There are many ways to transfer money from the United States to Brazil. One of the simplest ways to do this is to develop a relationship with a US bank that is well represented in Brazil, such as Bank of America, Wells Fargo or Citibank.
If the receiver of the funds has an account with one of these banks, it is a good idea to open an account locally as well with the same bank, seeing as how account transfers within the same bank are frequently processed at a sooner rate and with little or no extra cost. Bank transfers between two differing banks are also relatively unproblematic; however, transferring funds from one bank to another can entail a waiting time of up to 5 work days with considerably higher processing costs.
Fees can be quite high for global wire transfers. If, though, the funds needs to arrive rapidly, this is the best viable option.
Other than the bank transfer, another way to send money to Brazil is through the pre-paid debit card. In an emergency this may not be the best method, since it takes some time for the card to physically be sent to the person in need of funds; but for those who possibly often send money to family in Brazil, the ATM debit card is a terrific alternative.
Upon activation, sending a debit card with the PLUS or CIRRUS logo on the back will ensure that funds can be withdrawn from a gigantic and far-reaching network of ATMS located throughout Brazil and all over the world. If choosing to use an ATM card, you need to be certain that the cardholder is not retrieving funds without prior consent, for these are not pre-paid and hold no specific limit.
A pre-paid debit card is loaded with a fixed amount and cannot be overdrawn, making it a very protected option. If more money is needed at a later date, the card can be reloaded as many times as needed.
In addition to these methods, online payment services are becoming the most popular way to send money overseas. This method moves the money quickly and the fees are relatively low, however, the recipient must have a banking history in Brazil in order to access the funds.
One benefit of sending money this way is that the funds can be used to purchase goods and services electronically without ever needing to change the sent money into physical cash. On the other hand, if the recipient does wish to turn these electronic funds into cash, it is more difficult than with other proven methods, due to processing procedures.
With any method you choose, money transfer between the United States and Brazil is now an easy process. Be it via bank transfer, pre-paid debit card or online transfer, money can be sent faster than ever.
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