Every cross-border payment into or out of Brazil involves a foreign exchange transaction: reais are bought or sold against a foreign currency through an institution authorised by the Banco Central do Brasil to operate in the foreign exchange market. Banks contract the exchange directly; international payment providers either hold their own Banco Central authorisation or work through an authorised partner. The provider you choose decides the exchange rate you get, the fees, the speed and the support when a payment is held.
Two other costs sit on top of the rate. IOF, Brazil's federal tax on foreign exchange transactions, is charged at a rate set by decree that depends on the purpose of the transaction, and is shown on the provider's quote. SWIFT payments can also pass through intermediary banks that deduct a fee before the money arrives. The right provider is the one that gives the best net result on your real payment sizes, not the one with the lowest advertised transfer fee.
One rule changed recently. Since 1 October 2026, Resolution BCB 575 allows companies that export goods to hold foreign-currency deposit accounts at Brazilian banks, so exporters can now keep USD in Brazil rather than converting on arrival or holding it abroad.
| Provider | Best for | Main strength |
|---|---|---|
| Helm | Importers, exporters and wholesalers with regular corridors | Collection and payout accounts, conversion and trade documents in one workspace |
| Wise Business | Self-service FX and international transfers | Multi-currency receipts, conversion from 0.4% and transparent pricing |
| Payoneer | Exporters paid by marketplaces and many overseas clients | Receiving accounts and marketplace payouts |
| Itaú Empresas | Established companies needing bank-led FX and trade finance | Spot and forward FX, letters of credit, export advances |
| Santander Empresas | Companies wanting a global bank group | Spot and forward FX, ACC and ACE, ERP-linked FX |
| Banco do Brasil | Exporters using official export finance | Federal agent for the Proex export finance programme |
| C6 Bank Empresas | Digital-first SMEs | USD and EUR Global Account with published spreads |
The weighing points differ by provider type:
Each provider was assessed on the points that decide the real cost and reliability of a cross-border payment, using the provider's own product and pricing pages in October 2026.
| Criterion | What to check |
|---|---|
| Exchange rate | The spread over the market rate, and whether it changes outside business hours |
| IOF | Whether the quote shows IOF and the rate applied to that purpose |
| Fees | Sending, receiving and SWIFT fees, and who pays intermediary deductions |
| Coverage | Which currencies and countries can be paid or collected locally |
| Holding | Whether foreign currency can be held before conversion |
| Trade finance | Export advances, import finance, letters of credit |
| Support | A named person or desk for payments held for review |
Helm, the firm's own business account and payments platform, gives a trading company collection accounts in its buyers' currencies, payout accounts in its suppliers' currencies, spot and forward conversion through licensed providers, and the invoice, customs and shipping documents attached to each payment. Balances are held with licensed partners in each region, and the business contracts with those partners through Helm.
Helm is most relevant for companies with regular, material cross-border volumes across several corridors. Pricing is a monthly platform fee plus the partners' transaction and conversion fees, set out in writing before onboarding, and it is used beside a Brazilian bank for BRL operations.
Wise Business lets Brazilian companies receive, hold, convert and send money in many currencies, with local account details for USD, EUR and GBP receipts. Wise states that it is authorised by the Banco Central do Brasil. Its Brazil pricing is published: a one-time set-up fee of R$250, no monthly fee, free receipts by local (non-SWIFT) transfer in currencies including USD, EUR and GBP, US$6.11 per USD SWIFT receipt, and conversion and sending from 0.4% depending on the currency.
Wise states that IOF of 0.38% applies when received funds are converted to BRL. It does not offer trade finance, letters of credit or credit lines.
Payoneer is built for businesses paid by marketplaces, platforms and many overseas clients. Its published fee schedule shows free receipts into a receiving account in the payer's local currency, 1% for receipts in another currency, transfers between Payoneer balances at 0.5%, and an annual fee of US$29.95 only for accounts receiving less than US$6,000 in 12 consecutive months. Withdrawal fees to a Brazilian bank account are shown inside the account.
It is strongest where many smaller receipts need to be collected and consolidated before conversion, and less suited to large supplier payments that need documentary support.
Itaú offers spot FX (câmbio pronto) settled within two business days, forward FX for terms of up to 1,500 days, export and import letters of credit and documentary collections, export advances, a foreign-currency current account and the Local Currency Payment System (SML) for trade with Mercosur countries in their own currencies. It quotes 15 currencies, with no pre-set minimum or maximum per contract.
Santander Brasil offers spot FX in more than ten currencies with settlement within two business days, forward FX, Open FX connecting quotes and contracts to the company's ERP system, and ACC and ACE export finance before and after shipment. Incoming payments are received with bank details and an IBAN, and the One Trade module tracks payments and freight together.
Banco do Brasil is the federal government's financial agent for Proex, the Treasury-funded export finance programme. Proex Financiamento lends directly to exporters or their buyers and is aimed mainly at small and mid-sized companies; Proex Equalização covers part of the interest on export finance from other banks and is open to exporters of any size. Its trade workflow is more conventional than the digital banks'.
C6 Bank's Global Account for businesses holds USD and EUR beside the BRL business account. C6 publishes no monthly fee, a US$15 opening fee with waivers, FX spreads of 2% for USD and 2.5% for EUR during business hours and 4% outside them, US$10 or €10 per incoming wire and US$20 or €20 per outgoing wire. C6 states IOF of 3.5% on sending funds to the account and 0.38% on return to BRL.
The transfer fee is usually the smallest part of a cross-border payment. The spread on the exchange rate, IOF and any intermediary deduction decide the net amount, and they scale with the payment size while the fee does not.
| Illustration on a US$100,000 payment | Cost |
|---|---|
| Spread of 2.0% | US$2,000 |
| Spread of 0.6% | US$600 |
| Difference per payment | US$1,400 |
| Difference on one such payment a month | US$16,800 a year |
The figures above are arithmetic, not quotes. Ask each provider for a written quote on the same amount, currency pair and day, with IOF shown separately, and compare the reais debited or credited. For SWIFT payments, agree with the counterparty who pays intermediary fees: an invoice that arrives US$150 short creates reconciliation work for both sides.
A Brazilian company now has three places to hold foreign currency, each with different rules. Choosing between them decides when conversion happens and what the balance can be used for.
| Where | Rules that apply |
|---|---|
| Account abroad | Exporters may keep export proceeds abroad under Law 14.286 of 2021, in force since the end of 2022 |
| Foreign-currency account at a Brazilian bank | Since 1 October 2026 under Resolution BCB 575: export revenue and other amounts from abroad only; no cash or cheques; conversion to reais by FX contract |
| Balance with an international provider | Held under the provider's own terms and licence; check the currencies held and how the balance is protected |
Holding USD makes sense when the company has USD costs to pay, such as imported inputs, freight or USD debt. Otherwise, a written conversion policy, for example converting a set share of receipts on arrival and the rest against forward contracts, removes guesswork from treasury decisions.
Exporters should choose the route that makes them easiest to pay and gives them control over when to convert.
The full set of routes is in our guide to how Brazilian exporters receive USD payments.
Importers should compare FX pricing, destination coverage and the reliability of the payment on the supplier's side. A specialist provider is usually cheaper for repeat payments to established suppliers in supported currencies. A bank adds value for large orders, new suppliers and purchases that need a letter of credit or import finance.
Verify every new or changed beneficiary by calling the supplier on a number already on file before the first payment. Our guide to how Brazilian importers pay overseas suppliers sets out each method by supplier type.
A wholesaler's domestic collections run on Pix and boleto through its Brazilian bank, and its cross-border needs are usually supplier payments for imported stock and, for some, receipts from overseas buyers. The cross-border provider should fit around the bank, not replace it.
Where the gap between paying for stock and collecting from buyers is the main cash pressure, trade finance matters more than the transfer route. The guide to trade credit for importers and exporters explains the options, and the guide to payment methods for Brazilian wholesalers covers domestic collections.
A payment provider moves money; a bank can also finance and secure the trade. Four products matter most to Brazilian trading companies:
Exporters selling on credit terms should also check Proex through Banco do Brasil. For trade with Argentina, Paraguay and Uruguay, the Local Currency Payment System (SML) lets the importer pay in its own currency and the exporter receive reais, without a US dollar leg.
Many Brazilian companies use a bank for BRL operations, taxes and credit, and a cross-border specialist for collections and FX. The structure works when each account has a defined role, a named owner and a monthly reconciliation. The firm's trade payments service maps corridors, currencies and volumes to the providers that fit them and sets out the fees and settlement times in writing.
Before opening a new provider, prepare one onboarding pack: the CNPJ registration, articles of association, director and beneficial owner details, a description of the business and its counterparties, and sample invoices. Every provider asks for the same core information, and preparing it once shortens each application.
International payments are reviewed by every bank and provider in the chain, and a payment can be held while the provider checks the counterparty, the purpose or the documents. Reviews are routine on first payments to a new beneficiary, on unusual amounts and on payments to higher-risk countries.
It depends on the flow. Banks lead for trade finance and large documentary transactions; Wise, Payoneer and C6 publish prices for self-service FX and collections; Helm suits trading companies with regular corridors.
The one that lets buyers pay on their own domestic rail and shows the net reais after conversion. Since 1 October 2026, exporters of goods can also hold USD at a Brazilian bank under Resolution BCB 575.
Compare the all-in cost on your real payment sizes, the destination coverage and the support on held payments. Banks with letters of credit add value for large or new supplier relationships.
No. Pix is Brazil's domestic instant payment system; it can fund a provider account in reais, but the conversion and payment abroad run through a foreign exchange transaction.
IOF applies to foreign exchange transactions at a rate set by decree that depends on the purpose. The provider shows it on the quote: Wise, for example, states 0.38% when received funds are converted to BRL.
Often yes: the bank for BRL, taxes and credit, and the specialist for collections and FX, with a clear role for each account.
Buckingham Capital Consulting arranges cross-border accounts, foreign exchange and supplier payment routes for Brazilian and Latin American trading companies through licensed partners, and has obtained payment and e-money licences for firms including Nexpay, Global Send and Dzing Finance since 2013. Its trade payments service sets out each provider's fees, rates and settlement times in writing before a company moves its flows.
Speak to an expert: WhatsApp +44 7563 115980, Telegram @buckinghamcapital or info@buckinghamcapitalconsulting.co.uk.
This article is general information, reviewed against the regulator’s published requirements on the date shown. It is not legal advice; the regulator’s current publications take precedence.