Best service for international transfers from US to Brazil

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mikehunter Serial expat

Member since 19 August 2021

mikehunterSerial expat18 June 2023 14:39:26

353

Personally, I use Wise. I like the fact that they use the current mid-market rate and they show you all their fees and then calculate the effective rate. It's all very transparent.

Other services just give you the effective rate, so their fees are more or less hidden.

TLDR: What I found was that Wise was the clear winner. Wise is the most transparent and provided instant transfers for the lowest price. Remitly was very slightly less expensive, but only if you used 3 day transfer. Even so, the amount you save by using the 3-day method was negligible.

Here is what I found for a transfer of $1000 today (June 18th, 2023) @ 10:00 a.m EST:

Wise:

Mid Market Rate: 4.82215

Fees: $13.59

Effective Rate: 4.75662

Remitly:

Fees Instant: 4.99

Fees 3Day: 1.99

Instant Transfer Rate: 4.71

3 Day Transfer rate: 4.76

XE:

Effective Transfer Rate: 4.73980

Zoom (Paypal):

Effective Transfer Rate: 4.6228

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