Information on How to Remit Money to Brazil

There are several ways to transfer money from the US to Brazil. One of the easiest ways to do this is to establish a relationship with a US bank that is well represented in Brazil, such as Bank of America, Wells Fargo or Citibank.

If the beneficiary of the funds has an account with one of these banks, it is a great idea to open an account locally as well with the same bank, seeing as how account transfers within the same bank are repeatedly processed at a faster rate and with little or no extra cost. Bank transfers between two different banks are also relatively easy; however, transferring money from one bank to another can involve a waiting period of up to 5 business days with signifigantly higher processing costs.

Costs can be extremely high for global wire transfers. If, though, the money needs to arrive rapidly, this is the best viable option.

Other than the bank transfer, another way to send money to Brazil is through the pre-paid debit card. In an emergency this may not be the best means, since it takes some time for the card to physically be sent to the person in need of funds; but for those who possibly frequently send funds to family in Brazil, the pre-paid debit card is a good alternative.

Upon activation, sending a debit card with the PLUS or CIRRUS logo on the back will certify that funds can be withdrawn from a immense and far-reaching network of ATMS located throughout Brazil and all over the world. If choosing to use an ATM card, you need to be sure that the cardholder is not accessing funds without prior agreement, for these are not pre-paid and hold no exact limit.

A pre-paid debit card is loaded with a determined amount and cannot be overdrawn, making it a very safe option. If more money is needed at a later date, the card can be reloaded as many times as needed.

In addition to these methods, online payment services are becoming the most well-liked way to send money overseas. This method moves the money quickly and the fees are quite low, however, the reciever must have a banking history in Brazil in order to access the money.

One advantage of sending funds this way is that the money can be used to acquire goods and services electronically without ever needing to convert the sent money into actual cash. On the other hand, if the reciever does wish to turn these electronic funds into cash, it is more challenging than with other proven methods, due to processing procedures.

With whichever method you choose, fund transfer between the US and Brazil is now an easy process. Be it via bank transfer, pre-paid debit card or online transfer, money can be transferred quicker than ever.