Your guide to sending money from Toronto with Brasil Remittance

Brasil Remittance is an online money transfer platform facilitates money transfers between Canada and Brazil. The provider started this service to connect immigrants in Canada who wanted to send money back to their home country. Fast forward to 2024, and the service is still used for that purpose but now also supports a wider range of monetary support such as travel, investments, and property purchases.¹

If you need to transfer BRL, this guide will help you understand the process, fees, and requirements involved. We'll also explore Wise as an alternative option offering you the mid-market exchange rate and minimal fees with transparency. Let’s get into it!

How to Send Your Money from Canada to Brazil Using Brasil Remittance

To send funds via Brasil Remittance, first open a free account on their website.

You must be at least 18 years old (or the age of majority in your province if outside of Ontario), and provide your identification document, mailing address, email, phone number, and other up-to-date contact information¹.

Regardless of the amount or transfer type, the process for sending money to Brazil is similar:

1. Log in to your Brasil Remittance account.
2. Enter the amount in CAD: you’ll see the equivalent in BRL (excluding fees) in real-time. Enter your recipient’s correct information.
3. Pay using email money transfer, credit card, or pre-authorized debit. ³.
4. Brasil Remittance ensures your funds will be available to the recipient within 1 business day! The availability of funds varies depending on the receiver’s bank processing time. You can easily track your payment online for peace of mind.

What Information Is Required for Sending Money from Toronto with Brasil Remittance?

Brasil Remittance requires several documents for making a transfer.

For the sender, they’ll ask for:

• The mailing address
• Phone number
• A piece of identification valid in Canada, such as a passport or driver's license
• Professional occupation

For the recipient, Brasil Remittance asks for:

• Full legal name
• “Cadastro de Pessoas Físicas” which is equivalent to Canada’s social insurance number
• The city of the bank branch
• The bank’s name
• Transit number
• Account number
• Account type
• Relationship to sender
• The purpose for the transfer.⁴ For example, you could share that the purpose is personal, such as family support, or business-related, such as paying suppliers or employees.

Which Mastercards Are Accepted at Brasil Remittance in Toronto?

Brasil Remittance accepts transfer payments via email, money transfer, and credit card including Mastercard, Visa, Discover, and Maestro³. You can also set up a pre-authorized debit contract.

For email transfers, log in to your bank’s online banking and select Interac e-transfer. Add

• Brasil Remittance as a new contact using their email address : payments@www.brasilremittance.com,
• mailing address, and
• the amount, including their fee.

No passcode is required since Brasil Remittance uses automated deposits. ³

What Are Brasil Remittance Fees for Sending Money from Canada to Brazil?

Whether you send 10 CAD or 10,000 CAD, Brasil Remittance’s fee per transfer is CAD 10¹. Brasil Remittance discloses this fee in advance of sending money, again when you place an order, and right before you hit the confirmation button.

This fee does not include additional fees from your bank or the recipient's bank, so it's wise to contact your financial institution to ask!

Is It Possible to Send Money in BRL with Brasil Remittance from Toronto?

Brasil Remittance does not support sending money in BRL from Canada at this time.

However, they offer foreign exchange in their Toronto offices, where you can exchange CAD cash for BRL cash, though this conversion could be costly!

If you wish to send money in BRL, you might consider Wise as an alternative.

Sending Money to Brazil Made Simple with Wise

Another option for getting BRL to Brazil is with Wise, a 100% online platform that allows you to top up your multi-currency account to send funds to Brazil in a few clicks. Wise works almost anywhere, making the process accessible.

Wise is flexible and accepts bank transfers, credit cards, Apple Pay, Google Pay, wire transfers, and direct deposits¹. Whether you're sending Canadian dollars or Brazilian reals, Wise has no hidden fees or markups and also matches the mid-market exchange rate you often see on Google.*

The mid-market exchange rate, also known as the interbank rate, is the fairest rate for currency exchange, sitting at the midpoint between buy and sell prices in the global market. Most banks and transfer services would apply a markup to increase profits, but Wise offers this rate to their customers.

Wise guarantees secure transfers with 3D secure payments, prompting a password for added protection, 2-factor authentication, and biometric verification.

How to Send Money from Canada to Brazil with Wise

If you don't already have a Wise account, register for a free one. Next, you need to verify your account by providing photo identification proof of address, and a photo of you holding your ID during the verification process.

Once registered, here’s how to send money from Canada to Brazil with Wise:

1. Log in to your Wise account.
2. Determine the amount of money you want to send. Wise allows you to send money in CAD or BRL.
3. Enter the recipient’s information.
4. Pay for the transfer using a bank transfer, Interac, credit card, Apple Pay, Google Pay, wire, or direct deposit.
5. Your funds should arrive within 1-2 business days depending on the payment method, recipient's bank, or verification. Wise will keep you updated every step of the way.

Please see the Terms and Conditions for your region and visit ourpricing pagefor the most up-to-date pricing and fee information on Wise products.

Brasil Remittance vs. Wise - Which One Gives You More Value for Your Money?

To compare the value, let's look at sending 1,000 CAD to a family member’s account in Brazil on May 22, 2024, at 10:00 AM. Remember, this doesn't include service fees charged by Brasil Remittance:

	Exchange rate	Your money in BRL
Brasil Remittance	1 CAD = 3.67 BRL	3,670.00
Wise	1 CAD =3.72 BRL	3,711.24

Send money to Brazil with Wise

To Sum It Up

Both Brasil Remittance and Wise are great options for sending money from Canada to Brazil. Brasil Remittance has a physical office and online services, with a set fee for all transfers. Wise offers a flexible,cost-effective, and transparent approach, with mid-market rates! Choose the service that best meets your need, and explore more about Wise!

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Sources:

1. LinkedIn
2. Brasil Remittance- Registration
3. FAQ – English | Brasil Remittance
4. Brazil Government Website - In Brazilian Portugese
   Sources verified on 11 June 2024