When you send money to Brazil, there are local and federal regulations that Wise must comply with. If you send over 10,000 USD (or equivalent in BRL) in a single transfer or over 365 days, you or your recipient may need to send extra documents. You can be asked to resend documentation at any time.
How does it work?
Once you’ve set up a new transfer to BRL, we’ll process the money and send it out to our banking partner in Brazil, Banco Rendimento.
Your transfer will show as completed on your Activity, but Banco Rendimento will hold the money and get in touch with you, or your recipient, for additional documents. They’ll need these documents before they can send the money to your recipient.
Make sure to give the correct phone number and email address, for yourself and your recipient, when you set up your transfer.
As soon as Banco Rendimento receives the documents and verifies them, they’ll release the money to your recipient.
Who can I send BRL to?
You can only send BRL to personal bank accounts in Brazil and only for the following purposes:
Maintenance of residents: You are sending BRL to support your family members who are Brazilian residents; you’ll be asked to provide a proof of kinship.
Availability of your own funds: You are sending money to yourself, to be used by you in Brazil.
Purchasing real estate or land directly from a seller: You’ll be asked to provide a complete sales agreement with all signatures. But, if the seller is a Real Estate company or agent — we can’t process your transfer.
What documents might be needed?
Banco Rendimento might ask you, or your recipient, for an ID document, proof of address, authorization forms, tax return, source of funds, payment purpose, or documents proving relationship with the sender/recipient.
Banco Rendimento could still request further documents in special circumstances.
How long will it take?
The verification for large transfers to BRL is a 2-step process: getting the documents from you or your recipient, and verifying the documents.
Getting the documents
Banco Rendimento will try to get in touch with you or your recipient for the documents. They’ll be in touch within 2 working days from when your transfer shows as completed. If Banco Rendimento can’t reach you or your recipient, we’ll send an email to you as well.
It’s important that you respond quickly with the documents being asked for, so your transfer can be released to your recipient as soon as possible.
Verifying the documents
After receiving the documents, Banco Rendimento can take 3–6 working days to review and approve them. When the documents are approved, the transfer will be completed.
If Banco Rendimento needs additional information, they’ll contact you or your recipient again.
Why was my transfer canceled and refunded?
There are different scenarios in which the transfer can be cancelled and refunded. These are the most common.
You didn’t reply to our contact attempts
Once either Banco Rendimento or Wise asks for yours or your recipient’s documentation, you have up to 2 working days to provide them. If we don’t hear from you, or your recipient, within those 2 working days — we’ll have to cancel and refund your transfer.
You can’t provide the documents requested
If you can’t provide the documentation needed, then we can’t process your transfer. You’ll need to contact us and we’ll initiate a refund.