Send Money to Brazil — Save Up to 3.5%, Arrive Instantly
Save up to 3.5% — IOF does not apply to Peanut transfers. Recipient spends instantly via Pix — no CPF or Brazilian bank account needed. No fees.
Send Money to Brazil and Save Up to 3.5% on Every Transfer
Every time you move money into or out of Brazil through traditional channels, the government charges the Tax on Financial Operations (IOF) — 0.38% on inbound transfers and up to 3.5% on outbound transfers. Bank wires, credit card transactions, and remittance services all trigger it. Peanut is not subject to IOF because its digital dollar conversion is not covered by IOF legislation, saving you up to 3.5% on every transfer.
Once the money arrives, the recipient can spend it immediately through Pix — Brazil's instant payment system used by over 150 million people. Pix works at restaurants, supermarkets, gas stations, online stores, ride-hailing apps, hotels, and street vendors. Payments confirm in seconds, 24 hours a day, 365 days a year. The recipient does not need a CPF (Brazilian tax ID) or a local bank account to use Peanut — a passport from any country is enough.
Why Peanut Is the Best Way to Send Money to Brazil
IOF Does Not Apply — Save Up to 3.5%
Moving money into or out of Brazil through banks, credit cards, or traditional remittance services triggers the Tax on Financial Operations (IOF). Inbound transfers are hit with 0.38%, and outbound transfers face up to 3.5%. This tax applies to wire transfers, credit card foreign transactions, and every service that routes through the regulated banking system.
Peanut converts digital dollars directly to BRL, and these transactions are not covered by IOF legislation. That means zero IOF on every transfer — whether you are sending money into Brazil from abroad or helping someone in Brazil move money out. On a $5,000 outbound transfer, that saves $175 in IOF alone. For a digital nomad sending $2,000 per month back home, the annual savings reach approximately $648.
Compare this to what others charge on top of IOF:
- Wise: 0.4-1.5% in additional charges, plus the recipient still pays IOF on traditional bank withdrawals
- PayPal: 3-4% cross-border fee, plus unfavorable exchange rate markup and IOF
- Western Union: $5-$15+ flat fee per transfer, plus a 5-10% rate markup built into the rate, plus IOF
You can see the numbers side-by-side on the Peanut vs Wise and Peanut vs PayPal comparison pages.
No Fees
Every step through Peanut is free. Depositing into Peanut costs nothing — whether you send digital dollars from an exchange, transfer via SEPA from a European bank, use ACH from a US account, or initiate a wire transfer. Sending money to your recipient is free. Spending via Pix is free. Bank withdrawals are free.
There are no additional fees, no transaction charges, and no hidden costs. The exchange rate is the rate — a single, transparent number shown before you confirm.
Instant Pix Payments
Pix is not a next-day settlement system. It is instant. The moment your recipient has funds in their Peanut account, they open the app, scan a Pix QR code at any merchant, and the payment confirms in seconds. This works 24 hours a day, 7 days a week, 365 days a year — weekends and holidays included. Pix is regulated by the Central Bank of Brazil and is the default payment method across the country with over 150 million users.
Peanut-to-Peanut transfers are always instant — funds move between Peanut accounts in milliseconds because it is an internal ledger update. Once the recipient has a balance, Pix payments at merchants are also instant because the Pix network itself settles in seconds.
Compare that to Wise (1-2 business days to deliver a bank transfer) or Western Union (hours to days before the recipient can pick up cash or receive a bank deposit).
No CPF Needed
Info
In Brazil, nearly every financial service requires a CPF (Cadastro de Pessoas Fisicas) — the national tax ID. Without one, foreigners cannot open bank accounts, access Pix natively, or use most local fintech apps. Getting a CPF as a foreigner requires visiting a Receita Federal office or a Brazilian consulate — a process that takes time and paperwork.
Peanut removes that barrier completely. Verify with a passport from any country and you can make Pix payments at merchants across Brazil from day one.
How It Works
- 1
Sign up and verify your identity
Create a Peanut account and complete identity verification. Submit a photo of your passport or national ID card plus a selfie — the process takes under 2 minutes for most users. Verification is handled by Persona, a SOC 2 Type 2 certified provider. Peanut never sees or stores your documents.
- 2
Deposit funds
Fund your account using the method that fits your location. US users can deposit via ACH (free, 1-3 business days) or send digital dollars from Coinbase or another exchange. European users can use SEPA bank transfer (free, 90% under 20 minutes). Anyone can send USDC, USDT, or DAI on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum — all deposits are free and arrive in minutes.
- 3
Send to the recipient
The recipient creates their own Peanut account and verifies with a passport or national ID (no CPF needed). Send them money directly — Peanut-to-Peanut transfers arrive instantly. If the recipient does not have Peanut yet, send them a Peanut Link — they claim the funds and can withdraw to their Pix instantly. If you are the one traveling to Brazil, skip this step and spend directly from your own account.
- 4
Recipient spends via Pix
Your recipient opens the Peanut app, taps "Pay," and scans a Pix QR code at any merchant. Payment confirms in seconds. Pix works at restaurants, supermarkets, gas stations, ride-hailing apps, hotels, online stores, and street vendors — virtually everywhere in Brazil.
Where the Money Goes
Pix
Pix is Brazil's universal instant payment system, regulated by the Central Bank of Brazil and used by over 150 million people. It is accepted virtually everywhere — restaurants, supermarkets, gas stations, online stores, ride-hailing services like Uber and 99, hotels, hostels, and street markets.
Here is how the recipient pays with Pix through Peanut:
- The merchant displays a Pix QR code at the point of sale
- The recipient opens the Peanut app and taps "Pay"
- They scan the QR code with their phone camera
- They review the payment — the amount in BRL, the digital dollar equivalent, and the exchange rate
- They confirm — payment arrives at the merchant in seconds
The merchant sees a completely normal Pix payment. They have no idea Peanut is involved. The rate locks at the moment of payment, so the amount shown on the confirmation screen is exactly what gets charged.
Pix through Peanut works 24/7/365 — no business day restrictions. Whether it is midnight on a Saturday or a national holiday, payments confirm instantly.
Bank Withdrawal
The recipient can also withdraw their Peanut balance to a local Brazilian bank account. This is useful for rent payments, utility bills, or any situation where a direct bank transfer is preferred. Bank withdrawal processing times depend on the destination bank and the withdrawal rail used.
How Much Does It Cost?
Peanut charges no fees on deposits, transfers, spending, or withdrawals. The exchange rate is the rate — there are no hidden charges layered on top. The primary saving in Brazil is IOF savings: traditional services charge 0.38% on inbound and up to 3.5% on outbound transfers, while Peanut's digital dollar conversion is not subject to IOF.
Here is how a $500 transfer to Brazil compares across services:
| Service | Transfer Fee | IOF Exposure | Approximate Total Cost on $500 |
|---|---|---|---|
| Peanut | Free | None (not subject to IOF) | $0 in fees |
| Wise | 0.4-1.5% ($2-$7.50) | 0.38-3.5% ($1.90-$17.50) | $4-$25+ |
| PayPal | 3-4% ($15-$20) | 0.38-3.5% ($1.90-$17.50) | $17-$37+ |
| Western Union | $5-$15+ | 0.38-3.5% + 5-10% rate markup | $50-$80+ |
The savings scale with the amount you send:
| Scenario | Traditional Cost (with IOF) | Peanut Cost | Approximate Savings |
|---|---|---|---|
| $1,000 outbound transfer | ~$1,035 (3.5% IOF) | ~$1,008 | ~$27 |
| $5,000 outbound transfer | ~$5,175 (3.5% IOF) | ~$5,040 | ~$135 |
| $2,000/month digital nomad sending home | ~$2,070/month (3.5% IOF) | ~$2,016/month |
For full details, visit the pricing page.
Sending from Specific Countries
Send Money from the United States to Brazil
US-based senders have two main deposit paths. ACH bank transfer is the simplest: initiate a transfer from your US bank account to Peanut's ACH details. It is free but takes 1-3 business days to clear. For faster funding, send USDC on Arbitrum or Base from Coinbase or another US exchange — deposits arrive in 1-2 minutes and cost nothing on Peanut's end.
This is the highest-volume corridor to Brazil on Peanut, driven by remittances to family, payments to contractors, tourists visiting Brazil, and digital nomads based in cities like Sao Paulo, Rio de Janeiro, and Florianopolis. Full guide: Send from US to Brazil.
Send Money from Argentina to Brazil
Argentina-to-Brazil is one of the busiest cross-border corridors in South America. Senders in Argentina can deposit digital dollars from a local exchange on networks like Solana or Tron — deposits are free and arrive in minutes. Whether you are traveling between Buenos Aires and Sao Paulo, splitting costs with friends across the border, or paying someone for services, Peanut makes the transfer instant and fee-free.
If you already use Peanut to pay with Mercado Pago in Argentina, the same balance works in Brazil — just switch to scanning Pix QR codes when you cross the border. Full guide: Send from Argentina to Brazil.
Send Money from the United Kingdom to Brazil
UK senders can deposit via SEPA if they hold a euro-denominated account (free, 90% under 20 minutes). For GBP-denominated accounts, the fastest path is buying digital dollars on a UK exchange and sending them to Peanut on Solana or Arbitrum — deposits arrive in minutes. Common use cases include tourists planning trips to Brazil and digital nomads working remotely. Full guide: Send from UK to Brazil.
Send Money from Germany to Brazil
German senders benefit from SEPA bank transfer — the fastest fiat deposit rail. Send euros from any German bank account. SEPA deposits are free and 90% arrive in under 20 minutes. If your bank supports SEPA Instant, deposits arrive even faster. Full guide: Send from Germany to Brazil.
Send Money from Portugal to Brazil
Portugal has deep historical and cultural ties to Brazil, making this one of the most active European corridors. Portuguese senders deposit via SEPA bank transfer — free, fast, and available from every Portuguese bank. The strong Portuguese-Brazilian connection means many users send money to family, pay contractors, or support digital nomad lifestyles between the two countries. Full guide: Send from Portugal to Brazil.
Send Money from France, the Netherlands, or Italy to Brazil
Senders across the eurozone share the same fast path: SEPA bank transfer. Deposits from any bank in France, the Netherlands, or Italy are free and 90% arrive in under 20 minutes. These corridors serve tourists, digital nomads, and anyone with personal or business ties to Brazil. See the full guides for France, Netherlands, and Italy.
FAQ
Disclaimer
The information on this page is for general informational purposes only and does not constitute tax, legal, or financial advice. Tax treatment of digital asset transactions varies by jurisdiction and may change. Consult a qualified professional for advice specific to your situation.
