Tips On Sending Money To Brazil

If the recipient of the funds has an account with one of these banks

, it might be a good idea to open an account locally with the same bank, as money being sent between accounts within the same bank is often processed quickly and at little or no cost.

Bank transfers between two different banks are also relatively easy, although moving money from one bank to another can entail a waiting period of up to 5 business days with substantially higher costs.

Through banks, you can also initiate wire transfers to Brazil. A wire transfer gets the money to its destination quickly, but there needs to be a corresponding bank to receive the wire transfer. Fees can be very high for international wire transfers, but if the money needs to arrive quickly, this is a viable option.

Another way to send money to Brazil is through either an ATM card or a pre-paid debit card. In an emergency this may not be the best fastest method, since it takes time for the card to be sent to the person receiving the funds, but for people who send money regularly to family in Brazil, the pre-paid debit card or ATM card is a great option.

Sending a debit card with the MAESTRO or CIRRUS logo on the back will ensure that money can be withdrawn from a large network of ATMS in Brazil and around the world. If using an ATM card, you need to be confident that the cardholder is not accessing funds without authorization. A pre-paid debit card is the more secure way to send the exact amount of money intended for the recipient.

Online payment services are becoming a more popular way to send money to Brazil. The process moves the money quickly and the fees are relatively low, the recipient does not have to have a banking relationship in Brazil in order to access the funds. One benefit of sending money online with services such as prepaid debit cards is that the funds can be then easily be accessed from almost any ATM machine.

by: Peter Frampton

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