Sending and receiving money in Brazil (swift, iban and other horrors) – Update 23/07/2012

Update 21/11/2013

Bradesco is now also offering money transfers via Western Union, although you have to have a Bradesco account to send.

Update 19/07/2013

The Brazilian Central Bank has issued a notice stating that, from now on, all transfers must also contain the IBAN, which was not previsouly used in Brazil. For more info, see:

I recommend you visit your agency, although they probably won´t know what the heck you are on about, and insist they give you the IBAN and SWIFT for money transfers.

Last update 23/07/2012. Updated information on the limits for Western Union via BB in Brazil.

If you ever need to transfer money from a foreign account to a Brazilian bank, you will need the swift code and all relevant bank and account information (full name and address, agency and account number, etc.). Some countries also use the IBAN which is basically the bank account and agency numbers. The IBAN is not used in Brazil. The SWIFT code, however, is the country code, bank code and city code, totaling 11 digits. In order to get this code right, you will have to contact the receiving bank and ask for it, or ask the receiver to find out the SWIFT code of the bank in Brazil. Don´t call the main office as they will tell you to call the branch. Try the “cambio” desk of the branch. Below, some SWIFT codes of the main Brazilian banks and some useful websites in case you need more information. You will not need the SWIFT of the agency, just the general SWIFT of the bank in Brazil to send money.  If you need help, write a comment.

Swift codes of major Brazilian banks
Note: all More information links are to the International Remittance page of the bank´s website, in Portuguese. It is VERY important to use these swift codes for sending money as most banks have more than one swift code. If you are unsure or have not been given information on the specific “branch”, use the general swift codes provided below.

Swift code: ITAUBRSP
Bank code: 341
More information
Contact info

Bank code: 237 (Bank Bradesco S.A)
More information

Caixa Economica Federal
Swift code: CEFXBRSP
Bank code:
More information

Banco do Brasil
Swift code: BRASBRRJ
Bank code: 001
More information
Western Union (Banco do Brasil is the only bank that accepts remittances via Western Union)

Swift Code: BCBBBRPR
Bank Code: 399
More information
Client services

Santander (Banco Santander Banespa)
Swift Code: ABNABRSP
Bank Code: 033
More information

Swift codes:
Bank websites
Bank codes (see below)

Bank codes (all Brazilian banks)
Full list from Central Bank website

Useful Links
Free IBAN Calculator (some countries only, except Brazil)
Remessa de Recursos para o Brasil

Ways to send and receive money in Brazil

Bank transfer (wire)

This is the best option if you are sending large amounts. According to an article I read in Epoca magazine the other day, the bank rates (on reception or to send, in BRL) are the following:

Bradesco: Up to 100 dollars, regardless of amount.
Itaú: Up to 200 dollars
Caixa Economica: 1% of amount and max. of 100.
Banco do Brasil: 1% of amount and max. of 200.

Receiving money from abroad can be a real pain because most bank employees (especially in small towns) get no training on this service (as noted in a very useful blog). The money is usually bottlenecked somewhere in between for reasons unknown, while the banks/Central Bank demand loads of unnecessary paperwork and then clear the transfer to the corresponding account. This is especially true is you are sending large amounts. The limit is 10,000 BRL.

Western Union and other money order services
Another option is Western Union. The limit for sending and receiving varies from country to country, but Brazilians that want to send money from Brazil must have a bank account in BB. For sending or receiving less than 3000, not much paperwork is required, if you want to send or receive more than 3000, the sender must sign an Authorization provided by the bank. Western Union is not intended for commercial transactions. Information on receiving varies and is confusing. BB claims that the limit is 10,000 if you have an account in BB, but Western Union claims that if you want to receive amounts higher than BRL 4,000 you must have a bank account in BB (source: For more information check with your bank or the Western Union Booth in your country (not Brazil).

Then there is Remessa Expresso, mostly offered by travel agencies in Brazil. All these services request Brazilian documents. This is unbelievably ridiculous as it´s supposed to be an international service. The Brazilian government has probably made up this new rule to prevent immigrants from sending part of their wages to their families. If you want to RECEIVE via Western Union, you must have a valid passport or a Brazilian document and the 10-digit code. If possible, take the name of the person that is sending and the amount. The Caixa Economica Federal also has a money transfer service via Caixa Internacional.

The Brazilian government is also controlling services like Paypal. Brazilians companies can no longer use PayPal to make payments to people or companies in Brazil. If you do manage to use it, there is limit and they charge 6% to transfer the payment to your Paypal account. Then you must have a bank account in Brazil to transfer the money to. It´s free for payments over 250 R$.

Other services
Most countries offer other methods of sending and receiving money from Brazil or other countries. In Brazil, there is the so-called “parallel” market and services based on this market are mostly offered by travel agents. The line between legal and illegal in this case is extremely thin although some services are not approved by the Central Bank. I get lots of messages from these companies and most foreigners use these local money transfer services, but they can always cause delays if the money goes to a regular Brazilian bank account because they are not always “recognized” in Brazil although they are perfectly legal.  Some companies offer rate-free transfers, but I cannot comment on those as I have never used these services.


Sending money from Brazil
Sending money from Brazil abroad is always a nightmare. Besides Western Union, you don´t have many easy options. The bureaucracy is so suffocating, I almost gave up immediately.  You must justify the reason for sending the money, with contracts and agreements and invoices, or, if for personal use, you must prove family/blood/marital bond. Without this information, Brazilian banks are not authorized to send money.

Update 10/03/2012

Just a short update to say that there is a service called Dinheiro Certo (changed to Vale Postal Eletronico) provided by the Brazilian postal service (Correios) that allows sending of money from partner countries. Check the following link (in Portuguese) to see the countries. They charge 28 reales and 0,75% for sending cash to Brazil. The recipient has to have Brazilian documents but, unlike Western Union, the sender does not need to have any Brazilian document and there is no limit of transactions for Brazilians (WU can only be used if you have CPF and Brazilian documents in Brazil and the annual limit is 2000 dollars).

Link to partner countries of Dinheiro Certo (Vale Eletronico)

A great article from the Administradores website on this service (in Portuguese)

Some advice before you start…

  1. If you have to send or receive money from/to Brazil, arm yourself with lots and lots of patience, take a deep breath and make sure you have all the information you need because you are in for a very bumpy ride. Brazil is one of the worst countries to send or receive money, believe me.
  2. Get all the information you possibly can from the recipient. Gather all documents that prove your bond with the recipient and hand them over to the bank clerk. Ask them to include all this information even if it´s not requested on their side. It´s requested in Brazil and your money will get stuck in limbo if you just send it with a swift code and bank info.
  3. Monitor the status of your remittance. Ask the receiver to go to the bank and check the process on their end. Don´t assume it will simply fall into the account. Chances are, it won´t.
  4. Think twice before sending small amount or very large amounts. The rates here are unreal, almost alien. On this side, the receiver will be charged a new “international transaction” charge and IOF (financial transaction charge), even if the money is exchanged outside Brazil. Some banks are using foreign account to exchange and filter the money so be more competitive, but you cannot escape the claws of the central bank once the money is in Brazil.
  5. Whenever possible, use PayPal, Moneybookers and the like for small amounts. They exchange the money outside Brazil. Keep in mind that if you use Western Union and the Itau money transfer service, the money is exchanged in Brazil. The advantage of these services is that you do not need a Brazilian bank account and you can collect in cash. The ridiculous aspect, is that you have to have a Brazilian document to receive or send money via Western Union, and proof of residence as well via the Itau service.
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About Cipriana

I am an Argentinean-born British citizen who has been living in Brazil for more than 20 years. I am married with two children and currently live in a small town in the interior of the state of São Paulo. I have been a Spanish/Portuguese to English translator, language teacher and course developer for more than 25 years, and currently coordinate a team of translators and work part-time as an accounts manager in a language services company.
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407 Responses to Sending and receiving money in Brazil (swift, iban and other horrors) – Update 23/07/2012

  1. nadim says:

    there is no better way to send money to a brazilian bank account than via transferwise. it’s a money transfer service, and they use mid market rate for conversion to real. for their service they charge 2% of the amount transferred. but on the bright side – there is NO IOF tax and no bank rip off rates! i was like, how is that possible?? the trick is that your euros are wired to transferwise account in the EU, when the money is on their account, then they wire reais from their transferwise account in brazil to a local brazilian account of choice. as you see, there is no actual money changing involved. just simple ingenious money service. i’ve used it couple of times already and the money is transferred within 2 working days. they are present in many countries, like Australia, GB, New Zealand, EU and USA.

  2. Charine says:

    Hi! I have a man from Brazil. He wanted to send me some amount so I told him to just send it through my bank account. I am from Asia. I am just confused because he keeps telling me that he only needs my ID. I am so do not understand him because he said that he will send it frm his bank. So if thats the case all he needs is my bank infos, right? So why is he asking for my ID alone instead of my bank infos? Ridiculous!

  3. Yasmina says:

    Hi Cipriana, thank you for your very useful blog. I need help. My parents (step-dad Brasilian & mum Spanish) want to relocate from Brasil and sell their land and come to the UK and buy something small from what they get from their land and house. They have an account with Santander bank and they thought I could open an account in the UK with Santander and then send me the money of what they get through Santander bank. Once here then the idea would be for them to open an account and the money to be transferred back to them. Would this be a way of doing it? Or would there be a better way? I have a current account with Natwest, but they think it’s better for me to open a Santander account as they have a local Santander account there….

    • Cipriana says:

      Thanks for the comment. Yes, you could do it that way. It´s always better to use the same bank. You have to be careful with the exchange rate though. Brazilian seem to always use the highest possible rates of the day, which are usually different to the rates used by overseas money transfer services like MoneyCorp. You can also use a broker if you already know one (people who deal with Forex). They usually work in travel agencies. If you don´t have one, just check the rates Santander is using on the day you plan on sending and check the rates with another reliable foreign exchange/money transfer service.

    • Gustavo says:

      Have you ever heard of bitcoin? That’s the main reason it exists.

  4. Diego says:

    ótimo blog

  5. robert says:

    i need to transfer some money to my friend in brasil . he given me his bank agency as bradesco 0699-8 . what all the other details i need from him . he has given me his name… agency name and address … and i will be transferring 5000 R$ … please guide me i will be greatful

    • Cipriana says:

      You generally need, swift (the other end has to get it for you at their bank or use the generic listed in this post), IBAN (Brazil claims it uses it, but most bank employees don´t even know what it is. Ask your friend to ask the manager), bank code (the bank will also provide that), agency, account number, full name and address of recipient. Bank code, agency and account number are not necessary if the bank recognizes the swift and iban.
      I tried to send money to Israel the other day via Itaú and the transfer was stuck because I was supposed to send the iban. They never told me, they just waited until I got in touch to ask what the heck was happening. If the money is coming into Brazil, it´s best to tell the manager so he can call or clear it when the wire arrives. You have to involve people in Brazil, because nothing is automatic.

  6. Philipp says:

    I have to thank you for the efforts you have put in penning this
    website. I am hoping to check out the same high-grade
    content from you later on as well. In fact, your creative writing abilities has inspired me to get my own, personal website now ;)

  7. Howdy this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you
    have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get advice
    from someone with experience. Any help would be greatly

    • Cipriana says:

      Thanks for the (off) topic :) I use the wordpress interface within wordpress. I don´t use manual code and did not download wordpress to my computer. It´s all online. Hope that helps. If you want to customize, I suppose you have to know some code, but I’m happy with the things this theme offers.

  8. Badaru says:

    My brother sent me money from Brazil and its emessa expressa how can i pick it up ..The Location of the bank is

    Need Help .. !!!

    • Cipriana says:

      How did he send it? Do you have an account at this bank? You have to ask the bank how to pick it up. Go to an agency with the transfer number and a document.

  9. Ian says:

    I am an Australian and my girlfriend is Brazilian, we both live in Sydney together. She needs to transfer 300,000 (brazilian currency) to Australia as she now resides here. Do you know what the rate of tax is the Brazilian government will charge for such a transfer? Also what is the method of transfer that attracts the lowest tax rate.


    • Cipriana says:

      Sorry for the delay. I am no expert, but she will have to declare that value in her income tax. That done, she should contact a money transfer company such as moneycorp or similar, or find a broker. The bank will charge rates. Its very difficult to give advice on these issues because in Brazil we use methods are very unorthodox, but I would find a broker to find the cheapest way to send the money.

  10. Richard says:

    Dear Cipriana,
    Question: in the IBAN, there is a 5 digit field for “Agencia”.
    My “Agencia” number is of the form xxxx-y where I think xxxx is the main number and y is the “dígito verificador” (check digit). The guidance from Banco Central do Brasil in Circular 3.625 concerning composition of IBAN states:
    For the “Agencia: “5 caracteres numéricos correspondentes à identificação da agência bancária (sem dígito verificador)”
    Whereas for the “Conta” it is “10 caracteres numéricos correspondentes ao número de conta do cliente (com dígito verificador)”
    My Bank has given an IBAN with the “Agencia” part as 0xxxx WITHOUT the check digit. But when I try to use that IBAN, my bank (outside brazil) says the IBAN is invalid for transfer to Brasil ! Whereas when I try to modify the IBAN to include Agencia number xxxxy it says valid !
    So any help to explain would be great !\

    • Cipriana says:

      Unfortunately, in Brazil they are always making up laws and then no one is trained or notified about these laws. The amount of people complaining that their bank does not even give them the IBAN, probably because they don´t know it, is amazing. We just aren´t ready for these things. Some banks, like Banco Rendimento, offer an online service that generates the IBAN for you. But most all-Brazilian banks don´t even bother.
      That said, I did some research and according to people who have managed to send, you have to add a 0 before the agency number to complete those 5 digits. So, if your agency number is 1505, for example, you should type 01505. I hope that works. Either way, as long as you don´t add any other number (only zero), it should get there.
      Good luck
      (main source:

  11. s clapson says:

    I have the account no, bank code and agent no. How do I turn this into a swift no? My internet banking says I need 6 nos for a sort code, which oi do not have? Any help gratefully received x

  12. mario says:

    hi, I’m back, I have another question, if this person is scamming me, as I think it is, What i have to do once i get to rio de janeiro? Works the police or some other agency to report this? please if you can explain and help. Thank you.

    • Cipriana says:

      Go to the police with the person’s info and all the emails, and the receipts and register a bo (boletim de ocorrencia). Also, contact the recipient bank and try to find out what happened. That email address of the bank looked a little strange. You should ask if they have anyone with that email address.

      • mario says:

        but the police can do something? can solve the problem? we are going to be 11 days, at that time may do something?

        the sad thing about all this is a holiday in the police solving this.

        • Cipriana says:

          I don’t think they can do anything. You have to prove the money was collected first and then go to the tribunal de pequenas causas for legal help, or register the bo for theft. I would warn the person first to see if they give up. Just try to track down the money.

          • mario says:

            ok, thanks cipriana, i know that not everyone in Brazil will be irresponsible as this person but first time this happens to me, we have traveled to several countries and never happened this. very sad that still are people like that.

  13. dick says:

    You need to be a part of a contest for one of the best blogs on the internet.
    I’m going to recommend this web site!

  14. mario says:

    Hello, I would like you to help me, I made a transfer from bank of america to Brandesco in Brazil and the person tells me I still can not see the payment, have already been 2 semamas and says the same, the bank asked me the swift mt 103 but as far as I have understood it is the transfer recivo already gives you. this can last as for the see the money? that problem can be presentadose lest they see the money in your account?

    Thanks for your help and excuse my English.

    • Cipriana says:

      Tell your friend to go to bradesco and find out what is missing. Brazilian banks do this all the time. They secure payments coming in because some document the Brazilian central bank needs is missing and they wait for the recipient to appear. The payment is probably there, in their computers waiting to be claimed. You’ll only solve it on the Brazilian side.

      • mario says:

        he told me that it is in contact with the bank but they say they still do not see any transfer to his name, I will send the bank transfer receipt and to my statement that the transfer observed, but the bank asked the MT103 swift and really not know that’s it. I send he the swift code and the number of transfer at my bank told me that this information should be enough for them to locate the transfer. There is something else that you would recommend? is normal in these situations banks brazil?

        • Cipriana says:

          Well, money can’t simply disappear. Your friend has to get the swift of his or her bank, and then you could add that info or get the money back and try again. You can also ask your bank for its swift code to help your friend track it. Is this friend reliable? Sorry to ask, but friends of mine have sent money only to hear “what money?” on this side. Brazilian banks are fussier than other banks. They have their own rules. Get the swift and iban from your friend’s account, cancel the transfer, and send it again, or add the info so they can see if hereq.

          • mario says:

            well he is not a friend, is someone who I are renting an apartment in Rio as we vacation in August over there and they recommended it as responsible, so far I answer all emails and calls seeking a solution, I I contacted my bank to cancel the transfer but was told they no longer can because as the money was transferred and is for waiting to be claimed, but according Brandesco they see no transfer on behalf of the company, the bank said today we that are happening in the problem department full of international transfers but I already fear for my money. I’m afraid to say that this lost and quite.

            • Cipriana says:

              Insist, don’t consider it lost. Keep insisting with this person and ask your bank for more details, then email the bank in brazil, to the cambio department. It can’t just disappear. They have to track it.

            • Cipriana says:

              Do you trust the people who transferred?

              • mario says:

                well I do not know him, I hope to be a serious and trustworthy person, he has been sending me copies of emails that goes to the bank, send email to this person who told me is change department (4902.jessica @ . br) for domain of the email account I guess it’s true that he is communicating with they and I get emails that the bank replied. I hope everything is true.

  15. Tass says:

    Bom dia,
    I have a Brazilian friend who has to send me 3000 Reais to Spain (996 euros aprox.). He has an account in Banco do Brazil and it seems that the fee is almost 100 euros! I don’t understand the reason. He sent me this:
    Nome do acessório Valor em moeda nacional
    What does it mean? Is there a cheaper way? Correios is still expensive, around 76 euros…
    Thank you!!

    • Cipriana says:

      Ask your friend what those expesas externas are. I think they have nothing to do with the bank. Have you considered western union? It works through banco do brasil. I suspect those “external expenses” are not exactly “necessary”.

  16. Pablo says:

    A very good article. I am selling my Brazilian house and the client is prepared to pay the R$ 700,000 direct into my UK account. Do you think there will be a problem? Is that best done bank-to-bank? Will I be taxed? Thanks for any replies…

    • Cipriana says:

      I´m sorry I took so long to answer. Just moved to the country and the internet connect is really bad.
      Are you Brazilian? You will probably have to pay the tax (2%) when you do the paperwork. If I were you, I would use a money transfer service, like money corp, or a private broker. Other than that, I don´t think you will be taxed in Brazil, only in the country of origin. Not sure though. Sorry. Ask the buyer to ask all the questions at his bank before sending the money.

  17. Paul says:

    Your link is giving wrong IBAN number. Please remove it and don’t let others use it!

  18. David says:

    What a great blog post – thanks for your efforts! I have recently moved to Brazil with work, and I’m trying to send US$200 to a friend abroad. What are the best options for this amount? I have an account with Bradesco but bank fees are high. Western Union seems to be the “best” at 10-15% fee. Paypal doesn’t seem to work for personal transfers abroad from Brazil. Options seem limited for any amount less than US$1000(!) Any insights or suggestions would be gratefully appreciated :)

  19. richard says:

    Hi Cipriana,
    I live in the U.S. and I’m in the process of purchasing a popsicle machine from a Brazilian manufacturer and the process has hit a huge snag. I’m hoping you can shed some insight on the situation. The machine is being purchased thru 2 swift wire transfers. The first went thru back in January without a problem. However, the second transfer made in early March is where the nightmare begins. Long story short, between the transfers, my wife had to change her middle name on the account from her actual middle name to her maiden name. So, according to the company in Brazil, Itau bank isn’t accepting the second transfer as being from the same person as the first, even though the account # and everything else remained the same. My bank has sent numerous documents thru email and swift stating the two names are the same person. The wire dept. for my bank received a message from Itau bank stating that the beneficiary has yet to provide documentation to claim the funds from their bank. However, the company keeps telling us that it’s the bank that is the bottleneck in the process. The person in charge of finances for the company has briefly corresponded with our bank officer and has stated that Itau has sent them numerous emails, which isn’t true according to our bank officer. From the 8 months of research I performed prior to this purchase, this company had an impeccable reputation as being the world leader in popsicle machine manufacturing. So, I felt comfortable making this transaction. However, I can’t help but feel they’re being dishonest with us based on what the wire transfer dept. is telling us. The company has suggested that they will return the first wire and that we have our bank recall the second wire, then send the whole amount in one transfer. We’ve agreed to this, but when we initiated the recall of the second transfer the wire dept. says the company will need to approve this recall, which they’ve yet to do. Now they keep telling us “give it 24 more hours and hopefully we will have it resolved.” As of today, we have been dealing with this issue for 4 weeks, with no end in sight. Any help is much appreciated!!

    • Cipriana says:

      Thanks for your comment. Please keep in mind that everything in Brazil takes a long, long time, especially when it comes to banks and transfers. Products take 3 months to pass through customs, against 1-2 days in Argentina or even less in most other countries. Delays and bureaucracy are something we have to deal wit on a daily basis. That said, I would send an email to the company saying you are still interested in purchasing the machine and that you simply cannot understand why they are taking so long to clear the recall. Brazilians need a good nudge to react to things and will not usually quicken their pace when you are too nice and patient. Also, stick with the recall and avoid any other ideas because they will only delay everything further. Do you have anyone in Brazil that could go to the bank for you? The name problem seems genuine and would, in fact, cause the problem you mention, so I just think it´s a lack of effort of the company that is causing this new delay.

      • richard says:

        Hi Cipriana, Thanks for the reply and info! Unfortunately, there’s nobody that can go to the bank for us other than the company. We call and email the company multiple times every business day, so I feel we’ve been assertive at demanding a quick resolution. However, we probably haven’t been as insistent as we should on recalling the funds. So, tomorrow my plan is to insist that they immediately refund the wires and reassure them that I will resend the funds as a single wire soon as the funds are returned. Thanks again for you help and for your blog!!

  20. Heidi says:

    My sister and I are in Brazil on a tourist visa and now we’re running outta cash, my sister’s husband sent us some $$$ via western union bank but there is no way to get the money!!!!
    We just came back from Caixa they don’t even know how it works or what is WUB

    Is there any way we can transfer some money from the US to São Paulo ?????
    Plz help we are left with no freaking money

    • Cipriana says:

      You have to use the number issued when they sent the money via wu and go to banco do brasil, the only bank that uses wu. Take your docs and name of the sender.

  21. Mark says:

    Hi Cipriana,

    My name is Mark. I’m from London UK but my partner is a brazilian citizen and he is with business in Brazil right now. We need to move money from Brazil to UK, the amount vary (from 10,000BRL to 20,000BRL or maybe higher). Can we do it by wire transfer? Can we transfer the money from his brazilian account to my british account in UK? What documents, paper or information does he need to provide to the brazilian bank when he is making the transfer?
    You said that if you transfer less then 10,000BRL at a time the money transfer will go much smoothly and the brazilian bank will not ask you to prove the relationship between the sender and receiver or extra documents like contracts and agreements and invoices? All you need for the transfer to take place is the name and address of the sender and the account details right? Also can he make the transfer online? Or he needs to go to the bank in person? If you can respond to my questions will be much appreciated!
    Thank you for your time!

    • Cipriana says:

      Hi Mark. Yes, in my experience, up to 5000 USD runs smoothly but only if you say it´s for “manutenção no exterior” (sending money to someone you know that is living in the UK), otherwise you will be asked to show contracts, etc. Even when sending 5000 USD they might ask you for documents or an exchange agreement (you print it, sign and hand it in at your bank). Yes, you can do it online if you have an account in a Brazilian bank. When you finish the transaction, all the requirements are listed. They also provide an email address. It´s a good idea to write to that address, say you just completed a transfer and ask if they need anything to clear it. In my case, they asked for the IBAN although there was not field for that in the transfer form. Communicate with your bank and all goes quite well. I know there are other options for sending money, but I always prefer the less hassle method for over 2000 USD, which is a bank-to-bank wire transfer. Good luck.

  22. Have you ever thought about including a little bit more than just your articles?
    I mean, what you say is fundamental and everything.
    But think of if you added some great pictures or videos to give
    your posts more, “pop”! Your content is excellent but with images and clips, this site could definitely be one of the best in its field.
    Wonderful blog!

    • Cipriana says:

      Thanks for the tip. Yes, I have thought about it but I don´t like putting third party stuff because of copyright and all that. If I put images and clips, they would have to be mine and I hardly leave my office :( I know it would make a huge difference, but that is basically why I haven´t done that, yet. I´ll make an effort.

  23. Dwayne says:


    What all information and documents required for making a wire transfer to other country from Brazil ? What all we details are required of the money receiver.

    • Cipriana says:

      All the info is in the post. It all depends on how much you are sending, but you need IBAN/SWIFT (depending on the country), receivers name and address, bank details and that´s about it. The money receiver has to get the receipt number or money order number.

  24. Does your website have a contact page? I’m having problems locating it but, I’d
    like to shoot you an email. I’ve got some recommendations for your blog you
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  25. david says:

    I am an american with a residence visa to Brazil, I am not married to a Brazilian and I don’t speak much Portuguese. I have a Brazilian bank account at Citibank. I want to transfer a large amount from the USA to Brazil to purchase real estate. I am told that I will be charged some sort of tax, apart from all the wire transfer fees, something ridiculous like 4 percent ! Is this true ? Is there anyway to avoid this ? I am going to transfer $300.000 USD, over $R700.000

    • Fernando Moreno says:

      Prezado David, a informação que vc obteve não é correta. Você pode ser investidor estrangeiro no Brasil de 02 formas, constituir uma empresa e trazer o capital e integralizando-o no Banco Central do Brasil e sendo investidor direto exatamente como você descreve. Se vc tem visto de residencia, tem conta aberta do Citibank, basta trazer a grana como transferencia de Patrimônio transitando sua conta nos EUA diretametne para o Brasil. Você precisa mostrar a Origem deste dinheiro, ou seja, sua declaração de Imposto de Renda dos EUA e extrato de Investimento do seu Banco. Com estes comprovantes vc já pode fechar a Operação de câmbio. Os Bancos no Brasil, colocam empecílios para fechar determinadas operações, (papeladas).

      • david says:

        Can you reply in English ? I am not an investor. The money would be used for a real estate purchase, a home in which I will live, not something I expect to produce income.

        What is “02 formas” ?

        What documents will suffice to prove that I paid tax on the money ? If I show US federal tax returns with after tax income totaling more than the amount I am transferring, will this suffice ?

        • Cipriana says:

          The longer comment was not written by me. The replier always comments in Portuguese. Let´s see if he replies in English for you. If I were you, I would ask all these questions to the Citibank manager. They have always helped me. Proof of tax is your income statement, and yes, it should suffice as most banks do not ask for translated documents. They only need to have all the documents available in case the Central Bank asks for them. 02 formas is two ways, he is listing two ways in which you can transfer money into Brazil, through a company and and integrated capital. Regardless, I insist you ask your Brazilian bank manager because purchasing property in Brazil is very common. If you have a permanent visa and a CPF you will not need much to transfer for purchasing your own home.

          • david says:

            I have a residence visa now, and I will open the citibank account soon. I have a CPF.

            But I will not have a residence visa when I plan to transfer the money and purchase the property. I am here on a diplomatic visa. I will depart Brazil at the end of this year.

            I am assuming that my CPF will not go away after I leave Brazil, that it will always be reserved for me. I am told by Citibank that I will be able to keep my bank account after I depart Brazil. Will I run into problems if I try to transfer the money (let’s say in 2017) and I don’t have a residence visa at that time ?

            • Cipriana says:

              You have a resident visa but will not have one when you transfer? I didn´t understand.
              I checked and rechecked lots of real estate websites that give advice on purchasing real estate from outside of Brazil and they all state that as long as you have the property deed or “contrato de compra e venda” and a valid passport and CPF (which is always the same number and will not expire), you can and should transfer directly from your account overseas to the sellers account in Brazil. There are, of course, other ways to do this, such as taking out the money and paying in cash, which seems more complicated. Have you considered getting legal help? There are lawyers who specialize in the entire process and can help with the purchase documents, too. You do not need to have a permanent visa to buy property but buying does not give you the automatic right to reside in Brazil. You will have to deal with that when the time comes. Most people complain because they don´t get the right help and that is soooo necessary in Brazil because of the red tape and bad or lack of information. The problem is that there is a lot of tax evasion and property deeds have prices that are far lower than the selling price, so people prefer to transfer, withdraw and then pay for property. If that is not an issue, a direct transfer with the right documents to prove the purchase should be enough, and get a lawyer that specializes in this sort of transaction. It´s worth it.

            • Fernando Moreno says:

              David which means 02 ways: you can be a foreign investor ( you already said that it will not be ) and the other is to bring the capital to a particular purpose , which in your case is to purchase a home . In Brazil you can close a foreign exchange transaction , you need to have an account in a bank in Brazil to settle the trading of currencies and deposit Reals ( Brazilian currency ) account you already said you have an account with Citibank . I wonder how is the situation in Brazil this account because you are not a resident and the Bank may place obstacles to close this shipment rates and you may need to take back to the U.S. this shipment . A quick and easy way is to elect someone with possessions to be able to represent you in Brazil , usually an attorney , who can receive the rates for you and also help you with the payment of the purchase of the house . The transfer mode of equity from one country to another is simple to make , because it is from you to yourself! I’d rather you talk to your manager at Citibank pair whether he can receive this order for you. I forgot to tell you that the tax of 4 % you said in the first post is not true , for this exchange transaction is charged only 0.38 % of the IOF operation rates . I used the google translator to send you this text in English. My English is still very basic .

              • Cipriana says:

                Fernando, sempre apago qualquer dado de contato ou convite para contato nos comentários. Já tive más experiências e optei por não permitir dados de empresas/pessoais e qualquer tipo de marketing no blog. Espero que entenda e continue oferecendo seus conselhos.

              • david says:

                I’m aware of the 0.38% fee, but I’m pretty certain the 4% tax is real. I know at least one US citizen individual who transferred the money from the US and wound up paying it. Like I said before, there aren’t many US citizens posting on this blog and I think this tax is specific to the USA because there is no tax treaty between the US and Brazil.

                • Cipriana says:

                  The 0.38% is tax, transferred to the government, not a fee. Banks might charge a transaction fee for transferring the funds. That´s why it is so important to contact your bank manager also.

            • Fernando Moreno says:

              David, why do not you come to Brazil, buy property, open registration because the seller has no cost, and the return to the U.S., u sends the rates directly to him and closes the transaction with the agreement of purchase and sale that you have signed (the contract of purchase and sale)! Simple, easy and fast!.

    • Cipriana says:

      Who gave you this information? What is the tax called? There is only IOF as far as I know, which is no where near 4%. You should contact your citibank manager, or the citibank cambio department. They are usually very helpful and will help the transfer run smoothly. Keep us posted.

      • david says:

        I’ve already spoken to 3-4 americans who complained about this. One is a business owner, who was advised by his lawyers to route the money through the Cayman Islands and document that it was a loan from his personal account in the US to his business in Rio. Another was an individual looking to buy property who wound up taking a hundred thousand dollars out of ATMs over a six month period.

        So far, I’ve only heard rumors and no one has been able to give me solid information.

        My contact at the US Consulate tells me that there is no tax-treaty between the US and Brazil. It could be that US dollar transfers from the USA into Brazil are penalized because of this. The posters on this blog are mostly from countries other than the USA. I am not seeing any Americans posting here who talk about transferring large amounts of money, only amounts under $10,000USD. So this tax might exist

        It could exist and it might be avoided by routing the money through another country. I am able to route through my bank accounts in Thailand, so that might be a possibility.

  26. Samuel says:

    Boa tarde, pessoal.

    Alguém saberia me dizer se, para eu solicitar uma remessa do exterior via Caixa Econômica Federal, é obrigatório enviar o dinheiro para algum banco correspondente no exterior (que consta no site deles) ou posso solicitar o envio diretamente à Caixa aqui no Brasil?

    No caso, seria o envio de dólares americanos, referente a operações no mercado de capitais lá fora. A corretora em questão não faz depósito em conta de terceiros, logo, não haveria como utilizar o banco correspondente da Caixa.

    Alguém já fez esse envio de dinheiro diretamente para Caixa, sem terceiros? É tranquilo?

    Muito obrigado!

    • Cipriana says:

      De acordo com minha experiência, pode ser diretamente. Tem que ter todos os dados da conta para remessas. O que não entendi é a parte de “solicitar o envio”. Vá até sua agência e pergunte ao gerente quais dados precisa para receber uma remessa diretamente em sua conta. Não recebem remessas em nome de terceiros então tem que ser sua conta mesmo.

    • Samuel, os Bancos Brasileiros podem enviar remessas ao Exterior SIM,, para qualquer Banco, basta que informar os dados do Banco destinatário, a Caixa Ecômica é um pouco burocrática mas é um Banco e tem este serviço SIM, basta procurar o seu gerente e falar que vc quer enviar uma remessa ao exterior. Importante , é necessário saber ” a que ” se destina esta Ordem e ter os documentos respaldam esta Operação. Se o destino for comprar Ações e Papéis de Empresas Americanas, vc poderá comprar qui mesmo no Brasil, na Bovespa, as ADR’s, agora se for operar outros mercados, importante ter conta no Banco do País que vc deseja investir. Após envio dos Dólares, fechar a Operação com o seu gerente no outro País. Ao enviar câmbio para terceiros, nem sempre é possível, mas sempre vc precisará demostrar a Origem e a que se destina, é possível. Estou a disposição caso precise.

    • Fernando Moreno says:

      Samuel eu sou um correspondente Caixa Economica e minha empresa tambem presta serviços de assessoria em cambio, que é a principal atividade. Você pode fechar uma remessa de câmbio na CEF diretamente com seu gerente mas o grande problema é que a CEF é bastante exigente com a documentação para respaldar a operação. Ela faz, sim.. ela faz ! Você tem outras alternativas para envio da remessa, basta abrir cadastro em Bancos de câmbio ou corretoras especializadas em câmbio. Com o cadastro pronto, vc prepara a documentação para justificar origem e destino e envia a remessa. Compra os Papéis que desejar no Pais que vc pretende investir. Sobre depositar em contas de terceiros, nunca fala isso ! Se for comprar papéis, veja quem é o custodiante , normalmente é um Banco e faça a remessa de câmbio para o próprio. Fale com o gestor responsável pela operação dos Investimentos que vc quer adquirir lá fora. Estou a disposição, caso precise..

  27. Lu says:

    Does anybody have any experience using Western Union Online FX (for values higher than U$3k)? I’m having some trouble understanding the recipient’s bark details form.

    • orionstar21 says:

      I used these to transfer about 70keur from Ireland to Caixia, absolutely no problem. I aslo setup internet banking with Caixia. My misses is Brazilian so its all in her name, I know what your thinking but we have 2 kids and if the banks go bust in Europe I’d prefer to be screwed over by the mother of my kids who will use the money for their benefit rather than some banker….

  28. william says:

    there is routing number / ABA in Brazil? How would it be?

    • Cipriana says:

      ABA is only used in US banks. In Brazil banks use SWIFT and/or now, lately, IBAN.

      • Jeffry says:

        Hi am jeffry from Brazil working in North African Nigerian, my miss is in Brazil, she trying to sending me money but all her effort was abortive by via money gram or western union.. Pls help me out

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