Last updated on August 22nd, 2023 at 03:52 pm
If you are one of the millions of Brazilians living outside the country, you may be looking for the best way to send money home. In 2019 alone, Brazilians living abroad sent $282.62 million in remittances.
These remittances are used for anything from daily household expenses to education, savings, and investing in local businesses.
Banco do Brasil is one of the country’s biggest banks and a popular option for people sending money home. Remitly makes it easier than ever to send your hard-earned dollars, euros, or pounds home with a simple and safe 4-step process.
Send Money to Banco do Brasil in Brazil in 4 Easy Steps
It doesn’t take long to send a transfer on the Remitly app to Banco do Brasil. You only need to have Remitly account and your recipient’s bank details.
- Download the Remitly app and create an account.
- Decide how much you want to send and select “Bank Deposit.”
- Enter your recipient’s name, address, phone number, and bank account number.
- Add your payment method.
This process of entering in your information usually takes less than five minutes. And once you’ve submitted your transfer, you can track its progress on our app. If you add your recipient’s phone number, we can also send them SMS updates, so they know when the money has arrived in their bank account.
Why Should I Use Remitly to Send Money to Banco do Brasil?
Besides competitive exchange rates, high-level security, and transparent pricing, using Remitly is easy and affordable.
How Quickly Will my Money Arrive at Banco do Brasil?
It doesn’t take long to send money to a Banco do Brasil account. In fact, it typically takes only minutes.
No matter what, you can track your transfer on our app or on the web.
How Much Money Can I Send to Banco do Brasil with Remitly?
So how much can you actually send? At Remitly, we work with international regulations to protect your data. This means that we do have spending limits. You can increase your limit with some extra documentation.
When you register with Remitly, you can send up to the following without more paperwork:
- $2,999 within 24 hours
- $10,000 within 30 days
- $18,000 within 180 days
Is it Safe to Send Money to Banco do Brasil with Remitly?
Sending money through Remitly is very safe. We are trusted by millions of people worldwide. We use both two-factor verification and personal data encryption for safe logins and transactions. You can also turn on SMS/text notifications to monitor your transfer. If there is an error in sending your funds, you’ll get your money back.
We also offer a 24/7 support network to answer any questions you may have.
More about Banco do Brasil
Banco do Brasil is one of the largest banks in Brazil and Latin America. It was founded in 1808 by the King of Portugal and is one of the oldest continuously running banks in the world. The bank is also the official sponsor of the national volleyball team of Brazil.
Since Banco do Brasil is a publicly-owned bank, it is a key institution for many government initiatives such as Pronaf (National Subsistence Farming Support), DRS, and Fome Zero (zero hunger).
Further reading: Safely Send Money to Brazil in 5 Easy Steps