Find the best way to send money from Brazil

Every real you send abroad from Brazil starts with a tax that nobody can avoid. Since mid 2025, IOF on money sent out of the country is 3.5 percent, whichever bank or app you use. What changes from one provider to the next is everything on top of it, and that part ranges from well under 1 percent to more than 5 percent.

Sending money from Brazil is a regular job for a lot of people: migrants supporting family at home, parents paying for a child's studies, Brazilians moving savings ahead of a move, and freelancers paying for work done elsewhere. Most of them do it through the bank where they already have an account, and most never check what the exchange rate cost them.

Before you use your bank, know one number: the VET, or Valor Efetivo Total. Every institution authorised by the Banco Central must show it before you confirm, and it rolls the exchange rate, the fees and the IOF into a single price per unit of foreign currency. It is the only fair way to compare one money transfer from Brazil with another, and this guide uses it throughout.

Who Sends Money From Brazil

Brazil sends far less money abroad than it receives, but the outflow is still large. The World Bank puts personal remittances paid from Brazil at about US$1.9 billion in 2025, against about US$4.8 billion arriving. The senders fall into a few clear groups, and each one needs something different from a transfer.

Some send small amounts every month and care most about a low fixed fee and a payout the family can collect. Others move one large sum a year, where a fraction of a percent in the exchange rate is worth more than any fee. Knowing which group you belong to tells you which provider to compare first.

Migrants sending money home

Brazil has become home to large migrant communities from Venezuela, Haiti, Bolivia, Paraguay and other parts of Latin America and Africa. Most of them send part of their wages home in regular transfers of a few hundred reais. The recipient often has no bank account, so cash pickup and mobile wallets matter as much as the price.

For this group the published fee is only half the story. Some currencies in the region are thinly traded, and the gap between a cheap and an expensive provider is often several percent, which on a monthly transfer adds up quickly. It is also the group most likely to use a cash agent, which tends to be the most expensive way to send.

Families paying for study abroad

Brazilian students abroad, in North America, Europe and Australia above all, are paid for from home. Tuition and rent arrive as large, scheduled payments in dollars, euros, pounds or Australian and Canadian dollars, often several times a year.

These are the transfers where a bank's spread hurts most, because a 3 percent margin on a semester's fees can cost more than a month's rent. Payments to universities usually need a reference number and must arrive in full, so a provider that shows the exact amount received is worth more than one that is slightly cheaper but leaves room for deductions on the way.

People moving savings or buying property abroad

A growing number of Brazilians are building a life elsewhere, through residence visas, property purchases and retirement. They move savings out in a few large transfers. Here the exchange rate does almost all the damage, and the tax treatment matters too: the IOF on transfers for investment abroad is lower than on ordinary remittances, so how the operation is classified is worth getting right.

Large transfers also trigger more paperwork. Expect to show your income tax return or other proof of where the money came from, and leave time for it rather than finding out the week a payment is due.

Freelancers and small businesses paying abroad

Freelancers and small companies pay for software, services and suppliers abroad. Many of these payments are small and frequent, which makes fixed fees and card surcharges the main cost. A business paying a foreign supplier also has its own rules on documentation and, in some cases, income tax withheld at source, so it is worth checking with the bank or broker before the first payment.

What Brazilian Banks Charge to Send Money Abroad

Brazilian banks charge between about 0.7 percent and more than 5 percent above the reference exchange rate to send money abroad, on top of the 3.5 percent IOF. That is the range across the big five in the Banco Central's own monthly ranking. Itaú sat closest to the specialists, Bradesco and Caixa furthest away.

The figures below come from the VET ranking the Banco Central publishes every month. It shows the average total cost of real remittances at each institution, so it captures the spread hidden in the rate as well as any fee. We compared each bank's average VET with the Banco Central's PTAX reference rate plus IOF, which leaves only what the bank itself kept.

Average cost above the PTAX rate plus 3.5% IOF on remittances of about US$1,000 to US$3,000 (or the euro and pound equivalent), from the Banco Central do Brasil VET ranking for September 2026. Ranges cover both transfer sizes.

Two things stand out. The first is how wide the range is: on the same dollar transfer, the dearest bank in the table kept several times what the cheapest one did. The second is that a zero fee means very little. Itaú and Santander both advertise zero-fee remittances in their apps, yet one priced close to the specialists and the other kept around 3 percent in the rate.

The table is also a reminder that your own bank is not automatically the right choice. The ranking is public, it is updated monthly, and it takes a minute to check where your bank sits before a large transfer.

Itaú

Itaú was the cheapest of the big banks in the ranking, at under 1 percent above the reference rate on dollars, euros and pounds. It charges no fee for remittances booked online and makes its money in the rate, which it shows as the quote of the moment plus a percentage. Standard transfers take up to two working days.

It also offers instant transfers in a few currencies, which arrive in about ten minutes at any hour. The catch is that they only go to an account in your own name, so they suit people moving money to themselves rather than paying someone else.

Banco do Brasil

Banco do Brasil handled more of the ranked dollar and euro remittances than any other bank and landed in the middle, at roughly 1.6 to 2 percent above the reference rate. You can send from the app, and the fee and VET are shown before you confirm.

For a customer who already banks there, it is a reasonable option on the major currencies. It is still about twice the cost of the cheapest options, and on a large transfer that difference is worth a quick comparison.

Santander, Bradesco and Caixa

Santander Brasil advertises remittances with zero fee in its app, but its average cost was around 3.2 to 3.7 percent above the reference rate, all of it in the exchange rate. Delivery for most currencies takes around two working days.

Bradesco's tariff table for personal customers lists R$ 450 for issuing a remittance order, and its average cost ranged from about 2.4 to more than 5 percent. Caixa was the dearest bank in the ranking on dollars, at up to around 8 percent on the smaller transfer size. For anyone sending regularly, these are the banks where switching saves the most.

The spread the banks do not show you

Every bank quotes you a rate, but none of them labels the gap between that rate and the reference rate as a fee. That gap is where most of the cost of a bank remittance sits. A spread of 3 percent on R$ 10,000 is R$ 300, before any fee and before the IOF, and it is easy to miss because the app only shows the rate you get.

The VET is the defence. Because it includes the rate, the fees and the tax, two quotes with the same VET cost the same, whatever each one calls its fee. Our guide to the mid-market exchange rate explains how to work out the margin from any quote.

Extra charges on the way and at the other end

A bank transfer abroad usually travels over SWIFT, and an intermediary bank can take its own cut on the way. Most Brazilian banks let you choose who pays these charges: you, the recipient, or both. If the recipient has to receive an exact amount, such as a tuition bill, pay them yourself or the payment will arrive short. Our guide to international wire transfer fees explains how these charges work.

Cards are not a cheaper workaround. Spending or withdrawing abroad on a Brazilian card carries the same 3.5 percent IOF plus the card's own conversion margin, and accepting a charge in reais at a foreign terminal adds the merchant's exchange rate on top. Western Union's agent network is the other common route, with a published fee table and its own margin in the rate.

The Best Ways to Send Money From Brazil

The best way to send money from Brazil is a licensed online specialist paid by Pix. Wise and Remitly both send from Brazil through their own Banco Central licensed brokers. Wise is usually cheapest to dollars, euros and pounds, and Remitly is usually cheapest to the neighbouring countries and the Caribbean, especially for cash pickup and mobile wallets.

Both show the IOF as a separate line, so what you compare is their own fee and exchange rate. Xe, the third provider we cover, does not send from Brazil: it only registers senders who live in Europe, North America, Australia and New Zealand. We checked each provider's own site on 4 November 2026.

Wise

Wise sends from reais through Wise Brasil Corretora de Câmbio, a foreign exchange broker authorised by the Banco Central. You pay by Pix or bank transfer from an account in your own name, and Wise converts at the mid-market rate with its fee shown separately from the IOF. On dollars, euros, pounds and Australian or Canadian dollars, that fee ran at about 0.7 percent on a mid-sized transfer and around 1 percent on a small one.

Speed is a strength on the major currencies. Euros and pounds often arrive within seconds, and dollars the same day. On thinly traded currencies in South America and the Caribbean, Wise's fee climbs sharply and delivery can take several working days, so it is not the default for every route. Our Wise review covers its fees, limits and safety in more detail.

Remitly

Remitly sends from Brazil through Remitly Corretora de Câmbio, its Brazilian foreign exchange broker, and you pay by Pix. It is built for sending money to family: bank deposits, cash pickup, mobile wallets and card payouts, depending on the country. Remitly usually waives the fee on a new customer's first transfer, and the maximum per transfer from Brazil is R$ 50,000, subject to verification.

Its prices vary more by route than Wise's. To the neighbouring countries and the Caribbean, Remitly was far cheaper than Wise, often at around 0.5 to 2.5 percent all in, with cash pickup and mobile wallet options Wise does not offer there. To pounds and Canadian dollars its margin was nearer 3 percent, and on euros and dollars the two were close. See our Remitly review for how its delivery promise and limits work.

Which option for which transfer

No single provider wins every transfer from Brazil. The right one depends on the currency, how the money needs to arrive and how much you are sending. This is how the options line up on the transfers people make most often.

Digital banks also sell dollar and euro accounts with international transfers built in. Banco Inter appeared in the Banco Central's ranking at about 1.2 to 1.3 percent above the reference rate, between Itaú and Banco do Brasil. Compare any of them on the VET, the same way you would compare a bank.

To see how the two specialists differ in more detail, read our comparison of Remitly and Wise. On the routes where both are strong, the cheaper one changes from week to week, so a quick check on the day is worth it.

How Much Does It Cost to Send Money From Brazil?

Sending money from Brazil costs the 3.5 percent IOF plus the provider's own price, which runs from under 1 percent with a specialist to 5 percent or more at the dearest banks. On a typical transfer to a major currency, the total ends up around 4.2 to 4.7 percent with a specialist and from 6.5 to more than 9 percent at the dearer banks.

The table shows what each option keeps of a R$ 5,000 transfer across the main currencies, with the IOF left out because everyone charges it. Bank figures are their average in the Banco Central's ranking; specialist figures are live quotes.

Cost on R$ 5,000 excluding IOF. Wise and Remitly from live quotes on 4 November 2026 at standard fees (Remitly waives the fee on a first transfer). Banks from their September 2026 average in the Banco Central VET ranking at the US$1,000 size.

On the regional routes the picture flips. Wise's fee on Paraguayan guaraní, Bolivian bolivianos and Haitian gourdes ran at roughly 6 to 9 percent of a R$ 5,000 transfer, while Remitly kept around 0.3 to 2.3 percent. Banks rarely offer these currencies at all, and when they do, they route them through dollars first.

A typical transfer across the main routes

On R$ 1,000, fixed fees weigh more. Wise kept around 0.8 to 1.2 percent to dollars, euros, pounds and Australian dollars, and 2 to 3 percent to Colombian pesos and Chinese yuan. Remitly ranged from under 1 percent to euros and bolivianos to around 3 to 3.5 percent to pounds and Canadian dollars. Add 3.5 percent IOF to every one of those.

At a bank, the same R$ 1,000 can cost more again. Bradesco's R$ 450 remittance order fee in its tariff table would swallow nearly half of a transfer that small if you paid it at the branch, which is why small transfers belong in an app.

A large transfer, where the margin does the damage

On a large sum the fee hardly matters and the margin is everything. On R$ 50,000 to a major currency, a specialist at about 0.7 percent keeps around R$ 350, while a bank at 3 to 5 percent keeps R$ 1,500 to R$ 2,500. The IOF of R$ 1,750 is the same either way.

Large transfers are also where Itaú's instant service to your own account competes well, and where the rules on proof of funds come into play. Our guide to transferring large sums internationally covers how to plan one.

What the gap adds up to over a year

Take a regular monthly transfer of R$ 1,000 to family. A specialist costs roughly R$ 100 to R$ 300 a year on most routes. A dearer bank costs R$ 400 to almost R$ 1,000 a year on the same transfers. The IOF adds R$ 420 a year whatever you choose, which is all the more reason not to pay a spread on top of it.

How Long Does a Money Transfer From Brazil Take?

A money transfer from Brazil takes anywhere from a few seconds to several working days. Specialists paid by Pix deliver euros and pounds in seconds and dollars the same day, while a standard bank remittance takes one to two working days. Some regional currencies take up to four working days with Wise.

The times below come from the providers' own delivery estimates and the banks' published execution times. Treat them as typical, not guaranteed, because checks and holidays can add time on any route.

Funding matters too. A transfer paid by Pix starts at once, while a bank transfer to the provider can wait for the next working day if you send it late in the afternoon.

How long each option takes

The specialists are fastest because they hold money in the destination country and pay out locally, so a transfer does not hop between banks. That is why Wise can deliver euros in seconds: once your Pix lands, it pays the recipient from its own European account.

Banks are slower because a foreign exchange contract has to be booked and settled on a working day, and the payment then travels over SWIFT. Itaú says its standard remittances arrive within two working days, and Santander quotes an average of around 48 working hours for most currencies. Our guide to how long a money transfer takes explains each step in more detail.

What slows a transfer down

The foreign exchange market in Brazil runs on working days, so a transfer booked on a Friday evening, at the weekend or over Carnaval and other national holidays waits for the next business day. The recipient's country has its own holidays too. Booking on a weekday morning avoids most of this.

The other common delays are checks. A first transfer waits for identity verification, and a large one can be held until you show where the money came from. A name or CPF that does not match the paying account, or wrong recipient details, will stop a payment until it is fixed. Upload documents when you open the account rather than on the day a payment is due.

How to Send Money From Brazil, Step by Step

To send money from Brazil you need a CPF in good standing, an account in your own name to pay from, an ID document and the recipient's bank details. With an online specialist the whole process takes a few minutes the first time and under a minute after that, and you pay by Pix.

The steps differ a little by method, and so does the paperwork when the amount is large. Here is how each route works in practice.

What you need before you start

Every licensed provider in Brazil will ask for your CPF, a photo ID and proof of address. Foreign residents use their RNM card, the identity card for registered migrants, alongside their passport. The account you pay from must be in your own name, because providers reject payments from third parties.

For larger amounts, have your most recent income tax return ready, or other proof of the source of funds such as a property sale or a salary statement. You will also be asked the purpose of the transfer, which decides how the operation is classified and, in some cases, the IOF rate.

With an online specialist

Open an account with Wise or Remitly in the app, verify your identity and add the recipient. Enter the amount, choose how the money should arrive and check the quote: the rate, the fee, the IOF and the VET are all shown before you commit.

Then pay by Pix from your own account. The transfer starts as soon as the payment lands, and both providers send updates until the money arrives. Keep the reference number in case the receiving bank asks for it.

From your own bank account

Most Brazilian banks let you send a remittance from the app or internet banking. You choose the currency, enter the recipient's details, including the SWIFT or BIC code and the IBAN or account number, and select the purpose of the payment. The bank shows the VET before you confirm.

Choose who pays the intermediary charges, and compare the VET with a specialist before you accept. Some remittances, especially large or unusual ones, still need a call or a visit to the branch, where the published tariffs apply.

With cash

Western Union agents and authorised exchange houses accept cash for transfers abroad. The fees are published and tiered: Western Union's table shows R$ 74 for sending between R$ 800 and R$ 1,000 for cash pickup in North America and Europe, with the exchange margin on top.

Cash is convenient for someone without a bank account, but it is usually the dearest way to send. Paying an agent by Pix, or using an app with cash pickup at the other end, normally costs less for the same result.

Whichever route you take, check the amount the recipient will get rather than the fee, because that is the number that includes everything.

Limits, Tax and Reporting When You Send Money From Brazil

There is no legal cap on how much an individual can send from Brazil, but every transfer pays IOF, providers set their own limits, and large sums need proof of where the money came from. The IOF is 3.5 percent on remittances and transfers to your own account abroad, and 1.1 percent on transfers for investment.

Each of these rules is checked at a different point: the limit when you book, the IOF when the exchange is contracted, and the reporting long after the money has left. Plan for all three on any large transfer.

How much you can send

Brazil's foreign exchange law lets individuals send money abroad for any lawful purpose, through an authorised institution. The practical limits come from the providers. Remitly allows up to R$ 50,000 per transfer from Brazil, depending on your verification. Wise sets limits per transfer and asks for proof of income and assets once you pass certain annual totals.

Banks handle large sums but ask for documents. Itaú's instant transfers to your own account go up to the equivalent of US$50,000. Above the providers' thresholds, expect to show your income tax return or another document that explains the money.

IOF on money sent abroad

IOF is charged on the exchange itself. Since 2025 the rate is 3.5 percent on transfers to other people, transfers to your own account abroad, international card spending and buying foreign cash. Transfers for investment abroad pay 1.1 percent. The higher rates were set by decree in mid 2025, and a Supreme Court ruling in July 2025 kept them in force.

Because the rate depends on the purpose, declare it honestly. Classifying an ordinary transfer as an investment to pay less is a tax offence, and providers can ask you to prove the purpose you declared.

Reporting and income tax

Sending your own money abroad is not income, so there is no income tax on the transfer itself. What you hold abroad is a different matter. Brazilian tax residents must list foreign accounts and assets in their annual income tax return, and since 2024 income from financial investments abroad is taxed at 15 percent a year under Law 14,754.

If your assets abroad reach US$1 million or more at the end of the year, you must also file the Declaração de Capitais Brasileiros no Exterior with the Banco Central. Cash is reported separately: carrying more than US$10,000, or the equivalent, out of the country must be declared to the Receita Federal before you travel.

Is It Safe to Send Money From Brazil?

Sending money from Brazil is safe when you use an institution authorised by the Banco Central, and both Wise and Remitly send through licensed Brazilian brokers. The bigger risk is fraud: scams that persuade you to send money abroad by Pix are common, and a completed transfer is very hard to recover.

Checking a provider takes a minute, and so does spotting most scams. Both checks are worth doing before the first transfer to a new recipient.

Who regulates money transfers in Brazil

Every foreign exchange operation in Brazil must go through an institution authorised by the Banco Central: a bank, a foreign exchange broker or one of their registered agents. You can look any of them up on the Banco Central's register before you pay. Wise operates through Wise Brasil Corretora de Câmbio, and Remitly through Remitly Corretora de Câmbio, both authorised foreign exchange brokers.

Authorised institutions have to show the VET, keep records of every operation and give you a route to complain: first to the company's ombudsman, then to the Banco Central. For more on what makes a provider trustworthy, read our guide to the safest way to send money internationally.

Scams that target senders in Brazil

The most common scams arrive by WhatsApp: a message from a supposed relative with a new number asking for money, an investment that pays in dollars, or a romance contact who suddenly needs help abroad. Fake remittance websites copy the look of real brands and ask for a Pix to an account that is not the provider's.

The rule is simple: only send money abroad to people you know, through an app you downloaded yourself, and only pay the provider's own account in its own app. If someone asks you to hurry, stop and call them on a number you already had.

The Routes People Send on Most From Brazil

Most money sent from Brazil goes to a handful of places: the United States and Portugal for study, family and property, and the neighbouring countries and the Caribbean for remittances to family. Each route has its own best option, because what the recipient needs is so different.

The notes below cover what is specific to each route. The corridor pages compare every provider on that route in detail.

The United States

Dollars go mostly to students, family and Brazilians buying or renting property. Payments land in US bank accounts over the domestic ACH or wire networks, which need a routing number and an account number rather than an IBAN. Wise and Remitly were close on dollars, and Itaú's instant service suits money sent to your own US account.

For university fees, pay the institution's own account and quote the student's reference. See our page on sending money from Brazil to the US for every option on the route.

Portugal and the euro countries

Portugal draws Brazilians moving abroad, buying homes and retiring, and the rest of the euro area adds students and family. Euros arrive through SEPA, often within seconds with a specialist, and the recipient needs an IBAN. On large transfers for a property purchase, ask the notary or lawyer exactly which account and reference to use before you send.

Remitly can also pay euros to a card, which suits family who prefer that. Compare both on the day, then read our page on sending money from Brazil to Portugal.

Paraguay and Bolivia

Transfers to the neighbouring countries are mostly remittances from migrants living in Brazil, often to family who collect cash or use a mobile wallet. This is where Remitly was far cheaper than Wise, and where Western Union's agents are the main cash alternative. Bank accounts work too, but many recipients prefer cash.

Our pages on sending money from Brazil to Paraguay and Bolivia compare the payout options on each.

Haiti

Brazil has a large Haitian community, and much of what it sends home is collected as cash or received on a phone. Fees on small transfers matter most here, and so does the exchange rate on the gourde. Remitly kept far less than Wise on the route, and its mobile wallet option is usually cheaper than cash pickup.

Western Union's published table also has a separate fee band for the route. See sending money from Brazil to Haiti for every option.

Bottom Line

Sending money from Brazil always costs 3.5 percent in IOF, so the only part you can control is what the provider keeps on top. That ranges from under 1 percent with Wise on the major currencies, or Remitly on the regional routes, to more than 5 percent at the dearest banks. Itaú is the bank that comes closest to the specialists.

Compare the VET, pay by Pix from your own account, and pick the provider by route rather than by habit. For a wider look at keeping costs down, read our guide to the cheapest international money transfer.

Sources

• Banco Central do Brasil: VET ranking for remittances, September 2026 (USD)
• Banco Central do Brasil: Ranking do VET open data
• Banco Central do Brasil: What is the VET
• Banco Central do Brasil: Find an authorised institution
• Banco Central do Brasil: Brazilian capital abroad (CBE)
• World Bank: personal remittances paid
• Bradesco: personal customer tariff table
• Itaú: international transfers
• Santander Brasil: how to send money abroad
• Western Union Brasil: price table, July 2026
• Wise: currencies you can send to and from
• Wise: security and regulatory information
• Remitly: send money from Brazil
• Remitly: sending limits from Brazil
• Senado Federal: Law 14,754 of 2023
• Agência Brasil: new rules on carrying cash in and out of Brazil
• Cescon Barrieu: changes to IOF on foreign exchange