Send Money from the UK to Brazil

If you want to send money from the UK to Brazil, you’ll have to choose a money transfer service. 

The best money transfer service for your transfer depends on various factors, like the amount you’re sending, how quickly you need it to arrive, and how much you’re willing to pay in fees. 

However, it can be overwhelming with so many providers to choose from.

In this article, I will explain your options for sending money from the UK to Brazil to help you find the right solution that meets your needs.

What’s the Best Way to Send Money from the UK to Brazil?

Generally, for smaller amounts, online money transfer services like Remitly and Wise can be convenient and cost-effective. They often offer competitive exchange rates and low fees, with transfers usually completed within 24 hours. 

However, whilst most providers can process large transfers to Brazil, some may limit how much you can send, which could be a problem for larger amounts.

Bank transfers are a popular alternative for securely sending large amounts of money directly to popular banks in Brazil like Itaú Unibanco and Bradesco.

Although familiar and reliable, bank transfers typically incur higher fees, which makes them less cost-effective. They’re also processed significantly lower, so they are unsuitable for urgent transfers.

What’s the Cheapest Way to Send Money from the UK to Brazil?

Remitly is the cheapest way to send money from the UK to Brazil, if you can access the new customer promotions.

At the time of writing, Remitly offers free transfers and an enhanced exchange rate of 6.37, helping you to reduce your costs and maximise the value of your pound.

However, if you’ve previously used Remitly and a similar offer isn’t available, Revolut or Wise would be more cost-effective.

Although Revolut and Wise charge a transfer fee, they have competitive exchange rates, which counteract costs, meaning you’ll receive more Brazilian real for your pound.

What’s the Fastest Way to Send Money from the UK to Brazil?

The fastest way to send money from the UK to Brazil is usually through online money transfer services like Remitly or Wise, where transfers can be completed within minutes or a few hours.

Online money transfer services offer quick transfers like sending money by card or using instant bank transfers. 

Some banks and online money transfer services may also provide expedited transfer options for an additional fee. 

However, as you can see from the table, all the providers I evaluated offer similar transfer speeds, with none taking longer than 24 hours to send money from the UK to Brazil.

Can I Send Money from the UK to Brazil?

There are several ways you can send money from the UK to Brazil.

1. Online Money Transfer Service: Providers like Remitly and Wise offer fast transfers with a competitive exchange rate and low transfer fees. Although most providers can process large amounts of money, some may limit the amount you can send, which could be a problem for larger transfers. 
2. Bank Transfer: Suitable for sending large amounts of money from the UK to Brazil, bank transfers can be slower than online money transfer services, and exchange rates may be less competitive. 
3. Digital Wallet: Platforms like PayPal and Skrill are best used for smaller transfers to friends and family. Whilst fast and convenient, this method usually has higher transfer fees, making it less cost-effective. 
4. Prepaid Debit Card: Services like Revolut offer prepaid cards to load funds onto and send the balance to the recipient in Brazil. Ideal for recipients who don’t have a traditional bank account in Brazil, prepaid cards may incur fees when loading or withdrawing funds, reducing the amount your recipient can access.
5. Cryptocurrency: Suitable for tech-savvy individuals comfortable with cryptocurrency transactions, this method has potentially lower fees than traditional methods. However, the volatility in cryptocurrency prices can affect the value of transfers, and it has limited acceptance by merchants in Brazil.

Sending Large Amounts of Money From the UK to Brazil

Revolut is the best way to send large amounts of money from the UK to Brazil, with most currencies having no maximum transfer amount limit. Where there is a limit, it will be shown in the app before you initiate the transfer.

Wise is also suitable for large transfers to Brazil, with customers able to send up to £5 million per transfer depending on payment method.

As shown in the table, the maximum amount you can send from the UK to Brazil varies widely between providers, so it’s essential to check that your provider meets your needs before beginning the process.

Some money transfer services may offer better exchange rates or discounted transfer fees for larger amounts, whilst others will increase their costs. 

You may also need to provide additional documents like proof of the source of funds or copies of a government-issued ID to comply with identity verification and anti-money laundering checks.

You can set up regular payments from the UK to Brazil in various ways.

1. Online Money Transfer Services: You can schedule regular payments to Bazil through online money transfer services like XE and Wise. This method is convenient and flexible, but exchange rates can fluctuate over time, affecting the amount received by the recipient in Brazil. 
2. Direct Debit: Suitable for paying bills and subscription services, you can authorise a company in Brazil to withdraw funds from your UK bank account through a Direct Debit. Although this method eliminates the need for manual transfers, you will have limited control over payments and timings, which could lead to potential overdraft fees if funds are insufficient. 
3. Standing Order: Ideal for regular fixed payments, standing orders give you greater control over payment amounts and timings. However, they’re unsuitable for variable amounts as you may incur fees or have to set up a new standing order if details change. 
4. Digital Wallet: Platforms like PaPal allow you to end recurring payments to individuals or businesses in Brazil using their e-mail addresses or phone numbers. Although fast, this method has higher transfer fees and a less favourable exchange rate, making it less cost-effective. 
5. Cryptocurrency: You can send regular, automated Bitcoin or Ethereum payments if you and your recipient have cryptocurrency wallets. Whilst this method may have lower fees, you must be familiar with cryptocurrency before considering it.

Sending Money from the UK to Businesses in Brazil

You can send money from the UK to businesses in Brazil using an online money transfer service like Remitly.

Online money transfer services are ideal for sending regular and one-off payments to businesses in Brazil, as they have fast transfer speeds, competitive rates, and lower fees.

However, some providers like WorldRemit limit the amount you can send within a specific period, which could be a drawback for sending large amounts of money.

Alternatively, you can use a traditional bank transfer to securely send money to popular banks in Brazil like Santander, Banco do Brasil, and Caixa. 

Whilst reliable and familiar, bank transfers can be slower than online money transfer services, so they’re unsuitable for time-sensitive transactions. 

Depending on how much you send to the recipient business in Brazil, your transfer provider may request further information, including an invoice or contract and the business’s 14-digit Cadastro Nacional da Pessoa Jurídica (CNPJ), for regulatory purposes.

How to Send Money from the UK to Brazil

How you fund your transfer to Brazil depends on the transfer method and provider.

Some of the most popular methods include:

1. Bank Transfer: This payment method is direct, secure, and reliable, but it may take longer for your provider to process due to the additional verification checks. 
2. Credit Card: Suitable for urgent transfers, or if you want to earn rewards or cashback, paying for your transfer by credit card gives you additional consumer protection. However, credit cards usually have higher fees and interest rates than other methods, making them less cost-effective.
3. Debit Card: Similar to credit cards, paying by debit card is fast, convenient, and widely accepted. It typically has lower fees than transfers funded by credit cards, but it may be subject to daily spending limits, making it less suitable for large transfers. 
4. Cash: Ideal for those without a traditional bank account, cash payments are processed quickly but are less convenient and less widely accepted than other methods. 
5. Cheque: This traditional method is a secure way to create a paper trail for large transfers but has a much slower processing time than electronic payment methods and has a higher risk of fraud or delay.

What Details Do I Need to Send Money from the UK to Brazil?

You’ll need the following details to send money from the UK to Brazil: 

1. Recipient’s Contact Information: Make sure you have the correct spelling of the recipient’s full name as it appears on their bank account. You’ll also need their address, e-mail address and phone number.
2. Recipient’s Bank Details: If you’re making a bank transfer, you’ll need the recipient’s bank name and address, 3-7 digit branch code, account number and 8-11 character SWIFT/BIC code. Some providers may also ask for the 13-digit Brazilian Bank Account Number (BBAN), which comprises the bank’s identification code, branch code, account type indicator and account number. 
3. Alternative Payment Details: If you’re using a digital or cryptocurrency wallet, you’ll need the e-mail address or mobile number associated with the recipient’s account. 
4. Further Details: Additional information may be requested, like the purpose of the transfer and the recipient’s Tax Identification Number (TIN). In Brazil, the TIN equivalent is the 9-digit Cadastro de Pessoas Físicas (CPF) for individuals or the 14-digit Cadastro Nacional da Pessoa Jurídica (CNPJ) for business.
5. Additional Documentation: You may need to provide extra documentation for verification checks and regulatory compliance. These documents could include proof of your address, like a utility bill, proof of the source of funds, or copies of government-issued IDs, such as a valid passport or driver’s license.

How Much Does It Cost to Transfer Money from the UK to Brazil?

How much it costs to send money from the UK to Brazil depends on your transfer method and provider.

The main fees you may experience include:

Transfer Fees

A service provider charges transfer fees to cover the cost of sending money from the UK to Brazil.

These fees can vary widely between providers, with online money transfer services typically charging between £0 to £10+ per transfer, whilst banks charge around £10 to £30+. 

Exchange Rate Margin

Providers typically apply an exchange rate with a margin or markup when converting your pounds to Brazilian reals. This margin represents the provider’s profit and may vary depending on market conditions and the provider’s policies.

Online money transfer services usually have an exchange rate margin of 0.5% to 2% above the mid-market rate. 

In contrast, banks often have a higher exchange rate margin rate of 2% to 5% above the mid-market rate, meaning you’ll get fewer Brazilian reals for your pound. 

Intermediary Bank Fees

When sending money internationally to Brazil, correspondent banks may be involved in the transfer process. 

These intermediary banks may charge fees for processing the transaction, which can sometimes be deducted from the transferred amount. 

Intermediary bank fees are more commonly experienced when you send money by bank transfer, ranging from around £10 to £30 per bank involved. 

Recipient Fees

In some cases, the recipient’s bank in Brazil may impose fees for receiving international transfers. These fees could be deducted from the amount received by the recipient. 

Recipient fees are less common with online money transfer services than with banks and usually range between BRL 10 and BRL 50.

Additional Charges

In addition to transfer fees and exchange rate margins, some providers may apply extra charges for specific services or features. 

For example, expedited transfers or delivery options may incur additional fees. 

Faster transfers through online money transfer services can cost between £5 to £20+, whilst banks charge around £10 to £30+.

How Long Does it Take to Send Money from the UK to Brazil?

When sending money from the UK to Brazil through an online money transfer service, it typically takes 1 to 5 business days for the funds to reach the recipient. 

In contrast, bank transfers may take longer to receive in Brazil, usually taking between 3 to 7 business days or more. Banks often have internal processing times, and international transfers may involve multiple intermediary banks, which can add to the overall processing time.

Each money transfer service or bank has its own internal processing times for verifying and processing transactions. Some providers may process transfers more quickly than others.

The time difference between the UK and Brazil and the respective business hours of the transfer service or bank can affect when the transfer is initiated and processed.

Transfers initiated on weekends or public holidays may experience delays, as banks and transfer services may have reduced operating hours or be closed entirely.

Frequently Asked Questions