Proof of funds through central bank of Brazil

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Member since 10 October 2018

IkexplorerActive member26 March 2019 14:12:23

Hi all,

I have transferred some funds to Brazil through a number of different companies one of them being Transferwise.

How can I check if my funds have all gone through the central bank of Brazil and get a certificate to prove this?

Any easy way of obtaining this information

Thanks in advance

Ikex

abthree Brazil expert

Member since 28 December 2017

abthreeBrazil expert26 March 2019 15:03:14

5967

My understanding is that Transferwise operates differently from a normal bank to bank transfer.
They deposit your money in their own accounts in your currency, make an exchange on their books, and pay you reais from accounts they maintain here. From Brazil's point of view, it's a domestic payment, not an international transfer.
I'd ask them how they satisfy Central Bank regulations.

Ikexplorer Active member

Member since 10 October 2018

IkexplorerActive member27 March 2019 16:03:37

Abthree,

Thank you for your reply.

I received the following message from Transferwise:

‘Our banking partner in Brazil is authorised by the central bank as a financial institution so with these receipts it will show that the money originated from abroad and also all payments to the recipients account are processed in compliance with the foreign exchange market in Brazil set by the central bank.’

I hope this helps anyone with the same query

Thanks again,

Ikex

knedelisky Member

Member since 25 February 2019

knedeliskyMember27 March 2019 17:09:08

Wow, this is great information. Thank you for sharing!

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