Last updated on June 28th, 2024 at 11:12 am
If you’re sending money to Brazil as gifts or to provide essential financial support for loved ones, you’re one of many who are doing exactly the same. A vast amount in remittances is transferred from Brazilians abroad every year – in 2019, for example, over $3 billion made its way back to the country. That’s not surprising when you consider that millions of Brazilians live and work in countries all over the world.
It’s only natural to seek out the most reliable and cost-effective method for transferring funds to the ones you love. Unfortunately, many channels come with unclear fees and exchange rates. However at Remitly, we’re committed to making the process of sending money to Brazil as easy and cost-effective as possible.
When you send with Remitly, your family and friends are able to receive reais in the form of cash at a designated location. Alternatively, you can simply transfer the money to their bank account. Here’s our guide to doing just that, if they’re with Caixa Econômica Federal.
Send Money to Caixa Econômica Federal in Brazil in 5 Easy Steps
To send Brazilian reais using Remitly, you just have to follow these straightforward steps.
- For first-time users, download the Remitly app and create an account. Then select Brazil as your destination country.
- Enter the amount you wish to send.
- Choose Bank Deposit as your delivery method and Caixa Econômica Federal as your location.
- Enter your recipient’s bank account details.
- Enter your payment details.
Then, just take a moment to look over the details and check there aren’t any mistakes, and tap send. We may ask for additional documentation depending on the amount sent or if we are unable to verify your identity. Our real-time transfer updates mean you won’t worry about your money making it home. Provide your recipient’s phone number in your transfer and your recipient can also receive updates.
Why Should I Use Remitly to Send Money to Caixa Econômica Federal?
We know that forging a new life in another country can be challenging, and we don’t think sending money to Brazil should be an extra complication in your life. With our service, you’ll have all the necessary information at your fingertips thanks to our clearly defined fee structure and great exchange rates. What’s more, if you decide to cancel your money transfer for any reason, and the money hasn’t been received by your recipient in Brazil yet, we’ll refund the full amount.
Related reading: How to Send Money Safely to Itaú Unibanco in Brazil in 5 Easy Steps
How Much Money Can I Send to Caixa Econômica Federal with Remitly?
When it comes to sending money to Brazil, we know your amounts can vary widely. One transfer might be a small cash gift, the other might be large enough to cover someone’s household bills for a month.
With Remitly, you can make both big and small transactions, though we do have sending limits in order to abide by international regulations and maintain your security.
Additional sending limits may apply depending upon your choice of payout partner or receiving location. Need to send more? You can request an increase in your sending limit 24 hours after you sign up at Remitly.
We may request additional information on your source of funds and reasons for sending, and may also require documents such as bank statements to verify your funds. It may take up to 48 hours to review your request.
How Quickly Will My Money Arrive at Caixa Econômica Federal ?
Need your remittance to get to your recipient as quickly as possible? When you’re in a hurry, choose Remitly’s Express option and pay using your debit or credit card and the money will be in your loved one’s bank account fast. If you’re looking for more value and the transfer isn’t urgent, choose Economy and pay with your bank account.
Is it Safe to Send Money to Caixa Econômica Federal with Remitly?
As an online remittance company trusted by customers across the globe, we take online safety seriously. We have multiple levels of security in place, so that every international money transfer can be made with complete peace of mind. Your personal data is protected 24/7 through fraud monitoring and encryption.
Plus, our real-time transfer updates mean you won’t worry about your money making it home. Provide your recipient’s phone number in your transfer and your loved ones can also receive updates.
Read on here to learn about security at Remitly
Further reading: Safely Send Money to Brazil in 5 Easy Steps
More about Caixa Econômica Federal
Caixa Econômica Federal was founded back in 1861 by the last Emperor of Brazil. It’s still going strong today, offering a range of services from savings accounts and loans to credit cards and asset management services. Its reach is enormous, with well over 4,000 branches and around 146 million customers.
As well being a household name thanks to its historic presence as a bank, the state-owned Caixa Econômica Federal also has the distinction of running federal lotteries in Brazil, including the biggest one of all: the Mega-Sena. The Caixa lotteries generate billions annually for social initiatives in the fields of health, education and culture.