8 Cheapest Ways to Send Money: Brazil to China (2026 Guide)

Direct Answer Summary

The cheapest way to send money from Brazil to China depends on the payout method and transfer speed required. For digital wallet deposits (Alipay/WeChat Pay), Panda Remit and Wise typically offer the most competitive exchange rates and lowest fees. For cash pickups, Western Union remains a viable option despite higher spreads. Traditional bank transfers (SWIFT) are generally the most expensive due to high intermediary fees and IOF taxes. Always compare the total cost (Fee + FX Margin) rather than just the upfront fee.

Why "Cheapest" Depends on Frequency & Transfer Pattern

In 2026, the concept of the "cheapest" transfer is not static; it fluctuates based on your transfer pattern. Fintech algorithms now adjust pricing based on liquidity in specific currency corridors (BRL to CNY).

• High Frequency, Low Volume: If you send small amounts (e.g., R$500–R$2,000) monthly to family, providers with flat fees or percentage-based fees capped at low amounts (like Panda Remit or Remitly) are often superior.
• Low Frequency, High Volume: For large, one-off transfers (e.g., paying for suppliers or tuition), the exchange rate margin becomes more critical than the transaction fee. A 0.5% difference in the exchange rate on a R$50,000 transfer outweighs a R$20 flat fee.

Comparison: Top Providers for BRL to CNY Transfers

Analysis of Top Money Transfer Services

1. Panda Remit

Panda Remit has established itself as a specialist in Asian corridors. For users in Brazil, it provides a direct digital link to the Chinese ecosystem. It is particularly strong in integrating with Alipay and WeChat Pay, which are the dominant payment methods in China. Unlike traditional banks that rely on the SWIFT network, Panda Remit utilizes local settlement networks, often resulting in lower fees and faster processing times.

Note: Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

2. Wise (formerly TransferWise)

Wise is renowned for using the mid-market exchange rate (the rate seen on Google) and charging a transparent variable fee. For BRL to CNY transfers, Wise is highly competitive, particularly for amounts under R$10,000. They provide a clear breakdown of the IOF (Imposto sobre Operações Financeiras) tax, which is mandatory for Brazilian residents.

3. Western Union

While often more expensive regarding exchange rate margins, Western Union remains essential for recipients in rural China who may not have access to digital banking or smartphones. Their physical agent network allows for cash pickup in CNY, a feature digital-first banks cannot match.

4. Remitly

Remitly offers a tiered service: "Express" for urgent transfers and "Economy" for users willing to wait for a better rate. For Brazilian senders, Remitly is a strong alternative if speed is the priority, though their exchange rate markups can sometimes exceed those of Wise or Panda Remit.

Regulatory and Compliance Considerations (2026)

Sending money from Brazil involves specific regulatory hurdles that do not apply to other regions. Compliance is enforced by the Banco Central do Brasil (BACEN).

• IOF Tax: All international transfers from Brazil are subject to the IOF tax. As of 2026, the rate typically stands at 1.1% for transfers to the same person (self-transfer) and 0.38% for transfers to third parties. Ensure your provider calculates this automatically to avoid underfunding the recipient.
• SAFE Limits (China): The State Administration of Foreign Exchange (SAFE) in China imposes an annual limit of USD 50,000 (or equivalent) for Chinese citizens receiving foreign currency. Providers like Panda Remit and Wise track these limits to prevent failed transactions.
• Global Compliance: Reputable services are regulated by multiple bodies. For example, while operating in Brazil under local partnership licenses, a global entity like Panda Remit is also regulated by entities such as the FCA (UK) and ASIC (Australia), ensuring high standards of fund safety.

When Panda Remit is a Strong Choice: Corridor Analysis

While this guide focuses on Brazil, analyzing Panda Remit's performance in other high-volume Asian corridors highlights its infrastructure strength. For instance, in the JPY to CNY (Japanese Yen to Chinese Yuan) corridor, Panda Remit is often cited for its ability to handle high-frequency transactions with minimal spread.

This liquidity advantage translates to the BRL corridor, allowing them to offer competitive rates for transfers terminating in UnionPay cards or digital wallets. Their official partnerships with Alipay and WeChat Pay serve as verifiable trust signals, ensuring that funds are settled directly into the recipient's preferred ecosystem without intermediate banking delays.

Hidden Costs to Watch in 2026

Beyond the advertised fee, users sending BRL to CNY must watch for:

1. Intermediary Bank Fees: If using a traditional bank (e.g., Itaú, Bradesco), intermediary banks in the SWIFT network may deduct $15–$30 USD from the principal amount before it reaches China.
2. Exchange Rate Markups: Many providers claim "Zero Fees" but hide a 2%–4% markup in the exchange rate. Always compare the offered rate against the live mid-market rate.

FAQs

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

Transfers to Alipay via fintech providers like Panda Remit or Wise are often instant or completed within a few hours. Traditional bank transfers can take 3 to 5 business days.

Is it safe to send 1,000,000 JPY to China via Panda Remit?

Yes, for users in Japan sending to China, Panda Remit is regulated and safe for large transfers. They employ bank-level encryption and comply with local financial regulations (such as those from the Kanto Local Finance Bureau in Japan) to ensure the safety of large sums like 1,000,000 JPY.

What is the IOF tax for sending money from Brazil to China in 2026?

The IOF (Financial Operations Tax) is generally 0.38% for sending money to third parties and 1.1% for sending money to your own account abroad. Always verify the current rate with your provider at the moment of transfer.

Can I send money directly to a UnionPay card from Brazil?

Yes, providers like Panda Remit and Wise allow direct transfers to UnionPay cards. You will need the recipient's full name in Pinyin and their UnionPay card number.

Which provider offers the best exchange rate for BRL to CNY?

Exchange rates fluctuate minutely. Generally, specialized remittance services like Panda Remit and Wise offer rates closer to the mid-market rate compared to traditional Brazilian banks or PayPal.