Transferwise....Experiences and Fee's & Exchange Rate USD to Real

Has anybody recently used the " Transferwise" service to Brasil from the USA. ...

Just the Facts...no SWAG'$.....

Thanks in advance, all info appreciated!

And how did the service work for You?...

Grizz,

I used them last year, and I think they're great:  they're fast, their rate is good, and their all-in fee is reasonable.
After you cross a certain total dollar threshhold with them, though, you have to provide your SSN for US Treasury reporting purposes.   That's when I stopped using them.  I'm sure that they have good security, but I don't want my SSN sitting anywhere it doesn't have to be.

Thanks AB3, good information. .I am thinking of a amount that should not be SSN involved....

Case Closed...lol.

..cauz you know I can get a ruckus going on...lol

I have used TransferWise for the past 3 years to build a house in Bahia. It has been absolutely amazing. I highly recommend it.

knedelisky :

I have used TransferWise for the past 3 years to build a house in Bahia. It has been absolutely amazing. I highly recommend it.

Hey!  Long time, no see!  How's the housebuilding going?

knedelisky :

I have used TransferWise for the past 3 years to build a house in Bahia. It has been absolutely amazing. I highly recommend it.

What area are you near and have you had to give TW your SSN. ..

Is the SSN Required over a certain amount transferred

I am in Bahia also....area Petrolina /Juazerio

The only thing I have heard was they were a company in Eastern Europe. This is what I heard and for me that a bit of a red flag. There are many people who have used them with success. I haven’t used them

They're not really in Eastern Europe.   I believe that they're based in the UK.  The founders are Estonian, however, and Estonia is under constant cyberattack from Russia.  This did influence my decision not to store my SSN with rhem.

Hi, and thank you for asking.  We have finally moved into the new house and it is great!!  Still more to do on the landscaping...but there is time (especially in Bahia!)

Hi, I am in Lencois, Chapada Diamantina.  I have used the TransferWise both from Lencois and from US.  I don't recall if I had to enter a SSN when I originally signed up.  But, I have never had to enter one for all of the transactions I have made.  I only need to enter the CPF of the recipient.  Every single transfer I made was quick and easy (and I have made a few hundred by now).

knedelisky :

Hi, and thank you for asking.  We have finally moved into the new house and it is great!!  Still more to do on the landscaping...but there is time (especially in Bahia!)

That's wonderful- congratulations!  :up:

I want to send the Money to me.....so if I use the service I just put in my C P F.....

Works great. Shows rate of exchange for that day. And any fees so you know in advance. You can cancel the transaction if you don’t approve. Fees are flat and no exchange fee is charged

Ive used them twice without issue, sending money from California to Bahia. Will use again.

Me personally ive used worldremit , between sending to accounts, or just topping up my TIM service, been almost instant as far as transfers go

Mikeflanagan :

Me personally ive used worldremit , between sending to accounts, or just topping up my TIM service, been almost instant as far as transfers go

Can you be a little more detailed and specific as to charges for service, is this service for accounts here in Brasil...
Worldremit..com ????

yea they listed on the site. and the charges are less than a bank. you just need to factor in your taxation of money once it hits brazil ( banking fees in brazil ) website you listed has all the info on it as far as rates have. my rates are different as its CAD > BR

Hi,

I've used Transferwise many times, the rates are very good and their fees are transparent, delivery times are also very fast. The amount you can send per month is capped at around 30k reais per month without having to show any documents.

however, I would be interested in hearing about your experiences with worldremit to make a comparison.

Thanks,

Ikexplorer

I've just done a quick comparison (21/10/19) (although I send money from the UK, I believe this will be the same if you send money from the US)


Example:

Transferwise

Sending £1,000 (includes transfer fee)
Transfer fee: £13.04
Guaranteed Rate: 5.37
Recipient gets: 5,303.86 reais

Worldremit

Sending £1002.99 (Transfer fee is added on to the amount)
Transfer fee: £2.99
Recipient gets: 5,24215

Based on these figures Transferwise offers much better rates even with Worldremits promotional offer of no transfer fees for the first 3 transfers for new customers (This is just my opinion)

Ikexplorer :

I've just done a quick comparison (21/10/19) (although I send money from the UK, I believe this will be the same if you send money from the US)


Example:

Transferwise

Sending £1,000 (includes transfer fee)
Transfer fee: £13.04
Guaranteed Rate: 5.37
Recipient gets: 5,303.86 reais

Worldremit

Sending £1002.99 (Transfer fee is added on to the amount)
Transfer fee: £2.99
Recipient gets: 5,24215

Based on these figures Transferwise offers much better rates even with Worldremits promotional offer of no transfer fees for the first 3 transfers for new customers (This is just my opinion)

Thanks you helped with all of the questions...I use US currency...

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