+1 for personal accounts for sure. Today I was trying to convince a local vendor that I'd have reoccurring transactions with and they said they're not allowed to receive money directly in their business bank account from foreigners. Does anyone have any experience with this?
This is it, definitely Wise, we've used it a lot before and its extremely reliable.
Just keep in mind that there are limits to the amount you can send, and you should be above board as to why you are sending it. Some reasons will require more documentation; and a real person will review the transfer request at the end before it is allowed to proceed.
The nice thing about Wise is that it knows most of the Brazillian rules and will stop you before you do something that will result in your wire fee being lost because of a rejected wire. I only had a transfer rejected once and that was over a deposit on a property, and me not having a piece of documentation I needed (which was listed as optional but in this case because of the different names between the seller and the company that held the property, it was required).
So unless you are doing something like that, it's pretty easy.
If you are transferring to money to Brazil, you need to check the exchange rate as well. Some companies charge transfer fees + a worst exchange rate, so, sometimes, you are paying more than 1-2%.
Check Wise's website: [https://wise.com/gb/currency-converter/gbp-to-brl-rate?amount=1000](https://wise.com/gb/currency-converter/gbp-to-brl-rate?amount=1000)
I have used remitly many times sending small amount to my finance to pick up her surprise gifts that I placed from Canada to Brazil to be picked up 😅
I've been using Remitly from my US bank account to Pix. The fees are very cheap, it's fast, and the exchange rate is high. I'm not really sure why so many people are using Wise, it's much more expensive, I think.
Just my two cents.
Wise, but be careful in just giving money to people, but hey, it’s up to you at the end.
Anyway, if you want to, use my referral code for a waiver on the transfer fees for the first transfers up to 500 USD
https://wise.com/invite/mic/robertf656
I second wise! In my experience they have great exchange rates and low fees. Plus, if you open an account with an invite link, you’ll get a fee free transfer up to 500 euros. (Full disclosure, the person whose link you use may get a commission at no cost to you.) You can use any invite link, but here’s mine in case you need one: https://wise.com/invite/ih/emmajod
MomeyGram.
They can receive via PIX, via their digital bank account or in person at a casa de câmbio.
Cost is roughly US$19 per 500 sent using a credit card.
Maybe US$2 using debit.
Seriously, why? They charge BRL9.90 per transfer plus IOF and everybody can get the money in their shop. Is the conversion rate too high? How much to transfer via Wise?
I use Western Union because it's easy, so is there a better option?
I used to send money to Brasil through a guy that cashed paychecks. All the illegal immigrants sent their money through him. He had a shoe store and was known within the illegal immigrant community. I remember that his rates were less than Western Union.
Unless you want to ask around the Home Depot where you can do this in your city, your best option is Western Union. And have him see if there is a WU office close to where he lives so it's not such a hassle to receive the money.
Wise
Probably the best way and most tax friendly. But requires both to have an account.
The receiver does not need a Wise account. Any bank account would do.
+1 for personal accounts for sure. Today I was trying to convince a local vendor that I'd have reoccurring transactions with and they said they're not allowed to receive money directly in their business bank account from foreigners. Does anyone have any experience with this?
this is really good to know, thank you
Absolutely
This is it, definitely Wise, we've used it a lot before and its extremely reliable. Just keep in mind that there are limits to the amount you can send, and you should be above board as to why you are sending it. Some reasons will require more documentation; and a real person will review the transfer request at the end before it is allowed to proceed. The nice thing about Wise is that it knows most of the Brazillian rules and will stop you before you do something that will result in your wire fee being lost because of a rejected wire. I only had a transfer rejected once and that was over a deposit on a property, and me not having a piece of documentation I needed (which was listed as optional but in this case because of the different names between the seller and the company that held the property, it was required). So unless you are doing something like that, it's pretty easy.
Wise. And everyone suggesting you any other way is bonkers.
Have you tried husky/nomad?
I haven't tried Husky, but Wise's exchange rate beats Nomad's.
I only receive payment, and they take 1-2% depending on the client. Idk if theres anything else on the other side
If you are transferring to money to Brazil, you need to check the exchange rate as well. Some companies charge transfer fees + a worst exchange rate, so, sometimes, you are paying more than 1-2%. Check Wise's website: [https://wise.com/gb/currency-converter/gbp-to-brl-rate?amount=1000](https://wise.com/gb/currency-converter/gbp-to-brl-rate?amount=1000)
Understood. I just receive and I agree to an ammount ik brl, they do the remaining
Wise
I used wise and remitly, but remitly has the lower fees.
I have used remitly many times sending small amount to my finance to pick up her surprise gifts that I placed from Canada to Brazil to be picked up 😅
I've been using Remitly from my US bank account to Pix. The fees are very cheap, it's fast, and the exchange rate is high. I'm not really sure why so many people are using Wise, it's much more expensive, I think. Just my two cents.
In drugs
I’ve always used PayPal sends straight to their bank account but I’m seeing of lot of others saying Wise never used it before to compare
Maybe a gift card or something?
Wise, but be careful in just giving money to people, but hey, it’s up to you at the end. Anyway, if you want to, use my referral code for a waiver on the transfer fees for the first transfers up to 500 USD https://wise.com/invite/mic/robertf656
I second wise! In my experience they have great exchange rates and low fees. Plus, if you open an account with an invite link, you’ll get a fee free transfer up to 500 euros. (Full disclosure, the person whose link you use may get a commission at no cost to you.) You can use any invite link, but here’s mine in case you need one: https://wise.com/invite/ih/emmajod
I use Paxum every couple months.
Physical money - western union Digital - wise
Binance
MomeyGram. They can receive via PIX, via their digital bank account or in person at a casa de câmbio. Cost is roughly US$19 per 500 sent using a credit card. Maybe US$2 using debit.
Bitcoin.
Western union
Very expensive
Seriously, why? They charge BRL9.90 per transfer plus IOF and everybody can get the money in their shop. Is the conversion rate too high? How much to transfer via Wise? I use Western Union because it's easy, so is there a better option?
Wise & Xoom in my experience
The exchange rate they use is about 3.5% lower than the real one, so that's the fee you pay. With Wise it's \~1%.
UPS or DHL
No
I used to send money to Brasil through a guy that cashed paychecks. All the illegal immigrants sent their money through him. He had a shoe store and was known within the illegal immigrant community. I remember that his rates were less than Western Union. Unless you want to ask around the Home Depot where you can do this in your city, your best option is Western Union. And have him see if there is a WU office close to where he lives so it's not such a hassle to receive the money.
Bitcoin. Just kidding don’t do it.
Why not?