There are many ways to transfer funds from the US to Brazil. One of the easiest ways to do this is to establish a relationship with a US bank that is well represented in Brazil, such as Bank of America, Wells Fargo or Citibank.
If the beneficiary of the monies has an account with one of these banks, it is a great 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 quicker rate and with little or no extra cost. Bank transfers between two differing banks are also relatively easy; however, transferring funds from one bank to another can involve a waiting period of up to 5 business days with substantially higher processing charges.
Fees can be extremely high for international wire transfers. If, though, the money needs to arrive fast, this is the best possible 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 perhaps often send funds to family in Brazil, the pre-paid debit card is a terrific option.
Upon activation, sending a debit card with the PLUS or CIRRUS logo on the back will guarantee that funds can be withdrawn from a gigantic and far-reaching network of ATMS located throughout Brazil and all over the world.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 sure that the cardholder is not withdrawing money without prior authorization, for these are not pre-paid and hold no exact limit.
A pre-paid debit card is loaded with a fixed amount and cannot be overspent, making it a very safe option. If more money is needed at a later date, the card can be reloaded as many times as required.
In addition to these methods, online payment services are becoming the most popular way to send funds overseas. This method moves the funds quickly and the fees are fairly low, however, the reciever must have a banking history in Brazil in order to access the funds.
One benefit of sending funds this way is that the money can be used to buy goods and services electronically without ever needing to change the sent money into actual cash. On the other hand, if the reciever does wish to turn these electronic funds into cash, it is more challenging than with other proven methods, due to processing rules.
With whichever method you choose, fund transfer between the US and Brazil is now an easy process. Be it via bank transfer, pre-paid debit card or online transfer, funds can be sent faster than ever.
