Whether you’re sending money from Brazil to the United States for personal, or business reasons, making sure you get the most bang for your buck is essential. While transferring your money abroad can sometimes be complex, we’re here to help with this quick guide on everything you need to know about sending BRL overseas, from cost savings and money transfer services all the way to speed of delivery.
Using a Wire Transfer to Send Money From Brazil to the United States
Because Brazilian Reais are a restricted currency, requirements are arduous, transfers are typically slow, exchange rates and transfer fees are often very high, and guaranteeing a specific delivery date can be difficult. However, Moneycorp’s global presence and new direct access to Brazil ensure you a simpler and more cost-effective process for your BRL exchanges.
With access to a network of 18 international banks, this new license allows us to exchange BRL quickly and easily without restrictions, ensuring both full visibility and streamlined transactions from start to finish.
Do I Need a Routing Number for International Wire Transfers?
While the majority of countries around the globe rely on IBANs to receive bank payments from overseas, the United States uses Routing Numbers, a nine-digit code used to identify the location of the bank and respective account. Routing Numbers are also commonly referred to as a Bank Routing Number or Routing Transit Number (RTN). Different regions throughout the United States hold different Routing Numbers so being able to provide the correct code when making a wire transfer is imperative for the payment to process successfully, without delay.
When you are sending international payments to the United States, you may also need to provide your recipient’s bank BIC/SWIFT code. You can find out more about these codes here.
How Much Does It Cost to Send Money From Brazil to the United States?
Before you embark on any transfer, understanding the various exchange rates and transfer fees required to process your transaction should be top of mind. With exchange rates fluctuating constantly, gaps between rate offerings have increased exponentially. That’s why finding an international payments provider that operates with a low exchange margin is paramount. Interbank, or mid-market rates, are a great way for consumers to better understand how much a currency is worth as they show the mid-point between what banks are willing to pay for a currency and what they’re willing to sell it for.
Whether it is a flat rate or a percentage of the amount you plan to exchange, transfer fees can sometimes be much higher than you expect, especially if you don’t check the required fees before you start the process. That being said, when you send money online with a Moneycorp international payments account, your funds arrive safely and securely – with zero transfer fees.
How Long Does It Take To Send Money From Brazil to the United States?
When shopping around for the best way to transfer your money internationally, paying attention to transfer speeds is critical. The types of currencies you’re looking to trade, and the delivery method you choose to use can change your expected speed of delivery by a lot. In most cases, using an online international payments provider is the quickest way to send your money abroad.
At Moneycorp, if you’re sending common currencies like EUR, GBP, USD, and CAD, you can typically expect your funds to be received within 24 hours of them being sent. Even if you’re sending other, less common currencies, you can usually expect your payment to be sent out the following day after booking, meaning it only takes around 1-2 working days for the funds to arrive.
Send Money to and From Brazil in 3 Easy Steps
Changing requirements and updated regulations can make transferring your money a headache. If you’re looking for an inexpensive, and efficient way to send your money to and from Brazil, working with an experienced international payment provider is often the way to go.
At Moneycorp, sending and exchanging your money globally is easy with our quick 3 step process:
- Sign up for a Moneycorp online account. Signing up for an account is quick, easy, and free!
- Note which currency you need. Once you add funds and recipient information to your account, you can make payments to 190 countries in over 120 different currencies.
- Leave the rest to Moneycorp! We’ll exchange and deliver your funds, safely and securely