USD vs. BRL History
The average funds transfer from USA to Brazil is one of the most recorded and hence popular transfers besides other common currencies like the JPY and the EUR. This is a clear indication that the remittance level is high, a true depiction of the fast rising need for money transfer either due to employers paying their employees or simply tokens sent to those on the subject state.
Historical data over a three month period analysis as from January 2019 to March 2019 saw an increase in remittance from 193 Million USD to 285.9 Million USD, recording a positive difference of 92.9 Million USD and still rising.
Transfer Money from US to Brazil
It is possible today to transfer funds from the US to Brazil with sheer ease and guarantee that your money will arrive at its destination safely, and on time. This is owed to the numerous money transfer agencies that offer reliable services entailing USD to BRL currency exchange.
This in itself is important in ensuring that various groups of people inclusive of immigrants, Brazilians conducting online work and operations for employers residing in the US as well as loved ones located in Brazil just to mention but a few are able to get their funds on time.
As mentioned earlier, there are numerous money transfer services that enable this type of transfer to happen. Nevertheless, the rate at which the services are offered in liaison with the quality of services rendered may leave you speechless as to how unreliable they are. It is thus prudent to ensure that you choose the best money transfer company. There is no better place to harness all the information you need than at Exchange Rate IQ.
Money Transfer Companies
The number of remittance companies that you can use to send money from USA to Brazil is indeed vast, thanks to modern technology. These companies are convenient and offer easy to follow procedures to ensure that the whole process is a success.
One thing to note however is that the company you choose is will solely be based on your taste and preference. This is because, contrary to the traditional banking system used, most people nowadays have shifted to the online system.
Are banks not enough? You may ask. The answer to this question is that the online money transfer system deployed by many money transfer companies has over the years proven to be credible enough to gain the trust of most individuals. Some of the most reliable options you have are:
1. ACH Transfers
The commonly known ACH, or rather Automated Clearing House transfer in full, is a renowned transfer network in the US. It is one of the many yet most reliable channel through which residents of the United States use to transfer money to outside states and countries, inclusive of Brazil. Offering both the electronic as well as bank to bank services, ACH guarantees a 2-3 days maximum clearance period before your recipient can gain access to his or her funds.
2. Post Office
The Post Office is one of the most traditional yet reliable means of transferring funds from USA to Brazil with the assurance that your money will reach its destination. This is in liaison with money transfer operators that make this possible.
3. Wire Transfers
We cannot talk about money exchange without mentioning wire transfers. This system is common in the US as it assists most people to send money to outside states through the aid of banks and money transfer agencies. It only takes 1 business day for this process to be effected. Good examples here can be Xoom, Transferwise and others.
What to consider when sending money from USA to Brazil.
Before sending money from USA to Brazil, you have to put some factors into consideration in order to ensure that the process is seamless. Some of these are:
What are the exchange rates from USD To BRL?
What are the service costs?
How long does it take for the money to be received?
What risks would I incur and how can I to deal with them?
Crucial updates on information such as some money transfer agencies charge fair rates when transferring large amounts of money than when dealing in small amounts, among others, can be easily found at Exchange Rate IQ. This will definitely help you in making an informative decision as to which company to choose and why.