Ferneyvoltaire
From: France
2/27/2012 23:21 EST
I know the usual direction is transferring funds from USA to Brazil but my wife and I now are doing the reverse. We use Bradesco and they just increased their charges from $80 to $180. It was ridiculous and now it's outrageous. Does anyone have any experience with other banks (foreign or domestic) where the charges are a lot less for funds going to the USA? Thanks in advance.
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sambamaster
2/29/2012 05:07 EST
How about openning a paypal account on both sides? I think the charge is around 3-4 percent on international transfers.
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Ferneyvoltaire
From: France
2/29/2012 10:59 EST
Thanks for the idea but how does one get the money to PayPal on the sending end and how does one get the money from PayPal on the receiving end?
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Ferneyvoltaire
From: France
2/29/2012 11:00 EST
Thanks for the idea but how does one get the money to PayPal on the sending end and how does one get the money from PayPal on the receiving end?
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Ferneyvoltaire
From: France
2/29/2012 12:49 EST
Sorry for the repeat in the response. I got an error message saying the post could not be sent but it was sent anyway. I checked with PayPal. They do not do funds transfers from Brazil. I also checked with Western Union and their agent in Brazil is the Banco do Brazil. It looks like the Banco do Brazil has a lock on this market to ensure they get their percentage. All banks have to send their funds transfers via Banco do Brazil.
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youareglobal
3/10/2012 14:36 EST
I use citibank to do that. For cash sending to USA, It costs USD 32 for amounts up to USD 25.000; when the sending is over USD 25.000, there is no charge. Hope this helps you.
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papazcol
3/11/2012 08:25 EST
Right, I'm waiting to get confirmation from Citibank Brazil to get my account open so I can transfer my money from Citibank USA. Be careful!! I noticed here in Belo Horizonte that withdrawing from Citi ATMs costs me $2 per transaction (+ 3% of the transaction) because the ATMs here are not considered to be from Citibank, they belong to another company....
On top of that I wanted to mention also all the bureaucratic procedures to open an account here as estrangeiro, Bradesco, Caixa, Santander and Itau don't take my provisional Brazilian ID, they said they could help me asking me for a bunch of other papers that don't make sense. I've been working with an agency of Citibank here two weeks already but seems they are helping. cheers
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parkthomas
3/13/2012 13:26 EST
I opened an account with Banco do Brasil because they are the agency that actually performs the change of currency in the country. The bank is half state owned and half private. They are painfully slow but I got basically the market rate and no fee for Euros and US dollars coming into Brazil. I did have to pay a tax but that is levied on all incoming funds regardless. Going out I am not sure of taxes but the cost of the transfer with BdB should be the same as for incoming - less than 1% in my case.
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Ferneyvoltaire
From: France
3/15/2012 07:20 EST
I read that the Brazilian government has extended their 6% tax on incoming funds to stem the demand for Reais. It is over valued in the international market making exports difficult. For the outgoing, the tax is 0.38% on the funds we transfer now plus the bank charge which for Bradesco is $180. USD. Outrageous.
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Ferneyvoltaire
From: France
3/15/2012 07:29 EST
I used to work for Citibank in the US but always went to SP on business as the HQ is there. I never saw the branches in Rio. How many branches are there and where are they?
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bugre
12/11/2012 15:17 EST
Paypal sucks. The rates are high and the charge an exchange rate.
Best Use western Union direct, not via bradesco or BB.
$44 transfer fee for around 2K. Its high compared to rates in the US but is the lowest,
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skateboardstephen
12/12/2012 09:58 EST
LOOK forget about all of this advise i am in Brazil right now.Use pre-paid debit cards and have the person on the sending end load the card in the U.S. usually at a check cashing location or they could do it online.You get the money right at that minunte and the fee is cheap only $R12 withdraw from a banco 24 horas Atm. To send money to the U.S. you can get a caixa loteríca account with a debit card that you can load up with money.You only need $R100 real to open an account with them.Send money through Atmcash.com
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jackielouuy
5/13/2013 16:37 EST
hi! i started working in sao paulo on april and had been trying to make a fund transfer. i got an itau bank account and it's taking them forever to allow international fund transfer on my account.
which western union did you go to?
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aneill
From: Brazil
5/14/2013 07:53 EST
Hi there!
Do you remember that famous line, "Hi, I'm from the bank, I'm here to help you!"
I really try to stay as far away from the banks as possible.
When my pensions are transferred into my account in North America, I withdraw as fast as possible so there is no money left in the account.
I have a safe in my apartment and I keep all my cash there.
That way, if your card gets cloned, which happens a lot here, you won't lose anything.
If this is a business transaction, you can use a system called Xoom! Google it.
It works very well for me...even better than Western Union and less expensive.,
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bpearl07
5/20/2013 05:08 EST
I am actually trying to transfer funds from the US to Brazil. It seems to me that we could transfer directly to one another and avoid the hassle. If you have an account in the US this could work. Let me know if you are interested and we can discuss it further.
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chefronny
6/15/2013 05:56 EST
There are now many Western Union agents in Brazil not linked to Banco do Brasil. Stay away from BB. Google for a location agent close to you. Many are in Shopping Malls within a Cambio Exchange storefront.
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aneill
From: Brazil
6/15/2013 13:59 EST
There is a system called Xoom which works extremely well for smaller amounts being transferred from the US to Brazil.
It's amazing how many transfer agents only want to deal with situations where one end is in the US.
They are all paranoid!
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Neen50
6/18/2013 14:35 EST
I would like to get in contact with you,about Citibank I lived in S.P as an expat for them
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aneill
From: Brazil
6/19/2013 20:16 EST
Hi there!
I don't know about Citi as the best bank in my opinion for that kind of thing is HSBC.
There are other ways to transfer.
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jshurskis
7/24/2013 16:46 EST
You can also look into HSBC. Not sure what your intention is but if you need to give money to someone in the US they can take it out with a bank card (even a Brazilian one) and all that should be charged is the 4% banking transactions... Hope this helps.
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Ferneyvoltaire
From: France
10/23/2013 11:58 EST
We ended up using Banco do Brasil because it's my wife's 91 year old mother sending the money and the BoB office is near her apt in Leblon. The money goes to La Poste in France where I pick it up using the funds transfer code from Western Union and then carry the cash to our bank which, fortunately close by the post office. They do charge 149 reais for this transfer which is onerous and it takes them 3 days to produce the Western Union code. Talk about decrepit banking practice. The HSBC office is too far for my mother-in-law to walk.
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Ferneyvoltaire
From: France
10/23/2013 12:02 EST
As far as I know, Western Union does not have offices in Brazil. Their exclusive partner in Brazil is Banco do Brazil as La Poste is their exclusive partner in France.
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aneill
From: Brazil
10/23/2013 12:37 EST
Hi there!
In my area of Fortaleza, Meireles, or Aldeota, there are several Western Union offices, housed in Cambois, but you can also go to Banco do Brasil because they are the bank partner for WU.
I have used them several times between Brazil and either the US or Canada and it works, but it's not cheap.
There is an American system called Xoom that I use between Brazil and the US when transferring from the United States to Brazil...works well...email if you want more info...andy@andyneill.com.
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crossken
11/19/2013 18:19 EST
We use HSBC. we accts in both the USA and Brazil. It only cost $1 with a premier acct to I think it is the same cost going the exchng dollars to reis the way too. But we haven't tried that yet
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Ferneyvoltaire
From: France
7/4/2014 05:25 EST
Ken, about 2 years ago I spoke to a women banker at HSBC in Rio by the name of Patricia Luchi. She said they had a free funds transfer service for Prsmium accounts which have a certain amont of deposits monthly or maintain a certain level of balance. I don't remember the numbers but the transfers must be made from one HSBC office in the sending country to another in the receiving country. Ms. Luchi speaks perfect English. She is in a Rio office. I think it's the one at Lago Carioca. FREE is a good price.
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Ferneyvoltaire
From: France
7/4/2014 05:25 EST
Ken, about 2 years ago I spoke to a women banker at HSBC in Rio by the name of Patricia Luchi. She said they had a free funds transfer service for Prsmium accounts which have a certain amont of deposits monthly or maintain a certain level of balance. I don't remember the numbers but the transfers must be made from one HSBC office in the sending country to another in the receiving country. Ms. Luchi speaks perfect English. She is in a Rio office. I think it's the one at Lago Carioca. FREE is a good price.
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americanmengao
2/23/2015 07:38 EST
I have lived in Brazil for several years and bank with HSBC. If you are a "Premier" customer, (which requires proof of a monthly min. income or large initial deposit, regardless of what country you open your account in), you can transfer funds between your international accounts using "Global Transfer". The limit for this free and almost instantaneous service, is USD$15,000/mo. with individual transfer limits of USD$3,000 per transfer.
Hope that helps...
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Ferneyvoltaire
From: France
10/8/2015 05:18 EST
Now that HSBC has been acquired by Bradesco, I assume this wonderful service is no longer available. We have an HSBC office in centre ville Orleans where we live in France.
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heg111
11/6/2015 18:40 EST
Use CitiBank with your ATM card. They charge $R19.99 for the transfer and my card Wells Fargo allows me $1,000. USD per day. Now almost $R4.000,00
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