Business

How to transfer money to and from Brazil

money transfer international

Unlike South American counterparts such as Argentina and Ecuador, where U.S. Dollars are readily accepted, Brazil is quite closed as far as financial transactions are concerned. Only Brazilian Reais (BRL) are accepted countrywide, meaning that currency exchanges may pose somewhat of a challenge for the uninitiated. With a view to helping foreigners navigate Brazil’s banking system, the Central Bank provided a series of materials explaining the essentials on how to open a bank account and how to send money to and from Brazil. Here are some of the main topics.

Bringing money into Brazil

According to the Central Bank,...

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