Send Money to Brazil From Another Country

If you are planning to send or receive funds through a money transfer but are not in your home country, be prepared for some road blocks when you do not have a bank account in the country you are in.

Don’t worry though, there are systems that let you wire money to the other person through a location based service which requires recipients to give a code in order to collect the money.This system has been tightened since the attacks on September 11th as this was the easiest way for terrorists to send money around the globe. Now, usually both the sender and recipient must present some form of I.D. to take advantage of this form.

Brazilian immigrants based in the U.S. consistently send money an average of just one time per month. Experts estimate Brazilians send an estimated 400 U.S. dollars a month.

The U.S. isn’t the only major nation transferring into Brazil, however. Brazil also receives remittance from Japan at an average of once monthly. Japan however, averages the equivalent of 600 U.S. dollars a month, making it one of the highest contributing nations.

So how exactly does the process work? Some use a bank’s wire service, which requires both people to have an account with the bank. This doesn’t always work out considering the sender may not be able to open an account because of their immigration status, or the receiver may not be in a state where they can open up an account in Brazil – a huge reason why people leave the country for other countries like the U.S. or Japan.

People also turn to courier services or traditional mailboxes. But not only do options like these take anywhere from days to weeks before the money arrives, there is also the question of how reliable the system really is. Oftentimes, money wired through systems such as these never even makes it there.

Those needing to send money to Brazil may do so using one of the numerous offline services. Be cautious though, the exchange rate converts one U.S. dollar into two Brazilian Reais not to mention an additional 10% fee – give or take a few percentage points. After all is said and done you’ll be left with less than if you were to just transfer the money within the United States.

Yet another option is to wire cash through a pre-paid ATM or debit card. The sender simply purchases a card and sends it through FedEx, a well-known courier service.

The card costs about $5 and you may to send up to $1000. You can also trust that the funds will arrive safely and your recipient will not be forced to check the mail every day or even have to go to one of the location-based companies just the get the money. The even greater perk of this form is that to add money the sender simply jumps on the phone or the web to add money to the card in just minutes. It’s no wonder so many more people are turning to this option – it is by far one of the fastest, most convenient ways to transfer. This way seems to be much safer than traditional methods that have survived for decades.