There are many ways to transfer money from the US to Brazil. One of the simplest 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 repeatedly processed at a faster rate and with little or no extra cost. Bank transfers between two differing banks are also relatively easy; however, sending money from one bank to another can involve a waiting phase of up to 5 work days with considerably higher processing charges.
Fees can be very high for international wire transfers. If, though, the money needs to arrive fast, this is the greatest feasible option.
Other than the bank transfer, another way to send funds to Brazil is through the ATM 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 money; but for those who may often send money to family in Brazil, the ATM debit card is a terrific option.
Upon activation, sending a debit card with the PLUS or CIRRUS logo on the back will guarantee that money can be withdrawn from a gigantic and far-reaching network of ATMS located throughout Brazil and all over the globe. If choosing to use an ATM card, you need to be sure that the cardholder is not accessing money without prior authorization, for these are not pre-paid and hold no definite limit.
A pre-paid debit card is loaded with a predetermined 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 well-liked way to send funds abroad. This method moves the money quickly and the fees are relatively low, however, the receiver must have a banking history in Brazil in order to access the money.
One advantage of sending money this way is that the funds 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 recipient does wish to turn these electronic funds into cash, it is more difficult than with other proven methods, due to processing guidelines.
With any 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, money can be sent quicker than ever.
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