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Top 3 Money Transfer Providers for UK to Brazil

Provider Amount Received Fee Exchange Rate Speed
Moneycorp Moneycorp BRL R$65,165.43 No Fee 6.5165 1-3 days more...
Western Union Business Solutions Western Union Business Solutions BRL R$65,284.73 No Fee 6.5285 1-3 days more...
Currency Solutions Currency Solutions BRL R$65,742.05 No Fee 6.5742 1-3 days more...
FXcompared Country Guides
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UK
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
BRAZIL
Sending money to Brazil is not restricted and can be easily done Read More
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Top 4 Money Transfer Providers

Latest prices for transferring money from UK to Brazil
Exchange Rates as of 3 July 2020, 19:10

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
BRL R$65,165.43
GBP £135.32
saved vs. banks

Western Union Business Solutions

Est. 2009

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.

More InfoLess Info
Amount Received
BRL R$65,284.73
GBP £153.32
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

More InfoLess Info
Amount Received
BRL R$65,742.05
GBP £222.32
saved vs. banks

Rates From The Average UK High Street Bank

Est. 1934

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info
Amount Received
BRL R$64,097.04
No saving vs. banks

How to Transfer Money from UK to Brazil

What is in this guide

UK to Brazil Guide

Summary

Over the past decade, overseas investment in Brazil has grown considerably. Investor interest in Brazil remains healthy, although it has eased as GDP growth slowed in recent years. Nonetheless, the country still attracted around US$60bn in foreign direct investment (FDI) in 2014, supporting robust flows of money transfer to Brazil. When looking to send money to Brazil, whether you are importing from or investing in the country, there are many options available. With no restrictions on capital outflows on the UK side, it is very easy to transfer money to from the UK, much easier, in fact than it is to send money out of Brazil.

Buying property in Brazil

Only foreigners with both permanent residence status and an established urban residence are permitted to buy rural property. For foreign corporations that meet the residence criteria and wish to purchase large tracts of land, the restrictions are particularly tight. The acquirer must justify the size of the plot relative to the size of the project; provide a schedule of works and financing; detail the logistical feasibility of the projects implementation; and demonstrate compliance with the criteria for Ecological and Economic Zoning of Brazil (ZEE13), which determines which crops are best suited economically and environmentally to each area of the country.

With the number of expats moving to Brazil on the rise, and the country having enjoyed impressive growth in both GDP and income per capita, the number of foreigners buying property has grown, whether for personal occupancy, vacation, or investment. There are no restrictions on foreigners buying property, all property sales are titled, and foreign investors enjoy the same investment and possession rights as Brazilians. No local partner is needed to buy land, but there are restrictions in some areas, particularly regarding rural land. For private property purchases, at present, only foreign investors with a permanent visa can get a mortgage from a domestic bank. As such, it is necessary to borrow abroad and transfer money to Brazil from UK to finance this.

Investing in Brazil

Foreign capital can easily be brought into Brazil without the need for prior approval by the government and with no limit on the amount. Some sectors are closed to foreign investment, however, namely nuclear energy, healthcare, mail and telegraph, and aerospace activities. Other sectors financial institutions, air transportation, media, and mining are restricted or have limits on the amount of foreign participation. Acquisition or rental of rural property may require authorization from the National Institute for Colonization and Agrarian Reform (INCRA) or, in the case of large purchases, the National Congress.


All money transfer to Brazil with respect to foreign capital inflows must be registered with Bacen within 30 days. Profits and dividends arising from unregistered investments are not permitted to be repatriated through the commercial foreign exchange market. Such funds can still be remitted, but the process is even harder. Registered and unregistered investment are subject to the same tax regime, however, with equity FDI exempt from all taxation. Intercompany loans to a Brazilian subsidiary from a non-Brazilian parent are liable for the federal Tax on Credit, Foreign Exchange, Bonds and Securities Transactions and in Insurance Operation, although this rate can be as low as 0%.


Foreign corporations may only conduct permanent activities in Brazil through a registered subsidiary, branch or permanent establishment. The process of company registration can be slow and complex, so seeking expert and bilingual legal and accounting advice is essential. For UK businesses, UKTI has offices at the British Embassy in Braslia, British Consulates-General in Recife, Rio de Janeiro and So Paulo and British Consulate in Porto Alegre, as well as a representative in Belo Horizonte.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from UK to Brazil. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.