I want to send money to Brazil, what are the solutions?

You are working/living in Brazil and you need to send money there? Or you are a Brazilian person based abroad? Here is the right place for you to discover what are the solutions to send money abroad, especially for the case of transferring money to Brazil. From Rio to Sao Paulo, we have the solutions covered in this article. The first question is not the easiest it’s about what kind of solutions exist on the market. The second is more about how to choose one of them.

What kind of solutions exist on the market to send money to Brazil?

I would say there are many different kind of operators able to transfer your money to Brazil. It depends on the country from which you send money. For example if you send money from India to Brazil it’s almost impossible because it’s almost impossible to send money from India (because of government’s regulations), However another example is sending money from Portugal to Brazil. This case is much more common as there are numerous Brazilian people in Portugal and many Portuguese are also currently living in Brazil.

So there are many needs and what about money transfer solutions?

The operators are different kinds: there are currency exchange brokers sending bigger amounts, banks sending all amounts for huge costs and online money transfer services sending small amounts. Those 3 categories are the one to look at even thought looking at your bank’s rates is just a loss of time because they have no idea how much it costs. The only thing banks know is that they are going to screw you. However your bank contact usually has no idea about this.

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How to choose the best operator to send money to Brazil?

It’s almost impossible to choose an operator to send money to Brazil because there are hundreds of services. All of them claim to have good rates but at the end the differences when you receive money are going to cost you a lot. I suggest to use comparison services to be sure which solution is the best one. Actually the problem is you can’t choose one solution and keep using it over time because this last solution is going to increase the fees it takes. No trust. Do not be screwed. Be ready to use a different operator each time you need to send money. It’s worth it.

There are 3 types of money transfer services to send money to Brazil: Banks, Brokers and online services (fintech). To choose among them you have to be ready to change every month if you are a regular sender because none of them is trustable. Use a comparison service. Hope it helps.

The best exchange rates to send money to India from Germany

Ich spreche Deutsch. Yes I speak German. Actually I’ve been living a few years in Germany and I had many opportunities to learn about the exchange rates from Germany to India (EUR-INR), especially because I needed to pay invoices and send money to India.

You too you need to send money to India. It’s not easy and here is why

Nothing is easy. Especially if we talk about money. Especially when there is a lot of money to be made. What is not easy about sending money in India is the fact that there are many solutions to transfer money from Germany. Around 50 big banks provide the service. 40 money transfer operators too. And 30 currency brokers, according to my findings. None of them is free and all of them are hiding fees inside the exchange rate. However if you take a look at their special deals there are ways to transfer money to India for less than 0.5% cost whereas it always cost at least 3.5% with banks. I would suggest to use online money transmitters because statistically they cost less. And also because money transmitters are not banks. They are safe but smaller. So they have to gain the trust of customers whereas banks’ interests in customers in only to take their money.

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There is a way to find the best exchange rates from Germany to India. It’s quite efficient.

We all know that you are not going to find the best exchange rates at your bank. Neither at another bank. Banks are way too expensive because they need to survive and take as much money as they can. On the other hand online money transfer services are specialized in sending small amounts and they are quite efficient to send money to India. And currency brokers are specialized in sending larger amounts. They are providing quite good rates to transfer money to India.

It’s difficult to send money to India. Even more from Germany because there are many solutions and those solutions tend to hide fees inside the exchange rate. We need some transparency in this market and we have to consume ethically and carefully so that hidden fees might disappear in the future.