Advantages of using Wise to transfer money from Portugal to Brazil

The large flow of Brazilian immigrants living or working in Portugal means that there is also a large flow of money leaving Portugal to enter Brazil. There are several options that provide this type of service, but in recent times there is one that overrides all the others: Wise.

What is Wise?

For those who don't know, Wise (formerly TransferEise) is a financial technology company, more specifically, a platform for sending money from one country to another. On this platform, you just need to create an account with a minimum of €20 (or R$100.00) and wait a few days for your Wise card to be delivered to your home.

What are the advantages of using Wise?

Firstly, Wise offers fair exchange rates, that is, unlike banks and similar digital exchanges, it converts currencies based on the market's average exchange rate. This means that your money will be converted based on the real commercial exchange rate, without adding margins to the quote.

Another advantage is the absence of Swift costs and also the security guaranteed by the platform. Wise is regulated by official bodies responsible for tax operations in all countries where it operates and, as such, all the platform's exchange partners are authorized to carry out exchange operations, as well as all data entered at the time of the operation is encrypted for the protection of users.

Last but not least, fast transfers. Sending money can be done quickly. In general, international remittances take around one to two business days to be available in the recipient's account, but at Wise this is not the case.

Is it really worth using Wise or is it just another platform like the others?

Our final verdict is that yes, it is worth using Wise. If you are looking for a practical, safe and economical alternative to make your international transfers, Wise is the best option.

How does it work?

In order to facilitate your interaction with Wise, below we will leave some tips on how to use this platform:

1. Create an account and access the platform with your login details;

2. On the page where you will perform the simulation, enter the amount that will be sent and the type of sending and receiving currency;

3. Enter the personal and banking details of the transfer beneficiary;

4. Check that all transaction data and values ​​are correct and confirm the transfer;

5. Make payment. The method varies according to the countries of origin and destination of the operation.

Now that you know Wise, create your account and make your transfers much cheaper, simpler and safer!