How to Send Money to Someone in Brazil
Your essential guide to international money transfers to Brazil. Understand the full process from initiation to successful receipt of funds.
Sending money to Brazil involves specific local regulations. This article aims to clarify the process, guiding individuals through the different methods available. It covers the necessary information to gather, the steps for initiating a transfer, and what the recipient can expect upon the money’s arrival.
Understanding Available Transfer Methods
Traditional bank transfers, or wire transfers, move money directly from one bank account to another. These transfers use established banking networks, take a few business days to process, and require specific recipient bank details.
Online money transfer services, such as Wise, Remitly, Xoom, Western Union, and MoneyGram, allow transfers via websites or mobile apps. These platforms often offer competitive exchange rates and faster processing times than traditional banks. Funds are typically deposited directly into the recipient’s Brazilian bank account.
Cash pickup services allow recipients to collect physical cash at designated locations in Brazil. Providers like Western Union and MoneyGram have extensive agent networks for this. This method suits recipients without bank accounts or those needing immediate cash. Many online platforms also offer direct bank deposits alongside cash pickup.
Gathering Necessary Information and Documents
Senders must provide their full legal name, current address, and contact information. A valid government-issued identification, such as a driver’s license or passport, is necessary for regulatory compliance. For larger amounts, senders may also need to specify the source of funds as part of anti-money laundering protocols.
Recipients in Brazil need to provide their full legal name, matching their bank account or identification. Their complete address, including the Brazilian postal code (CEP), is also required. The recipient’s Brazilian Taxpayer ID (CPF for individuals or CNPJ for businesses) is mandatory for processing international money transfers.
For direct bank deposits, the recipient’s bank details are necessary. This includes the bank’s full name, bank code, branch number, and account number. For wire transfers, the SWIFT/BIC code is also required to identify the bank and branch. Providing the recipient’s phone number and email is advisable for notifications or additional verification.
Executing the Money Transfer
To execute a money transfer, select a service, either a traditional bank or an online platform. For online services, create an account by providing personal details and verifying identity. After logging in, initiate a new transfer by specifying Brazil as the destination and entering the amount.
The platform will prompt for the recipient’s details, including their full name, address, CPF or CNPJ, and bank account information. For bank transfers, the SWIFT/BIC code is also required. Before finalizing, the service displays the exchange rate and any associated transfer fees. Senders should review these figures to understand the total transaction cost.
Choose a funding method, such as a bank account, debit card, or credit card. Debit card payments are often quicker and less expensive than credit card payments, which may incur additional fees. After confirming details and authorizing payment, the transaction is submitted. The sender receives a confirmation with a unique tracking number, like an MTCN, to monitor the transfer’s progress.
Recipient’s Experience in Brazil
The recipient’s experience in Brazil varies by delivery method. Funds sent directly to a bank account are electronically deposited. For cash pickup, the recipient receives a notification and collects funds in person at a designated agent location by presenting valid identification.
The time for funds to become available in Brazil ranges from minutes for some online services to several business days for traditional bank transfers. Bank transfers commonly take one to five business days. Brazilian or international holidays can extend these processing times. Prompt and accurate submission of recipient information helps avoid delays.
Recipients of international transfers in Brazil may be subject to certain local requirements and taxes. The Imposto sobre Operações Financeiras (IOF), a Brazilian federal tax on financial transactions, is levied on foreign exchange operations, including the receipt of funds from abroad. As of May 2025, the IOF rate for receiving money from abroad to Brazil is 0.38%. This tax is usually deducted by the financial institution processing the exchange, and its rates can change. For certain large amounts or first-time transfers, the recipient may be required to verify their identity or provide additional documentation to the local bank or financial institution, such as proof of the transfer’s purpose, to comply with Brazilian regulations.