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Transfers over 30,000 BRL per year from Brazil

Is there a new limit of 30,000 BRL for sending money from Brazil?
No, this limit doesn’t affect how much you can transfer per year. All it means is that if you want to send 30,000 BRL or more per calendar year, we must ask for additional documents before we can resume your transfer.

Why is this verification necessary? Is it required by the Brazilian government?
No, this isn’t required by the government. Our banking partner in Brazil has requested this verification, in compliance with the foreign exchange market regulations in Brazil, particularly Law 4131, from September 3rd, 1962 and all its revisions.

All financial institutions authorized by the Brazilian Central Bank must implement verification policies and procedures in order to prevent money laundering, as it is stated by the Law 9613, from March 3rd, 1998.

I thought the limit was 9000 BRL per month. Did that change?
The monthly limit for transfers from Brazil is still 9000 BRL. The only difference is that there is an additional verification step that must be completed if you wish to send more than 30,000 reais per year.

What documents do I have to submit in order to be verified?
You’ll need to upload 3 documents:

1. Proof of ID – we can accept a high quality photo or scan of one of the following documents:
  • your identity card (RG which shouldn’t be issued before the year 2000),
  • your driver’s license
  • your passport
 All 4 corners of the document need to be visible. You can read more about verifying your ID here.

2. Proof of address – this could be a recent utility bill or a bank or credit card statement or a letter from a financial institution.

Document needs to be dated within the last three months and needs to show:
  • your name
  • your address
  • the date of issue
  • the logo/name of issuing entity
  • the purpose of the document (we cannot accept an image of the envelope)
Please make sure the details are legible on the copy you are uploading. You can read more about verifying your address here.

3. Proof of income – this should be a PDF copy of your 2016-2017 Brazilian tax return and it’s filing receipt (both full documents are necessary). You can download both from the Receita Federal website.

If I currently live abroad, how can I get a copy of my tax return documents?
You can download your tax return with the filing receipt directly from Brazil's Internal Revenue Office website.

I also earn income abroad, can I send you documents that show funds earned outside of Brazil?
No. As you are sending from Reais, we need to verify your income in 2016-2017 in Brazil was over 30,000 BRL and the source of these funds.

My parents/partner support me, I don’t receive any other income in Brazil. What can I send?
In case you are a dependent of someone then please upload the tax declaration, and filing receipt of the person who is supporting you. The declaration must show you as their dependent and enough funds to support both the declarant and all the dependent(s) who are of age (18+).

Please note: Even if you are a dependent of someone, you still need to pay your boletos from your own personal bank account.

How can I upload the documents? 
You can upload your ID here, address document here and your proof of income here. And let us know once you’ve sent them.
 
When you click on the link above to upload your documents, you’re using an encrypted connection, which means no one can intercept the document as you send it to TransferWise. Your data is kept securely within the terms of the Data Protection Act 1998.

How long does it take for my documents to be approved? 
In most cases, verification takes up to 2-4 working days.

Do I only have to do this once?
Once we’ve approved your documents, your tax return will be good for all of 2017. That means in 2018, when, you reach the 30,000 BRL limit again, we’ll need to ask for your new tax return. Your proof of ID and proof of address will only need to be verified once. 

What happens if I don’t send the documents?
You don’t have to send us the documents. However, if you want to transfer 25,000 BRL or more with TransferWise, this verification cannot be skipped.

What if my situation is a little bit different?
Please get in touch with our support team so that we can take a look at your specific case and let you know what documents we need from you. 

You can get in touch from our contact page.

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