How long does it take to send money from Portugal to Brazil?

SEPA deposit: 90% of transfers arrive in under 20 minutes. Some may take up to 1 business day depending on your bank.Peanut-to-Peanut transfer: Instant. Once your deposit arrives, sending to your recipient's Peanut account happens in milliseconds.Pix spending: Instant. Your recipient scans a Pix QR code and payment confirms in seconds, 24/7/365.Bank withdrawal (if recipient prefers): 1–3 business days.Total time from your Portuguese bank to your recipient spending via Pix: typically under 20 minutes.

What's the exchange rate for Portugal to Brazil?

Peanut converts EUR to USDC to BRL. The rate you see on the confirmation screen is exactly what gets charged — no post-transaction adjustments, no hidden fees. The rate locks at the moment of payment.The primary advantage over traditional transfers is IOF savings. Traditional bank transfers and credit cards are subject to the Tax on Financial Operations — 0.38% inbound, up to 3.5% outbound. Digital dollar transactions are not subject to IOF. On outbound transfers, that's up to 3.5% saved before accounting for any other fees or spreads.

How do I deposit from Portugal?

Use SEPA. Open the Peanut app, tap "Deposit," and select SEPA. Copy the IBAN and reference number displayed. Go to your Portuguese banking app, create a new SEPA transfer to that IBAN, and include the reference number. Send in EUR — your bank handles the transfer at no cost within the SEPA zone. 90% of deposits arrive in under 20 minutes. Deposits are free.

Does the recipient in Brazil need a bank account?

No. Your recipient does not need a Brazilian bank account or a CPF to spend via Pix. They verify with their passport (or any national ID), receive the money in their Peanut account, and can immediately scan Pix QR codes at millions of merchants across Brazil.If they prefer to withdraw to their own bank account, they can — but it's not required for spending.

Is Peanut cheaper than Wise for Portugal to Brazil?

Peanut and Wise have similar conversion spreads (Peanut: ~1.3% total from EUR to BRL; Wise: 0.4–1.5% depending on the corridor). The key differences:IOF savings: Wise transfers are subject to Brazil's 0.38% inbound IOF. Peanut is not subject to IOF (digital dollar transactions are not covered by IOF legislation). On larger outbound transfers, the IOF savings are even bigger — up to 3.5%.Instant Pix access: Peanut recipients can spend immediately via Pix without a CPF. Wise requires the recipient to have a Brazilian bank account and wait 1–2 days for the transfer to clear. Wise does not support Pix payments.Speed: Peanut is instant once funds arrive (SEPA deposit under 20 min + instant Pix spending). Wise takes 1–2 business days for the bank transfer.Peanut is better if your recipient wants instant spending power in Brazil without a CPF or local bank account. Wise is better if the recipient prefers a direct bank-to-bank transfer and already has a Brazilian bank account.

Can I send money to someone who doesn't have Peanut?

Yes. Share a Peanut Link with your recipient. They claim the funds in seconds — no Peanut account required to claim. Once they claim, they can withdraw to their bank account, spend via Pix, or keep the balance in Peanut for future use. Claiming is free and takes under 2 minutes.

What fees does Peanut charge?

Deposits: Free. SEPA deposits are free from Peanut, and your Portuguese bank doesn't charge for EUR transfers within the SEPA zone.Sending money: Free. Peanut-to-Peanut transfers are free.Pix payments: Free. No fee to scan a Pix QR code and pay a merchant.Bank withdrawals: Free from Peanut. Your recipient's bank may charge a receiving fee (check with their bank).Exchange rate: The rate you see is the rate you get, with no additional markup from Peanut.IOF tax: €0. Digital dollar transactions are not subject to Brazil's IOF.

Send Money from Portugal to Brazil

Fast & fee-free. No IOF fees. Recipient spends instantly via Pix without CPF. Save up to 3.5% compared to traditional transfers.

Get Early Access

Sending money from Portugal to Brazil with Peanut means no IOF fees and instant Pix access for your recipient — without needing a CPF. Deposit via SEPA from your Portuguese bank, and your recipient can spend immediately at millions of merchants across Brazil. Save up to 3.5% compared to traditional transfers that get hit with Brazil's Tax on Financial Operations.

Why Peanut for Portugal to Brazil Transfers

IOF Tax Savings

Traditional bank transfers and credit cards moving money into or out of Brazil are subject to the IOF (Tax on Financial Operations) — 0.38% on inbound transfers and up to 3.5% on most outbound transfers. Digital dollar transactions are not covered by IOF legislation, so Peanut's digital dollar flow is not subject to this tax. On a €1,000 outbound transfer, that's up to €35 saved in IOF savings.

Easy SEPA Deposits from Portugal

Deposit from your Portuguese bank account via SEPA. Under the EU Instant Payments Regulation (fully implemented by October 2025), 90% of SEPA deposits arrive in under 20 minutes. Deposits are free — no fees from Peanut, and your bank transfer costs nothing if you're sending EUR within the SEPA zone.

No CPF Required

Most Brazilian payment services require a CPF (Brazilian tax ID) and a local bank account. Foreigners can't access Pix without jumping through bureaucratic hoops — visiting a Receita Federal office or consulate, opening a Brazilian bank account. Peanut removes that wall. Verify with your Portuguese passport or Cartao de Cidadao in under 2 minutes, and you're in. Your recipient gets full Pix functionality from day one — no CPF, no Brazilian bank account needed.

Instant Pix Spending in Brazil

Your recipient can spend immediately via Pix at virtually every merchant in Brazil. Pix is the default payment method with over 150 million users — restaurants, supermarkets, gas stations, online stores, ride-hailing apps like Uber and 99, hotels, street vendors. Instant confirmation, 24/7/365. No waiting for bank transfers to clear.

Skip the Waitlist

How to Send Money from Portugal to Brazil

1
Sign up for Peanut and complete verification
Identity verification is required — it takes under 2 minutes for most users. You can verify with your Portuguese passport or Cartao de Cidadao.
2
Deposit via SEPA from Portugal
Open the app, tap "Deposit," and select SEPA. Copy the IBAN and reference number displayed. Go to your Portuguese banking app and create a transfer using those details. Include the exact reference number — this is how Peanut matches the transfer to your account. 90% of SEPA deposits arrive in under 20 minutes. Deposits are free.
3
Send to recipient
Once your deposit arrives, send money to your recipient's Peanut account. They receive it instantly — this is an internal ledger update, so it happens in milliseconds. If they don't have a Peanut account yet, you can share a Peanut Link — they claim the funds in seconds.
4
Recipient spends via Pix in Brazil
Your recipient can pay at any merchant in Brazil by scanning a Pix QR code. Open the app, scan the QR, review the amount in BRL, and confirm. Payment arrives at the merchant in seconds. No CPF needed, no Brazilian bank account required. They can also withdraw to their own bank account if they prefer.

Where the Money Goes in Brazil

Pix Payments

Pix is the national instant payment system in Brazil, regulated by the Central Bank of Brazil. Over 150 million users. Your recipient scans a merchant's Pix QR code with the Peanut app, reviews the amount in BRL, and confirms. Payment arrives in seconds, 24/7/365.

Where Pix works: Virtually everywhere in Brazil. Restaurants, supermarkets, gas stations, online stores, ride-hailing (Uber, 99), hotels, street vendors, markets. If a merchant accepts payments in Brazil, they likely accept Pix.

Normally, Pix requires a CPF and a Brazilian bank account. Foreigners without a CPF cannot access Pix through most Brazilian banks or fintechs. Peanut removes that barrier — your recipient gets full Pix functionality from day one, verified with their passport only.

For details on using Pix with Peanut, see the Pix payment guide.

Bank Withdrawal

Your recipient can withdraw funds to their own Brazilian bank account if they have one. Withdrawals are free from Peanut. Processing typically takes 1–3 business days depending on the bank.

Cost Comparison: Portugal to Brazil

Peanut Total Cost

SEPA deposit fee: Free
Conversion: The rate you see is the rate you get (0.8% spread embedded)
Pix payment fee: Free
IOF tax: €0 (digital dollar transactions are not subject to IOF)

Total on €500 transfer: ~€504 (0.8% spread only)

Competitor Comparison

Service	Transfer Fee	Exchange Rate	IOF Impact	Total Cost (€500)	Recipient Gets
Peanut	Free	Real rate + 0.8% spread	None (exempt)	~€504	~R$3,000 (instant Pix)
Wise	€3–€5	Mid-market + 0.4–1.5% markup	0.38% inbound	~€510–€515	~R$2,980 (1–2 day bank transfer)
PayPal	Free–€3	3–20% markup	0.38% inbound	~€520–€605	~R$2,850–R$2,950 (requires PayPal account)
Western Union	€5–€15	5–10% spread	0.38% inbound	~€535–€580	~R$2,750–R$2,900 (hours to days, physical pickup or bank deposit)

Savings on €500: Up to €76 saved compared to Western Union, plus instant Pix access that competitors can't offer.

Savings on Larger Transfers

€1,000 transfer: Save €11–€111 vs competitors + save on IOF
€5,000 transfer: Save €55–€555 vs competitors + save on IOF

The larger the transfer, the more you save — and your recipient gets instant spending power instead of waiting days for a bank transfer.

Common Use Cases for Portugal to Brazil

Remittances to Family

Portugal has approximately 485,000 registered Brazilian residents — about 31% of all foreign residents in the country. Brazilian immigrants in Portugal sent a record €414 million back to Brazil in 2024. Peanut makes these transfers faster and cheaper. Send money to family in Brazil, and they receive it instantly via Pix — no CPF needed, no waiting for bank transfers, no IOF fees eating into the amount.

Digital Nomads Working from Brazil

Brazil is a major destination for remote workers and digital nomads. If you're based in Portugal but spending time in Brazil, Peanut lets you move money between both countries instantly. Deposit EUR via SEPA in Portugal, spend via Pix in Brazil. Your balance stays in dollars until you spend it, so you don't lose money to local currency fluctuations.

See how digital nomads use Peanut to pay like a local in LATAM.

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.