There are a number of methods to transfer money to Brazil, but which one you eventually opt for will depend largely on your circumstances.
An individual who needs to transfer money to family in Brazil as a one-off might not end up using the same method as somebody who needs to transfer a pension to Brazil on a monthly basis.
Whatever your personal situation, you have three main options to transfer money to Brazil.
Firstly, you can use a bank. If you need to transfer money to the Banco do Brasil, or the Banco Real, for example, this could be a convenient way of going about things.
Your local high street bank in your country of residence should be able to set up a transfer for you with just one phone call or visit.
However, you should expect pay a per-transfer fee each time you move money to Brazil.
If you are transferring your pension or to cover payments on a property, then these fees will soon add-up and eat into your funds.
Alternatively, you can enquire with a Money Sending Bureau. These are small establishments found on high streets around the world, but they tend to be poorly regulated and can charge per-transfer fees of between ten and 15 per cent.
Your third main option is to transfer money to Brazil with a foreign exchange broker, like RationalFX.
Companies like this tend to offer very competitive currency exchange rates to consumers due to the sheer volume of currency they transfer every day.
In addition to this, RationalFX can assure you of a low fee service, significantly reducing your outgoings when you transfer money to Brazil.
If you would like to know more and take a look at the actual foreign exchange rates on offer on the Brazilian real, then why not open an online account with us?
This is free, quick and easy and will let you compare our rates with your other options without making a commitment to one or the other.