Brazil is one of Latin America’s largest remittance markets, and thanks to Pix — the instant payment system now used by almost every adult in the country — sending money to Brazil from the USA is faster than ever. Money can land in a recipient’s bank in seconds. But providers vary on cost, and there is one Brazil-specific tax to know about. This guide covers the cheapest, fastest ways to send money to Brazil in 2026.
The short version
- Best value: Wise for larger bank transfers (real mid-market rate); Remitly is a strong all-rounder.
- Pix is king — most apps pay out instantly to a Brazilian bank via Pix.
- Brazil charges a 0.38% IOF tax on inbound conversions, deducted automatically — it applies to all providers.
- Check the live rate on our USD to BRL page before you send.
What decides how many reais arrive
- The exchange-rate markup — the gap between the real mid-market rate and the rate you are offered.
- The transfer fee — the visible charge.
- The IOF tax — a fixed 0.38% on inbound conversion, applied by all providers.
- The delivery method — Pix and bank deposits are cheapest and fastest.
Check today’s USD to BRL rate first so you know a fair deal.
The best ways to send money to Brazil
Wise — best for bank transfers and larger amounts
Wise uses the real mid-market rate with a small transparent fee, and is typically the best value for bank transfers — especially larger amounts from $10,000 upward, where its no-markup rate saves the most. It pays out to Brazilian bank accounts, often via Pix.
Remitly — strong all-rounder with Pix and cash pickup
Remitly supports Pix and major Brazilian banks, plus cash pickup, and even promises a full refund of its fee if a transfer is delayed. It is a reliable, flexible choice, and often the most convenient for sending straight to a recipient’s bank via Pix.
MoneyGram, Xoom and others
For cash pickup, MoneyGram and Remitly tend to be cheapest, while Xoom (a PayPal service) offers convenient bank and cash options. Compare the reais delivered, as markups vary.
Cost comparison at a glance
| Provider | Typical fee | Exchange rate | Speed | Delivery |
|---|---|---|---|---|
| Wise | Transparent, from ~0.5% | Mid-market, no markup | Seconds–1 day (Pix) | Bank / Pix |
| Remitly | Low or $0 | Small markup | Seconds (Pix)–minutes | Pix / bank / cash |
| MoneyGram / Xoom | Varies | Wider markup | Minutes | Cash / bank |
All providers also pass on Brazil’s 0.38% IOF tax. Rates and fees change — compare the reais delivered before you send.
How your recipient receives the money
- Pix — the dominant choice. The provider converts your dollars and pays out to the recipient’s bank via Pix, usually in seconds.
- Bank deposit — to any Brazilian bank account.
- Cash pickup — available with MoneyGram, Remitly and others.
Brazil’s IOF tax
One cost is unavoidable and the same across providers: Brazil levies a small IOF tax of about 0.38% on every inbound foreign-currency conversion. The receiving Brazilian bank deducts it automatically, so it is a fixed part of the cost of sending money to Brazil — not something any provider can waive. Factor it in when comparing quotes.
Taxes: US and Brazil
On the US side, the 1% excise tax introduced on January 1, 2026 applies only to remittances paid with cash or a money order — bank- and card-funded transfers are exempt. This is separate from Brazil’s IOF tax, which applies to the conversion on arrival.
How to choose the right option
- Larger bank transfer: Wise, for the no-markup rate.
- Sending to Pix or a bank quickly: Remitly or Wise.
- Recipient wants cash: MoneyGram or Remitly pickup.
Step by step: how to send money to Brazil
- Check today’s USD to BRL rate so you know the benchmark.
- Compare the reais delivered across two providers for your amount.
- Choose Pix or bank deposit for speed and low cost.
- Fund from your bank account or debit card to avoid the 1% US cash tax.
- Send, and save the recipient for faster repeat transfers.
Check today’s real USD → BRL rate first
See the current mid-market rate on our free converter and measure any provider’s offer against it before you send to Brazil.
See the USD to BRL rateFrequently asked questions
What is the cheapest way to send money to Brazil?
Wise and Remitly offer the best balance of cost and speed, with Wise usually cheapest for larger bank transfers. Most pay out instantly via Pix. For cash pickup, MoneyGram and Remitly are cheapest. Compare the reais delivered.
Can I send money to Pix from the USA?
Yes. Most apps like Wise and Remitly pay out via Pix — you send dollars, the app converts to reais and pays the recipient’s bank via Pix, usually in seconds.
What is the IOF tax?
Brazil charges about 0.38% on every inbound currency conversion, deducted automatically by the receiving bank and applied to all providers — a fixed part of the cost.
How long does it take?
Pix payouts usually arrive in seconds to minutes; standard bank deposits up to a business day; cash pickup within minutes.
Do I have to pay the new 1% US transfer tax?
Only if you pay with cash or a money order. Bank- or card-funded transfers are exempt. This is separate from Brazil’s IOF tax.
Related guides: USD to BRL exchange rate · How to send money internationally · Wise vs Remitly