There have never been more options available to send money to Brazil from the United Kingdom in a safe, quick and secure way.
How To Send Money to Brazil from the UK
In 2015, there were an estimated 120,000 Brazilians living in the UK according to the Brazilian consulate in London. This figure is thought to have increased since then.
Brazil is also a popular choice for British expats with around 11,000 British citizens living in Brazil. That, coupled with the large volume of British tourists visiting Brazil annually, means that there is a high demand for financial services. Subsequently, there are many offerings on the market to send money to Brazil from the UK.
Methods to Send Money to Brazil from the UK
Sending Money to Brazil via Online Money Transfer
There are many online services available for transferring funds to Brazil. These tend to offer the best exchange rates. Services such as TransferWise are widely recognised for low transfer fees and the best exchange rate between the British Pound and the Brazilian Real. In addition to TransferWise, Remitly and Azimo are also known for their fast and cost-effective methods.
Sending Money to Brazil via PayPal
PayPal payments to Brazil are supported by Xoom. However, this is not necessarily the most cost-effective option. Xoom makes a profit through international conversion meaning that it is not the best exchange rate on the market. Additionally, they charge a transaction fee.
Sending Money to Brazil via Bank Transfer
Sending money to Brazil directly from a UK bank account is not considered the best option as it works out as more expensive. Not only do they offer a less competitive exchange rate, they also have some of the highest transaction fees on the market.
Sending Money to Brazil via Western Union
Western Union is one of the most widely-used methods for international transfers. They offer the option of sending money online, via mobile payment or in person. The recipient can, in turn, receive the money directly into their bank account or can collect the cash (from more than 12,000 locations).
Can I Send Money to Brazil via Cryptocurrency?
Cryptocurrency is not currently supported in Brazil.
You can send money to Brazil from the UK in as little as a few hours
Can You Send Money to Brazil For Free?
Money transfer services are never completely free as they always involve some form of transaction fee or exchange rate. However, many of these are extremely low. Sending money via TransferWise is one of the cheapest methods on the market. Per transaction, there is a flat fee of 1.2 GBP + 1.18% of the amount that is converted. Subsequently, the more money sent, the higher the transfer fee. Remitly is considered to be one of the cheapest ways to transfer funds to Brazil.
How Long Does It Take to Send Money to Brazil?
Depending on the service provider chosen to transfer money to Brazil, funds can be delivered very quickly. Azimo, TransferWise and WorldRemit can all deliver funds within a few hours to one day. Remitly offers an express service, for an extra fee, which means funds can arrive to the recipient instantaneously. Bank transfers tend to take longer at around 1-3 business days.
What Do You Need to Send Money to Brazil?
For any online payments, you will need all relevant login details and possibly a card reader. Bank transfers typically require a form of photo ID as well as a valid payment method (debit or credit card).
Is it Safe to Send Money to Brazil from the UK?
When sending money internationally, you should always adopt caution. One key factor to be aware of is FCA approval as it ensures that the accounts are safeguarded. With any legitimate company, you should be able to easily find their FCA details on their website. Be especially careful when sharing any confidential information such as passwords, particularly in phone and email correspondence.