Hi, I purchased property in Rio de Janeiro and I need to transfer R$220,000 into a Banco do brasil account. Any idea if there are any charges for incoming funds (from the part of Banco do Brasil)?
I used them about 6 months ago and although I don't remember how much I transferred, it was under £25K Sterling.Moneycorp are good but you have to send minimum 25K UK Sterling and as Robh says lots of paperwork.
Hi GrowlerI used them about 6 months ago and although I don't remember how much I transferred, it was under £25K Sterling.
My accountant said "Bank to Bank is the easiest way to send money here"........well, I sent a small amount that way at a lower rate and it took me 3 weeks and 4 visits to the Bank before I received the money.
With Moneycorp it was in my account within about a week.
To receive any sizeable amount of funds into Brazil, you have to prove to the bank what these funds are for - for example a legal contract to purchase a property.I use a firm called Torfx, the money gets to brasil no problems but that's when the hassle and delays kick in. I'm still waiting, nearly four weeks now, for the funds to clear into the builders account, this time the local bank manager wants proof of my contract with the developers, proof that he had last time when i had to pay R$280 to register the contract. There doesn't seem to be an easy way, if anyone finds one please let us all know.
Good solid advice.To receive any sizeable amount of funds into Brazil, you have to prove to the bank what these funds are for - for example a legal contract to purchase a property.
Never hand over original documents. Take copies of each page, then go to the local notary office and pay to have each page authenticated, (which is a way to prove the copies are genuine copies of the original),and hand these over. That way you will always have the original for your future use...
Unfortunately, Brazilian bureaucracy can be very subjective, rather than objective. Many times what you may be asked to provide depends on how the official in question interprets the rules and regulations.Good solid advice.
The only issue I have is the time it takes to clear funds and each time there appears to be a different problem, there's no consistency.