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Just used Xoom to deposit directly to Caixa accoun

Home Forums Investing in Brazil Just used Xoom to deposit directly to Caixa accoun

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  • #277307

    celso
    Member

    They expect funds to be in the Caixa account Sept 2.
    Quoted fx USD at R$3.52
    Debit card to Brazilian bank deposit with tracking.
    You need recipient bank, agencia#, account#, Recipient CPF, email, address and phone number.
    I might try them again. Transaction cost was $7 plus 10 centavos off on the official fx rate for today. Perhaps they are using yesterdays fx. More news later.
    Might be cheaper way to get reais than the local ATM’s. Getting dinged $5 for every 400 reais withdrawal adds up fast.GreatBallsoFire2015-08-31 16:12:34

  • #277308

    Andrewfroboy
    Participant

    i hope you mean R$3.52, I got R$3.58 including ATM fees (i.e. my bank charged me a total of $223.56 for R$800) as part of the transaction on Saturday when I pulled with my Schwab ATM card at a Bradesco ATM.

  • #277310

    celso
    Member

    [QUOTE=andrewfroboy] i hope you mean R$3.52, I got R$3.58 including ATM fees (i.e. my bank charged me a total of $223.56 for R$800) as part of the transaction on Saturday when I pulled with my Schwab ATM card at a Bradesco ATM. [/QUOTE]
    Note to self. Open Schwab account.
    Thanks! I guess Xoom makes about 10 centavos on the fx.
    Since I am not in Brazil, Xoom worked out fine for a small transfer.

  • #277312

    Serrano
    Participant

    Add this note as well GBoF. If you’re ever charged a fee using your Schwab card at another bank’s ATM, Schwab will refund it to your account!

  • #277320

    Steven
    Participant

    When the fx is high you need to wait until late in the day to make your transfer on Xoom. They seem to wait about 8 hours to price in the market of the day. I use them all the time. Seems like their current rate is $4.99 USD on the transfer plus about 10 centavos on the rate. But again – you need to wait some hours for them to price in the market.

  • #277326

    A bank account in brazil is not necessary if you have a schwab account/atm card. why risk any money in a brazilian bank? ever heard of the strikes they have? local bank strikes can last for a few weeks or more and when the big crash comes you will be screwed!

  • #277328

    Steven
    Participant

    [QUOTE=j.locker]A bank account in brazil is not necessary if you have a schwab account/atm card. why risk any money in a brazilian bank? ever heard of the strikes they have? local bank strikes can last for a few weeks or more and when the big crash comes you will be screwed![/QUOTE]

    True – if you only need cash. But when it is necessary to transfer money to others in Brazil you will generally need a bank account to facilitate that transfer, particularly when you are in another country.
  • #28677

    shaunmw87
    Member

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