Western Union is USD $5,000, while many others have no maximum limit. However, many if not all of the agents have a minimum limit for a transaction and it could vary from 1$ to 1000$. Local country laws may further limit payment amounts. International money transfers in Brazil are monitored by the Banco Central do Brasil. Due to Brazilian regulations, if your transfer amount exceeds the equivalent of 10,000USD (per transfer) in BRL, or 50,000BRL per month or 100,000BRL per year you may be contacted for extra information.
If you’re sending a transfer to BRL which is above one of the below limits (set by the Brazilian Government), your recipient in Brazil will be asked to complete two forms – a ‘Procuração’ (power of attorney) and a ‘Ficha Cadastral’ (registration form). If your transferring the funds to yourself, you should complete the forms as a recipient.
Please ensure that your recipient’s phone number is located in Brazil and is 100% correct and working, this is a must when transfering funds to Brazil.
According to the regulation, Brazilian banks must observe the following limits:
If the amount does not exceed R$ 10,000.00, you can receive in
cash or in any payment instrument in use in financial market. Above this
amount, only by credit in an account, bank transfer or check.
Transfers to Brazil can only be personal transfers. Both the sender and recipient must be a privately owned account of an individual. The money for a BRL transfer cannot come from a business account, trust fund, or any type of third party account and it can not be sent to a business in Brazil.
Depending on the type of remittance and the provider you are using, the transfer could be available to your recipient in Brazil anywhere between few minutes and few days. Please check the specific conditions fitting your case.
To receive in reals currency, it is always necessary to beneficiary
present his identification. In general, banks only request additional
documentation in following situations: a) transactions over R$ 10,000.00
in case of payment orders in reais or b) transactions exceeding equivalent
of US$ 3,000.00 in case of payment orders in foreign currency.
Most of the financial institutions have online tools on their website that allow you to track the money transfer. If you have carried out the money transfer to Brazil via a bank, you can track your transaction by entering information like the tracking number and beneficiary’s account no. on the bank’s website.
When you send money via services like Xoom, Western Union, or Ria, you can always track your transfer by logging into your account on their website. The status tracking tools on the websites of these services keep the customers updated about the change in status. The recipient in Brazil can also check the status of the transfer online. The check transfers and bank draft transfers can also be tracked online. Some of these institutions even provide updates via email and SMS where the sender and the receiver can keep a check on the status. A few companies like TransferWise and Xoom have mobile apps that enable customers to check the status of transfer on their mobile devices.
For the most cases, the answer is no. However, your recipient could be on the hook for a gift tax as regulated by the local laws. Please check your specific case with the chosen provider.
When sending a lot of money, your recipient could be on the hook for taxes regulated by the Brazilian Department of Federal Revenue.
Gift and donation taxation rates vary among the 26 states of Brazil, ranging from 4% in Rio de Janeiro to up to 7% in Santa Catarina. Beneficiaries of these gifts are responsible for declaring and paying this tax with their annual returns by April 30. If you fail to file taxes on a large money transfer today, you could face a penalty equal to 20% of the tax in question. If you’re caught in one of the country’s irregular sweeps for unpaid taxes, that penalty increases to a stiff 75% of the amount you owe. Encourage your family and loved ones to include any large remittance on their annual tax return or speak to a tax professional for guidance.
Apart from the possible tax for the recipient, in 2017, US Congress submitted a bill proposing a 2% tax on remittances to Latin American countries that include Brazil,r — a tax for the senders from US,that’s a significant key to fulfilling the Trump administration’s campaign promise to build a border wall between the US and Mexico. Make sure to check the most updated information!
When you’re sending money overseas, in many cases you’ll need to convert the funds you send into another currency. But the provider or agent will convert the currency anyway, so you don’t have to deal with it yourself. Generally, Agent locations only accept cash in local currency. The receiver in Brazil will be paid out in Brazilian Reals only (BRL).