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Transferring money from Brasil to US

Transferring money from Brasil to US

Old Feb 25, 17, 2:08 pm
  #1  
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Join Date: Oct 2015
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Transferring money from Brasil to US

I have moved back to the US and I have a good chunk of reais sitting in an account at Itau. They want to charge an arm and a leg (on the order of 7%) to convert and wire to my bank in US. It's highway robbery. Has anyone here moved non-trivial amounts of cash back to the US and not been robbed? I would like to do it in one transfer only so these apps that allow max 30k reais per month or whatever aren't a viable solution since I want to take advantage of BRL ~3.05. Feel free to pm me for privacy. Thanks in advance.
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Old Feb 28, 17, 5:02 am
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Have you looked at transferwise?
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Old Feb 28, 17, 12:51 pm
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Yes, max 25k reais per year.
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Old Mar 1, 17, 1:31 am
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Join Date: May 2009
Location: Rio de Janeiro
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I think that Remessa Online is an alternative, considering that you can seek approval for a higher limit:

https://www.remessaonline.com.br/
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Old Mar 1, 17, 4:26 am
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Wow, thanks that looks like a really good possibility! Have you used it or know anyone who has? I'm going to have to do some due diligence on it.
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Old Mar 1, 17, 7:41 am
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Join Date: May 2009
Location: Rio de Janeiro
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Originally Posted by Esmjb View Post
Wow, thanks that looks like a really good possibility! Have you used it or know anyone who has? I'm going to have to do some due diligence on it.
Well, they have been featured in several trusted media outlets.

Considering that the spread they practice has a threshold at 1.6%, you can test their services using the minimum amount. It won't cost you extra.

Though if you have a really high amount, I guess you could contact them directly to see if a lower spread is possible.
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Old Mar 1, 17, 6:14 pm
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we use transferwise, we do the max per month from Itau, we lose some on the transfer, but it's not terrible.
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Old Mar 4, 17, 5:29 am
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Many options are discussed on this site: http://www.moneysavingexpert.com/ban...rency-exchange
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Old May 18, 17, 12:41 pm
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I'm here to report I went with remessaonline.com.br and it is awesome. I made 3 small transfers at first of 3k each just to test it out. The spread they charge depends on the amount you send but at worst it is 2.something % and at best it is 1.6% and my 3k transfers qualified for that rate. So with brl at 3.1 yesterday I converted at 3.155 all in (including IOF) and my money will arrive tomorrow. I found nobody better or even equal to those rates. Transferwise is slightly more expensive but also good. I would say if you use anyone else besides these two you are throwing money away.

Unfortunately I just started the process to get my 10k/month limit raised yesterday and it takes a week so I'm getting blown out by today's move and will end up just leaving my cash there for another few months at least. So anyone out there who is going to need to transfer money at some point in the future I recommend getting everything set up now so when the time comes you can make it happen.
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