subject: Do Some Research Before You Send Money Online to Brazil [print this page] Do Some Research Before You Send Money Online to Brazil
Since 1994, Brazil's currency has been the Real, and currently, $1 USD is equal to about 1.957 Reais, which is the plural form of Real. Typically, few Brazilians see foreign money, as even traveler's checks have to be changed to Reais before anyone, including visitors, can spend the money. Unlike some countries, Brazilians are not allowed to have bank accounts that use the U.S. dollar. If you do more than send money online to Brazil, such as visit, you will find that Casas de Cambio, where you can exchange money, exist all over the country. Thus, any money you send will immediately be changed to Reais, and sending cash in the U.S. dollar is definitely out of the question.
One popular option is wiring money using a bank or transfer service. However, pay attention to costs when you send money online to Brazil, as some banks and transfer companies charge much more than others. Services like Ria Envia, Trans-fast, Vigo, and Viamericas all charge anywhere from $5 to $15 per transfer, which is considered a good price.
On the other hand, if you send money to Bank of America which is partnered with Brazil's Banco Bradesco, the fee is about $45 per transfer. HSBC charges $30 to send to another location in Brazil, and $45 to send to another bank entirely. Despite the higher costs, some people just find it easier to transfer through a bank instead of a service because it is often convenient and feels more secure if you are familiar with the bank. However, if you plan to send money online to Brazil often, clearly this method could get expensive.
If the person you are buying from does not mind, you could send them a prepaid debit card. Whether you buy from them once or several times, you can send them the card and then add money online. Most large cities, like Rio de Janeiro, have stores that will accept credit and debit cards for purchases. However, many smaller cities or stores that don't want to pay for debit card machines will not accept them. For this reason, it is convenient that your recipient can also get cash out with a prepaid debit card for a small fee of under $5 USD.
When you transfer money to any country, it is best to find out a little about the financial situation there. Knowing the currency, exchange rate, credit card fees, and rates to send money online to Brazil whether through a bank, service, or prepaid debit card, is useful. Your recipient will appreciate you keeping their country's rules and regulations regarding money in mind.
welcome to Insurances.net (https://www.insurances.net)
