Brazzil

Penetrating Analysis. Expect negative feedback due to High-Risk Country Classification for Brazil. Be careful in Salvador.

As one who, with varying success, has used ATMs in Brasil to make withdrawals from Canadian bank accounts, I'm wondering about alternatives. When I moved here about seven years ago I investigated the possibility of transferring money from a Canadian bank account to a Brasilian account. But this seemed to be so complicated and costly at the Brasilian end that I simply gave up. Can somebody advise on money transfers of this nature? Have things changed since I investigated this seven years ago? What's the best alternative to using ATMs to withdraw from international accounts? Advice would be appreciated.

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written by Ric, 2007-02-23 07:55:49

Penetrating Analysis. Expect negative feedback due to High-Risk Country Classification for Brazil. Be careful in Salvador.

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written by istheman, 2007-02-23 08:12:03

As one who, with varying success, has used ATMs in Brasil to make withdrawals from Canadian bank accounts, I'm wondering about alternatives. When I moved here about seven years ago I investigated the possibility of transferring money from a Canadian bank account to a Brasilian account. But this seemed to be so complicated and costly at the Brasilian end that I simply gave up. Can somebody advise on money transfers of this nature? Have things changed since I investigated this seven years ago? What's the best alternative to using ATMs to withdraw from international accounts? Advice would be appreciated.

You can receive money from international destinations in 3 different fashions that I'm aware of here in brazil besides an ATM withdraw. Bankwire, Western Union, and Money Gram. For money gram, which is like western union, but much cheaper, you must have a bank account at Itau. Western Union, they are only located inside banco do brasil's "cambio", which are only one or two agencies (branches) in each city. And bank wire, which is a pain in the ass, especially if you have an account at a bank that doesn't have a "cambio", or exchange, which the vast majority of them do not. The ones that I'm aware of that do have a "cambio" are BDB and Bradesco, and now Caixa Economica accounts are able to receive American dollars that are sent internationally, but no other currency.

Bankwires are a big pain in the ass, especially if they're for more than 10K reais, and even moreso if you don't have an account at BDB or Bradesco.

I withdraw money from ATM machines in Salvador all the time without problem using my international ATM and credit cards.

I send money from the U.S. to Brazil once a month (using El Camino Transferencias) for a fee of $15.00. The money always arrives without problems.

I don't see where the problem is. Except, perhaps, that the author of this series just can't get over the fact that he was "slighted" once by an ATM machine.

I also use ATM's to withdraw money from my american bank account, the only trick is knowing which locations and which machines to use, but it's not like it's brain surgery to figure out. I also just took a friend yesterday to withdraw money from his account in Norweigh, we had a problem with the first machine, but the one right next to it spit it out.

You can go to any Banco do Brasil branch to liberate a funds transfer. If you are a tourist you need your passport and something with your home address.. same for Moneygram. If you are a resident you need your RNE and CPF. BUT you can't send money to yourself from aboard and anything over $10,000 it is then not considered tourism transaction.
Now it is easy but 10 years ago a nightmare.

Tranfers
written by Doggy Daddy, 2007-02-23 13:23:22

You can go to any Banco do Brasil branch to liberate a funds transfer. If you are a tourist you need your passport and something with your home address.. same for Moneygram. If you are a resident you need your RNE and CPF. BUT you can't send money to yourself from aboard and anything over $10,000 it is then not considered tourism transaction.
Now it is easy but 10 years ago a nightmare.

It's 10,000 reais here in brazil, not dollars. And BDB does liquidate WU's, there the only ones that do, but not moneygrams, they can only be liquidated at Banco Itau's.

Funny you say now it is easy, it's easy compared to the way it was 10 years ago maybe, but the system of sending and receiving money internationally to and from brazil is one of the most beurocratic, archaeic, and frustrating processes I've ever been associated with.

In most countries you don't even have to alert a bank that you're receiving a bankwire, it just appears in your account. It's certainly not that way in brazil. And as far as Western Union's are concerned, in most all countries worldwide they have their own offices or stores, except here in brazil.

Brazil was the LAST country on earth that currently works with Western Union that allowed people to SEND internationally. Before 2.5-3 years ago people could only RECEIVE via Western Union, which is exactly the way it is TODAY in Brazil concerning MoneyGram.

Just have more credit/debit cards of different banks. also be carefull to have master and visa both. Yes, some times it is a hit or miss. But then its technology. The same problems were faced when I travelled to US, and France. But then I could get over it, by talking to the bank, and/or trying different ATM's. Generaly the ATM at main and centraly located bank branches dont give much trouble.

If you are talking of spending over 20K Brl per month over next 4 to 6 months....then why not make a proper defined investment transfer? Once and for all your problem will be solved. Otherwise smaller amounts should be taken care by debit/credit cards. Or carry TC. Then get the money changed in main cities. Dont complain when you reach far off from the main business cities.

I don't understand all these comments about how difficult it is to send money to Brazil. I send money from California to Brazil (Salvador) at least once (and sometimes two or three) times a month. I go to a store in my neighborhood and pay a flat rate of $15.00 dollars for each transfer. The store sends the money via El Camino Transferencias, and the money is deposited directly into the Brazilian bank account of the person I send it to within 48 hours. I send money to people with accounts at Banco do Brasil, Bradesco and other banks and they always receive it (my in-laws are always asking for money for "emergencies", but that's a different issue!). In the three years I've been doing this I've never had a problem, and the money is always deposited within 48 hours (except at Carnaval and the World Cup, when it takes a few extra days!). The service is so reliable I don't even bother anymore to check to see if the money has arrived, because it always does.

If you are talking of spending over 20K Brl per month over next 4 to 6 months....then why not make a proper defined investment transfer? Once and for all your problem will be solved.

It's not that simple, believe me, I'm making a foreign investment.

The store sends the money via El Camino Transferencias

What type of transfer is this??? A bank wire (swift system)?

Directory of Transmitters of Money Abroad

License # Contact Institution Name Contact Name Address City State Zip Country Phone
22210 JP Adir Money Transfer Corporation Ron Azarkman 1605 West Olympic Boulevard, #600 Los Angeles CA 90015 USA 213-639-2195
15200 JP American Express Travel Related Services Company, Inc. Anne Schepp 200 Vesey Street New York NY 10285-4909 USA 212-640-5100
13740 JP Amparo's Foreign Exchange, Inc. Alaine Gallanosa 233 Sansome Street San Francisco CA 94104 USA 415-362-0426
19800 JP Anh Minh Money Transfer, Inc. Lu Tran 9211 Bolsa Avenue, Suite 104 Westminster CA 92683 USA 714-893-4348
20950 JP Antequera, Inc. Fernando Lopez 3339 W. 8th Street, Suite A Los Angeles CA 90005 USA 213-381-2858
20300 JP Armenian Express, Inc. Tigran Ovakimian 620 South Glendale Avenue Unit C Glendale CA 91205 USA 818-550-9909
22750 JP Associated Foreign Exchange, Inc. Fred Kunik 16133 Ventura Blvd., Ste 900 Encino CA 91436 USA 562-345-1834
22480 JP Banagricola de El Salvador, Inc. Reina Penate 3450 Wilshire Boulevard, Suite 1040 Los Angeles CA 90010 USA 213-487-6400
17360 JP Bancomer Transfer Services, Inc. Moises Jaimes 16825 Northchase Drive Houston TX 77060-2544 USA 281-765-1500
21270 JP Bancomercio de El Salvador, Inc. Jose Belismelis 5827 Columbia Pike, Suite 100 Falls Church VA 22041 USA 703-824-9744
19860 JP BANIF & Comercial dos Acores, Inc. Francisco Braga 2-B North 33rd Street San Jose CA 95116 USA 408-251-8081
16890 JP Banmetropolitano Corp. Salvador Rivera 1101 South Vermont Avenue Los Angeles CA 90006 USA 213-427-7622
16550 JP BPI Express Remittance Corporation Leonor Cayetano 3550 Wilshire Blvd. Ste 128 Los Angeles CA 90010 USA 213 380 9833
16390 JP Continental Exchange Solutions, Inc. Juan Bianchi 13850 Cerritos Corporate Drive, Suite E Cerritos CA 90703 USA 562-345-2100
19120 JP Del Agro Corporation USA Carlos Klee 184 South Vermont Los Angeles CA 90004 USA 213-637-9730
20060 JP Dolex Dollar Express, Inc. Raul Limon 700 Highlander Blvd., Suite 450 Arlington TX 76015 USA 817-548-4700
14940 JP Dollar America Exchange, Inc. Ben Javellana 2240 E. Plaza Blvd. Suite O National City CA 91950 USA 619-470-3803
22170 JP Dollar Delivery, Inc. Daisy Lam 14936 Dillow Street Westminster CA 92683 USA 714-899-1345
20560 JP El Camino Transferencias, Inc. Gerardo Bonilla 225 Broadway Ave, Suite 1425 San Diego CA 92101 USA 619-819-8001
20970 JP Envios, R.D. Corp Rodger Zepka 2554 Saturn Avenue Huntington Park CA 90255 USA 323-582-9713
22710 JP Euronet Payment and Remittance, Inc. Patrick Cvetko Brown 4424 Taggart Creek Road, Suite 101 Charlotte NC 28208 USA 704-394-2262
16270 JP Express Padala (USA) Rodolfo Aquino 2365 South Azusa Avenue West Covina CA 91792-1538 USA 213-229-4404
21720 JP G&T Continental Transferencias Mundiales, Inc. Alesh Vargas 2021 West 7th Street Los Angeles CA 90057 USA 213-413-8564
20640 JP Girosol Corp. Sergio Herran 16666 NE 19th Avenue Miami Beach FL 33162 USA 305-944-1424
20190 JP GroupEx Financial Corporation Inc. Luz Lapeyre 14849 Firestone Boulevard La Mirada CA 90638-6009 USA 714-690-8300
16800 JP Integrated Payment Systems Inc. Mary Thorson 12500 E. Belford Ave., M18U Englewood CO 80112 USA 303 967 5529
20100 JP International Money Transmissions Systems, Inc. Luis Vazquez 3530 Wilshire Blvd. Suite 1335 Los Angeles CA 90010 USA 213-383-3909
21500 JP International Remittance (USA) Corporation David Tong Uy 7033 Sunset Boulevard, Suite 310 Los Angeles CA 90028 USA 323-467-7080
21370 JP Johnny Air Cargo, Inc. Jay Angeles 69-04 Roosevelt Ave Woodside NY 11377 USA 718-672-7080
22410 JP JOM Corp. Luis Echeverria 8684 Avenida de la Fuente, Suite 16 Chula Vista CA 92154 USA 619-661-5232
15520 JP LBC Mundial Corporation Hugo Bonilla 362 East Grand Avenue South San Francisco CA 94080 USA 650-873-0750
20280 JP LBP Remittance Co. Loreta Peserio 8215 A Woodman Avenue Panorama City CA 91402 USA 818-989-2720
16600 JP Lucky Money, Inc. Rommel Medina 1028 Mission Street San Francisco CA 94103 USA 415-864-8367
14390 JP Maniflo Money Exchange, Inc. Florino Agpaoa 1442 Highland Avenue National City CA 91950-4624 USA 619-474-1547
20850 JP Meest Corporation Inc. Tamara DeBattista 97 Six Point Road Toronto ON M8Z 2X3 Canada 416-236-0254
22300 JP Money Express Financial Corp. Delmo De Moura 2100 Ponce de Leon Blvd. Ste 111 Coral Gables FL 33134 USA 305-444-9773
19100 JP MoneyGram Payment Systems, Inc. Kate Petrick 3940 South Teller Street Lakewood CO 80235 USA 800-926-9400

Me too. Have done this. I did not face any problem, getting money thru banco real, whenever wish to want. Just have the right docs in place.

Max: Do yourself a favor. Go to HSBC direct open an online account and you can withdraw cash anywhere HSBC works in their atms without fees. Other international banks offer the same service. You can easily transfer money electronically with no fee from any other bank account. This will solve your problems. And the problems of those who are criticizing because you won't need to write this any more.

foreign investment.
written by Old one, 2007-02-24 10:09:41

Me too. Have done this. I did not face any problem, getting money thru banco real, whenever wish to want. Just have the right docs in place.

LOL..yeah, and those doc's are so easily obtained, and never have to be updated, in numerous different systems and federal, state agencies.

Its not all that difficult. Nor it is complicated for an expreinced person. One can go to any extent to prove it is difficult, or its simple. Point less worth talking more about.

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