A US company pays a Brazilian software studio USD 50,000 a month. Each wire leaves on time, arrives days later and lands with less than the invoice, after fees nobody can fully explain. The finance team wants to know the fastest compliant way to send money to Brazil.
There are three routes: a bank wire through SWIFT, a payment provider that converts the funds and pays out locally via Pix, or stablecoins converted to BRL by a provider in Brazil. Wires go through correspondent banks and fees, while local payout routes can settle the same day.
What are the options to send money to Brazil as a company?
All three routes end in reais in a Brazilian account. They differ in who handles the conversion and how the money travels.
Bank wire (SWIFT)
The company’s bank sends the payment through the SWIFT network, often via one or more correspondent banks. The receiving bank in Brazil closes the FX operation and credits reais to the recipient.
It is the default for most finance teams and works with any Brazilian bank account. Each bank in the chain can charge a fee, and the final amount is only known on arrival.
Payment provider with local payout
The company funds a provider abroad in its own currency. The provider converts to BRL and pays the recipient through Pix, Brazil’s instant payment system, from a local account.
The money does not cross the border as a wire to each recipient, so correspondent fees drop out of the chain. The recipient receives a local transfer, and the company sees the BRL amount before the payment goes out.
Stablecoins converted to BRL
The company sends stablecoins to a provider in Brazil, which converts them to reais and pays the recipient locally. The transfer runs on a blockchain network, available 24/7.
This route suits companies that already hold stablecoins in treasury. Transfero’s analysis of stablecoins in international payments explains the mechanics in more depth.
How long does each option take?
A wire depends on banking hours in both countries, the number of correspondent banks and the time each one takes to process. It often takes days, and a missing field can stop it in the middle of the chain.
Local payout routes remove the correspondent leg. Once funds reach the provider and the conversion is done, the Pix to the recipient settles quickly, so the same-day payment becomes possible.
The stablecoin leg itself runs at any hour. The total time then depends on conversion and the local payout, which vary by provider. Transfero’s comparison of SWIFT and blockchain for international payments breaks down the two infrastructures.
What does each option cost?
Three cost lines show up in every route. Comparing only the exchange rate hides part of them.
FX spread
The spread is the difference between the reference exchange rate and the rate applied to the payment. It is usually the largest cost and the least visible, because it sits inside the quote.
IOF
IOF is Brazil’s federal tax on FX operations. Under Decree No. 6,306/2007, art. 15-B, as amended by Decree No. 12,499/2025, inflows pay 0.38% as a general rule, and export revenue pays 0%.
The institution that closes the FX operation in Brazil collects it. Because the rate depends on the nature of the payment, it is the same whichever route the money takes.
Intermediary and receiving fees
Correspondent banks in a wire chain can each deduct a fee, and the receiving bank may charge another. Local payout routes avoid the correspondent leg, though providers charge their own fee.
Take an illustrative USD 50,000 invoice, with hypothetical values that do not refer to any specific provider.
Item | Bank wire | Provider with local payout | Stablecoins to BRL
|
|---|---|---|---|
Steps | Wire → correspondent → Brazilian bank → FX → credit | Funding → FX → Pix | Stablecoin transfer → FX → Pix |
FX spread | 1.5%: USD 750 | 0.8%: USD 400 | 0.6%: USD 300 |
Intermediary and receiving fees | USD 80 | None | None |
Provider or network fee | None | USD 10 | USD 5 |
IOF | Same on every route: 0% for export revenue, 0.38% for other inflows | Same | Same |
Cost before IOF | USD 830 | USD 410 | USD 305 |
The stablecoin column assumes the company already holds stablecoins. Buying them first adds a conversion step and its own cost.
Compare your current wire cost with a local payout route. Talk to our team.
What does the Brazilian side need to receive the money?
The recipient needs an account in reais at a Brazilian institution and a tax ID: CNPJ for companies, CPF for individuals. For local payouts, a Pix key or account details complete the data.
The payment also needs a clear purpose, such as payment for services, goods or an intercompany transfer. The purpose defines the FX classification and the IOF rate, so it should be on the invoice before the money leaves.
Supporting documents, such as the invoice or the service contract, back the operation. The Brazilian institution may request them before crediting the funds.
Which FX rules apply when money enters Brazil?
Law No. 14,286, of December 29, 2021, in force since December 31, 2022, set Brazil’s current FX framework. BCB Resolution No. 277, of December 31, 2022, regulates the FX market and the entry and exit of funds.
From article 49 onward, Resolution 277 covers eFX providers, which handle cross-border payments on behalf of clients. That is the framework behind the payment provider route.
Stablecoins have their own layer. BCB Resolution No. 521, of November 10, 2025, added article 76-A to Resolution 277: since February 2, 2026, international payments with virtual assets and stablecoin trades are FX market operations.
Which option fits which payment?
A single large invoice to a supplier with a long banking relationship can keep running by wire, as long as the full cost is known. The trade-off is time and fee visibility.
Recurring payments to many recipients, such as contractors or sellers, fit a provider with local payout. One funding transfer covers the batch, and each recipient receives a Pix.
Companies that already hold stablecoins, or that need to pay outside banking hours, can use the stablecoin route through a provider in Brazil.
How does Transfero move business payments into Brazil?
Transfero’s cross-border payments run on the Transfero Payments Network (TPN), a layer that connects banking rails, blockchain networks and liquidity providers. The platform processed more than 9.8 million transactions in 2025.
Money moved globally in minutes, through Transfero’s cross-border payments
Predictable 24/7 payouts across multiple countries
More than 180 payout markets
Questions to ask before your next payment to Brazil
Do you know the full cost of your current wires, including correspondent fees?
Is the purpose of each payment on the invoice, so the FX classification and IOF are right?
Does the recipient have a Brazilian account, a CNPJ or CPF and a Pix key?
Are your payments one large invoice or many recurring payouts?
Does your treasury already hold stablecoins?
Does your provider explain which part of Resolution 277 covers its service?
Talk to our team about sending payments to Brazil.
Frequently asked questions
Is there a limit on how much a company can send to Brazil?
Brazil’s FX rules do not set a general cap per company. Each institution checks whether the operation fits the parties’ activity and profile. Specific rules exist, such as article 29 of Resolution 521, which limits a virtual asset provider to USD 100,000 per operation when the counterparty is not an institution authorized to operate FX.
Who pays the IOF tax?
The institution that closes the FX operation in Brazil collects the IOF. On inflows, the rate is 0.38% as a general rule and 0% for export revenue, under Decree 6,306, art. 15-B. Commercially, the parties should agree in the invoice terms who absorbs the tax and other costs.
Can I pay a Brazilian supplier in USD?
You can invoice and send in USD. The FX conversion to reais happens when the funds enter Brazil, through the institution that closes the operation. The supplier receives reais in a Brazilian account, so agree upfront on the amount in BRL or who bears the exchange rate.
Do I need the recipient’s CNPJ?
For a company, yes. The CNPJ identifies the recipient in the FX operation and is often used as its Pix key. Individuals are identified by CPF. Missing or inconsistent tax IDs are a common reason for payments to stop before the credit.
